Charity rngistration number 1465923 Company rgglstrntion numbgr 09383242 (England and wa$) BASELESS FABRIC THEATRE LIMITED ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023
BASELESS FABRIC THEATRE LIMITED LEGAL AND ADMINISTRATIVE INFORMATION Tru5te0$ Francis Pindar Mark Pharaoh Amold Pindar Sophie Hamtel Frands Pindar Charity numb•r 1165923 Company numb•r 09363242 Regi$tsr•d offl¢e Wifflbletech Zone 1 Wimbladon Hill Road Wimbledon London SW19 7NB Independent •xaminor lfjngston Burri)wes Accountants 450A London Road North Cheam Surrey SM3 8JB
BASELESS FABRIC THEATRE LIMITED CONTENTS Page Trustees, report Independ1 examinèr's r8W)rt Statement of financial activilles Balance sheet Notes to Ihe finan¢ial statements 8-16
BASELESS FABRIC THEATRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 BASEIESS FABRIC The Trustees presgnl their onnÉtal report and finanaal statements for the year ended 31 December 2023. The financial statemerts have been prepared in accordance with the 8ccountino policiès Sèt out in note 1 to the financial stalernenls and mplY with the Charitys tgoveming documenll, the Companies Act 2006 and"Accounting and Reporting by Charities: Slatsmenl of Recommended Praciice applicable to char*ties preparing their ac¢ounls in accordanco with the Financial R8POrting Stsndard applicablo in tha UK and Republio of Ireland {FRS 1021" (effective 1 January 20191. O¥e¢tlves and activities Our formal objective (Articles of Assooation).. The Charity is establFshed lo promote and 8dvan¢a 8ducat¢on through the arts for the public benefit and lo promote and advance the appreciation and understsnding of the arts for the public benefit. with particular bul not ex¢lusiv8 referen¢a to the dramatic arts. Achievements and porfomiance The main achievements & perfonnanGQ of the ChaiTty during ffte period After 2022 was a hugely busy year for us. w8 decided lo take some lime during 2023 to focus on org8nisational trvelopment, fundraising. and building partnerships. 11 was beneficial lo have lime away frorn busy projects lo work on our stiategy. work with consultants to gain new skills and advice, meet new industry partners for collaboration and spend fo¢ussed tim8 M fundraising which we had not been able to do in 2022 due lo our busy programrne of activities. ni nal Dèvdo We are extremely gratefvl to Wimbledon Foundation for funding our continued organisallonal devèlopment work. This enabled us to review and implement the work we had undertaken with an impact eonsullanl from the Foundation for Social Improvement in 2021-2022 wrth n) time this year to focus on the bigger picture of the organisth'on. We then also worked with two arts con$ukants. Firstly, this invofved an investigation into new streams of funding, particularty trusts and foundations that we dSd not havg r91ationships with, and how we might approach them. Secondly, this involved feedback on bid wrf(ing and upskilling our s¥nall team in their approach to bid writing with a particular focus on the change8 to Arts Council Proj8Ct Grant applications. The wnsutsncy was extremely benéfiaal particularly in this incredibly challenging lime for arts fundraising. It is, as for all charities especially thos8 in the arts, an incredibly tough time for fundraising at the moment, which is exacerbated wrth 8 ¢08t-of-living crisis meaning that project costs are rising. We are thefore delighleil that despite all this, we have been able lo fLFndraise to make our nexi project happen and to deliver OUT 2024 programme of work. This will involva the creative adaptation of Donizetti's The Elixirof Love as well as various activities lo engage young and older pèople and artists In various stsgas and aspects of our work. Meanwhile, we also focussed more on reaching out to, meeting with and forging new relationships with other opera organisations to try and rais8 our profil& in the industy and gain support during these parti¢ularfy tough limes.
BASELESS FABRIC THEATRE LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Collaboration wi Following months of discLtssion over the summer. w8 were delighted to present short perfoman¢es of our street opera adaptation of Mozart's Cosi F8n Tutte as part of tho Opera Holland Park Inspire programme in the autumn. Thfrs8 perfoTrnares took place in the foyer of Chelsea and Wes¢miner Hospttal where Opera Holland Park usually provide monthly concerts. We greatly enjoyed working with a new team on our first cla55ic opera adaptslion (premiered in 20171 and perlomiing it in a new location that read)ed new divers8 audiences receiving lols of positive feedback. Feedback induded.. 'Itbrighfened up my d8 "Itreminded me olthe days when l used to go to th& op81a° 'liusthad an awfvl appointment and walohing lths 911Y cheeredn7e up" 'tit was a] spalIng perfomianG8. Thank you so much for 8N your 8fforts....It wè$ lOlY to enjoy such a beautifvl perfoffnancg in whal would othenwse be a necossailly ratherclinic81 envAmnmwt.' Fiordiligi- Lucy Andorson Dorabella- Shakira Tsindos Ferrando- Philip Coslovski Guglielmo- J8ck Holton Don Allonso-Alex Jones Piano- Fran Hills The collabwalion with Opera Holland Park Inspire's programme will hop8fulty D)ntinue in the future, whilo wè hope meetings and discussions with other organisatrons will lead to fvrther prodtjctive collaborations and Go-productions in the future. Dov810 ments Our 2024 programme of WO will indude the crèative adaptation of Donizetti's The Elixir of Love as a modem English street opera with the story and libretto re-written by Joanna Turner and the music re-written for three instrLFments suitable for proménade p8rformance by Leo Geyer, Constella Musi¢. The adaptation will culrninate in a Research & Developmeni period with performers in the auturnn. As part of the adaptation we will wn engagement sessions with hyo community partners, Roehampton Base Youth Club and Kathèrinè Low Settlernenl Elders Group, to get their ideas & input at an early stage of development. We will then retum to these groups during the R&D to share a few scenes & hold a Q&A and discussion about the adaptation so far, before then reluTning lo them as part of the full production period in the future (aiming for 2Q251. Alongside this adaplalion work, we will 81so run thr88 Skrlls Sharing Workshops for pr8Ctttioners on introducing opera lo young people in a fun, accessible way- 8imed 81 both dr8ma & music practitionefs with lirniled experience of opera as well as opera singers with limited experience of facilitation. Additionally wè will relum to local children's charty Jigsaw4u to Nn a day workshop for their young people over the summer holidays. This is in addition to our highly successful programme of Opera Taster Workshops at primary sthools and Carehome Concerts al local community Cent lunchclubs and carehomes. As well as continuing our work throughout London Boroughs of Merton and Wandsworth, we will also develop relationships further across South London into Croydon to ¢onttnue embedding our work With South London communities. particularly in areas of low arts provision.
BASELESS FABRIC THEATRE LIMITED TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Flnan¢lal revlew It has been a strong year for the organl$*ion in terms of financial activity, wtth income increasing from £38.199 10 £58,214_ Thi$ is largely due to the investment made in the year in securing funds for future projects such as the Elixir of Love adaptslion, which commenced work in 2024. This can also be feflected in the ltrvel of expenditure incurred in the year, which was Signthcandy Iow8T than 2022 having decreasfj<l by £70,242 to £14,118 for the current year. This is rellective of the reduced levels of activity Spent on projects during 2023. This has ¥esuMed in the Charity achieving 8 surplus of £73,289 in 2023, leading to a signiftcant growth in cash levels and reserves, although the majority of these reserves land therefe Gashl are restricted for tho purpose of future projects taking place in 2024. Going forwards into 2024. the Truslees are confident that this last year of actiw has enabled the Charity to set iiself up for stjccess with a new adaption of Elrxir of Love, additional schools, workshops and Continuing to build on partnerships and rolationships developed in the year. Stw¢tLEre, govèrnance and management The charity is a company limited by guarantee. The TTU8te83, who are a15ts the diractors for the puwpo3e of company law, and who served during the year and up to the date of sigf7ature of the finan¢i81 statements were.. Franas Pindar Mark Pharaoh Amold Pindar Sophie Hamlet Rwuitm8nt and appointment Of1$t0&S They are f8sponsible for preparing the Trustees, Report and th8 financial slalements in accordance with applicable law and United Kingdom Accounting Standards {Uniled Ktngdom GenerallyAccepted AcLounting Practi¢xl. Company Law requi$ the trust@8S to prepare financ¥al stslements lor each financial year which give 8 true and f8ir view of the state of affairs of the charity and of the incoming resources 8nd application of resources, including the income and expenditure, of the charitable company for that year. In Pparing Ihese finanaal slalements, the Iruslees are required to.. select suitable accounting poliries and then apply thom consistently., obsee the methods and principles in the Charities SORP., makè judg8ments an estimates that are re8s0nable and prudent.. state whether applicable UK Accounting Standards have been followed. subject to any material departure8 disdosed and explained in the financial statements,. and prepare the finanual statements on the going ¢oncèm b8sis unl8SS It is inappropriate lo presume that the charity will Continue in operation. The trustees are responsiblè for k88ping adequate accounting records that di%lose with reasonable a¢cura¢y at any lime the financial position of the ¢h8ri1y and anable them lo ensu that the finanaal Statements compty with the Colnpanies Act 2006. They ale also responsible for safeguarding the assets of the charity and hen¢& taking reasonable steps for thè pVentIOn and detectton of ftaud and other iTrpgularilie8. Otherm8tt8 Jigsaw4u Merton Music Foundation W8ndsworth Music Seryice Lanlem Arts Centr@ Merton & Wandsworth schools Merton & Wandsworth carehomes & organisations for the eldedy Opèra Holland Park
BASELESS FABRIC THEATRE LIMITED TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 The work of Baseless Fabric Th8atrg would not be possible wilhoul the support from our fiJnd8rs. We gralefvlly acknowledge the conlributiLN)s made by.. Arts Council England Wimbledon Foundation Samuel Gardnef Memorial Trust The Humphrey Richardson Taylor Charitable Trust Co(*8yn¢ Grants forthe Arts- London Communtty Foundation P051¢ode Society Trust Wandsworth Council Three Monkies Tru$l John Thaw Foundation Tesco Strong&r Starts N81ional Lottery Community Grant Review of PollcSe8 During the yeai the Trustees revisèd the following polies= Child & Vulnerable Adult Protection Policy Complaints Policy Equal Opportunities Policy Privacy Poli Volunteers Policy Conflicts of Interest Policy Health & Safety Policy The Trustees. report wa8 proved by the Board of Trustees. Arnold Pindar Chalrnian 20 Juty 2024
BASELESS FABRIC THEATRE LIMITED INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF BASELESS FABRIC THEATRE LIMITED I report to the Trustee$ on my examination of the financial stat8m8nts of Baseless Fabric Theatre Limited (the Charity) for the year ended 31 December 2023. Responsibilitses and basFs of rgport As the Truslees of the Charity land also its direciors for the purpose$ of company lawl you are responsibl8 for the prèparation of the financial stalemenls in accor(lance with the requirernenls of the Companies Act 20 Ithe 2006 Act). Hamng satisfièd mysèlf that th8 ffinancdal statements of the CharÈty Brè not qUired to be audited under Part 16 of the 2006 Ad and 8re eligible for independent exarnination, I report in rospect of my examination of the Charity's rinancial statements Carried out under section of the Charitiès Act 2011 {the 2011 Act). In carrying out rny examination I have followed all the applible Directions given by the Chanty Comm55sion under section 14515){b} of Ihe 2011 kn1. Independent examinerf¥ ststsmgnt I have completed my examination. I confimi that no matters have como to my attention in ts)nnectlon wtth the examination giving me I$¢ lo believe that in any material respe¢t= accounting records were not kept in respect of the Charity as requlred by section 386 of Ihe 2CQ6Ac( or the fin8n¢ial ststements do not accord with those records., or the finanryal staternents do not comply with the aunting requSraments of section 396 of the 2006 Act other than any requirement that the ac£ounls give a Injg and fair vew whith 15 not a matter considered as part of an independent examination.. or the ffinan6ial statements have not been prepared in accordance wth the m8thods and prinpIeS of the Statement of RecommendeLI Pracb¢e for accounting and reporting by chaFities applicable to charities preparing their accounts in 8rdance with the Financial Reporting standar appli(bla in the UK and Republic of Ireland IFRS 1021. I have no concems and have o)me across no other matters in connection with the examination to which attention should be drawn in this reptrrt in ordei to enabla a prOr understanding of the financial statements lo be reached. Kingston Burrowes Accountsnts 450A London Road North Cheam Surrey SM3 8JB Dated= 20 July 2024
BASELESS FABRIC THEATRE LIMITED STATEMENT OF FINANCIALACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023 Unrestrl¢ted R8Strictod fvnd$ funds 2023 2023 Total Unr•stri¢tod Restrlcted funds funds 2022 2022 Total 2023 2022 Notes Ineomè and andowments fmm: Donations and legacies Charitable actiwts.es Inveslmenls Other Incc4ne 561 4,7CK) 561 28,831 1.718 10 55,542 57260 10 24,131 8,807 8,807 rotsl Incomg 2,672 55,542 58,214 14,068 24.131 38,199 Expendlture on: Charitable activities 9.251 4,867 14,118 3,229 81.131 84,360 Totsl •xpgndlturn 9,251 4.867 14,118 3,229 81,131 84.360 Net incomellexpendltur•l and movement in funds {6,579) 50,675 10,839 157,000) 146,1811 Reconciliation of fund$: Fund balan8 at 1 January 2023 21.823 7,370 29.193 10,984 64,370 75.3S4 Fund baton¢as at 31 December 2023 15,244 58,045 73.289 21.823 7,370 29.193 All Income and expenditure derive from continuing 8th"vrtie8. Induded as Other Income in 2022 was £8,807 I£Nil in the current year) of Theatre Tax Retlef. all of which was unrestriGted.
BASELESS FABRIC THEATRE LIMITED BALANCE SHEET ASAT31 DECEMBER 2023 2023 2022 Notes Currant a$ts Debtors Cash at bank and in hand 13,681 17.217 75,049 75.049 30.898 Credltors: amounts falllny due TthIn on• year 13 11,7601 11,705} Net current $$ets 73.289 29,193 Net assets excludlng pgn$Tron Ilability 73.289 29,193 Thg funds ofthe Charity Re8tricle¢J in¢omfy funds Unrestri¢ted funds 14 58.045 15.244 7.370 21,823 73.289 29,193 The company is enlrtled to the exemption from the audit requirement contsined in secton 477 of the Cornpanies A 2006, for the year ended 31 Dècèmbar 2023. Th8 Trust8os acknowtedge their iespon$lbilffjes for ensuring that the charity keeps 8ccounting records whi comply with se¢tion 386 of the Act and for preparing finanfyal statements which give a true and fair view of the slate of affairs ol the company as al tho end of the finanaal year and of 118 ino)ming reSourS and application of res0reeS. including its income and 8xpenditure, for the financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Ac¢ 20C6 relating to financial statemonts, so far as applicable lo the mpanY. The mombers have not required the MpanY to obtain an audit of ils financial stslements for the year in question in accordance with section 476. These finanrAal stslemènts hava been prepared in accordance with the prO$10ftS applicable to oJmpanie8 8vbje¢t lo the small companies regime. The financial statements were approved by the Trustees on 20 July 2024 (LTA ( Amold Pindar Chairnia Cornpany regislrati¢)n number 09363242 (England 8nd Wales)
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounlng poli¢ios Charity infomiatlon Baseless Fabri¢ Tatre Limited is a private company limited by guarantee incorporated in Engl8nd and Wales. The registered office is Wimbletech Zone 1, 35 Wimbledon Hill Road, Wmbledon. London, SW19 7NB. 1.1 A¢eountlng eonv•ntion The finanaal statements have been prèpared in 8ceordanc8 With the Charity's MeTnorandum and ArtleS of Assodatlon, the Companles Act 2006 and °Accountlng and Reporting by Charfties.. Statement of Re¢ommended Practic8 applicable lo charities preparing Ih¢if ants in accordan with the Financial Reporting Sland8rd 8pplicabl8 in the UK and Republic of Ireland IFRS 102}. {as amended lor aceounling periods commencing from 1 January 2016). The Charity is a Public Benefit Entity as defined by FRS 102. The Charity has 18ken advantage of the PTovision8 in the second edrtion of the SORP for chall15 applying FRS 102 not to prepare a Statetnenl of Cash Flows. The finanryal statomenl$ are prepared in Stgrling, whid) is tho functional rJJrrerKy of the Chartty. Monetary amounts in these financial statements are rounded lo the nearest £. The financaal statements h8ve been pr8par8d un¢Jer the historical oJst convention. Tho PfinGlpal ¥ttounting poli¢ies adopted are set out below. 1.2 Golng ¢on¢ern At the time of approving the financial ststements, the Trustees have a reasonable expectation that the Charity h8S 8dequat8 resources to continue in opèrational existence for the foreseeable future. Thus the Trusteès continue to adopl the going concem basis of aco)unbng in Preparing the financial statements. 13 Charitsblo funds Unreslfi¢ted funds are available for use al the discretion of Ihe Trust88s in furtherance of their diaritsblg objectives. Reslricted funds are subie¢l to specific conditions by donors or gi8ntors as to how they may be used. The purposes and uses of the restricted ndS are set out in the notes lo the financi81 $tstèmènts. 1.4 Ineom Inme is recognised when the Charity is leg81ty éntitled to it aftor any performance condllions have L*en met, thè amounts can be measured reli3bty. 8nd it is probable that incitrme will be received. Cash donations are recognised on receipt. Other donations 8r8 recognised once the Charity has been notifigd of the donation, unless perfomian¢e conditions require deferr81 of th8 amount. Incorne tax recoverable in relation lo donations received under Gift AFd or deeds of covenant is recognised at the lime of the donation. Legacies are recognised on ceIpt or othevwise rf the Charity h8$ been notified of an Impending distribution, the amount is known, and receipt is expectsd. If th8 amount is not known, the legacy is treated as a contingent asset. ckel and Programme sales are reGo9nised at the lime that the related event has occurr8d.
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng pollGles Icontlnuedl 1.5 Expandltur• Expenditure is recouni8ed once thar8 is a legal or constructive obligation lo transfer economic benefft lo 8 third party, il is probable that a transfer of economic benefits will be required in settlement. and the amount of the obligation can be measured reliably. Expendituie is d8ssmed by athity. The Gosls of each 8Ctiwty are up ol the total of dlrect costs and shared costs, inc14Jding support costs Involved in undertaktng each activity. Dlrect costs attributable to a &ngle aetivity ar• 8lk)caled dirocdy to that setivty. Shar8d costs which contributè to moi• than ono aclivity and support costs which are not attributable to a single activity a apportioned btheen those activities on a basis consislenl with the use of resources. Cent¥al staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portton of the 86sel's use. Costs are Tecogni8ed when they are poyable and are allocatèd to the charit8bEe actsmty lo whi¢h they relate. 1.6 Tangible fixed assets Tangible fixed assets are initially m8asur8d at cost and subsequentsy measured * cost or valuation, net of depredation and any impaimient losses. Deprgciation is recognised so as lo write off the cost or valuation of assets less their residual values over the usefvl liv¢s on the following base8". Computer equlpmont 33% 8traighl lina basis The gain or1038 arlsing on the disposal of an asset is detem)irj a8 the difference befvleen the sale proceeds and the carrying value Df the 8swt. aThJ Is recognised in the statement of fin8nctal 8ctltI2S. 1.7 Cash and cash oqufvolents Cash and cash equivalents indude cash in hand, deposits held al call wtth banks. other short-teTm liquid investm8nts with original aritieS of three months or 18ss. and bank ovefdraft5. Bank overdrofts are shown within borrowings in current liabilities. IA Flnanclal In8tNments The Charity has elected lo apply the provisions of Section 11 'B8Stc Finanaal Instruments, and Section 12 '0th8r Financial Inslrutnenls Issues, of FRS 102 to all of its financlal instruments. Financial inslrumerlts are recogni$ed in the Charis balance sheet when the Charity becomes party to the contractual proviston8 of the instrument. Finanryal assets and liabililles are offset, with the net amoLtnts PTe8enled in the financial $tements. when there is a legally enforceable right to set off the reo)gnised amounts and there is an intention to settle on a net basis orto realise the asset and settle th6 liability simultaneously. Basic financlal assets Basic financial assets. whlch indude debtors and cash and bank bal8nc8s, aTe inrtially measured at transaction price it7cluding transaction costs 8nil are subsequentty carried at amortised cost using the eff¢clive interest method unless the arrangement constitutes a financing transaction. where the transaction is measured at the presènt V8lue of the fijture receipts dis¢oured #l a m8fkel rate of interest. FinancAal assets classifigd as ieceivable within one year are not amorbs8d.
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Accountlng pollelos Icontlnuedl Imp•lrment of fin•n¢iala$sets Financial assets. other than Ihosg hèld * fair value through income and expènditurè. are aSsd for indicators of mpalm1ent at each reporting date. Financial assets are impaired where there is objective evidence that. as a regum of one or more events that occurred after the initial recognition of the finana81 asset, the estimated future cash flows have been affected. If an asset is impaired. the impaimient loss is Ihg differ8nce between the carrying amount and the pwsgnl valua of tho estimated cash flows dl$¢ountad at Iha 4sso1's original effective intere$l rate. Thè impaimiènt loss is recognised in net incomel(expendilurel for the year. If there 18 a decrease In the impairment loss arising from an event occurring after the impairnient was r8cogtiis8d, the impairment 18 reversed. The reversal is such that the current carrying amount doès not ex¢èed whal the carrying amount would have been. had the impaim)ent not prewously been recognised. The Impalnnent Tever8al is recogni8ed in ngt incornellexpènditur) for the year. D•ro¢ognftlon of finan¢ial assets Financial assèts are derecognise(l only whan the contractual rights to the cash fk)ws from tho asset expire or are setded. or when the GhaTty tran8fefS the finanaal asset and substantially all the risks and rewafds of ownership to another entity. or if some signrficant risks and rewards of ownership are retained bul control of the ass¢t has transferred to an(rther party that is able to sell the asset in its entirety to an unrelated Ihifd party. Baslc financial liabllltles Basic financAal liabilities, induding (dItOrs and bank loans are initrally recognised al tr8n38ction pdce unless the arrangement constitutes a finanrAng transaction, where the debt instrument is measured at the present Valua ol the future payrnents d15cOUnt at a mathel rate of Inlerest. Flnandal liabiltties classified as payable wilhln one year 8rg not amortised. Debt instrumerts are subsequently carried a¢ amorb$ed ¢osl. using the effective intsresl re meththl. Trade cr&litors are obllgatlons lo pay for goods or services that ha been acquired In the ordinary cours8 of operations from suppliers. Amounts payable are dassified as rrent liabilities if payment is duo within one year or less. If not, they are presented os non-current liabilities. Trade creditor8 are recounised Initially al transaction price and subsequently mèasured at am0Sed cost using th8 8ff8ctNe interest method. Derecognltlon of finan¢i81 Ilabfflde$ Financial liabilities arè d¢r¢¢o9nised when the ChaTIty'8 contractua5 obligation8 expire or ar¢ dis¢harged or cancolled. 1.9 Employee benefits The o)st of any unused holiday entitlemenl is re¢ogni8e(I In the perlcKi In whlch thg ¢mph)yee'$ services are received. Temiit7ation b8n8ffts Ire TecLJgni8ed immediately as an expense when the Charity is demonstrably thnmiited to tsrmin*e the employment of an omployee or lo prowde temiinatK)n benefits. 10-
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Crltlclll accountlng esllmatss and ludgemgnts In the applvxlion of the Charfty's arxounting polSc4es, the Trustees are reqUId to make judgements. estimates and assumptions about the ¢8rrying amount of assets and liabilths that ar& not readity app8renl from other sources. The estimates and assoctaled assumptions are based on historical experience and other factors that are con8iLlered to be relevant. Athal resulis may clKfer from these estlmates. The esllm8tes 8nd undodying assumptions are fwiewed on an ongotng basis. Revisions to accounting eslirnates are re¢LxJniseLI in the period in which the estimate is revised where the Vision affects only that period, or in the period of the revision and future per(ods where the revision affects both current and fvture periods. Incomfr from d()nation$ and lega¢le8 Unr8strlet•d funds 2023 Unr•strlct•d funds 2022 Don8lB)ns 8nd gifts Incom• from charftable actlvltleg UnrKtricted Restrict8d funds funds 2023 2023 Total Unrostrictod Restricted funds funds 2022 2022 Total 2023 2022 Primary income Other InMe Project related grants 1.718 1.718 55,542 4,71Xl 4.700 24,131 55.542 24,131 1.718 55.542 57.260 4.71Y) 24.131 28,831 11
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Incomg from charitable actlvltles {Contlnuodl Project relatad grants analysis Prlmiry In¢omo 2023 Primary Incomo 2022 Arts Council Roy81 Victorfa Hall FoundalÈon Samuel Gardner Memorial Tru8t The Humphrey Richardson Taylor Charilablo Trust London Borough of Wandsworth Postcode Society TrusÈ Three Monktes Trust John Thaw Foundation Tesco Stronger St8rt8 Nati¢)n Lottery Cc4nmunity Fund Other 23,877 14.271 1.5CXJ 1,Otx] 2,500 4,860 750 9.975 9,415 5.000 1,000 1,125 {55,5421 124,131) Incom• from Investments Unrostrl¢tsd Unrestrlcted fund5 funds 2023 2022 Interest receivable fo Other Incom• Unr•StrI¢t Unrestslet8d funds nds 2Q23 2022 Theatre Tax Relief clalmed 8,807 12-
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 Expgnditurn on charftable artiviti•$ Charitablo Charitsb Qxpenditure exptnditu 2023 2022 Direct ¢ts SIof8ge Insurance Travel Studio Hir Artist fees Audit and Accountancy Fee8 Bank Charges A¢Jvertlsing and Markèt#ig General Expenses Staff training 1,840 693 1.697 693 1,699 71,588 1,982 95 2,653 1,249 1,200 8,375 1,904 285 935 14,118 Analys1$ by fund Unstricted funds Restricted lunds 9.251 4.867 3.229 81,131 14,118 84,3fO Trustso$ None of the Trustees {or any p8rsons conn6ctad wlth them) received any remuneration during the year. bul one connected petson was paid a total of £8,375 lor projeot f8&s12022- one was reimbursed £18,181). Employees The averdge monthty number of empjoyees during the year was.. 2023 Numb8r 2022 Number Total There were no employees whose annual remuneration was more than £$.000. 10 Taxatlon The charity is exempt ffom tax on income aThJ gains falling within sectlon 505 of the Taxeg Act 1988 or section 252 ofthe Taxatson of Ghargeable GalnsAct 1992 to tne extent that these are applled io Its charltabje obJe¢ts. 11 Debtors 2023 2022 13-
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 11 Ofrbtorn {Contlnu¢dl 2023 2022 Amounts falling du• ¥ft•r mor• thon ¢ne year. Prepayments and accrued income 13,681 12 LoanB and OVOTdrnft¥ 2023 2022 Directors'108ns Payable within one year 25 13 Creditors: amounts falling due withln one year 2023 2022 Borrowings Awuals and d¢f¢rred in¢ome 25 1,680 1.760 7.780 1.705 14 Rostrlctsd funds The restricted funds of the charity comprise the ungxpendgd balances of donations and grants ld on Irusl subject to sperAfic conditions by donors as to how they Fnay be used. Al 1 January 2023 Incoming Rosour r•source8 expended At31 December 2023 Arts Council Samuel Gardner Memorial Trust The Humphrey Ri¢hard8on Taylor Chariloble Trust London Borough of WBndsworth Wimbledon Foundation Poslcode Society Trust Three Monkies Trust John Thaw Foundallon Tes¢tr Stronger Stsrts Nattional Lottery Communlty Fund 23,877 750 23,877 750 2.503 2,503 9.975 9,975 4,867 (4.867) 9.415 5.000 1,000 1,125 4,400 9.415 5.000 1.000 1.125 4,400 7.370 55.542 (4.86n 58,045 14-
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 14 Restricted fund8 {COnnUed) Previous year. At 1 January 2022 Incomlng our¢o$ Resour¢es expended At31 De¢emb8r 2022 Arts Council London Borough of Merton Cockayne Grants for theArts- London Cornmunity Foundation Samuel Gardner Memortal Trust The Humphtey Richard80n Taylor Charttsble Trust Unity Theatre Trust London Borough of Wandyworth Wimbledon Foundation Poslcode CommunSty Trust Thre8 Monknes Trust Foyle Foundation Garfield Weston Foundation Royal toria H811 Foundation 12.407 1,014 14,271 (26.878) 11,014) 1,2 71x1 11,962) (1,700) {1.498) 1500) 14,860) (13,137) {8,282} {5.0001 (7,51KJI 17,5001 11,5001 18,(X15 8.282 5,(KJO 7.500 7.500 4,888 1.500 64.370 24,131 181,1311 7,370 15 Unrnstrfcted fund The unrestricted funds oflho tharity comprise the unexpended balar¥¢es of donallons and grants whh arg not subject to 5pecyfic (x)ndilions by donors and grantors as to how they may be used. These indude designated funds which have beerF sel aside out of unrestricted funds by the twsloes for speclC purposes. At l January 2023 Incoming rn8ourc8s Resour¢ oxpond•d At31 December 2023 General fund? 21.823 2,672 (9,251> 15,244 Provlous yoar: At t January 2022 In¢omlng R•sour¢•s reurGe• expended At31 Dec•mbgr 2022 General knnds 10,984 14,068 13,229) 21,823 15-
BASELESS FABRIC THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2023 16 Anatysis ol not •$$trts b•tween fund8 Unrestrfotsd Restrlcted funds funds 2023 2023 Total 2023 At 31 Dècembor 2023.. Current assetsl1l1a'liIi8s) 15,244 58,045 73,289 15,244 58,045 73.289 Unrestrlcled fundg 2022 Restrlcted funds 2022 Total 2022 At 31 D¢Mber 2022: Current 8ssetsllliabilities> 21.823 7.370 29.193 21,823 7,370 29,193 Natu trfcted Funds Arts Coun¢ll- Production for C8rm8n and R8Soarch & Oev8k>pmènt for Th8 Ellxir of Lova Samuel Gardnèr Mttmorial TN8t- Research & Development for The Elixir of Love Humphrey Richard$on Taylor Charitable Thist- Researd) & Development forThe Elixir of Love London Borough of Wandsworth - Research & Development & associated Community Outreach for The Elixir of Love Wimbledon Fovndation- Organis8lTonal Development PoGt¢ode Soclety Trust- CommunTrty Outreoth 88s0¢iatèd wilh The Elixir of Love Three Monk5e5 Trust- Community Outreach associated wilh The Elixir of Love John Thaw F¢undatlon- Community Outr8ach assocaat8d wilh Th& Elixir of Love Te8¢0 Stronger Stsrt8- Communty Outreach associalg(I wrth The Elixir of Love National Lottery Communlty Fund- Community Outreac*) associated with The Elixir of Love 17 Rglatsd party transacttons There were no dlsdosable related party transa&lons dun9 the year12022- none). 16-