Company registration number.. 07827250 Charity registration number. 1167647 Peut-Etre Theatre IA company limited by share capital Annual Report and Financial Statements for the Year Ended 31 March 2022 Timothy Geddes, FCA, DChA 147 Glenarm Road London E5 ONB
PeUt-Et Theatre Contents Reference and Administrative Details Trustees. Report 2107 Statement of Trustees, Responsibilities Independent Examinerfs Report 91010 Statement of Financial Activities Balance Sheet 121013 Notes to the Financial Statements 14to21
PeUt-Et Theatre Reference and Administrative Details Tru$tee$ Ms Kerry Jane Andrew& Mr Thomas Michael Brain Ms Sarah Miranda Lowry (resigned 30 March 20221 Ms Renata Louise McDonnell {resigned 27 September 20221 Mr Mark Rupert Rowbotham Mr Roman Stefanski Ms Marie Homer (appointed 23 November 20211 Mr Baron AmlaKWantreng (appointed 1 December 20211 Mary Rebekah Kofokasumu (appointed 11 November 20211 Mrs Saswati Saha Mttra (appointed 11 November 20211 Ms Vese Aghoghoth'a {appointed 11 November 2021) Mrs Louise Kristensen (appointed 11 November 20211 Sanior Managemant T•am Ms Daphna Attias. Artistic Director Prlnclpal 0ffi¢g 3rd Floor 166 College Road Harrow Middlesex HA1 1BH The charity is incorporated in England and Wales. Company Reglstratlon NuMr 07827250 Charlty Roglstratlon Numb8r 1167647 IndOndent Examln•r Timothy Geddes, FCA, OChA 147 Glenam Road London E5 ONB A¢¢ountants MG Group IProfessional Services) Ltd 166 College Road Harrow Middlesex HA1 1BH Page 1
PeUt-Et Theatre Trustees. Report COMPANY MISSION AND BACKGROUND Peut_Ètre Theatre IPETI creates unforgettable early theatrical experiences for young audiences. The shows. workshops and educational programmes effectively combine the visual. the physical and the musical for the enjoyment and inspiration of Childn and families. Our work has an idiosyncrali¢ physical style and our ethos is to make it accessible to children of all abilities and backgrounds. Since 2008, PET has produced 10 fu114ength Productions. alongside other projects like research & development. workshops for children and professiona15, h05Pital residencie5 and creative programmes for in and oulpalienls. regular nab.onal and intematsonal touring. Thus far we have engaged wth over 65,000 audience members in 7 countries across 3 different continents. PETrecently expanded their W)rk into podcasting.. creative innovative new audio product5 that can reach young audiences, at home, in the classroom and in hospitsls. Audiomoves is a free podcast series that inspires chIldn to move an¢J ¢ale wlh screen-free acts'vity. Available through the company's website. all major podcast ¢hannels. and through Fun Kids Radio. the series has been hugely popular- greatty increasin9 PET'S reach and acting as a vital creative ouuel for young people. Al productions include a development penod where chIldn bttome part of the creative process. During our period as Artist in Residence al London's Greal Ormond Street Hospital IGOSHI in 2017, we created Tidy Up through a 3-week systematic participatory programme, engaging hospitalised children, their familie$ and dinical Staff. Tidy Up has sin enjoyed huge nats'onal and inlemalional success. As well as GOSH. PET has collaborated vAth and been supported by a variety of partners including.. University ol Oxford Natural History Museum, The In$blute of Sound and Vibration, The Wellcome Trust, The Royal Society for the Protection of Birds IRSPBI, Small Wonders, Lighthouse Poole and PASS Circus Channel. PET collaborated vh prestigious national venues such as.. Royal Albert Hall, South Bank Centre, National Theatre. Lyric Hammersmith. The Roundhouse, The Place. The Egg, Brighton Dome, Polka. The Curve, artsdepot. Bamsley Civic.. and inlemalionally lo The Lincoln Cenlre, NYC, USA. iTheatr8 Singapore, Israel Fe$twal for Children's Theatre, Ziguzajg Festival Malla, ASK China and more. ARTISTIC PROGRAMME AUDIOMOVES Podcast, Arts'sl Training & Educator Programme Follo¥Mng our pilot project in 2020. secured funding to create new episodes of Audiomoves. Audiomoves is a podcast to get big ones and litue ones moving. The short, accessible episodes are designed to encourage children to move, dance, and use their imagination with a screen-free activity. Episodes are released in line school holidays. and free to download from all rnajor podcast platform5. Durin this period 16 episodes 14 series) were created and released. Each series was directed by Peut- tre Theatre's Artistic Director. Daphna Atbas. and written in partnership by tsvo distinctive artists, explonng themes like light, forces and the weather. We a150 WTole and recorded episodes during this lime lo be released later in 2022. When developing Audiomoves we wanted to focus on what was happening to children during the pandemic, specrfically children wth drfferenl abiltb"es, and how we create digital content for them. Our goal wa5 to prowde ath"vits"es that could be accessed by Vl, SEND, ASD, PWMD, and hosprtalised children. Page 2
PeUt-Et Theatre Trustees. Report To do this we worked vthh a playworker to tn'al episodes V1h hospitalised children in Great Ormond Street Hospital, and incorporated their feedback into the episodes as they were developed. We also worked with a visually impaired Access Consultant. ¥tho ensured the language used in the podcast swas acce55ible 'Listened to the podcast wth a visualty impaired SeiCe user. We loved it $0 muchl It's absolutely brilliantl No screens needed. Just sounds and lots of imagination. I'm sharing it with everyone I can think ofl" Great Ormond Street Hosprtal staff member In January 2022 Audiomoves episodes were broadcasl ce a week for 12 consecub've weeks on Fun Kids Radio. During 202112022 we had 1.566 listens via po¢Jcast platfomis, and around 24,000 listens via broadcast on Fun Kids Radio. Audiomoves is a cornerstone of our organisational strategy to develop a mixed model of live and digital work. This model means that we can tsp into different audiences lin this instsnce, theatre goers and podcast lislenersl, and cross-ptsllinate our marketing to expand our reach. .1 think that il was really fun and l enjoyed rt a lotl It fell really relaxing as I look a deep breath in and out. Thank you '.}" Listener, age g Artist Training We invited 13 movement artists from diverse ba¢kground$ and disciplines Iconlemporary, Classical, Kathak, Circus etc.I to take part in Audiomoves trainiThJ. The training focused on three main areas.. Audio content Creation Movement description Access integration Following the training we paired the arbsls togelher and each pair was cornmissioned to Cowwrile a Series of the pcidcasl with support from the Artist Director, Access Associate and Movement & Podcast Consullanl, which allowed XX Arlisls to develop new skills and branch out lo new mediums of work. Educator Programme We developed a programme aimed lo give educators tools to ¢realively use the podcast in their respective settings. Through in-school W0$hOp$ ¢ated a resotjrce-pack wlh guidance on how to use the episodes in class las a sensory break. as part of PE. or to connect to other areas of the curriculum). The pack also indudes a lesson plan on how to write your own Audiomoves episode. We also developed an educator training programme which can be delivered live or online. "The structure is fantastic- the way it moves from wam) up. lo energising lo calm, is brilliant." Adrian Largo, year 4 teacher We partnered wth the Rural Touring Dance Inrtiatsve to collaborate wth Spot On Lanca5hire and Arts Alive lo exploie disseminating Audiomoves to thwr audiences. THE DARK Production and national lour of a Visualty Impaired (Vl) accessible dance-lhealre performance for children15+1. Page 3
PeUt-Et Theatre Trustees. Report 'The Dark, was our first live production since hawng to hall our live programming in March 2020. After bNo postponements, dictated by Covid-19 restrictions, we finally entered into production in January 2022. Based on Lemony Snickel's book 'The Dark,. we created a universal and empowering physical performance about facing one's fears. The story follows a brave young boy on his joumey to meet the darkness in his home's basement and watches as he eventually leams to befriend it. Working wlh a diverse team of 20 a"S15 and professiona15, who forged the company's idiosyncratic physical style, we merged slory-lelling. vibrant choreography. live music and singing into an ambitious and truly captivating piece of higqUality dance-theatfe. The show was really successfijl in addressing one of children's most innate fears, Ihe dark. 'A story of overcoming fear told cham, wt and ten¢Jemess. Thank you and never underestimate how important this work is, Parent al So(rthbank Centre 'Il was amazing and very funny. I thought rt was going lo be scary. bul then rt wasnl, Audience member (aged 81 It was our first book adaplabon and the first collaboration wlh a wodd-renowned writer, which left both parb'es really content. 'This is really so marvellous. A privilege lo behold." Daniel Handler ILemony Snickell on the show. 'The Dark, was made accessible to blind and wsually impaired children through.. An innovative inlegraled audio description -Pre-show touch tours -A¢ces$ible audio matheling assets. -Audio programme$ and flyers -Employing a blind access associate who focused on audience development in the blind and visually impaired communrties Working together vAth an experienced audio deSber and blind artist, leamt how to use these access tools to enable Vl audiences to closely follow the story. %thile allowng them to stay immersed in the theatrical experience. Removing the divide of headsets, which are a hindrance for people wth more complex needs, we managed to unite both Vl and sighted audiences in the auditorium. The touch tours also served to relax sighte¢J children. vA)o had expressed a profound fear of the dark, Into the show. 'Fanta5tic touch tour and audio descripts'on for my blind daughte Parent 'Our Childn and Young People had a fantastic b'me. Berkshire Vision We toured to 7 national venues across February and March 2022-. Canada Water Theatre The Albany Southbank Centre Hal Factory Luton South Street Art5 Cenlre, Reading Lighthouse Poole Page 4
PeUt-Et Theatre Trustees. Report The Eg9, Bath Despite touring post-pandemic, we exceeded all expectations in ternis of audience numbers. Across 14 performances and 7 touch IouT5. Y reached an audience of 1,571. 'Followng this success, ¥%e will be remounting the produclion in Autumn 2022 and Spring 2023. Fundraising & sustainabilty We were grateful lo Ceive support from a variety of lunds. Audiomoves was supported by Arts Council England & Audio Content Fund The Dark was supported by Arts Counal England, Awards For All. Backstage Trust & Royal Victoria Hall Foundation. We also received emergency funding from the Culture Recovery Fund DCMS Without this emergency support would not have been able to deliver the project in a post covid landscape. 11 enabled us lo deal the uneertainlie5 that the pandemic brought lo the theatre sector. FINANCIAL REVIEW Timothy Geddes was appointed a$ the chariWs independent examiner for the year. A resolution to reappoint him as independent examiner will be Proposed al the Annual General Meeting. The result lor the year en(Jed 31 March 2022 vras a surplus of £79.741 12021.. surplus £51,111) as sel out in the Stslement of Financial Acliwbes. PET'S principal sources of revenue are perfomiance fee$ an¢J grant funding. PET received £212.714 in grant funding during the year. PET'S free reserves * Ihe end of the year amounte(I 10 £29,365. Golng ¢on¢•rn The trustees recognise that the charity is facing an increasingly thallenging fvn¢Jing environment and is dependent upon securing grant funding to support rts planned activities and to contribute to core costs in the coming year. This dependence indicates the presence of a material uncertainty that casts doubt on the charity's ability to continue as a going concem. The trustees are confident that the charity's current funding bids and Confirmed income are sufficient lo meet ils liabilities as they fall due and that il is thefore appropriate lo Ppare the financial statements on a going concem basis. Prlnclpal rlsks and unc8rtalntles The principal risk for PET 1$ insLrfficient financial stability, Ithich hinders the charity's capability to confidently build and pursue long-term plans. The company is primarily dependent on project funding and box office income. and these revenue streams do not produce enough surplus to enable long-term growth. Secunng core funding is a key priority for PET. We also Intend to further diversify our funding portfolio In ordei lo duce reliance on govemmenl supportlMOU21 . Page 5
PeUt-Et Theatre Trustees. Report Covid-19's impact on the theatre sector has been a major risk to the company's work and financial stability. This has been and continues to be closely monitored, and trustees regularfy strategise wth Executive Directors to best mf(igate risks. The company has worked hard to mitigate financial losses through negotiation5 wlh partners on cancellatson fees. cautlOU5 planning for live work. extensive fundraising wort and developing a mixed model of live & digital V•Y)rf( to be resilient in the face of change. PET has a small core team. This has been idenlffied as a risk due lo the dependence of the organi5alional athvilie5 on minimal key 51aff. This nsk is included in the company Risk Register, and mib'gated as much as possible by shared resources. a pool ol associate artists know the companys work and can step in when needed. and reserves available to bring in additional. short-lerm support. Financial and risk managoment objectives and policies The board of trustees is responsible for the management of the risks faced by the charity. The charity has a fomal risk management process through vthich management identifies the major risks lo which the organisalion may be exposed and ranks these by likelihood and impact, culminating in a risk control document that is updaled on a regular basis. These risks a reviewed al board meetings throughout the year. The chariws adiviiies are largely project-based, and systems are in place to ensure that the charity's exposure is kept more or less in line with secured project funding. The Iruslees are sat15fied that systems have been developed and are in place lo mrti9ale identified risks lo an acceptsble level. Saltguardlng Rupert Rowbolham is the safeguardin9 officer for the company and regularty rewews the company policies. The saleguarding policies were revised lo indude online and digital safeguarding in light of the pandemic. TR RE VERNAN E AND MANA EMENT Govorn5ng documont The charity is controlled by its governing document. the Memorandum and Articles of Association, and constitutes a limited company, limited by gLrantee, as defined by the Companies Act 20C6. Organisalional structure Founded in 2008, PET was established in 2011 as a private limited company by guarantee and registered as a charity in June 2016. The company directors are also trustees of the board. Govornanc• & Manag•m8nt In 2021-2022 PET was managed by part-time members of staff.. Daphna Attias, the founder and Artistic Director, worked in a freelance capacity and led all arb'stic & educational projects. Bridle Donaghy wa5 appointed Producer of the company in April 2021. Maya Polilaki works In a freelance capacity as Associate Directoi and Development Manager. leading on writing fvndraising bids and reports for the ¢ompany. Page 6
PeUt-Et Theatre Trustees. Report PET worked with 39 freelan artists on different projects throughout this year including dancers, musicians, designers and workshop facilitators. The team is highly skilful in successfully managing the 10glStics of such a large and diverse group of artists. We are proud that many artists are long-term collaborators. Followng a skn'lls audit, and in response to the new direction the company took vhth digital worf(, we undertook a board development period which resulted in the recruitment of six new board members with a variety of skills spanning from podcast products"on, online marketsng, finance, school govemance & radio production. Our new board members were appointed on 111h November 2021. they are.. Vese Aghoghovbia founder of Philly & Friends, Children's Author, Diversity in the Playroom Advocate, Speaker and Serial Entrepreneur. Baron Amah-Kwantreng - Senior Policy adviser at The Boin Tumour Charity and runs The Hub Broadcasting. Marie Horner- Arts and Audio Producer, Consullant and Facilrtalor Louise Kristensen- Global Head of Partnerships for GSK Consumer Heatthcare Rebekah Kofo-Kasumu- Chartered A¢¢ounlant Saswali Saha Mitra- Research Director at WhalsApp 'I'm looking forwartj lo Supporting the fvlure of this smart, creative and ambth'ous dan¢e-Ihealre company. It's wonderfijl to be part of exploring new opportunities to bring different stories and experiencès lo children and their communities. espeually thinking about the ever%rowing worfd of podcasts.. Marie Homer .1 am beyond excited lo be supporting the fantastic leam al Peut-Étre Theatre.. their ability lo innovate and captivate during the uncertain limes in the theatre industry caused by covid, was nothing short of breathtaking. They never gave up on capturing the imagination of children vthen they couldn't do rt face to face, this has truly excited me into seeing what is to come and how I can support that joumey.. Rebekah KOKasumU Sarah Lowry resigned from board on 30 March 2022 and Renata L¢Juise Mct)onnèll resigned aftèr the year end on 27 September 2022 from the board. Registered Company number 07827250 (England and Wales) Registered Charity number 1167647 Independent examiner Timothy Geddes FCA, DChA Page 7
PeUt-Et Theatre Statement of Trustees. Responsibilities The trustees (who are also the directors of Peut-Etre Theatre for the purposes of company lawl are responsible for preparing the trustees. report and the finanaal statements in accordance with the United Kingdom Accounty'ng Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulation5. Company law requires the trustees to prepare finanrial stslemenls for each financial year. Under company law the trustees must not approve the financial ststements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its incoming resources and application of resources, induding its income and expenditure, for that period. In prepanng these financial slatemenls, the Iruslees are Tequired to". select suitable accounting policies and appty them consistentty., observe the methods and principles in the Charrties SORP-, make judgements and estimates that are reasonable and prudent., slate whether applicable UK Accounting Stsndards have been follov4ed, subject lo any material departu$ disclosed and explained in the financial slalements". and Ppare the financial slalemenls on the going concem basis unless rt is inappropriate to presume that the charitsble company wll continue in business. The trustees are responsible for keeping adequate a¢¢ounting rerS that are $uffi¢ient to show and explain the charitable company's transactions and disclose wth reasonable accuracy at any time the financial position of the Gharilable company and enable them to ensure that the financial 51alemenl$ cemply with the Companies Act 2006. They are also responsible for safeguarding the a55et5 of the charitable company an¢J hence for taking reasonable sleps for the prevention and detection of fraud and other irregularities. The Iruslee$ also confimi that they have made all necessary enquiries and taken such steps that they ought to, to ensure that they become aware of any relevant infomiation and that they confirm that the chorilable company's independent examiner have been made aware of such Infomialion. Approved by the trustees of the charity on 29 December 2022 and signed on its behalf by.. Mr Thomas Michael Brain Trustee Mr Mark Rupert Rowbotham Trustee Page 8
PeUt-Et Theatre Independent Examiners Report to the trustees of Peut-Etre Theatre I report on the accounts of the PeLrt Etre Theatre for the year ended 31 March 2022 which are set out on pages 11 to 21 .The financial repo.n9 framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards Iunrted Kingdom Generally Accepted Accounting Praclicel, including Finanual Reporting Standard 102. Rosp8ctiv8 responsibiliti of trustees and axamir As explained more fully in the Statement of Trustees, Responsibilities set out on page 8, the trustees, who are also the directors of the charity for the purposes of company law, are responsible for the preparation of the Annual Report and the financial statements in accordance wth the requirement5 of the Companies Act 20C6 (the 2006 Act). The Charity's trustees consider that an audit is not required for this year under Part 16 of the 2006 Act and Ihal an independent examination is needed. Having satisfied myself that the charity is not subject lo audit under cornpany law and is eligible for independent examination, Il is my responsibilrty to.. examine the accounts under secbon 145 of the 2011 Act." to follow the procedures laid down in the general Directions given by the Charity Commi$$ion under section 14515llbl of the 2011 Act,. and . to state whether particular mattels have come to my attention. Basis of Independent oxamlnor's roport My examination was carried out in accordance yth the general Directions given by the Charity Commission. An examination includes a review ol the accounting records kept by the charity and a comparison of the accounts presented wth those record5. It a150 includes consideration of any unusual items or disclosures in the a¢¢ounls. and seeking explanations from you as Iruslees conceming any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opini¢)n is given as lo ¥thelher the a¢counls present a 'true and fair view and the report is limited lo those matters set out in the statement below. Indondent examln•r'8 Statement In connection wlh my examination. no material matters came to my attention which gave me cause to believe that, in any material respect.. 1. accounting records were not kept in respect of PeLrt-Etre Thealre as required by seth'on 386 of the 2006 Act., or 2. the accounts do not accord with those records., or 3. the accounts do not comply wth the accounting requirements of section 396 of the 2006 Act other than any requirement that the a¢¢oun15 give a 'true and fair vievl vthith Is not a matter conSided as part of an independent examination". or 4. the accounts have not been prepad in ac¢ordan¢e the Charities Statement of Recommended Practice Accountsng and Reportj'ng by Charth'es IFRS1021. I have no concerns and have come across no other matters in connection with the examination to which attention should be dravm in this report in order to enable a proper understanding of the account5 to be reached. Page 9
PeUt-Et Theatre Independent Examiners Report to the trustees of Peut-Etre Theatre TCO Timothy Geddes FCA. DChA 147 Glenarm Road London E5 ONB 29 December 2022 Page 10
PeUt-Et Theatre Statement of Financial Activities for the Year Ended 31 March 2022 (Including Income and Expenditure Account Unrestrictod funds R•strict•d funds Total 2022 Note Income and EndowTnents from: Donations and legacies Charitable activities 18.123 11.697 194,591 212,714 11,697 Total Income 29.820 194,591 224,411 Exponditurg on: Charitable activities 4.000 140,670 144,670 Total Expenditure 4,000 140,670 144,670 Net income 25.820 53,921 79,741 Nel movement in funds 25.820 53,921 79,741 Roconclllatlon of funds Total lunds brought forward Total funds carried forward 455 52,235 51,780 12 25.365 10S,156 131,521 Vnrestrlctod funds Rostrlctgd funds Total 2021 Not• Incomo and EndONnentS from: Donations and legacies Charitable activities 76 1,200 84,420 84,496 1,200 Total income 1,124 84,420 83,296 Expenditure on: Charitable activities 32,185 32,185 Total expenditure 32,185 32,185 Nel lexpendrturellincome 1.124 52,235 51,111 Net movement in funds 11.1241 52,235 51,111 Roconclllation of funds Total funds brought forward 669 669 Total funds carried forward 12 455 52,235 51,780 All of the charity's activitie5 derive from continuing OperatnS duiing the above periods. The funds breakdown for 2022 and 2021 is shown in note 12. Page 11
PeUt-Et Theatre (Registration number: 07827250) Balance Sheet as at 31 March 2022 2022 2021 Curront assets Debtors Cash al bank and in hand 518 135,594 2.372 151,836 136,112 154,208 Crodltors.. Amounts falllng due V•ithin ono year Not as60ts 10 4,591 1102,428 131,521 51,780 Funds of th• charfty: Restrlcted funds 106,156 52,235 Unrostrictsd incomo funds Unrestrided funds 25,365 455 Tolal funds 12 131,521 51,780 For the financial year ending 31 March 2022 the charity was enb'ued to exemptson from audit under sects'on 477 of the Companies Act 2006 relating lo small companies. Directors. responsibilities.. The members have not required the charity to obtain an audrt of rts accounts for the year in question in accordance with section 476.. and The directors acknO%edge their responsibilities for complwng wth the requirements of the Act wth respect to accounting records and the preparatson of accounts. These accounts have been prepared in accordance vthh the provisions applicable lo companies subject lo the small companies re9ime. The Iruslees a¢knOe#Jge their responsibilities for lal ensuring that the charitable company keeps accounling records that comply wth Sections 386 and 387 of the Companies Act 2006 and Ibl preparing financial statements which give a true and fair wew of the state of affair$ of the charitable company as at the end of each financial year and of ils surplus or deficit for each financial year in accordance the requirements of Section 394 and 395 and which olherwse comply wlh the requirements of the Companies Acts 2006 relating lo financial statements, so far as appIlble to the ¢hantable wnpany. Page 12
PeUt-Et Theatre (Registration number: 07827250) Balance Sheet as at 31 March 2022 The financial ststements on pages 11 to 21 were approved by the trustees, and authorised for issue on 29 December 2022 and Signed on their behaW by.. Mr Thomas Michael Brain Trustee Mr Mark Rupert Rowbotham Trustee Page 13
Peut-Etre Theatre
Notes to the Financial Statements for the Year Ended 31 March 2022
1 Charity status
The charity is limited by share capital, incorporated in England and Wales.
The address of its registered office is: 3rd Floor 166 College Road Harrow Middlesex HA1 18H
These financial statements were authorised for issue by the trustees on 29 December 2022.
2 Accounting policies
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). They also comply with the Companies Act 2006 and Charities Act 2011.
Basis of preparation
Peut-Etre Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.
Going concern
The trustees recognise that the charity is facing an increasingly challenging funding environment and is dependent upon securing grant funding to support its planned activities and to contribute to core costs in the coming year.This dependence indicates the presence of a material uncertainty that casts doubt on the charity's ability to continue as a going concern.The trustees are confident that the charity's current funding bids and confirmed income are sufficient to meet its liabilities as they fall due and that it is therefore appropriate to prepare the financial statements on a going concern basis.
The company was successful in its application to the second round of Culture Recovery Fund grants. A restricted grant of £43,336 was received in April 2021.
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PeUt-Et Theatre Notes to the Financial Statements for the Year Ended 31 March 2022 Income and endovmients All income is recognised in the Statement of Finanaal ActiVeS once the charity has entitlernent to the funds, It is probable that the income wll be received and the amount can be measured reliably. Donations andlegaci•s Donations are recognised vh)en the charrty has been notsfied in Yrtiling of both the amount and settlement dale. In the event that a donation is subject to conditions that require a level of performance by the charity before the charity is entiUed to the funds, the income is deferred and not recognised until either those conditions are fvlly met, or the fulfilment of those conditions is wholly ilhin the ¢ontrol of the tharity and rt is pr¢)bable that these condthons wll be fvlfilled in the reporting period. Grants receivable Grants are recognised when the Charity has an en¢ement to the fijnds and any condilions linked to the grants have been mel. Where perfomance nditionS are attached to the grant and are yet to be met, the income is recognised as a liability and induded on the balance sheet as deferred income lo be released. Deferred Income Deferred income represents amounts received for fvlure periods and is released to incoming resources in the period for which, it has been receive(l. Such income is only deferred when.. The donor specifies that the grant or donation musl only be used in future accounting periods,. or The donor has imposed condibons which must be met before the charity has unconditional enlillemenl. Expendlturn All expenditure is recognise<l once there is a legal or nstru1Ve obligation to that expenditure, il is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attnbuled lo particular headings they have been allocated on a basis consislenl wlh the use of resources, th central staff cosls allocated on the basis of ts'me spent, and depreciats'on charges allocated on the ports'on of the asset's use. Other stjpport $t$ are allocated based on the spread of staff cosls.The charity is fbot registered for VAT and, accordingly, expenditure indudes irrecoverable VAT. Charltable actlvllles Charitable expenditure comprises those costs Incur by the charity in the delivery of ils activities and services for its beneficiaries. It indudes trK)th costs that can be allated directly to $u¢h a¢tivitie$ and those ¢ost$ of an indire¢t nature necessary to support them. Governance costs These include the costs attributable lo the charity's compliance with constf(ulional and stalulory requirement5. including audit. strategic management and trustees. rneelings and reimbursed expenses. Page 15
PeUt-Et Theatre Notes to the Financial Statements for the Year Ended 31 March 2022 Government grants Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relatsng either to revenue or to assets. Grants relating lo revenue are renISeLl in income over the penod in ¥thi¢h the related costs are recognised. Grants lating to assets are recognised over the expected useful life of the asset. Where part of a grant relab'ng to an asset is deferred. it is recognised as deferred income. Taxation The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore It meets the definitson of a charitable company for UK corporation tax purposes. Accordingly, the charity is polenbally exempl from tsxab.on in respect of income or capitsl gains received within categories CoVed by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusively lo chantable purposes. Tradfr dobtorn Trade debtors are amounts due from eJJ$tomers for merchandise sold or services performed in the ordinary course of business. Trade debtors are recognised initi'ally at the transaction price. They are subsequently measured al arnorb'sed c051 using the effective interest method, less provision for Impaimienl. A provision for the impairment of trade debtors is established when there is objeetive evidence that the tharity will not be able to collect all amounts due according lo the original lemis of the receivables. Cash and cash oqulval•nts Cash and cash equivalents comprise cash on hand and 11 deposits, and other short-temi highly liquid investments that are readily convertible to a known amount ol cash and are subject lo an insignificant risk ol change in value. Trade credltors Trade creditors are obligations to pay for goods or seThices that have been acquired in the ordinary urse of business from suppliers. Accounts payable are dassified as current liabilib'es il the charity does not have an unconditional right, al the end of the reporting period, to defer settlement of the creditor for at least tsyelve months after the repoth'ng date. If there is an unconditional right to defer 5elllemenl for at least twelve months after the reporting dale, they are presented 85 non<urrent Trade creditors are recognised initially at Ihe transaction price and subsequentty measured al amorts'sed cost using the effective interest method. Page 16
PeUt-Et Theatre Notes to the Financial Statements for the Year Ended 31 March 2022 Foreign exchange Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencie5 al the balance sheet dale are reported at the rates of exchange prevailing al that dale. Other exchange differences are recognised in the Statement of Financial Activities in the period in which they arise except for exchange differences on monetary items receivable from or payable lo a foreign operation for which settlement is neither planned nor likely lo occur Ilherefore forming part of the nel investment in the foreign operabonl, which a recognised in other comprehensive income and reported under equity. Fund structure Unreslricled income funds are general fijnds that a available for use al the tru5tee5' discretion in furtherance of the objeth'ves ol the ¢hanty. Reslri¢led funds can only be used for path'¢ular reslricted purposes vthin the objects of the charity. Restrictions arise when specified by the donor or vthen fvnds are raised for particular restricted purposes. Further explanation of the nature and purpose of each lund is included in the notes lo the financial slalements. Restricted income funds are those d¢)nated for use in a particular area or for specific purpo$e$, the use of which is restricted lo that area or purpose. 3 In¢omg from donatlons and grants Totsl 2022 Total 2021 Donations: Donations from companies, trusts and similar pro¢eed$ 76 Total donations Grants.. Government grants Othergrants: Arts Coun¢il England Grants receivable 76 3,428 194,591 18,123 80,992 Total other grants 212,714 80,992 Total grants 212,714 84,420 212,714 84,496 Page 17
PeUt-Et Theatre Notes to the Financial Statements for the Year Ended 31 March 2022 4 Income from charitablo acti¥iti•s Total 2022 Total 2021 Perfomance fees 11,697 1,200 S Expanditurn on charitable activities Unrestrictod funds Restricted funds Total 2022 Total 2021 G•n•ral Performance Cost Sundry Expense Staff costs Consultancy fee$ 4,000 106.187 19.944 10.509 4.030 110,187 19,944 10,509 4,030 19,962 10,328 1.895 4.000 140.670 144,670 32,185 6 Tru8ts•s remunoratlon and expen¥•# No Iruslees, nor any persons connected vth them. have received any remuneration, reimbursed expenses or any other beneffts from the ¢harity during the year. 7 Stsff ¢o¥ts The aggregate payroll costs were as follows.. 2022 2021 Staff costs durlng th8 yoar ra. Wages and 5alarie3 Pension costs 10,302 207 1.832 63 10,509 1.895 The aggregate payroll costs are excluding the remuneratson of key management personnel, which was £20,93212021.' £9,250). The monthly average number of persons (including senior management teaml employed by the charity during the year expressed as fultIme equivalents was as follows.. 2022 No 2021 No Arbstic director Support staff Page 18
PeUt-Et Theatre Notes to the Financial Statements for the Year Ended 31 March 2022 No employee received emoluments of MO than £60.000 during the year. 8 Taxation The charity is a registered charty and is therefo exempt from taxalion. 9 Dgblors 2022 2021 Trade debtors Prepayments Other debtors 77 418 23 419 1.953 518 2.372 10 Cr¢dltors'. amounts falllng duo wlthln one year 2022 2021 Trade creditors Other creditors Pension scheme creditor Accruals Deferred income 205 1,229 67 4,320 4.180 97.018 4,591 102.428 Analy$i$ of doforrnd Inc¢)mg 2022 2021 Balance brought forward Amounts released in the year Amount deferred in the year Balance carried forward 197,0181 97,018 145,1711 45,171 97,018 97,018 11 Pension and other schemes Defined contribution penyion Scheme The charity operates a defined conlribulion pension scheme. The pension cost charge for the year represents contriblrtions payable by the charity to the scheme and amounted to £20712021- £631. Page 19
PeUt-Et Theatre Notes to the Financial Statements for the Year Ended 31 March 2022 12 Fund$ Balanco at 31 March 2022 Balance at 1 April 2021 Income Expenditure Unrestricted funds General General 1455) 29.820 {4,0001 25.365 Rostrictod funds Arts Council Emergency Response Fund." for organisations Inon NPOI Art$ Council England.. Culture Recovery Fund - Grants programme Arts Council England.. Culture Recovery Fund - Conlinuty Support Arts Council National Lottery Project Grants- Audiomoves Awards for All Arts Council National Lottery Project Grants- The Dark Awards for All Recovery Fund.. Audiomoves Arts Council England.. Covid 19 Emergency Fund - Core Project Community Arts Fund.. Covid 19 Emergency Fund - Core Project Audio Content Fund". Audiomoves The Royal Virtoria Hall Foundation 5,546 (5,5461 46.689 31,121 140.4071 37,403 18.157 (5,0001 13,157 35.100 9.975 {8,0001 14,9751 27,100 5.000 20.720 {6,1711 14,549 9.947 (2,0001 7,947 41.703 141,7031 3.468 (3,4681 22.400 122,4001 2,000 1,000 1,000 Total re$tri¢tsd funds 52.235 194.591 140.670 106.156 Total fund$ 51,780 224.411 144,670 131,521 Balan¢• at 31 Mar¢h 2021 Balance al 1 April 2020 Income EXndItUrn Unrg$trf¢tsd funds General General 669 11,1241 {4551 Page 20
Peut-Etre Theatre
Notes to the Financial Statements for the Year Ended 31 March 2022
| Balance at | ||||
|---|---|---|---|---|
| Balance at 1 | 31 March | |||
| April 2020 | Income | Expenditure | 2021 | |
| £ | £ | £ | £ | |
| Restricted funds | ||||
| CAF Coronavirus Emergency | 3,428 | (3,428) | ||
| Ars Council Emergency | ||||
| Response Fund: for | ||||
| organisations (non NPO) | 34,303 | (28,757) | 5,546 | |
| Ars Council England: Culture | ||||
| Recovery Fund - Grants | ||||
| programme | 46,689 | 46,689 | ||
| Total restricted funds | 84,420 | (32,185) | 52,235 | |
| Total funds | 669 | 83,296 | (32,185) | 51,780 |
| 13 Analysis of net assets between | funds | |||
| Unrestricted | ||||
| funds | ||||
| Total Funds | ||||
| Restricted | at 31 March | |||
| General | funds | 2022 | ||
| £ | £ | £ | ||
| Current assets | 25,365 | 110,747 | 136,112 | |
| Current liabilities | (4,591) | (4,591) | ||
| Total net assets | 25,365 | 106,156 | 131,521 | |
| Unrestricted | ||||
| funds | ||||
| Total Funds | ||||
| Restricted | at 31 March | |||
| General | funds | 2021 | ||
| £ | £ | £ | ||
| Current assets | 101,973 | 52,235 | 154,208 | |
| Current liabilities | (102,428) | (102,428) | ||
| Total net assets | (455) | 52,235 | 51,780 |
14 Related party transactions
The key management personnel Ms. D. Attias as an Artistic Director and Producer was paid fees totalling £20,932 (2021: £9,250) in respect of services supplied to the company in her capacity as a professional theatre producer and director.There are no other related party transactions.
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