Company number 02650108 Charity number 1101496 Crying Out Loud Limrted (Limited by guarantee) Report and financial statements for the year ended 31 March 2021 111 *AAIN80PK' 04112r2021 COMPANIES HOUSE #132 Field Sullivan Limited Chartered Accountants Neptune House 70 Royal Hill London SE10 8RF Crying Out Loud Limited (Umlted by guarantee) Conten18 Pag8 Legal and administrative infomation Chair's statement Artistic Directols introducti Trustees, report 6-13 Auditors, r8POrt 14-17 Statement ol financial activitses (including income and expenditure account) 18- 20 Balance sheet 21 Statement of cash flows Notes to th8 financial statements 23-30 Crylng Out Loud Umited (Limited by guarantse) Legal and administratSve inf0m￿tIon Constllutlon The company is incorporated under the Companies Act. company number 2650108 and its governing document is ts Memorandum and Articles of Association. The company is a registered charty. number 1101496. Directors and trustees The direclors of the charitable company (Iha charity,) are its trustees fcff the purpose of charity law and thr0￿h¢xrt this rep)rt are collectively referred to as the trustees. Twstees are nominated through Ihe process set out in the Artides of Association. Policies and procedures adopted for the induction and training of truslees are ongoing and incorporated indirecty into the regular trustees meetings. The trustees during the year and Sin￿ the year*nd were: Billy Ridgers Cat Harrison (Chair) Mark Kowalik Michael Brinton Tracey Low Marta Sala Font Sue Daniels Hai Ly Nguyen apFK)inted on 3 November 2020 appointed on 26 January 2021 Rachel Clare Artislic Director Rachel Clare Exeeutive Director Sarah Macnee Auditors Field Sullivan Limited. Neptune House. 70 Royal Hill. London SE10 8RF Banker8 CAF Bank, 25 Kings Hill Avenue. KirKJs Hill. West Malling. Kent, ME19 4JQ Lloyds Bank, 25 Gresham Street. London EC2V 7HN The Co-operalive Bank Plc, PO Box 250. Skelmersdale. WN8 6 wr Reglstered office and operation address Somersel House, South Wing, Strand, London. WC2R 1 LA Crying Out Loud Limited {Llmlted by guarantee) Chalr's statement The team at Crying Out Loud have shown resilience and t8nacty as COVID-19 continued its global impad and ripped through the arts sector. Through all the challenges they have continued to support artists at every level - from championing the arts and circus sectors: driving forward projects Suc￿$SfUllY through cancellations and pOstp￿ments. right through to mentoring artists on an individual basis. The team have also supported eath olher, especially throwh Rachel's own contraction of Long COVID. This flexibility. rallying tC*3ether and consideration has furthered Crying Out Loud's reputation as a capable, professK)nal arts organisation with a tremendous amount of heart. Financially, Crying Out Loud remain secure, thanks to the pinpoint accuracy and experienced forecasting thal the leam excel al. as well as our continued support from Arts Council England as a National Porttolio Organisation. I'm also delighted to say that we've also been able to recwtt two new board members who have joined successfully through our firsl fully digilal recruitment prtxess. The pipeline process has remained al the core of what we do. and as we all build a careful recovery il is wilh continued flexibility. opts'mism and anticipats.on that we tread lo￿ard with the exceptional projects and artists work with. Cat Harrison Chair 2 November 2021 Crying Out Loud Llmlted (Llmited by guarantee) Artistic Director's Introduction The year began in Ihe same way that the previous one ended. with COVID-19 continuing to impact all our lives. The immediate lockdown, followed by safety rules. regulations. and more lockdowns, had an immense impact on all cullura activity - planning. creat￿n and delivery. All events in the year were cancelled or changed. And from a personal point of view. l also caught the virus in March 2020. Despite this. Crying Out Loud worked on being active as far as was possible, within the Government guidelines, and taking into consideration the health and well-being of our team, our cohort of artists and the many partners arKI collaborators we work clt)sely with. We had to think on our leet, create plans wtth mulliple optK)ns. and remodel projects. We remained faithful to our pipeline process where our ¢ommitment to a¢tivity is earlier, and for the longer term. We developed a creative and open approach 'on-line' both in terms of our day to day working together as a team. and with our artisls and colleagues viith digital formats reconfiguring our activities in whatever way we could without compromising the integrity Ot the projects. Our cross European proj8d Bkme Gan￿ was IuL*y enough lo be part of Ihe Bellast Snternational Arts Festival in October- we held a physical residency with four local artists to develop the V￿rk into a larger form. Then, sadly, the rules in Northern Ireland changed, and the live outdwr performances were can￿lled. But we had optioned in a film-maker. and a film versKin of the show was broadcast and seen by approximately 2.000 viewers, more than rf we had presented it live in the park. On-line forums and disojssions continued cAJr work with intemational partners in Africa, North America and Europe. We networked with people we once Mixed with in person. virtually. The Montreal's Market for International Contemporary Circus IMICCI annual lestival transformed inlo a monthly event and became pivolal lo our abilty to connect across the glc4)e. This was particularty sucressful wilh African artists and colleagues, many of whom have been more accessible on-line than in pèrson. Circostrada festival forums and plenary èvents continued, enabling planning for European projecls. In the UK, our research project, Circus Snapshot, completed its VK)rk and was able to capture the early impacts to the sector of the pandemic. It morphed into the Circus Chang& Up project. a grass roots network. comprising both organisations and fre8lancers, where working parties held regular sessions that seek to strengthen sector infrastructure. A positive outcome of working wrtuaily is how we could maximise the inclusion of colleagues. It was a tough year. personalty, as COVID-19 tumed into Long COVID. This impacted on my ability to drive forward the thanges needed. But my team and Board have been there - and stepped in at the moments when I was r￿der￿$s. And Ihe year ended stronger than it began! Ra¢hel Clare Arti$ll¢ Director 2 November 2021 Crylng Out Loud Limilod (Limited by guarantoe> Trustees. report The trustees are pleased to present their annual directors, report together with the financial statements for Ihe year ending 31 March 2021 which are also prepared to meet Ihe requirements tor a directors. report and accounts for Companies Acl purposes. The legal and administrative information set out on page 3 forms part of Ihis report. The financial statements comply with the Charities Acl 2011. the Companies Act 2006, the Memorandum and Artides of A&￿lation. and A¢counting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102) (effective 1 January 2015>. Prlnclpal actlvlty The principal activity of th8 charity is to ￿mMiSS￿n. produce and prasenl Sive contemporary performances and interactive events for audiences of all ages. Obje¢tlve8 and actlvltles for publlc benofft The Iruslees confirm that they have complied with the duty in SeC￿n 17 of the Charities Act 2011 and referred to the guidance contained in the Charity Commission's general guKlance on public benefit vthen reviewing the charity's aims and objectives and in planning future aclivities. Benefit to the public Crying Out Loud (COL) are pioneering ¢reative producers. nurturing artists working in ontemporary visual theatre 0ft8n in the fields of circus, physical theatre and installatton. We programme memorable events for audiences of all ages and abilities al festivals, in venues and for site specific pert0rrnan￿ in ihe UK. As a network leader we vA)rk intemationally, advocating for artists and contemporary performance by making conneclions. ￿lIlatIng collaboralions and creatirKJ opportunities in the UK and Europe. Starting from 1 April 2019, COL agreed on a vision for the nexl seven years.. 'Through partnerships arKI collaborations. reinvtgorate mid-scale UK visual theatre and circus to be world-class. relevant and diverse." Our strategi¢ aims arg-. 1. Seed. develop and present visual theatre and circus for irKloors and for the mid-scale 2. Seed. develop and present midnarge-scale particpatory visual theatre and circus for outd¢)Jrs 3. Investigate and champron new ways of touring mid-sca18 visual theatre and circus and new ways of supportirHJ its infraslructure Activities in the year ending 31 March were significantly impacted on by COVID 19 and it was not possible for us lo follow our business plan. The prmyities for ihe year were reframed as follows.. Increase our support of the development of Blan￿ Game. the work. and the Bl8n7e Gam8 artists, in order to keep the artists creatively engaged, and give Crying Oul Loud LIn￿ted (Llmlted by guarantee) the arKI Ihe artists. greater opportunities in 2021. Continue to support the dialogue across the UK crcus sector so that it can adapt to the changed times. Provide som& modest SUPF4)rt to artists connected to COL through small s¢ale seed funding and 8xcharKJe in order to support creative devekjpmenl in this time. Continue to have c¢￿str￿lIve dialogues with our African partners about fubjre opportunities. Increase our communications across the sector and encourage dhqlogue and support. in Blame Gan￿ is a new show proposed by Alessio Motta {ItalianBwedish Chinese pole artists-come-hip-hop-dancer). Matt Szczerek {Polishnrish B-BOY) and Manu Debuck (French circus director). These three artists met through their involvement in Union Black, part of our Circus 250 activities in 2018. They work with other international urban dance and ¢ir¢us artists. The VK)rk was developed during 2019120 and 2020r21 was to have been the final stages of development and its premiere. both indoors and outdcors. From the start of the pandernic in March 2020, we supported the ¢ornpany members by providing a Zoom account to enable them to communicate between themselves lin 6 different countries) plus additional phone technology to enable them to make films of their lockdown activtty. This gave us content to post on-line. helped their morale and kept up their profile. Following an open appli¢ation process, Blam8 Game had been selected lor a 2-week development residency at La Verrerie in Alès. South of Fran￿ in April 2020 to finish the indoor show. This is one of the 13 funded creation cenlres, Pole National de Cirque, spread around France. The company was alg) to give workshops and maslerclasses. This remained a commilment, and dates were discussed throughout the year, but not realisable. It finally happened in autumn 2021. The company was also invited to Subtopkq. one of the original partners. in Stockholm. to continue the creation prO￿sS of the indoor show and to present a work in progress at the Circus Mania Festival in February 2021. It was then poslponed as Sweden went into a bckdown. Instead, wa successfully experimented with an 'on-line virtual residency, inviting 2 guest artists.. Scottee's Notepad Warriors and Ben Duke from Lost Dog as well as the existing Director Manu Debuck and Trknvement Director Aline David. Over a three-week period they facililated sessions to progress the storytelling, delve deeper into the characterisation and explore the narralive arc. Discussions for a fulure visit to Subtopia are ongoing. We took part in the highly competitive on4ine Z(x)m pitch session at MICC attended by North American. Canadian, European and Askqn programmers and Festival Directors in June 2020. Crying Out Loud Llmlted (Limlted by guaranlee) The political problems in Ethh)pia have Meant that the internet was shut down for part of the year. The pandemic also meant thal Potential support from British Council was withdrawn as the scheme was ck>sed. In early 2021 the dialogue with Fekat in Ethiopia o)uld begin again and there are ongoing discussions on a ¢o-¢ommission with Fekat Circus and Sublopia. COL is one of the 14 partners of a three year projecl DERBY CAN (Creative Arts Ne￿rkI a Performing Arts Producing Hub for the city of Derby. It began in July 2019 and the vision is to work with community hubs acn)ss Derby to develop new talent and to create work of scale and substance to be LTrcurated within the local communities. COL was to work wsth Déda to devise and deliver the outdoor elemenl of the project fixusing on the intemational and cross art form strand of the programme. The project was paused and reviewed following the start of the pandemic. In 2020121, Rachel delivered online Iraining workshops to six Derby artists and was part of the selection process to identfy the artists and projects that will go forward to the next stage (seed funding of £10k). She also advised on how COL can support four of the artists to develop tt)eir work to mount an outdcor show in summer 2022. Blame Game Un This is the ouldcM)f versw)n of Blame Garne. where the number of performing artists are increased through the selection. upskilling arKI inclusion ol local artists. Of all the original residency, workshop and presentatton plans sthedul8d for 2020, one elemenl was delivered, but drfferenlly. The six core artists were joined by thre8 emerging Northern Irish and one Irish artist for a Iwtrweek residency in Octcthr 2020 in Belfast's Trtani¢ Exhibition Centre. The residency elemenl was to have taken pla￿ in Dublin wÉth pather, Rua Red. but it was nol possible due lo a lockdown. It was to have been followed by live. outdcor performances as part of Belfast International Arts Festival but the rules changed mid-residency. Our early preparations for potential pandemic changes meanl that we could film the pertorman¢e and live stream it in partnership with the festival and Rua Red. Circus Snapshot was a qualilative research project, creating a snapshot overview of the subsidized circus sector in England with the following aims: To provide an opportunity for reflection on successes and challenges To generate material thal can be used to advocate for the sector To create, collectively, proposals for how we might build a more resilient and thriving sector This research and the subsequent network, is supported by us and five sector NPOS bul it is led by an independent producerl researcher to give equal weight to the different voices in the sector, particularly thctse who work on a fr88lanc8 basis. Crylng Out Loud Llrnlted {Llmited by guarantee) Our research was at its final stages and on the point of putting forward recommendations Yth8n the pandemic began. And the pandemic had, and continues to have, a major impact on the resilience of the seclor. After a three-month pause in the first lockdown whar8 the sector was coming to terms with the impacl of the parKlemic. we joined forces with Upswing's Slow Thinking online sessions and ran a Zoom conference on 29th July to debate and action the 7 missions that had been developed in Ihe research. 118 individuals attended, more than we expected. and we had a full sign up of convenors lo develop actions through 7 Working Parties. These Working Parties have each met Mo to three lirnes, online, during 1he year. Circus Change Up is now a new independent network and we will conlinue to support its development. Bro er nationa ntatio 11 was not possible to broker any presentations of inlemational companies. The following are companies and works that we stay8d connectad to during the year. and will work on brokering vthen this is possible FIQI Group Acrobalique du TarwJer's new show. ROOM by James Thierree r inte for Al The British CouncillACE visit to Hong Kong became a Z￿ffl event in Oclober. W8 remain interested in developing UK projects for Asian markets but it has not been possible to make tangible progress. Rachel took part in discussions wth colleagues on Ihe MICC African Circus Working Group to explore ways of establishing a series of Africa in Two Continenls seasons trj collabofate on arKI present AfricanEuropean Y•YYk. We support8d Nik￿ and JD present one performance ol Knot in Lithuank?. rkin on ol One-ofl evenls attended by Rachel Clare: May - Circusstad Festival virtual showcase of new Dutch Circus: sessh)n with Arts Coun¢il England in response to DCMS research on impact on COVID-19 June - Circostrada CS Lab#5 & Xtrax on-line seminar over 3 days" Mirabilia Showcase of Italian and EU Circus x 4 session July- Digttal Diabgues, Dance in London Round Table with Mayor ol London's Culture office + Dan￿ Umbrella., MICC presentation on COL'S activity to intemational participants" MICC Canadian a)mpanies pitch sessions August- Ethropian Circus webinar drop in session . Pa18Stinian Circus session on Circus and Social Inclusion '. Pan African Creative Exchange (PACE) drop in" PACE session on Disruption & Disobedience in Theatre for Young People. Creative Europe session on 3rd Country participation" Oclober - Hong Kong and UK Fubjre Collaboratb?ns November - Circoslrada Fresh Street event on-line in Turin - three day online Conferen￿ V￿th Keynotes. Ildian artists, pitches. forums and discussions on hol topics Decembei - Nigeria-Brrtain Cultural Assctiation - speaker on a panel regarding the impact of COVID-19 Crying Oul Loud Llmlied (Llmlted by guaranlee) January - IPSAIMICC Scanning Circus in North Arner￿a ￿mpanIeS as pitch sessions; Perform Europe. Imagwie The Future. a ser￿S of seminars on the future of EU Touring February - Llojta Online - Catalan Street and Circus live Pitch Sessions tor new Catalan productions- BIAC Marseille Circus Festival 6 day professional forum.. on jury and Y￿rkIng with African Artists pitching and presentation sessions x 2 for Circostrada & MICC in Abpjjan 202; Roundtable on Cartography of Circus in Africa.. Debate on renewabk design of Circus equipment,. Cyber Subcase, Subtcpia's one week annual festival. March - MICC Outdoor and Summer Circus events roundtable., APAW2 - Changing the Mcrflel of IntematK)nal Engagement,. RICA - West African Annual Circus conference Regular sèssions atterKled by Rathd: Circostrada 'Can Anybody Hear Me?. twice monthty EU members COVID Catch up sessions Informal Circus Advocacy Group in response to ￿Ms research on impact on COVID-19 now meet fortnightly Three ol Upswng's Sk)w Thinkir¥J sessions Unconference on UK Social Circus - regular Thursday eveniry ffEeting Montreal's Market for International Contemporary CirGus IMICC) - regular dialogue Ihrough Circus Coffee Hours and Working Parties (Intemational Producers and Pr¢)duciThJ and Tourin9} Outdoor Arts UK drop in sessions Whal Next? sessions Mentorin and One off sessions Advice session with Nikki from Nikki & JD on future direction of company Conversation with Modou Toure and Senscirk from Senegal on European touring Discussion with Layla Rosa (n ideas for small $c￿e and Rural Touring Network Advice s8ssion with Etta Ermini Conversation with Modou Toure and Senscirk from S8negal on European touring Charmaine Childs, advice and contacts for her tulure touring planning Regular sessions Hannah Finn - mentoring sessK)ns wilh neurodivergent ￿nIOrtIon artist, for their Arts Council DYCP programme Pirates of the Carabina- advice sessions for new outdLh)r project Pirate Taxi. with Rural Touring Network as possible collaborator Tilly Lee Kronick - informal mentoring sessions with aerial artist and dancer Split Second continued discussions and advice with Axel Satge and Kevin Wratten for their new producing organisation Laura Moy and Mark Storor advising on fundraisiro and ACE application Session and interviewed by an MA student researching cross overs between the perfomiing arts and urban planning in the corrtext of Cultural E¢onomi8S Tilly Le8 Kronick - informal menloring sessions with aerial artist and dancer 10 Crylng Out Loud Llmlted {Limlted by guarantee) During ihe year we presented tsvo perfonnances of two differenl shows to 2252 people (one online at BIAF and one live in Lithuania). We delivered four residencies. one at a venue and three (￿line and 14 individuals participated in them. structure* governance and management Governlng document Crying Out Loud Limited is a company limited by guarantee govemed by ils Memorandum and Artides of AsscKiation. li is régistered as a charity Wlth the Charity Commission. Appolntment of trustees Trustees are nominated through the process set out in the Articles of Association. Inductlon and Iralnlng of trustees New Irusle8s have all observed a minirnum of one board meeting prnr to their appointmenl. They are provided wtth infomalion on Crying Out Loud Limited and their responsibilities, including recent financial performance. artistic activty and the Memorandum and Articles of Associalion. Most trustee nominations are people vtho have seen COL'S work over a period of lime. and have a broad knowledge of the charty's aims arKI objectives. The iemainirtg trustees are sought to cover particular areas of expertise that would be valuable to the organisation and Ihe Board. Board members attend most COL performances. Organlsallon The board of trustees administers the charity. The Board meets quarterfy but can have subveommittees covering areas such as development and finan￿S, meeting more regularly. The Artistic Director is appoinled by the trustees lo manage Ihe day-to4ay operati{￿S of ihe charity. working alongside the Exeeulive Director. To facilitate effedive operations. the Artislic Director has delegated authority, wilhin terms of delegation approved by ihe trustees. for operational matters including finance, employment and artislic perlormance related activlty. Management and ofganlsational changes The business plan (2020121 and longer temi aims) provided th8 backbone for COL aclivities during the year and a new plan for 2021r22 has been written and all policies and action plans reviewed. Our four-year funding as part of ACE s Natronal Portlolio began on 1 April 2018. The level of support increased in 2020121 to £215, 103. having previously been the sarne (£211.217) since 1 April 2015. As costs rise, we continuously adjust vthat can be funded through core support. Flnanclal revlew Core funding prowded by Arts Council England for the year was £215,103 (2020: £211,21 n. In the year the incoming r8sources of £248.632 exceeded the resources 11 Crying Out Loud Limited {Limited by guarantee) expended of £241,365 by £7.267. At 1 April 2020, there was a positive bakqnce bro￿ht forward of £4.580 of restricled reserves to support activities in 2020r21 and these were delivered during the year. A full explanation of restricted resources is provided in Nole 12 on page 28. The unr8Stricted incoming resources of £247,712 exceeded the unrestricted resources expended of £235,865 by £11,847. At the balance sheet date. the net assets of the (x)mpany were £156.184. COL operales a policy of maintaining reserves equivalent to six months support costs and resources expended on managing and administraling the charitable company, excluding thos8 funds represented by fixed assets. We believe that this should provide suff ￿lent resources to respond to unexpeded adverse changes in the charitable companws activilies. We are currently in a perK)d of unexpected adverse changes due to Ihe impact of COVID-19. At 31 March 2021 COL had a total of free reserves of £156, 184 to carry forward into 2020r21. As some aclivilies planned for 2020121 have be8n delayed unlil 2021r22, il is likely that the reserves will reduce during 2021122. In any one year. we may earmark unrestricted general funds for a particular project or to use as designated funds. The reasons for the setting up of suth funds, the policy for any transfers betwe8n lunds. and allocalion to or from designated funds. will be stated in the notes lo Ihe accounts. Plans for future perfods Core funding from the Arts Council was originally granted until 31 March 20f2 and, due lo the current pandemic. this is likely to be extended for an additional year until March 2023. We remain committed to our seven-year vish)n to 2026 and our strategic aims, as above. The core activities of 202112 were to be the premiering of Blame Game and Blame Game Unlimited. nationally and internationally. building on the legacy ol Circus Snapshot,. delivering on DERBY CAN., collaborating wilh our African partners: and seeding a couple of new ideas. This programme remains the focus of our work but timetables and activities have been attered by the pandemic and th& complications of developing and presenting live work continue. Many of our current partners also remain committed to our shared work. but exactly what can be achieved in the lorthcoming year is uncertain. In addition to the al￿ve prograrnrn8 of work we have raised lunds to support a pilot project called Circus Around and About - the development and touring of outdoor work through rural touring netsyorks in the South West in the summer of 2021. As a small company. we are in a position lo adapt and flex in order lo maximise the possibilities. Our core funding is sufficient to fund our overheads and our reserves will allow us to take some risks on moving activities forward when rules change without nots'ce. Major risks The truslees have conducted a risk anatysis to identity Ihe major risks to which the company is exposed. Systems hav8 been put in pla￿ lo mIt￿ate these risks whereby the risks are reviewed at the Irustees. meetings. 12 Crylng Out Loud LIn￿led (Limited by guarantee) Trustees, responslbilllies ststement The Irustees (who are also directors of Crying Out Loud Limited for the purposgs of company law) are responsible for preparing the trustees, report and the finan¢ial statements in accordance wilh applicable law and United Kingdom Accounting Standards (United Kingdom Generally A¢￿pted A¢¢ounting Practice). Company law requires the trustees to prepare tinancial statements for each financial year. Under that law the trustees must prepare the financial statements in accordance with United Kingdom Gènerally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable lawl. Under Company law the trustees must not approve the finanoal statements unless they are satisfied thal they give a true and fair view of the state of affairs of th8 charitable company and of the incoming resources and application ol resources. induding th8 income and expenditure, of the charitable company for that peric4J. In preparing these financial statements, the trustees are required lo: select suitsble atxounting policies and apply them consistenty; observe the methods and principles in the Charities SORP. make judgements and estimates that are reasonable and prudent" stale whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on a going concem basis unless it is inappropriate to presume Ihat the charilabie company wll continue in operation. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any lime the financial position of the charrtable company and which enable them lo ensure that the financial slalements comply with the Companies Act 2006. They are aso reswjnsible for safeguardiThJ the assets of the charitable wmpany and hence for taking reasonable steps for the pr8v8ntion and detection of fraLKI and other irregularities. In so far as the trustees are aware: there is no relevant audit infomation (as detined by s8Ctron 418{3> of the Companies Act 2CQ6) of which the charitable company's auditor is unaware: and the trustees have taken all steps that 1hey cyjght to have taken to make themselves aware of any relevant audtt infonnatKJn and to establish that the auditor is aware of that information. Small company exernptions The above report has been prepared in accordance with the special provisions relating to companies subject to Ihe small o)mpanies regime within Part 15 of the Companies Act 2006. This report was approved by Ihe l)oard of trustees on 2 November 2021 and s￿ned on its behalf by Cat Harrl$on (Chalr) Trustee 13 Crylng Out Loud Llmlted (Limited by guarantse) Independent auditors, report to the rnmbers ol Crylng Out Loud Lln Opinion We have audited the financial slatements of Cryin9 Out Loud Limited (the 'charitable Company'l for the year ended 31 March 2021 which comprise the statement of financial activities, balance sheel, statement of cash fbws and notes to the financial stalements, including a summary of signrficant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United KirvJdom Generally Accepted Accounting PractTh). In our opinion, the financial statements: give a tnje and fair view of the state of the charitable wmpany's affairs as at 31 March 2021 and of its incoming resources and applicatK*n of resources, including its income and expenditure. for the year then ended,. have been properfy prepared in accordance wtlh United Kingdom Generally AC￿pted Accounting Pradice., and have beèn prepared in accordance with the requirements of the Companiès Act 2C(16. Basis of opinion We conducted our audit in a￿rdance wilh IntematK)nal Standards on Auditing (UK) and applicable law. Our responsibililies under those starKJards are further described in the Auditor's responsibilrties lor tt)e audit of th8 financial statements section of our report. W8 ar8 independent of the charitable company in accordance with the ethical requir8menls that are relevant to ￿r audit of Ihe financial ststements in the UK, including the FRC'S Elhical Standard, and we have fulfilled our other ethical responsibilities in accordan￿ with these requirements. We believe that the audit evidence w8 have oblained is sufficient and appropriate to provide a basis for our opinion. Conclu810n8 relatlng to golng concern In auditing the financiai stalemenls, we have r))ncluded that the trustees. use of the going concern basis of accounting in the Preparat￿ of the tinan¢ial statements is appropriate. Based on Ihe work we have performed. we have not identrfTred any rnaterial uncertainties rèlating to events or conditions that. individually or collectively, may cast signrficant doubt on the entitys abilty to conlinue as a going concern for a period of al leasl twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the truslees with respect to going COn￿M are described in the relevant ￿tK)nS of this rep(Yt. Other information The trustees are responsible for the ()ther information. The other information comprises the information included in thè annual report other than the financial statements and our auditor's report thereon. Our opinion on the financial stalements does not cover the other informalion and, except trj the extent otherwise explicitly 14 Crying Out Loud Llmlted ILlmlted by guarantee) stated in our report, we do not express any lorm of assuran￿ conclusion thereon. In connection with our audit of the financial slalements. our responsibility is to read the other informalion and. in doing so, consider whether tha other information is materially inconsistenl with the finan¢ial ststements or our knovAedge obtained in the audit or otherwse appears to be materially misstated. If we identify such material inconsistencies or apparent material.misstatements, we are required lo determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If. based on the work we have pertormed. we Conclude thal there is a material misslatement ol this other information, Y￿ are required to report that fact. We have nothing to rep￿ in Ihis regard. Opinion8 on other matters wescrlbed by the Companles Act 2006 In our opinion. based on the work undertaken in the course of the audit: Ihe information given in the trustees. report, which indLKles the directors. report prepared for company law purposes. lor Ihe financial year for which the financial statements are prepared ts cfjnsistent with the financial slatements: and the directors. report indud8d within Ihe trusl8es' report has been prepared in . accordance with applicable legal requirements. Matter8 on whlch we are required lo report by exceptlon In the light of the knol￿edge and understanding of the charitable company and its environment obtained in the course of the audit. we have not identified material misstatements in the Irustees. report. We have nothing to report in respect of the followng matters in relation to which the Companies Acl 2(NJ6 requires us to report to you rf. in our opin￿n. adequate accounting records have not been kepL or retums adequate for our audit have not been received from branches not visited by us: or the financial statements are not in agreement wilh the accounting records and returns., or rtain disclosures of trustees. remuneration spe¢rfied by law are not made. or we have not received all the nformalion and explanations we require for our audit; or Responslbllllles of trustees As explained more fully in the trustees. responsibilities statement set out on page 11, the trust8es {who are also the directors of th8 charitable company for the purposes of company law) are responsible for the preparat￿n of the linanck21 statements and lor being salisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary io enable 1he preparation of financial slatements Ihat are free from material misstatement. whether due to fraud or èrror. In preparing the financial statem8nls, the trustees ale resFonsible for assessing the charitable company's abilty to continue as a going concem, disck)sing. as applicable. matters related to going concem arK5 using the g(Mng con￿rn basis of 15 Crying Out Loud Umlted (Umlted by guarantee) accounling unless the truslees either intend to liquidale the charitable company or to cease operations. or have no realistic allernative but to do so. Auditor's responsibilities for the audit of the financlal stslements Our objectives are to obtain reasonable assuranc* about vthether the financial statements as a whole are free from material misstalement. Vdhether due to traud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordan￿ wilh ISAS (UK) wtll afways detect a material misstatement when it exists. Misstaternents can arise from fraud or error and are considered material if. irKlividually or in Ihe aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of thes8 financial statements. Irregularities, including fraud, are instances of non•compliance with laws and regulalions. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are ¢apabl8 of detecting irregularities. including fraud is detailed below: Discussions were held with the directors with a view to identitying those laws and regulations that could be expected to have a material irnpact on Ihe financial stalements. The following laws and regulations were identified as bein9 of significance to the entity: . Those lay￿ and regulations considered to have a direct effect on the financial statements include UK financial reporting standards and Company Law. It is considered that there are no lav￿ and regulatw)ns for which r￿n-coMplian¢e may be fundamental to the operating aspects of thè business. Audr( procedures undertaken in response to the potential risks relating to irregularities (vthTrch include fraud and non Year ended 31 March 2021 2021 2020 Fundralslng Salaries Consultants Expenses 17,374 15.997 139 319 16.455 17,374 Production and a¢tlvlty costs Projed development and presentation fees Proied workshopl educalion Fees Project development and presentati¢)n costs Project workshopl education costs Project travel and transport costs Project accommcrfjation and subsistence costs Project marketing, dowmentation and evaluat*Jn costs COL team - activity cost of employmenl and fees COL team projecl travel. accommodation arKJ subsisten COL activity wpport and marketing costs 29.869 725 10.280 68.915 21,518 2,189 10.201 8.718 66,827 15.877 27.266 8,979 68,953 7.508 6,512 225,528 137.058 Support costs IA Renl and rates Insurance Depreciation of fixturesnrtlingslequipment Loss on disposal of fixed assets 23,386 3,838 3,771 619 28.946 27.865 ministr Salaries IT costs Office communication costs Office Sundries Payroll ¢osts Office travell transport tio 20,776 2,935 1.542 28 215 12 25.508 22,045 5.694 2.324 1.566 176 31,805 Bank charges Legallprofessional (Profit)Aoss on exchange 258 499 2,130 2,441 (774) 1222) Gover Salaries 8ookkeeping Audr(ors' remuneration rd expenses 20.776 4.974 4.245 17,937 4,920 2,472 30.038 25.810 86,933 85.906 20 Crylng Out Loud Umlted {Limited by guarantee) Company number 2650108 Balance sheet 31 Mar¢h 2021 Nole8 Fixed assets Tangible assets 1.673 Current assets Debtors Cash at bank and in hand 18.897 177.166 39.729 117,122 196,063 156,851 Credltors: amoun18 falllng due within one year 41.552 Net current assets 154.511 146.991 Net assets 156,184 148.917 unrestri￿td funds General fund 12 156,184 144.337 Restrlcted funds 13 Total Charity fund8 156.184 148,917 These financial statements have been prepared in accordance with the speckgl provisions relating to the small ￿MpanieS. regime within Part 15 of the Companies Act 201%. The financial statements were approved by the board of trustees on 2 November 2021 and s￿ned on ils behalf by Cal Harrison (Chalr) Trustee Bllly Ridgers Trustee The notes on pages Z3 to 30 form an integral part of these financial staternents. 21 Crylng Out Loud Limited (Umlled by guaranlee) Statement of Cash Flows For year ending 31 March 2021 Not•s Cash provlded by (used In) operatlng activities 14 60.917 43,215 Cash Flows from investing activities Int8rest income Proceeds from sale of fixed assels Purchase of tangible fixed assets Cash provlded by (used in) investing a¢tivltles 51 116 1.018 (873) Cash Flows from flnanclng activities Prolit (Lossl on exchange Cash provlded by (used in) investing activiti 7T4 774 Increase (de¢￿aSe) in cash and cash ewivalenls in the year 44.105 Cash and cash equivalents at the beginning of Ihe year 117.122 73,017 Total rAgh and Cash equlvalents at the end of the year 117.122 Crying Out Loud Limited (Llmlted by guarantee) Notes to the financial statements for the year ended 31 March 2021 Accountlng pollcles Statutory Inlomiation The charity is a private company limtted by guarantee with no share capital, doMi￿led in England and Wales. registration number 02650108. In the event of the charity being wound up the liability in respect of the guarantee is restricted to £1 per member of the company. The address of ils registered off￿£ is Somersel House. South Wing. Strand, London, WC2R 1 LA. The charity meets the definit￿ of a public benefit entty under FRS102. The presentation ¢￿ffencY is £ Sterling. Basls of Preparing the flnanclal statements The financial statements are prepared under the historical cost ¢onvention, Companies Act 2006. Charities Act 2011 and the Charities Statemenl of Recommended Practice IFRS102). The Trustees hav8 evaluated the funding and operatiry actiwties and reserves position and have no material uncertainties aboLrt the Chanty's abilty to continue as a going cOn￿M. 12. Incoming resource8 All incoming resources are induded in Ihe statement of financial activities when the charty is legally enlitled to the income and the amount can be quantified with reasonable a￿racy. - Incomlng resources from generated fund& Grant￿Sponsorship/donaIIons are re￿gnISed in irwming re50urc8s in the year in vthith th8y are rKeivable. except as follows: > when donors specfy that grants1donal￿nS given to the charity must b8 used in future a¢xounting p8fiLxls, the income i8 deferred until those periods. > when donors impose conditions, which have lo be fulfil￿ before the charity becomes entitled to use such income, the income is deferred and not included in incoming re￿urCeS until the preconditions for use are met. Investment income is racognrsed on an accwals basis. Donated services and facilit￿S are induded at the value to the charty where this can be quantrfied. The value of services provided by volunteers has not been induded in these accounts. - Incoming resource8 from charftable actlvltles Theatrical incorne- ino)me from box office. performance fees and sundry other theatrul income is included in incoming resourc8s in the period in which the relevant show takes place. Crying Out Loud Llmlled (Limited by guarantee) Notes to the finan¢lal statements lor the year ended 31 March 2(r21 Project specific funding - when donors specify that donations and grants are for particular reslricted purposes, which do not amount to prevconditions regarding entitlement. this income is included in incoming resources of restricted funds when receivable. - Voluntary Income Voluntary income received by way ol d(￿atiOnS and gifts is included in incoming resources when receivab￿. The value of services provided by volunteers has not been included. Resources expended All expenditur8 is induded on an accruals basis inclusiv8 of any VAT which cannot be recovered and is recognised when th8r8 is a legal or constructive obligation lo incur the o)sls. - Costs of generatlng funds Costs incurred in attracting voluntary income. and those incurred in trading aclivitses that raise funds. - Charltable aclivit*s ro'ect costs Costs incurred in the devebpment. prcrfjuction and runniThJ of productions or oiher relevant projects knured in the year. The administrative and overhead costs aS￿lated with running the office from which the company operates, and the costs associated with the conslilutional and statutory requirements of the charity. These havè all been allcrAted to thè charitabk actiwtias cost heading as the proportion spent on costs of generating fund are ￿nsidered immaterial. Tangible flxed assels and deprnclatlon IndivKJual fixed assets c¢)stirvJ £l.(KKI or more are capitalised at cost. Depr8ciation is provided at annual rales calculat&Y to write off the cost less residual value of ea¢h asset over rts expected useful life, as folk)ws'. Fixtureslfittingslequipment- 25Vo ￿ reducmig balar)ce Forelgn currencies Monetary assels and liabilities denominated in foreign currencies are translated into steding at the rates of exchange ruling at the balanc8 sheet date. Transactions in fOre￿n ¢￿T[encIeS are Iranslat8d at the date ol Ihe transactions. All gains and k>sses on exchange are wrttten ¢Jff in the income and expenditure account. Cash and cash equlvalents Cash and cash equivalents comprise cash on hand. call depostts. and other short-term highly liquid investrnents that are readi￿ convertible to a known amunt of cash arKI are subject to an insignificant risk of change in value. Crying Oul Loud Limited (Llmited by guarantee) Notes to the financial stalements lor the year ended 31 March 2021 Trade debtors Trade debtors are amounts due from customers for merchandise sold or se￿ICeS performed in the ordinary course of busfftess. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortiS8d cost using the effective interest methcKI. less provision for impaiment. A provision for the impairmenl of trade debtors is established wthen there is I￿leCtiVe eNidence that the charity will not be able to collect all amounts due according to original terms of the receivables. Trade credltors Trade creditors are obligati¢)ns to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilsties rf the charity dces not have an unconditional right, at the end of the reporting period, to defer setuement of the Creditor for at least twelve mntt)s after the reporting dale. If there is an unconditional right to defer sethement for at least twelve months after the reporting date, they are presented as non-currenl liabilities. Trade creditors are recognis8d initially at the transaction price and subsequently measured at amortised cost using Ihe effective interest method. 1.10. Fund accounting Funds held by the charity are either: Unrestricted general funds - these are funds which can be used in accordan￿ with the charitable objects at the diSCret￿n of the trustees. Restricted funds- these are funds thal can only be used for particular reslricted purposes within the objects of the ¢harty. Restrictions arise when specified by the donoi or when lunds are raised for particular restricted purpos8S. Further explanalion of the nature and purpose of each fund is included in Ihe notes to the fir￿nCial slalements. 1.11. Lease8 Rentals paid under operating leases are charged to the statement of financial activities on a strawJht line basis over Ihe lease term. Incomlng resources The total incoming resources for the year have been derived from the principal actlvty. The proportion of theatrical inoyne derived from outside the UK amounted to 54 /. {2020 - 30Y•). 25 Crylng Out Loud Umlled (Limited by guarantee) Notes to the financial statements for Ihe year ended 31 March 2021 Net Income for the year 18 Stated after ¢harylng: 2021 Depreciation of iangible fixed assets Loss on disposal of fixed assets Lossl{Profitl on loreign exchange Auditors, remuneration - extemal audit 558 619 {2,130) 4.244 642 17741 2,472 Tru8tee8' emoluments and relmbur8ed expenses The trustees received no remuneration during the year (2020- £nil). The aggregated amount reimbursed to trustees during the year was £nil (2020 - £nil). Staff costs and numberd 2021 2020 Staff costs Salaries and wages Social securty costs Pension costs 107,010 6.731 2.212 115,9S3 99.OS7 8.111 2,248 109,416 One empbyee earned b8lwe8n £60.(KIO- £70.000 during ihe year12020- on8 employee eamed more than £60,000). The truslees did not receive any remuneration during the year. Slaff numbers (lull tlme equlvalent) The average numbers of employees (including casual and part time staff) during the year was made up as folbws.. Nufflber Number 0.24 1.09 Cost of generatirvJ furKIs Charitable activities: Projects Charitable activities: Administration Charitable aclivities: Governance 0.95 2.00 Taxallon No provision for corwra11￿ tsx has been made as the c*)arty is exernpt from corporation tax on tls income and gains to the extent that these are applied to its charitable activities. 26 Crying Out Loud Llmlted (Llmlted by guarantee) Notes to the financlal ststeThnts for the year ended 31 March 2021 Flxed assets- tanglble assets Fixtuwosl fitting equlpment Cost 1 April 2020 Addrtions during year Sales during the year Disposals during year 31 March 2021 7.928 1.018 193) {4.6851 4.168 Depreciation 1 April 2020 Disposals during year Charge lor year 31 March 2021 6,002 {4,0651 558 2.495 N•1 book value 31 March 2021 31 March 2020 1,673 1.926 Oebtorn 2020 Trade deblors Other debtors Prepaymentslaccrued income 8,477 10.420 18.897 8.337 30,492 39,729 Credllor8: amounts falling due within one year 2020 Trade credilors Other taxationlsocial securty Other creditors Accrualsldeferred income 5.164 2.983 27.015 6,3 41,552 2.080 2.983 21 4,776 9.860 10. Llmlted by guaranlee The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1. to the company shcAJld rt be wound up. At 31 March 2021. there w8r8 eight members. 27 Crylng Out Loud Llmited {Limlted by guarantee) Notes to the financial ststements for the year ended 31 March 2021 11. Unreslricled fund8 Brought Inc¢>mlng Outgolng Carried lonvard rnsouThs re80urce8 forward 2021 General fund 144.337 247,712 235.865 156,184 2020 comparatlve General fund 103.853 272,WJ2 232.418 144,337 12. Restricted fund$ Brought Incoming Outgoing Carri•d forward resources r950urces fonvard 2021 Blame Game- N. Ireland Circus Snapshot 1.080 4.580 920 920 2.OCiI Blame Game- Northern Ireland Blame Game is a new work and is a legacy project from Circus250.' DRP. It includes urban dance and circus artists from UK, France. Ireland. Netherlands and Sweden. The first stream8d live perfomance was presented in October 2020 (the original plan was for tt to be live and outdoors- presentation plans were adjusted due to the pandemic). The D'oyty Carte charitab￿ Trust provided a grant to support this dement of the project. Clrcus Snapshot Arts Council England provided a grant to support some qualitative research. crealing a snapshot overview of the subsidized circus sector in England. The research was completed in 2019120 and the final meeting and publication of its findings wefe completed in 2020r21. Brought Incomlng Outgolng Carrled forward resour¢e8 v•source8 forward 2020 comparallve C250: DRP Blame Game - Rotterdam Blame Game- N. IrelarKI Halka Baltic States Sludy Tour Circus Snapshot (23.534> 24. 826 54.870 31.035 54.870 31.035 1,080 4.580 (22.642) 122.045 94.8¥3 28 Crying Out Loud Umited {Llmlted by guarantee) Notes to the financlal slatemenls for the year ended 31 March 2021 13. Analysis of net assets between funds General Restrided lunds lunds Total Fund balances at 31 March 2021 we represented by: Tangible fixed assets Current assets Creditors: amounts falling due within one year 1,926 135.120 130.540 9,860 127.186 122.606 4.580 Fund balances at 31 March 2020 were represented by.. Tangible fixed assets Current assets Creditors.. amounts falling due within one year 130,540 4.580 135,120 9.860 122.606 9,860 4,580 127,186 14. Re¢onclllatlon of net moveTr*nt In funds to nel cash Ilow from operating activities 2020 Net movement in funds Add back depreoation charge Add back disposal of tixed assets Dedu¢t interest income shown in investirKJ activities Add back (profrt) loss on tinancing activities Decrease {increase) in debtors In¢rease (decrease) in creditors 67.7C 67.706 (116) (116) (774) (11.836) {12.40n 43.215 (774) {11,8361 112,4071 43.215 15. Operatlng Leases Total c(xnmitments under operating leases were as follovts: 2020 For ￿aSIng expiring: Within one year Two to five years Over five years 18.570 35,283 18.570 35,283 29 Crylng Out Loud Limited (Llmlted by guarantee) Notes to the fIna￿la1 $latem8nts lor the year ended 31 March 2tr21 Impact of COVID-19 pandemic on the charity'8 activities Our charitable aclivitl8s include live events in indcor and outdcor settings, and the pandemic signrficantty limiled and aftered adivities during the year. The annual support from Arts Council England, currently in place until 31 March 2022, is unrestricted and is sufficient to cover core salaries and offic8 overheads. 17. Related Party Tran&￿tiOn Thealrical Income includes Other In(￿rne of £394. This ino)me was paid by Non Zero One for using the Crying Out Loud office as a project base up to June 2021.The Trustee. Cat Harrison is also a director of N4)n Zero On8.