Backst*2geTrust
ANNUAL REPORT AND ACCOUNTS
FOR THE YEAR ENDED 5 APRIL 2024

Backst*2geTrust
5 April 2024
ANNUAL REPORT AND ACCOUNTS FOR THE YEAR ENDED S APRIL 2024
Le
al and Administrative:
Backstage Trust (Charity Number 11458871 was established under a Trust Deed
dated 30 January 2012.
Trustees:
Dame Susie Sainsbury DBE
Mr David Wood
Mr Dominic Flynn
Trust Administrators:
Ms Helen Cave & Ms Dianne Yeoman
Advisers:
Baroness Genista Mclntosh of Hudnall
Professor lan Ritchie CBE RA
Offlce:
North House
27 Great Peter Street
London
SWIP 3LN
Chari
Number:
1145887
Bankers:
C Hoare & Co
37 Fleet Street
London
EC4P 4DQ
Sollcitors:
BDB Pitmans LLP
One Bartholomew Close
London
ECIA7BL
Auditors:
Crowe U.K. LLP
55 Ludgate Hill
London
EC4M 7JW
Investment Powers:
The Trust Deed empowers the Trustees to appoint investment advisers who have
discretion to invest the funds of the Trust within the guidelines established by the
Trustees.
The objects of the Trust set out in the Trust Deed are for general charitable
purposes.

Backst*2geTrust
5 April 2024
TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024
Backstage Trust was established undera Trust Deed dated 30January 2012 and the Trustees submit their report
for the year ended S April 2024.
Ob"ectives and Sco
e of Grant Makin
Backstage Trust was established in 2012 and continues to focus on encouraging involvement in the performing
arts- particularly theatre and music. Although we are encouraged by the determination of the new government
to support the arts, we are aware that budgetary constraints will make it difficult for the government to bridge
the increasing gap between arts funding and other important areas of support.
We know that the cultural Ilfe of the UK is vital: experlence of participating in, or being exposed to, the
performing arts can have a transformative effect on individuals and communities. The Creative Industries sector
contrlbutes more than £124 billion to the economy each year, but without significant fundlng from the private
philanthropic sector it is struggling to survive, and we are already seeing valuable organisations being forced to
close. Strategically-directed public funding is more crucial than ever, with the industry in a perilous condition. It
will take more than small trusts like Backstage to 5UPPOrt the sector and re-establish a confident and
economically vibrant performin8 arts world for the UK. In addition, the surge of capital projects in theatres and
concert halls in the 19905 leaves US with many theatres functioning in buildings which urgently need renovation
and repair. Failing plant and machinery threaten the viability of a number of venues.
Backstage continues to provide targeted funds for live projects, aspects of capital developments and essential
renovations, and sometimes consultancy to provide strategic guidance, to a wide range of arts organisations.
The Trust aims to respond to viable applications promptly, knowing that many applicants cannot find the funds
to keep running while they wait to hear if an application to a trust has been successful. Although investment in
capital projects is limited, we can sometimes help an organisation to make progress with a scheme by funding
aspects of the work which are critical but lack conventional donor-appeal, for example: funding accessible
toilets, repairing a leakin8 roof, guidance on fund-raising, feasibility studies, replacing worn-out but vital
mandatory equipment.
The Trust has continued to promote and fund schemes which assist the huge community of freelancers who
are self-employed and mostly fall outside any government help scheme. It is incumbent on the government to
presenie this vital sector with sufficient support to allow freelancers to suNive and flourish.
At Backstage, Trustees have found that strategic giving, and In some cases forming an on-going relationship wlth
a grantee, is productive and satisfyin& and importantly can provide small organisations With a measure of
confidence in a very fragile funding environment. Thanks to Backsta8e the Roundhouse has seen over 10,000
young people benefit from the programme5 on offer at Roundhouse Works, there has been a renaissance at the
Royal Court, Leed5 Playhouse has completed its renovation work, the redesign of Theatr Clwyd is almost finished
and we have been able to support projects as diverse as essential new accounting software for the Royal
Academy of Music and award-winning toilets at Watershed in Bristol. A number of these projects would struggle
to find support from the majority of trusts and yet without fully-functioning infrastructure many organisations
may have to close their doors.

Backst*2geTrust
5 April 2024
TRUSTEES, REPORT FOR THE YEAR ENDED S APRIL 2024 (continued)
APPLYING TO BACKSTAGE
Backstage can only make grants to registered charities, Community Interest Companies, or support activities
which have clear charitable aims- the Trust cannot fund individuals directly. The majority of grants awarded
since the Trust was established come under one of the following headings..
Encouraging active participation in the performing arts
Assisting live arts projects (not all in the UK) which encourage community participation, and equality,
particularly in under-represented areas
Providing help with professional development of small and medium-scale arts organisations, helping
encourage diversity and remove barriers
Providing advice on fundraising and helping to create a fundraising strategy
Giving advice on feasibility studies for capital projects, and guidance on project management
Funding elements (particularly the less appealing items) of capital pro.jects
Providing support to the arts, freelance community
Encouraging new writing
Applicants need to demonstrate the vlability of their project clearly, and show that their organisation can
demonstrate good management, and supportive governance, to dellver the project. Trustees will want to see
evidence of a convincing and realistic fundraising strategy. Although Backstage might award fundin& the
applicant need5 to realise that the Trust cannot be regarded as the sole funder of a project, although it may act
as a catalyst to encourage othergrant-giving bodies. Acritical need for most small arts organi5ations- in addition
to enthusiasm, energy and a determination to make a difference
is professional advice. Backstage can
sometimes fund the cost of appropriate consultant advice, allowing an organisation to benefit from help which
would be beyond their means. All applications that meet the funding criteria are considered carefully, and we
aim to provide a response to an application within weeks as we are aware of the financial fragility of many
organisations.
anisatlon
Backstage Trust is a small charity of which Dame Susie is the Settlor and a Trustee. She and her fellow Trustees,
and the Trust advisers, work closely with the Executive Administratorto assess all grant proposals to ensure they
meet the Trust's criteria, and that there are no conflicts of interest. Grant approvals are often agreed between
meetings, but all grants are ratified at the regular formal Trustee meetings and all are made subject to specific
conditions which are monitored throughout. The Trustee5 meet periodically with the advisers to di5CUSS
strategy as well as approved and potential grants, however the advisers have no decision-making
powers. Trustees are appointed by existing Trustees and are provided with relevant information relating to their
responsibilities in that role.
Policles
Reserves Polic
It is the Trustees, intentlon to continue to approve grants annually that exceed the available income. Consequently,
some grants will be met from the Trust's expendable endowment for the foreseeable future and a transfer of
£5,208,406 has been made from the expendable endowment to enable the Trust's commitments to be met. The
Trustee5 regularly review cash flow projections for income and expenditure, to ensure that the level of disposable
net assets is adequate and that the Trust is in a position to meet all its commitments.
Having assessed the Trust's financial position and plans for the foreseeable futu re, the Trustees are satisfied that it
remains appropriate to prepare the f inancial statements on the bas15 that the Trust is sustainable as a going concern.

Backst*2geTrust
5 April 2024
TRUSTEES. REPORT FOR THE YEAR ENDED S APRIL 20241continued)
The Trust's principal source of income is from donations which are added to the expendable endowment fund. The
endowment a55ets of the Trust remain significant, and the Trust will continue to pay out to its beneficiaries in
accordance with the Trust's objectives.
Investment Polic
The Trustees have held significant funds on deposit to enable the Trust to draw on capital when required and the
Trustees meet regularly to discuss strategy and review performance.
Remuneration Poll
Backstage Trust has no employees and therefore no policy is in place.
Rlsk Assessment
The Trustees have examined the major strategic, business and operatlonal risks to which the charity may be exposed.
Adequate systems are in place to manage such potential risks as the Trustees have identified. They continue to keep
processes under review.
The Trustees identified the potentlal mlsuse of funds by a grantee charlty as a significant risk. To mltlgate this risk,
the Trustees normally restrlct grants to charities registered wlth the UK Charity Commission or equlvalent bodies. The
awards are made following a thorough assessment and grants are routinely monltored; multi-year grants are pald
only on receipt of satisfactory progress reports.
The Trustees also identified Ilquidity as constituting a significant risk and this is mitigated by holding sufficient fund5
in cash or near cash to meet expected liabilities as and when they fall. The Trustees regularly review the investment
strategy and cash hold policy.
A final significant risk identified by the Trustees is fraud. This may be possible through the submission of fake or
fraudulent grant applications, incorrect bank detalls on acceptance forms or manipulation of details on the
acceptance form, or collusion amongst member5 of staff. This is mitigated by checks on new applicants with the
Charity Commission to confirm the legitimacy of an organisation, verbal confirmation of any new bank details and
segregation of duties among staff.
Charl
and Public Benefit
The Trustees are aware of the Charlty Commission guidance on public benefit, and confirm that they have complied
with the duty in Section 17 of the Charities Act 2011 to have due regard to it. This report aims to set out information
coveringthe Trust's aims, activities and achievements. The report describes the areas of specific interest tothe Trust.
The benefits provided by these grants can be seen in the professional development of the recipients, and through
them to the public. The charity does not raise funds from the public.
2. Revlew of the Year
During the year, Backstage Trust's primary source of income was two donations from the Gatsby Charitable
Foundation totalling £22,000,000. This increased level of donation reflected Gatsbws ongoing commitment to the
arts and the belief that Backstage will be able to make a significant contribution and impaci during the difficult years
ahead for the sector.
During the year. the trustees approved 150 grants for a total of £5,643,003 and these were awarded for core costs,
production or programme support, support for fund raising and towards capital programmes.
The activities for the year resulted in a net surplus of £16,791,594 and total reserve5 at the year-end amounted to
£20,909,929, which are all part of the expendable endowment

Backst*igeTrust
5 April 2024
TRUSTEES, REPORT FOR THE YEAR ENDED 5 APRIL 2024 (continued)
Grant Makin
The Trustees met twlce during the year to make grants and to review Investments. At the year-end, outstanding
commitments which were entered into duringthe year and not included in the accounts amounted to £116.585 {2023
£40,000) {note 91. As previously mentioned, 150 grants were approved during the year totallin8 £5,643,003, all of
which were made to Art5 Organisations.
oft
eof
roved
Summa
rants a
Grant Type
Capital
Core
Fund raising
Production
Programme Costs
Project
Training Schemes
Number
22
33
14
io
46
24
Amount £
958,082
2,360,114
369,500
114,626
1,248,326
587,355
5,000
5,643,003
150
Selectlon of lar
er
rants a
roved
Grantee
De5criptlon
Core funding
Amount £
English Stage Company {Royal Court
Theatre)
Watermill theatre
500,000
Core funding
Core funding
Travel and accommodation for acting companv
Capital redevelopment
Supporting the Access to the Arts Programme
Stage Directions theatre skills development programme
Little Amal tour of USA
Shakespeare In Schools Programme
Capital grant toward5 The Nest performance space
Implementation of new cloud-based finance management
software
Directors Award Scheme 2024 & 2025
Support for organisational redevelopment
Core funding
Core funding- further grant if conditions are met
Core funding
Core funding
Capital redevelopment funding
Support for role of Fundraising Manager and Production
Manager
250,000
200,000
200,OCQ
200,000
150,000
150,000
150,000
150,000
150,000
142,000
Kiln Theatre
Belarus Free Theatre
Theatre Clwyd Trust Ltd
British Youth Muslc Theatre
The Lowry
The Walk Productions Ltd
Orange Tree Theatre
Chichester Festival Theatre
Royal Academy of Music
Royal Theatrical Support Trust
VIVA Arts & Community Group
Gate Theatre Charity
Gate Theatre Charity
Unicorn Theatre
Bush Theatre
Yvonne Arnaud Theatre Trust
140,000
135,000
loo,000
loo,000
ioo,oTh)
loo.000
I￿,000
84,750
Fuel Productions

Backst*2geTrust
5 April 2024
TRUSTEES. REPORT FOR THE YEAR ENDED 5 APRIL 2024 (continued)
World Heart Beat Music
Funding of the posts of Head of Philanthropy and
Development Administrator
Headlong Origins Programme for early-career directors
Development of The 503Studio- additional grant
Core funding
Creative Associates Programme
80,000
Headlong
Theatre 503
80,1
80,000
80,000
75,000
Papatango Theatre Company
Belgrade Theatre
Future
lans
The Trust will continue to support the activities set out on pages 4 to 5 by award of grants.
Approved by the Trustees on 5th December 2024 and signed on their behalf by:
TRUSTEE

Backst.IgeTrust
5 April 2024
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 5 APRIL 2024
Unrestricted Endowment
Funds
Fund5
Total Funds Total Funds
2024
2023 *
Notes
Income and Endowmerrts from:
Donations and gifts
Investments
Bank Interest received
121,021
389,897
4,843
22,000,LK)0 22,121,021
389,897
4,843
7,107,286
77,439
927
Total Income
515,761
22,000.000 22,515,761
7,185,652
Expenditure:
Charitable actlvltles
Grant-making
Grant related support costs
5,566,418
157,749
5,566,418
157,749
4,067,979
153,554
Total Expendlture
5,724,167
5,724,167
4,221,533
Net (Expenditure)/lncome
15,208,406)
22,000,000 16,791,594
2,964,119
Transfers between funds
5,208,406
{5,208,406}
Net movement In funds
16,791,594 16,791,594
2,964,119
Total funds brought forward
4,118,335
4,118,335
1,154,216
Totsl funds carried forward
20,909,929 20,909,929
4,118,335
See note 4.
The notes on pages 10 to 15 forrn part of these accounts.

Backst*2geTrust
5 April 2024
STATEMENT OF FINANCIAL AcllviTIES
FOR THE YEAR ENDED 5 APRIL 2024
Unrestrlcted Endowment
Funds
Funds
Total Funds Total Funds
2024
2023 *
Notes
Income and Endowments from:
Donations and gifts
Investments
Bank Interest received
121,021
389,897
4,843
22,000,000 22,121,021
389,897
4,843
7,107,286
77,439
927
Total Income
515,761
22,000,000 22,515,761
7,185,652
Expendlture:
Charitable actlvltles
Grant-making
Grant related support costs
5,566,418
157,749
5,566,418
157,749
4,067,979
153,554
Total Expenditu
5,724,167
5,724,167
4,221,533
Net IExpenditure)/lncome
15,208,406)
22,000,000 16,791,594
2,964,119
Transfer5 between funds
5,208,406
{5,208,4061
Net movement In funds
16,791,594 16,791,594
2,964,119
Total funds brought foDNard
4,118,335
4,118,335
1,154,216
Total funds carried forward
20,909,929 20,909,929
4,118,335
See note 4.
The notes on pages 10 to 15 form part of these accounts.

Backst*2geTrust
5 April 2024
BALANCE SHEEr
AS AT 5 APRIL 2024
Notes
2024
2024
2023
FIXED ASSErs
Investments - Term Deposits
16,IX)O,000
16,000,000
CURRENT ASSErs
Short term investments
Cash at bank and in hand
5,640,183
83,080
5,723,263
4,800,285
238,882
5,039,167
UABILITIES
Creditors- amounts fallln8 due wlthin l year
813,334
920,832
NET CURREHf ASSETS
20,909,929
4,118,335
NET ASSErs
20,909,929
4,118,335
THE FUNDS OF THE CHARITY:
Endowment funds
20,909,929
4,118,335
20,909,929
4,118,335
Approved by the Trustees on 5th December 2024 and signed on their behalf by:
TRUSTEE
The notes on pages 10 to 15 form part of these accounts.

Backst*igeTrust
5 April 2024
CASH FLOW STATEMENT
FOR THE YEAR ENDED 5 APRIL 2024
2024
2023
Net Movement in Funds perstatement of Financial Activities
Decrease in debtors
{Decreasel/increase in creditors
Income from Investments
16,791,594
2,964,119
(107,4981
(389,897)
16,294,199
114,956
(77,4391
3,001,636
Net cash received in operating activltles
Cash fiows from Investin8 Actlvlties
Income from Investments
Placement of deposits with more than 3 months maturlty
Net cash lused) In/received from Investing ActlvltSes
389,897
{16,0(Kl,O(K))
115,610,103)
77,439
77,439
Net increase In cash and cash equivalents
684,096
3,079,075
Analysls of the balance of cash as shown In the balance sheet
Chan8e In
year
2024
2023
Cash at bank and in hand
Short term investments
Cash and cash equivalents at the end of the year
83,080
5,640,183
5,723,263
238,882
4,800,285
5,039,167
{155,802)
839.898
684,096

Backst*igeTrust
5 April 2024
NOTES TO THE ACCOUNTS
I. ACCOUNTING POLICIES
The financial statements have been prepared in accordance with the Charities SORP (FRS1021 applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland and the Charities Act 2011 and UK Generally Accepted Practice as it applies from l January
2015.
The financial statements have been prepared to give a 'true and fair view, and have departed from the Charities
{Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and falr view,. This
departure ha5 involved following Accounting and Reporting by Charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FR51021 rather than the
Accounting and Reporting by Charities: Statement of Recommended Practice effectlve from l April 2005 which
has since been withdrawn.
The Trust constitutes a publlc benefit entity as defined by FRSIO2.
Having assessed the Trust's financial position and plans for the foreseeable future, the Trustees are satisfied that
it remains appropriate to prepare the financlal statements on the basls that the charity Is sustainable as a golng
concern.
The Trust's principal source of income is from the endowment fund. The endowment assets of the Trust remaln
significant, and the Trust will continue to pay out to its beneficiaries in accordance with the Trusvs objects.
The principal accounting policies adopted are as follows:
a) Income
(il Income is shown gross which includes the assoclated tax credlt unless the tax so deducted is considered
irrecoverable.
(111 Interest is recorded on an accruals basis.
bl Grants payable
Grants for which there is a le8ally binding commitment are accounted for wlthln the Statement of Flnancial
Activities. Payments that are due within one year of the year-end date are included within grants payable in
the Statement of Financial Activities. Other grants are accounted for in the Statement of Financial Activities
when conditions attaching to the 8rant are fulfilled.
cl Support costs
Most of these costs support the 8rant-making activity of the Trust and are 50 allocated.
dl Charitable activity
The Trustees consider that grant-making is the Trust's sole charitable activity.
el Governance costs
Governance costs cornprise all costs involving the public accountability of the charity and its compliance with
regulation and good practice. These costs include fees for statutory audit and legal fees where relevant.
fl Gift of Staff Time
Individuals employed by Dame Susie provide various services toward5 the running of the Trust. The cost of
their time is ￿cognised as a gift as well as shown as an expense based on an estimate of time incurred by the
staff involved.
10

Backst*2geTrust
5 April 2024
NOTES TO THE ACCOUNTS (continued)
I. ACCOUNTING POLICIES (continued)
81 Funds
Funds represent cash or cash equivalents held with UK banks
h} Financial Instruments
The Trust ha5 finantial assets and financial Siabilities of a kind that qualify as basic financial
instruments. Basic financial instrument5 are initially recognised at transaction value and subsequently
measured at amortised costs using the effective interest method. Financial assets held at fair value
consist of shares, and financial assets held at amortised costs comprise cash at bank and in hand, accrued
interest and other debtors. Financial liabilities held at amortised cost comprise grants payable and
accruals.
At the balance sheet date, the charity held no financial assets at fair value (2023: £Nill, financial assets at
amortised cost of £21,723,263 (2023: £5,039,167) and financial liabilities at amortised cost of £813,334
{2023: £920,832).
51 Critical Accountin8 Judgements and Key Sources of Estimation Uncertainty
n the application of the Trust's accounting policies, which are described in note I, Trustees are required
to make judgements, estimates, assumptions about the carrying values of assets and liabilities that are
not readily apparent from other sources. The estimates and underlying assumptions are based on
historical experience and other factors that are considered to be relevant. Actual results may differ from
these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting
estimates are recognised in the period in which the estirnate is revised if the revision affects only that
period, or in the period of the revision and future periods if the revision affects the current and future
periods.
In the view of the Trustees, no assumptions concerning the future or estimated uncertainty affecting
assets and liabilities at the balance sheet date are likely to result in a material adjustment to their carrying
amounts in the next financial year.
jl Cash and Cash Equivalents
Cash and cash equivalents include cash at bank, cash held for reinvestment and on call deposits.
2. GRANT EXPENDITURE
2024
2023
Reconciliatlon of grants payable:
Commitments at 6 April
Grants approved in the year
Grants approved in prior year
Grants cancelled in the year
Grants not accrued at 5 April
902,766
5,643,003
40,￿)0
790.608
3,404,499
707,980
(4,500)
{40,000)
4,067,979
4,858.587
{3,955,821)
902.766
(116.5851
5,566,418
6.469.184
15,673,739)
795,445
Grants payable for the year
Grants paid during the year
Commitment5 at 5 April due within one year (note 6)
11

Backst*igeTrust
5 April 2024
NOTES TO THE ACCOUNTS Icontlnued)
2. GRANT EXPENDITURE (contlnued)
English Stage Company Limited at the Royal Court Theatre
Watermill theatre
550.000
250,000
200,000
200,000
200,000
200,000
200,000
169,500
150,000
150,CM)O
150,000
140,000
135,000
120,OIJ)
loo,000
loo,000
loo,000
loo,000
100,000
100,000
loo,000
loo,000
89,626
85,000
84,750
80,000
80,000
80,000
75,000
72,800
72,000
65,000
56,800
2,013,922
Belarus Free Theatre
Gate Theatre Charity
Kiln Theatre
The Old Wic Theatre
Theatre Clwyd Trust Ltd
Royal Academy of Muslc
Chichester Festival Theatre
Oran8e Tree Theatre
The Walk Productions Ltd
Royal Theatrital Support Trust
VIVA Arts & Communlty Group
Donmar Warehouse
Bush Theatre
Cardboard Citizens
Jermyn Street Theatre
The Lowry Centre Trust
Theatre 503
Unlcorn Theatre {Caryl Jenner Production51
Youth Music Theatre
Yvonne Arnaud Theatre Trust
Clean Break
Garsln8ton Opera
Fuel Produrtlons
Headlong
Papatan80 Theatre Company
World Heart Beat Music
Belgrade Theatre
Freelancers Make Theatre Work
Mustardseed Trust
Coney Ltd
Klngston Theatre Trust (Rose Theatre)
Grants up to £50,000 were also made1124 grants)
Total Grants Payable
6.469,184
12

Backst*2geTrust
5 April 2024
NOTESTO THE ACCOUNTS (contlnued)
3. ALLOCATION OF SUPPORT COSTS
Charitable Governance
Activity
2024
Total
2023
Total
Bank and Custody fees
Gift of Staff Time
Legal fees
Taxation Fees
Professional fees
Office support costs
Auditors, remuneration
702
121,021
14,098
702
121,021
15,664
480
,755
2,747
8,380
157,749
822
107,286
15,719
1,602
18,676
2,769
6,680
153,554
1,566
480
8,755
2,747
8,380
10,426
147,323
Included above is £15,664 payable for legal services to BDB Pitmans Solicitors12023.. £15,719), a firm In which Mr
Domlnic Flynn is a partner, and £121,021 being the estimated cost of serwlces provided by employees of Dame
Susie (2023: £107,286). No Trustees recelved remuneration or were reimbursed expenses during the year {note
81.
4. STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 5 APRIL 2023
Unrestrirted Endowment Total Funds
Funds
Funds
2023
Notes
Income and Endowments from:
Donations and gifts
Investments
Bank Interest recelved
Total Income
107,286
77,439
927
185,652
7,000,000
7,107,286
77,439
927
7,185,652
7,000,000
Expendlture:
Charitable activitie5
Grant-making
Grant related support costs
4,067,979
153,554
4,067,979
153,554
Total Expenditure
4,221,533
4,221,533
Net IExpenditure}Ilncome
{4,035,8811
7,000,000
2,964,119
Transfers between fu nds
4,035,881 (4,035,881)
Net movement in funds
2,964,119
2,964.119
Total funds brought forward
1,154,216
1,154,216
Total funds carried forward
4,118,335
4,118,335
13

Backst*2geTrust
5 April 2024
NOTES TO THE ACCOUNTS (continued)
5. SHORT TERM INVESTMENTS
2024
2023
Instant access call accounts with UK banks
5,640,183
5,640,183
4,800,285
4,800,285
6. CREDITORS
2024
2023
Grants payable (note 2)
Legal fees
Audit fees
Taxation fees
795,445
10,209
7,680
902,766
9,964
6,500
1,602
920,832
813,334
7. ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestrfcted Expendable
Funds Endowment
Totals
2024
Fund balances at 5 April 2024 are represented by .
Current assets
Current liabilities
Total net assets
813,334 20,909,929 21,723,263
1813,3341
{813,3341
20,909,929 20,909,929
Unrestrlcted Expendable
Funds Endowment
Totals
2023
Fund balances at 5 April 2023 are represented by:
Current assets
Current liabilities
Total net assets
920,832
1920,832)
4,118,335
5,039,167
{920,8321
4,118,335
4,118,335
Unrestrirted Expendable
Funds Endowment
Totals
2024
Movement In the year
Opening balance as at 6 April 2023
Total income and endowments
Charitable activities
Transfers between funds
Closing balance as at 5 April 2024
4,118,335
4,118,335
515,761 22,000,000 22,515,761
15,724,167)
15,724,167)
5,208,406
15,208,406)
20,909,929 20,909,929
Unrestricted Expendable
Funds Endowment
Totals
2023
Movement in the year
Opening balance as at 6 April 2022
Total income and endowments
Charitable activities
Transfers between funds
Closing balance a5 at 5 April 2023
1,154.216
7.0(X),o(K)
1,154,216
7,185.652
(4.221,533)
185,652
14,221,533)
4,035,881
14,035.881}
4,118,335
4,118,335
During the year there was a deficit of income over expenditure on the unrestricted funds of £5,208,40612023:
£4,035,881). This has been funded by a transfer from Expendable Endowment.
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5 April 2024
NOTES TO THE ACCOUNTS (continued)
8. RELATED PARTY TRANSACTIONS
No donations from the Trustees which are subject to Gift Aid were received during the year (2023: £4,000.0001
plus as more fully explained in note 3. the other related party transactions were the payment for legal services by
BDB Pitmans, of whom Dominic Flynn is a partner and services provided by employees of Dame Susie.
9. CONTINGENT LIABILITIES
At 5 April 2024, grants approved amountinB to £116,585 {2023: £40,000) which fall due to be paid more than 12
months after the balance sheet date have not been accounted for as they are subject to conditions that have not
been met at the year-end.
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Backst*igeTrust
5 April 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The Trustees are responsible for preparing the Trustees, Report and the financial statements in accordance with
applicable law and regulations.
Charity law requires the Trustees to prepare financial statements for each financial year in accordance with
Charities SORP IFR51021 applicable to charities preparing thelr accounts In accordan￿ with the Financial Reporting
Standard applicable in the UK and Republlc of Ireland and the Charities Act 2011 and UK Generally Accepted
Practice as it applles from l January 2015.
Under charlty lawthe Trustees must not approve the financial statements unless they are satisfied that they give a
true and fairview of the state of affalrs of the charity and of its net outgoing resources for that period. In preparing
these financial statements, the Trustees are required to:
select suitable accounting policies and then apply them consistently;
make judgments and estimates that are reasonable and prudent;
state whether applicable accounting standards have been followed, subject to any materlal departures
dlsclosed and explained in the financial statements;
prepare the flnancial statements on the 80ing concern basls unless it is inapproprlate to presume that the
charity will contlnue to operate.
The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the
CharIt￿S transactions and disc105e with reasonable accuracy at any time the financlal position of the charlty and
enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responslble
for safeguardin8 the assets of the charity and hence for taking reasonable steps for the prevention and detection of
fraud and other irregularities.
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Backst*igeTrust
5 April 2024
Independent Auditorfs Report to the Trustees of Backstage Trust
Opinion
We have audited the financial statements of Backstage Trust ('the charitw) fortheyear ended 5 April 2024 which
comprise the Statement of Financial Activitie5, the Balance Sheet, the Cash Flow Statement and notes to the
financial statements, including significant accounting policies. The financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standard5, 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:
give a true and fair view of the state of the charity's affairs as at 5 April 2024 and of its income and
expenditure, for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice;
and
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance wlth International Standards on Auditing (UK) (ISAS (UK)) and applicable
law. Our responsibilities under those standards are further descrlbed in the Auditorfs responsibilities for the
audit of the financial statements section of our report. We are independent of the charity In accordance wlth
the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'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.
Concluslons relating to golng concern
In auditin8 the financial statements, we have concluded that the trustee's use of the goin8 concern basis of
accounting in the preparatSon of the financial statements Is appropriate.
Based on the.work we have performed, we have not identified any materlal uncertainties relatlng to events or
conditions that, Indlvldually or collectively, may cast significant doubt on the charity's ability to continue as
going concern for a period of at least twelve months from when the financlal 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.
Other Infomiation
The trustees are responsible for the other information contained within the annual report. The other
information comprises the information included in the annual report, other than the financial statements and
our auditor's report thereon. Our opinion on the financial statements does not coverthe 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 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.
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5 April 2024
Matters on which we are requlred to report by exception
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 requires US to report to you if, in our opinion:
the Information given in the financial statements is inconsistent in any material respect with the trustees,
report; or
sufficient and proper accounting records have not been kept by the charity; or
the financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.
Responslbilities of trustees
As explained more fully in the trustee5' responsibilities statement set out on page 16, the trustees are
responsible for the preparation of the financial statements and for being satisfied that they give a true and falr
view, and for such internal contro5 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 flnancial statements, the trustees are responsible for assessing the charitVs 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 charity or to cease operations, or have no realistic
alternative but to do so.
Auditorfs responsibilities for the audit of the flnancial statements
We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with
the Acts and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free
from material mlsstatement, whether due to fraud or error, and to issue an auditorfs 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 arlse
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.
Details of the extent to which the audit was considered capable of detecting irregularities, including fraud and
non-compliance with laws and regulations are set out below.
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.or
.uk
auditorsres
onsibilities. This description forms part of our
auditorfs report.
Extent to which the audlt was considered capable of detectlng irregularltles, including fraud
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We identified and
assessed the risks of material misstatement of the financial statements from irregularities, whether due to fraud
or error, and discussed these between our audit team members. We then designed and performed audit
procedures responsive to those risks, including obtaining audit evidence sufficient and appropriate to provide a
basis for our opinion.
We obtained an understanding of the legal and regulatory frameworks Within which the charity operates,
focusing on those laws and regulations that have a direct effect on the determination of material amounts and
disclosure5 in the financial statements. The laws and regulations we considered in this context were the Charities
Act 2011 together with the Charities SORP (FRS 102). We assessed the required compliance with these laws and
regulations as part of our audit procedure5 on the related financial statement items.
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BackstigeTrust
5 April 2024
In addition, we considered provisions of other laws and regulations that do not have a direct effect on the
rinancial statements but compliance with which might be fundamental to the charity's ability to operate or to
avoid a material penalty. We also considered the opportunities and incentives that may exist within the charity
for fraud. The law5 and regulations we considered in thi5 context for the UK operation5 were General Data
Protection Regulation {GDPR}.
Auditing standards limit the required audit procedures to identify non-compliance with these law5 and
regulations to enquiry of the Trustee5 and other management and inspection of regulatory and legal
correspondence, if any.
We identified the greatest risk of material impact on the financial statements from irregularities, including fraud,
to be within the override of controls by management. Our audit procedures to respond to these risks included
enquiries of management about their own identification and assessment of the risks of irregularities, sample
testing on the posting of journals, reviewing accounting estimates for biases, reviewing regulatory
correspondence with the Charity Commission and reading minutes of meetings of those charged with
governance.
Owing to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some
materlal misstatements in the financial statements, even though we have properly planned and performed our
audlt in accordance with auditing standards. For example, the further removed non-compliance with laws and
regulations lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely
the inherently limited procedures required by auditing standards would identify it. In addition, as with any audit,
there remained a higher risk of non-detection of irregularities, as these may involve collusion, forgery,
intentional omissions, misrepresentations, or the override of internal controls. We are not responsible for
preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordance with Part4 of the Charities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charity's
trustees those matters we are required to state to them in an auditor's 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 charity and
the charity's trustees as a body, for our audit work, for this report, or for the opinions we have formed.
Crowe U.K. LLP
Statutory Auditor
London
11 December 2024
Crowe U.K. LLP 15 eligible for appointment as audltor of the charity by vlrtue of Its ellgibilityfor appolntment as audltor of a ¢ompany under section 1212
otthe Companies Act 2(X)6.
19