OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-09-30-accounts

Registered number: 07034118 Charity number: 1141921

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

CONTENTS

Page
Reference and Administrative Details of the Charity, its Trustees and Advisers 1
Trustees' Report 2 - 12
Independent Auditors' Report on the Financial Statements 13 - 17
Statement of Financial Activities 18
Balance Sheet 19
Statement of Cash Flows 20
Notes to the Financial Statements 21 - 35

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2023

Trustees

M Gilligan M A Fisher

J Quinn W T Winters, Chairman

A Winters

L Bernhardt

Company registered number

07034118

Charity registered number

1141921

Registered office

29/30 Fitzroy Square London W1T 6LQ

Principal operating office

103 Notting Hill Gate London W11 3LB

Independent auditors

Goodman Jones LLP Chartered Accountants 29/30 Fitzroy Square London W1T 6LQ

Page 1

(A Company Limited by Guarantee)

THE PRINT ROOM THEATRE

TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2023

The Trustees present their annual report together with the audited financial statements of the Charity for the 1 October 2022 to 30 September 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.

The Charity also trades under the names Coronet Theatre.

Objectives and activities

a. Aims and objectives

The Charity’s mission is to advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama, dance, performance art and poetry.

The Print Room is an art house, producing an eclectic programme of UK and International artists’ work, creating a powerful and exciting programme, unlike any other theatre in London. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.

b. Activities for achieving objectives

The objective of the charity is to advance the arts for the public benefit by the promotion in particular, but not exclusively, of the art of drama, dance, performance art and poetry. The charity’s mission is to stage exciting undiscovered pieces by great writers, and to provide opportunities for emerging and talented artists from all fields. The Print Room produces and presents exciting work by artists from around the world, working across media and genre. The powerful programme of artistic productions, performances, exhibitions, concerts, workshops and other participatory events create surprising experiences for local and travelling audiences.

The charity aims to make its work accessible to the widest possible audience and looks to remove barriers to attendance through a range of initiatives including discounted tickets for students, artists, schools and local audiences as well as disabled people and older patrons. The charity provides professional development for young and emerging artists, creative and staff teams at the theatre and in workshops in off-site locations.

We have continued to develop relationships with a number of local schools and reached out to schools in neighbouring boroughs, inviting them to see performances at reduced or no cost.

Page 2

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance

a. Achievements

Over the year we have staged a variety of shows from plays, poetry, dance, Art Exhibitions and music.

Achievements:

We hosted 12,670 attendances for the year. This was slightly down compared the previous year, which was 13,964 attendances. The reason for the difference was that we did a higher number of shorter projects therefore the number of instances were lower. This was in an effort to continuously manage travel and accommodation cost, due an increase in international shows.

b. Outreach

We continued our association with local schools and we were pleased that so many came to see The Yellow Wallpaper . We also hosted the French Lycee, RADA and Norland Place School on our main stage for their own end of year productions.

Page 3

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance (continued)

c. Productions 2022-23

Say it Loud & Black Sun by Ballet Black 14-15 Oct 2022

Acclaimed dance company Ballet Black celebrated their 20th anniversary with two special screenings of their dance films Say it Loud and Black Sun .

Both were followed by exclusive Q&A sessions with Ballet Black’s artistic team.

WHIST by AOE 26-30 Oct 2022

4 Stars “an awesome virtual-reality dance experience” (The Observer)

Inspired by Sigmund Freud’s real case studies, WHIST tells the story of a family – their dreams, fears and desires are unveiled through physical theatre. Audiences wore a VR headset and interacted with objects around the space, exploring each family member’s perspective how they chose to, with over 70 paths to take.

Originally presented at Sadler’s Wells, before touring the world to rave reviews, dance company AOE presented this major work in a special arrangement for our main stage.

Sarah

Based on the novel by Scott McClanahan Adapted and directed by Oliver Reese 18 Nov - 17 Dec 2022

5 Stars “A highly original, endlessly entertaining piece of theatre" (The Reviews Hub)

Berliner Ensemble Artistic Director Oliver Reese returned to the The Coronet Theatre following his sold-out production of The Tin Drum to adapt and direct cult icon Scott McClanahan ‘s darkly comic novel, The Sarah Book . Acclaimed actor Jonathan Slinger brought to life and unflinching and tragic portrait of a man trying to live the American dream as his world crumbles around him.

TITANS

3 - 4 Mar 2023

Inspired by Greek mythology, TITANS was a bold and absurd fable blending dance and performance art by daring and acclaimed choreographer Euripides Laskaridis .

Due to exceptional demand, an extra matinee was added to the run of TITANS .

BLIND by Duda Paiva Company 8 - 11 Mar 2023

An inspiring, hallucinatory solo work by Duda Paiva , exploring a childhood illness which left him temporarily

Page 4

(A Company Limited by Guarantee)

THE PRINT ROOM THEATRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance (continued)

blind, told through hypnotic puppetry and movement.

BLIND transforms his experience with hand-made puppets and stunning visual landscapes to detail his surreal path to healing. A powerful story of disability, rejection and resolution touched by a delightful sense of humour.

Dance of Death by August Strindberg A co-production with the National Theatre of Norway 16 - 31 Mar 2023

“ Every single look and every single line is charged with an undercurrent of tension that fills the entire stage .” (Klassekampen)

The National Theatre of Norway returned to The Coronet Theatre, following their sold-out production of Ibsen’s Little Eyolf , with August Strindberg ’s savagely comic Dance of Death .

Marit Moum Aune ( The Lady From the Sea ) directed acclaimed Norwegian actors Pia Tjelta, Jon Øigarden and Thorbjørn Harr in a fiery new version of Strindberg’s classic, which delved into the primitive instincts that lie beneath human behaviour.

Forest of Confession by Rihoko Sato

17 - 19 Apr 2023

Celebrated Japanese choreographer Rihoko Sato presented her solo UK Premiere – a hypnotic dance fusing poetry and song unfolding in the heart of nocturnal forest. Sato returned to The Coronet for the third time following her acclaimed collaborations with internationally renowned dancer and choreographer Saburo Teshigawara in The Idiot and Tristan and Isolde .

Festival of Italian Literature in London 2023 (FILL 2023)

22 Apr 2023

4 Stars “ A meaningful piece of political theatre .” (The Reviews Hub)

FILL 2023 was a festival of literature and ideas promoting the appreciation of Italian culture in the UK. Organised by an independent group of London-based writers and academics, the festival has brought together writers and thinkers from different backgrounds since 2017.

The programme encompassed different arts and forms of literature, from poetry to comic books, and a variety of topics ranging from digital love to environmentalism.

Sulla Morte Senza Esagerare by Teatro dei Gordi 11 - 13 May 2023

Sulla Morte Senza Esagerare (On Death Without Exaggeration) was a touching performance rooted in traditions of physical theatre, commedia dell’arte and silent-mask theatre which combine in a moving and unconventional exploration of death.

Pioneering a new theatrical language of mask-theatre, Teatro dei Gordi have toured worldwide presenting their work to critical acclaim, and here made their UK debut.

Page 5

(A Company Limited by Guarantee)

THE PRINT ROOM THEATRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance (continued)

Due to exceptional demand, an extra matinee was added to the run of Sulla Morte Senza Esagerare.

Grey Man

17 – 19 May 2023

4 Stars “ A sharply directed and brilliantly eerie nailbiter ” (The Guardian)

A special screening of a pioneering theatrical film written by Lulu Raczka , directed by Robyn Winfield-Smith and starring Kate O’Flynn and Kristin Hutchinson.

Grey Man is a thrilling exploration of how our perspective can completely reshape the world around us. Two women take wildly different paths in response to precisely the same events in this powerful play about the stories we tell and their power to haunt us or heal us…

Rewriting Love and Pain

An exhibition by Luigia Riva 22 May – 2 Jun 2023

Rewriting Love & Pain , a retrospective exhibition of Austro-Brazilian artist Roberta Lima ’s art explored biopolitics, affection and gender affirmation through body modification performance, videos and sculptures. Curated by Camilla Rocha Campos .

Lovefool

22 – 26 May 2023

A brutally honest, hilarious, and heartbreaking one-woman show navigating the impossibly confusing gender dynamics of modern love. Presented and performed in English by the Théâtre National du Luxembourg , where it played to sold out audiences and received critical acclaim. This extraordinary piece of new writing received its UK Premiere at The Coronet Theatre.

Lovefool wass written and directed by Lithuanian-Luxembourgish playwright, actress, filmmaker and theatre director Gintare Parulyte and performed by UK based Croatian-American theatre maker Kristin Winters .

Facing a Silent Roar by KENTARO!!

7 – 9 Jun 2023

Boundary-breaking Japanese hip-hop star KENTARO!! brought his brand new solo show Facing a Silent Roar to The Coronet Theatre, presenting a fresh and uniquely Japanese take on hip-hop dance with stunning, genreblending choreography that transcended the conventional.

Sound & Silence

An exhibition by Soraya Syed 22 Jun – 9 Jul 2023

Sound & Silence was an immersive and interactive show by calligraphic artist Soraya Syed using digital and physical elements to juxtapose the materials and practice of Arabic calligraphy with a broader humanitarian

Page 6

(A Company Limited by Guarantee)

THE PRINT ROOM THEATRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance (continued)

relation to nature.

The exhibition featured an exclusive talk on 30 Jun, chaired by Sussan Babaie , Professor of Islamic and Iranian Arts at The Courtauld Institute of Art.

Infinity by Philip Glass 30 Jun – 1 Jul 2023

Infinity was a deeply moving and personal exploration of the searing complexities of love, parenting, and being parented. The performance at the Coronet marked the European premiere of this mixed media work for the stage with original music by Philip Glass , libretto by Arturo Béjar , and spoken and sung by Tara Hugo.

The live score of new music by Glass was performed by Stephen Higgins (piano) Lavinia Meijer (harp) and a trio from United Strings of Europe , with Julian Azkoul as Director.

Due to exceptional demand, standing tickets were added to the evening performances of Infinity .

Yevgeny Sudbin

3 Jul 2023

Hailed by The Telegraph as “ potentially one of the greatest pianists of the 21st century ”, Yevgeny Sudbin presented a special solo concert in our beautiful auditorium.

Playing a repertoire of Haydn, Debussy, Liszt and many more – this concert provided a unique opportunity to hear the critically acclaimed sensation play live for one night only.

RADA LAB WORKS from RADA’S MA Theatre Lab 19 – 22 Jul 2023

A week-long project combining workshops and scratch nights, and culminating in a series of original ‘theatreshorts’, enabling artistic development, public visibility, and new networking opportunities for emerging artists.

RADA Lab Works was the first project in The Coronet Theatre and RADA’s new partnership.

Rhythm of Human by Ambiguous Dance Company 13 – 15 Sep 2023

Korean dance sensations Ambiguous Dance Company returned to The Coronet Theatre following 2022’s soldout Body Concert with the UK premiere of their award-winning piece Rhythm of Human .

Due to exceptional demand, standing tickets were added to the 15 Sep performance of Rhythm of Human .

Ambiguous Dance Company also hosted a free workshop on 15 Sep.

The Yellow Wallpaper Based on the short story by Charlotte Perkins Gilman 21 Sep – 7 Oct 2023

Page 7

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Achievements and performance (continued)

“Thierrée is an exquisite physical performer ” (The Guardian)

Charlotte Perkins Gilman ’s hugely influential novella was brought to life in a radical new staging, blending theatre, dance, live video and sound.

Directed by Stephanie Mohr ( Youth Without God ), The Yellow Wallpaper was performed by acclaimed actress and theatre maker Aurélia Thiérrée ( Bells and Spells) and dancer and choreographer Fukiko Takase ( See Art Through The Body ). This world premiere united three outstanding Coronet Theatre artists to collaborate, combining the studio and auditorium spaces for the first time.

d. Poetry Events

Poetry Club at the Print Room

Our popular series of contemporary poetry readings continued throughout the year: Poets included: Joelle Taylor, Anthony Joseph, Hannah Sullivan, James Conor Patterson, Jason Allen-Paisant, Malika Booker, Zaffar Kunial, Victoria Adukwei Bulley, Liz Berry, Don Paterson and Nick Laird.

Dead Poets Live

The Dead Poets Live series, in partnership with the TS Elliot Foundation, presents staged readings of work by famous dead poets, undertaken by very well-known actors. The 2022-23 series included:

He Do The Police in Different Voices

20 – 22 Oct 2022

Featuring Lindsay Duncan, Luke Thallon, Toby Regbo and Pearl Chanda.

Shakespeare

11 Jun 2023

Featuring Rory Kinnear and Tamsin Greig.

Financial review

a. Going concern

The charity receives loans and donations from certain trustees to provide it with sufficient funds to enable it to continue as a going concern. The charity has received assurances that such funding will continue to be made available for a period of at least 12 months from the date of signing the balance sheet.

As a result, the trustees consider it to be appropriate to prepare the accounts on a going concern basis.

Page 8

(A Company Limited by Guarantee)

THE PRINT ROOM THEATRE

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

b. Financial review

By 30th September 2023 the charity had enjoyed its ninth full financial year in its new premises, The Coronet at 103 Notting Hill Gate.

The Theatre grossed £230,775 in ticket sales, which although lower than the previous year, was due to shorter runs as previously explained.

At 30th September the Theatre balance sheet showed reserves of £21,655.

c. Fundraising

The fixed costs of the charity and any shortfall on productions have been and will continue to be funded by donations.

Challenges to be addressed next year, include cultivating the new prospects identified and converting them into supporters. Related to this is the need to develop the community outreach scheme for the theatre, which will enable us to make our case for support more compelling and hence convert prospects into supporters, as well as approach new trusts for funding.

The theatre relies on the support of its Chairman, Mr William Winters to make up any shortfall.

d. Reserves policy

The Charity aims to maintain unrestricted and uncommitted funds equal to between three and four months of overheads and salaries and to provide financial cover for contingent situations such as shortfalls in box office or fundraising under achievement. Restricted funding is held for use on specific projects as per the agreement with individual funders. The total reserves at the end of the year stood at £21,665, including free reserves of £3,107.

Structure, governance and management

a. Constitution

The Charity is a charity limited by guarantee governed by its Memorandum and Articles of Association. It was registered as a charity with the Charity Commission on 16 May 2011.

b. Method of appoint or election of trustees

Trustees are recruited with the aim of securing a broad range of skills and experience in the service and development of the Charity’s objects.

c. Policies adopted for the induction and training of Trustees

Trustees receive an induction to the work of the Charity and are encouraged to undertake training where gaps in knowledge and experience are identified and in order to maintain collective expertise in good governance.

Page 9

THE PRINT ROOM THEATRE (A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Structure, governance and management (continued)

d. Remuneration policy for key management

All staff salaries are set with reference to industry standards of remuneration, regularly benchmarked against peer organisations. Performing and creative personnel salaries are set with reference to the Independent Theatre Council’s Ethical Management standards.

e. Organisational structure and decision making

The board of 6 trustees approve all strategic and financial decisions. They delegate the day-to-day leadership of the Charity to Anda Winters – Artistic Director and CEO who works with a senior team on the management of the Charity.

During the year we created a new role of Buildings and Products Co-ordinater.

We continued to employ the casual roles of Duty Manager, Front of House and Box Office Staff on a rolling basis, supported by our Voluntary Ushering Staff programme. We continued to engage a part-time Poetry Coordinator to advise and manage the programming of the poetry events.

Sharon Kean acts as our Press Representative for the company.

Board structure:

The trustees / directors for the period of this report were: the Chairman Bill Winters, Artistic Director Anda Winters, Linda Bernhardt, Mimi Gilligan, Mike Fisher and Jane Quinn.

f. Relationship with Coronet Ondine LLP

The Theatre operates from 103 Notting Hill Gate, London W11 3LB. The building from which it operates is owned by Coronet Ondine LLP. The owners/partners of Coronet Ondine LLP are Mr and Mrs W. Winters who are also Trustees of the Theatre. Rent and a service charges are now being charged by Coronet Ondine LLP, in line with the agreement dated 1st of October 2019.

g. Key risks and risk management

The trustees examine major risks to the organisation as a standing item at their quarterly meeting, during which they confirm the systems that are in place to manage these risks. This is a dynamic assessment updated quarterly. Three areas are considered to be of most significant risk:

Page 10

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Future developments

Business planning is led by the Chief Executive/Artistic Director and the board with the senior staff team. Annual budgets are developed and approved by the board including a clear projection of income and expenditure.

The charity is in the process of updating its financial systems and processes to ensure that it can carry out its planned programme and deliver its obligations effectively.

The artistic programme is set by the Chief Executive/Artistic Director working 12-18 months in advance. Currently planned productions include a Taiwanese festival, which will showcase diverse talent from one of Asia’s less known dynamic cultures

Statement of Trustees' responsibilities

The Trustees (who are also directors of The Print Room Theatre for the purposes of company law) are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and UK Accounting Standards.

Company law requires the Trustees to prepare financial statements for each financial . 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:

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.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

Auditors

The auditors, Goodman Jones LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Page 11

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................

W T Winters

Date: 22-07-24

Page 12

THE PRINT ROOM THEATRE (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE

Opinion

We have audited the financial statements of The Print Room Theatre (the 'charity') for the year ended 30 September 2023 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Page 13

THE PRINT ROOM THEATRE (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE (CONTINUED)

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinion on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report.

We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion:

Page 14

(A Company Limited by Guarantee)

THE PRINT ROOM THEATRE

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE (CONTINUED)

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Page 15

THE PRINT ROOM THEATRE (A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE (CONTINUED)

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Based on our understanding of the charity and sector, we identified that the principal risks of non-compliance with laws and regulations related to sector regulations and unethical and prohibited business practices, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried out. These procedures included:

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

There are inherent limitations in the audit procedures described above and the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.

Other matters

The comparative information presented in these financial statements was not subject to audit.

Page 16

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE (CONTINUED)

Use of our report

This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Julian Flitter (Senior Statutory Auditor)

for and on behalf of Goodman Jones LLP Chartered Accountants 29/30 Fitzroy Square London W1T 6LQ

Date: 23-07-24

Page 17

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2023

Note
Income from:
Donations and legacies
2
Charitable activities
3
Investments
4
Total income
Expenditure on:
Raising funds
5
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2023
£
834,635
270,293
312
1,105,240
1,863
1,061,176
1,063,039
42,201
(40,474)
42,201
1,727		 Restricted
funds
2023
£
50,263
-
-
50,263
-
50,575
50,575
(312)
20,250
(312)
19,938		 Total
funds
2023
£
884,898
270,293
312
1,155,503
1,863
1,111,751
1,113,614
41,889
(20,224)
41,889
21,665		 Total
funds
2022
£
763,243
297,414
7
1,060,664
3,418
1,307,415
1,310,833
(250,169)
229,945
(250,169)
(20,224)

The notes on pages 21 to 35 form part of these financial statements.

Page 18

THE PRINT ROOM THEATRE (A Company Limited by Guarantee) REGISTERED NUMBER: 07034118

BALANCE SHEET AS AT 30 SEPTEMBER 2023

Note
Tangible assets
9
Current assets
Debtors
10
Cash at bank and in hand
Creditors: amounts falling due within one
year
11
Net current assets / liabilites
Total net assets
Charity funds
Restricted funds
12
Unrestricted funds
12
Total funds		 15,273
95,928
111,201
(108,094)		 2023
£
18,558
18,558
3,107
21,665
19,938
1,727
21,665		 15,258
79,537
94,795
(138,639)		 2022
£
23,620
23,620
(43,844)
(20,224)
20,250
(40,474)
(20,224)

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.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................

W T Winters

Date: 22-07-24

The notes on pages 21 to 35 form part of these financial statements.

Page 19

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2023		 2022
£
(164,407)
-
-
(164,407)
243,944
79,537
Cash flows from operating activities
Net cash used in operating activities
Cash flows from investing activities
Dividends, interests and rents from investments
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Cash and cash equivalents at the end of the year
The notes on pages 21 to 35 form part of these financial statements		 2023
£
16,079
312
312
16,391
79,537
95,928

Page 20

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 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.

The Print Room Theatre 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.

The financial statements are prepared in sterling, the functional currency of the Charity, and rounded to the nearest £.

1.2 Company status

The Charity is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.

1.3 Going concern

The Charity is reliant upon loans and donations from one trustee to provide it with sufficient funds to enable it to continue as a going concern. The Charity has received assurances that such funding will continue to be available for a period of at least 12 months from the date of signing the balance sheet. The Trustees therefore believe it is appropriate to prepare the accounts on a going concern basis.

1.4 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.

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.

Investment income, gains and losses are allocated to the appropriate fund.

1.5 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.

Ticket sales are recognised in the period in which the associated performance takes place.

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.

Page 21

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. Accounting policies (continued)

1.6 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. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.

Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at headquarters. 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.

Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.

Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.

All resources expended are inclusive of irrecoverable VAT.

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.

1.8 Tangible fixed assets and depreciation

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, using the straight-line method.

Depreciation is provided on the following basis:

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.

Page 22

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. Accounting policies (continued)

1.10 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.

1.11 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.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.

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 with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2. Income from donations and legacies

Donations
Government grants
Total 2022		 Unrestricted
funds
2023
£
834,635
-
834,635
730,829		 Restricted
funds
2023
£
50,263
-
50,263
32,414		 Total
funds
2023
£
884,898
-
884,898
763,243		 Total
funds
2022
£
742,266
20,977
763,243

Page 23

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

3. Incoming resources from charitable activities

Theatrical Activities
Total 2022
4.
Investment income
Bank interest received
Total 2022
5.
Expenditure on raising funds
Costs of raising voluntary income
Fundraising fees
Total 2022		 Unrestricted
funds
2023
£
270,293
297,414
Unrestricted
funds
2023
£
312
7
Unrestricted
funds
2023
£
1,863
3,418		 Total
funds
2023
£
270,293
297,414
Total
funds
2023
£
312
7
Total
funds
2023
£
1,863
3,418		 Total
funds
2022
£
297,414
Total
funds
2022
£
7
Total
funds
2022
£
3,418

Page 24

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. Analysis of expenditure by activities

Theatrical Activities
Total 2022		 Activities
undertaken
directly
2023
£
858,124
1,071,880		 Support
costs
2023
£
253,627
235,535		 Total
funds
2023
£
1,111,751
1,307,415		 Total
funds
2022
£
1,307,415

Analysis of direct costs

Wages and salaries
Production costs
Marketing
Consultancy
Production wages
Total 2022		 Theatrical
Activities
2023
£
380,203
204,702
117,585
35,850
119,784
858,124
1,071,880		 Total
funds
2023
£
380,203
204,702
117,585
35,850
119,784
858,124
1,071,880		 Total
funds
2022
£
308,249
503,859
111,478
-
148,294
1,071,880

Page 25

THE PRINT ROOM THEATRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

6. Analysis of expenditure by activities (continued)

Analysis of support costs

Depreciation
Rent
Premises costs
Legal & professional
Other costs
Governance - Audit/Independent Examination fees
Total 2022		 Theatrical
Activities
2023
£
5,062
50,400
82,385
33,536
82,244
-
253,627
235,535		 Total
funds
2023
£
5,062
50,400
82,385
33,536
82,244
-
253,627
235,535		 Total
funds
2022
£
5,062
54,600
74,764
36,027
55,582
9,500
235,535

During the year ended 30 September 2023, the Charity incurred Governance costs of £10,000 (2022 - £9,500) included within the table above in respect of audit fees in 2023.

The auditors' remuneration amounts to an auditor fee of £10,000 (2022 - £9,500).

7. Staff costs

Wages and salaries
Social security costs
Other pension costs		 2023
£
347,162
25,297
7,744
380,203		 2022
£
271,940
28,314
7,995
308,249

The average number of persons employed by the Charity during the year was as follows:

Management
Performance		 2023
No.
2
11
13		 2022
No.
3
9
12

Page 26

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

7. Staff costs (continued)

No employee received remuneration amounting to more than £60,000 in either year.

During the year, no employees received redundancy pay (2022: no employees received redundancy pay).

8. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2022 - £NIL) .

During the year ended 30 September 2023, no Trustee expenses have been incurred (2022 - £NIL) .

Page 27

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

9.
Tangible fixed assets
Cost or valuation
At 1 October 2022
At 30 September 2023
Depreciation
At 1 October 2022
Charge for the year
At 30 September 2023
Net book value
At 30 September 2023
At 30 September 2022
10.
Debtors
Due within one year
Trade debtors
Other debtors
Prepayments and accrued income		 2023
£
1,060
308
13,905		 Fixtures and
fittings
£
33,744
33,744
10,124
5,062
15,186
18,558
23,620
2022
£
517
-
14,741
15,258		 Fixtures and
fittings
£
33,744
33,744
10,124
5,062
15,186
18,558
23,620
2022
£
517
-
14,741
15,258
15,273 15,258

At the balance sheet date, an amount totalling £nil (2022: £nil) was owed to the Charity by Coronet Ondine LLP, a Limited Liability Partnership of A and W T Winters, trustees of the Charity, and is included within other debtors due within one year.

Page 28

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

11. Creditors: Amounts falling due within one year

Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income		 2023
£
54,112
27,205
15,867
10,910
108,094		 2022
£
87,971
14,852
18,516
17,300
138,639

At the balance sheet date, an amount totalling £nil (2022: £4,563) was owed by the Charity to Coronet Ondine LLP, a Limited Liability Partnership of A and W T Winters, trustees of the Charity, and is included within other creditors due within one year.

Page 29

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

12. Statement of funds

Statement of funds - current year

Unrestricted funds
General Funds - all funds
Restricted funds
Renovation
T.S. Elliot Foundation
Norwegian Embassy
Dutch Embassy
Swedish Embassy
Italian Institute
Korean Arts
Piano Fund
Sasakawa
Total of funds		 Balance at 1
October
2022
£
(40,474)
19,938
312
-
-
-
-
-
-
-
20,250
(20,224)		 Income
£
1,105,240
-
3,000
5,856
3,868
482
800
31,318
750
4,189
50,263
1,155,503		 Expenditure
£
(1,063,039)
-
(3,312)
(5,856)
(3,868)
(482)
(800)
(31,318)
(750)
(4,189)
(50,575)
(1,113,614)		 Balance at
30
September
2023
£
1,727
19,938
-
-
-
-
-
-
-
-
19,938
21,665

Page 30

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

12. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Renovation
T.S. Elliot Foundation
Artistic
Outreach
Sasakawa Foundation
Korean Culture
British Korean Society
Aline Forie
Dongyang Gozupa
Total of funds		 Balance at
1 October
2021
£
180,992
19,938
6,492
14,623
2,620
5,000
280
-
-
-
48,953
229,945		 Income
£
1,028,250
-
3,000
10,654
-
-
10,420
1,000
6,500
840
32,414
1,060,664		 Expenditure
£
(1,252,336)
-
(9,180)
(25,277)
-
(5,000)
(10,700)
(1,000)
(6,500)
(840)
(58,497)
(1,310,833)		 Transfers
in/out
£
2,620
-
-
-
(2,620)
-
-
-
-
-
(2,620)
-		 Balance at
30
September
2022
£
(40,474)
19,938
312
-
-
-
-
-
-
-
20,250
(20,224)

Page 31

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

12. Statement of funds (continued)

The restricted funds this year related to:

The restricted funds in the prior year related to:

13. Analysis of net assets between funds

Analysis of net assets between funds - current year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2023
£
18,558
91,263
(108,094)
1,726		 Restricted
funds
2023
£
-
19,938
-
19,938		 Total
funds
2023
£
18,558
111,201
(108,094)
21,664

Page 32

THE PRINT ROOM THEATRE

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

13. Analysis of net assets between funds (continued)

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2022
£
23,620
74,545
(138,639)
(40,474)		 Restricted
funds
2022
£
-
20,250
-
20,250		 Total
funds
2022
£
23,620
94,795
(138,639)
(20,224)

14. Reconciliation of net movement in funds to net cash flow from operating activities

Net income/expenditure for the year (as per Statement of Financial
Activities)
Adjustments for:
Depreciation charges
Dividends, interests and rents from investments
Increase in debtors
Decrease in creditors
Net cash provided by/(used in) operating activities
15.
Analysis of cash and cash equivalents
Cash in hand
Total cash and cash equivalents		 2023
£
41,889
5,062
(312)
(15)
(30,545)
16,079
2023
£
95,928
95,928		 2022
£
(250,169)
5,062
-
11,231
69,469
(164,407)
2022
£
79,537
79,537

Page 33

(A Company Limited by Guarantee)

THE PRINT ROOM THEATRE

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

16. Analysis of changes in net debt

Cash at bank and in hand At 1 October
2022
£
79,537
79,537		 Cash flows
£
16,079
16,079		 Interest
Receivable
£
312
312		 At 30
September
2023
£
95,928
95,928

17. Controlling party

The Charity is controlled by the Board of Trustees as a whole, with no individual having overall control.

Page 34

THE PRINT ROOM THEATRE (A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2023

18. Pension commitments

The Charity operates a defined contributions 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 contributions payable by the Charity to the fund and amounted to £7,386 (2022 - £7,827). Contributions totalling £3,195 (2022 - £1,322) were payable to the fund at the balance sheet date and are included in creditors.

19. Related party transactions

During the year, the Charity received donations totalling £780,000 (2022: £664,352) from trustees.

At the balance sheet date, an amount totalling £3,750 (2022: £4,563 was owed to the Charity) was owed by the Charity to Coronet Ondine LLP, a partnership of trustees A and W T Winters, and is included within other debtors due within one year.

The Charity occupies premises at The Coronet in Notting Hill. The property is owned by Coronet Ondine LLP, a Limited Liability Partnership of which A and W T Winters, two trustees of the Charity, are the members. Rent is now being charged as of 1 October 2019 in line with the agreement. Cornet Ondine LLP charged the charity an amount of £131,560 (2022: £127,320) in the year for rent and service charge.

Page 35