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← New Future Collective Ltd

2025-03-31-accounts

New Future Collective Ltd (A company limited by guarantee)

Annual Report and Unaudited Financial Statements For the Year Ended 31 March 20245

Charity number 1153729 Company number 07637172 (England & Wales)

New Future Collective Ltd Annual Report & Financial Statements 2025

The Legends of Them, Royal Court Theatre5

New Future Collective Ltd

Contents

For the Year Ended 31 March 2025

Page
Legal and Administrative Information 4
Report of the Directors (Trustees) 6 to 14
Independent Examiners’ Report 15
Statement of Financial Activities 17
Balance Sheet 18
Statement of Cashflows 19
Notes forming part of the Financial Statements 20 to 28

New Future Collective Ltd

Legal & Admnistrative Information For the Year Ended 31 March 20245

Charity Registration Number 1153729

Company Registration Number 07637172 (England & Wales)

Trustees Jacqueline Adu-Sarkodie Jade Crawford Coles (appointed 17/1/25), Chair Peter Huntley Iqbal Kabir Rowan Lindsay, Treasurer Catherine March, Vice Chair Sarah Needham James Pidgeon Rebecca Wootton Leadership Team Sam Curtis Lindsay (during the year) Joint Artistic Director & CEO Nina Lyndon Joint Artistic Director and CEO Registered office Hackney Showroom & operational address 4 Murrain Road London N4 2BN Bankers Co-operative Bank PO Box 250 Skelmersdale WN5 6WT Independent Examiners Simpson Wreford LLP Chartered Accountants Wellesley House Duke of Wellington Avenue Royal Arsenal London SE18 6SS

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New Future Collective Ltd Report of the Trustees For the Year Ended 31 March 2025

The Trustees of New Future Collective Ltd, operating as Hackney Showroom (hereafter NFC) present their report and. the financial statements for the year ended 31 March 2025. The Trustees are also Directors of the company for the purposes of company law.

STRUCTURE, GOVERNANCE & MANAGEMENT

NFC is a charitable company limited by guarantee, incorporated on 17 May 2011, as amended by certificate of incorporation change of name dated 5 February 2013, as amended by special resolution registered at Companies House on 6 August 2013, and registered as a charity on 9 September 2013.

The charity currently has a board of 9 non-executive Trustees which meets a minimum of four times per year, New Trustees/Directors are nominated by individual Trustees and the Artistic Directors and are approved and elected by the Trustees at their regular meetings. Trustees receive an induction briefing on the activities of the Charity. The Trustees are responsible for the Strategic direction and policy making of the charity. In the financial year under review the Trustees met on 5 occasions.

Detailed written’ Board reports and an agenda are prepared and circulated in advance of meetings.

Further governance arrangements are detailed in the company’s memorandum and articles of association. The Directors of the company are also Trustees of the charity, and are collectively referred to throughout this report as the Trustees.

The Articles of Association provide for a minimum of three and a maximum of fifteen Trustees.

RISK MANAGEMENT

The Trustees of the charity regularly review the major governance, operational and financial risks which the charity faces as part of its annual business planning process.

The Trustees are satisfied that appropriate financial systems and controls are in place to mitigate these risks.

NFC’s risk management strategy comprises:

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AIMS AND OBJECTIVES

Hackney Showroom is a unique hybrid of an award-winning theatre company and a grassroots civic arts venue.

As a home for experimental and genre-defying theatre, we work with innovative artists, offering them a rigorous approach to developing their practice, and collaborate with them on producing new work that changes the landscape of tomorrow’s theatre. We tour work nationally and internationally, working with a myriad of communities to which we offer a warm and refreshing invitation to encounter live cultural experiences that address the problems and possibilities of our times. Our venue on Kings Crescent Estate creates the best conditions for artists and locals to flourish: with a cultural community programme that enriches local people’s lives; and an artist development programme that paves the way for artists to make astonishing and memorable work.

The objects for which the company is established (the “Objects”) are such objects and purposes in any part of the world as are exclusively charitable in accordance with the laws of England and Wales. The Objects are:

OUR VISION

Hackney Showroom’s vision is for thriving communities where people are nourished by theatre and culture and emboldened to build a just future.

OUR AIMS

PUBLIC BENEFIT

The Board of Directors reviews the charity’s aims, objectives and activities each year and with regard to any new project or programme that is proposed. The Trustees have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission when reviewing NFC’s aims and objectives and in planning future activities. In particular, the Board has considered how planned activities will contribute to the aims and objectives they have set.

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Activities & Achievements 2024-2025

In 2024-25 Hackney Showroom re-mounted our award-winning show The Legends of Them, undertook research and development for new artistic projects, launched a new cohort of our Hackney Showroom Young Artists Programme, presented cultural activity across the UK on our touring stage on wheels, the Bobby Dazzler and delivered a yearround programme of cultural community activity on Kings Crescent Estate where we are based.

We increased our multi-year and unrestricted grant funding and grew our team and now operate with a team of 5 permanent and 8 freelance staff.

Throughout the year we engaged a total of 22,449 people in our work - including 342 artists - a 13% increase from last year.

THE LEGENDS OF THEM

Following a critically acclaimed premiere at Brixton House in 2023, winning the Off West End Award for Best Performance Piece, we remounted The Legends of Them by Sutara Gayle, directed by Hackney Showroom Associate Director Jo McInnes at the Royal Court Jerwood Theatre Downstairs in December 2024. The show was another critical success:

⋆⋆⋆⋆⋆ The Stage ⋆⋆⋆⋆⋆ Afridiziak

⋆⋆⋆⋆ Time Out

⋆⋆⋆⋆ Financial Times

⋆⋆⋆⋆ The Times

⋆⋆⋆⋆ WhatsOnStage

⋆⋆⋆⋆ All That Dazzles

⋆⋆⋆⋆ Reviews Hub

⋆⋆⋆⋆ Musical Theatre Review

The show broke the Royal Court record for the number of first time visitors at 84%, with 28% of audiences coming from Brixton and 30% of the show made up of youth groups and group bookings.

SMALL BOATS (WORKING TITLE)

Together with Co-Producers Good Chance Theatre, we commissioned playwright Sonja Linden’s stage adaptation of a 2023 French novel Naufrage by Vincent Delecroix and held 2 development workshops with a cast of 5 actors. The piece, entitled Small Boats is an astonishing, uncompromising work of theatre, at the heart of which is the highly charged interrogation of a French coastguard by her superior officer in the aftermath of a mass drowning. Events become increasingly electrified as the incident is revisited and we begin to question if what we are seeing is a real interrogation at all. Putting accountability under

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THANK YOU FOR YOUR PATIENCE

We spent a week in development for our next show, Thank You For Your Patience by Hector Dyer, directed by our Co-Artistic Director Sam Curtis Lindsay and performed by our Associate Director Jo McInnes.

DOUGHNUT & MOUTH

Our first children’s show, Doughnut & Mouth went into development, co-created by our Artistic Directors Sam and Nina. Performed by Emmanuel Akwafo and Peter Clements, the first outing of a work-in-progress of the show took place on the Bobby Dazzler at our annual street party on Kings Crescent Estate outside our premises. The show was very well received by local families and was accompanied by a sock-puppet making workshop.

LAMDA

We spent a week with LAMDA students workshopping Oisin McKenna’s play Evenings and Weekends in the same week that Oisin’s book of the same title (‘Book of the Summer’ - Dazed) was published and became an instant best seller.

ARTIST DEVELOPMENT

We supported 18 artists throughout the year on the development of their projects.

BOBBY DAZZLER

Our touring stage on wheels the Bobby Dazzler, developed with funding from the Hackney Community Fund, toured the country with programmed rostas of cabaret, dance, theatre and music, including bookings at: the Museum of London, Newham Circus Festival, Curious Festival in Saltburn by the Sea and Hartlepool, Northern Pride in Newcastle, Hackney Carnival, Dance Umbrella at Potters Field and Theatre Royal Stratford East.

HACKNEY SHOWROOM YOUNG ARTISTS

We mounted our 5th cohort of Hackney Showroom Young Artists following an excellent turn out at our audition day. The group worked with Artistic Director Sam and a team of visiting artists and industry professionals over a year towards making and performing their own work next year.

CULTURAL COMMUNITY PROGRAMME

Our year-round programme has had another successful year with our Kids Library Club on Tuesdays, our Soft Play Disco on Wednesdays, the Kings Crescent Youth Club on Thursdays and Lunch Club on Fridays. In addition to the Lunch Club we deliver soup drops and provide a befriending service to local elders. We door knocked quarterly to 550 households on Kings Crescent Estate throughout the year to engage with locals and share our cultural offer.

FOOD BANK

In 2024 we began hosting the Hackney Food Bank outside our premises weekly on Tuesdays. This has grown into a project where we now host tea and coffee and board games for local residents each week. We distribute food bank vouchers and signpost residents where we can to our own projects as well as other services.

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PLANS FOR THE FUTURE

Our award-winning show THE LEGENDS OF THEM returns to the stage in August 2025 for the Edinburgh FEstival Fringe, as part of the HERE + NOW International showcase before embarking on a UK Tour. We will continue development of our works in progress SMALL BOATS (working title) and THANK YOU FOR YOUR PATIENCE and conclude our HACKNEY SHOWROOM YOUNG ARTISTS training programme with our current hohort, culminating in a showcase. We also plan to invigorate our CULTURAL COMMUNITY PROGRAMME with new projects, co-created in partnership with the KINGS CRESCENT TENANTS & RESIDENTS ASSOCIATION. Future plans also include BOBBY DAZZLER and festival commissions.

FINANCIAL REVIEW

The financial model for NFC is to achieve at least a break-even position on each project or programme that is undertaken. Any surplus income from ticket sales or project commission fees is to be used to build up reserves in line with the reserves policy, and to further the charity’s aims and objectives.

In the year 2024-25 income was £479,088 of which £251,364 was restricted and £227,724 was unrestricted. In comparison in the year 2023-24 income was £362,428 of which £117,099 was restricted and £245,329 was unrestricted. Expenditure in 2024-25 was £359,124 of which £141,353 was restricted and £217,771 was unrestricted. In comparison in the year 2023-24 expenditure was £381,045 of which £147,920 was restricted and £231,531 was unrestricted. Included in restricted expenditure was £97,931 of expenditure in relation to grants received in 2023-24. The detailed figures are included in the financial statements. At the year end the charity recorded a surplus for the year of £9,953 on unrestricted funds which, including the unrestricted surplus of £64,979 brought forward from the year 2023-24, left an unrestricted surplus to carry forward of £74,932, including a designated fund of £3,586. The restricted funds held at the 31 March 2025 are £176,748.

The Trustees have the following measures to monitor financial performance:

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STRATEGIC DEVELOPMENT 2024-25

We brought forward £66,737 as restricted grant income to 2024/25. We were also awarded the following grants in the year:

We carry forward £176,748 of restricted grant income to 2025-26:

RESERVES POLICY

NFC is currently dependent on grant funding income and income generated through its events to sustain its activities.

It is NFC’s policy to maintain financial reserves to a level sufficient to ensure that core operations can continue for a period of at least 3 months, which in 2024-25 equated to £55,000. We finished the year with free unrestricted reserves of £74,932, meaning that we enter 2025-26 with more reserves than our target.

SALARIES

We continue to be committed to competitive salaries for our 5 PAYE staff. Pay is reviewed annually, in line with industry organisations of a comparable scale and size. We are an accredited London Living Wage employer.

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TRUSTEES RESPONSIBILITIES

The Trustees, as set out on page 4 are responsible for preparing the Directors’ (Trustees) Report and the financial statements in accordance with applicable law and regulations.

Company law requires the trustees to prepare financial statements for each financial year. Under that law the trustees have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). 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 the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those 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 to 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 hence for taking reasonable steps for prevention and detection of fraud and other irregularities.

GOING CONCERN

The budgets and current management accounts for 2025-26 have been reviewed by the Trustees and the independent examiner, with modelling carried out to include a worstcase scenario. The Trustees consider that the funds already generated in the year, alongside the fund raising and revenue generation plans in place, will be sufficient to cover planned expenditure. Therefore, based on the information available to them at the point of signing of this document it is the Trustees opinion that the organisation can continue to operate as a going concern for the next twelve months.

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INVESTMENT POWERS AND POLICY

Under the memorandum and articles of association, the charitable company has the power to make any investment that the Trustees see fit.

INDEPENDENT EXAMINER

A resolution proposing that Simpson Wreford LLP be appointed as independent examiner of the company has been put to the members and approved.

SMALL COMPANY EXEMPTIONS

This report is prepared in accordance with the provisions of Part 15 of the Companies Act relating to small companies.

Signed on behalf of the Board of Directors (Trustees): Dated:

Jade Crawford Coles

Chair of the Board of Directors

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NEW FUTURE COLLECTIVE LTD INDEPENDENT EXAMINERS’ REPORT TO THE TRUSTEES OF NEW FUTURE COLLECTIVE FOR THE YEAR ENDED 31 MARCH 2025

I report to the charity trustees of the company for the year ended 31 March 2025, which are set out on pages 17 to 28.

RESPONSIBILITIES AND BASIS OF REPORT

As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

INDEPENDENT EXAMINER’S REPORT

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those accounting records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the

examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Signed: Dated:

Kate Taylor FCA

For and behalf of Simpson Wreford LLP, Chartered Accountants Institute of Chartered Accounts in England and Wales Wellesley House Duke of Wellington Avenue London SE18 6SS

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New Future Collective Ltd Statement of Financial Activities For the Year Ended 31 March 2025

New Future Collective Ltd Statement of Financial Activities (including Income and Expenditure Account) For the Year Ended 31 March 2025

The results for the year derive from continuing activities, and there are no other gains or losses other than those shown above.

The notes on pages 20 to 28 form part of these financial statements.

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New Future Collective Ltd Balance Sheet as at 31 March 2025

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

The trustees have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.

The financial statements on pages 17 to 28 were approved by the Trustees on XXX and signed on behalf of the Board of Directors (Trustees): Dated:

Jade Crawford Coles Chair of the Board of Directors

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New Future Collective Ltd Company Number 07637172 (England & Wales) Statement of Cashflows For the Year Ended 31 March 2025

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

1. Accounting Policies

Company Information

New Future Collective Ltd is a company limited by guarantee incorporated in England and Wales and registered as a charity with the Charity Commission. The registered office is Hackney Showroom 4 Murrain Road, Kings Crescent Estate, London, England, N4 2BN

(a) Basis of preparing the financial statements

The financial statements have been prepared in accordance with 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 (FRSI02) (effective 1 January 2019) (Charities SORPFRS 102), and the Companies Act 2006.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in the financial statements are rounded to the nearest £.

The effects of events relating to the year ended 31 March 2025 which occurred before the date of approval of the financial statements by the Trustees has been included in the financial statements to the extent required to show a true and fair view of the state of affairs at 31 March 2025 and the results for the year ended on that date.

The charity 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 note(s).

(b) Tangible Assets

Individual fixed assets costing £1,000 or more are capitalised at cost.

Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life as follows:

Equipment is written off evenly over 3 years.

Motor Vehicles are written off on a reducing balance basis at 25%

(c) Incoming Resources

All incoming resources are included in the Statement of Financial Activities when:

The charity is legally entitled to the funds. Any performance conditions attached to the income have been met or are fully within the control of the charity. There is sufficient certainty that receipt of the income is considered probable.

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

The amount can be reliably measured. Income from performance fees is included in the Financial Statements for the period in which the relevant performance takes place. Grants for core activities are included in the year to which they relate.

Grants from Trusts and Donors are recognised as income in the SOFA in the year in which they are received. Any such income that is received for projects to be undertaken in future periods is carried forward as a restricted fund. The Income and Expenditure account recognises the income applicable to the year’s activities. Interest receivable is included when received by the Charity.

(d) Expenditure

Expenditure is recognised on the accrual’s basis. All costs which can be directly attributable to charitable activities are allocated thereto.

It is not considered that any purpose would be served in apportioning support costs (i.e. overheads, administration expenses and staff salaries) to particular charitable activities, as to do so would be arbitrary and could be misleading.

(e) Fund accounting

Funds held by the charity are either:

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

(e) Taxation

The Company, as a theatre production company, is entitled to claim Theatre Tax credit. As a registered Charity (1153729), it is exempt from taxation on investment income applied for Charitable purposes and from taxation on capital gains. The company is standard rated for VAT. The VAT number is 335811996.

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. The budgeted income and expenditure is sufficient with the level of reserves for the Charity to be able to continue as a going concern.

(g) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due.

(h) 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.

(i) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discount due.

(j) 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.

(k) Significant Accounting Estimates and Judgements

The charity’s estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually. Further information about key assumptions concerning the future, and other key sources of estimation of uncertainty, are set out in the notes.

(l) Pensions

The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

2. Income

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025 3. Income by Activity
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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

4. Expenditure

5. Staff Costs

6. Key management remuneration

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

7. Tangible Fixed Assets

8. Debtors

9. Creditors: Amounts Falling Due within One Year

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

10. Movement in Funds

11. Designated Fund

An £8,500 grant was provided in 2022-23 by London Borough of Hackney, Roadshow Grant, for the purpose of purchasing a new van. A designated fund was created to account for the depreciation charges in future years, £1,195 of depreciation has been allocated this year.

12. Future Commitments

The company entered a 5-year lease from October 2021 to October 2026, future rent commitments as follows:

2025 / 2026 £8,000 per annum

13. Pensions

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension costs and charge shown in Note 5 represents the contributions payable by the company to the fund. The amount owed to the pension fund as at the 31 March 2025 is £850 (2024 – £Nil).

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New Future Collective Ltd Notes to the Financial Statements For the Year Ended 31 March 2025

14. VAT

The charity is registered for VAT and the amount owed to HMRC at 31 March 2025 is £2,562 (2024 – £2,795).

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

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