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2021-12-31-accounts

Ice and Fire Theatre Company

Annual Report and Financial Statements 31 December 2021

Charity Commission Number 1118200 Company Registration Number 04648400

Ice and Fire Theatre Company

Annual Report and Financial Statements Contents

Page
Legal & Administrative Information 2
Annual Report of the Trustees 3
Independent Examiner's Report to the Trustees 7
Statement of financial activities 8
Balance sheet 9
Notes to the financial statements 10

1

Ice and Fire Theatre Company

Legal & Administrative Information For the year ended 31 December 2021

Charity Name Ice and Fire Theatre Company
Charity Registration Number 1118200 (registered with the Charity Commission on 21 November 2002)
Company Registration Number 04648400 (a company limited by guarantee)
Registered Office 11b High Hill Ferry, London E5 9HG
The Governing Document The Charity’s governing document is the Memorandum and Articles of
Association dated 27 January 2003 (amended by special resolution 30
September 2009)
Objectives The object for which the company is established is to promote, maintain,
improve and advance education for the public benefit by the encouragement of
the arts in particular the art of theatre, but not excluding the arts of mime,
dance, singing and music, and to formulate, prepare and establish schemes
therefore provided that all objects of the Charity shall be of a charitable nature.
The Charity explores human rights stories through performance. We are the
only theatre company putting the human rights issues of the day at the core of
our work, collaborating with a range of organisations to create work across our
interconnecting artistic and participatory programme. The Charity creates a
constituency for human rights in the UK. We develop original theatre pieces
from actual human rights evidence and testimony. Each piece is shaped or
informed by the real people and communities with whom we closely work.
Trustees The Trustees who served during the year or who were serving at the date of
this report were:
Rothna Begum
Gbolahan Obisesan
Waleed Akhtar
Morten Thaysen
Liz Pagett
Key Management Personnel Those in charge of planning, directing, controlling, running and operating the
Charity, including those members of staff who are the senior management
personnel to whom the trustees have delegated significant authority or
responsibility in the day-to-day running of the charity, are considered by the
Trustees to be the Trustees and Christine Bacon (Artistic Director)
Bankers Coop Bank
Delf House
Southway
Skelmersdale WN8 6WT
Independent Examiner John Helm ACA
Simply Churches Limited
17 Heathville Road
London N19 3AL

2

Ice and Fire Theatre Company

Annual Report of the Trustees For the year ended 31 December 2021

The Trustees, who are also Directors of Ice and Fire Theatre Company (“the Charity”), submit their annual report and the financial statements of the Charity for the year ended 31 December 2021. The financial statements have been prepared in the format prescribed by the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP2015 (FRS102)) and the Financial Reporting Standard 102. The legal and administrative information set out earlier in this document forms part of this report. This report also constitutes a directors’ report required by section 415 of the Companies Act 2006.

1. Structure, Governance & Management

1.1. Trustees

The Trustees meet 1-2 times a year to discuss a full range of matters relating to strategic planning and development, governance and finance.

The induction process for any individual newly-appointed to the board of Trustees comprises an initial meeting with at least two of the Trustees (whenever possible one of these two Trustees being the Chair) and receipt of copies of:

1.2 Risk Management

The Trustees acknowledge that they have a responsibility for the identification and proper management of risks faced by the Charity in achieving its primary aims. The Trustees have therefore assessed the major risks to which the Charity is exposed, in particular those relating to the specific operational areas of the Charity, its investments and its finances. The Trustees believe that, by monitoring reserve levels, by ensuring that controls exist over key financial systems, and by examining the operational risks faced by The Charity, they have established effective systems and procedures to mitigate those risks.

2. Activities, Strategies & the Public Benefit

In preparing this report, we have complied with the duty in section 4 of the Charities Act 2011 to have due regard to public benefit guidance published by the UK Charity Commission and have sought to demonstrate that it provides identifiable benefits which relate directly to its aims as stated in its Memorandum and Articles of Association and which outweigh any potential detriment or harm. Further, the benefits are publicly available to all and are not in any way restricted to those able to pay. Any private benefits to Trustees and members of the Charity are incidental.

The activities of the company currently encompass three main strands:

3. Achievements and Performance

The Trustees of the Charity remain extremely grateful for support from: Arts Council England, MSN Trust, the Little Butterfly Foundation, the Aurum Charitable Trust and The Coronavirus Job Retention Scheme. We also received commissions from the British Red Cross, performance fees for our Actors for Human Rights events and box office income for our 2021 production. This allows us to continue our work telling the stories of people affected by human rights abuses and working directly with marginalised communities to use creative expression as a therapeutic tool.

3.1 Production

2021 was another difficult year for the company, as lockdowns and COVID regulations made live performances impossible until the final quarter of the year. We managed, however, to produce a tour and do significant work on our next production.

3

Ice and Fire Theatre Company

Annual Report of the Trustees For the year ended 31 December 2021

Playwright Isla van Tricht continued working with the company to create a new verbatim musical In Our Own Words comprising young people’s (14-24) impressions, anxieties, experiences and questions about all things sex and relationships. During the year we delivered several online and in person workshops and conducted over 30 in-depth interviews exploring opinions of sex education received, experiences they felt unprepared or prepared for, what sources of information are most influential, and what the older interviewees would tell their younger selves. We are preparing for a 2-week R&D in 2022 with a full creative team and specialist advisory board, with a view to a 2023 tour.

Our all-immigrant clown show about immigration controls called We Like to Move it Move it toured 11 London arts and community venues over 2.5 weeks in September/October. It was created by Amy Ng and Donnacadh O’Briain, in collaboration with the cast (Jahmila Heath, Tomoko Komura, Gaël Le Cornec and Sergio Maggiolo) and philosopher Dr Sarah Fine. A lot of video content was created for social media during the rehearsal/production phase, reaching many more people than saw the show live. The production was supported by Arts Council England, MSN Trust and King’s College London.

We have continued to engage students on work placements and employ artists who are interested in our approach over the year, as well as present master classes and workshops on our approach in order to empower others to consider human rights themes in their work.

3.2 Actors for Human Rights

Despite lockdowns, we managed to perform some Actors for Human Rights readings online and two readings in person towards the end of the year for the Migrants Connections Festival and Middlesex University. We delivered 18 events (half that of the previous year), 14 of which were for universities, including Ryerson University in Toronto Canada and George Town University in Washington DC USA. We were visiting 6 of the 14 universities for the first time and 8 were repeat visits.

"We were so pleased to host Ice & Fire’s Asylum Monologues at the University of Manchester. The performance, based on real testimonies from people that have experienced the UK’s asylum system, was compelling and informative. It was a truly innovative way to help students from our MA Human Rights think critically about migration and the universality of human rights. Beyond the university, the performance humanises an issue that so often is immersed in rhetoric and confusion. The Asylum Monologues addresses refugees and the UK asylum system in an authentic way, bringing light to a topic that will undoubtedly grow increasingly urgent due to the climate crisis. The performance is a vital intervention that I cannot recommend enough" Dr. Luke Bhatia, Lecturer in International Politics

We were commissioned by Amnesty International to make a short documentary about our work, which AFHR actors participated in. It was made by Nick Figgis and Craig Spenceley and is available on our youtube channel and website. We included performers with lived experience of the UK asylum process in just over 72% of our readings this year.

3.3 Podcast

We launched I am an Immigrant , our new podcast series about people who used to live somewhere else and now live here. We produced 11 episodes and there have been over 2000 downloads to date. We were chosen as a ‘Weekly Pick’ by Great British Podcasts. The gusts were as follows:

  1. Siobhán McSweeney (Irleand): The London-Irish experience

  2. Lucian Msamati (Zimbabwe): This is London people, London!

  3. Francisco Gómez (Spain): The Only Immigrant in the Village

  4. Meltem Avcil (Turkey): And So I Stood Up

  5. Babou Ceesay (Gambia): The Monster and I are Now One

  6. Amber Murrey (USA): And So I Sent Out a Tweet

  7. Nicolas Hatton (France): I Felt Like Someone Had Died in the Family

  8. Agnes Harding (Gambia): I am reminded Often that I am Still an Immigrant

  9. Maryna Sulym (Ukraine): You can Get out of Your Box here

  10. Lisa Caruccio Came (Canada/Brazil): Citizen of the World

  11. Raph Dilhan (France): I Want to Win this Thing

4

Ice and Fire Theatre Company

Annual Report of the Trustees For the year ended 31 December 2021

We are planning a second season in 2022. The project was supported by the Paul Hamlyn Foundation. https://play.acast.com/s/i-am-an-immigrant

3.4 Participation

Very unfortunately, due to the pandemic and the fact that most members of the group we formed in 2019 with Z2K are all clinically vulnerable, we had to put our participatory work on hold again for 2021. However, we have now built a partnership with Survivors UK and will be co-creating a public facing piece with some of their clients over a 9-month period in 2022.

3.5 Company

Christine Bacon served as Artistic Director. Seb Aguirre served as Director of Actors for Human Rights and Helen Clapp served as General Manager. Christine and Seb were furloughed for the majority of the year. We were also lucky to have the support of numerous volunteers during the year, as well as the many hundreds of actors who are part of the Actors for Human Rights network and who were involved in our numerous events across the UK. Darius Gervinskas completed a work placement with us as part of his degree at Central School of Speech and Drama. Alice Eve volunteered her time to help us with outreach and was briefly employed to continue some of that work.

4. Financial Review

Funding for the Charity comes from a variety of sources including trusts and foundations, performance fees, commissions and ticket sales.

4.1 Financial Activity and Financial Position

The Statement of Financial Activities and Balance Sheet can be found on pages 8 and 9 respectively. The Charity’s reserves decreased by £28,522 during the year (2020: increased by £1,213). The balance sheet shows total net assets of £51,865 (2020: £80,387).

Included in total funds are amounts totalling £24,043 (2020: £62,754) which are restricted. These monies have either been raised for, and their use restricted to, specific purposes, as specified by donors. Full details of these restricted funds can be found in note 8 to the accounts together with an analysis of movements in the year.

4.2 Reserves Policy

The Trustees have examined the requirements for free reserves, ie those unrestricted funds not invested in tangible fixed assets. The Trustees consider that, given the nature of the Charity’s work, free reserves should be equivalent to approximately 6 months’ operational expenditure. The Trustees are of the opinion that this provides sufficient flexibility to cover temporary shortfalls in incoming resources and will allow the Charity to cope and respond to unforeseen emergencies whilst specific action plans are implemented. At 31 December 2021 the Charity had net free reserves of £27,822 (2020: £17,532) as follows:

Total reserves
Less: restricted funds
Less: unrestricted fixed assets used for the continuing work of the Charity
Free reserves
Free reserves requirement:
6 month’s budgeted routine expenditure		 2021 2020
£
80,387
(62,754)
(101)
17,532
30,000
£
51,865
(24,043)

-
27,822
30,000

5

Ice and Fire Theatre Company

Annual Report of the Trustees For the year ended 31 December 2021

5. Plans for Future Periods

We plan to build up to a return to regular live events and in person project development. To increase our reach in the coming years, we are looking for strategic partnerships, especially in our work with young people and building our online presence.

6. Responsibilities of Trustees for the Financial Statements

The Trustees are responsible for preparing the report and the financial statements in accordance with applicable law and United Kingdom Generally Accepted Accounting Practice. Charity law in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Charity and of the incoming resources and application of resources of the Charity for that period.

In preparing those financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enables them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the governing document.

The Trustees 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. The Trustees are responsible for the maintenance and integrity of the Charity and financial information included in the Charity’s website.

7. Approval

The report of the Trustees was approved by the Trustees on 7 March 2022 and signed on its behalf by:

Rothna Begum Chairman

6

Ice and Fire Theatre Company

Report of the Independent Examiner to the Trustees of Ice and Fire Theatre Company

I report on the accounts of the Charity for the year ended 31 December 2021, which are set out on pages 8 to 15.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a ‘true and fair view’ and the report is limited to those matters set out in the statement below.

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 the 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 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

  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.

John Helm ACA 17 Heathville Road, London N19 3AL

7 March 2022

7

Ice and Fire Theatre Company

Statement of Financial Activities (incorporating the income and expenditure account) For the year ended 31 December 2021

Note
Income from:
2
Donations and legacies
Charitable activities
Other
Total Income
Expenditure on:
3
Raising funds
Charitable activities
Total Expenditure
Net income/(expenditure)
before tax
4
Tax payable
5

Net income/(expenditure)
after tax
Transfers between funds

Net movement in funds
Total funds brought forward

Total funds carried forward
 Unrestricted
Funds
2021
£

30,069
21,443
13,410		 Restricted
Funds
2021
£
16,500
-
-
16,500
1,278
65,561
66,839
(50,339)
-
(50,339)
11,628
(38,711)
62,754
24,043		 Unrestricted
Funds
2020
£
5,844
-
-




Restricted
Funds
2020
£
61,017
11,489
-
72,506
80
52,385
52,465
20,041
-
20,041
(9,431)
10,610
42,713
53,323		 Total
2020
£
66,861
11,489
-
Total
2021
£
46,569
21,443
13,410
64,922 5,844 78,350
81,422
323
42,782
43,105
21,817
-
21,817
(11,628)
10,189
17,633
27,822		 319
24,353		 399
76,738
1,601
108,343
24,672 77,137
109,944
(18,828)
-		 1,213
-
(28,522)
-
(18,828)
9,431		 1,213
-
(28,522)
-
(9,397)
36,461		 1,213
79,174
(28,522)
80,387
27,064 80,387
51,865

8

Ice and Fire Theatre Company

Balance Sheet As at 31 December 2021

Fixed Assets
Tangible Assets
6
Current Assets
Debtors
Cash At Bank And In Hand
Creditors - Amounts Falling
Due Within One Year
7
Net Current Assets
Net Assets
Represented By:
Restricted Funds
8
Unrestricted Income Funds
Total Funds		 Unrestricted
Funds
2021
£
-
13,410
17,280
30,690
(2,868)
27,822
27,822
-
27,822
27,822		 Restricted
Funds
2021
£
-
-
24,043
24,043

-
24,043
24,043
24,043
-
24,043		 Total
2020
£
101
-
84,032






)
Total
2021
£
0
13,410
41,323
84,032
(3,746
54,733
(2,868)
80,286
51,865
80,387
51,865
62,754
17,633
24,043
27,822
80,387
51,865

For the year ending 31 December 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The trustees acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts. The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

They were approved by the Trustees on 7 March 2022 and signed on their behalf by:

Rothna Begum Chairman

9

Ice and Fire Theatre Company

Notes to the Financial Statements For the year ended 31 December 2021

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

Basis of accounting

The financial statements have been prepared under the Charities Act 2011, the Companies act 2006 and in accordance with the Charities Statement of Recommended Practice (Charities SORP (FRS 102)) and Financial Reporting Standard 102 (FRS 102). The financial statements are drawn up on the historical cost basis of accounting.

The Charity meets the definition of a public benefit entity under FRS 102.

Going Concern

There are no material uncertainties about the charity’s ability to continue as a going concern and accordingly the accounts have been drawn up on a going concern basis.

Income recognition

Voluntary income and donations (including legacies) are accounted for once the Charity has entitlement to the income, it is probable the income will be received and the amount of income receivable can be reliably measured. Income from the recovery of tax on gift aided donations is accounted for in the period to which the relevant donation is received. Grant income is recognised on a receivable basis.

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 bank.

Expenditure recognition

Expenditure is accrued as soon as a liability is considered probable, and the amount of obligation can be measured reliably. Longer term liabilities are discounted to present value. The Charity is not registered for VAT and accordingly expenditure includes VAT where appropriate.

Expenditure included in Raising Funds includes amounts incurred in obtaining grants and other donations.

Charitable expenditure includes those costs in fulfilling the Charity’s principal objects, as outlined in the Report of the Trustees. Charitable expenditure includes governance costs and an apportionment of support costs. Governance costs comprise all costs involving the public accountability of the Charity and its compliance with regulation and good practice. These costs include costs related to the independent examination and legal fees.

Rentals under operating leases are charged as incurred over the term of the lease.

Tangible Fixed Assets

The cost of furniture, fittings and equipment, less any expected residual value, is depreciated at 25% per annum on a straight line basis.

Debtors

Debtors are included at the settlement amount due. Prepayments are valued at the amount prepaid.

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 opening of the deposit.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation arising from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are recognised at their settlement amount.

10

Ice and Fire Theatre Company

Notes to the Financial Statements For the year ended 31 December 2021

1. Accounting Policies (continued)

Fund accounting

The funds held by the charity are either:

2. Income

Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Donations & legacies
Donations
380
-
Grants
29,689
16,500
30,069
16,500
Charitable activities
Performance
16,814
-
Ticket sales
-
-
Project & facilitator fees
4,629
-
21,443
0
Other
Theatre tax relief
13,410
-
64,922
16,500		 Total
2020
£
1,892
64,969
Total
2021
£
380
46,189
66,861
8,383
-
3,106
46,569
16,814
-
4,629
11,489
-
21,443
13,410
78,350
81,422

Grants in 2021 were received as follows:

£
Arts Council England Project Grant 1,500
AurumCharitableTrust 10,000
LittleButterflyFoundation 5,000
JobRetentionScheme (a governmentfundedscheme) 29,689
46,189

3. Expenditure

3a. Raising Funds

Fundraising Direct
costs
£
Support
costs
(note 3c)
£
1,601
-



Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
323
1,278



Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
323
1,278



Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
323
1,278		 Total
2020
£
399
Total
2021
£
1,601

11

Ice and Fire Theatre Company

Notes to the Financial Statements For the year ended 31 December 2021

3. Expenditure (continued)

3b. Charitable Activities

Production
Outreach
Participation		 Direct
costs
£
Support
costs
(note 3c)
£
33,120
28,396
18,429
28,396
-
-
51,549
56,792

Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
19,095
42,422
23,687
23,139
-
-
42,782
65,561

Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
19,095
42,422
23,687
23,139
-
-
42,782
65,561

Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
19,095
42,422
23,687
23,139
-
-
42,782
65,561		 Total
2020
£
21,970
39,478
15,290
76,738
Total
2021
£
61,517
46,826
0
108,343

Support costs in 2021 have been allocated to activities on a % basis: 50% (2020: 25%) production, 50% (2020: 50%) outreach and 0% (2020: 25%) participation.

3c. Allocation of 2021 support costs to charitable and fundraising activities


Fundraising/income generation (see note 3a)
Charitable activities (see note 3b)		 Staff &
personnel
costs
£
-
54,677
54,677		 Office
costs
£
Premises &
equipment
£
Governance
£
-
-
-
701
101
1,313
701
101
101
Total
£
-
56,792
56,792

Basis of allocation of support costs is 100% to charitable activities

3d. Staff costs

The Charity was staffed during the year ended 31 December 2021 by both contracted and employed individuals. Included within expenditure are the following costs of employed individuals:

Wages and salaries
Social security costs
Employer Allowance
Pension contributions
Employee benefits
Of which: wages and salaries and employee benefits paid in respect
of key management personnel		 2021 2020
£
54,174
4,924
(3,710)
1,186
880
57,454
33,601
£
51,618
4,457
(3,508)

1,124
986
54,677
30,836

The number of employed individuals during the year was 3 (2020: 3). The number of contracted individuals during the year was nil (2020: 2). No employed or contracted individual received payments in excess of £60,000 during the year.

12

Ice and Fire Theatre Company

Notes to the Financial Statements For the year ended 31 December 2021

4. Net (expenditure)/income before tax

This is stated after charging:
Unrestricted
Funds
2021
£
Restricted
Funds
2021
£
Independent Examiner’s remuneration
1,300
-
Depreciation – owned assets
101
-		 Total
2020
£
1,300
101
Total
2021
£
1,300
101

5. Tax Payable

As a charity, Ice & Fire Theatre Company is exempt from tax on income and gains falling within the provisions of the Corporation Taxes Act 2010 or the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. No tax charges have arisen on the Charity.

6. Tangible Fixed Assets

Office
equipment
£
Cost
At 1 January 2021 6,623
Additions -
Disposals -
At 31 December 2021 6,623
Depreciation
At 1 January 2020 6,522
Charge for year 101
Disposals -
At 31 December 2021 6,623
Net Book Value
At 31 December 2021 0
At 31 December 2020 101

All of the fixed assets are used for charitable purposes.

7. Debtors

Other debtors – Theatre Tax Relief receivable

2021 2020
£
-
£
13,410

13

Ice and Fire Theatre Company

Notes to the Financial Statements For the year ended 31 December 2021

8. Creditors – Amounts Falling Due Within One Year

Other creditors including taxation and social security
Accruals		 2021 2020
£
2,446
1,300
3,746
£
1,568
1,300
2,868

9. Restricted Funds

9a Current Year
Core
Production
Outreach
Participation
9b Prior Year
Core
Production
Outreach
Participation		 At 1
January
2021
£
3,604
40,740
16,236
2,174
62,754		 At 1
January
2021
£
3,604
40,740
16,236
2,174
62,754		 Income
£
Expenditure
£
Transfers
£
15,000
(18,604)
-
1,500
(34,398)
11,628
-
(13,837)
-
-
-
-
16,500
(66,839)
11,628		 Income
£
Expenditure
£
Transfers
£
15,000
(18,604)
-
1,500
(34,398)
11,628
-
(13,837)
-
-
-
-
16,500
(66,839)
11,628		 Income
£
Expenditure
£
Transfers
£
15,000
(18,604)
-
1,500
(34,398)
11,628
-
(13,837)
-
-
-
-
16,500
(66,839)
11,628		 Income
£
Expenditure
£
Transfers
£
15,000
(18,604)
-
1,500
(34,398)
11,628
-
(13,837)
-
-
-
-
16,500
(66,839)
11,628		 At 31 At 31
December
2021
£
0
19,470
2,399
2,174
24,043
At 1
January
2020
£
0
21,439
19,024
2,250
42,713		 At 31
December
2020
£
3,604
40,740
16,236
2,174
62,754

Descriptions of restricted funds are as follows:

14

Ice and Fire Theatre Company

Notes to the Financial Statements For the year ended 31 December 2021

10. Related Party Transactions

No Trustee received any financial benefits through their association with the charity.

Trustees made aggregate unrestricted donations of £nil (2020: £nil) during the year.

11. Members’ Funds

The Charity is a company limited by guarantee without a share capital. Instead of a share capital, each member guarantees to pay not more than £10 in the event of the company's dissolution. The amount of the members' guarantee represents a contingent asset to the company which will crystallise only if the company goes into liquidation. As the company is a going concern, the members have no obligation to pay the sum guaranteed.

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