**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 June 2021 to 31st August 2022** **New London Performing Arts Centre Limited** ## **Contents of the Financial Statements for the Period 1st June 2021 to 31st August 2022** ||**Page**|| |---|---|---| |**Report of the Trustees**|1 to|3| |**Independent Examiner's Report**|4|| |**Statement of Financial Activities**|5|| |**Statement of Financial Position**|6|| |**Statement of Cash Flows**|7|| |**Notes to the Statement of Cash Flows**|8|| |**Notes to the Financial Statements**|9 to|15| ## **New London Performing Arts Centre Limited** ## **Report of the Trustees for the Period 1st June 2021 to 31st August 2022** The trustees present their report with the financial statements of the charity for the period ended 31st August 2022. 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 programmes, 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. Previously, every year students have been given the opportunity to compete for the Annual Charlotte Coleman Scholarship award. While we still have excellent performers who retain this scholarship, this year our annual scholarship has changed to become the Amy-Athwal Kirby Scholarship, in memory of one of our students, who sadly passed away during the pandemic. 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, Band workshops and much more. ## **Achievement and performance** Over the past year, class numbers have continued to rise, and new classes continue to be added into our schedule. For the first time since March 2019, NLPAC is returning to the Shaw Theatre for annual dance shows, in addition to a Stage School Cabaret and Ballet production - for which the students have been eagerly preparing and rehearsing throughout the Spring term. Furthermore, we will again be running a Musical Theatre production to be staged in Autumn 2023. NLPAC has also seen dance troupes perform in different external showcases, a factor that has helped bring more attention to our students' talent as well as further enrolments. 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 in addition to developing confidence and engaging in stimulating activities. ## **Financial review** ## **Going concern** Due to the ongoing cost-of-living crisis, following the financial struggles that the pandemic brought, the centre retains awareness of supporting itself economically. However, the Trustees have worked very hard in maintaining adequate cash reserves to continue to survive. The Trustees are confident that the centre will continue to survive, despite the struggles that continue to be faced in this period of economic hardship. -1- ## **New London Performing Arts Centre Limited** ## **Report of the Trustees for the Period 1st June 2021 to 31st August 2022** ## **Financial review** The charity's state of affairs is as set on page 6. The charity showed a net decrease in funds of £89,487. The funds of the charity are in surplus by £48,792. ## **Future plans** NLPAC continues to push forward with funding applications for disability access and building improvements. ## **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 governed 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 details Registered Company number** 05307944 (England and Wales) ## **Registered 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) Ms F Irons (Trustee) Ms J Spackman (Trustee) -2- ## **New London Performing Arts Centre Limited** ## **Report of the Trustees for the Period 1st June 2021 to 31st August 2022** ## **Reference and administrative details** ## **Independent Examiner** David Hatchard BA FCA Institute of Chartered Accountants in England and Wales Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD 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 16th February 2023 and signed on its behalf by: Ms E K V Byron - Trustee -3- ## **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')** I report to the charity trustees on my examination of the accounts of the Company for the period 1st June 2021 to 31st August 2022. ## **Responsibilities and basis of report** As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act. ## **Independent examiner's statement** Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a registered member of 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: 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. David Hatchard BA FCA Institute of Chartered Accountants in England and Wales Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD Date: ............................................. -4- ## **New London Performing Arts Centre Limited** ## **Statement of Financial Activities for the Period 1st June 2021 to 31st August 2022** |**Period**
**1/6/21**
**to**
**31/8/22**
**Unrestricted**
**fund**
**Notes**
**£**
**Income and endowments from**
**Charitable activities**
2
Activities undertaken directly
**694,639**
Other income
**26,691**
**Total**
**721,330**
**Expenditure on**
Raising funds
3
**2,045**
**Charitable activities**
4
Support costs
**527,895**
Activities undertaken directly
**280,877**
**Total**
**810,817**
**NET INCOME/(EXPENDITURE)**
**(89,487)**
**Reconciliation of funds**
Total funds brought forward
**138,279**
**Total funds carried forward**
**48,792**|**_Period_**
**_1/9/20_**
**_to_**
**_31/5/21_**
**_Total_**
**_funds_**
**_£_**
_319,561_
_99,654_| |---|---| ||_419,215_| ||_2_
_231,103_
_146,585_| ||_377,690_| ||_41,525_
_96,754_| ||_138,279_| The notes form part of these financial statements -5- ## **New London Performing Arts Centre Limited** ## **Statement of Financial Position 31st August 2022** |**2022**
**Unrestricted**
**fund**
**Notes**
**£**
**Fixed assets**
Tangible assets
11
**21,831**
**Current assets**
Debtors
12
**4,557**
Cash at bank
**70,799**
**75,356**
**Creditors**
Amounts falling due within one year
13
**(48,395)**
**Net current assets**
**26,961**
**Total assets less current liabilities**
**48,792**
**NET ASSETS**
**48,792**
**Funds**
14
Unrestricted funds
**48,792**
**Total funds**
**48,792**|**_2021_**
**_Total_**
**_funds_**
**_£_**
_22,766_
_5,854_
_128,851_
_134,705_
_(19,192)_
_115,513_
_138,279_
_138,279_
138,279
138,279| |---|---| The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31st August 2022. The members have not required the company to obtain an audit of its financial statements for the period ended 31st August 2022 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for - (a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and - (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 16th February 2023 and were signed on its behalf by: E K V Byron - Trustee The notes form part of these financial statements -6- ## **New London Performing Arts Centre Limited** ## **Statement of Cash Flows for the Period 1st June 2021 to 31st August 2022** |**Notes**
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Net cash used in investing activities
**Change in cash and cash equivalents**
**in the reporting period**
**Cash and cash equivalents at the**
**beginning of the reporting period**
**Cash and cash equivalents at the end**
**of the reporting period**|**Period**
**1/6/21**
**to**
**31/8/22**
**£**
**(51,706)**
**(51,706)**
**(6,346)**
**(6,346)**
**(58,052)**
**128,851**
**70,799**|**_Period_**
**_1/9/20_**
**_to_**
**_31/5/21_**
**_£_**
_54,277_
_54,277_
_(2,000)_
_(2,000)_
_52,277_
_76,574_
_128,851_| |---|---|---| The notes form part of these financial statements -7- ## **New London Performing Arts Centre Limited** ## **Notes to the Statement of Cash Flows for the Period 1st June 2021 to 31st August 2022** ## **1. Reconciliation of net (expenditure)/income to net cash flow from operating activities** |||**Period**|**_Period_**| |---|---|---|---| |||**1/6/21**|**_1/9/20_**| |||**to**|**_to_**| |||**31/8/22**|**_31/5/21_**| |||**£**|**_£_**| |**Net (expenditure)/income for the reporting period**|**(as per the**||| |**Statement of Financial Activities)**||**(89,487)**|_41,525_| |**Adjustments for:**|||| |Depreciation charges||**7,281**|_7,598_| |Decrease in debtors||**1,297**|_4,916_| |Increase in creditors||**29,203**|_238_| |**Net cash (used in)/provided by operations**||**(51,706)**|_54,277_| |**Analysis of changes in net funds**|||| ||**At 1/6/21**|**Cash flow**|**At 31/8/22**| ||**£**|**£**|**£**| |**Net cash**|||| |Cash at bank|**128,851**|**(58,052)**|**70,799**| ||**128,851**|**(58,052)**|**70,799**| |**Total**|**128,851**|**(58,052)**|**70,799**| ## 2. **Analysis of changes in net funds** The notes form part of these financial statements -8- **New London Performing Arts Centre Limited** ## **Notes to the Financial Statements for the Period 1st June 2021 to 31st August 2022** ## **1. Accounting policies** ## **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. Governance 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. -9- **New London Performing Arts Centre Limited** ## **Notes to the Financial Statements - continued for the Period 1st June 2021 to 31st August 2022** ## **1. Accounting policies - continued** ## **Fund accounting** Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. ## **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. Income from charitable activities** |**Activity**
Fees and registrations
Activities undertaken directly
Shared facilities
Activities undertaken directly
Costume sales
Activities undertaken directly
**3.**
**Raising funds**
**Other trading activities**
Shop costs - purchases|**Period**
**1/6/21**
**to**
**31/8/22**
**£**
**639,214**
**55,413**
**12**
**694,639**
**Period**
**1/6/21**
**to**
**31/8/22**
**£**
**2,045**|**_Period_**
**_1/9/20_**
**_to_**
**_31/5/21_**
**_£_**
_294,246_
_25,303_
_12_| |---|---|---| |||_319,561_| |||**_Period_**
**_1/9/20_**
**_to_**
**_31/5/21_**
**_£_**
_2_| -10- ## **New London Performing Arts Centre Limited** ## **Notes to the Financial Statements - continued for the Period 1st June 2021 to 31st August 2022** ## **4. Charitable activities costs** |Support costs
Activities undertaken directly
**5.**
**Support costs**
**Human**
**Finance**
**resources**
**£**
**£**
Support costs
**8,644**
**9,877**
**6.**
**Net income/(expenditure)**
Net income/(expenditure) is stated after charging/(crediting):
Depreciation - owned assets
**7.**
**Auditors' remuneration**
Audit-related assurance services|**Support**
**Direct**
**costs (see**
**Costs**
**note 5)**
**£**
**£**
**115,036**
**412,859**
**280,877**
**-**
**395,913**
**412,859**
**Governance**
**Other**
**costs**
**£**
**£**
**371,449**
**22,889**
**Period**
**1/6/21**
**to**
**31/8/22**
**£**
**7,281**
**Period**
**1/6/21**
**to**
**31/8/22**
**£**
**2,000**|**Totals**
**£**
**527,895**
**280,877**| |---|---|---| |||**808,772**| |||**Totals**
**£**
**412,859**| |||**_Period_**
**_1/9/20_**
**_to_**
**_31/5/21_**
**_£_**
_7,598_
**_Period_**
**_1/9/20_**
**_to_**
**_31/5/21_**
**_£_**
_2,000_| ## **8. Trustees' remuneration and benefits** There were no trustees' remuneration or other benefits for the period ended 31st August 2022 nor for the period ended 31st May 2021. ## **Trustees' expenses** There were no trustees' expenses paid for the period ended 31st August 2022 nor for the period ended 31st May 2021. -11- **New London Performing Arts Centre Limited** ## **Notes to the Financial Statements - continued for the Period 1st June 2021 to 31st August 2022** ## **9. Staff costs** |Wages and salaries
Social security costs
Other pension costs
The average monthly number of employees during the period was as follows:
Staff
No employees received emoluments in excess of £60,000.
**10.**
**Comparatives for the statement of financial activities**
**Income and endowments from**
**Charitable activities**
Activities undertaken directly
Other income
**Total**
**Expenditure on**
Raising funds
**Charitable activities**
Support costs
Activities undertaken directly
**Total**
**NET INCOME**
**Reconciliation of funds**
Total funds brought forward
**Total funds carried forward**|**Period**
**_Period_**
**1/6/21**
**_1/9/20_**
**to**
**_to_**
**31/8/22**
**_31/5/21_**
**£**
**_£_**
**118,848**
_97,428_
**15,018**
_6,306_
**3,960**
_2,372_
**137,826**
_106,106_

**Period**
**_Period_**
**1/6/21**
**_1/9/20_**
**to**
**_to_**
**31/8/22**
**_31/5/21_**
**48**
_38_
**Unrestricted**
**fund**
**£**
319,561
99,654
419,215
2
231,103
146,585
377,690
41,525
96,754
138,279| |---|---| ||| -12- ## **New London Performing Arts Centre Limited** ## **Notes to the Financial Statements - continued for the Period 1st June 2021 to 31st August 2022** ## **11. Tangible fixed assets** |**Cost**
At 1st June 2021
Additions
At 31st August 2022
**Depreciation**
At 1st June 2021
Charge for year
At 31st August 2022
**Net book value**
At 31st August 2022
At 31st May 2021
**12.**
**Debtors: amounts falling due within one year**
Other debtors
Prepayments and accrued income
**13.**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors
Accruals and deferred income
**14.**
**Movement in funds**
**Unrestricted funds**
General fund
**TOTAL FUNDS**|**At 1/6/21**
**£**
**138,279**
**138,279**|**2022**
**£**
**500**
**4,057**
**4,557**
**2022**
**£**
**4,611**
**34,984**
**8,800**
**48,395**
**Net**
**movement**
**in funds**
**£**
**(89,487)**
**(89,487)**|**Fixtures**
**and**
**fittings**
**£**
**102,415**
**6,346**
**108,761**
**79,649**
**7,281**
**86,930**
**21,831**
_22,766_
**_2021_**
**_£_**
_4,750_
_1,104_
_5,854_
**_2021_**
**_£_**
_3,693_
_7,486_
_8,013_
_19,192_
**At**
**31/8/22**
**£**
**48,792**
**48,792**|**Fixtures**
**and**
**fittings**
**£**
**102,415**
**6,346**
**108,761**
**79,649**
**7,281**
**86,930**
**21,831**
_22,766_
**_2021_**
**_£_**
_4,750_
_1,104_
_5,854_
**_2021_**
**_£_**
_3,693_
_7,486_
_8,013_
_19,192_
**At**
**31/8/22**
**£**
**48,792**
**48,792**| |---|---|---|---|---| |||||| |||||| |||||| |||||| |||||| |||||| -13- ## **New London Performing Arts Centre Limited** ## **Notes to the Financial Statements - continued for the Period 1st June 2021 to 31st August 2022** ## **14. Movement in funds - continued** Net movement in funds, included in the above are as follows: |**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
**721,330**
**TOTAL FUNDS**
**721,330**
**Comparatives for movement in funds**
**At 1/9/20**
**£**
**Unrestricted funds**
General fund
96,754
**TOTAL FUNDS**
96,754
Comparative net movement in funds, included in the above are as follows:
**Incoming**
**resources**
**£**
**Unrestricted funds**
General fund
419,215
**TOTAL FUNDS**
419,215|**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
**(810,817)**
**(89,487)**
**(810,817)**
**(89,487)**
**Net**
**movement**
**At**
**in funds**
**31/5/21**
**£**
**£**
41,525
138,279
41,525
138,279
**Resources**
**Movement**
**expended**
**in funds**
**£**
**£**
(377,690)
41,525
(377,690)
41,525| |---|---| ## **15. Employee benefit obligations** The amount recognised in income or expenditure as an expense in relation to defined contribution plans was £3,960 (2021: £2,372). -14- ## **New London Performing Arts Centre Limited** ## **Notes to the Financial Statements - continued for the Period 1st June 2021 to 31st August 2022** ## **16. Related party disclosures** There were no related party transactions for the period ended 31st August 2022. ## **17. Limited by guarantee** New London Performing Arts Centre Limited is a company limited by guarantee and accordingly does not have a share capital. -15-