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||||Page|
|---|---|---|---|
|Reference and Administrative||Details ofthe Charity, its Trustees and Advisers||
|Trustees'
Report|||2-9|
|Trustees'
Responsibilities
Statement|||10|
|Independent
Auditors'|Report|on the Financial Statements|11-14|
|Statement of Financial|Activities||15|
|Balance Sheet|||16-17|
|Statement ofCash Flows|||18|
|Notes to the Financial|Statements||19-35|
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|Trustees|||Mehmet Ergen (resigned|Mehmet Ergen (resigned|11 November 2021), Chair and Trustee|
|---|---|---|---|---|---|
||||Abdullah
Tercanli, Trustee|||
||||Gabriel Gbadamosi,|Trustee||
||||Lynne McKenzie, Trustee|||
||||Jack Shepherd
(resigned||15May 2022), Trustee|
||||Ben Todd (appointed|11 November 2021),Trustee||
||||Andrew
Cripps (appointed||15May 2022), Chair and Trusteee|
||||Naz Yeni (appointed|15May 2022), Trustee||
|Company|registered|||||
|number|||05242988|||
|Charity registered||||||
|number|||1108613|||
|Registered||office|24 Ashwin Street|||
||||London|||
||||E83DL|||
|Company|secretary||Leyla Nazli (resigned|15May 2022)||
|Chair ofTrustees|||Mehmet
Ergen (resigned as Chair &Trustee 11 November 2021)|||
||||Ben Todd (appointed|Chair 11 November 2021, resigned as Chair 15May 2022)||
|Independent||auditors|MHA Maclntyre
Hudson|||
||||Chartered
Accountants|||
||||2 London Wall Place|||
||||London|||
||||EC2Y 5AU|||
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||||Unrestricted|Restricted|Total|Total|
|---|---|---|---|---|---|---|
||||funds|funds|funds|funds|
||||2022|2022|2022|2021|
|||Note|||||
|Income from:|||||||
|Donations
and|grants||357,387|396,326|753,713|1,388,809|
|Charitable
activities|||207,661||207,661|18,279|
|Other income|||26,477||26,477|750|
|Total income|||591,525|396,326|987,851|1,407,838|
|Expenditure
on:|||||||
|Charitable
activities|||814,415|506,127|1,320,542|977,108|
|Total expenditure|||814,415|506,127|1,320,542|977,108|
|Net movement|in funds||(222,890)|(109,801)|(332,691)|430,730|
|Reconciliation|offunds:||||||
|Total funds brought
forward|||467,991|2,076,320|2,544,311|2,113,581|
|Net movement|in funds||(222,&90)|(109,801)|(332,691)|430,730|
|Total funds carried forward|||245,101|1,966,519|2,211,620|2,544,311|
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||||||2022|202'I|
|---|---|---|---|---|---|---|
|||||Note|F|E|
|Cash flows from operating|activities||||||
|Net income I(expediture)|for the reporting||period||||
|Net cash used
in operating|activities|||18|(195,518)|294,860|
|Cash flows from investing|activities||||||
|Purchase oftangible
fixed assets||||12|(7,954)|(1,606)|
|Net cash used in investing|activities||||(7,954)|(1,606)|
|Cash flows from financing|activities||||||
|Repayments
of borrowing||||15,14|(7,906)|(46,345)|
|Net cash used in financing|activities||||(7,906)|(46,345)|
|Change
in cash and cash|equivalents|in the year|||(211,378)|246,909|
|Cash and cash equivalents|at the beginning||ofthe year|19|295,493|48,584|
|Cash and cash equivalents|at the end ofthe year|||19|84,115|295,493|
|The notes on pages 19to 35form part ofthese financial statements|||||||
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||||Unrestricted|Restricted|Total|
|---|---|---|---|---|---|
||||funds|funds|funds|
||||2022|2022|2022|
||||F|||
||Donations||42,597|38,048|80,645|
||Grants||314,790|358,278|673,068|
||Total 2022||357,387|396,326|753,713|
||||Unrestricted|Restricted|Total|
||||funds|funds|funds|
||||2021|2021|2021|
|||||E||
||Donations||62,548|38,838|101,386|
||Grants||453,571|833,852|1,287,423|
||Total 2021||516,119|872,690|1,388,809|
|5.|Income from charitable|activities||||
|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2022|2022|
||||E|
|Professional|Theatre|137,459|137,459|
|Talent Development||17,520|17,520|
|Environmental|Sustainability|1,807|1,807|
|Venue Operation||50,875|50,875|
|Total 2022||207,661|207,661|
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|||Unrestricted|Total|
|---|---|---|---|
|||funds|funds|
|||2021|2021|
|||E|E|
|Professional|Theatre|335|335|
|Talent Development||2,280|2,280|
|Venue Operation||15,664|15,664|
|Total 2021||18,279|18,279|
##
|Unrestricted|Total|
|---|---|
|funds|funds|
|2022|2022|
|26,477|26,477|
|Unrestricted|Total|
|funds|funds|
|2021|2021|
||E|
|750||
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|||Unrestricted|Restricted||
|---|---|---|---|---|
|||funds|funds|Total|
|||2022|2022|2022|
||||F||
|Professional|Theatre|518,497|427,280|945,777|
|Talent Development||19,246|11,830|31,076|
|Venue Operation||276,672|67,017|343,689|
|Total 2022||814,415|506,127|1,320,542|
|||Unrestricted|Restricted||
|||funds|funds|Total|
|||2021|2021|2021|
|||E|||
|Professional|Theatre|76,545|729,096|805,641|
|Talent Development||9,706|19,259|28,965|
|Environmental|Sustainability|(1,647)|2,678|1,031|
|Venue Operation||3,341|138,130|141,471|
|Total 2021||87,945|889,163|977,108|
##
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|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2022|2022|2022|
|||E||E|
|Professional|Theatre|680,162|265,615|945,777|
|Talent Development||17,204|13,872|31,076|
|Venue Operation||194,861|148,828|343,689|
|Total2022||892,227|428,315|1,320,542|
|||Activities|||
|---|---|---|---|---|
|||undertaken|Support|Total|
|||directly|costs|funds|
|||2021|2021|2021|
||||E|E|
|Professional|Theatre|601,638|204,003|805,641|
|Talent Development||16,092|12,873|28,965|
|Environmental|Sustainability|1,031||1,031|
|Venue Operation||24,107|117,364|141,471|
|Total2021||642,868|334,240|977,108|
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||||||Total|Total|
|---|---|---|---|---|---|---|
||||||funds|funds|
||||||2022|2021|
|Depreciation|||||133,800|134,066|
|Front of House|||||29,687|7,724|
|Comms and|marketing||||19,451|119|
|Technical services|||||9,647|3,64/|
|Governance|costs||||8,000|8,000|
|Utilities|||||13,916|11,813|
|Insurance|||||6,080|5,734|
|Telecomms|||||3,088|3,096|
|Professional|fees||||14,778|17,382|
|Bank interest|||||968|3,569|
|Memberships|||||3,960|3,840|
|Office and admin|||||23,087|21,179|
|Travel and subsistence|||||368|843|
|Premises costs|||||33,653|22,535|
|Building costs|||||127,832|90,699|
||||||428,315|334,240|
|Governance|costs - Auditors'||remuneration||||
||||||2022|2021|
|Fees payable|to the Charity's|auditor for the audit ofthe Charity's||annual|||
|accounts|||||8,000|8,000|
##
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|Staff costs|||
|---|---|---|
||2022|2021|
|||E|
|Wages and salaries|453,635|529,833|
|Social security costs|29,220|33,118|
|Pension costs|13,556|14,644|
||496,411|577,595|
|||2022|2021|
|---|---|---|---|
|||No.|No.|
|Full time|staff|10|13|
|Equivalent|full time staff from casual worker pool|5|7|
|||15|20|
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||Long-term||||
|---|---|---|---|---|
||leasehold|Plant and|Computer||
||propertyf|machineryf|equipmentf|Total|
|Cost or valuation|||||
|At 1 April 2021|3,389,541|105,805|12,114|3,507,460|
|Additions|3,637|4,317||7,954|
|Disposals|(104,506)|(98,856)|(9,018)|(212,380)|
|At 31 March 2022|3,2&8,672|11,266|3,096|3,303,034|
|Depreciation|||||
|At 1 April 2021|1,288,128|101,635|9,703|1,399,466|
|Charge for the year|131,359|1,822|619|133,800|
|On disposals|(104,506)|(98,856)|(9,018)|(212,380)|
|At 31 March 2022|1,314,981|4,601|1,304|1,320,886|
|Net book value|||||
|At 31 March 2022|1„973,691|6,665|1,792|1,9&2,148|
|Af31March 2021|2,101,413|4,170|2,411|2,107,994|
##
|||2022|202/|
|---|---|---|---|
|||E|E|
|Trade debtors||15,842|14,861|
|Other debtors||263,926|387,605|
|Prepayments|and accrued income|19,500|4,500|
|||299,268|406,966|
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||||||2022|2021|
|---|---|---|---|---|---|---|
||||||F|E|
|Bank loans|||||9,707|7,906|
|Trade creditors|||||23,082|39,263|
|Other taxation and||social security|||5,467|95,741|
|Other creditors|||||40,023|69,138|
|Accruals|and deferred||income||43,245|12,000|
||||||121,524|224,048|
||||||2022|2021|
|||||||E|
|Deferred|income at 1 April 2021||||12,000|94,787|
|Resources deferred||during the year|||25,442|12,000|
|Amounts|released|from previous||periods|(12,000)|(94,787)|
||||||25,442|12,000|
##
|||2022|2021|
|---|---|---|---|
|||E||
|Bank|loans|32,387|42,094|
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|Statement of|fun|ds -current|year|||||
|---|---|---|---|---|---|---|---|
||||||||Balance at|
||||Balance at 1|||Transfers|31 March|
||||April 2021
E|Income
E|Expenditure
E|in/out
f.|2022
f|
|Unrestricted|funds|||||||
|Designated
funds||||||||
|Areola Theatre|Ltd||123,594||(123,594)|||
|General funds||||||||
|General
Fund|||344,397|591,525|(690,821)||245,101|
|Total Unrestricted||funds|46?,991|591,525|(814,415)||245,101|
|Restricted funds||||||||
|Capital fund|||1,949,648||(121,853)|3,63?|1,831,432|
|Participation|||5,042|6,220|(2,823)||8,439|
|Artistic Programming|||15,545|86,083|(68,633)||32,995|
|Joseph Rowntree||Charitable||||||
|Trust|||1,590|40,585|(19,612)||22,563|
|Green Areola|||12,741|2,000|||14,741|
|Covid-19 Funds||||250,328|(250,328)|||
|Facilities|||91,754|11,110|(42,878)|(3,637)|56,349|
||||2,076,320|396,326|(506,127)||'I,966,519|
|Total offunds|||2,544,311|987,851|(1,320,542)||2,211,620|
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|Statement offund|s - prior ye|ar|||||
|---|---|---|---|---|---|---|
|||||||Balance at|
|||Balance at|||Transfers|31March|
|||1 April 2020|Income|Expenditure|in/out|2021|
|||E|E|E|E||
|Unrestricted
funds|||||||
|Designated
funds|||||||
|Areola Theatre
Ltd|||||123,594|123,594|
|General funds|||||||
|General
Fund||20,788|535,14S|(87,945)|('I23,594)|344,397|
|Total Unrestricted|funds|20,788|535,148|(87,945)||467,991|
|Restricted funds|||||||
|Capital fund||2,071,501||(121,853)||1,949,648|
|Participation||5,042||||5,042|
|Artistic Programming||14,250|17,000|(15,705)||15,545|
|Joseph Rowntree|Charitable||||||
|Trust|||10,766|(9,176)||1,590|
|Green Areola||2,000|13,275|(2,534)||12, 74'I|
|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|
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|Analysis ofnet assets between
funds - current year||||
|---|---|---|---|
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2022|2022f|2022|
|Tangible fixed assets|150,714|1,831,434|1,982,148|
|Current assets|237,938|145,445|383,383|
|Creditors due within one year|(111,164)|(10,360)|(121,524)|
|Creditors due in more than one year|(32,387)||(32,387)|
|Total|245,101|1,966,519|2,211,620|
|Analysis of net assets between funds - prior year||||
||Unrestricted|Restricted|Total|
||funds|funds|funds|
||2021|2021|2021|
||E|||
|Tangible fixed assets|158,344|1,949,650|2,107,994|
|Current assets|562,177|140,282|702,459|
|Creditors due within one year|(210,436)|(13,612)|(224,048)|
|Creditors due in more than one year|(42,094)||(42,094)|
|Total|467,991|2,076,320|2,544,311|
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|18.|Reconciliation
of|net|net|movement|movement|movement|in funds|in funds|to|net|cash flow|from operating|activities||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||||2022|2021|
||||||||||||||f.||
||Net
income/expenditure||||for|the|year|(as||per|Statement|of Financial|||
||Activities)||||||||||||(332,691)|430,730|
||Adjustments
for:||||||||||||||
||Depreciation
charges||||||||||||133,800|134,066|
||(Increase)/decrease||in|debtors|||||||||107,698|(24,976)|
||(Decrease)/increase||in|creditors|||||||||(104,325)|(244,960)|
||Net cash provided||by/(used|||in)|operating||activities||||(195,518)|294,860|
|19.|Analysis ofcash|and||cash equivalents|||||||||||
||||||||||||||2022|2021|
||||||||||||||E||
||Cash at bank and|in|hand||||||||||84,115|295,493|
||Total cash and cash|||equivalents|||||||||84,115|295,493|
|20.|Analysis ofchanges|||in|net debt||||||||||
|||||||||||||At 1 April||At 31March|
|||||||||||||2021|Cash flows|2022|
||||||||||||||f|f.|
||Cash at bank and|in|hand|||||||||295,493|(211,378)|84,115|
||Debt due within
1 year|||||||||||(7,906)|(1,801)|(9,707)|
||Debt due after 1 year|||||||||||(42,094)|9,707|(32,387)|
|||||||||||||245,493|(203,472)|42,021|
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