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
Independ￿1 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 the￿fore 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 perfoTrnar￿es took place in the foyer of Chelsea and Wes¢min￿er 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] spa￿lIng perfomianG8. Thank you so much for 8N your 8fforts....It wè$ lO￿lY 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 theref￿e 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 P￿paring Ihese finanaal slalements, the Iruslees are required to..
select suitable accounting poliries and then apply thom consistently.,
obse￿e 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 p￿VentIOn 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 poli￿es=
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 appli￿ble 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 a￿unting requSraments of section 396 of the 2006 Act other
than any requirement that the ac£ounls give a Injg and fair v*ew 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 prin￿pIeS of the
Statement of RecommendeLI Pracb¢e for accounting and reporting by chaFities applicable to charities
preparing their accounts in 8￿rdance 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 prO￿r 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 balan￿8 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 T￿thIn
on• year
13
11,7601
11,705}
Net current *$$ets
73.289
29,193
Net assets excludlng pgn$Tron Ilability
73.289
29,193
Thg funds ofthe Charity
Re8tricle¢J in¢omfy funds
Unrestri¢ted funds
14
58.045
15.244
7.370
21,823
73.289
29,193
The company is enlrtled to the exemption from the audit requirement contsined in sect*on 477 of the Cornpanies A
2006, for the year ended 31 Dècèmbar 2023.
Th8 Trust8os acknowtedge their iespon$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 reSour￿S and application of
res0￿reeS. 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¢ T￿atre 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 Art￿leS of
Assodatlon,
the Companles Act 2006 and °Accountlng and Reporting by Charfties.. Statement of
Re¢ommended Practic8 applicable lo charities preparing Ih¢if a￿￿nts 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 chall1￿5 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 $tstèmènts.
1.4 Ineom
In￿me is recognised when the Charity is leg81ty éntitled to it aftor any performance condllions have L*en
met, thè amounts can be measured reli3bty. 8nd it is probable that incitrme will be received.
Cash donations are recognised on receipt. Other donations 8r8 recognised once the Charity has been notifigd
of the donation, unless perfomian¢e conditions require deferr81 of th8 amount. Incorne tax recoverable in
relation lo donations received under Gift AFd or deeds of covenant is recognised at the lime of the donation.
Legacies are recognised on ￿ceIpt or othevwise rf the Charity h8$ 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)ir￿j a8 the difference befvleen the sale proceeds
and the carrying value Df the 8swt. aThJ Is recognised in the statement of fin8nctal 8ctl￿tI2S.
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 ￿a￿ritieS 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 Chari￿s 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 $t*ements. 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¢our*ed #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$sets
Financial assets. other than Ihosg hèld * fair value through income and expènditurè. are aS￿s￿d for
indicators of ￿mpalm1ent at each reporting date. Financial assets are impaired where there is objective
evidence that. as a regum of one or more events that occurred after the initial recognition of the finana81 asset,
the estimated future cash flows have been affected.
If an asset is impaired. the impaimient loss is Ihg differ8nce between the carrying amount and the pwsgnl
valua of tho estimated cash flows dl$¢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 r*e 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 am0￿Sed 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 reqUI￿d 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 In￿Me
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
Un￿stricted 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
{COn￿nUed)
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 wh￿h 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 spec￿lC 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
re￿urGe•
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 du￿n9 the year12022- none).
16-