Registered number: 05154096 Charity number: 1116506
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2022
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
| CONTENTS | |
|---|---|
| Page | |
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Chairman's Statement | 2 |
| Trustees' Report | 3 - 6 |
| Independent Examiner's Report | 7 - 8 |
| Statement of Financial Activities | 9 |
| Balance Sheet | 10 - 11 |
| Statement of Cash Flows | 12 |
| Notes to the Financial Statements | 13 - 28 |
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2022
Trustees
Catrin Menna Thomas Jacquelyn Shreeves-Lee Christine King Andrew Bradford (resigned 16 March 2022) Meseret Zekai Roger Cowe Ayo Oyebade Sean Langford Mary Fernandes Shamima Lutfee Gazi Suzannah Talia Yiannni (appointed 17 May 2022)
Company registered number
05154096
Charity registered number
1116506
Registered office
52 Market Square Edmonton Green Shopping Centre London N9 0TZ
Company secretary
Raymond Downing
Accountants
BKL Audit LLP Chartered Accountants 35 Ballards Lane London N3 1XW
Bankers
HSBC plc 10 South Mall Edmonton London N9 0QU
Page 1
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2022
The year began with covid requirements continuing to restrict live activities but Face Front continued to adapt and emerged as strong as ever thanks to the dedication and initiative of our small, hard-working team. Restrictions on live performance led us to create film versions of our shows, helped by construction of our ‘green screen’, which is also available for hire by Arts and other organisations.
Through these films we have been able to reach a much wider audience. Whisper Me Digital, our show about domestic violence, has been seen by almost 9000 students in approximately 100 schools across 18 boroughs.
The Face Front Fest went ahead in summer as an online event with contributions from all our groups, including songs from the Broken Silence album and a soap opera by DDM, our performing arts group for young people. We completed the album and film of the Equilibrium show, which had a successful premiere at the Lee Valley Odeon in summer 2022.
We were able to get back to live activities again in autumn 2021 although some group members continued to participate online. It’s My Move, our show for learning disabled young people about the transition from school to adult life, toured across London as well as several towns around the country. There were 27 performances to more than 1200 pupils as well as several workshops.
The year also saw further R&D continued the creation of our new show The Hero Next Door, which will be touring the country in 2023. Our corporate training helping managers support staff experiencing emotional difficulties also continued.
A major task during the year was preparing to apply to the Arts Council for National Portfolio (NPO) status, which will allow us to continue reaching wider audiences and increasing opportunities for disabled performers. This included developing a three-year business plan setting out the financial implications of our ambitions for the near future. We also created a ‘Green Team’ to strengthen our commitment to environmental responsibility. The board also took part in anti-racist training to help us ensure we continue to enjoy good relations with the diverse communities we serve.
At the annual meeting in November 2021 we were sad to lose the membership of Andrew Bradford, a longstanding supporter and my predecessor as Chair. We subsequently co-opted Susannah Yianni who will bring Face Front valuable knowledge and experience.
The accounts show an unusually large surplus for the year which we do not expect to be repeated. This is due mainly to a change in the application of accounting rules which requires substantial grant income to be included in the year although the bulk of activities the grants are funding will take place in subsequent years. Our policy continues to target a small surplus each year, which we plan to return to in 2022/3. While we will not repeat this year’s exceptional result I am confident we are well-placed to continue meeting the needs of audiences and community members despite the difficult economic conditions facing our communities and schools.
Roger Cowe Chairman Date:
Page 2
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2022
The Trustees present their annual report together with the financial statements of the charity for the year 1 April 2021 to 31 March 2022. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2015) as amended by Update Bulletin 1 (effective January 2015).
Since the charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The principal objectives of the company are to advance the education of the public in the arts, in particular the arts of theatre, drama, poetry, singing, dance, movement and music, in particular but not exclusively among young people and people with disabilities.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.
b. Principal activites
Our activities continue to be the development and delivery of original, inclusive theatre with disabled and nondisabled artists, especially in schools and the community. During the covid pandemic restrictions we developed online, radio and film versions of our touring productions.
We have strengthened partnerships with similar arts organisations during the year, pursuing our vision of leading in innovative inclusive theatre and creating more opportunities to inspire young people.
To achieve our goals we need support from a range of external funders and we have continued to expand the sources of funds during the year.
During the year we reached almost 9,000 students and staff and involved 150 people in our local groups. This is only possible due to the commitment of our staff, volunteers, freelancers and trustees and the support of our funders.
c. Volunteers
Face Front operates with a number of volunteers in addition to the trustees. They are particularly important for the activities of our community groups.
Page 3
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Achievements and performance
a. Review of activities
Face Front continued to operate eight community groups and produce tours to primary, secondary and special schools. During the year we conducted research and development for a new production: The Hero Next Door which will tour in 2023. Covid required significant adaptation and innovation which included creating a digital version of our domestic abuse show Whisper Me Happy Ever After.
b. Factors relevant to achieve objectives
We are reliant on the ability to continue attracting financial support from a range of funders including Arts Council England. The commitment of staff and volunteers is crucial to our success.
c. Fundraising activities and income generation
Face Front sustains continual fundraising activity, focusing on a widening range of Foundations, Trusts and other grant-making bodies and has continued to be successful in attracting funding for our groups and school tours. This income source is supplemented by fees payable by schools and group participants. We seek to diversify income sources by developing drama-based workshops for private sector organisations.
Financial review
a. Going concern
After making appropriate enquiries, the Trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.
b. Reserves policy
The charity’s reserves policy is to maintain liquid funds equal to at least six months’ core costs, which are primarily salaries and premises costs. This level of reserves has been exceeded throughout the year.
c. Financial performance
Our finances were boosted by several exceptional receipts, including a one-off covid-related grant from Enfield council, as well as substantially increased activity following easing of covid restrictions. The exceptional surplus also reflects a change in the application of accounting rules which includes substantial grant income to be included in the year although the bulk of activities the grants are funding will take place in subsequent years.
Our main income comes from grants and donations, amounting to £571,134 in the year, two and a half times the previous year (2021: £221,671), which was a more typical income level. Ticket sales and charges were £25,503 (2021: £10,968). Total income reached £602,077 (2021: £233,764).
Expenditure for the year was £446,236 (2021: £205,538), resulting in a current surplus of £155,841 (2021: £28,226).
Page 4
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
d. Principal risks and uncertainties
Face Front carries out a risk management review led by the Trustees to identify and act on risks to our continued operations. This has identified the loss of key staff and fundraising failures as the most substantial risks.
e. Trustees' Indemnities
Trustees are protected by Directors’, Trustees’ and Officers’ Liability.
Structure, governance and management
a. Constitution
Face Front Inclusive Theatre Ltd is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. It has no share capital.
b. Methods of appointment or election of Trustees
Recruitment of trustees is by recommendation from board members, creative team members or participants and then, following a probation period of four months, a mutual decision is made on appointment.
c. Organisational structure and decision-making policies
The trustees meet approximately six times a year and are responsible for management of the company. The artistic director and associate directors also attend the trustees meetings in a non-voting capacity.
d. Policies adopted for the induction and training of Trustees
New trustees attend an induction from one of the creative team including a one to one talk about the charity. They also receive a copy of the Charity Commission publication CC3 'The Essential Trustee: What you need to know'.
e. Risk management
During the year the Trustees reviewed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.
Page 5
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
Plans for future periods
Face Front will continue to extend our reach and profile both regionally and nationally with a cultural education program improving emotional wellbeing for socially disadvantaged young people and adults. This will be supported by an energetic fundraising program, building on and creating new relationships with our current and new funders including public grant giving bodies, trusts and foundations, corporate support and sponsorship.
Our plans include a new, high quality, show A Hero Next Door, which will tour to small/mid sized venues for school groups and family audiences. We will continue to tour to schools our shows Whisper Me Happy Ever After and It’s My Move, develop digital resources and build our Corporate Training offer.
We are optimistic about our future and our ability to deliver on our mission to address social injustice through multi-accessible theatre.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . 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 charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
-
observe the methods and principles of the Charities SORP (FRS 102);
-
make judgments and accounting estimates that are reasonable and prudent;
-
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
-
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charity's transactions and disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
Roger Cowe (Chair of Trustees) Date: 12 December 2022
Page 6
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2022
Independent Examiner's Report to the Trustees of Face Front Inclusive Theatre Ltd ('the charity')
I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2022.
Responsibilities and Basis of Report
As the Trustees of the charity (and 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 charity 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 the charity's accounts 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
Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
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:
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accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts do not comply with the accounting requirements of section 396 of the 2006 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
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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.
Page 7
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2022
This report is made solely to the charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.
Signed:
Dated: 12 December 2022
Ian Saunderson FCA
BKL Audit LLP
Chartered Accountants
Page 8
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022
| Note Income from: Donations and grants 2 Charitable activities 3 Investments 4 Other income 5 Total income Expenditure on: Charitable activities 6 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward |
Restricted funds 2022 £ 496,082 - - - 496,082 365,122 365,122 130,960 34,909 130,960 165,869 |
Unrestricted funds 2022 £ 75,052 25,503 440 5,000 105,995 81,114 81,114 24,881 127,692 24,881 152,573 |
Total funds 2022 £ 571,134 25,503 440 5,000 602,077 446,236 446,236 155,841 162,601 155,841 318,442 |
Total funds 2021 £ 221,671 10,968 588 537 |
|---|---|---|---|---|
| 233,764 | ||||
| 205,538 | ||||
| 205,538 | ||||
| 28,226 | ||||
| 134,375 28,226 |
||||
| 162,601 |
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 13 to 28 form part of these financial statements.
Page 9
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee) REGISTERED NUMBER: 05154096
BALANCE SHEET AS AT 31 MARCH 2022
| Note Fixed assets Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Creditors: amounts falling due within one year 13 Net current assets Total assets less current liabilities Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
6,775 369,423 376,198 (87,264) |
2022 £ 29,508 29,508 288,934 318,442 318,442 165,869 152,573 318,442 |
12,945 328,005 340,950 (180,714) |
2021 £ 2,365 |
|---|---|---|---|---|
| 2,365 160,236 |
||||
| 162,601 | ||||
| 162,601 | ||||
| 34,909 127,692 |
||||
| 162,601 |
Page 10
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee) REGISTERED NUMBER: 05154096
BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2022
The charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
Roger Cowe Chair of Trustees Date: 12 December 2022
The notes on pages 13 to 28 form part of these financial statements.
Page 11
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022
| Cash flows from operating activities Net cash used in operating activities Cash flows from investing activities Dividends, interests and rents from investments Purchase of tangible fixed assets Net cash used in investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 13 to 28 form part of these financial statements |
2022 £ 73,772 440 (32,794) (32,354) - 41,418 328,005 369,423 |
2021 £ 80,805 588 (659) (71) - 80,734 247,271 328,005 |
|---|---|---|
Page 12
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies
1.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - 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 October 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The charity has taken advantage of Update Bulletin 1 to not include the cash flow.
1.2 Going concern
Continued fundraising success has secured adequate financing for our activities in the coming year. The Charity therefore has sufficient funds to cover committed expenditure. Combined with future grant commitments that the charity is due to receive and the healthy cash balance at the balance sheet date, this has given the Trustees assurance that the charity will be able to continue operating for at least twelve months from the date of signature of these accounts.
The accounts have therefore been prepared on a going concern basis.
1.3 Income
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 income receivable can be measured reliably.
Grants are included in the Statement of Financial Activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
1.4 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the charity's objectives, as well as any associated support costs.
All expenditure is inclusive of irrecoverable VAT.
Page 13
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
1.5 Charity status
The charity is a company limited by guarantee. The directors of the company are the Trustees at the beginning of the accounts
In the event of the company being wound up, the liability in respect of theguarantee is limited to £1 per member of the company
1.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
1.7 Tangible fixed assets and depreciation
Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, .
Depreciation is provided on the following bases:
- Leasehold improvements Straight line over the term of the lease - Plant and machinery Straight line over ten years - Office equipment Straight line over three years
1.8 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
1.9 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 14
FACE FRONT INCLUSIVE THEATRE LTD (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
1. Accounting policies (continued)
1.10 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
1.11 Financial instruments
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
1.12 Pensions
The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.
1.13 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 15
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
2. Income from donations and legacies
| Donations Grants Donations Grants |
Restricted funds 2022 £ - 496,082 496,082 Restricted funds 2021 £ - 216,751 216,751 |
Unrestricted funds 2022 £ 5,052 70,000 75,052 Unrestricted funds 2021 £ 4,920 - 4,920 |
Total funds 2022 £ 5,052 566,082 |
|---|---|---|---|
| 571,134 | |||
| Total funds 2021 £ 4,920 216,751 |
|||
| 221,671 |
Page 16
(A Company Limited by Guarantee)
FACE FRONT INCLUSIVE THEATRE LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Grants received | ||
|---|---|---|
| 2022 | 2021 | |
| £ | £ | |
| Arts Coucil England | 111,830 | 48,218 |
| BBC Children in Need | 30,964 | 19,873 |
| Big Lottery Fund | 67,190 | 17,620 |
| City Bridge Trust | 7,500 | 45,249 |
| Co-op Trust | 2,337 | - |
| Daytrippers Foundation | 1,880 | - |
| Camden Learning | 6,000 | - |
| Chapman Charitable Trust | 2,000 | - |
| Haringey Council | 5,000 | - |
| The Leathersellers Company Charitable Fund | 10,000 | 10,000 |
| The Baily Thomas Chritable Fund | 5,000 | - |
| The Mercers Company | 20,130 | 14,267 |
| The Tottenham Grammar School Foundation | 11,000 | - |
| John Laing Charitable Trust | - | 1,000 |
| Marsh Christian Trust | - | 300 |
| Backstage Trust | 10,000 | 20,000 |
| Cast | - | 5,000 |
| The Clothworkers' Foundation | - | 5,000 |
| John Lyons | 60,775 | 15,225 |
| Barchester's Charitable Trust | 1,000 | - |
| Enfield Council | 5,000 | - |
| Enfield Connections Community Chest | 2,000 | - |
| Harold Hyam Wingate Foundation | 8,000 | - |
| L & Q Placemakers | 5,000 | - |
| Peoples Health Trust | 21,256 | - |
| Portal Trust, formally Sir John Cass Foundation | 16,500 | - |
| Speedomick Foundation | 3,000 | - |
| Stratford Arts Trust | 42,320 | - |
| Sussex Community Foundation | 5,000 | - |
| The Albert Hunt Trust | 5,000 | - |
| The Ironmongers' Company | 10,000 | - |
| The Sir Jules Thorn Charitable Trust | 1,000 | - |
| The Souter Charitable Trust | 3,000 | - |
| Warburtons Community Grants | 400 | - |
| Young Barnet Foundation | 6,000 | - |
Page 17
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
| Enfield ARG COVID Recovery Other 3. Income from charitable activities Ticket sales for performances Ticket sales for performances 4. Investment income Interest receivable Interest receivable |
70,000 10,000 566,082 Unrestricted funds 2022 £ 25,503 Unrestricted funds 2021 £ 10,968 Unrestricted funds 2022 £ 440 Unrestricted funds 2021 £ 588 |
- 15,000 |
|---|---|---|
| 216,752 | ||
| Total funds 2022 £ 25,503 |
||
| Total funds 2021 £ 10,968 |
||
| Total funds 2022 £ 440 |
||
| Total funds 2021 £ 588 |
Page 18
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
5. Other incoming resources
| Theatre Tax Credit Gift Aid |
Unrestricted funds 2022 £ 5,000 Unrestricted funds 2021 £ 537 |
Total funds 2022 £ 5,000 Total funds 2021 £ 537 |
|---|---|---|
6. Analysis of expenditure on charitable activities Summary by fund type
| Direct costs Support costs Direct costs Support costs |
Restricted funds 2022 £ 365,122 - 365,122 Restricted funds 2021 £ 187,985 - 187,985 |
Unrestricted funds 2022 £ 75,660 5,454 81,114 Unrestricted funds 2021 £ 10,405 7,148 17,553 |
Total funds 2022 £ 440,782 5,454 |
|---|---|---|---|
| 446,236 | |||
| Total funds 2021 £ 198,390 7,148 |
|||
| 205,538 |
Page 19
FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7. Analysis of expenditure by activities
| Direct costs Support costs Direct costs Support costs |
Activities undertaken directly 2022 £ 440,782 - 440,782 Activities undertaken directly 2021 £ 198,390 - 198,390 |
Support costs 2022 £ - 5,454 5,454 Support costs 2021 £ - 7,148 7,148 |
Total funds 2022 £ 440,782 5,454 |
|---|---|---|---|
| 446,236 | |||
| Total funds 2021 £ 198,390 7,148 |
|||
| 205,538 |
Page 20
(A Company Limited by Guarantee)
FACE FRONT INCLUSIVE THEATRE LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
7. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Staff costs Depreciation Utilities Running costs Transport Rent and rates Marketing, advertising and promotion Performance and workshop subcontractors Performance and workshop costs IT costs Management costs Audience development |
Total funds 2022 £ 63,289 5,651 808 45,731 657 11,817 21,125 196,014 69,949 802 2,978 21,961 440,782 |
Total funds 2021 £ 71,024 2,522 878 35,643 324 9,777 9,338 40,863 15,155 2,286 1,865 8,715 |
|---|---|---|
| 198,390 |
Analysis of support costs
| Governance costs Tax consultancy Accountancy fees |
Total funds 2022 £ 2,291 1,200 1,963 5,454 |
Total funds 2021 £ 1,792 1,066 4,290 |
|---|---|---|
| 7,148 |
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FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
8. Staff costs
| Wages and salaries Social security costs Contribution to defined contribution pension schemes |
2022 £ 58,237 3,781 1,271 63,289 |
2021 £ 67,373 2,423 1,228 |
|---|---|---|
| 71,024 |
The average number of persons employed by the charity during the year was as follows:
| 2022 | 2021 | |
|---|---|---|
| No. | No. | |
| Employees | 2 | 2 |
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel received renumeration of £58,877 (2021 - £67,373).
9. Independent Examination fee
The Independent Examiner’s renumeration amounts to a fee of £2,500 (2021: £2,400).
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .
During the year ended 31 March 2022, no Trustee expenses have been incurred (2021 - £NIL) .
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FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
11. Tangible fixed assets
| Cost or valuation At 1 April 2021 Additions At 31 March 2022 Depreciation At 1 April 2021 Charge for the year At 31 March 2022 Net book value At 31 March 2022 At 31 March 2021 Debtors Due within one year Trade debtors Prepayments and accrued income |
Short-term leasehold property £ 41,450 - 41,450 40,647 803 41,450 - 803 |
Plant and machinery £ - 30,881 30,881 - 3,088 3,088 27,793 - |
Office equipment £ 3,436 1,913 5,349 1,874 1,760 3,634 1,715 1,562 2022 £ 850 5,925 |
Total £ 44,886 32,794 77,680 42,521 5,651 48,172 29,508 2,365 2021 £ 12,020 925 |
||
|---|---|---|---|---|---|---|
| 6,775 | 12,945 |
12. Debtors
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FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
13. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Accruals and deferred income Deferred income at 1 April 2021 Resources deferred during the year Amounts released from previous periods |
2022 £ 19,564 1,860 65,840 87,264 2022 £ 171,576 61,490 (171,576) 61,490 |
2021 £ 4,277 781 175,656 180,714 2021 £ 127,001 171,576 (127,001) 171,576 |
|---|---|---|
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FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
14. Statement of funds
Statement of funds - current year
Unrestricted funds Designated funds New mini-bus Hero Next Door class Interaction class Broken Silence class General funds General Funds - all funds Total Unrestricted funds Restricted funds Classes ran within the year Whisper Me 2022/23 class It's My Move 2022/23 class Blue Sky Theatre 2022/23 class BLF 2022/23 class New mini-bus Total of funds |
Balance at 1 April 2021 £ - - - - - 127,692 127,692 14,909 - - - - 20,000 34,909 162,601 |
Income £ 15,000 25,000 10,000 10,000 60,000 45,995 105,995 432,126 14,000 5,000 17,150 12,806 15,000 496,082 602,077 |
Expenditure £ - - - - - (81,114) (81,114) (365,122) - - - - - (365,122) (446,236) |
Balance at 31 March 2022 £ 15,000 25,000 10,000 10,000 |
|---|---|---|---|---|
| 60,000 | ||||
| 92,573 | ||||
| 152,573 | ||||
| 81,913 14,000 5,000 17,150 12,806 35,000 |
||||
| 165,869 | ||||
| 318,442 |
Page 25
(A Company Limited by Guarantee)
FACE FRONT INCLUSIVE THEATRE LTD
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
14. Statement of funds (continued)
Statement of funds - prior year
| Unrestricted funds General Funds - all funds Restricted funds Restricted Funds - all funds Total of funds |
Balance at 1 April 2020 £ 128,232 6,143 134,375 |
Income £ 17,013 216,751 233,764 |
Expenditure £ (17,553) (187,985) (205,538) |
Balance at 31 March 2021 £ 127,692 |
|---|---|---|---|---|
| 34,909 | ||||
| 162,601 |
Restricted Funds
As described in note 1.13 restricted funds are fund which are to be used in accordance with specific restrictions imposed by donors.
All the restricted funds received in the period relate to specific theatrical projects undertaken by the charity, and all these funds were spent during the period on those projects.
Projects that have ended with positive reserves have, under their funding agreements, the right to transfer funds to management costs that are expended from general funds which are related to that project.
General Funds
As described in note 1.13, general funds are available for use at the discretion of the Trustees for the further ance of the charity’s general objectives.
These funds represent all funds other than the restricted funds described above.
Designated Funds
Designated funds are funds which are not restricted by the donor but which have been earmarked by the trustees for specific activities or expenditure in the following year.
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FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Restricted funds 2022 Unrestricted funds 2022 £ £ Tangible fixed assets - 29,508 Current assets 165,869 210,329 Creditors due within one year - (87,264) Total 165,869 152,573 Analysis of net assets between funds - prior year Restricted funds 2021 Unrestricted funds 2021 £ £ Tangible fixed assets - 2,365 Current assets 34,909 306,041 Creditors due within one year - (180,714) Total 34,909 127,692 16. Reconciliation of net movement in funds to net cash flow from operating activities 2022 £ Net income for the year (as per Statement of Financial Activities) 155,841 Adjustments for: Depreciation charges 5,651 Dividends, interests and rents from investments (440) (Increase)/decrease in debtors 6,170 Increase/(decrease) in creditors (93,450) Net cash provided by operating activities 73,772 |
Total funds 2022 £ 29,508 376,198 (87,264) 318,442 Total funds 2021 £ 2,365 340,950 (180,714) 162,601 2021 £ 28,226 2,522 (588) 9,622 41,023 80,805 |
|---|---|
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FACE FRONT INCLUSIVE THEATRE LTD
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022
17. Analysis of cash and cash equivalents
| Cash in hand Total cash and cash equivalents |
2022 £ 369,423 369,423 |
2021 £ 328,005 |
|---|---|---|
| 328,005 |
18. Analysis of changes in net debt
| Cash at bank and in hand | At 1 April 2021 £ 328,005 328,005 |
Cash flows £ 41,418 41,418 |
At 31 March 2022 £ 369,423 |
|---|---|---|---|
| 369,423 |
19. Operating lease commitments
At 31 March 2022 the charity had commitments to make future minimum lease payments under noncancellable operating leases as follows:
| Not later than 1 year Later than 1 year and not later than 5 years |
2022 £ 5,571 21,169 26,740 |
2021 £ 6,475 - |
|---|---|---|
| 6,475 |
20. Related party transactions
During the year, Jacquelyn Shreeves-Lee, a Trustee, was paid £3,000 for professional fees as a counsellor (2021: £3,000). This payment is in accordance with the charity’s Memorandum and Articles of Association.
Page 28