**Company number: 07789006 Charity number: 1145820**
## **THE FACTION THEATRE PRODUCTIONS LIMITED**
**TRUSTEES REPORT & FINANCIAL STATEMENTS FOR THE YEAR ENDED 30TH SEPTEMBER 2020**
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## **THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2020
## **Trustees**
Arend Dikkers, Chair Jane Buddle (Appointed 7 January, 2019) Nosheen Iqbal Sharon Kwan Anne Mayer (Appointed 1 July, 2020) Bryony Mills Isobel Smith (Appointed 1 July, 2020)
## **Artistic Directors**
Mark Leipacher Rachel Valentine Smith
## **Company Registered Number**
No. 07789006
## **Charity Registered Number**
No. 1145820
## **Registered Office**
Stephen Joseph Theatre Westborough Scarborough YO11 1JW
## **Bankers**
HSBC Plc Oxford Circus Branch 196 Oxford Street London W1D 1NT
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## **THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## TRUSTEES’ REPORT
## FOR THE YEAR ENDED 30 SEPTEMBER 2020
The Trustees (who are also the directors of The Faction Theatre Productions Ltd for the purposes of company law) present their annual report together with the financial statements of the Charity for the year ended 30 September 2020. The form and content of the report and financial statements comply with the current statutory requirements, the requirements of the charity’s governing document and the provisions of The Statement of Recommended Practice (SORP), “Accounting and Reporting by Charities” published in March 2005.
## **Structure, governance and management**
## **a. CONSTITUTION**
The Faction Theatre Productions LTD is a company limited by guarantee (company number: 07789006) and a registered charity (number 1145820) and is administered under its Memorandum and Articles. It is not liable to corporation tax on its charitable activities. The liability of the members (who are the directors) is limited to £1 each in the event of winding up.
The principal activity of the charity is that of theatre productions.
## **b. APPOINTMENT OF TRUSTEES**
The Trustees have the power to appoint, with a simple majority, any person to be a Trustee of The Faction who is deemed to have the necessary attributes and expertise to assist with the effective running of the Theatre Company. Trustees are required to retire by rotation every three years.
## **c. POLICIES FOR THE INDUCTION OF TRUSTEES**
People who are invited to join the Board of Trustees usually already have considerable knowledge of the theatrical arts and of The Faction specifically by having visited performances over a long time. In addition to briefing meetings with the Chair, appropriate members of staff, new Trustees are given the necessary information to equip them to take on the role including Minutes of previous Board meetings, Annual Accounts and The Faction public documentation.
## **d. ORGANISATIONAL STRUCTURE AND DECISION MAKING**
All key decisions affecting the direction of The Faction are made by the Trustees.
## **e. RISK MANAGEMENT**
The Trustees have assessed the major risks to which the charity is exposed and are continuing to take steps to ensure that systems are in place to manage the exposure to such major risks.
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## **Objectves and actvites**
## **a. OBJECTIVES AND ACTIVITIES**
## **The objectives of the Charity**
To forge a sustainable business based on a European repertory model of theatre making.
## **Mission statement**
The Faction exists:
- To enrich the lives of its audiences and participants by producing exceptional, accessible and affordable theatre for everyone;
- To encourage and expand knowledge and appreciation of theatre as an art form by offering a varied programme to engage with and close the gap between audience and performance, supplemented through life-long learning and educational projects in the community;
- To discover, encourage and nurture the best young performing talent, particularly from the UK through exceptional “Ensemble Theatre” providing a broad range of emerging artists with training and opportunities.
## **Summary of activity**
The Faction creates performances of classic texts using an innovative contemporary approach.
The Faction was founded in 2008 by Mark Leipacher and became a Charity in 2011. The company is now led by two Artistic Directors Mark Leipacher and Rachel Valentine Smith and supported by a core ensemble of actors and associate artists.
The Faction produces two new productions per year – one directed by each Artistic Director – touring to mid-scale venues. The Faction is also an agile and responsive non-building based organisation comfortable delivering on new and arising opportunities with a dynamic fleet-of-foot approach. The schedule is interspersed with workshops, text sessions and other educational events for our broad audience and for the Ensemble of actors.
## **b. STRATEGY FOR ACHIEVING OBJECTIVES**
1. To produce two high-quality and ambitious theatre productions annually maximising our available resources, delivering an innovative and dynamic repertoire to local, national and international audiences.
2. To find, train and retain actors of the highest possible standard to collaborate in the creative process of The Faction’s signature Ensemble structure.
3. To increase the profile of The Faction, building on our ambitious, award-winning artistic standard and reputation.
4. To expand the length and frequency of theatre productions to provide a more secure financial base, moving from a project-to-project basis, to more full-time operation.
5. To find appropriate venues for The Faction’s style and traditions so as to provide a better experience for actors and audiences alike, ultimately to find, own and manage a venue that can serve as the permanent home for the company.
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
6. To extend our mid-scale touring network and the duration of our national tours whilst continuing to cultivate international opportunities with British Council and other key partners.
7. To enhance and develop the opportunities of Ensemble actors and indeed other actors through The Faction’s unique theatrical workshops.
8. To nurture and enlarge the membership of The Faction, to expand our support base, be they individual benefactors, trusts, foundations or public bodies such as the Arts Council England and to increase our knowledge and understanding of our supporters.
9. To provide increased staffing support necessary to deliver the expanding activities of The Faction and to enhance and maintain administrative efficiency combined with a personal connection to the membership.
10. To carry out risk assessment for all activities so that performances can be carried out as safely as possible and when appropriate to hire external consultants to mitigate the risks (e.g. qualified Theatre Fight instructors).
## **Achievements and performance**
## **8. GOING CONCERN**
After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence in the foreseeable future. For this reason they continue to adopt the going-concern basis in preparing the financial statements. Further details are in the Accounting Policies.
## **9. REVIEW OF ACTIVITIES**
## **Wings of Desire – RnD sessions (January 2020)**
The development of our stage adaptation of Wim Wenders’ 1987 film WINGS OF DESIRE continued, with a new draft of the script by Mark Leipacher workshopped at the National Centre for Circus Arts under the direction of joint Artistic Director Rachel Valentine Smith. The research and development work combined members from The Faction ensemble with specialist circus artists and initial design ideas. The sharing at the end of the week included invited guests from HOME Manchester and York Theatre Royal and was recorded for our other potential co-producers. This promises to be a largescale, artistically exciting, theatrical treat. We now anticipate the full production to take place in our 22/23 season.
## **The Talented Mr. Ripley – mid-scale tour (February - March 2020)**
Following The Faction’s first ever UK festival performance at the Vaults Festival and an extremely successful run at Wilton’s Music Hall, both in 2019, our revival of Mark Leipacher’s acclaimed adaptation of Patricia Highsmith’s thriller opened at Stephen Joseph Theatre Scarborough, where The Faction are an Associate Company, as the start of a mid-scale tour. The Faction also toured to Northern Stage in Newcastle, and Lawrence Batley Theatre in Huddersfield for the first and the production was well-received and these key relationships with venues were developed and enhanced. The production was due to tour to Switzerland for international engagements, but these were abruptly cut short by the coronavirus pandemic.
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## **THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## **Pericles – The Lowry and the Barbican (April – May 2020)**
The biggest effect of the coronavirus pandemic on The Faction’s activity was on the continuing development of our groundbreaking collaboration between artists from Greece, Lebanon, Libya, Syria, Turkey and the UK on a transnational and multilingual production of Shakespeare’s PERICLES. The Libyan unit of the production was due to appear as a ‘rehearsal room in exile’ for the artists displaced by the civil war, as part of the WEEK53 Festival at The Lowry. The following month, the Syrian and Lebanese artists were to join the Libyan artists in the UK for a research and development week hosted by the Barbican – the first time that different units had assembled in the same country. Both The Lowry and the Barbican are exciting new collaborations for The Faction, and the appetite for PERICLES remains intense amongst artists and collaborators alike. It is hoped that the pandemic postpones rather than cancels these development activities.
## **How We Work philosophy (June – September 2020)**
The Ensemble remains at the heart of everything The Faction does: it’s about togetherness and collaboration. During the coronavirus pandemic, where the precariousness nature of freelancers and the relationship between freelancers and organisations were both highlighted, The Faction took time to connect and reconnect with The Ensemble and our associate artists. In addition to providing caring and inclusive spaces for ensemble members to express their concerns about the coronavirus pandemic, particular space needed to made for the care and attention of our Black ensemble members during the flashpoint in the Black Lives Matter movement following George Floyd’s murder, and to our Lebanese ensemble members following the Beirut explosion. In addition to a fundraising event, WORLD WIDE WORDS, in support of the Black Curriculum and the Beirut Theater Relief Group (two organisations selected by our ensemble members), The Faction took time to analyse the way in which we work and to create a series of principles that reflected, renewed and reinvigorated our commitment to being a truly inclusive and anti-racist organisation. Every single structure of The Faction participated in the proposals and the How We Work philosophy now provides a framework upon which The Faction will measure itself going forward in the spirit of positivity and solidarity.
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## **THE FACTION THEATRE PRODUCTIONS LTD**
## **(A company limited by guarantee)**
## **Membership and support**
Our membership support continued to grow and we are extremely grateful to our loyal supporters who donated generously to support our programming. Participating in Give-as-You-Live brings in additional resources.
We are particularly grateful to Arts Council England following our successful project grant for the tour of THE TALENTED MR RIPLEY but particularly, in the wake of the coronavirus pandemic effecting our activity, for the Emergency Relief Fund grant that provided essential income and ensured The Faction’s survival in the most precarious of times.
## **Public Benefit**
In recognising our responsibilities as a charity and in response to the demands of the Charities Act, we record our public benefit activities.
A growing number of people benefit from the increasing reputation of The Faction both directly and indirectly. We are able to allow more people to witness our rehearsals free of charge.
Our ensemble workshops continue to be an on-going element of collaborative teaching and training for our actors.
A growing number of people directly benefitted from employment throughout our productions including actors, creatives (including voice coaches, (fight) choreographers, sound & film creative and digital cameos) and theatre suppliers were paid by The Faction.
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## **Learning and Participation programme**
The Faction continues to offer post-show talks and discussions for audience members around each production to broaden the engagement of our audience members.
We have also enhanced and developed our links with higher education organisations, drama schools and universities. The Faction now consistently supports the **American School in London** , East 15 Acting School at the **University of Essex** , **Syracuse University London** and **University of the Creative Arts** with Shakespeare studies and curriculum with workshops with the Artistic Directors and with members of The Faction’s acting ensemble.
## **10. DEVELOPMENTS FOR THE FUTURE**
Although the coronavirus pandemic has provided distinct challenges, the agility and responsiveness of The Faction has meant that we have the adaptability and creativity to embrace these difficulties as new creative challenges.
- We intend to adapt and revive our series of **solo shows** from the repertoire, as the most safe, secure and responsible way to provide work for our artists and protect audiences and venues alike. The repertoire of nine productions, each performed by a different Ensemble member, will be available as a catalogue of work from which programmers can select their own programme in line with their audiences, social distancing, and government guidelines. This flexibility and adaptability provides a solution to the ‘square peg – round hole’ nature of creating theatre during these extraordinary times.
- Whilst The Faction believes in the accessibility advantages of digital and virtual theatre, many practitioners have far greater expertise and resources in this area. However, The Faction are investigating the possibilities of **filming** and distributing the solo repertoire, or creating a navigable website ‘house’ in which each of the solo performances sits.
- Looking further ahead The Faction intends to sustain and strengthen key relationships with Stephen Joseph Theatre, Shakespeare North, Northern Stage, Lawrence Batley Theatre, The Lowry, The Barbican, HOME and York Theatre Royal and look ahead to the development of a new production: **THE TEMPEST.**
- In addition, the research and development period for **WINGS OF DESIRE** will continue.
- The Faction is also investigating the parameters and possibilities for an organisational development grant from Arts Council England, in order to strengthen the infrastructure of the company and be able to deliver with authenticity and integrity on the Let’s Create strategy with The Faction’s brand of ambitious, dynamic, responsible and inclusive theatre for all.
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## **Financial Review**
## **11. RESULTS FOR THE YEAR**
Income and resources expended are as shown in the Consolidated Financial Statements.
The principal sources of income were donations and ticket income on Charitable Activities.
The Trustees are satisfied with the financial results for the year.
## **12. TRUSTEES' RESPONSIBILITIES STATEMENT**
The Trustees (who are also directors of The Faction Theatre Productions Limited 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 Generally Accepted Accounting Practice.
Company law requires the Trustees to prepare financial statements for each financial year and the Trustees must not approve these statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable group 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 in the Charities SORP;
- Make judgments and accounting estimates that are reasonable and prudent;
- Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable group will continue in operation.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company and the group's transactions and disclose with reasonable accuracy at any time the financial position of the charitable group 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 charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
## **13. DISCLOSURE ON EXEMPTION OF AUDIT**
In preparing this report, the Trustees have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.
For the financial year ending 30th September 2019, the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
This report was approved by the Trustees on 5[th] November 2020 and signed on their behalf by:
Jane Claire OBE Trustee, The Faction Theatre Productions Limited
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## **THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 SEPTEMBER 2020
## **INCOME & EXPENDITURES**
|_Note_
**INCOME FROM**
Donations
_1_
Charitable Activities
_2_
Other Resources
_3_
**TOTAL INCOME**
**EXPENDITURE ON**
Raising Funds
_4_
Charitable Activities
**TOTAL EXPENDITURE**
_5, 6, 7, 8_
**NET MOVEMENT IN FUNDS**
**RECONCILIATION OF FUNDS**
**Total Funds brought forward**
Net Movement in Funds
Of which: Restricted Funds
Of which: Unrestricted Funds
**Total Funds carried forward**
Of which: Restricted
Of which: Unrestricted|**2019-2020**
**£**
**2018-2019**
**£**
**2017-2018**
**£**
61,171
41,376
17,886
39,170
10,558
6,438
3,989
--
22,555|
|---|---|
||**104,329**
**51,934**
**46,879**|
||(1,602)
(3,386)
(255)
(75,774)
(58,408)
(37,644)|
||**(77,376)**
**(61,794)**
**(37,898)**|
|||
||**26,954**
**(9,860)**
**8,981**|
||**5,015**
**14,875**
**5,895**
**26,954**
**(9,860)**
**8,981**
--
(3,500)
3,500
26,954
(6,360)
5,481
**31,969**
**5,015**
**14,875**
**--**
**--**
3,500
31,969
5,015
11,375|
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## **THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## CONSOLIDATED BALANCE SHEET AS AT 30 SEPTEMBER
2020
||**30-Sep-20**|**30-Sep-19**|**30-Sep-18**|
|---|---|---|---|
||**£**|**£**|**£**|
|**CURRENT ASSETS**||||
|Cash at Bank and in Hand|31,969|5,015|14,875|
|**CREDITORS**||||
|Amounts falling due in one year|--|--|--|
|**NET CURRENT ASSETS**|**31,969**|**5,015**|**14,875**|
|**DEBTORS**||||
|Amounts falling due in one year|--|--|--|
|**NET ASSETS**|**31,969**|**5,015**|**14,875**|
|**CHARITY FUNDS**||||
|Restricted Funds|--|--|3,500|
|Unrestricted Funds|31,969|5,015|11,375|
|**TOTAL FUNDS**|**31,969**|**5,015**|**14,875**|
The Trustees consider that the company is entitled to exemption from the requirement to have an audit under the provision of section 477 of the Companies Act 2006 (“The Act”) and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Act. Equally, in accordance with section 145 of the Charities Act of 2011, as the gross income in the year does not exceed £25,000, and as the Trustees have not elected otherwise, the company is exempt from the requirement of an audit by an independent examiner.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and for preparing financial statements which give a true and fair view of the state of affairs of the company as at 30 September 2019 and of its net incoming resources for the year in accordance with the requirements of sections 394 and 395 of the Act and which otherwise comply with the requirements of the Act relating to financial statements, as far as applicable to the company.
The financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
The Financial Statements were approved by the Trustees on 5[th] November 2020 and signed on their behalf, by
Jane Claire OBE Trustee, The Faction Theatre Productions Limited
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
The notes on the following pages form part of these Financial Statements
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2019
## 1. ACCOUNTING POLICIES
## **Basis of preparation**
The financial statements have been prepared under the historical cost convention and in accordance with the Statements of Recommended Practice (SORP), “Accounting and Reporting by Charities” published in March 2005, applicable accounting standards and the Companies Act 2006.
## **Company status**
The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.
## **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 company and which have not been designated for other purposes.
Restricted funds have been donated to the Company during the financial year and are limited in their use to very specific purposes, unless released by the donor.
## **Incoming resources**
All incoming resources are included in the Statement of Financial Activities when the company has entitlement to the funds, certainty of receipt and the amount can be measured with sufficient reliability.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of receipt of the Gift Aid refund by HMRC.
The Company has been able to claim Theatre Tax Relief for productions in the financial year as well as those in previous years.
## **Resources expended**
Expenditure is accounted for on an accrual basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on the basis consistent with the use of the resources.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out by the Artistic Directors. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
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## **THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## **Basis of consolidation**
The Financial Statements consolidate the accounts of The Faction Theatre Productions Limited and all of its subsidiary undertakings (‘subsidiaries’). The Faction Theatre Company Limited was removed from the Company House register during the financial year.
## 1. INCOME FROM DONATIONS
|OME FROM DONATIONS||||
|---|---|---|---|
||**2019-2020**|**2018-2019**|**2017-2018**|
||**£**|**£**|**£**|
|**Donations**||||
|General Donations|22,950|5,032|4,529|
|Friends & Other|--|6,700|9,179|
|Trusts & Foundations|30,428|13,371|500|
|Production Support|5,000|14,550|--|
|Tax Recovery (Gift Aid)|2,988|1,723|3,678|
|**Total**|**61,366**|**41,376**|**17,886**|
During the year, the company received two grants from the Arts Council amounting to £30,428 (2019 – nil)
The Company received a prepayment fee of £5,000 (2019 – nil) from the Lowry Theatre for an event that was cancelled due to Covid. The fee was recorded as Production Support in Income. (see also Note 7 Condensed Cash Flow)
## 2. INCOME FROM CHARITABLE ACTIVITIES
||**2019-2020**|**2018-2019**|**2017-2018**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Charitable Activities**||||
|Ticket Income|37,209|10,558|6,438|
|Learning & Participation|1,961|--|--|
|**Total**|**39,170**|**10,558**|**6,438**|
The company received a Learning fee from the University of Essex of £1,961 (2019 – nil)
## 3. OTHER INCOMING RESOURCES
|HER INCOMING RESOURCES||||
|---|---|---|---|
||**2019-2020**|**2018-2019**|**2017-2018**|
||**£**|**£**|**£**|
|**Other Incoming Resources**||||
|Theatre Tax Relief|3,989|--|22,555|
|**Total**|**3,989**|**--**|**22,555**|
## 4. COST OF GENERATING VOLUNTARY INCOME
||**2019-2020**|**2018-2019**|**2017-2018**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Expenditure on Raising Funds**||||
|Fundraising|(1,095)|(450)|--|
|IT & Website|(702)|(2,936)|(255)|
|**Total**|**(1,797)**|**(3,386)**|**(255)**|
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## **THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
The Company paid for lodging for one donor to attend a Tour performance amounting to £195 (2019 – nil).
## 5. ANALYSIS OF EXPENDITURE BY ACTIVITY
||**2019-2020**|**2018-2019**|**2017-2018**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Expenditure by Activity**||||
|Theatre|(77,376)|(57,004)|(37,238)|
|Learning & Participation|--|(4,790)|(660)|
|**Total**|**(77,376)**|**(61,794)**|**(37,898)**|
The fee received for Learning & Participation was set against Key Member compensation included in Note 8 below (2019 – nil).
## 6. ANALYSIS OF DIRECT & SUPPORT COSTS
||**2019-2020**|**2018-2019**|**2017-2018**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Analysis of Direct Costs**||||
|Performance Fees|(25,200)|(18,118)|(10,823)|
|Production Teams|(2,500)|(4,966)|(4,670)|
|Stage & Technical Staff|(11,086)|(9,131)|(5,170)|
|Technical Equipment|(2,484)|--|--|
|Costumes, Sets, Props|(2,157)|(2,940)|(4,848)|
|Production Admin|--|(900)|(72)|
|Music Hire & Royalties|(4,510)|(2,029)|(460)|
|Transport|(5,303)|(4,043)|(873)|
|Printing & Programmes|(607)|(140)|(541)|
|Facility Rent|(1,896)|(1,595)|(2,229)|
|Public Relations|--|(100)|(2,354)|
|Filming & Photography|(3)|(2,059)|(680)|
|Irrecoverable VAT|--|(1,207)|(737)|
|Sundry|(1,307)|--|--|
|Production Development|(9,410)|(3,820)|--|
|Learning & Participation|--|(4,790)|(660)|
|**Subtotal**|**(66,462)**|**(55,838)**|**(34,118)**|
Production Development costs were entirely for Wings of Desire (2019 - £650 and £3,170 for Hamlet).
Technical Equipment cost were substantially for LX hire & purchase.
The Company no longer accounts for Irrecoverable VAT, which is included in the relevant expenditure.
Sundry Expenditures are for PayPal expenditures which do not allow for proper descriptions.
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## **THE FACTION THEATRE PRODUCTIONS LTD**
## **(A company limited by guarantee)**
|**Analysis of Support Costs**
Fundraising
IT & Website
General Admin
Bank Charges
Staff Costs
Insurance
Governance:
Of which: Accountant
**Subtotal**
NDENSED CASH FLOW
Beginning Cash
Net Operations
Non-Cash Items
Debtors
Creditors
Ending Cash|**2019-2020**
**£**
**2018-2019**
**£**
**2017-2018**
**£**
(900)
(450)
--
(702)
(2,936)
(255)
(400)
--
(18)
--
(10)
--
--
--
(840)
(2,453)
(2,561)
(1,347)
(397)
--
(1,320)
--
--
(1,320)
**(4,852)**
**(5,956)**
**(3,780)**
**2019-2020**
**£**
**2018-2019**
**£**
**2017-2018**
**£**
**5,015**
**14,875**
**5,895**
26,954
(9,860)
8,981
--
--
--
--
--
--
--
--
--|
|---|---|
||**31,969**
**5,015**
**14,875**|
## 7. CONDENSED CASH FLOW
The Company has a verbal commitment to film and provide to a donor a performance of the solo act Last Duchess of estimated costs of £600 (2019- £600).
In the context of Covid, the Trustees have approved payments of up to £500 per month, per Key Member from Unrestricted Funds at unspecified dates, intervals, and unspecified requirements. Because of the unclear nature, the Accounts did not accrue for these costs at the Balance Sheet date (2019 – nil).
The Company received a prepayment fee of £5,000 (2019 – nil) from the Lowry Theatre for an event that was cancelled due to Covid. The fee was recorded as Production Support in Income. The relationship with the Lowry is such that a virtual event may still need to be produced with an estimated cost of £2,000. Due to the unclear nature of Covid and such virtual event, no accrual or provision was made at Balance Sheet date.
## 14. KEY MEMBERS &TRUSTEES
||**2019-2020**|**2018-2019**|**2017-2018**|
|---|---|---|---|
||**£**|**£**|**£**|
|**Key Members**||||
|Artistic Directors|(6,061)|(9,456)|(5,170)|
|**Subtotal**|**(6,061)**|**(9,456)**|**(5,170)**|
During the year, no Trustee received any remuneration or other benefits (2019 - £NIL).
## 15. RELATED PARTY TRANSACTIONS
During the year, no donations including memberships were received from Trustees (2019 - £6,500).
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**THE FACTION THEATRE PRODUCTIONS LTD (A company limited by guarantee)**
## 16. CONTROLLING PARTY
The Faction Theatre Production Limited, having no share capital, is under the control of the Board of Trustees, members of which are also the Directors of the Company.
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