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← Chain Reaction Theatre Company

2024-03-31-accounts

Company Registration number: 05516471 Charity Registration number: 1112701

MREACTION

Chain Reaction Theatre Company

(a company limited by guarantee)

Annual Report & Financial Statements

for the year ended 31[st] March 2024

Beresfords

Chartered Certified Accountants

1-2 Rhodium Point

Spindle Close Hawkinge Folkestone Kent, CT18 7TQ

Chain Reaction Theatre Company (trading as Chain Reaction)

Contents

Reference and Administrative Details 3
Trustees' Report 4 - 15
Statement of Trustees' Responsibilities 16
Independent Examiner's Report 17
Statement of Financial Activities 18- 19
Balance Sheet 20 - 21
Notes to the Financial Statements 22 - 30

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Chain Reaction Theatre Company

Reference and Administrative Details

Secretary Mrs S Smit
Charity Registration Number 1112701
Company Registration Number 05516471 – The Charity is incorporated in England and Wales.
Registered Office Millers House
Three Mill Lane
London
E3 3DU
Independent Examiner Beresfords
Chartered Certified Accountants
1-2 Rhodium Point
Spindle Close
Hawkinge
Folkestone
Kent CT18 7TQ

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Chain Reaction Theatre Company

Trustees Report

The trustees, who are Directors for the purposes of company law, present the annual report together with the financial statements of the charitable company for the year ended 31 March 2024.

Trustees and Officers

The Trustees and officers serving during the year and since the year end were as follows:

Trustees: Mrs N Leach - Chair Mr S Kenwright – Treasurer Mrs S Watson-Brown Mr MJ Dyer MBE Miss L Stewart Mr S Eves (appointed 9[th] May 2023) Ms N Jeng (appointed 15th July 2024) Ms E Knight (appointed 15th July 2024)

Secretary: Mrs S Smit

Small companies provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006.

The annual report was approved by the trustees of the charity on Tuesday 10[th] September 2024 and signed on its behalf by:

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Chain Reaction Theatre Company

Trustees Report

S CHAIN TNREACTION[| A) Igniting Change

Aims & Objectives

Chain Reaction is an award-winning London-based charity that has been using theatre and media to ignite personal and social change for 29 years.

We work in partnership with schools, local councils and corporate organisations to produce high-quality, emotionally engaging projects which transform the way people relate to themselves, their community and to wider society.

We work across both the public and private sector, ensuring our work with vulnerable young people is at the heart of what we do. We identify and address the most acute health and social issues facing disadvantaged young people today. Using the power of creativity, we engage, educate and empower them to reach their full potential in life.

Whether we’re delivering professional theatre performances or running youth theatres, creative media workshops, social action groups or interactive training programmes, our work increases people’s skills, knowledge and understanding, whilst building their resilience, self-esteem and confidence.

We fundraise to make sure that our transformational community projects are totally free of charge, making them fully accessible to those who need it most and ensuring our impact is as far reaching as possible. Over the last 28 years we’re proud to say that our work has reached over 415,000 people.

We’ve spent 29 years educating, inspiring and increasing the confidence of severely disadvantaged young people aged 5 to 19. Working in areas of extreme deprivation we enable young people to develop essential life skills, motivation and aspirations and access high-quality arts and cultural opportunities (often for the first time).

Our creative programmes for young people take place in schools, community venues, theatres and special education units (for young people who’ve been excluded from school).

Ensuring our community programmes are free to users enables us to alleviate the barriers which many young people face growing up in our communities. We actively promote access and inclusion to the arts by eliminating physical, cultural, social, and/or financial barriers that can exclude participation.

We hope you enjoy reading about our achievements.

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Chain Reaction Theatre Company

Trustees Report

Our constitutional objectives:

Chain Reaction's objectives are to advance the education of young people and adults by:

Strategies for achieving the objectives:

Achievements during 2023-2024:

Engagement figures: This year Chain Reaction reached an amazing 5,685 young people aged 5-19 with intensive workshop programmes and educational theatre productions.

Workshop programmes : We delivered an extensive programme of workshop projects in partnership with a range of youth and community organisations, schools and funding bodies to deliver key specialised targeted projects in and out of school hours. These projects build knowledge on health and social issues, increase aspirations and employability skills, nurture self-esteem, encourage individuality and improve young people’s social skills. In 2023-2024, we have delivered the following workshop programmes:

  1. Chain Reaction Youth Theatre

  2. Girls Support Girls - London Borough of Newham

  3. Girls Support Girls – London Borough of Tower Hamlets 4 . Girls Support Girls – London Borough of Hackney

  4. Girls Support Girls – London Borough of Barking & Dagenham

  5. Focus Pocus

  6. Action4Gascoigne

  7. School and college based bespoke workshop programme

Education theatre tour: In November 2023 we toured our educational theatre production Knowing Me Knowing You which launched in Anti-Bullying Week to schools throughout London and Essex. This project challenges bullying and celebrates diversity.

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Chain Reaction Theatre Company

Trustees Report – Key Projects

CHAIN REACTION YOUTH THEATRE

LONDON BOROUGHS OF NEWHAM & TOWER HAMLETS

Dates: April 2023 – March 2024

Funding: BBC Children in Need, Essex Youth Trust, Shaftesbury Young People’s Trust and D’Oyly Carte.

Total participants: 31

Chain Reaction Youth Theatre (CRYT) , our free weekly issue-based youth theatre provides young people in need of additional support with a positive outlet in which to learn new skills and thrive. Using drama to tackle issues that affect young people’s lives, CRYT raises aspirations, confidence and employability skills amongst some of the most vulnerable young people in the disadvantaged London Boroughs of Newham and Tower Hamlets.

This year we have worked with 31 11–18-year-olds, many of whom have additional needs. Working with a diverse group of young people, we’ve delivered 31 sessions from our base at Millers House. Participants worked alongside our team of arts practitioners including professional actors, writers, presenters & directors.

In response to overwhelming requests from our participants to work with scripts, we delivered an Advanced Acting with Scripts masterclass. This gave us an opportunity to teach them the fundamentals and hone their skills ahead of working on their own script and culminated with a mini performance by the young people.

Our participants have not only gained hands-on professional experience in the arts and theatre but they have learnt how to work as a team, problem solve, communicate and self-reflect – all hugely transferable skills. CRYT has given young people an opportunity to grow, develop and succeed, helping to boost their confidence and self-belief.

Outcomes (D’Oyly Carte, Shaftesbury Young People’s Trust, BBC Children in Need)

Outcomes (Essex Youth Trust) :

“I gained happiness, more social skills and stronger focus… I enjoyed everything, mainly the script work itself… I have learnt how to maintain eye contact as that has been a massive struggle for me.”

Participant, aged 15

“My daughter has gained confidence with Chain Reaction and has learnt to be in front of a crowd without being judged, which has helped her in her day-to-day life… She has had to overcome a lot in the last year and Chain Reaction has been her safe place to express herself. When she feels like giving up on things – Chain Reaction is the one thing she never feels like giving up on… Can’t wait for the next sessions. Thank you so much to all the staff that have worked with her. I know it has not always been easy but you all have never given up on her and have been a massive support to both of us, thank you.”

Parent of Attendee

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Chain Reaction Theatre Company

Trustees Report

Action4Gascoigne

LONDON BOROUGHS OF BARKING & DAGENHAM

Dates: April 2023 – June 2023 Funding: L&Q Place Makers, Awards For All Total participants: 41

Action4Gascoigne (A4G ) is a youth-led social action project that engages 11–18-year-olds who live on and around the severely deprived Gascoigne Estate in the London Borough of Barking & Dagenham. Through dynamic weekly sessions and intensive holiday programmes, A4G gives young people the opportunity to gain confidence, aspirations, learn new skills and meet new people whilst working together to make a positive difference to their community.

Thanks to L&Q Place Makers and Awards For All we have continued to deliver this much-loved community project. Starting with a four-day interactive workshop programme in the Easter holidays, which explored health, fitness, diet and nutrition to try and improve the health outcomes in the community. It was an amazing week with fitness taster sessions run by local boxing organisation Box Up Crime, dance sessions and cooking classes for all. The week ended with a sharing whereby the young people invited their parents, carers and members of the community to watch their health inspired drama pieces. Education was well and truly on the agenda as we hosted a fun health quiz with the parents followed by a Q&A. Each family was also given a booklet containing the recipes the young people had been learning to cook, offering them new ideas of heathy food to cook on a budget. It was a fabulous celebratory community event.

This was followed by a term of weekly sessions whereby our team of facilitators worked with participants to plan and run an event for their community. Our sessions included drama, role play, art activities and event planning. Through our creative methods participants learnt leadership, teamwork and organisational skills. With these newfound skills they all agreed they’d like to plan a fun and inclusive Karaoke Party for their community. With very few free positive activities for young people in the area it was a huge success.

The increase in confidence and the improvement in the participants’ behaviour throughout the project has shown how vital this project is.

Outcomes (Holiday programme)

Outcomes (Weekly sessions)

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Chain Reaction Theatre Company

Trustees Report

“ I enjoyed the community and support built from spending time having fun together. I have learnt confidence in myself to speak out and be heard. The staff never fail to make everyone feel included.” Participant, aged 14

“I enjoyed meeting new people in my community! The activities are all so fun and it makes me excited for Thursdays. I have learnt to improve my public speaking and social skills whilst also learning how to be in an interview. The staff are very kind and make everyone feel included!” Participant, aged 14

“I enjoyed everything about the project. Mostly the boxing, and cooking and also dancing… I have learnt many things, especially group work, and about a healthy life… Exercise is important to be healthy and make life healthier… This is the best week I’ve ever spent and [Chain Reaction] are really good.” Participant, aged 15

GIRLS SUPPORT GIRLS – THE PROJECT

Girls Support Girls (GSG) is a school workshop programme which empowers and inspires vulnerable young women aged 13-16. GSG builds the confidence, self-esteem and knowledge of girls from disadvantaged areas and empowers them to take control of their mental and physical health.

GSG is delivered by our skilled and experienced team of specialist female facilitators in a creative and interactive way. It’s a three-part programme usually delivered across one day. It teaches a number of essential life and employability skills including communication and social skills, teamwork, social interaction, acceptance, self-awareness and self-belief.

GSG eases participants into an interactive way of learning with a variety of fun drama games which are chosen to encourage communication and teamwork and give everybody an equal opportunity to participate. These games encourage participants to relax, get to know our team and build a sense of trust and a strong group dynamic. The subsequent exercises and interactive drama-based activities are designed to stimulate their minds around topics they may not get the opportunity to discuss or learn about on a regular basis. Thought-provoking discussions are designed to foster a safe, open environment where individuals feel encouraged to contribute without judgement. Our carefully planned creative activities provide the girls with the knowledge and the tools needed to deal with challenging situations and to encourage resilience.

Ultimately, GSG is an amazing opportunity for young women to access knowledge and support to heighten their sense of self-worth, gain confidence and encourage aspirations to lead positive, successful lives.

GIRLS SUPPORT GIRLS – PREVENT

LONDON BOROUGHS OF TOWER HAMLETS, NEWHAM, HACKNEY

Dates: April 2023-March 2024 Funding: London Boroughs of Tower Hamlets, Newham, Hackney and The Home Office Total participants: 327

Chain Reaction have now been working in partnership with local Prevent Teams for 4 years. Girls Support Girls ( GSG) is a preventative programme which educates vulnerable young women aged 13-16 on the risks of radicalisation and exploitation.

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Chain Reaction Theatre Company

Trustees Report

With funding from the Home Office, we delivered the GSG workshop programme in three London Boroughs working in 14 secondary schools and delivering a 4-day intensive school holiday programme in Tower Hamlets. We worked with a total of 327 vulnerable young women.

Chain Reaction worked with young women to identify barriers to success and to provide knowledge and practical tools to avoid wider exploitation issues and radicalisation. We explored grooming, British values, mental health and positive relationships to provide our participants with a fully rounded programme. GSG used fun drama-based activities to teach a whole host of key life and employability skills whilst promoting aspirations and giving young women an opportunity to develop their social conscience and to build resilience. We also provided a follow up mentoring scheme that provided further support and education for those most ‘in need’.

By using Chain Reaction’s tried and tested creative and interactive exercises and techniques we were able to tackle challenging issues which many of our participants could relate to directly or had personal experience of. The girls were able to express their own observations and opinions, comfortable in the knowledge that we were not looking for any ‘right’ answers and that we saw value in each of their perspectives. Our use of drama-based methods empowered the participants to use their voice and share their real thoughts and feelings.

Outcomes:

“I enjoyed how we were free to speak our minds without judgement. I have learnt more about how to recognise the signs of mental health issues. The biggest risks of radicalisation and exploitation are how people can manipulate you with the way that they phrase things. I liked how energetic everyone was.” Pupil, aged 14, Sarah Bonnell School, London Borough of Newham

“I liked the inclusive styled activities and how stimulating they were. I have learnt that school is one important factor to benefit my future. The biggest risks of radicalisation and exploitation are toxic relationships and negative friendships as well as criticism and traumatic experiences. Thank you for coming to school to educate us on GSG .”

Pupil, aged 13, The Petchey Academy, London Borough of Hackney

“I thought the facilitation was really excellent and very engaging for this kind of group… Got them thinking about important issues like safety and grooming… They listened carefully and also had lots to say. I think it’s stuff that needs to be reiterated over and over! I think it was great - especially the drama ads on grooming!”

Jane O’Sullivan, Enrichment Manager, George Green’s School, London Borough of Tower Hamlets

“I think it genuinely improved relationships in this group of girls and it was informative in many subjects. They obviously enjoyed it and were happy to participate. They were interested and spoke and opened up about their experiences. This was quite a challenging group of girls and Charley and Natalie had complete control of the group.”

Deputy Pastoral Lead, Little Ilford School, London Borough of Newham

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Chain Reaction Theatre Company

Trustees Report

GIRLS SUPPORT GIRLS – EDUCATIONAL WORKSHOPS

LONDON BOROUGH OF BARKING AND DAGENHAM

Dates: February 2024 – March 2024 Funding: London Borough of Barking and Dagenham Public Health Team Total participants: 135

With funding from the London Borough of Barking and Dagenham’s Public Health Team, we prepared, planned, and delivered Girls Support Girls to six secondary schools across the borough. Each school received 5 hours of interactive workshops and we engaged a total of 135 young women aged 13 - 16.

This programme was designed to increase the confidence, self-esteem and knowledge of vulnerable young women whilst motivating and empowering them to take control of their own mental and physical health. In addition to this, we tailored the programme to specifically:

Our interactive delivery style eased participants into learning with fun games that engaged them whilst building a sense of trust, both amongst each other and between the girls and facilitators. Using our transformative drama-based methods we created a safe space for girls to engage in open discussions and learn more about issues that affect them daily.

As the girls heard more from each other throughout the programme, they felt more comfortable to share their own experiences and opinions on a whole host of topics. Creating a safe space was extremely important and instrumental in the success of GSG . We were blown away by the transformations we witnessed with many of the most vulnerable and quiet girls pushing themselves to perform in the drama activities by the end of the programme.

We had an incredible response from the young women and our outcomes and quotes show the huge impact this project has had.

Outcomes:

“I thought today’s workshop was fun, motivational and helpful as I was able to express myself and learn

more about humans. I think GSG should come back next year and help more people be confident! I enjoyed learning more about sexual harassment and it helped me to feel more confident. I also learned what mental health is. I can help protect myself from negative relationships and sexual harassment by knowing when to create boundaries and realising if I’m being manipulated and if it’s wrong.”

Pupil, aged 14, The Warren School

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Chain Reaction Theatre Company

Trustees Report

“The girls stated that they really enjoyed it and would like more! The girls had examples of mental health issues and were really vocal. Very vocal about sexual harassment and what to do in situations.”

Sidra Ali, Safeguarding Officer, Goresbrook School

“I thought today’s workshop was very helpful and built my confidence a lot more. I was able to socialise with other girls as well. I enjoyed the games we played and the group work activities. I have learnt to protect myself from negative relationships and sexual harassment by removing myself safely from the situation and telling a trusted adult.”

Pupil, aged 14, Eastbury Community School

“I thought today’s workshop was great, I loved everything about it. I enjoyed the games. I can help protect myself from negative relationships and sexual harassment by telling a teacher and your parents and guardians.”

Pupil, aged 15, Greatfields School

Knowing Me Knowing You - Tackling Bullying and Respecting Difference LONDON SCHOOL TOUR

Dates: November 2023

Funding: Sir William Boreman’s Foundation, Essex Youth Trust, The Vintners Company Areas: London Boroughs of Barking and Dagenham, Newham, Tower Hamlets, Greenwich, Lewisham and Hackney Total audience: 4,583

In November 2023 we toured our fantastic theatre production Knowing Me Knowing You ( KMKY) reaching over 4,500 young people! KMKY combats bullying by promoting respect, understanding and acceptance whilst encouraging the celebration of difference. It’s an upbeat, fun and song-filled performance that challenges the issue of bullying head on. We worked in 26 different schools in total and thanks to the funding we received,14 of those schools received heavily subsided shows.

Knowing Me Knowing You uses drama and song to explore the dilemmas faced by a pupil who does not fit in with the crowd and is shunned for being different. The show examines how victims of bullying may feel and the reasons why people might bully others. The project also explores the vital importance of support in these situations, encouraging children that are being bullied to speak to someone. It also demonstrates how the strength of the group can overcome the power of the bully. KMKY promotes the importance of accepting each other and embracing our differences including race, religion, disability, gender, body image and sexuality.

All the schools that booked Knowing Me Knowing You received a 10-minute hot seating session directly after the show and a Teachers’ Resource Pack containing lesson plans to deliver prior and after our visit. The tour was an overwhelming success with great feedback from both pupils and teachers.

Outcomes

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Chain Reaction Theatre Company

Trustees Report

“PERFORM AT MORE SCHOOLS. My favourite part of the show was when Nicky was getting bullied, instead of crying she stood up to the bully. Watching Knowing Me Knowing You taught me that if you get bullied just think of your friends and your future. If someone else is being bullied I could talk to them and see what’s wrong and try to comfort them.”

Pupil, aged 12, Greatfields School, London Borough of Barking and Dagenham

“Mesmerised! Clear from their questions at the end that they had thought carefully about the messages. Real and contextual examples were spot on to echo the kid’s experiences in school and life. Great to use the Q+A at the end. Very powerful… Exceeded all expectations! So professional from initial communication to polished performance. VERY impressed with you all.” Siân Davies, Deputy Headteacher, William Patten Primary School, London Borough of Tower Hamlets.

“The show was wonderful and to my eyes FLAWLESS. My favourite part of the show was all the songs. If someone else is being bullied I could tell a teacher or ask for help. I think it’s great we have so many different people in our country because it makes us all unique and special which means there is only one of us.”

Pupil, aged 10, Gordon Primary School, London Borough of Greenwich

Chain Reaction’s Benefit to the Public:

We are one of the leading providers of free positive arts activities in our target boroughs and are renowned for engaging the most challenging young people and sustaining that engagement. Young people find out about our projects through our strong partnerships and referral routes with schools, youth/social services and through direct outreach work.

We work primarily in areas of high deprivation throughout London and Essex; our main target areas are within the top 20% most deprived boroughs in the country. Research shows that young people from deprived backgrounds are more likely to take drugs or participate in anti-social behaviour. Furthermore the diets of young people of low socio-economic status tend to be poor and girls from the poorest backgrounds are more likely to become teenage mothers than girls from professional backgrounds.

Many of the young people we work with are from very challenging backgrounds and are at risk of developing anti-social and criminal behaviours. We often engage young people who think becoming a teen parent or going on benefits is a more viable life choice than finishing their education. They desperately need positive engagement to stop them slipping through the cracks. With little confidence in what they can achieve, many face emotional difficulties that often result in behaviour issues at school or work. All of this is exacerbated by a lack of positive role models to help them to progress in life, leading to a cycle of low educational attainment and unemployment.

We work with those who:

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Chain Reaction Theatre Company

Trustees Report

Chain Reaction’s educational performances and workshop programmes are an engaging way for young people to develop new skills, learn new information and explore a wide range of topics that are most relevant and pressing in today’s society.

Our work benefits young people and their communities in numerous different ways:

Young people who take part in our out-of-school workshops are actively engaging in positive activities away from the streets and out of trouble. Whilst there they enjoy fun, safe, informative, issue-based drama and creative activities that help them explore why and how to avoid negative, anti-social behaviour and focus instead on playing a positive, active part in their community.

Our targeted workshops with young people from Youth Offending Teams, Special Education Units, Youth Inclusion Support Panels and Reception & Reintegration Units ensure that we are working with the most vulnerable youths in our society and tackling the issues that can really make a difference to their futures and the lives of those around them.

The secondary beneficiaries of our projects are the family and friends of the young people with whom we work and members of the wider communities in which they live. Changing attitudes and behaviours make communities more cohesive, safer, happier and healthier places to live. This in turn benefits the whole of society on a long-term basis.

Charity’s policy with regards to reserves:

The Board of Directors has examined the requirement for free reserves i.e. those unrestricted funds, designated for specific purposes or otherwise committed. The Board of Directors considers that, given the nature of the charity’s work, the level of free reserves should contain sufficient working capital to cover costs. These would include staff redundancies and closure costs at any one time and allow the charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented.

Financial Review

The results of the charity for the year are shown in the annual financial statements set out on pages 18 to 30. The Charity had a total income of £182,628 and a direct charitable expenditure of £180,405. Total fund balances carried forward were £115,023.

Funds and Reserves

The unrestricted funds include a General Reserve carried forward of £67,275 and restricted funds of £47,748. The Board of Directors consider this level of general reserves as sufficient but will still use strategies to ensure this level of reserves remains strong in the next financial year.

Risk Review

The major risks to which the charity is exposed have been reviewed and systems are being established to mitigate those risks. In addition, funding risk is being addressed by creating a better spread amongst various funders.

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Chain Reaction Theatre Company

Trustees Report

Structure, Governance and Management

Governing document

Chain Reaction is registered as a charity and company and governed by its Memorandum and Articles of Association and acts entirely as a non-profit making organisation.

Organisational management

The Directors and Trustees are legally responsible for the overall management and control of Chain Reaction. The work of implementing most of their policies is carried out by themselves and the Artistic Director. Directors meet four to six times a year and meetings are led by the Chair. The day-to-day running of the charity is delegated to the respective Artistic Director who also attends meetings of the Directors.

Recruitment and appointment of Directors

In accordance with the governing document, elections for the Directors take place every year at the Annual General Meeting; if eligible outgoing Directors may offer themselves for re-election. Appointment is on the basis of nominations received from Board Members concerning eligibility, personal competence, specialist skills and local availability.

Induction and training of Directors

Directors are inducted through training days and through informal and formal meetings with established or outgoing Directors. Each is provided with an induction pack and other relevant materials to familiarise themselves with the Charity’s operations.

Small companies’ provision statement

This report has been prepared in accordance with the small companies regime under the Companies Act 2006. The annual report was approved by the trustees of the charity on Tuesday 10[th] September 2024 and signed on its behalf by:

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Chain Reaction Theatre Company

Statement of Trustees Responsibilities

The trustees (who are also the directors of Chain Reaction Theatre Company for the purposes of company law) are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and Generally Accepted Accounting Practice in Ireland, including FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

Company law requires the trustees to prepare financial statements for each financial year. Under company law the trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including its income and expenditure, of the charitable company for that period and otherwise comply with the Companies Act 2014. In preparing these financial statements, the trustees are required to:

The trustees are responsible for ensuring that the charitable company keeps or causes to be kept adequate accounting records which correctly explain and record the transactions of the charitable company, enable at any time the assets, liabilities, financial position and surplus or deficit of the charitable company to be determined with reasonable accuracy, enable them to ensure that the financial statements comply with the Companies Act 2014 and enable the financial statements to be audited. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Approved by the trustees of the charity on Tuesday 10[th] September 2024 and signed on its behalf by:

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Chain Reaction Theatre Company

Independent Examiner’s Report to the trustees of Chain Reaction Theatre Company (‘the company’)

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31st March 2024.

Responsibilities and basis of report

As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner’s statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of Chain Reaction Theatre Company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 291 of the 2014 Act other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

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Chain Reaction Theatre Company

Statement of Financial Activities for the Year Ended 31 March 2024 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net (expenditure)/income
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
27,520
10,514
742
9,791
48,567
(69,979)
(69,979)
(21,412)
(21,412)
88,687
67,275		 Restricted
funds
£
134,061
-
-
-
134,061
(110,426)
(110,426)
23,635
23,635
24,113
47,748		 Total
2024
£
161,581
10,514
742
9,791
182,628
(180,405)
(180,405)
2,223
2,223
112,800
115,023

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Chain Reaction Theatre Company

Statement of Financial Activities for the Year Ended 31 March 2024

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Note
Income and Endowments from:
Donations and legacies
3
Charitable activities
4
Investment income
5
Other income
6
Total income
Expenditure on:
Charitable activities
7
Total expenditure
Net income/(expenditure)
Net movement in funds
Reconciliation of funds
Total funds brought forward
Total funds carried forward
18		 Unrestricted
funds
£
29,444
6,231
132
5,683
41,490
(31,318)
(31,318)
10,172
10,172
78,514
88,686		 Restricted
funds
£
109,919
-
-
-
109,919
(114,020)
(114,020)
(4,101)
(4,101)
28,214
24,113		 Total
2023
£
139,363
6,231
132
5,683
151,409
(145,338)
(145,338)
6,071
6,071
106,728
112,799

All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2023 is shown in note 18.

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Chain Reaction Theatre Company

(Registration number: 05516471)

Balance Sheet as at 31[st] March 2024

Note
Fixed assets
Tangible assets
13
Current assets
Debtors
14
Cash at bank and in hand
15
Creditors: Amounts falling due within one year
16
Net current assets
Total assets less current liabilities
Creditors: Amounts falling due after more than one
year
17
Net assets
Funds of the charity:
Restricted income funds
Restricted funds
Unrestricted income funds
Unrestricted funds
Total funds
18		 2024
£
1,143
665
117,504
118,169
(4,289
)
113,880
115,023
-
115,023
47,748
67,275
115,023		 2023
£
412
708
119,392
120,100
(7,563)

112,537
112,949
(150)

112,799
24,113
88,686
112,799

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Chain Reaction Theatre Company

(Registration number: 05516471) Balance Sheet as at 31[st] March 2024

For the financial year ending 31 March 2024 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

The financial statements on pages 18 - 30 were approved by the trustees, and authorised for issue on 10[th] September 2024 and signed on their behalf by:

21

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

1 Charity status

The charity is limited by guarantee, incorporated in England and Wales, and consequently does not have share capital. Each of the trustees is liable to contribute an amount not exceeding £10 towards the assets of the charity in the event of liquidation.

The address of its registered office is: Millers House Three Mill Lane London E3 3DU

2 Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)) (issued in October 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2014.

Basis of preparation

Chain Reaction Theatre Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

Going concern

The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern nor any significant areas of uncertainty that affect the carrying value of assets held by the charity.

Income and endowments

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donations and legacies

Donations are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that these conditions will be fulfilled in the reporting period.

Grants receivable

Grants are recognised when the charity has an entitlement to the funds and any conditions linked to the grants have been met. Where performance conditions are attached to the grant and are yet to be met, the income is recognised as a liability and included on the balance sheet as deferred income to be released.

22

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

Deferred income

Deferred income represents amounts received for future periods and is released to incoming resources in the period for which, it has been received. Such income is only deferred when:

Expenditure

All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.

Charitable activities

Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.

Governance costs

These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including audit, strategic management and trustees meetings and reimbursed expenses.

Taxation

The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.

Tangible fixed assets

Individual fixed assets costing £100.00 or more are initially recorded at cost.

Depreciation and amortisation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class

Office equipment

Depreciation method and rate 5 years straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

23

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Fund structure

Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.

Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.

Pensions and other post retirement obligations

The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Financial instruments

Classification

Financial assets and financial liabilities are recognised when the charity becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the charity after deducting all of its liabilities.

Recognition and measurement

All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are only offset in the statement of financial position when, and only when there exists a legally enforceable right to set off the recognised amounts and the charity intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Financial assets are derecognised when and only when a) the contractual rights to the cash flows from the financial asset expire or are settled, b) the charity transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or c) the charity, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Financial liabilities are derecognised only when the obligation specified in the contract is discharged, cancelled or expires.

24

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

3 Income from donations and legacies

Grants, including capital grants;
Donations and legacies;
Donations received
General grants
Unrestricted
General
£
20
27,500
27,520		 Restricted
£
-
134,061
134,061		 Total
2024
£
20
161,561
161,581		 Total
2023
£
9,925
129,438
139,363

4 Income from charitable activities

Project and schools income
5 Investment income
Interest receivable and similar
income;
Interest receivable on bank
deposits
6 Other income
Theatre tax relief refunds		 Unrestricted
funds
General
£
742
Unrestricted
General
£
9,791
Unrestricted
General
£
10,514		 Unrestricted
funds
General
£
742
Unrestricted
General
£
9,791
Unrestricted
General
£
10,514		 Total
2024
£
742
Total
2024
£
9,791
Total
2024
£
10,514		 Total
2024
£
742
Total
2024
£
9,791
Total
2024
£
10,514		 Total
2023
£
6,231
Total
2024
£
742
Total
2024
£
9,791
 Total
2023
£
132
Total
2023
£
5,683

25

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

7 Expenditure on charitable activities

Unrestricted

Unrestricted
General
Note
£
Governance costs
8
1,440
Depreciation
118
Staff costs
41,156
Freelance project
staff
-
Staff training
501
Volunteer expenses
880
Rent, rates and
venue hire
10,080
Insurance
1,284
Project costs
-
Repairs and
maintenance
799
Telephone and
internet
1,871
Computer software
and maintenance
costs
3,104
Printing, postage and
stationery
1,917
Travel expenses
2,497
Hospitality
and
refreshment
expenses
2,013
Bank charges
126
Legal and
professional fees
1,488
Cleaning
438
Subscription and
membership fees
267
69,979		 Restricted
£
-
-
54,251
52,806
-
-
-
-
3,369
-
-
-
-
-
-
-
-
-
-
110,426		 Total
2024
£
1,440
118
95,407
52,806
501
880
10,080
1,284
3,369
799
1,871
3,104
1,917
2,497
2,013
126
1,488
438
267
180,405		 Total
2023
£
1,440
37
87,430
30,445
-
315
10,080
1,250
3,089
579
1,514
2,500
726
1,606
1,777
152
963
1,154
281
145,338

26

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

27

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

11 Independent examiner's remuneration

Examination of the financial statements

2024
£
1,440		 2023
£
1,440

12 Taxation

The charity is a registered charity and is therefore exempt from taxation.

13 Tangible fixed assets

Cost
At 1 April 2023
Additions
At 31 March 2024
Depreciation
At 1 April 2023
Charge for the year
At 31 March 2024
Net book value
At 31 March 2024
At 31 March 2023
14 Debtors
Prepayments
15 Cash and cash equivalents
Cash on hand
Cash at bank		 Office
equipment
£
449
849
1,298
37
118
155
1,143
412
2024
£
665
2024
£
959
116,545
117,504		 Total
£
449
849
1,298
37
118
155
1,143
412
2023
£
708
2023
£
556
118,836
119,392

28

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

16 Creditors: amounts falling due within one year

Other loans
Payroll taxes due
Other creditors
Accruals - independent examination
Deferred income
17 Creditors: amounts falling due after one
year
Bank loans
18 Funds
Balance at
1
April 2023
£
Unrestricted funds
General
88,687
Restricted funds
24,113
Total funds
112,800

Balance at
1
April 2022
£
Unrestricted funds
General
78,514
Restricted funds
28,214

Total funds
106,728
 Other loans
Payroll taxes due
Other creditors
Accruals - independent examination
Deferred income
17 Creditors: amounts falling due after one
year
Bank loans
18 Funds
Balance at
1
April 2023
£
Unrestricted funds
General
88,687
Restricted funds
24,113
Total funds
112,800

Balance at
1
April 2022
£
Unrestricted funds
General
78,514
Restricted funds
28,214

Total funds
106,728
 Incoming
resources
£
48,567
134,061		 2024
£
150
2,263
-
1,876
-
4,289
2024
£
-
Resources
expended
£
(69,979)
(110,426)

112,800

Balance at
1
April 2022
£
78,514
28,214

106,728
 182,628

Incoming

resources

£
41,490
109,919
151,409
(180,405)
Resources
expended
£
(31,318)
(114,020)
(145,338)

29

Chain Reaction Theatre Company

Notes to the Financial Statement for the Year Ended 31[st] March 2024

19 Analysis of net assets between funds

19 Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Total net assets
Tangible fixed assets
Current assets
Current liabilities
Creditors over 1 year
Total net assets		 Unrestricted
funds
General
£
1,143
70,422
(4,289)
67,276
Unrestricted
funds
General
£
412
95,987
(7,563)
(150)
88,686		 Restricted
Total funds
at 31
March
funds
2024
£
£
-
1,143
47,747
118,169
-
(4,289)
47,747
115,023
Total funds
at
Restricted
31 March
funds
£
2023
£
-
412
24,113
120,100
-
(7,563)
-
(150)
24,113
112,799

30