2023-03-31-accounts

			Page
Report ofthe	Trustees		1-12
Independent	Examiner's	Report
Statement of	Financial	Activities	14
Balance Sheet			15
Notes to the	Financial Statements		16-24

Paul Scott Armfield		Appointed	17May 2022
Paloma Jacob-Duvernet		Appointed	29 April 2022
Hazaud Regis Gnaly		Appointed	2 May 2022
Iza Aparecida De Oliveira Augusto
Malcolm Marshall	(Chair)	Appointed	31August 2023
Penelope Diaz		Appointed	22April 2023
Laide Sonola		Appointed	22April 2023
Alexander Sabine		Appointed	22April 2023
Ben Murray-Holmes		Appointed	22April 2023
Almiro de Andrade	Santos	Resigned	31August 2023
Susannah Frances	Finzi	Resigned	22 April 2023
Penelope Karen Neu		Resigned	22 April 2023

Forthe y	ear 1 April 2022 to 31 March 2023, our total income was F64,845
~	EXPENDITURE
Forthe year 1 April 2022 to 31 March 2023, our total expenditure was E116,503
The company runs activities and projects that span over multiple financial years. These activities			and projects had funds
secured	before the financial year ending 31 March 2023.
Difference between income and expenditure (f51,658)was covered by funds carried forward from previous				financial year.
~	ACCOUNTANTS
A resolution proposing the ieappointment ofGibson Whitter as examiner will be submitted		atthe	Annual General
Meeting.
~	INVESTMENTS
The charity has no investments.
~	RISK MANAGEMENT
The company undertakes periodic reviews for different areas ofrisk including insurance cover, health and safety policies						in		the
workplace	and whilst performing, working with young people, children and vulnerable adults,	financial affairs, personnel
practices,	ICTtechnology.
~	RESERVES POLICY
The Trustees have agreed a policy for the retention of unrestricted free reserves such that a designated				fund representing
the equivalent ofthree month's expenditure should be built up as a safeguard against financial			risk and to ensure that			the
company	is able to meet its obligations in the event ofclosure.
~	RESERVES
The movement in reserves isshown in note 15to the accounts. On 31stMarch 2023the company			held f9,003
Unrestricted Reserves.
A prior year adjustment was carried out. See note 11 in the accounts for more detail.
~	GOING CONCERN
The Trustees consider a going concern basis is appropriate forthe preparation ofthe accounts.
The Trustees having considered future activities are confident that the company will continue totrade forthe 12months
following	the date ofthis report. Please refer to note 1 in the accounts for more detail.
Future	Plans: For the next12 months following the date ofthis report, a number ofprojects have		already	been confirmed,				or
are in advanced stages ofdevelopment.
Medium	and large-scale projects include:
~	Out On An Island - Our community heritage and oral history project funded by The National Lottery Heritage				Fund,
	explorers over 100years of LGBTQ+ history on the Isle ofWight. The project current edition (Pride in Self. Pride							in
	Place) runs until October 2024. A new phase (Building Bridges) is planned, to start in November			24, subject to			funds
	from The National Lottery Reaching Communities.
~	Joe Carstairs - A new touring production which will be headlining the 96Festival	at Omnibus Theatre (London—
	June 2024) over athree week run, before transferring to Quay Arts (Isle ofWight	- July 2024) for athree night					run.
	Plans are under way for a national and international tour from 2025.
~	Directors In Practice Programme (DIPP) - Later in 2024 we are planning to bring	back	our flagship training
	programme working with diverse emerging theatre directors and producers leading to a Festival			showcasing	their
	talents. Subject to funds, our plan is to develop this new edition as an international collaboration			with partners		from
	India, which will see theatre makers collaborating across borders and presenting	their work in London, the Isle					of
	Wight and India.
Small-scale projects include:
~	Coproduction / Presentation ofthe show Labels in partnership with company Worklight		and venue Quay Arts		(May
	2024), exploring issues ofidentities and the labels that are imposed on us and the labels we impose on others.
~	Summer Drama School in partnership with Quay Arts (Newport —Isle ofWight).	Free theatre training for young
	islanders aged 8to 15.
~	Hear Me Now Co-production with Brevity (Isle ofWight). An Arts Council funded	project which will enable aspiring
	LGBTQ+ writers to develop their skill working alongside professional writers, culminating in their			work being
	published and performed by professional actors.
The trustees who are also directors ofthe charity for the purposes ofthe Companies Act		2006,	present their report with				the
financial	statements of the charity for the year ended 31 March 2023. The trustees	have	adopted	the provisions				of
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)
(effective	1 January 2019).

						31.3.23	31.3.22
				Unrestricted	Restricted	Total	Total
				funds	funds	funds	funds
							as restated
			Notes
INCOME AND ENDOWMENTS		FROM
Donations and legacies				786	550	1,336	54,932
Charitable activities
Theatre productions,	Community
Engagement and Training				12,148	51,299	63,447	41,638
Investment income				62		62
Total				12,996	51,849	64,845	96,575
EXPENDITURE ON
Raising funds				1,289		1,289	1,474
Charitable activities
Theatre productions,	Community
Engagement and Training				45,999	69,215	115,214	106,443
Total				47,288	69,215	116,503	107,917
NET INCOME/(EXPENDITURE)				(34,292)	(17,366)	(51,658)	(11,342)
Transfers between funds			15	~17,366)	17,366
Net movement in funds				(51,658)		(51,658)	(11,342)
RECONCILIATION OF FUNDS
Total funds brought	forward
As previously reported				15,879	37,068	52,947	72,003
Prior year adjustment			11	44,782	~37,068)	7,714
As restated				60,661		60,661	72,003
TOTAL FUNDS CARRIED FORWARD				9,003		9,003	60,661

	BALANCE SHEET 31 MARCH 2023
		31.3.23	31.3.22
			as restated
	Notes		F
CURRENT ASSETS
Debtors	12	4,618	7,714
Cash at bank		9,825	53,697
		14,443	61,411
CREDITORS
Amounts falling due within one year	13	(5,440)	(750)
NET CURRENT ASSETS		9,003	60,661
TOTAL ASSETSLESSCURRENT
LIABILITIES		9,003	60,661
NET ASSETS		9,003	60,661
FUNDS	15
Unrestricted funds		9,003	60,661
TOTAL FUNDS		9,003	60,661

					31.3.23	31.3.22
						as restated
					F	F
	Donations				1,336
	Grants					54,932
					1,336	54,932
	Grants received,	included	in the above,	are as follows:
					31.3.23	31.3.22
						as restated
	Arts Council England - Covid Emergency			Fund		54,932
3.	INVESTMENT INCOME
					31.3.23	31.3.22
						as restated
	Deposit account	interest			62	5

INCOME FROM	CH	ARIT	AB	LE ACTIVIT	IES
								31.3.23	31.3.22
				Activity				f	as restated
Fees, commissions		and		Theatre productions,		Community
co-productions				Engagement	and Training			23,947	7,674
Grants				Theatre productions,		Community
				Engagement	and Training			39,500	33,964
								63,447	41,638
Grants received,	included		in	the above, are as follows:
								31.3.23	31.3.22
									as restated
Heritage Lottery	Fund							30,000	4,240
Royal Victoria Hall Foundation									1,500
Age UK									1,000
Southern Water									8,000
Carisbrooke Castle		Museum							3,000
IOW Council								7,000
Arts Council England									16,224
The Great British	Sasakawa			Foundation				2,500
								39,500	33,964
RAISING FUNDS
Raising donations		and	legacies
								31.3.23	31.3.22
									as restated
Fundraising training								1,289	1,474
CHARITABLE ACTIVITIES				COSTS
							Direct	Support
							Costs (see	costs (see
							note 7) f	note 8)	Totals f
Theatre productions,		Community
Engagement and	Training						110,858	4,356	115,214

7.	DIRECT COS	TS OF	C	HARITABLE ACTIVITIES
						31.3.23	31.3.22
						f	as restated f
	Production fees and costs					74,694	66,520
	Subcontractors					36,164	34,586
						110,858	101,106
8.	SUPPORT COSTS
						Governance
					Management f	costs f	Totals
	Theatre productions,		Community
	Engagement	and Training			2,566	1,790	4,356
	Support costs, included			in the above, are as follows:
	Management
						31.3.23	31.3.22
							as restated
						Theatre
						productions,
						Community
						Engagement
						and	Total
						Training f	activities f
	Bank charges					62	10
	Insurance					975	1,170
	Subscriptions					622	854
	Computer expenses					499	1,178
	Legal and professional			fees		408	500
						2,566	3,712
	Governance	costs
						31.3.23	31.3.22
							as restated
						Theatre
						productions,
						Community
						Engagement
						and	Total
						Training	activities
	Examiners fee - Gibson			Whitter		1,440
	Examiners fee - F Lachmann					350	1,625
						1,790	1,625

There were no trustees' expenses paid for the year ended 31 March 20 31 March 2022.	There were no trustees' expenses paid for the year ended 31 March 20 31 March 2022.	There were no trustees' expenses paid for the year ended 31 March 20 31 March 2022.	23 nor for th	e year ended
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
		Unrestricted	Restricted	Total
		funds	funds	funds
				as restated
				F
INCOME AND ENDOWMENTS	FROM
Donations and legacies		54,932		54,932
Charitable activities
Theatre productions, Community
Engagement and Training		7,674	33,964	41,638
Investment income
Total		62,611	33,964	96,575
EXPENDITURE ON
Raising funds		1,474		1,474
Charitable activities
Theatre productions, Community
Engagement and Training		69,314	37,129	106,443
Total		70,788	37,129	107,917
NET INCOME/(EXPENDITURE) Transfers between funds		(8,177) ~3,165)	(3,165) 3,165	(11,342)
Net movement in funds		(11,342)		(11,342)
RECONCILIATION OF FUNDS
Total funds brought forward
As previously reported		14,866	57,137	72,003
Prior year adjustment		57,137	~57,137)
As restated		72,003		72,003
TOTAL FUNDS CARRIED FORWARD		60,661		60,661

	It has also been identified that f7,714 of accrued omitted from the accounts in 2022.	i	ncome in res	pect of this grant w	as incorrectly
	A summary ofthese changes is shown below.
				31.03.23	31.03.22
				F	F
	Reallocation of income from restricted to unrestricted			49,969	80,099
	Accrued unrestricted income Reallocation of production costs from restricted to unrestricted			7,714 ~70,038)	~22,962)
	Effect of prior year adjustment			~12,355)	57,137
	Unrestricted funds
	Total unrestricted funds brought forward as previously		stated	15,879	14,866
	Effect of2021 prior year adjustment Effect of2022 prior year adjustment			57,137 ~12,355)	57,137
	Total unrestricted funds brought forward as restated			60,661	72,003
	Restricted funds
	Total restricted funds brought forward as previously	stated		37,068	57,137
	Effect of2021 prior year adjustment			(57,137)	(57,137)
	Effect of2022 prior year adjustment			20,069
	Total restricted funds brought forward as restated			Nil	Nil
12.	DEBTORS:AMOUNTS FALLING DUE WITHIN ONE		YEAR
				31.3.23	31.3.22
					as restated
				E
	Other debtors			3,000	7,714
	Prepayments			1,618
				4,618	7,714

		31.3.23	31.3.22
			as restated
		F
Deferred	income	4,000
Accrued	expenses	1,440	750
		5,440	750

ANALY	SIS OF NET ASSETS	BETWEEN FUNDS
				31.3.23	31.3.22
					as restated
		Unrestricted	Restricted	Total	Total
		funds	funds	funds	funds
		F	F
Current Current	assets liabilities	10,443 ~1,440)	4,000 ~4,000)	14,443 ~5,440)	61,411 ~750)
		9,003		9,003	60,661

MOVEME	N	T IN FUNDS
				Prior	Net	Transfers
				year	movement	between	At
			At 1.4.22	adjustment	in funds	funds	31.3.23
			F		F
Unrestricted		funds
Unrestricted		Funds	15,879	44,782	(34,292)	(17,366)	9,003
Restricted		funds
Arts Council		- DCMS
funding			37,068	(37,068)
Out on an	Island				(11,936)	11,936
Directors	in	Practice
Showcase					~5,430)	5,430
			37,068	37,068	~17.366	17,366
TOTAL FUNDS			52,947	7,714	~51,658)		9,003

Net moveme	nt in funds, included in the above	are as follows:
		Incoming	Resources	Movement
		resources	expended	in funds
		F	F
Unrestricted	funds
Unrestricted	Funds	12,996	(47,288)	(34,292)
Restricted	funds
Utter Mess	Production	32,500	(32,500)
Out on an Island Directors in Practice Showcase		4,000 15,349	(15,936) ~20,779)	(11,936) ~5,430)
		51,849	~69,215)	~17,366)
TOTAL FUNDS		64,845	(116,503)	~51,658)

Comparativ	es for movem	ent in funds
			Prior	Net	Transfers
			year	movement	between	At
		At 1.4.21 f	adjustment P	in funds F	funds F	31.3.22
Unrestricted funds
Unrestricted	Funds	14,866	57,137	(8,177)	(3,165)	60,661
Restricted	funds
Arts Council	- DCMS
funding		57,137	(57,137)
Playdough ( Stone Crabs Young Director)				~3,165)	3,165
		57,137	)57,137)	~3,165)	3,165
TOTAL FUNDS		72,003		(11,342)		60,661

Comparativ	e net movement in funds, included	in the above are as follows	:
		Incoming	Resources	Movement
		resources	expended	in funds
		f.
Unrestricted funds
Unrestricted	Funds	62,611	(70,788)	(8,177)
Restricted	funds
Out on an	Island	16,240	(16,240)
Playdough Director)	( Stone Crabs Young	17,724	~20,889)	~3,165)
		33,964	~37,129	~3,165)
TOTAL FUNDS		96,575	~107,917)	~11,342)