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|||Page||
|---|---|---|---|
|Reference and Administrative<br>Details||||
|Report ofthe Trustees|2|to|7|
|Independent<br>Examiner's<br>Report||||
|Statement ofFinancial Activities||||
|Balance Sheet||10||
|Notes to the Financial Statements|11|to|21|
|Detailed Statement ofFinancial Activities|22|to|23|





## 

|TRUSTEES|Mary Elizabeth Paterson (Chair)|Mary Elizabeth Paterson (Chair)|Mary Elizabeth Paterson (Chair)|
|---|---|---|---|
||Jennifer Gabriele|||
||Ciara Golding|||
||Victoria Harrison|||
||Christine<br>Hathway|(resigned 21.10.21)||
||Shamim Ali|||
||Craig Ritchie (appointed 09.08.21)|||
||Matthew<br>William Amer||(appointed 03.09.21)|
|REGISTERED OFFICE|Extant|||
||86-90 Paul Street|||
||London|||
||EC2A 4NE|||
|REGISTERED COMPANY NIJMBER|05195961(England|and Wales)||
|REGISTERED CHARITY NUMBER|1108728|||
|INDEPENDENT EXAMINER|Keelings Limited|||
||Chartered Tax Advisers||and|
||Chartered<br>Certified|Accountant||
||Broad House|||
||1The Broadway|||
||Old Hatfield|||
||Heits|||
||AL9 5BG|||
|SENIOR STAFF|Maria Oshodi, Artistic Director/ CEO|||





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|||||||2021|2020|
|---|---|---|---|---|---|---|---|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
||||Notes|||||
|INCOME|AND ENDOWMENTS FROM|||||||
|Charitable|activities|||||||
|Charitable|activities|||138,409|46,000|184,409|211,464|
|Investment|income||||||100|
|Other income||||~1260||~1260|63|
|Total||||139,669|46,000|185,669|211,627|
|EXPENDITURE ON||||||||
|Raising funds||||748||748|5,457|
|Charitable|activities|||||||
|Charitable|activities|||108,084|32,860|140,944|165,758|
|Other||||6,005|269|6<br>74|10 878|
|Total||||114,837|33,129|147,966|182,093|
|NET INCOME||||24,832|12,871|37,703|29,534|
|RECONCILIATION||OF FUNDS||||||
|Total funds brought||forward||30,857|59,884|90,741|61,207|
|TOTAL FUNDS CARRIED FORWARD||||~55 689|72,755|~128444|90 741|





## 

|BALANCE SHEET|||||||||
|---|---|---|---|---|---|---|---|---|
|31MARCH 2021|||||||||
||||||||2021|2020|
|||||Notes|||||
|FIXEDASSETS|||||||||
|Tangible<br>assets||||14|||824|1,261|
|CURRENT ASSETS|||||||||
|Debtors||||15|||4,289|9,343|
|Cash at bank|||||||~731 712|87,931|
||||||||136,001|97,274|
|CREDITORS|||||||||
|Amounts<br>falling due within one year||||16|||(8/81)|(7,794)|
|NET CURRENT ASSETS|||||||127420|89480|
|TOTAL ASSETSLESS|CURRENT LIABILITIES||||||128,444|90,741|
|NET ASSETS|||||||128444|90741|
|FUNDS||||18|||||
|Unrestricted<br>funds:|||||||||
|General<br>fund|||||||55,689|30,857|
|Restricted<br>funds:|||||||||
|Training<br>programme|||||||11,636|16,928|
|Pathways|||||||61,119|42,956|
||||||||72 755|~59 884|
|TOTAL FUNDS|||||||128 444|90741|
|The charitable<br>company|is entitled|to exemption|from|audit|under|Section 477 of the Companies|Act 2006 for the year ended||
|31March 2021.|||||||||



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|INVESTMENT INCOME|||||
|---|---|---|---|---|
||||2021|2020|
||Unrestricted|Restricted|Total|Total|
||funds|funds|funds|funds|
|Interest on cash deposits||||100|
|INCOME FROM CHARITABLE ACTIVITIES|||||
||||2021|2020|
||||Charitable|Total|
||||activities|activities|
|Access support|||1,815|3,664|
|Earned income|||7,610|12,839|
|Grants and subsidies|||174,984|194,961|
||||194449|211464|



## 



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## 

||||||||||Total Funds|Total Funds|
|---|---|---|---|---|---|---|---|---|---|---|
||||||||||Year cndcd 31st|Year ended 31st|
||||||||Unrestricted|Restricted|March 2021|March 2020|
||Grants for support||costs||||Funds|Funds|||
||Trusts and Foundations||||||||||
||London Community||Fund|||||||790|
||Garrick Charitable|Trust||||||||1,800|
||Harold Hyam Wingate|||Foundation||||||2,500|
||Leathersellers<br>Company|||||||5,000|5,000|5,000|
||Ulverscroff<br>Trust|||||||||2,000|
||Clothworkers<br>Foundation|||||||||8,200|
||Vision Foundation|||||||||5,000|
||Grocers Charity|||||||5,000|5,000||
||Spectacle Makers|||||||5,000|5,000||
||Donations||||||||||
||Donations||||||1,114||1,114||
||Tim Gebbels Bursary|||||||||1,000|
||Arts Council||||||||||
||NPO Funding||||||133,870|25,000|158,870|156,000|
||Strategy Touring Fund|||||||||5,521|
||Catalyst Fund|||||||||7,150|
||Earned Income||||||||||
||Commissions<br>Fees|and Box||||Office|450||450|3,949|
||The Space Commission|||||||6,000|6,000|5,000|
||Consultancy<br>and Workshop|||||Fees|1,160||1,160|3,890|
||Access to Work||||||1,815||1,815|3,664|
||||||||138,409|46000|184409|211464|
||Grants received, included||||in|the above, are as follows:|||||
||||||||||2021|2020|
||Arts Council England|||Strategic Touring Fund||||||5,521|
||Arts Council England||NPO grants||||||158,870|156,000|
||Arts Council Catalyst||Fund||||||||
|||||||||||7 110|
||||||||||158,870|168 671|
|4.|OTHER INCOME||||||||||
||||||||||2021|2020|
||||||||Unrestricted|Restricted|Total|Total|
||||||||funds|funds|funds|funds|
||Theatre Tax Relief|||||||||58|
||Miscellaneous<br>Income||||||1460||~1260|5|
||||||||~1260||~1260|63|





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## 

||Raising donations|Raising donations|Raising donations|and legacies||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
||||||||||||2021||2020|
||||||||Unrestricted||Restricted||Total||Total|
||||||||funds||funds||funds||funds|
||||||||f,||||f||f.|
||Marketing|costs|||||713|||||713|5,247|
||Fundraising||costs||||35|||||35|210|
||||||||748|||||748|~5457|
|6.|CHARITABLE ACTIVITIES||||COSTS|||||||||
||||||||||Direct||Support|||
||||||||||Costs|(see|costs|(see||
||||||||||note <br>f|7)|note <br>f|8)|Totals|
||Charitable|activities|||||||~66|875|74,069||~740 944|
||||||Overheads||Programmcs||Total|Funds||||
||||||||||Year|ended||||
||||||Unrestricted||Restricted||31stMarch|||||
||||||funds||funds||2021|||||
||Employment||Costs||89,509||1,983|||91,492||||
||Artistic Professional|||Fees|||24,569|||24,569||||
||Education|Programme|||2,025||4,741|||6,766||||
||Access Costs|||||(616)||||(616)||||
||Fixed Office||Costs||3,688|||548||4,236||||
||OAice Equipment||||6,326|||||6/26||||
||Bursary Costs|||||||||||||
||Computer &||Internet|Expenses|6,663|||||6,663||||
||Travel and|Meetings||||51||||51||||
||Professional|||||||||||||
||Depreciation||ofTangible Fixed|||||||||||
||Assets|||||316||||316||||
||Programme|Costs||||||47||47||||
||Production|&Touring||||||972||972||||
||Total||||107|962|32|060|140022|||||





## 

|FOR|<br>THE YEAR ENDED 31MARCH 2021|<br>THE YEAR ENDED 31MARCH 2021|<br>THE YEAR ENDED 31MARCH 2021||||
|---|---|---|---|---|---|---|
|7.|DIRECT COSTS OF CHARITABLE ACTIVITIES||||||
||||||2021|2020|
||Staffcosts||||34,521|34,135|
||Artistic professional||fees||25,588|11,372|
||Education programme||||6,766|23,551|
||Professional|fees||||816|
||||||~66 875|~69 874|
|8.|SUPPORT|COSTS|||||
||||||Governance||
|||||Management|costs|Totals|
||Other resources expended||||6,274|6,274|
||Charitable|activities||74,069||~74 069|
|||||~74 069|~6274|~80 343|



||||2021|2020|
|---|---|---|---|---|
|Accountancy|fee||1816|1,&80|
|Tax services|||360|420|
|Independent|examination|fees|1 000|1,000|
||||3 176|3300|



|Management||||
|---|---|---|---|
|||2021|2020|
|||Charitable|Charitable|
|||activities|activities|
|Employment|costs|56,971|58,814|
|Access costs||(616)|4,786|
|Fixed office|costs|4,236|11,128|
|Office equipment||6,327|14,014|
|Computer &|internet expenses|6,663|3,681|
|Travel and meetings||51|2,041|
|Other expenses|||1,000|
|Assets||437|420|
|||~74 069|93 884|





||Governance|costs||||||
|---|---|---|---|---|---|---|---|
|||||||2021|2020|
|||||||Other|Other|
|||||||resources|resources|
|||||||expended|activities|
||Trustees' expenses|||||561|330|
||Accountancy|and legal|fees|||5,713|10548|
|||||||6,274|~10878|
|9.|OTHER|||||||
|||||||2021|2020|
|||||Unrestricted|Restricted|Total|Total|
|||||funds|funds|funds|funds|
|||||||f|f.|
||Support costs|||6,005|269|~674|~10 878|
|10.|NET INCOME/(EXP||KNDITIJRK)|||||
||Net income/(expenditure)||is stated alter|charging/(crediting):||||
|||||||2021|2020|
||Depreciation|-owned assets||||437|421|



## 



## 

|Chief Executive Ofticer's remuneration|Chief Executive Ofticer's remuneration||36920|36,720|
|---|---|---|---|---|
|COMPARATIVES|FOR THE STATEMENT OF FINANCIAL ACTIVITIES||||
|||Unrestricted|Restricted|Total|
|||funds|funds|funds|
|INCOME AND ENDOWMENTS FROM|||||
|Charitable<br>activities|||||
|Charitable<br>activities||148,814|62,650|211,464|
|Investment<br>income||100||100|
|Other income||63||63|
|Total||148,977|62,650|211,627|
|EXPENDITURE ON|||||
|Raising funds||2,469|2,988|5,457|
|Charitable<br>activities|||||
|Charitable<br>activities||118,191|47,567|1659758|
|Other||10,878||101178|
|Total||131,538|50+55|182,093|
|NET INCOME||17,439|12,095|29,534|
|Transfers<br>between<br>funds|||17311||
|Net movement<br>in funds||128|29,406|29,534|
|RECONCILIATION|OF FUNDS||||
|Total funds brought|forward|30,729|30,478|61/07|
|TOTAL FUNDS CARRIED FORWARD||~30 857|59884|~90 741|





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|TANGIBLE|FIXED|ASSETS|||||
|---|---|---|---|---|---|---|
|||||||Fixtures|
|||||||and|
|||||||fittings|
|COST|||||||
|At 1 April 2020 and 3||1 March 2021||||12,831|
|DEPRECIATION|||||||
|At 1 April 2020||||||11,570|
|Charge for year||||||437|
|At 31March|2021|||||~12007|
|NET BOOK|VALUE||||||
|At 31March|2021|||||824|
|At 31 March|2020|||||1 261|
|DEBTORS:|AMOUNTS FALLING DUE WITHIN||ONE YEAR||||
||||||2021|2020|
|||||||f.|
|Trade debtors|||||749|8,149|
|Other debtors|||||1,617||
|Prepayments|and accrued income||||~1923|~1194|
||||||4 89|~9343|
|CREDITORS: AMOIJNTS FALLING DUE WITHIN ONE YEAR|||||||
||||||2021|2020|
|Trade creditors|||||523|430|
|Social security<br>and other taxes|||||2,143|1,615|
|Other creditors|||||672|283|
|Accruals<br>and|deferred|income|||5,043|5 466|
||||||8/81|~7794|
|ANALYSIS OF NET||ASSETSBETWEEN FUNDS|||||
||||||2021|2020|
||||IJnrestrictcd|Restricted|Total|Total|
||||funds|funds|funds|funds|
||||f.|||f.|
|Fixed assets|||824||824|1,261|
|Current<br>assets<br>Current<br>liabilities|||63446<br>~8,38))|72,755|136,001<br>~8381)|97,274<br>~7,794)|
||||55,689|72,755|128414|~90 741|



## 



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|MOVE|MEN|T<br>IN FUNDS|||||||
|---|---|---|---|---|---|---|---|---|
||||||||Net||
||||||||movement|At|
|||||||At 1.4.20|in funds|31.3.21|
|||||||||f.|
|Unrestricted||funds|||||||
|General|fund|||||30,857|24,832|55,689|
|Restricted<br>funds|||||||||
|Training|programme|||||16,928|(5,292)|11,636|
|Pathways||||||~42 956|18 163|61,119|
|||||||~59 884|~12871|72 755|
|TOTAL|FUNDS|||||~90 741|~37703|1~28 444|
|Net movement||in funds, included||in the above|are as follows:||||
|||||||Incoming|Resources|Movement|
|||||||resources|expended|in funds|
|Unrestricted||funds|||||||
|General|fund|||||139,669|(114,837)|24,832|
|Restricted<br>funds|||||||||
|Training|programme|||||16,000|(21,292)|(5,292)|
|Pathways||||||30000|~11,837)|18,163|
|||||||46 000|33 129|12871|
|TOTAL|FUNDS|||||183669|~147 9667|37703|
|Comparatives||for movement|in|funds|||||
|||||||Net|Transfers||
|||||||movement|between|At|
||||||At 1.4.19|in funds|funds|31.3.20|
|Unrestricted||funds|||||||
|General|fund||||30,729|17,439|(17,311)|30,857|
|Restricted<br>funds|||||||||
|Training|programme||||30,028|2,595||32,623|
|Pathways|||||450|9,500|~17311|27261|
||||||30478|~12095|~17311|59884|
|TOTAL|FUNDS||||~61 207|29 534||90741|





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|||||||Incoming|Resources|Movement|
|---|---|---|---|---|---|---|---|---|
|||||||resources|expended|in funds|
|Unrestricted||funds|||||||
|General|fund|||||148,977|(131,538)|17,439|
|Restricted<br>funds|||||||||
|Training|programme|||||53,150|(50,555)|2,595|
|Pathways||||||9500||9,500|
|||||||62650|50 555|12095|
|TOTAL|FUNDS|||||211627|~182 0931|29 534|
|A current|year|12months|and prior year 12months|combined|position|is as follows:|||
|||||||Net|Transfers||
|||||||movement|between|At|
|||||At 1.4.19||in funds|funds|31.3.21|
|||||||f.||f.|
|Unrestricted||funds|||||||
|General|fund|||30,729||42,271|(17,311)|55,689|
|Restricted<br>funds|||||||||
|Training|programme|||30,028||(2,697)||27,331|
|Pathways|||||450|27 663|17,311|45,424|
|||||~30 478||~24 966|~17 311|72 755|
|TOTAL|FIJNDS|||~61 207||~67237||1~28 444|



|||Incoming|Resources|Movement|
|---|---|---|---|---|
|||resources|expended|in funds|
|||f.|||
|Unrestricted|funds||||
|General fund||288,646|(246,375)|42,271|
|Restricted<br>funds|||||
|Training programme<br>Pathways||69,150<br>39500|(71,847)<br>~II 8371|(2,697)<br>27,663|
|||108650|83684|24 966|
|TOTAL FIJNDS||397,296|~330059)|67 237|





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|DETAILED STA<br>FORTHE YEAR|TEMENT OF FINANCIAL <br> ENDED 31MARCH 2021|ACTIVITIES||||
|---|---|---|---|---|---|
|||||2021|2020|
|||Unrestricted|Restricted|Total|Total|
|||funds|funds|funds|funds|
|||f;|||f,|
|INCOME AND ENDOWMENTS||||||
|Investment<br>income||||||
|Interest on cash deposits|||||100|
|Charitable<br>activities||||||
|Access support||1,815||1,815|3,664|
|Earned income||7,610||7,610|12,839|
|Grants and subsidies||~128984|46,000|174,984|194961|
|||138,409|46,000|184,409|211,464|
|Other income||||||
|Theatre Tax Relief<br>Miscellaneous<br>Income||1,260||~160|58<br>5|
|||1,260||1/60|63|
|Total incoming<br>resources||139,669|46,000|185,669|211,627|
|EXPENDITURE||||||
|Raising donations|and legacies|||||
|Marketing<br>costs||713||713|5,247|
|Fundraising<br>costs||35||35|210|
|||748||748|5,457|
|Charitable<br>activities||||||
|Wages||34+21||34,521|34,135|
|Artistic professional|fees||25,588|25,588|11,372|
|Education programme||2,025|4,741|6,766|23,551|
|Professional<br>fees|||||816|
|||36,546|30,329|66,875|69,874|
|Support costs||||||
|Management||||||
|Employment<br>costs||54,988|1,983|56,971|58,814|
|Access costs||(616)||(616)|4,786|
|Fixed office costs||3,688|548|4,236|11,128|
|Office equipment||6/27||6/27|14,014|
|Computer &internet expenses||6,663||6,663|3,681|
|Travel and meetings||51||51|2,041|
|Other expenses|||||1,000|
|Assets||437||437|420|
|||71,538|2,531|74,069|95,884|
|Governance<br>costs||||||
|Trustees' expenses||292|269|561|330|
|Accountancy<br>and legal fees||5,713||~5713|10540|
|||6,005|269|6,274|10,878|





## 

||||2021|2020|
|---|---|---|---|---|
||Ilnrestrictcd|Restricted|Total|Total|
||funds|funds|funds|funds|
||E|||f.|
|Total resources expended|114837|33 129|147,966|182,093|
|Net income|24,832|12871|37,703|29,334|