DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
**Registered number: 05088552 Charity number: 1129199**
# **NEW INTERNATIONAL ENCOUNTER**
**(A Company Limited by Guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2023**
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and Administrative Details of the Charity, its Trustees and Advisers**|1|
|**Trustees' Report**|2 - 13|
|**Independent Examiner's Report**|14 - 15|
|**Statement of Financial Activities**|16|
|**Balance Sheet**|17 - 18|
|**Notes to the Financial Statements**|19 - 34|
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023**
|**Trustees**|Sara Garnham|
|---|---|
||Deborah Hayman-Nkhoma|
||Rowena Russell|
||Sarbjit Rana|
||Brigita Petrova (appointed 20 February 2023)|
||Jacob Zorenti-Nakhid (appointed 20 February 2023)|
||Gwen Hanauer (appointed 20 February 2023)|
||Helen Tovey (resigned 31 October 2022)|
|**Company registered**
**number**
05088552
**Charity registered**
**number**
1129199
**Registered office**
Cambridge Junction
Clifton Way
Cambridge
Cambridgeshire
CB1 7GX
**Company secretary**
Catherine Moore (resigned 20 March 2023)
Alex Byrne (appointed 20 March 2023)
**Chief executive officer**
Alex Byrne
**Accountants**
Peters Elworthy & Moore
Chartered Accountants
Salisbury House
Station Road
Cambridge
CB1 2LA
**Bankers**
Barclays Bank
28 Chesterton Road
Cambridge
CB4 3AZ||
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DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **New International Encounter**
## **Trustees Report for the year ended 31 March 2023**
The Trustees present their annual report together with the financial statements of New International Encounter for the year 1 April 2022 to 31 March 2023. The Annual Report serves the purposes of both a Trustees’ report and a Directors’ report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
## **Objectives and activities**
## **Charitable Objective**
The objects of the charity are to advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.
## **Our Vision**
Playful stories that connect us all.
## **Our aims**
We achieve our charitable objectives and vision through bringing together diverse theatre artists from around the world and different backgrounds to work in three key areas:
1. **Shows** : creating excellent high-quality performances and projects that provide joy and transformational experiences, especially to young people and their families.
2. **Creative Learning** : inspiring young people (particularly those not normally engaged in creative activity) as co-creators, through storytelling and place-making projects, allowing culture to transform their lives.
3. **Talent Development** : sharing our expertise, and providing training in the sector, to enhance the quality and diversity of work created for younger audiences. We provide opportunities for artists based in England to internationalise their work and develop sector specific leadership skills.
New International Encounter (NIE) is one of the UK’s leading theatre companies producing work for and with young people. We deliver high quality creative projects across the UK with an international outlook, working in a way that allows people of all abilities to access our work as audience, participants, collaborators, and creative artists.
NIE’s programme of local, national, and international projects reflects, responds to, and celebrates the diversity of contemporary England with a global backdrop.
In planning the activities for the year, the Trustees have given due consideration to guidance published by the Charity Commission relating to public benefit.
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**New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **What we achieved and what we created**
2022-23 continued to see a return to live / in-person working across the arts, with a somewhat patchy recovery of audiences for live work, as the sector recovered from the shock of the COVID-19 pandemic. The impact to the sector is still evident in partner venues and in audience numbers, and continues to be a significant factor in our planning. During the year NIE was able to pick up the main threads of our artistic program; reconnecting with partner venues and audiences, and re-establishing some of our international links and connections with co-producing partners. It was a year of artistic success and stabilising finances.
In 2022-23 our key achievements included:
## **Live**
1. Sharing our touring family work Snow White in partnership with Polka Theatre.
2. Delivering our annual co-creation project Tales from the Edge of Town in local primary schools, helping 315 children to respond to the experience of lock downs.
3. Sharing our live version of The Snow Queen at Tobacco Factory Theatres in Bristol, reaching a wide family audience of 16,435.
4. Continuing to support and extend development of leadership skills in the sector through three significant talent development opportunities: a 2-year board bursary, Assistant Director role, and Assistant Producer role.
5. Opening and touring two new projects with international partners; Grand Soft Day with Branar and The Ark, Ireland and What the F**k is going on? with Braga Theater and NIE, Norway.
6. Touring, our Shakespeare in a Suitcase production, Hamlet, locally and nationally in primary schools, libraries and studio venues, with audiences of 1,354 young people and families.
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **Digital**
1. Sharing the full recording of The Snow Queen as an online Christmas production, reaching a local and national audience.
2. Creating a digital teaching resource for schools through Moving IT on in partnership with Festival Bridge and Milton Road Primary School, Cambridge.
3. Reaching 6,000 digitally in viewing performances and online resources/ content.
This programme of work was achieved in partnership by:
1. Engaging with 3 local cultural education partnerships, including My Cambridge, as well as Cambridge City Council, Cambridgeshire County Council, and 16 Primary schools.
2. Working with 45 freelance artists, creative teams and specialists.
3. Working with 4 UK partners including national arts venues - Tobacco Factory Theatres (Bristol), Cambridge Junction (Cambridge) Oxford House (London), Festival Bridge (East of England) and 4 international partners.
## **Public Benefit**
The trustees confirm that they have referred to the Charity Commissions guidance on public benefit when reviewing the charities aim and objectives and in planning future activities. The trustees refer to public benefit throughout this report.
## **Monitoring our aims**
## **NIE projects mapped against Arts Council England Outcomes in ‘Lets Create’**
In 2022-23 NIE began work on embedding the new Arts Council England ‘Lets Create’ Outcomes and Investment Principles into our operation, evaluation and reporting. Here we begin to track our progress against the new evaluation and reporting framework of our major funder. This new framework comes fully into force for 2023-24.
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **Live Performance**
## **Snow White – Polka**
## May – June 2022
We returned to Polka Theatre in London for an extended run of our large scale Family show, Snow White. It allowed us to explore a return to live working outside of the busy Christmas period. Although the run was artistically successful, the audience figures were lower than expected. This represented a return to touring our work with national profile partners and refreshing a historic venue connection.
10 shows, Total audience 1,607
## **Tales From The Edge Of Town – Barnwell, Cambridge**
We worked with young people in North East Cambridge, through creative workshops to explore, tell and write stories from their local area. The children’s stories were transformed and presented back to them by professional actors.
_“I want to be an actor and a writer – me writing that story and then you lot liking it so much that you turned it into a live performance it was so good I loved it.”_
_“What’s really important for them it to have that sense of belonging… and because you are using their stories, it makes them feel like they are important and they are at the centre of that wider community.” Headteacher, The Galfrid._
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DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **What the F**k is Going on**
Co-Produced with NIE Norway and Braga Theatre in Drammen. A limited capacity show aimed at young audience (13-16 yrs) and addressing mental health, food and body image.
Opened at Braga Theatre in Drammen south of Oslo in Norway in September 2022 and toured through-out the Bukserund region.
UK Touring currently in planning.
25 shows on tour Estimated Audience: 1,500
## **Grand Soft Day**
September – October 2022
This show opened in Dublin as part of the Dublin Theatre Festival, after initial delay due to the Covid lockdowns and restrictions. It represented a return to international coproduction, with a key Irish partner, at a significant national scale festival. The show also completed a short tour of 29 Shows, across 5 venues, in Ireland, ending at the Barbaro festival in Galway. These festivals provided a significant showcase for this new strand of early years work with significant touring possibilities being picked up for 2023-24. Audience: Approx. 2,103 in total.
## **Snow Queen Bristol – Christmas 2022-23**
This was the first large-scale Christmas show run following the Covid restriction period. The run was artistically successful and got very close to its ambitious audience target figure. It reconfirmed a close collaboration with a key partner and reached a wide and varied audience with work of excellent quality.
Christmas 2022-23 - 59 shows, 16,435 Audience
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **Shakespeare in a Suitcase - Hamlet Tour**
Touring to schools and arts venues.
21 Shows, across 11 venues in multiple counties, including the Gulbenkian Theatre, Portsmouth Guildhall, Redbridge Drama Centre, Luton Feb Fest, Harlow Playhouse and ongoing partnership with Cambridge Junction.
Audience UK: 1,354 total
## **Digital**
Moving IT On continued its enquiry into how to use digital engagement in schools. Connecting with our live Shakespeare in a Suitcase project and working with two classes of Year 5 children studying Macbeth.
## **Talent Development**
## **Board Bursary**
The programme:
- Provides leadership development and capacity building within the arts sector
- Supports development for under-represented groups at board level
- Strengthens the artistic insight at a strategic level within our organisation
Purpose of the role:
The Board appoints external co-opted members to strengthen the breadth of experience and skills available. The role of the co-opted member is to independently assist the NIE Board to effectively discharge its role by providing advice and scrutiny on matters relating to the artistic and inclusivity policies of company development.
After initial evaluation the proposed 1-year Board Bursary was extended to run for two years for each Bursary holder, to provide a further development opportunity and successful recruitment has since been undertaken for the 2023-24 placement.
This role in 2022-23 was occupied by Jay Zorenti-Nakhid who was subsequently appointed to the Board as a full member. “ _The board bursary has been invaluable to my professional development as a potential future artistic leader. Having a company invest 2 years gave me space to learn and grow and then be confident enough to contribute at a board level in decision making processes. It is a unique opportunity provided by NIE that I am currently unaware of any other NPO touring theatre company providing._ “
## **Assistant Director Snow Queen**
Supporting an emerging artist from an underrepresented background to work on the remount of Snow Queen in Bristol.
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **ASSITEJ Babel Project**
NIE Artistic Director Alex Byrne delivered the first of a series of workshops for the ASSITEJ managed, EU funded, BABEL project – a series of talent development workshops at children’s theatre festivals across Europe for the next 3 years. Reaching 25 artists from across Europe and beyond with a fully funded, on-going, international talent development opportunity.
## **Assistant Producer**
NIE worked with Assistant Producers Leah Taylor and Jess Weston on a variety of community and touring projects during 22/23 sharing skills, providing career development opportunity’s, and mentoring support for these emerging producers.
## **Financial Review**
NIE continued to have strong and financially supportive relationship with 3 key partners – Arts Council England (ACE), Cambridge Junction and Tobacco Factory Theatres, Bristol. Each have been instrumental in their ongoing support to develop work as the sector recovers from the COVID lockdowns and responds to the difficult financial climate encountered during 2022-23.
The year overall saw an actual deficit of £16,623 (2022: £43,087) with total funds carried forward to 2023-2024 of £122,078 (2022: £138,701). 2022-2023 turnover was £342,107 (2022: £373,037) with ACE National Portfolio funding totalling 46% of turnover (2022: 42%).
During 2022-23 ACE once again selected NIE as part of its National Portfolio of regularly funded organisations for the period 2023-26. This confirms core annual funding of £156,144 through until end of March 2026. While this continued funding is significant in sustaining NIE’s ongoing operation, and financial security, it represents standstill funding for the organisation. This contributed to a more difficult economic operating environment for the company in 2022-23, that will continue to play out in 2023-24 and beyond.
NIE continued its commitment to the highest standards of sustainable operation in all its activities. Staff turnover in 2022-23 means that significant skills and experience in sustainable touring have been lost. These will be addressed with a renewed training program in 2023-24. We will continue to ask that all creatives and performers agree to our environmental pledges at the start of each activity.
## **Partnerships**
NIE enjoys the support and expertise of Cambridge Junction’s team and benefits from a subsidised office rent, and rehearsal space. The venue was also key to the development of new larger scale, work for family audiences.
Tobacco Factory Theatres is a key partner in the creation and sharing of new work. A successful run there reaching a large audience with excellent work is a key part of our ongoing artistic and financial model.
## **Principal Funding**
NIE was successful in securing ongoing funding from Arts Council England as part of the National Portfolio of £156,144 per year through until end of March 2026 (representing 38% of the total turnover over the 3-year funding cycle).
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **Fundraising**
NIE continues to work hard in diversifying its income and consolidating its programme to achieve greater resilience. Reliance on ACE NPO funding has decreased over previous funding cycles and we continue to identify ways to reduce this further over the next 3 year cycle. In 2022-23 we made successful grant bids to: Cambridge City Council, the Clore foundation, Norwich and Norfolk Festival and additional income through our Talent Development strand with funding from Babel EU. We continue to explore other fundraising models - The Friends Scheme received support totalling £975 and a restricted donation of £1200 to support the board bursary.
## **Earned income**
We received co-commissioning fees of £81,000 for the making of The Snow Queen in Year two of this 2-year project as well significant support in kind, and received box office / programming income from touring Hamlet.
## **Theatre Tax Relief**
Theatre Tax Relief (TTR) is a creative industry tax relief incentive, funded by the UK government. It offers a tax rebate against the money invested by us in a production of the theatrical piece made for touring.
NIE has successfully claimed Theatre Tax relief retrospectively for a number of new works. £58,935 of Theatre Tax relief will be claimed for 2022-23 on our projects. The TTR income recognised in the year of £58,542 includes prior year adjustments of £393.
## **Investment Policy**
From April 2015 a proportion of the unrestricted reserves has been invested in a fixed rate deposit account on a 95-day notice period. As pressure grew on cashflow during 2022-23 this Higher Rate Bond account was closed and the monies transferred to NIE’s business savings account which is no notice account. The Finance and Risk Sub-Committee of the board will revisit the investment and reserves policy in 2023-24.
## **Direct charitable expenditure**
Project expenditure included the re-rehearsal of The Snow Queen, Snow White, Grand Soft Day Shakespeare in a Suitcase Touring and Talent Development.
## **Year end**
We finished the year with total funds to carry forward of £122,078 (2022: £138,579). This includes charity free reserves of £76,892, excluding fixed assets and designated funds. These are to be used to support future projects and NIE activities, vital at a time of uncertainty.
The Trustees have reviewed the financial position of the Trust and have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the future. Accordingly, the financial statements continue to be prepared on the going concern basis. More information is included in note 1.2 to the financial statements.
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **Principal risks and uncertainties**
The company is dependent on project funding to support its activities but has active controls in place to manage the risks associated with a shortfall in funding, and closely monitors development. Financial systems are reviewed annually, and the board is kept informed of the financial position of the company through quarterly management reports and actively managed through the Finance and Risk Sub Committee (FRSC).
## **Managing risk**
NIE has a live risk register and matrix which is reviewed at every board meeting. The FRSC is well established and provides a further level of scrutiny and review for the organisation.
## **Reserves Policy**
The Trustees review the company's reserves policy in detail on an annual basis. In doing so, they seek to make a realistic assessment of the company's requirements in the light of planned future activities and expenditures, likely income levels and the major operational risks outlined in the risk register. They then balance this against the need to consider the importance of ensuring the delivery of the maximum value from an organisation in receipt of public funding.
## **Charity Free Reserves**
Currently, the total Charity Free reserves held are £76,892 (2022: £130,579).
No part of these funds are currently restricted. The board have approved a minimum unrestricted reserves equivalent to three months of operating costs at £48,615.
## **Designated Reserves**
Designated funds total £40,000 (2022: £74,696). The board takes the decision to designate these funds for the specific purpose of investing in the future development of the organisation in line with the current strategy:
- Covid-19 Response for live work presented to an audience – designate reserve up to £10,000
- Talent and development – designate reserve up to £15,000
- • Education – designate reserve up to £15,000
Further designated funds will be created, as appropriate and we will review the designated funds to address the Covid19 impacts in future years.
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
## **Plans for the future**
Our focus is to continue creating high-quality projects with and for young people and, through talent development, support the training and development in the sector. We will deliver local projects working with children where there is the most need. Alongside this, we are rebuilding some of the national and international elements of our programme.
We will further exploit existing family work and find new partners for an expanded touring circuit, mindful of the current challenges for touring. Our successful bid to ACE for NPO Funding through until 2026 puts us in a strong position to build new partnerships and refresh existing connections post-pandemic. These plans must balance risk and opportunity in a difficult financial climate.
Our core plan for the year ahead is to:
1. Rehearse and develop shows that are tour-ready and available for different spaces (including a new _**Shakespeare in a Suitcase** )_ .
2. Co-create with young people in targeted areas of inequality in Cambridge and Fenland ( _**Legends of the fen**_ ).
3. Build links with national partners (including those based in Levelling Up for Culture Places) and raise NIE’s profile for future touring through the creation of a new large scale family show ( _**Hansel and Gretel**_ )
4. Capitalise on future touring opportunities for our shows ( _**Hamlet**_ / _**Grand Soft Day**_ **)** for 23/24 and beyond.
5. Develop resources online in conjunction with schools ( _**Moving IT on**_ ).
6. Extend our talent development programme offering new leadership opportunities and targeted training for those currently under-represented in the industry ( _**Board Bursary).**_
## **Structure, Governance and Management**
New International Encounter (NIE) is a company limited by guarantee and incorporated on the 30th March 2004. It is governed by its Memorandum and Articles of Association, amended by a special resolution on the 30th January 2009.
NIE is a charity registered with the Charity Commission since 17 April 2009.
## **Decision making**
The board of Trustees, which currently has 7 members, administers the Charity. In addition the Board Bursary holder is appointed as an observer to the board. The Chief Executive/ Artistic Director and Executive Director have delegated authority for operational matters including finance, employment and general management. The Chief Executive/ Artistic Director proposes the company’s creative direction which is reflected in the overall strategy for the organisation.
Alongside the board meetings, our sub-committees are:
- Finance and Risk
- Human Resources
- Diversity and Inclusion
- Fundraising
Tasks groups are created as needed and include:
- Strategy
- Nominations for board recruitment
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## **New International Encounter**
## **Trustee’s Report for the year ended 31 March 2023**
Delivery and operational decisions for individual projects are managed by the staff team, whilst strategic decisions on annual and longer-term planning, capital and fundraising strategy are decided at board level.
## **Pay and remuneration**
Pay levels are reviewed, by our Human Resources sub-committee, alongside benefits packages. NIE is keen to recruit, develop and retain a skilled staff team, making new posts as accessible as possible. NIE offers an attractive work package which includes pension, flexible working and sabbatical time. Salary bands are benchmarked against industry levels. Appraisals to review performance take place once a year.
## **Selection and appointment of Trustees**
NIE regularly undertake a skills audit with the board, identifying any skills gaps. New Trustees are appointed after a thorough and open recruitment process culminating in confirmation by shareholders at the AGM.
New Trustees are fully briefed on their obligations under charity and company law through induction training with the organisation. This includes briefing on the structure, finance, operational and strategic activities of the company. As of 31 March 2023, NIE had 7 trustees and was recruiting for the supported Board Bursary role.
We are undertaking board review and succession planning in Autumn 2023 to review the evolution of the board and develop a plan to recruit a new Chair.
## **Professional training**
New International Encounter offers additional professional training opportunities for its Trustees. In the past, this has included fundraising training through Achates Philanthropy.
## **Staff professional development**
Training needs are identified through NIE’s annual appraisals and can include formal training courses, mentorship or attendance at festivals and conferences.
## **Personnel**
During 2023-24 we will have returned to a staff team of 4.0 FTE to support artist, producing and financial delivery.
A creative team of freelancers are recruited for individual projects, with contracts based on the Independent Theatre Council’s conditions of employment.
## **Norway Charity**
New International Encounter co-operates with registered charity Stifelsten Theater (Brønnøysund Register Centre (BRC) in Norway no. 991979727). We share a website and meet regularly to discuss longer term planning on artistic shows. No funds are sent to the Norway Charity. All delivery of activities as detailed in the annual account is undertaken through New International Encounter.
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## **New International Encounter**
## **Statement of Trustees’ Responsibilities**
## **for the year ended 31 March 2022**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by:
**Sara Garnham** Trustee
Date: 16 October 2023
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## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023**
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF NEW INTERNATIONAL ENCOUNTER ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2023.
## **RESPONSIBILITIES AND BASIS OF REPORT**
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **INDEPENDENT EXAMINER'S STATEMENT**
Since the Charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of (enter body here), 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 Charity 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.
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# **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2023**
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: M Hewett
Dated: 16 October 2023 FCA DChA
## **PETERS ELWORTHY & MOORE**
Chartered Accountants Salisbury House Station Road Cambridge CB1 2LA
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## **NEW INTERNATIONAL ENCOUNTER**
## **(A Company Limited by Guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2023**
|**Note**
**INCOME FROM:**
Donations and legacies
2
Charitable activities
3
Investments
4
Other income
5
**TOTAL INCOME**
**EXPENDITURE ON:**
Charitable activities
7
**TOTAL EXPENDITURE**
**NET EXPENDITURE**
Transfers between funds
13
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS:**
Total funds brought forward
Net movement in funds
**TOTAL FUNDS CARRIED FORWARD**|**Restricted**
**funds**
**2023**
**£**
**6,960**
**200**
**-**
**-**
**7,160**
**12,012**
**12,012**
**(4,852)**
**4,852**
**-**
**-**
**-**
**-**|**Unrestricted**
**funds**
**2023**
**£**
**158,904**
**116,749**
**752**
**58,542**
**334,947**
**346,718**
**346,718**
**(11,771)**
**(4,852)**
**(16,623)**
**138,701**
**(16,623)**
**122,078**|**Total**
**funds**
**2023**
**£**
**165,864**
**116,949**
**752**
**58,542**
**342,107**
**358,730**
**358,730**
**(16,623)**
**-**
**(16,623)**
**138,701**
**(16,623)**
**122,078**|Total
funds
2022
£
275,348
41,715
393
55,581|
|---|---|---|---|---|
|||||373,037
416,124|
|||||416,124
(43,087)
-|
|||||(43,087)
181,788
(43,087)|
|||||138,701|
The Statement of Financial Activities includes all gains and losses recognised in the year.
The notes on pages 19 to 34 form part of these financial statements.
Page 16
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee) REGISTERED NUMBER: 05088552**
## **BALANCE SHEET AS AT 31 MARCH 2023**
|**Note**
**FIXED ASSETS**
Tangible assets
9
**CURRENT ASSETS**
Debtors
10
Investments
11
Cash at bank and in hand
Creditors: amounts falling due within one
year
12
**NET CURRENT ASSETS**
**TOTAL NET ASSETS**
**CHARITY FUNDS**
Restricted funds
13
Unrestricted funds
13
**TOTAL FUNDS**|**106,839**
**27,078**
**8,711**
**142,628**
**(25,736)**|**2023**
**£**
**5,186**
**5,186**
**116,892**
**122,078**
**-**
**122,078**
**122,078**|59,867
26,523
55,039
141,429
(10,850)|2022
£
8,122|
|---|---|---|---|---|
|||||8,122
130,579|
||||||
|||||138,701|
|||||-
138,701|
||||||
|||||138,701|
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
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DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
# **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee) REGISTERED NUMBER: 05088552**
# **BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2023**
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
**Sara Garnham**
Chair
Date: 16 October 2023
The notes on pages 19 to 34 form part of these financial statements.
Page 18
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES**
## **1.1 BASIS OF PREPARATION OF FINANCIAL STATEMENTS**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
New International Encounter meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
There were no significant estimates or judgements made by management in preparing these financial statements.
## **1.2 GOING CONCERN**
On the 4 November 2022 Arts Council England confirmed a further three years of investment at £156,144 per annum from April 2023 to March 2026. The Trustees have reviewed the financial position of the charity and have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Accordingly, the financial statements continue to be prepared on the going concern basis.
## **1.3 COMPANY STATUS**
The charity is a company limited by guarantee. The members of the company are the trustees named on the reference and administrative details page of these financial statements. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.
## **1.4 INCOME**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably.
Income 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.
Grants are recognised when the charity has been notified in writing of both the amount and settlement date. In the event that a grant is subject to conditions that require a level of performance before the charity is entitled to the funds, the income is deferred and not recognised until either those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the charity and it is probable that those conditions will be fulfilled in the reporting period.
The grant receivable from The Arts Council England is unrestricted and has been recognised in the accounts on an annual basis. Although a grant had been awarded for multiple periods, the full grant is not recognised in the accounts on commencement because it is implicit in the grant award agreement that time-related conditions apply and therefore the funding should be received and costs
Page 19
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
**NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **1.4 INCOME (CONTINUED)**
incurred on an annual basis.
Income received for charitable activities (performance fees, box office fees and workshop fees) is recognised in the period to which it relates. Income received in advance is carried forward as deferred income on the balance sheet. Any amounts owing to the charity for performances which have occurred during the accounting period are included as debtors.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
## **1.5 EXPENDITURE**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses including support costs and governance costs are allocated to the applicable expenditure headings.
Support costs are those costs incurred directly in support of expenditure on the objects of the charity. Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Grants payable are charged in the year when the offer is made except in those cases where the offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulfilled. Grants offered subject to conditions which have not been met at the year end are noted as a commitment, but not accrued as expenditure.
## **1.6 GOVERNMENT GRANTS**
Government grants relating to tangible fixed assets are treated as deferred income and released to the Statement of Financial Activities over the expected useful lives of the assets concerned. Other grants are credited to the Statement of Financial Activities as the related expenditure is incurred.
## **1.7 INTEREST RECEIVABLE**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
Page 20
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
**NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **1.8 TANGIBLE FIXED ASSETS AND DEPRECIATION**
Tangible fixed assets costing £500 or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably.
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives.
Depreciation is provided on the following bases:
- Fixtures and fittings 3 to 5 years straight-line - Computer equipment 5 years straight-line
## **1.9 DEBTORS**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.10 CURRENT ASSET INVESTMENTS**
Current asset investments represent cash held on deposit with a maturity date of less than one year which is being held for investment purposes rather than to meet short term cash commitments as they fall due.
## **1.11 CASH AT BANK AND IN HAND**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
## **1.12 LIABILITIES AND PROVISIONS**
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
## **1.13 FINANCIAL INSTRUMENTS**
The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.
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DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **1. ACCOUNTING POLICIES (CONTINUED)**
## **1.14 PENSIONS**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **1.15 FUND ACCOUNTING**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
## **2. INCOME FROM DONATIONS AND LEGACIES**
|Donations
Grants
TOTAL 2022|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
2,200
2,760
4,760
156,144
6,960
158,904
56,694
218,654|**Total**
**funds**
**2023**
**£**
**4,960**
**160,904**
**165,864**
275,348|Total
funds
2022
£
11,343
264,005|
|---|---|---|---|
||||275,348|
|||||
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DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **DONATIONS**
Included within donations are in-kind donations relating to office costs at Cambridge Junction of £1,200.
Donations comprise the following:
|In-kind donations
Friends Scheme
Donations under £5,000 (including bucket
collections)
Gift aid
**TOTAL 2023**
TOTAL 2022
**GRANTS**|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
-
1,200
-
1,258
2,200
-
-
302
2,200
2,760
1,067
10,276|**Total**
**funds**
**2023**
**£**
**1,200**
**1,258**
**2,200**
**302**
**4,960**
11,343|Total
funds
2022
£
8,925
1,067
551
800|
|---|---|---|---|
||||11,343|
|||||
Grants comprise the following:
|Arts Council England - Revenue Grant
Department for Digital, Culture, Media and
Sport (DCMS) - Culture Recovery Fund
Round 2 and 3
National Lottery Projects Grants - What Just
Happened
Cambridge City Council - Tales from the Edge
of Town
Cambridgeshire County Council provision of
HAF Funded Places Christmas 2021
Festival Bridge - Moving IT
TOTAL 2022|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
-
156,144
-
-
-
-
3,260
-
-
-
1,500
-
4,760
156,144
55,627
208,378|**Total**
**funds**
**2023**
**£**
**156,144**
**-**
**-**
**3,260**
**-**
**1,500**
**160,904**
264,005|Total
funds
2022
£
156,144
52,234
50,000
4,000
1,127
500|
|---|---|---|---|
||||264,005|
|||||
Page 23
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **3. INCOME FROM CHARITABLE ACTIVITIES**
|Performance fees
Workshop fees
Co-Production income
TOTAL 2022|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
200
31,375
-
4,374
-
81,000
200
116,749
-
41,715|**Total**
**funds**
**2023**
**£**
**31,575**
**4,374**
**81,000**
**116,949**
41,715|Total
funds
2022
£
4,625
90
37,000|
|---|---|---|---|
||||41,715|
|||||
In 2022 all income from charitable activities was unrestricted.
## **4. INVESTMENT INCOME**
|**Unrestricted**
**funds**
**2023**
**£**
Bank interest
166
Deposit account interest
484
Other interest
102
752
TOTAL 2022
393
In 2022 all investment income was unrestricted.|**Total**
**funds**
**2023**
**£**
**166**
**484**
**102**
**752**
393|Total
funds
2022
£
15
378
-|
|---|---|---|
|||393|
||||
Page 24
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER**
## **(A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **5. OTHER INCOMING RESOURCES**
|Coronavirus Job Retention Scheme
Theatre Tax Relief
TOTAL 2022|**Unrestricted**
**funds**
**2023**
**£**
-
58,542
58,542
55,581|**Total**
**funds**
**2023**
**£**
**-**
**58,542**
**58,542**
55,581|Total
funds
2022
£
21,722
33,859|
|---|---|---|---|
||||55,581|
|||||
Income from the Coronavirus Job Retention Scheme was received for furloughed workers. This was spent on staff wages and salaries.
Theatre tax relief for 2023 represents £58,935 for 2022/23 and other adjustments of (£393).
Theatre tax relief for 2022 represents an estimate of £30,000 for 2021/22 and additional receipts of £3,859 for 2020/21.
## **6. ANALYSIS OF GRANTS**
|Promotion of the arts
TOTAL 2022|**Grants to**
**Institutions**
**2023**
**£**
(233)
400|**Total**
**funds**
**2023**
**£**
**(233)**
400|Total
funds
2022
£
400|
|---|---|---|---|
|||||
The £233 credit represents the unspent balance of a 21/22 project that was reimbursed to the charity.
Page 25
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **7. ANALYSIS OF EXPENDITURE BY ACTIVITIES**
|Promotion of the arts
TOTAL 2022|**Activities**
**undertaken**
**directly**
**2023**
**£**
155,137
205,201|**Grant**
**funding of**
**activities**
**2023**
**£**
(233)
400|**Support**
**costs**
**2023**
**£**
203,826
210,523|**Total**
**funds**
**2023**
**£**
**358,730**
416,124|Total
funds
2022
£
416,124|
|---|---|---|---|---|---|
|||||||
Of the above expenditure, £12,012 (2022: £80,252) was met directly from restricted funds with £346,718 (2022: £335,872) from unrestricted funds.
## **ANALYSIS OF DIRECT COSTS**
|Production costs
Artists' fees
Marketing
Accomodation
Travel
Subsistence
Workshop costs
Transport and freight
Project costs|**Total**
**funds**
**2023**
**£**
**35,791**
**82,069**
**7,881**
**8,821**
**5,513**
**4,813**
**121**
**2,884**
**7,244**
**155,137**|Total
funds
2022
£
59,416
85,232
4,706
28,980
10,787
10,612
877
2,322
2,269|
|---|---|---|
|||205,201|
Included in 2022 production costs was rental space of £7,300 that was in-kind.
Page 26
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **7. ANALYSIS OF EXPENDITURE BY ACTIVITIES (CONTINUED)**
## **ANALYSIS OF SUPPORT COSTS**
|Staff costs
Depreciation
Office rent and storage
Travel and subsistence
Insurance
Telephone and internet
Subscriptions and sundry expenses
Office costs
Training and advocacy
Pension admin charges
Board costs
Difference on foreign exchange
Legal, professional and consultancy fees (governance)
Accountancy fees (governance)
Independent Examiner's fees - examination (governance)
Independent Examiner's fees - taxation (governance)|**Total**
**funds**
**2023**
**£**
**156,635**
**4,015**
**6,644**
**402**
**1,836**
**871**
**3,214**
**855**
**343**
**432**
**108**
**(205)**
**17,508**
**7,718**
**1,950**
**1,500**
**203,826**|Total
funds
2022
£
177,332
4,666
6,436
811
2,089
803
3,289
1,383
1,061
432
310
75
4,274
4,247
1,815
1,500|
|---|---|---|
|||210,523|
Included in Office rent and storage is rent of £1,200 (2022: £1,625) that was in-kind.
Page 27
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **8. STAFF COSTS, KEY MANAGEMENT PERSONNEL AND TRUSTEES' EXPENSES**
|Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**2023**
**£**
**142,120**
**10,447**
**4,068**
**156,635**|2022
£
161,341
11,338
4,653|
|---|---|---|
||||
|||177,332|
The average number of persons employed by the Charity during the year was as follows:
||**2023**|2022|
|---|---|---|
||**No.**|No.|
|Charitable activities|**4**|6|
No employee received remuneration amounting to more than £60,000 in either year.
The charity considers its key management personnel to be the Trustees, the Chief Executive, Mr A Byrne and the Executive Producer, Mrs C Moore. Mrs C Moore left the organisation on the 31st December 2022, replaced by Executive Director, Ms L Elmer, from the 3rd July 2023. Staff turnover has resulted in staff salary savings during this time.
During the year, the key management personnel recieved total remuneration including employer's national insurance contributions and pension contributions of £98,339 (2022: £97,614).
The Trustees all give their time and expertise without any form of remuneration or other benefit in kind (2022: £Nil).
During the year, £90 was reimbursed to one Trustee in respect of travel expenses incurred on the charity's behalf (2022 - none).
Page 28
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **9. TANGIBLE FIXED ASSETS**
|**COST OR VALUATION**
At 1 April 2022
Additions
At 31 March 2023
**DEPRECIATION**
At 1 April 2022
Charge for the year
At 31 March 2023
**NET BOOK VALUE**
At 31 March 2023
At 31 March 2022
**10.**
**DEBTORS**
**DUE WITHIN ONE YEAR**
Trade debtors
Other debtors
Prepayments
Tax recoverable|**Fixtures and**
**fittings**
**£**
**23,173**
**1,080**
**24,253**
**17,480**
**3,445**
**20,925**
**3,328**
5,693||**Computer**
**equipment**
**£**
**2,853**
**-**
**2,853**
**424**
**571**
**995**
**1,858**
2,429
**2023**
**£**
**597**
**3,224**
**8,193**
**94,825**
**106,839**|**Total**
**£**
**26,026**
**1,080**|
|---|---|---|---|---|
|||||**27,106**|
|||||**17,904**
**4,016**|
|||||**21,920**|
||||||
|||||**5,186**|
|||||8,122|
|||||2022
£
9,363
1,998
18,502
30,004
59,867|
Page 29
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **11. CURRENT ASSET INVESTMENTS**
|Deposit account
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Other taxation and social security
Pension fund loan payable
Other creditors
Accruals and deferred income
Deferred income at 1 April 2022
Resources deferred during the year
Amounts released from previous periods|**2023**
**£**
**27,078**
**2023**
**£**
**11,254**
**2,363**
**838**
**6,452**
**4,829**
**25,736**
**2023**
**£**
**800**
**-**
**(800)**
**-**|2022
£
26,523|
|---|---|---|
|||2022
£
2,487
3,713
1,310
-
3,340|
||||
|||10,850|
|||2022
£
-
800
-|
||||
|||800|
## **12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
The deferred income of £800 related to a deferred grant from Cambridge City Council.
Page 30
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
|**13.**
**STATEMENT OF FUNDS**
**STATEMENT OF FUNDS - CURRENT YEAR**
**Balance at 1**
**April 2022**
**£**
**UNRESTRICTED FUNDS**
**DESIGNATED FUNDS**
Covid-19 Response for live
work presented to an
audience
**30,000**
Talent and development
**6,696**
Grand Soft Day
**23,000**
Education
**15,000**
**74,696**
**GENERAL FUNDS**
General Funds - all funds
**64,005**
**TOTAL UNRESTRICTED**
**FUNDS**
**138,701**
**RESTRICTED FUNDS**
Tales from the Edge of Town
**-**
Moving IT On
**-**
Board Bursary
**-**
**-**
**TOTAL OF FUNDS**
**138,701**|**Income**
**£**
**-**
**-**
**-**
**-**
**-**
**334,947**
**334,947**
**4,460**
**1,500**
**1,200**
**7,160**
**342,107**|**Expenditure**
**£**
**-**
**-**
**-**
**-**
**-**
**(346,718)**
**(346,718)**
**(7,512)**
**(1,500)**
**(3,000)**
**(12,012)**
**(358,730)**|**Transfers**
**in/out**
**£**
**(20,000)**
**8,304**
**(23,000)**
**-**
**(34,696)**
**29,844**
**(4,852)**
**3,052**
**-**
**1,800**
**4,852**
**-**|**Balance at**
**31 March**
**2023**
**£**
**10,000**
**15,000**
**-**
**15,000**|
|---|---|---|---|---|
|||||**40,000**|
|||||**82,078**|
|||||**122,078**|
|||||**-**
**-**
**-**|
|||||**-**|
|||||**122,078**|
Page 31
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **13. STATEMENT OF FUNDS (CONTINUED) STATEMENT OF FUNDS - PRIOR YEAR**
|**UNRESTRICTED FUNDS**
**DESIGNATED FUNDS**
Covid-19 Response for live
work presented to an
audience
Talent and development
Grand Soft Day
Education
**GENERAL FUNDS**
General Funds - all funds
**TOTAL UNRESTRICTED**
**FUNDS**
**RESTRICTED FUNDS**
Tales from the Edge of Town
Moving IT On
Board Bursary
National Lottery Project Grant -
What Just Happened?
HAF Funded Places Christmas
2021
**TOTAL OF FUNDS**|Balance at
1 April 2021
£
30,000
10,000
25,000
30,000
95,000
73,580
168,580
7,508
4,500
1,200
-
-
13,208
181,788|Income
£
-
-
-
-
-
316,343
316,343
5,067
500
-
50,000
1,127
56,694
373,037|Expenditure
£
-
-
-
-
-
(335,872)
(335,872)
(22,240)
(5,000)
(1,200)
(50,685)
(1,127)
(80,252)
(416,124)|Transfers
in/out
£
-
(3,304)
(2,000)
(15,000)
(20,304)
9,954
(10,350)
9,665
-
-
685
-
10,350
-|Balance at
31 March
2022
£
30,000
6,696
23,000
15,000|
|---|---|---|---|---|---|
||||||74,696|
||||||64,005|
||||||138,701|
||||||-
-
-
-
-|
||||||-|
||||||138,701|
Page 32
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
**NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **13. STATEMENT OF FUNDS (CONTINUED)**
## **Designated Funds**
Covid-19 Response for live work presented to an audience - This is a pot which can be used against risks in remounting work, delays in projects or unexpected changes arising due to the ongoing pandemic. Based on estimated costs for up to 2 weeks of cancelled shows.
Talent and development - To enable un-budgeted further development of the programme dependent on demand during the financial year and to support our creative case for diversity.
Education reserve - To enable an education project to be realised beyond NIE contributed costs if other funding bids are unsuccessful, or partners are unable to support financially.
Grand Soft Day reserve - To support the delayed co-production due to Coronavirus of this early years project. This activity has now bee compressed, with final delivery into 22-23.
Research & Development reserve - To enable un-budgeted research and development to take place when required at any time during the financial year. The Trustees have decided that there is no requirement for this fund currently and the balance has been transferred to other unrestricted funds.
## **Restricted Funds**
Arts Council Catalyst Grant - Organisational development grant from Arts Council England to support training and improve fundraising efforts across a period of 18 months.
Tales from the Edge of Town - Further grants from Cambridge City Council of £4,000 and Friends Scheme £1,067 in addition to unspent brought forward funds from Cambridge City Council, Friends Scheme, the National Lottery Community Fund - Awards for all and the Cambridge Community Foundation. The project was working with primary school age children for a storytelling project with children and young people in the local area culminating in a performance and was completed in the year.
Data Curators/Spynet - This project will produce a show made with young people from Alconbury, Sawtry and Ramsey to be performed in a non arts space.
Moving IT On - This is a project in partnership with two primary schools and will explore the particular benefits that digital/online practice (interactive) brings to a co-creation process.
Board bursary - This fund has been set up with a donation specifically to cover Board development costs in 2021/2022.
Musicians of Bremen Japan - This fund is a commission from the Ricca Ricca Festival in Okinawa, Japan, part funded by a grant from the Japan / UK Sasakawa Foundation. The show will open in July 2023 in Naha, Okinawa with possible future touring in 2024.
Transfers against unrestricted funds in 2022 and 2023 have been utilised to reflect the core costs associated with the time and expertise of NIE staff not directly attributed via expenditure. These transfers represent NIE's contribution towards these restricted projects.
Page 33
DocuSign Envelope ID: B1672119-C14E-4C7D-B5C5-76FAD357731D
## **NEW INTERNATIONAL ENCOUNTER (A Company Limited by Guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023**
## **14. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - CURRENT YEAR**
|**Unrestricted**
**funds**
**2023**
**£**
Tangible fixed assets
5,186
Current assets
142,628
Creditors due within one year
(25,736)
**TOTAL**
122,078|**Total**
**funds**
**2023**
**£**
**5,186**
**142,628**
**(25,736)**
**122,078**|
|---|---|
## **ANALYSIS OF NET ASSETS BETWEEN FUNDS - PRIOR YEAR**
|Tangible fixed assets
Current assets
Creditors due within one year
**TOTAL**|Unrestricted
funds
2022
£
8,122
141,429
(10,850)
138,701|Total
funds
2022
£
8,122
141,429
(10,850)
138,701|
|---|---|---|
## **15. PENSION COMMITMENTS**
The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents employer contributions payable by the charity to the fund and amounted to £4,068 (2022: £4,653). Total contributions totalling £838 (2022: £1,310) were payable to the fund at the balance sheet date and are included in creditors.
## **16. RELATED PARTY TRANSACTIONS**
Unrestricted donations include £600 from one Trustee (2022: two Trustees or their immediate family £615). All donations were given free of any external conditions. There were no other related party transactions during the current or previous years.
Page 34
Docusign EnvÈlope ID." 8167211c14E4c7D-8sc>76FAD3s7731D