REGISTERED COMPANY NUMBER: 053079441England and Wales) REGISTERED CHARITY NUMBER: 1118592 New London Performing Arts Centre Llmited Report of tho Trustees and Unaudlted Financlal Statements for the Year Ended 31st August 2024
New London Performing Arts Centre Limitsd Contents of the Financial Statements for the Year Ended 31st August 2024 Page Report of the Trustees Independent Examiner's Report Statement of Financlal Actlvltl89 Statement of Flnanclal Posltlon Statement of Cash Flows Notes to the Statement of Cash Flows Notes to the Flnancial Ststements 10 to 16
New London Performlng Arts Centre Limited Report of the Trustees for the Year Ended 31st August 2024 The trustees present their report with the financial statements of the charity for the period ended 31 st August 2024. 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 activltles Objectives and aims NLPAC encourages the next generation to perfom. It seTves to inspire, enrich and enable the local community, offering opportunilies 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 perfomiing 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 perfomiing arts within the centre and in the community through the use of outreach programmes, publications, theatre trips. perfomances and other media promotions. Generous talent-based and ad hoc scholarships are offered to Ihose 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 perfomiers who relain this scholarship, this year our annual scholarship has changed to become the Amy-Alhwal 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 schwl 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.
New London Performing Arts Centre Llmlted Report of the Trustees for the Year Ended 31st August 2024 Achlevement and performance This year has been a period of gr0h, creativty, and renewed commitment to the community NLPAC serves. NLPAC conlinues to excel in its mission of promoting inclusivity. diversity. and excellence in performing arts education while fostering a lifelong love of the arts in children and young people. A key highlight this year has been the reinstalement of NLPAC'S accreditation with JCQ, AQA, and Pearson, enabling us once again to offer GCSE courses in music. dance. and drama. As an accredited private exam centre. NLPAC now provides a vital seNice by offenng local children and young people a supportive environment to srt their academic exams. Throughout the year, the Cenlre has offered a comprehensive range of children's classes in dance, drama, musical theatre, and music. Accessibility and inclusion remain at the core of our values. NLPAC continues to provide scholarships and bursaries to ensure that financial hardship does not prevent participation. We are committed to maintaining a welcoming space for children of all abilities, where everyone has the opportunity to engage in the performing arts and flourish. Our students had the chance to showcase their progress and talent through a variety of performance opportunities throughout the year. including in-house showcases and extemal productions. These events not only celebrated student achievements but also inspired continued artistic growth. Students recently took to the stage at The Shaw Theatre in NLPAC'S annual shows, performing in Dance, Ballel and Musical Theatre, We are pleased to report continued success in external exams across all disciplines. Students achieved outstanding results in Ballet, Tap, LAMDA Acting, LAMDA MT. and music exams, as well as the ISTD Level 4 Diploma in Dance Education, a teslament to their hard work and the dedication of our teaching staff. These results reflect the high standard of tuition and the supportive learning environment at NLPAC. NLPAC continues to run full and successful holiday workshops throughout the year. offering fun, creative, and enriching programmes during school holidays. These workshops were very well attended and provided an opportunity for students to immerse themselves in intensive, themed perfomance experiences while building friendships and confidence. In addition, NLPAC'S social media presence has continued to grow, helping lo enhance community engagement and awareness of our work. Through regular updates, evenl promotion, and student highlights, our platforms have become a valuable tool for outreach, allowing us to connect with a wider audience and share the impact of our programmes more broadly. Looking ahead, we are excrted to expand our academic offering to compliment the subjects already offered, with plans to deliver full GCSE courses in Dance, Drama, and Music from September 2025. This initiative reflects our continued dedication to providing accessible, high-quality arts education, and ensuring NLPAC remains a leading inslitulion for performing arts in North London. We look forward to the year ahead with confidence and enlhusiasm as we continue to inspire, educate, and uplift through the perfonning arts. 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 lo survive. The Trustees are confident that the centre will continue lo survive, despite the struggles that continue to be faced in this period of economic hardship. The charty's slate of affairs is as set on page 6. The charity showed a net decrease in funds of £1,963. The fund5 of the charity are in surplus by £443. Future plans NLPAC continues to push forward with funding applications for disability access and building improvements.
New London Performing Arts Centre Limited Report of the Trustees for the Year Ended 31st August 2024 Structure, govemance and management Governing document The organisation is a charitable company limited by guarantee, incorporated on 8th Dember 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 appolntment 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 fomally 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 ensunng that the charity delive the seryices specified and has responsibility for the day lo day operational management. Inductlon and tralnlng of new trust88S Current Trustees are already familiar with the practical work of the charity. Prior lo the appointment as a new Trustee, the candidate 1$ met by individual Trustees and officers of the charity to ensure thal helshe is fully aware of the requirements and statutory duties of a Trustee, and lo ensure that the person is surtable to hold such an appointment. Risk management The Trustees have discussed the major risks to which the charity is exposed and a formal nsk register is being established,. this will be updated at least annually. Systems and procedures have been established lo mitigate the risks the charily faces, A slrategic 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 admlnlstratlve detalls Registered Company number 05307944 {England and Wales) Registered Charlty number 1118592 Reglstered offlce 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 {Trusteel Ms J Spackman (Twstee) Independent Examlner David Halchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD
New London Performing Arts Centre Limited Report of the Trustees for the Year Ended 31st August 2024 This report has been prepared in accordance with the special provisions of Part 15 of the Companies Acl 2006 relating to small companies. Approved by order of the board of trustees on 23rd June 2025 and signed on its behalf by.. MsEKVByr
Independent Examinerfs Report to the Trustees of New London Performing Arts C8ntre Limited Independent examiner's report to the trustees of New London Performing Arts Centre Limlted {'the Company'l I report lo the charty trustees on my examination of the accounts of the Company for the year ended 31st August 2024. Responsibilities and basis of report As the charity's trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 {'the 20C6 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 chanly's accounts as carried out under Section 145 of the Charities Act 2011 {'Ihe 2011 Act'l. In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145{5) Ibl of the 2011 Act. Independent examlnerfs statement Since your charity's gross income exceeded £250.000 your examiner must be a member of a listed body. I can confimi that l am qualified to undertake the examination because l am a member of Ihe Institute of Chartered Accountants in England and Wales, which is one ofthe listed bodies. I have completed my examination. I confinn that no mattets have come to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act., or the accounts do not accord with those records., or the account5 do not comply with the accounting qUireMentS 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 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 1021). I have no concerns and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order to enable a proper understanding of the accounts lo be reached, David Hatchard BA FCA Nigel Wilson & Co 4th Floor 100 Fenchurch Street London EC3M 5JD 23rd June 2025
New London Performing Arts Centre Llmited Statement of Financial Activities for the Year Ended 31st August 2024 2024 Unrestricted funds 2023 Total funds Notes Income and endowments from Charltable activities Activities undertaken directly 591,738 503, 401 Expenditure on Raising funds 22, 149 CharStabl8 actlvltles Activities undertaken directly 593,701 535,891 Totsl 593,701 558,040 NET INCOMEIIEXPENDITUREI 11,9631 {54, 639) Reconciliation of funds Total funds brought fOard 2,406 57,045 Total funds carrled forward 443 2,406 The notes fom part of these financial statemenls
New London Performing Arts Centre Limited ststement of Financial Position 31st August 2024 2024 Unrestricted funds 2023 Total funds Notes Fixed assets Tangible assets 13,273 75,549 Current assets Debtors Cash at bank 12 6,032 22,318 8,737 43, 792 28,3SO 52,523 Credltors Amounts falling due within one year 13 141,1801 (65,666) Net currant assets (12,830) (13, 143) Total assets1g88 current liabllltles 2,406 NET ASSETSI(LIA81LITIES) 2,406 Funds Unrestricted funds 14 2,406 Total funds 2,406 The charitable company 15 entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st August 2024. The members have nol required the company to obtain an audrt of its financial stalemenls for the year ended 31st Augusl 2024 in accordance with Section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for la} ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and Ib) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as al 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 Cornpanies 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 23rd June 2025 and were signed on ils behalf by.. Ms E K V Byron - Trus The notes form part of these financial statements
New London Performing Arts Centre Limited Statement of Cash Flows for the Year Ended 31st August 2024 2024 2023 Notes Cash flov from operating activiti85 Cash generated from operations {19,324) (27,007) Net cash used in operating aclivilies 119,3241 (27,007) Cash flows from Investing activltles Purchase of tangible fixed assets 12,1501 Net cash (used in}Iprovided by investing activities 12,1501 Change in cash and cash equlvalents in the reportSng perlod Cash and cash equivalents at the beglnnlng of the reporting period (21,474) (27,007) 43,792 70, 799 Cash and cash equlvalents at the end of the reportlng perlod 22,318 43, 792 The notes form part of these financial statements
New London Perfomilng Arts Centre Limited Notes to the Statement of Cash Flows for the Year Ended 31st August 2024 Reconciliatlon of net expenditure to net cash flow from operatlng activities 2024 2023 Net expenditure for the reporting period las per the Statement of Financial Activities) Adjustments for: Depreciation charges Decreasellincreasel in debtors {Decreasellincrease in creditors 11,963) (54, 639) 4,426 2,699 124,4861 5, 782 (4, 174) 26, 624 Net cash used in operations 119,3241 (27,007) Analysis of changes in net funds At 119123 Cash flow At 3118124 Net cash Cash at bank 43,792 (21,4741 22,318 43,792 (21,4741 22,318 Totsl 43,792 (21,474} 22,318 The notes fom part of these financial statements
New London PerformSng Arts Centre Limited Not85 to the Flnancial Ststem8nts for the Year Ended 31st August 2024 Accounting pollcles Basls of preparing the financial statements The financial statements of the charilable company. which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP {FRS 1021 'Accounting and Reporting by Charrties.. Statement of Recommended Practice applicable lo charilies preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 1021 (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 hislorical cost convention. Income All incoming resources are included in the statement of financial activities when entitlement has passed to the charity,. il 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 categones 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 al the fair value of the goods unless Ihis 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 seNices are recognised in the accounts when received if the value can be reliably rneasud. 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 il to be spent on a particular purpose and returned rf 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 fursds comprise the costs associaled with attracting voluntary income from fundraising events and the shop purchases. Charrtable 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 Ihose costs associated with meeting the constrtutional and statutory requirements of the charity All costs are allocated beeen 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. Tanglble fixed assets Depreciation is provided al 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 exempl from corporation tax on rts charitable activities. -10-
New London Perfomilng Arts Centre Llmited Notes to the Flnancial Statements- continued for the Year Ended 31st August 2024 Accounting policies - continued Fund accounting Unrestricted funds can be used in accordance with the charitable objeclives at the discretion of the trustees. Restncted funds can only be used for particular restricted purposes within the objects of the charity. Restnctions arise when specified by the donor or when funds are raised for particular restricled purposes. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Penslon costs and other post-retirement beneflts The charilable company operates a defined contribution pension scheme. Conlribulions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period lo which they relate. Income from charitable activltles 2024 2023 Actlvlty Activities undertaken directly Activities undertaken directly Activities undertaken directly Activities undertaken directly Fees and registrations Shared facilities Costume sales Stage productions 514,803 69,833 33S 6,767 447,527 55,874 591,738 503,407 Ralsing funds Other trading actlvities 2024 2023 Shop costs - purchases Support costs 1,258 20,891 22, 149 Charitable activities costs Support costs (see note 5) Direct Costs Totals Activities undertaken directly 394,097 199,604 593,701 -11-
New London Performing Arts Centre Limlted Notes to the Financial Statements- continued for the Year Ended 31st August 2024 Support costs Human resources Governance costs Finance Other Totals Activrties undertaken directly 7,809 9,006 171,929 10,860 199,604 Net Incomel{expenditure> Net incomel(expenditure) is stated after chargingl(crediting)'. 2024 2023 Deprecialion - owned assets 4,426 5, 182 Auditors. remuneratlon 2024 2023 Audil-related assurance se¢vices 2,400 2,400 Trustaos, ramuneratlon and benefits There were no Iruslees, remuneration or other benefits for the year ended 31 st August 2024 nor for the year ended 31st August 2023. Trustees. expenses There were no trustees, expenses paid for the year ended 31st August 2024 nor for the year ended 31st August 2023. Staff costs 2024 2023 Wages and salaries Social security costs Other pension costs 105.353 7,730 3,053 83, 252 2,890 2,464 116,136 88, 606 The average monthly number of employees during the year was as follows.. 2024 50 2023 49 Staff No employees received emoluments in excess of £60,000. -12-
New London Perfomiing Aits Centre Limited Notes to the Financlal Statements- continued forthe Year Ended 31st August 2024 10. Comparatives for the statement of financlal actlvities Unrestricted funds Income and endowments from Charitable activities Activrties undertaken directly 503,401 Expenditure on Raising funds 22.149 Charltable actlvltles Activities undertaken directly 535.891 Total 558,040 NET INCOMEI(EXPENDITURE) 154,6391 Reconciliatlon of funds Total funds brought foNard 57,045 Total funds carried forward 2,406 Tanglble fixed assets Flxtur8S and fittings Cost Al 1 st September 2023 Addilions 108,761 2,150 At 31st August 2024 110,911 Depreclatlon At 1st Sepiember 2023 Charge for year 93,212 4,426 At 31st August 2024 97,638 Net book value At 31st August 2024 13,273 At 31sl August 2023 15,549 -13-
New London Performing Arts Centre Llmited Notes to the Financlal Ststements - continued for the Year Ended 31st August 2024 12. Debtors: amounts falling due within one year 2024 2023 Other debtors Prepayments and accrued income 2,160 3,872 3,960 4,771 6,032 8,731 13. Credltor3: amounts falling due wlthln one year 2024 2023 Trade creditors Other creditors Accruals and deferfed income 9,224 18,522 13,434 5,854 49,239 10,573 41,180 65,666 14. Movement In funds Net movement In funds At 3118124 At 119123 Unrestricted funds General fund 2,406 11,963) 443 TOTAL FUNDS 2,406 11,9631 443 Net movement in funds. included in the above are as follows.. Incoming resources Resources expended Movement in funds Unrestrlcted funds General fund 591,738 (593,701 } {1,963 TOTAL FUNDS 591,738 (593,701) 11,963> Comparatlves for movement in funds Net movement In funds At 3118123 At 119122 Unrestricted funds General fund 57,045 (54,639} 2,406 TOTAL FUNDS 57,045 154,639) 2,406 -14-
New London Performing Arts Centre Limited Notes to the Financlal Statements - continued for the Year Ended 31st August 2024 14. Movement in funds - continued Comparative net movement in funds, included in the above are as follows.. Incomlng resources Resources expended Movement in funds Unrestrlcted funds General fund 503,401 1558,040) {54,639) TOTAL FUNDS 503,401 1558,0401 (54,639) A curr8nt year 12 months and prior year 12 months combined posrtion is as follows.. Net movement In funds At 3118124 At 119122 Unrestrlcted funds General fund 57,045 (56,6021 443 TOTAL FUNDS 57.045 (56,6021 443 A current year 12 months and prior year 12 months combined nel movemer)l in funds. included in the above are as follows.. Incomlng resources Resources expended Movement In funds Unrestrlcted funds General fund 1.095.139 (1,151,741) 156,602} TOTAL FUNDS 1.095,139 (1,151,741) (56,602) 15. Employee beneflt obligatlons The amount recognised in income or expenditu as an expense in relation to defined contribution plans was £3,05312023: £2,464). -15-
New London Performlng Arts Centre Limited Notes to the Flnancial Statements - continued for the Year Ended 31st August 2024 16. Related party disclosures There were no related party transactions for the year ended 31st August 2024. 17. Llmited by guarantee New London Performing Arts Centre Limrted is a company limited by guarantee and accordingly does not have a share capilal. -16-