| Page | |||||
|---|---|---|---|---|---|
| Reference and Administrative | Details ofthe Charity, its Trustees | and Advisem | |||
| Trustees' Report |
2-8 | ||||
| Trustees' Responsibilities Statement |
|||||
| Independent Auditors' |
Report | on the Financial | Statements | ||
| Statement ofFinancial | Activities | 14 | |||
| Balance Sheet | |||||
| Statement of Cash Flows | 16 | ||||
| Notes to the FInanclal | Statements | 17 - 34 |
| Trustees | Mehmet Ergen (Chair, | resigned as Chair 11November 2021) | resigned as Chair 11November 2021) | resigned as Chair 11November 2021) | |
|---|---|---|---|---|---|
| Abdullah Tarcsnli, |
|||||
| Gsbnel Gbadamosi | |||||
| Lynne McKenzie | |||||
| Jack Shepherd (resigned 15lylay 2022) |
|||||
| Ben Todd (appointed | as Trustee and Chair 11 November | 2021, resigned as Chair | |||
| 15 May 2022) | |||||
| Andrew Cripps (appointed as Trustee and Chair |
15May 2022) | ||||
| Naz Yeni (appointed as Trustee 15May 2022) | |||||
| Company number |
registered | 05242988 | |||
| Charity registered | |||||
| number | 1108613 | ||||
| Registered | office | 24 Ashwin Drest | |||
| London | |||||
| EB3DL | |||||
| Company | secretary | Leyla Nezli (reiigned | 15Msy 2022) | ||
| Chair ofTrustees | Mehmet Ergen (resigned ss Chair 11November |
2021) | |||
| Ben Todd (appointed | Chair 11November 2021) | ||||
| Independentauditors | MHA Madntyre Hudson |
||||
| Ch snared Accountants |
|||||
| 2 Londan Wall Place | |||||
| Landon | |||||
| EC2Y 5AU |
| Unrestricted | Restricted | Total | Tofnf | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| Note | 2021 f |
2021 | 2021 E |
2020 | ||
| Income from: | ||||||
| Donations and grants |
516,119 | 672,690 | 1.355,606 | 550,715 | ||
| Charitable act nnTies |
18,279 | 16,279 | 1,113,211 | |||
| Other income | 790 | 750 | 00,528 | |||
| Total income | 535,148 | 672,690 | 1,407,838 | 1,754,455 | ||
| Expenditure on: |
||||||
| Charrlable activities |
7,8 | 87,945 | 889,163 | 977,108 | 2,037,742 | |
| Total expenditure | 889,163 | 977,106 | 2.037,742 | |||
| Net movement In funds |
447,203 | I16,473) | 430,730 | (283,287) | ||
| Reconciliation offunds: |
||||||
| Total funds brought |
forward | 20,786 | 2,092,793 | 2.113,581 | 2,308,868 | |
| Net movement in funds |
447,203 | l16,473) | 430,730 | f283,287) | ||
| Total funds carded | forward | 467,991 | 2,076,320 | 2,844,311 | 2,I13,581 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | 6 | 6 | ||||
| Fixed assets | ||||||
| Tangible assets | 12 | 2,107,994 | 2,240,454 | |||
| 2,107,994 | 2,240,454 | |||||
| Current assets | ||||||
| Debtors | 13 | 406,966 | 3B1,990 | |||
| Cash at bank and in hand | 295,493 | 48,584 | ||||
| 702,459 | 430,574 | |||||
| Creditors amounts |
falling due vnthin one | |||||
| year | 14 | (224,048) | (475,362) | |||
| Net current assets I liabilites | 478,411 | (44,788) | ||||
| Total assets less current liabilities | 2,586,405 | 2,195,666 | ||||
| Creditors: amounts than one year |
falling due after more | 15 | (42,084) | (82,085) | ||
| Total net assets | 2,544,311 | 2 113,581 | ||||
| Charity funds | ||||||
| Restncted funds | 16 | 2,076,320 | 2,092, 793 | |||
| UnrestrNed funds |
16 | 467,991 | 20,7ee | |||
| Total funds | 2,544,311 | 2,113,581 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | 6 | |||||
| Cash flows from operating | activities | |||||
| Net cash used in operating |
actwities | 19 | 294JKO | 42,722 | ||
| Cash flows from investing | activities | |||||
| Purchase oftangible fixed assets | 12 | (1,606) | (9,439) | |||
| Net cash used in investing | activities | (1,908) | (8,439) | |||
| Cash flows from financing | activities | |||||
| Repayments of borrowing |
15,14 | (46,346) | fff,288) | |||
| Net cash used in financing | activities | (46,348) | (11,288) | |||
| Change in cash and cash |
equivalents in |
the year | 248.909 | 22,996 | ||
| Cash and cash equivalents | at the beginning | ofthe year | 19 | 48,594 | 25,589 | |
| Cash and cash equivalents | at the end of | the year | 19 | 298,493 | 49594 | |
| The notes on pages 17to 34form part ofthese finsnwai | statements |
| Unrestricted | Restricted | Total | |||
|---|---|---|---|---|---|
| funds | funds | funds | |||
| 2021 | 2021 | 2021 | |||
| E | |||||
| DonstIons | 62,548 | 38,535 | 101,386 | ||
| Grants | 453,571 | 833,852 | 1,287,423 | ||
| Total 2021 | 516,119 | 872,690 | 1,388,809 | ||
| Unrestricted | Res tn cled | Total | |||
| funds | funds | funds | |||
| 2020f | 2020 | 2020f | |||
| Donebons | 132,486 | 2000 | 134.486 | ||
| Grants | 301,739 | 114,491 | 416,230 | ||
| Total 2020 | 434,225 | 116,491 | 550,716 | ||
| 5. | Income from charitable | activities |
| Unrestncted | Total | |||
|---|---|---|---|---|
| funds | funds | |||
| 2021f | 2021f | |||
| Professional | Theatre | 335 | ||
| Talent | Development | 2,280 | ||
| Environmental | Susteinstritay | |||
| Venue | Operation | 15,664 | 18,664 | |
| Total | 2021 | 18,279 | 18,279 |
| Vents fueled | rond | ||
|---|---|---|---|
| funds | funds | ||
| 2020f | 2020 | ||
| Professional | Theatre | 994,382 | 99s,382 |
| Talent Development | 65,026 | 55.026 | |
| Environmental | Susteinability | 3,091 | 3,091 |
| Venue Operation | 60.712 | 60.712 | |
| Total 2020 | 1 113,211 | 1.113,211 |
| Unrastdcted | Total | ||||
|---|---|---|---|---|---|
| funds | funds | ||||
| 2021f | 2021 | ||||
| Theatre | tax | credit | claim | 750 | 780 |
| Unres tn'c ted | Tofef | ||||
| funds | funds | ||||
| 2020 | 2020 | ||||
| 6 | |||||
| Theatre | tax | credit | claim | 90.528 |
| Unrestricted | Restricted | Total | ||
|---|---|---|---|---|
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| Professional | Theatre | 76,545 | 729,096 | 806,641 |
| Talent Development | 9,706 | 18,259 | 28,966 | |
| Environmental | Sustainebilrty | (1,847l | 2,678 | 1,031 |
| Venue Operation | 3,34f | 138,13I0 | 141~71 | |
| Total 2021 | 87,945 | 869,183 | 977,108 | |
| ifnfastnc ted | Rostnctsd | Total | ||
| futtda | funds | funds | ||
| 2020f | 2020f | 2020f | ||
| Professional | Theatre | 1,709,649 | 165,437 | 1,875,086 |
| Talent Development | 57,075 | 65,488 | 122,563 | |
| Environmental | Sustainabilrty | 5,045 | 5.045 | |
| Venue Operation | 24,684 | 10,364 | 35.048 | |
| Total 2020 | 1,796,453 | 241,289 | 2,037, 742 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Support | Total | ||
| directly | costa | funds | ||
| 2021 | 2021 | 2021 | ||
| f. | 8 | |||
| Professional | Theatre | 601,638 | 204,003 | 808,841 |
| Talent Development | 16,092 | 12,873 | 28,888 | |
| Environmental | Sustainabilrty | 1,031 | 1,031 | |
| Venue Operation | 24,107 | 117,364 | 141,471 | |
| Total 2021 | 642,868 | 334,240 | 877,108 |
| Actrvrtias | |||||
|---|---|---|---|---|---|
| underf a)ran |
Supporf | Total | |||
| directty | costs | funds | |||
| 2020 | 2020 | 2020 | |||
| 9 | 8 | ||||
| Profess | ionel | Theatre | f,312,743 | 562,343 | 1,875,086 |
| Talent | Development | 106.724 | 15.839 | 122,563 | |
| Environmental | Sustainability | 5,045 | 5.045 | ||
| Venue | Operation | 13,930 | 21,118 | 35,048 | |
| Total 2 | 020 | 1,438,442 | 599,300 | 2,037, 742 |
| Total | Toter | ||||||
|---|---|---|---|---|---|---|---|
| funds | funds | ||||||
| 2021 | 2020 | ||||||
| Depreciation | 134,066 | 134,728 | |||||
| Front of House | 7,724 | 79,336 | |||||
| Comms and | marketing | 119 | f09,563 | ||||
| Technical services | 3,641 | 63,4f9 | |||||
| Governance | costs | 8,000 | 8,000 | ||||
| Utilities | 11,613 | 21,060 | |||||
| Insurance | 6,734 | 5,253 | |||||
| Tel ace mme |
3,096 | 5,560 | |||||
| Professional | fees | 17.362 | 8,817 | ||||
| Bank interest | 3,669 | 4,508 | |||||
| Memberships | 3,640 | 4,485 | |||||
| Office and admin | 21,179 | 26,071 | |||||
| Travel and subsistence | 843 | 4056 | |||||
| Rent and rates | 22,636 | 49,441 | |||||
| Bad debt | 75,000 | ||||||
| Buikling cos'Is | 90,699 | ||||||
| 9. | Governance | costs - Auditors' | remuneration | ||||
| 2021 | 2020 | ||||||
| 2 | |||||||
| Fees payable | to the Chanty's | auditor for the audit ofthe Chanty's | annual | ||||
| accouitis | 8,000 |
| 2021 | ||
|---|---|---|
| E | ||
| Wages and science | 529rtt33 | 603,283 |
| Social secunty costs | 33,118 | 3S505 |
| Pension costs | 14.644 | fS,798 |
| 2021 | 2020 | ||
|---|---|---|---|
| No. | lVo | ||
| Full bme | staff | 13 | f4 |
| Equivalent | full time staff from casual worker pool | 7 | 9 |
| 22 |
| Long4erm | ||||
|---|---|---|---|---|
| leasehold | Plant and | Computer | ||
| Pre Petty 6 |
machinery 6 |
equipment 6 |
Total | |
| Cost orvaluation | ||||
| At 1 April 2020 | 3,389,541 | 105,805 | 10,508 | 3,505,854 |
| Arklitions | 1,606 | 1,5D6 | ||
| At 31 March 2021 | 3,389,541 | 1DSAIDS | 12,114 | 3,507,46D |
| Depreciation | ||||
| At 1 April 2020 | 1.157,599 | 9,167 | 1,265,400 | |
| Charge for the year | 13D,529 | 3.0D1 | 536 | 134,066 |
| At 31 March 2021 | 1.26B,128 | 1D1,636 | 9,703 | 1,399,466 |
| Net book value | ||||
| At 31 March 2021 | 2,101,413 | 4,170 | 2,411 | 2,107,994 |
| At 31lrtemh 2020 | 2,231,942 | 7,171 | 1,341 | 2,240,454 |
| 2021 | 2020 | ||
|---|---|---|---|
| 6 | |||
| Trade debtors | 14,861 | 43,051 | |
| Other debtors | 387,605 | 327,004 | |
| Prepayments | and accrued income | 11,935 | |
| 406,968 | 381.990 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| E | ||||||
| Bank loans | 7,906 | 14,280 | ||||
| Trade creditors | 39,263 | 144,848 | ||||
| Other taxation | and | social security | 95,741 | 95,780 | ||
| Other creditors | 69,136 | 125887 | ||||
| Accruals and deferred | income | 12,000 | 94.787 | |||
| 224,046 | 475,352 | |||||
| 2D21 | ||||||
| Deferred income at 1 Apnl 2020 | 94,767 | 48,155 | ||||
| Resources deferrerl | during the year | 12,000 | 94,787 | |||
| Amounts released |
from previous | periods | (94.767) | f48,185) | ||
| 12,000 | 94,787 |
| Cnati | tom: Amounts falling due after more tha |
n one year | |
|---|---|---|---|
| 2021 6 |
2020f | ||
| Bank | loans | 82,055 |
| Balance at 1 | Transfers | Balance at 31 March |
|||||
|---|---|---|---|---|---|---|---|
| April 2020 6 |
Inoome | Expenditure | inlout 6 |
2021 6 |
|||
| Unrestrirted funds |
|||||||
| Designated funds |
|||||||
| Areola Theatre | Ltd | 123,594 | 123,594 | ||||
| General funds | |||||||
| General Fund |
20,788 | 535,148 | (87,946) | (123,694) | 344,397 | ||
| Total Unrestricted | funds | 20,789 | 535,146 | (87,945) | 467,991 | ||
| Restricted funde | |||||||
| Capital fund | 2,D71,501 | (121,853) | 1,949,648 | ||||
| Participation | 5.042 | 5,042 | |||||
| Artistic Programming | 14,250 | 17,DDD | (15,706) | 15545 | |||
| Joseph Rowntree | Charitable | ||||||
| Trust | 10,766 | (9,176) | 1,590 | ||||
| Green Areola | 2, DDD | 13,275 | (2,534) | 12,741 | |||
| Covid-19 Funds | 721,998 | (721,998) | |||||
| Facilities | 109,651 | (17,897) | 91,754 | ||||
| 2,092,793 | 872,690 | (889,163) | 2,076,320 | ||||
| Total offunds | 2,113,581 | 1.407,838 | (977,108) | 2.544,311 |
| Statement | offunds | offunds | —prior | year | ||||
|---|---|---|---|---|---|---|---|---|
| Balance at | ||||||||
| Balarrce al | 31 tufa ref | |||||||
| 1Apnl 2019f | Income f |
Expenditure f |
2020 f |
|||||
| Unrestricted | funds | |||||||
| General Fund |
179,277 | 1,637,954 | (1,796,4531 | 20,788 | ||||
| Restricted | funds | |||||||
| Capital fund | 2.f93354 | (121,853) | 2.071,501 | |||||
| Participation | 7.237 | 64,722 | (66,917) | 5,042 | ||||
| Artistic Prog | ramming | 17,000 | 49,759 | (52519J | 14,2S0 | |||
| Joseph Rowntree Chantabta | Trust | 2,000 | 2,000 | |||||
| 2217591 | 116,49'I | (241,289) | 2,092793 | |||||
| Total offunds | 2396,868 | 1,754,4S5 | (2,037,742) | 2,113581 |
| Unrestricted | Unrestricted | Restricted | Total | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | |||||||||||||
| 2021 | 2021 | 2021 | |||||||||||||
| 6 | 6 | ||||||||||||||
| Tangible | fixed | assets | 158,344 | 1,949,650 | 2,107,994 | ||||||||||
| Current assets | 562,177 | 140,282 | 702,469 | ||||||||||||
| Creditors | due | within | one year | (252,530) | (13,612) | (266,142) | |||||||||
| Total | 467,991 | 2,076,320 | 2,644,311 | ||||||||||||
| Analysis | ofnet assets between | funds | - prior year | ||||||||||||
| Vrvsistnc ted | Restncted | Total | |||||||||||||
| funds | funds | funds | |||||||||||||
| 2020 | 2020 | 2020 | |||||||||||||
| 6 | T. | 2 | |||||||||||||
| Tangible | fixed | assets | 168.953 | 2.071.501 | 2,240 454 | ||||||||||
| Current assets | 409.282 | 21.292 | 430,574 | ||||||||||||
| Creditors | due | within one year | (475,362) | (475,362) | |||||||||||
| Crsddors | due | in more | than one | year | (82,085) | (82,085) | |||||||||
| Total | 20,788 | 2,092,793 | 2,113,581 | ||||||||||||
| 16. | Reconcgiation | ofnet | movement | In funds to | net | cash flow | from operating | activities | |||||||
| 2021 | 2020 | ||||||||||||||
| 2 | |||||||||||||||
| Net income/expenditure |
for | the | year | (es | per | Statement | of | Financial | |||||||
| Acbvitias) | 430,730 | (283,287) | |||||||||||||
| Adjustments | for: | ||||||||||||||
| Depreciabon charges |
134,066 | 134,728 | |||||||||||||
| (Increase))decrease | in | debtors | (24,976) | 54,983 | |||||||||||
| (Dscreasellincrease | in | creditors | (244,960) | 136.298 | |||||||||||
| Net cash | provided by |
operating | activities | 294,660 | 42 722 |
| Cash in hend | 2021 295,493 |
2020f 48,584 |
||
|---|---|---|---|---|
| Total cash and cash | equivalents | 295,493 | 48,584 | |
| 20. | Analysis ofchanges | in net debt |
| At 1 April | At 31 March | |||||
|---|---|---|---|---|---|---|
| 2020 | Cash flows | 2021 | ||||
| Cash | at bank and | in hand | 246,909 | 295,493 | ||
| Debt | due within | 1 | year | (14,260) | 6,354 | (7,906) |
| l3ebt | due after | 1 year | (82,085) | 39,991 | (42,094) | |
| (47,761) | 293,254 | 245,493 |