REGISTERED COMPANY NUMBER: 05307944 (England and Wales)
REGISTERED CHARITY NUMBER: 1118592
New London Performing Arts Centre Limited
Report of the Trustees and
Unaudited Financial Statements for the Period 1st September 2020 to 31st May 2021
New London Performing Arts Centre Limited
## Contents of the Financial Statements for the Perlod 1st September 2020 to 31st May 2021
||Page|
|---|---|
|Report ofthe Trustees|1|
|independent Examiner's Report|4|
|Statement of Financial Activities|5|
|Statement of Financial Position|6|
|Statement ofCash Flows|7|
|Notes to the Statement of Cash Flows|8|
|NotestotheFinancialStatements|9|
New London Performing Arts Centre Limited
## Report of the Trustees ~ for the Period 1st September 2020 to 31st May 2021
The trustees present their report with the financial statements of the charity for the year ended 31st August 2020. 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).
## Objectives and activities
Objectives and aims NLPAC encourages the next generation to perform. It serves to inspire, enrich and enable the local community, offering opportunities regardless of background. It is committed to providing quality, affordable classes and workshops in performing arts for young people. NLPAC's objectives are to provide or assist in the provision of quality, affordable performing arts activities for children and young people across the borough of Haringey and beyond in music, dance and drama. To advance the education of children and young people in the performing arts by presenting, promoting, sponsoring, supporting and assisting in the development of and awareness of the performing arts within the centre and in the community through the use of outreach orogrammes, publications, theatre trips, performances and other media promotions. Generous talent-based and ad hoc scholarships are offered to those families who struggle to pay fees. Many students benefit from being given this opportunity and it has enabled individuals to flourish in subjects that they thought they might never be able to afford. This year saw even more students being given scholarships, which has enabled them to develop confidence and technical ability. Every year students are given the opportunity to compete for the Annual Charlotte Coleman Scholarship award. The recipient receives a year of free tuition in as many group classes as they wish as well as a years’ free private tuition in music or singing at NLPAC. During the school holidays NLPAC runs a wide variety of quality, constructive, affordable performing arts workshops for children aged 4-19. Young people can take part in a full day of activities ranging from Dance, Drama, Musical Theatre, Singing, Devising Drama, Play writing and much more.
## Achievement and performance
Over the past year, class numbers have been rising as students and users of the building begin to return to regular activities.
For the first time since March 2019, NLPAC is planning a Musical Theatre production to be staged in July 22. Students have been rehearsing and preparing for this exciting event.
NLPAC students have continued to achieve excellent results in LAMDA acting and Musical Theatre exams, ABRSM music exams and ISTD Ballet & Tap and teacher training exams with over 300 students achieving OFQUAL regulated awards.
NLPAC holiday courses continue to be successful, encouraging children from all over London to express themselves physically, emotionally and mentally, The courses have given children and young people an outlet to socialise after such strange times, and resume regular, fun activities.
NLPAC scholarship students continue to flourish and another scholarship showcase is in the planning stages.
## Financial review
## Golng concern
Due to the ongoing Covid-19 pandemic, the centre is facing challenging times. The Trustees have worked very hard in maintaining adequate cash reserves to survive. The Trustees are confident that the centre will continue as a going concern once conditions return to normal.
The charity's state of affairs is as set on page 6. The charity showed a net increase in funds of £41,525. The funds of the charity are in surplus by £138,279.
## Future plans
NLPAC continues to push forward with funding applications for disability access and building improvements.
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## New London Performing Arts Centre Limited
## Report of the Trustees for the Period 1st September 2020 to 31st May 2021
## Structure, governance and management Governing document
The organisation is a charitable company limited by guarantee, incorporated on 8th December 2004 and registered as a charity from 28th March 2007. The company was established under a Memorandum of Association which defined the objects and powers of the charitable company and is govemed under its Articles of Association.
## Recruitment and appointment of new trustees
The Trustees are known as members of the Management Committee. The Trustees are not subject to retirement by rotation. The Trustees are formally elected to the Board of Trustees at a full meeting of the Trustees.
## Organisational structure
The Trustees are responsible for the strategic direction and policy of the charity. At present there are five members. A scheme of delegation is in place and day to day responsibility for the provision of services rests with the Operations Manager. The Operations Manager is responsible for ensuring that the charity delivers the services specified and has responsibility for the day to day operational management.
## Induction and training of new trustees
Current Trustees are already familiar with the practical work of the charity. Prior to the appointment as a new Trustee, the candidate is met by individual Trustees and officers of the charity to ensure that he/she is fully aware of the requirements and statutory duties of a Trustee, and to ensure that the person is suitable to hold such an appointment.
## Risk management
The Trustees have discussed the major risks to which the charity is exposed and a formal risk register is being established; this will be updated at least annually. Systems and procedures have been established to mitigate the risks the charity faces. A strategic plan is being developed which will allow for the diversification of funding and activities to mitigate such risks, should they occur. Internal control risks continue to be minimised by the implementation of procedures for overseeing and authorising major transactions and projects.
## Reference and administrative detalls
Registered Company number 05307944 (England and Wales)
Reglstered Charity number 1118592
Registered office 76 St James Lane Muswell Hill London N10 3DF
Trustees Ms E K V Byron (Director and trustee) Ms A England (Trustee) MsF Irons (Trustee) Ms J Spackman (Trustee) Independent Examiner David Hatchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
2.
## New London Performing Arts Centre Limited
## Report of the Trustees for the Period 1st September 2020 to 31st May 2021
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of
trustees on 30th June 2022 and signed on its behalf by:
Ms E KV Byron~o oS
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## Independent Examiner's Report to the Trustees of New London Performing Arts Centre Limited
Independent examiner's report to the trustees of New London Performing Arts Centre Limited (‘the Company’) | report to the chartty trustees on my examination of the accounts of the Company for the period 1st September 2020 to 31st May 2021.
(‘the
## 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, | 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 | have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner's statement on Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. | can confirm that | am qualified to undertake the examination because | am a registered member of _ which is one of the listed bodies.
| have completed my examination. | 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. tha 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)).
| 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.
## Dard Hatthak
David Hatchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
Date: ... 30°" Tune... ZOBR...
4.
## New London Performing Arts Centre Limited
## Statement of Financial Activities for the Period 1st September 2020 to 31st May 2021
|||Perlod||
|---|---|---|---|
|||1/9/20||
|||to|Year Ended|
|||31/5/21|31/8/20|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|Income and endowments from||||
|Charitable activities|3|||
|Activities undertaken directly||319,561|472,888|
|Otherincome||99,654|56,495|
|Total||419,215|529 383|
|Expenditure on||||
|Raising funds|4|2|3,052|
|Charitable activities|5|||
|Support costs||231,103|282,859|
|Activities undertaken directly||146,585|210,419|
|Total||377,690|496,330|
|NET INCOME||41,525|33,053|
|Reconciliation offunds||||
|Total funds broughtforward||96,754|63,701|
|Totalfundscarriedforward||138,279|96,754|
The notes form part of these financial statements
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New London Performing Arts Centre Limited
||Statement of Financial Position|||
|---|---|---|---|
||31stMay 2021|||
|||2021|2020|
|||Unrestricted|Total|
|||fund|funds|
||Notes|£|£|
|Fixed assets||||
|Tangible assets|12|22,766|28,364|
|Current assets||||
|Debtors
Cash at bank|13|§,854
128,851|10,770
76,574|
|||134,705|87,344|
|Creditors||||
|Amounts falling duewithin one year|14|(19,192)|(18,954)|
|Net current assets||116,613|68,390|
|Total assets less current liabilities||138,279|96,754|
|NETASSETS||138,279|96,754|
|Funds|15|||
|Unrestricted funds||138,279|96,754|
|Totalfunds||138,279|96,754|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st May 2021.
The members have not required the company to obtain an audit of its financial statements for the period ended 31st May 2021 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
- (a) ofensuringthe Companiesthat the Actcharitable2006 andcompany keeps accounting records, that comply with Sections 386 and 387 (b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on 30th June 2022 and were signed on its behalf by:
Ms E K V Byron - Trustee
The notes form part of these financial statements
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## New London Performing Arts ~ Centre Limited
## Statement of Cash Flows for the Period 1st September 2020 to 31st May 2021
**----- Start of picture text -----**
|||||||||
|---|---|---|---|---|---|---|---|
|Period|
|1/9/20|
|to|Year Ended|
|£|£|
|Notes|31/5/21|3178/20|
|Cash|flows|from|operating|activities|
|Cash|generated|from|operations|1|54,277|27,448|
|Net|cash|provided|by|operating|activities|§4,277|27,448|
|Cash|flows|from|investing|activities|
|Purchase|of tangible|fixed|assets|(2,000)|(8,275)|
|Net|cash|used|in|investing|activities|(2,000)|(8,275)|
|Change|In|cash|and|cash|equivalents|
|in|the|reporting|period|§2,277|19,173|
|Cash|and|cash|equivalents|at the|
|beginning|of the|reporting|perlod|76,574|57,401|
|Cash|and|cash|equivalents|at the|end|
|of the|reporting|period|128,851|76,574|
**----- End of picture text -----**
The notes form part of these financial statements
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## New London Performing Arts Centre Limited
## Notes to the Statement of Cash Fiows for the Period 1st September 2020 to 31st May 2021
## 1. Reconciliation of net income to net cash flow from operating activities
|||Perlod||
|---|---|---|---|
|||1/9/20||
|||to|YearEnded|
|||31/5/21|31/8/20|
|||£|£|
|Net Income forthe reporting period (as per the Statement of||||
|Financial Activities)||41,525|33,053|
|Adjustments for:||||
|Depreciation charges||7,698|9,454|
|Decrease/(increase) in debtors||4,916|(2,237}|
|Increase/(decrease) in creditors||238|(12,822)|
|Net cash provided by operations||§4,277|27,448|
|Analysis ofchanges In netfunds||||
|At|1/9/20|Cash flow|At 31/5/21|
||£|£|£|
|Net cash||||
|Cash at bank|76,574|52,277|128,861|
||76,574|52,277|128,851|
|Total|76,574|62,277|128,851|
## 2. Analysis of changes In net funds
The notes form part of these financial statements
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New London Performing Arts Centre Limited
1. Accounting policies
## Notes to the Financial Statements
for the Period 1st September 2020 to 31st May 2021
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, 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 January 2019)', Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Income
All incoming resources are included in the statement of financial activities when entitlement has passed to the charity; it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: - income from donations or grants is recognised when there is evidence of entitlement to the gift, receipt is probable and its amount can be measured reliably.
- legacy income is recognised when receipt is probable and entitlement is established.
- income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost to the donor or the estimated resale value.Donated facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers.
- income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestricted funds unless there is a contractual requirement for it to be spent on a particular purpose and returned if unspent, in which case it may be regarded as restricted.
## Expenditure
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates.
Costs of generating funds comprise the costs associated with attracting voluntary income from fundraising events and the shop purchases.
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. Indirect costs are allocated on a usage basis.
Govemance costs compromise of those costs associated with meeting the constitutional and statutory requirements of the charity.
All costs are allocated between the expenditure categories of the SOFA on a basis designed to reflect the use of the resource. Costs relating to a particular activity are allocated directly.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
## Taxation
The charity is exempt from corporation tax on its charitable activities.
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New London Performing Arts Centre Limited
## Notes to the Financial Statements - continued
## for the Period 1st September 2020 to 31st May 2021
## 1. Accounting policies - continued
## Fund accounting
Unrestricted funds are available for the use at the discretion of the Trustees in furtherance of the general objectives of the charity.
Pension costs and other post-retirement benefits
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## 2. Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
## 3. Income from charitable activities
|3.|Income fromfrom charitable activities|||
|---|---|---|---|
|||Period||
|||1/9/20||
|||to|YearEnded|
|||31/8/21|31/8/20|
|||Activities||
|||undertaken
directly|Total
activities|
|||£|£|
||Feesand registrations|294,246|428,598|
||Shared facilities|25,303|39,091|
||Costume sales|12|3,125|
||Tuck sales|-|2,074|
|||319,561|472,888|
|4.|Raising funds|||
||Othertrading activities|||
|||Period||
|||1/9/20||
|||to|YearEnded|
|||31/5/21|31/8/20|
|||£|£|
||Shopcosts-purchases|2|3,052|
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New London Performing Arts Centre Limited
## Notes to the Financial Statements - continued for the Period 1st September 2020 to 31st May 2021
## 5. Charitable activities costs
|5.|Charitable activities costs||||||
|---|---|---|---|---|---|---|
||||||Support||
|||||Direct|costs (see||
|||||Costs|note 6)|Totals|
|||||£|£|£|
||Support costs|||52,900|178,203|231,103|
||Activities undertaken directly|||146,585|-|146,585|
|||||199,485|178,203|377,688|
|6.|Supportcosts||||||
||||Human||Governance||
|||Finance|resources|Other|costs|Totals|
|||£|£|£|£|£|
||Support costs|3,968|4,400|161,572|8,263|178,203|
|7.|Net income/(expenditure)||||||
||Net income/(expenditure) is stated after charging/(crediting):||||||
||||||Period||
||||||1/9/20||
||||||to|YearEnded|
||||||31/5/21|31/8/20|
||||||£|£|
||Depreciation - owned assets||||7,698|9,454|
|8.|Auditors’ remuneration||||||
||||||Period||
||||||1/9/20||
||||||to|YearEnded|
||||||31/5/21|31/8/20|
||||||£|£|
||Audit-relatedassuranceservices||||2,000|2,000|
## 9. Trustees’ remuneration and benefits
There were no trustees' remuneration or other benefits for the period ended 31st May 2021 nor for the year ended 31st August 2020. -
## Trustees’ expenses
There were no trustees' expenses paid for the period ended 31st May 2021 nor for the year ended 31st August 2020.
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New London Performing Arts Centre Limited
Notes to the Financial Statements - continued for the Period 1st September 2020 to 31st May 2021
## 10. Staff costs
|10.|Staff costscosts|||
|---|---|---|---|
|||Perlod||
|||1/9/20||
|||to|YearEnded|
|||31/5/21|31/8/20|
|||£|£|
||Wages and salaries|97,428|113,705|
||Social security costs|6,306|7,612|
||Otherpension costs|2,372|2,944|
|||106,106|124,261|
||Theaverage monthly number ofemployees during the period was as follows:|||
|||Period||
|||1/9/20||
|||to|YearEnded|
|||31/5/21|31/8/20|
||Staff|38|51|
||No employees received emoluments in excess of£60,000.|||
|11.|Comparatives forthe statement offinancial activities|||
||||Unrestricted|
||||fund|
||||£|
||Income and endowments from|||
||Charitable activities|||
||Activities undertaken directly||472,888|
||Otherincome||56,495|
||Total||529,383|
||Expenditure on|||
||Raising funds||3,052|
||Charitable activities|||
||Support costs||282,859|
||Activities undertaken directly||210,419|
||Total||496 330|
||NETINCOME||33,053|
||Reconciliation offunds|||
||Totalfunds broughtforward||63,701|
||Totalfundscarriedforward||96,754|
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New London Performing Arts Centre Limited
## Notes to the Financial Statements - continued for the Period 1st September 2020 to 31st May 2021
## 12. Tangible fixed assets
**----- Start of picture text -----**
||||||||
|---|---|---|---|---|---|---|
|Fixtures|
|and|
|fittings|
|£|
|Cost|
|At|1st September 2020|100,415|
|Additions|2,000|
|At|31st|May|2021|102,415|
|Depreciation|
|At|1st September 2020|72,051|
|Charge|for year|7,898|
|At|31st|May|2021|79,649|
|Net|book|value|
|At|31st|May|2021|22,766|
|At|31st August 2020|28,364|
|13.|Debtors:|amounts|falling|due within|one|year|
|2021|2020|
|£|£|
|Other debtors|4,750|2,110|
|Prepayments and|accrued|income|1,104|8,660|
|5,854|10,770|
|14.|Creditors:|amounts|failing|due within|one year|
|2021|2020|
|£|£|
|Trade|creditors|3,693|5,843|
|Other|creditors|7,486|6,898|
|Accruals|and|deferred|income|8,013|6,213|
|19,192|18,954|
|45.|Movement|In|funds|
|Net|
|movement|At|
|At|1/9/20|in|funds|31/5/21|
|£|£|£|
|Unrestricted|funds|
|General|fund|96,754|41,525|138,279|
|TOTAL FUNDS|96,754|41,525|138,279|
**----- End of picture text -----**
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New London Performing Arts Centre Limited
## Notes to the Financial Statements - continued for the Period 1st September 2020 to 31st May 2021
## 15. Movement in funds - continued
**----- Start of picture text -----**
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|Net|movement|in|funds,|included|in|the|above|are|as|follows:|
|incoming|Resources|Movement|
|resources|expended|In|funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|419,215|(377,690)|41,525|
|TOTAL FUNDS|419,215|(377,690)|41,525|
|Comparatives|for|movement|in|funds|
|Net|
|movement|At|
|At|1/9/19|in|funds|31/8/20|
|£|£|£|
|Unrestricted|funds|
|General|fund|63,701|33,053|96,754|
|TOTAL FUNDS|63,701|33,053|96,754|
|Comparative|net movement|in|funds,|included|in|the|above|are|as|follows:|
|Incoming|Resources|Movement|
|resources|expended|in funds|
|£|£|£|
|Unrestricted|funds|
|General|fund|§29,383|(496,330)|33,053|
|TOTAL FUNDS|529,383|(496,330)|33,053|
**----- End of picture text -----**
## 16. Employee benefit obligations
The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £2,372 (2020: £2,944).
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4 ta
New London Performing Arts Centre Limited
Notes to the Financial Statements - continued for the Period 1st September 2020 to 31st May 2021
## 17. Related party disclosures
There were no related party transactions for the period ended 31st May 2021.
## 18. Limited by guarantee
New London Performing Arts Centre Limited is a company limited by guarantee and accordingly does not have a share capital.
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