CONEY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
REPORT AND FINANCIAL STATEMENTS
31ST MARCH 2024
REGISTERED NUMBER: 06713686
CHARITY NUMBER: 1156864
Frank Lachman Chartered Accountant 31 Fairview Way Edgware Middlesex HA8 8JE
CONEY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
FINANCIAL STATEMENTS
for the year ended 31st March 2024
| Pages | |
|---|---|
| CONTENTS | |
| Legal & Administrative Information | 1 |
| Report of the Trustees | 2 - 7 |
| Independent examiner's report to the members | 8 |
| Statement of financial activities | 9 |
| Balance sheet | 10 |
| Notes to the financial statements | 11 - 13 |
CONEY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
LEGAL AND ADMINISTRATIVE INFORMATION
31ST MARCH 2024
Company Registered Number
06713686
Registered Charity Number
1156864
Registered Office
Unit 15 Toynbee Studios 28 Commercial Street London E1 6AB
Directors and Trustees
| Phil Clark | Director, Fillip Communications | |
|---|---|---|
| James Clayton | Director, Campbell Johnson Clark | Resigned 3rd July 2023 |
| Annette Corbett | Creative Director, Rough Information | |
| Hannah Davey | Art and Actions Coordiner, Greenpeace | |
| Lydia Hayes | Head of Development, Breath Arts Health | |
| Research | ||
| Sydney Nash | Director/Vice President of Public Affairs, | |
| International Alliance for Responsible Drinking | ||
| Jenna Omeltschenko | Director, Down to Earth | Resigned 18th July 2024 |
| Ben Payne | Director, B&G Partners LLP | |
| Jane Samuels | Access & Equality Manager, The Natural History | |
| museum | Resigned 3rd July 2023 | |
| Simon Michaels | Director of HW Fisher LLP |
Bankers
HSBC 75 Whitechapel Road London E1 1DU
Examiner
Frank S Lachman Chartered Accountant 31 Fairview Way Edgware Middlesex HA8 8JE
Page 1
CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS' AND TRUSTEES' REPORT
for the year ended 31st March 2024
Report of the Trustees
The trustees present their report and financial statements for the year ending 31st March 2024.
The Statutory information on page 1 forms part of this Report.
Structure, governance and management
The Charity was incorporated under the Companies Act 1985 as a company limited by guarantee on 2nd October 2008, and its objects and regulations are governed by its Articles of Association following adoption on 21st March 2014. Company number 06713686. The guarantees of individual members are limited to £1. The Company is a registered charity. Charity number 1156864.
The company directors and charity trustees as of the date of this Report.
Phil Clark Ben Payne Annette Corbett Simon Michaels Hannah Davey Lydia Hayes Sydney Nash
The changes in company directors are shown on page 1 to these accounts.
Directors' responsibilities
Company Law which is also applicable to charitable companies in England and Wales requires the directors, who are also trustees of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the results of the company for that period.
In preparing those financial statements, the directors/trustees are required to:
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select suitable accounting policies and then apply them consistently;
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● ● observe the methods and principles in the Charities SORP;
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make judgements and accounting estimates that are reasonable and prudent;
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state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors/trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company 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 company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to examiner
So far as each director at the date of approval of this report is aware:
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there is no relevant audit information of which the company's examiner is unaware; and
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the directors have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the auditors are aware of that information.
Principal activity and charitable objects
To advance education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.
Membership
The membership of the organisation is now limited to board members only. The current membership of the company is the company directors/charity trustees as listed above.
The trustees have no other interests in the company.
All directors are members of the company and guarantee to contribute to the assets of the company in the event of it being wound up such amounts as may be required not exceeding £1.
Page 2
CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2024
Public benefit
In shaping the Charity, the trustees have considered the Charity Commissions Guidance on public benefit. (Section 4 Charities Act 2006).
The trustees consider that it is appropriate to prepare these accounts on a going concern basis. They are confident that the charity will be able to continue for at least 12 months from the date of this report.
Legal and administrative details
Registered Office
Unit 15 Toynbee Studios, 28 Commercial Street, London E1 6AB
Professional Advisors
Frank S Lachman FCA, 31 Fairview Way, Edgware, Middlesex HA8 8JE
Bankers
HSBC 75 Whitechapel Road, E1 1DU
The accounts comply with the current statutory requirements and with the Articles of Association dated 21st March 2014.
MAKING PLAY TO SPARK CHANGE
Coney’s mission is to spark change through play, always following the principles of adventure, curiosity, and loveliness.
Everything we make is like a gift: to help people play well, and to make their world a little lovelier. From nurturing self-care and resilience for individuals and their immediate communities, to our practice of ‘playful activism’; enabling people to influence the systems and structures beyond, and responding to causes which matter to people.
We are leaders in impact design and interactive dramaturgy. We use accessible, playful comms platforms to centre participants and communities at the heart of each experience. Collaboration and dialogue are at the heart of our work: with audiences, peers, partners, and a network of makers. Responding to research, we adapt our practice and gameplay to codesign formats for impact in many different contexts, including schools, communities, heritage sites and collections, workplaces, public spaces, theatres, and wherever people connect online.
We are BAFTA-winning, listed in Stage 100, and “pushing at the boundaries of theatre and technology” (Lyn Gardner, Stagedoor).
INTRODUCTION TO THIS YEAR’S REPORT
Sydney Nash, Chair of the Board of Trustees:
“Having been unsuccessful in its bid to remain a National Portfolio Organisation in 2023, Coney has transitioned from NPO funding, and undertaken necessary work to identify a new approach to ensure resilience and sustainability in the years to come. Working with the Board of Trustees, Coney has completed a strategic review, sought external advice on fundraising, aimed to sharpen the focus of its activities, and begun the process of reorganising itself internally.
With the external economic environment remaining extremely challenging (in particular for the creative arts sector) there remains much that needs to be done to guarantee Coney’s future success. However, in spite of this, Coney continues to deliver groundbreaking work that wins the plaudits of audiences and reviewers alike.
Page 3
CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2024
OUR WORK IN 2023-24
IN SCHOOLS
We continued to deliver our Primary Schools Programme, principally with our six partner schools in Tower Hamlets, as well as with schools in Bristol and Basildon. The flagship of the programme is the Young Coneys Training Programme - a workshop series that encourages Year 5 pupils to explore their own identities and passions for change, as well as develop key skills of agency, imagination, compassion and resilience. In 2023-24, over 350 young people attended Young Coneys sessions, and approximately 1,000 people were indirectly reached through the sharing of ‘gifts’ created during the sessions - a social impact project designed to benefit the wellbeing of an individual or Community. This year, we introduced a graduation event to conclude the programme, where participants celebrated their stories of change-making with their peers.
“The Young Coneys has given my courage a big fat kick.” Young Coneys participant
The Undercover CareTaker Agency (UCA) is a day-long interactive classroom adventure for Years 3 and 4 sparking conversations on important topics including wellbeing. With UCA Episode 1 now firmly established with our partner schools - directly engaging 420 young people in 2023-24 - we began development for UCA Episode 2, and we devoted time to developing partnerships to further UCA’s reach and impact.
In secondary schools, we delivered the first pilot of The Climate Agency Box , created in partnership with Greenpeace . Over the course of eight sessions, this dynamic and playful learning experience aims to empower secondary school students to develop resilience to eco-anxiety, offering creative tools and games to support students in the crafting of meaningful climate actions within their school community. 56 students from three secondary schools in Tower Hamlets took part in this pilot, creating playful climate actions including a swap shop to tackle the school’s consumption of fast fashion.
- “I realise that I, as an individual, have the power to make change and I should be actively supporting and improving the world
around me.” Climate Agency Box participant from Swanlea School
Outside of our core Schools programme, we were commissioned by A New Direction as part of their I Am Festival to develop a model of our Playful Activism practice tailored for SEND schools, culminating with a sharing at Kensington Palace in March 2024.
“We have never experienced a project quite like our secret agency mission with Coney… [which] seamlessly matched the interests and passions of our pupils.” Elise Robinson from The Queensmill Trust.
IN HERITAGE SITES
Following on from Common Ground: Playtest in 2022-23, Norfolk and Norwich Festival commissioned us again to redevelop one of the games from this project in collaboration with Norfolk Wildlife Trust, called Nature Corridor Protectors . Launched in July 2023, this interactive smartphone adventure invited children and their grownups to explore urban green spaces in King’s Lynn and to learn about the importance of local wildlife.
In February 2024, we began development on a commission from English Heritage , as part of our Playful Heritage Programme, supported by Arts Council England (read more about the programme below). We ran two creative weekends at Marble Hill House in Richmond for a group of local teenagers to learn about the sites’ colonial history, and to develop ideas for a new interactive smartphone game, to be launched at Marble Hill in 2024-25.
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CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2024
IN COMMUNITIES
With funding from the Greater London Authority ’s Stronger Communities Fund, we created The Middlesex Map with users of Artizan Street Library. The map celebrates memories of the area shared by residents of Middlesex Street Estate and Middlesex Street, and offers direction towards places of community, creativity and practical wellbeing support.
In January 2024, as part of Blue Heart - a pilot funded by the Department for Environment, Food & Rural Affairs - we began a six-month programme of playful community engagement in Eastbourne, with the aim of building community resilience in the face of adversity, including flood risk and the cost-of-living crisis.
PUBLIC EVENTS
Following on from an initial research period at Shoreditch Town Hall in January 2023, this year we further developed 1884 , an anti-colonial game-theatre show created with Coney Associate Rhianna Ilube, inspired by the legacy of the 1884 Berlin Conference. This included a work-in-progress sharing as part of Talawa Firsts in July 2023, and two weeks of R&D at Shoreditch Town Hall in October 2024. In August 2023, we received an Arts Council England Projects Grant funding our Playful Heritage programme, exploring innovative interactive theatre formats to engage diverse audiences with colonial history, centred around the premiere run of 1884 in early 2024-25.
We also spent a week of development at the National Theatre Studio in February 2024 for Desire Maps , an interactive mapmaking performance, in collaboration with Projekt Europa.
OUR ENGINE
The engine of our programme is developing playful change-making practice in exchange or sharing with other makers, to better respond to our causes and impacts. It is also about exchanging and teaching practice with other makers and students.
Goethe-Institut London commissioned us to explore the theme of trust in expertise, especially around vaccination, and we developed a suite of games each exploring the buttons, biases and tactics which help build and erode trust. These games were first playtested with a public audience as part of the Now Play This Festival at Somerset House in April, and then delivered in a seminar at the Goethe Institut’s Kultursymposium in Weimar, Germany in May.
“Coney’s innovative approach, delving more deeply into the subject than we anticipated, sparked thought-provoking discussions within our team and the audiences who experienced their games." Francis Christeller, Goethe-Institut London
We continued to work closely in collaboration with higher institution partners. We completed the first phase of work with the University of Bath Spa and audience evaluation specialists Pudding as part of a programme of work funded by the Arts and Humanities Research Council (AHRC) to explore emergent impact over 2023-25. We received two micropilots from the Performing Planet Activism fund at UCL, supporting exchanges between artists and UCL climate researchers - one exploring climate finance architecture, the other looking at sparking playful activism collaborations between staff and students. With the University of Bristol, we began a research practice exchange, developing gameplay for engaging students around digital futures and responsible innovation.
EDUCATION, TRAINING & TALENT DEVELOPMENT
Coney worked in collaboration with a diverse Network of 1,344 artists, makers and other practitioners (increased by 23% since 2022-23). The people we meet in this way range from writers and game designers, to researchers and creative programmers. In 2023-24, we engaged 79 freelancers and 7 employees.
Of those who chose to self-report, 76% of our overall workforce were women or gender expansive people. 70% identified as being of a Global Majority ethnicity, and 37% identified as being from a working-class background. A wide range of LGBTQIA+ identities were represented, totalling 61% of our workforce. 15% of people who worked for us identify as neurodivergent, and 5% as deaf, disabled or as having a long-term health condition.
Page 5
CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2024
In 2023-24, we:
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ran a free programme of workshops, mentoring and placements for eight emerging Global Majority artists; held two free workshops to meet artists local to Tower Hamlets, and we successfully recruited six new facilitators for
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● our Young Coneys Training Programme, with eight of the 12 artists being from Global Majority backgrounds;
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resharpened our EDI action plan, with new processes to better structure and monitor our EDI goals;
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spent over £65,000 on freelance artist and maker fees across our programme;
THE CONEY TEAM IN 2023-24
Coney is powered by a small team at HQ, steered by the Board of Trustees, and deploying a wide network of makers. In 2023-24, Coney HQ comprised:
HQ
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Emily Davis - Producer
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Farah Najib - Marketing & Admin Officer
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Kit Denison - General Manager
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Marie Klimis - Senior Producer
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Rhianna Ilube - Associate Director, Playful Heritage (until May 2023)
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Tassos Stevens - Director | CEO
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Toby Peach - Associate Director, Young People & Families
Following the stepping down of Adam Gallacher as Executive Director and JCEO in March 2023, it was decided not to recruit a replacement immediately, but to wait until the shift in strategic direction clarified the best role, and financial resilience to afford the role. Therefore, Tassos Stevens has become Interim CEO, and one part of a Senior Management Team with Kit Denison and Marie Klimis.
Board of Trustees
Coney has a strong board of Trustees in accordance with its Memorandum & Articles of Association. The Board meets at least four times a year in order to agree company budgets and project plans. Artistic plans are assessed in light of financial, operational and reputational risks and advantages. Individual Trustees assist through the year in an informal capacity, and participate in specialist subgroups, according to their expertise and passions.
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Annette Corbett – Creative Director, Rough Information
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Ben Payne – Director, B&G LLP
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Hannah Davey – Art and Actions Coordinator, Greenpeace
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Jenna Omeltschenko - Director, Down to Earth
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Lydia Hayes – Head of Development and Interim Co-Director, Breathe Arts Health Research
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Phil Clark – Director, Fillip Communications
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Simon Michaels (Treasurer) – Director of HW Fisher LLP
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Sydney Nash (Chair) – Director/Vice President of Public Affairs, International Alliance for Responsible Drinking
Associates:
Arlo Howard, Astrid Breel, Chloe Mashiter, Eve Leigh, Germma Orleans-Thompson, Janisè Sadik, Jess Sanders, Kathryn Beaumont-Evans, Kirsty Harris, Maryam Shaharuddin, Mel Frances, Omar Bynon, Rhianna Ilube and Suzanna Hurst.
Makers in the Guild:
Afreena Islam-Wright, Afsana Begum, Angela Clerkin, Anne Langford, Anne Odeke, Barbara Cala-Lesina, Ben Pacey, Brent Grihalva, Brigitte Adela, Cesía León-Alvarez, David Finnigan, Dinah Mullen, Dom Garfield, Ed Naujokas, Eliza Cass, Ellie Browning, Emma Frankland, Fran Moulds, Gareth Damian Martin, Gary Campbell, Georgia Symons, Georgina Bednar, Harriet Bolwell, Hoda Adra, Jeannine Inglis Hall, Katherine Hurst, Kieran Lucas, Lewis Lloyd, Lexine Lee, malakaï sargeant, Mareika Chirikure, Maz Hemming, Michelle McMahon, Morag Iles, Naomi Stafford, Nathan Charles, Rachel Hosker, Rebekah Murrell, Richard Popple, Rubie Green, Ruth Sutcliffe, Sam Wong, Segen Yosef, Tom Bowtell, Will Drew, Yusra Warsama and Zoe Callow.
Page 6
CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2024
We are grateful to all of our donors and funders in 2023-24:
Friends of Coney: Annette Corbett, Christopher Hong, Edwina Stevens, Jonathan Wakeham, Juliet Desailly, Kat Nilsson, Lydia Hayes, Matthew & Molly Hawn, Paul Groombridge and one anonymous individual.
Trusts, Foundations and other organisations : Artsadmin, Arts and Humanities Research Council (AHRC), Arts Council England, Agile Rabbit, British Council, The Backstage Trust, Canary Wharf Contractors’ Fund, City of London Corporation, English Heritage and Goethe-Institut London.
Going Concern
The trustees confirm that in their opinion it is appropriate to prepare these accounts on a going concern basis .
The trustees are in the process of closing the charity. It is envisaged that the accounts for the year ended 31st March 2025 will be the last ones for the charity.
Independent Examiner
A resolution will be proposed at the Annual General Meeting that Frank Lachman be re-appointed as Independent Examiner to the charity for the ensuring year.
The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2022).
LZ By order of the directors Sydney Nash Director
Dated
Page 7
CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS' AND TRUSTEES' REPORT (continued) for the year ended 31st March 2024
Independent Examiner's Report on the Accounts
I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2024 which are set out on pages 9 to 13.
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 & 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.
Frank S Lachman Chartered Accountant Independent Examiner
31 Fairview Way Edgware Middlesex HA8 8JE
Page 8
CONEY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
STATEMENT OF FINANCIAL ACTIVITIES Including INCOME AND EXPENDITURE ACCOUNT
for the year ended 31st March 2024
| Note Income from: Charitable activities 2 Expenditure on: Charitable Activity Costs 3 Net income/(expenditure) Total Funds brought forward Transfers Total Funds carried forward 9 |
Total Funds Total Funds Restricted Designated Unrestricted 2024 Restricted Designated Unrestricted 2023 Funds Funds Funds Funds Funds Funds £ £ £ £ £ £ 270,156 - 58,761 328,917 10,848 45,000 634,437 690,285 |
|---|---|
| 270,156 - 58,761 328,917 10,848 45,000 634,437 690,285 |
|
| 160,688 - 185,959 346,647 4,389 20,507 613,869 638,765 |
|
| 160,688 - 185,959 346,647 4,389 20,507 613,869 638,765 |
|
| 109,468 - (127,198) (17,730) 6,459 24,493 20,568 51,520 17,828 26,845 80,604 125,277 20,114 17,941 35,702 73,757 - (17,430) 17,430 - (8,745) (15,589) 24,334 - |
|
| 127,296 9,415 (29,164) 107,547 17,828 26,845 80,604 125,277 |
The notes on pages 11 to 13 form part of these accounts.
Page 9
CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
BALANCE SHEET AS AT 31st MARCH 2024
| Note | 2024 | 2023 | |||||
|---|---|---|---|---|---|---|---|
| £ | £ | £ | £ | ||||
| Current assets | |||||||
| Debtors | 6 | 24,306 | 3,418 | ||||
| Cash at bank and in hand | 117,596 | 146,094 | |||||
| 141,902 | 149,512 | ||||||
| Creditors: amounts falling due within one | |||||||
| year | 7 | 34,355 | 24,235 | ||||
| Net current (liabilities)/ assets | 107,547 | 125,277 | |||||
| Total assets less current liabilities | 107,547 | 125,277 | |||||
| Funds | |||||||
| Total Funds | 9 | 107,547 | 125,277 |
For the year ended 31 March 2024 the company was entitled to exemption under section 477(2) of the Companies Act 2006.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for:
i. ensuring the company keeps accounting records which comply with section 386; and ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company.
The accounts have been prepared in accordance with the special provisions in Part 15 applicable to companies subject to the small companies’ regime under Companies Act 2006 and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company.
Approved by the board on and signed on their behalf by Sydney Nash LL Sydney Nash Director
Page 10
CONEY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS for the year to 31st March 2024
1 Accounting policies
(a) 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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Coney Limited 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 notes.
(ii) Income
Income derived from co-production agreements, performance fees and other sales is credited to the Statement of Financial Affairs (SOFA) in the period to which it relates on the basis of entitlement - excluding value added tax. Grants and donations represent amounts from individuals, corporations, trusts and other funding bodies and are credited to the SOFA in the year in which they are expended.
(iii Expenditure
All expenditure is accounted for on an accruals basis excluding value added tax.
Costs are allocated to a category in the SOFA either because such costs are directly incurred in relation to such category, or because they are support costs in respect of which an apportionment has been made between the SOFA categories.
Support costs consist of infrastructure costs for salaries, premises, office administration. Such costs are apportioned on a reasonable and consistent basis to the various SOFA categories with a view to determining, as accurately as possible, the total resources expended for each category. The basis of apportionment used is either a function of staff time applied to a given activity, or an estimate of the proportion of costs associated with the same, or a combination of both.
Direct and Support costs are separately shown by natural classification in Note 4 to these accounts for each SOFA category of cost.
| 2 Charitable Activities Project Grants and Income Goethe-Institute Canary Wharfe Contractors Limited Art Council England Backstage Trust Innovate UK British Council City of London Agile Rabbit Bath Spa Univesity English Heritage Gulbenkian Theatre Other Income Project income Consultancy fees Individual giving Sundry Theatre Tax Relief Bank interest Deferred Grants Carried Forward Deferred Grants Brought Forward |
Restricted Designated Unrestricted Restricted Designated Unrestricted Funds Funds Funds 2024 Funds Funds Funds 2023 3,200 - - 3,200 4,800 - - 4,800 5,000 - - 5,000 - 5,000 - 5,000 140,482 - - 140,482 - - 125,088 125,088 65,000 - - 65,000 - 40,000 - 40,000 - - - - 4,998 - - 4,998 - - - - 2,500 - - 2,500 4,000 - - 4,000 9,878 - - 9,878 21,667 21,667 - - - - 15,000 15,000 - - - - - 2,500 2,500 - - - - - 20,000 20,000 - - - - 3,429 - 38,836 42,265 1,050 - 473,990 475,040 - - 13,050 13,050 - - 11,140 11,140 - - 3,056 3,056 - - 4,154 4,154 - - 1,115 1,115 - - 146 146 - - - - - - 19,251 19,251 - - 2,704 2,704 - - 668 668 - - (22,500) (22,500) (12,378) - - (12,378) 12,378 - - 12,378 - - - |
|---|---|
| 270,156 - 58,761 328,917 10,848 45,000 634,437 690,285 |
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CONEY LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024
3 Analysis of Charitable Activity Costs
| **Restricted ** | Designated | Unrestricted | 2024 | **Restricted ** | Designated | Unrestricted | 2023 | |
|---|---|---|---|---|---|---|---|---|
| Salaries and staffing costs | 76,932 | - | 126,452 | 203,384 | 4,200 | 17,233 | 519,006 | 540,439 |
| Production costs | 77,903 | - | 4,317 | 82,220 | 73 | 2,540 | 19,619 | 22,232 |
| Travel and subsistence | 5,564 | - | 1,478 | 7,042 | 116 | 444 | 8,393 | 8,952 |
| Support costs (Note 4) | 235 | - | 47,758 | 47,993 | - | 251 | 60,080 | 60,331 |
| Governance costs (Note 4) | 54.00 | - | 5,954 | 6,008 | - | 39 | 6,771 | 6,810 |
| 160,688 | 185,959 | 346,647 | 4,389 | 20,507 | 613,869 | 638,764 | ||
| **Restricted ** | Designated | Unrestricted | 2024 | **Restricted ** | Designated | Unrestricted | 2023 | |
| Analysis of Support and Governance costs | ||||||||
| Support Costs | ||||||||
| Employers NI and Pension | ||||||||
| Contributions | - | - | 21,576 | 21,576 | - | - | 22,756 | 22,756 |
| Rent | - | - | 15,152 | 15,152 | - | - | 14,321 | 14,321 |
| Cleaning and maintenance | - | - | 528 | 528 | - | - | 650 | 650 |
| Insurance | - | - | 3,042 | 3,042 | - | - | 2,919 | 2,919 |
| Advertising, PR and marketing | 235 | - | 1,747 | 1,982 | - | 206 | 11,383 | 11,589 |
| Subscriptions | - | - | 1,045 | 1,045 | - | - | 1,520 | 1,520 |
| Printing, postage and stationery | - | - | 266 | 266 | - | - | 761 | 761 |
| Telephone and internet | - | - | 1,092 | 1,092 | - | - | 1,446 | 1,446 |
| Website hosting and development | - | - | - | - | - | - | 45 | 45 |
| IT Support and Software | - | - | 3,310 | 3,310 | - | 45 | 3,661 | 3,706 |
| Consumable equipment | - | - | - | - | - | - | 618 | 618 |
| 235 | - | 47,758 | 47,993 | - | 251 | 60,080 | 60,331 | |
| Governace Costs | ||||||||
| Staff training and welfare | - | - | 3,659 | 3,659 | - | 39 | 4,629 | 4,668 |
| Subndry expenses | 54 | - | 309 | 363 | - | 289 | 289 | |
| Board expenses | - | - | 25 | 25 | - | - | - | - |
| Bank charges and other fees | - | - | 211 | 211 | - | - | 253 | 253 |
| Examiner's remuneration | - | - | 1,750 | 1,750 | - | - | 1,600 | 1,600 |
| 54 | - | 5,954 | 6,008 | - | 39 | 6,771 | 6,810 |
4 Analysis of Support and Governance costs
There were no employees with emoluments above £60,000 in the year. (2023 - none)
During the year the average number of employees was 7. (2023: 7)
5 Directors and trustees' interests
During the year, none of the trustees received any remuneration from the trust and no expenses were paid for or reimbursed to any of them.
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CONEY LIMITED
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL)
NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024
| 7 | Debtors | 2024 | 2023 | |||
|---|---|---|---|---|---|---|
| Trade debtors | 8,621 | 1,888 | ||||
| Accrued income | 15,000 | - | ||||
| Prepayments | 685 | 1,530 | ||||
| 24,306 | 3,418 | |||||
| 8 | Creditors: amounts due within one year | 2024 | 2023 | |||
| Trade creditors | 12 | 1,277 | ||||
| Taxes | 8,119 | 5,224 | ||||
| Deferred grants | 22,500 | 12,378 | ||||
| Accruals | 2,410 | 4,068 | ||||
| Other creditors | 1,314 | 1,288 | ||||
| 34,355 | 24,235 | |||||
| 9 | Reconciliation of movements | |||||
| in members funds | **Designated ** | Unrestricted | Restricted | 2024 | 2023 | |
| Income | - | 58,761 | 270,156 | 328,917 | 690,284 | |
| Expenditure | - | (185,959) | (160,688) | (346,647) | (638,764) | |
| Opening funds | 26,845 | 80,604 | 17,828 | 125,277 | 73,757 | |
| Transfers | (17,430) | 17,430 | - | - | - | |
| 9,415 | (29,164) | 127,296 | 107,547 | 125,277 |
The above funds are represented by net current assets
Restricted Funds comprise
| Goethe-Institute Art Council England Backstage Trust British Council City of London Agile Rabbit Bath Spa Univesity Canary Wharfe Contractors Limited |
2024 2023 2,207 - - 5,000 43,970 - 45,383 600 - 2,500 9,928 9,728 10,820 - 14,988 - |
|---|---|
| 127,296 17,828 |
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