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2023-03-31-accounts

Registered Charity number: 1161320

ARDENT THEATRE COMPANY (A Charitable Incorporated Organisation)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

CONTENTS

Page
Reference and administrative details of the charity, its trustees and advisers 3
Trustees' report 4 - 12
Independent examiner's report 13 – 14
Statement of financial activities 15
Balance sheet 16
Notes to the financial statements 17 – 26

PAGE 2

REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2023

Trustees

Mr Saleem Fazal Ms Jacqueline Hilary Ms Rebecca Hunt – Chair Mr Thomas Mason Ms Andrea Ortiz

Charity registered number

1161320 Registered office

39 Cavesson House, 2 Ribbons Walk, London E20 1AZ

Creative Directors

Andrew Muir and Mark Sands

Independent Examiner

Mr J M Moreno FCCA

Bankers

The Co-operative Bank

PO Box 250, Skelmersdale WN8 6WT

PAGE 3

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

The Trustees present their annual report together with the financial statements of Ardent Theatre Company for the year ended 31 March 2023.

Since the charity qualifies as small under section 383, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.

1. OBJECTIVES AND ACTIVITIES

a. Objectives

Increase representation of the outsider voice

Remove barriers that prevent access to theatre

Increase equity of opportunity within the industry

Ensure Ardent Theatre Company’s long-term future

b. Strategies for achieving objectives

Our Vision

Ardent Theatre Company exists to make theatre a place where no one feels like an outsider.

Our Mission:

We achieve this through the stories we choose to tell, the people we employ to tell them and the audience we engage to experience them.

We produce newly commissioned plays or an existing text with a contemporary relevance and deliver events, workshops, and online content to cater for those who feel they are

PAGE 4

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023

excluded from the positive enrichment theatre can bring, both on stage and in the audience.

We facilitate a voice within the cultural sector on a national level to support actors and writers from deprived backgrounds and we ensure underrepresented audiences see their lived experiences reflected on stage.

We place collaboration at the heart of everything we do, working with artists, practitioners, participants, companies and venues, and partners outside the culture sector such as HE institutions, trade unions, other charities, and communities relevant to each activity.

We make the most difference when we focus on dismantling socio-economic barriers that form the shared experience many actors, writers and audiences feel of being the outsider; barriers that involve multiple factors such as perceived disability, ethnicity, sexuality, gender, age, location, and education.

We achieve this difference by:

Our Values

We believe theatre should be for everyone, irrespective of their background or economic circumstances. We believe artists deserve fair pay based on industry-recognised rates. We believe theatre can be a vehicle for change, where we challenge or deepen our understanding of the world.

We believe in bringing outsiders in.

c. Activities for achieving objectives

ARDENT PRODUCTIONS: A combination of pop-up, quick responsive theatre performance and longer runs of plays both newly commissioned writing and existing texts with a contemporary relevance.

ARDENT8: An 18-month early career development programme offered to 8 recent acting graduates from colleges of Higher Education based outside of London. The programme consists of workshops with industry professionals, a professionally paid public performance and ongoing career mentoring.

PAGE 5

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)

ARDENT VOICES: A platform for creatives to have a voice consisting of live and recorded conversations with industry professionals, digital performance, commissioned blog opinion pieces and play readings of texts that are new, forgotten or worthy of being revisited.

ARDENT RESOURCES: Creative Resources is an online information hub of downloadable guidance, industry insights, hints, tips and advice to help early career artists build their own creative toolkit as they embark on their careers. Audience Resources consists of online material and links that give a deeper insight into the themes and ideas behind the plays we produce.

ADVOCACY: Using our own voice to advocate change through participation in panel discussions, events, advice sessions and writing opinion pieces for various industry publications

d. Main activities undertaken to further the charity's purposes for public benefit

Our overall aim is to create a high-quality theatre experience that is affordable, relevant and representative of audiences and topics that might be considered underrepresented in the current theatre landscape.

We offer affordable ticket price options through targeted discount codes and concession rates for audiences so that finance is not a barrier to accessing high-quality theatre. There are also projects and performances that are entirely free for audiences to access, including making use of digital technology to provide material online.

We are committed to ensuring people from a diverse range of backgrounds and experiences create the work, and that their stories are represented on stage. In our role as facilitator on each project we are able to ensure we bring together the best possible choices and represent diversity.

We are committed to nurturing new emerging artistic talent. We do this through a casting policy where each production includes at least one person who has graduated within the last 2 years.

2. ACHIEVEMENTS AND PERFORMANCE 2022-23

2022-23 was a significant year for Ardent in which we doubled our turnover, secured our first 3-year funding commitment from the Paul Hamlyn Foundation, introduced Creative Director salaried posts, recruited new Ardent8 participants from Manchester, Leicester, and Bournemouth & Poole, and secured our first 4-week run (for 2023-24) in the large space at the renowned Southwark Playhouse Borough theatre in London.

PRODUCTIONS

In April 2023, rehearsals began for our production of STRIKE! by Tracy Ryan and directed by Kirsty Patrick Ward in preparation for a run in the large space at Southwark Playhouse Borough from 13[th] April to 6[th] May 2023.

PAGE 6

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)

STRIKE! began life in 2015 at the Park Theatre when we held the first of several rehearsed public readings of the play as part of our script development and fundraising process to bring it to full production. The play marked a significant step up in terms of scale and venue size (224 seats per night) with a cast of 13 actors (10F, 3M), 4 of which were brought over from Ireland and 5 were recent graduates within the last 3 years.

ARDENT8

We completed work with our 2nd cohort of 8 graduate actors from Bournemouth & Poole College as part of our 18-month career development programme with two final workshops:

Jul 2022 Acting for screen led by Des Fleming at Mountview Academy of Theatre Arts. Aug 2022 Career mentoring from actor Mark Rose.

In November, our 3[rd] cohort of 8 participants, expanded to include graduates from Manchester Metropolitan University and De Montfort University Leicester, took part in the following workshops:

Sep 2022 Introduction to the programme led by Ardent’s Andrew Muir Oct 2022 Theatre Audition workshop with casting director Nadine Rennie Nov 2022 Screen Audition workshop with casting director Ben Cogan Voice workshop with voice coach Jessica Higgs Feb 2023 Improvisation workshop with director Dan Bailey

Mar 2023 Headshot photos with Jimmy Lee Photography Equity union meeting with Karrim Jalali

ARDENT VOICES

We continued our series of online blog opinion pieces reflecting on various aspects of the industry with contributions from Juan Carlos Gouveia (Hypnotherapist, consultant and coach), Martin Daniels (actor), Jenny Sealey (Artistic Director of Graeae), Gary Donaldson (Business Manager), and Victoria Clark (Arts practitioner and lecturer), as well as penning our own blogs about arts funding, levelling up and the barriers facing acting graduates from outside of London.

ARDENT RESOURCES

For Creatives

We added two new resources to our online guidance to support early career artists:

PAGE 7

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)

Since launching the project, we have seen others follow our lead and set up their own online support for early career artists. We decided to pause the development of our own resource to review how we can best address topics not covered by others and complement existing online guidance.

For Audiences

We were awarded National Lottery Heritage Funds to deliver an educational legacy project inspired by our production of STRIKE! about the Dunnes Stores anti-apartheid strike that took place in Dublin 1984-87. Focusing on the British Anti-Apartheid Movement in the 80s, the project consists of:

12 volunteers were recruited from the University of East London and City University who took part in 2 workshops in March 2023: one on interviewing technique led by oral historian Rib Davis, and on one on interview filming led by cameraman and editor Eddie Stephens.

1 additional volunteer, identified through the recruitment process, joined the production of STRIKE! as an Assistant Director.

The project will be completed by the end of December 2023.

ADVOCACY

In June, Ardent’s Mark Sands and ARDENT8 participant Jack Dunford led a series of workshops at Exeter College as part of their Career’s Day for students about to graduate and thinking about next steps. The workshops explored options, preconceptions and barriers that performing arts students might encounter when thinking about their careers.

Ardent joined the Independent Theatre Council as an Ethical Manager and signed an agreement with the Equity union committing to sustainable theatre-making practices as part of a plan to achieve at least Baseline level in the short-term outlined in the Theatre Green Book, and Intermediate level in the long-turn.

ORGANISATIONAL DEVELOPMENT

The Paul Hamlyn Foundation awarded Ardent a 3-year unrestricted grant of £48,000 per year starting January 2023 to establish our first Creative Director salaried posts, with both directors working 2-days per week and rising to 3-days per week from April 2023.

PAGE 8

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)

This significant milestone moved the charity from the project-to-project model it has been operating for the last 8 years, during which time the Creative Directors worked on a mostly voluntary basis.

OUTPUTS

For the year 2022-23, we delivered the following:

3. FUTURE PLANS

In 2023-24, we will launch a 5-year manifesto that sets out plans to scale up and best achieve our vision. During the 2023-24 year, we plan to deliver the following activities:

We will also be raising funds to take STRIKE! on tour across the UK and Ireland in 202425 to mark the 40[th] anniversary of the Dunnes Stores anti-apartheid strike that took place in Dublin between 1984 and 1987.

4. FINANCIAL REVIEW

a. Review of Charity’s financial position

In 2022-23, we achieved a record turnover of £234,472 compared to £103,485 in 2021-22.

PAGE 9

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)

We received a 3-year commitment of £48K per year from the Paul Hamlyn Foundation starting in January 2023 as an unrestricted grant towards core costs and our first salaried posts.

We secured the additional following funds for our production of STRIKE!:

We also raised £29,217 in donations for STRIKE! via our bespoke Big Give matched funding campaign, which attracted additional Gift Aid of £5,311. The production also attracted Theatre Tax Relief of £32,894.

We received £33,483 (50% of the grant) from the National Lottery Heritage Fund for our legacy project inspired by STRIKE!.

We received a £5,000 grant from the Grocers’ Charity for ARDENT8 workshops.

Ardent ended the year with a net surplus of £154,361 of which:

b. Reserves Policy

The trustees determine the level of reserves to be held, depending on the requirements of different funding bodies. The policy is to maintain a reserve fund equivalent to 3 months operating costs plus 10%.

The trustees have designated an additional £25,000 to be held in unrestricted reserves to mitigate potential annual cash flow risks.

c. Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

PAGE 10

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued)

d. Funding of charitable activities

Funding of activities continues to be from Trusts, Foundations, grant givers, private donations and Theatre Tax Relief.

e. Investment policy and objectives

Under the Memorandum and Articles of Association the charity has the power to make any investment which the trustees see fit.

f. Deficit

There are no funds or subsidiary undertakings that are materially in deficit.

g. Risk Management

The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the operations and finances of the charity, and are satisfied that systems and procedures are in place to mitigate our exposure to the major risks. Employer's and Public Liability Insurance is in place to mitigate certain risks.

e. STRUCTURE, GOVERNANCE AND MANAGEMENT

a. Constitution

The charity's objects and regulations are governed by its memorandum and articles of association and the Charity Commission registered its charitable status on 17 April 2015.

b. Recruitment, appointment or election of trustees

The recruitment and appointment of new trustees is made by the Board. An initial induction comprises information on the format of the company; policies of the charity; provision of Charity Commission publications on trustee responsibilities and effective stewardship and provision of publications for new trustees from online sources such as the National Council for Voluntary Organisations.

c. Organisational structure and decision making

The Board of Trustees, which meets quarterly, administers the charity. At least one core team representative (Andrew Muir and Mark Sands) responsible for the day-to-day running of the charity attend all Board meetings. Ms Rebecca Hunt was appointed Chair of the Board on 19[th] November 2018.

A Finance Sub-Committee made up of 2 trustees meet quarterly prior to each board meeting to scrutinise and approve budgets, and make their recommendations to the rest of the board on financial matters.

PAGE 11

TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued) d. Related partles At each Board meeting, the Tnjstees are required to declare any interest in the business of the company so that consideration can be given as to whether any conflicts might arise. During the yèar, no such interests were declared. e. Members. liabillty The Members of the charity guarantee to contribute an amount not ex￿edIng £1 to the assets of the charity in the event of winding up. This report was approved by the Trustees on 22107123 and signed on their behalf by.. Rebecca Hunt. Chair PAGE 12

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF ARDENT THEATRE COMPANY

I report on the financial statements of the charity for the year ended 31 March 2023, which are set out on pages 15 to 26.

This report is made solely to the charity's Trustees, as a body, in accordance with section 145 of the Charities Act 2011 and regulations made under section 154 of that Act. My work has been undertaken so that I might state to the charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body, for my work or for this report.

RESPECTIVE RESPONSIBILITIES OF TRUSTEES AND EXAMINER

The Trustees, who are also the directors of the company for the purposes of company law, are responsible for the preparation of the financial statements. The Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the Act) and that an independent examination is needed. The charity's gross income did not exceed £250,000 and I am qualified to undertake the examination by being a qualified member of the Chartered Association of Certified Accountants.

Having satisfied myself that the charity is not subject to audit under charity or company law and is eligible for independent examination, it is my responsibility to:

BASIS OF INDEPENDENT EXAMINER'S REPORT

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the financial statements presented with those records. It also includes consideration of any unusual items or disclosures in the financial statements, and seeking explanations from you as Trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the financial statements present a 'true and fair view' and the report is limited to those matters set out in the statement below.

PAGE 13

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2023 (continued) INDEPENDENT EXAMINER'S STATEMENT In connection with my examination, no matter has come to my attention: (l)which gives me reasonable cause lo believe thal in any material respect the requirements.. to keep accounting records in accordance with seclion 386 of the Companies Act 2006; and to prepare financial statements which accord with the accounting records and comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practi￿. Accounting and Reporting by Charities have not been met., or (2) lo which, in my opinion. attention should be drawn in order to enable a proper understanding of the financial statements to be reached. Signed.. Dated: Mr J M Moreno FCCA SME Tax 39 Leigh Road Cobham Surrey KTII 2LF PAGE 14

STATEMENT OF FINANCIAL ACTIVITIES INCORPORATING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2023

Unrestricted Restricted Total Total
Funds Funds Funds Funds
2023 2023 2023 2022
£ £ £ £
Note
INCOME FROM:
Charitable activities 2 88,106
146,366
234,472
103,485
Investments 5 -
-
-
-
TOTAL INCOME 88,106
146,366
234,472
103,485
EXPENDITURE ON:
Charitable activities 6 20,313 114,671
134,984
86,099
TOTAL EXPENDITURE 20,313
114,671
134,984
86,099
NET INCOME / (EXPENDITURE)
BEFORE TRANSFERS 67,793
31,695
99,488		 17,386
Transfers between Funds 13 -
-
-
-
NET MOVEMENT IN FUNDS 67,793
31,695
99,488		 17,386
RECONCILIATION OF FUNDS:
Total funds brought forward 14,407
40,466
54,873
37,487
TOTAL FUNDS CARRIED FORWARD 82,200
72,161
154,361
54,873

All activities relate to continuing operations.

The notes on pages 17 to 26 form part of these financial statements.

PAGE 15

BALANCE SHEET AS AT 31 MARCH 2023 2023 2022 No¢e FIXED ASSETS Tangible assets CURRENT ASSETS Debtors Cash at bank and in hand 11 32,894 125.480 158,374 5,246 49,937 55.183 CREDITORS: amounts falling due within one year 12 4.013 310 NET CURRENT ASSETS 154,361 158,064 54,873 54,8T3 NET ASSETS CHARITY FUNDS Restricted funds Unrestricted funds- Designated Unrestricted fvnds- General Fund 13 72,161 25.0fy) 57,200 40,466 14,407 TOTAL FUNDS 154,361 54,873 The Trustees consider that the charity is entitled to exemption from the requirement to have an audit under the provisions of Section 477 of the Companies Act 2006 (Ihe Act") and members have not required the charity to obtain an audit for the year in question in accordance with section 476 of the Act. The Trustees acknowledge their responsibilities for comptying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements were approved by the Trustees on 22J07123 and signed on their behalf, by- Rebecca HunL Chalr The notes on pages 17 to 26 fotm part of these financial siatements. PAGE 16

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

1. ACCOUNTING POLICIES

1.1. Basis of preparation of 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 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The charity has taken advantage of the disclosure exemption, otherwise requiring a Statement of Cash Flows, as permitted by Update Bulletin 1.

Ardent Theatre Company 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.

1.2. Reconciliation with previous Generally Accepted Accounting Practice

In preparing these accounts, the Trustees have considered whether in applying the accounting policies required by FRS 102 and the Charities SORP FRS 102 the restatement of comparative items was required.

No material restatements have been identified as being required.

1.3. Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

PAGE 17

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

1. ACCOUNTING POLICIES (continued)

1.4. Income

All income, including grants, is recognised once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably. No amounts are included in the financial statements for services donated by volunteers.

Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

1.5. Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

1.6. Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.7. Taxation

The charity is exempt from corporation tax in respect of income to the extent that such income is applied exclusively to charitable purposes.

PAGE 18

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

1. ACCOUNTING POLICIES (continued)

1.8. Debtors

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

1.9. Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10. Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.11. Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are recognised at transaction value and subsequently measured at their settlement value.

PAGE 19

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

2. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES - ANALYSIS BY ACTIVITIES

Productions
Ardent8
Ardent Voices
Ardent Resources
Ardent Advocacy
Core
Total 2022		 Unrestricted
Funds
2023
£
5,316
0
780
100
736
81,174
88,106
10,399		 Restricted
Funds
2023
£

107,883

5,000

-

33,483

-

-

146,366
93,086		 Total
Funds
2023
£

113,199

5,000

780

33,583

736

81,174

234,472
_103,485 _		 Total
Funds
2022
£

31,834

31,246

675

877

-

38,853

103,485

3. ANALYSIS OF INCOME FROM CHARITABLE ACTIVITIES BY TYPE OF INCOME

Total Total
Funds Funds
2023 2022
£ £
Box office and similar income -
1,906
Grants 159,855
70,000
Project Fees 736
-
Donations incl Gift Aid 34,527
26,333
Sponsorship 5,300
-
Theatre Tax Relief 34,054
5,246
234,472
103,485

PAGE 20

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

4. GRANTS RECEIVABLE

Arts Council Funding – Project Grant
Arts Council Funding – Culture Recovery Fund ERS
ATG Productions Ltd / Ian McKellen Producer Grant
Cockayne - Grants for the Arts / The London Community Foundation
The D'Oyly Carte Charitable Trust
The Foyle Foundation
National Heritage Lottery Fund
Paul Hamlyn Foundation
Royal Victoria Hall Foundation
Society for the Study of Labour History
Teale Charitable Trust
The Grocers’ Charity
5. INVESTMENT INCOME
Unrestricted
Funds
2023
£
Restricted
Funds
2023
£
Bank Interest
-
-
-
-		 Total
Funds
2023
£
25,122
2,500
25,000
20,000
-
-
33,483
48,000
-
750
-
5,000
159,855
Total
Funds
2023
£

-

-		 Total
Funds
2022
£

1,500

22,500

-

10,000

3,000

10,000

-

20,000

1,000

-

2,000

-

70,000
Total
Funds
2022
£

-

-

In 2022, of the total investment income, £ NIL was to unrestricted funds and £ NIL was to restricted funds.

PAGE 21

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

6. ANALYSIS OF EXPENDITURE BY CHARITABLE ACTIVITY

Activities
undertaken Support Total Total
directly Costs Funds Funds
2023 2023 2023 2022
£ £
£		 £
Productions 83,197 12,146 95,343 11,053
Ardent8 9,139 2,134
11,273		 44,936
Ardent Voices 780 -
780		 675
Ardent Resources 10,427 3,044
13,471		 876
Ardent Advocacy 467 269
736
Core - 13,381
13,381		 28,559
104,010 30,974
134,984		 86,099

Direct costs are analysed in Note 7. Support costs are analysed in Note 8.

In 2022, of the total expenditure, £104 was expenditure from unrestricted funds and £85,994 was expenditure from restricted funds.

7. ANALYSIS OF TOTAL EXPENDITURE ON DIRECT COSTS

Creative & Production Team Fees
Actors & Stage Manager
Workshop Leader
Production Costs
Travel, Accommodation & Subs
Theatre Rent
Marketing
Project Hospitality		 Total
Funds
2023
£
35,360
23,100
2,700
17,430
14,043
5,250
5,612
515
104,010		 Total
Funds
2022
£

4,610

19,789

150

811

15,943

6,095

4,911

338

52,647

PAGE 22

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

8. ANALYSIS OF TOTAL EXPENDITURE ON SUPPORT COSTS

Creative Director Fees (freelance)
Staff Costs
Other Fees
Administration
Travel, Accommodation & Subs
Marketing
Hospitality
Accountancy Fee
Fundraising Costs
9. NET INCOME / (EXPENDITURE)
This is stated after charging
Depreciation of tangible fixed assets:
- owned by the charity
Independent examiner's remuneration - statutory accounts
Independent examiner's remuneration - accounting & taxservice		 Total
Funds
2023
£
15,467
9,760
450
4,122
284
252
229
410
-
30,974
Total
Funds
2023
£
-
60
350		 Total
Funds
2022
£
28,500
-
2,250

1,921

68

188

215

310

-

33,452
Total
Funds
2022
£

-

60

250

During the year, no Trustee received any remuneration (2022 - £NIL) During the year, no Trustee received any benefits in kind (2022 - £NIL) During the year, no Trustee received any reimbursement of expenses (2022 - £NIL)

PAGE 23

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

10. STAFF COSTS

Wages and salaries
Social security costs
Pension costs		 Total
Funds
2023
£
9,567
-
193
9,760		 Total
Funds
2022
£

-

-

-

-

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

Part-time
Full-time		 2023
No.
2
-
2
2022

No.

-

-

-

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

The key management personnel of the charity, comprise two Creative Directors. Remuneration received by key management personnel amounted to £9,567 salaried and £15,467 freelance (2022: £28,500 freelance only).

PAGE 24

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

11. DEBTORS

Trade debtors
Other debtors
Prepayments and accrued income		 Total
Funds
2023
£
-
-
32,894
32,894		 Total
Funds
2022
£

-

-

5,246

5,246

12. CREDITORS: Amounts falling due within one year

Total Total
Funds Funds
2023 2022
£ £
Trade creditors 2,521
Other creditors 1,182 -
Accruals and deferred income 310 310
4,013 310

PAGE 25

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023 (continued)

13. MOVEMENTS IN CHARITABLE FUNDS

Unrestricted Fund
Designated Fund
General Fund
Restricted Fund
Total of funds		 Balance at
1 April
2022
£
-
14,407
14,407
40,466
40,466
54,873		 Income
£

-

88,106

88,106

146,366

146,366

234,472
Expenditure
£

-

20,313

20,313

114,671

114,671

134,984
Transfers
In/out
£

25,000

(25,000)

-

-

-

-		 Balance at
31 March
2023
£

25,000
57,200

82,200

72,161

72,161

154,361

Nature and purpose of funds

Restricted funds consist of £43,620 for our production of STRIKE!, £8,429 for ARDENT8 workshops and £20,112 for the National Lottery Heritage Fund legacy project.

SUMMARY OF FUNDS – PRIOR YEAR

Unrestricted Fund
Designated Fund
General Fund
Restricted Fund
Total of funds		 Balance at
1 April
2021
£
-
4,113
4,113
33,374
33,374
37,487		 Income
£

-

10,399

10,399

93,086

93,086

103,485
Expenditure
£

-

105

105

85,994

85,994

86,099
Transfers
In/out
£

-

-

-

-

-

-		 Balance at
31 March
2022
£

-

14,407

14,407

40,466

40,466

54,873

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