A company limited by guarantee
Report and Financial Statements For the Year Ended 30 June 2021
Company number 9649170
Charity Registration number 1171024
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Commentary on the Directors’ Annual Report and accounts:
The Alfred Fagon Award Limited
The company meets the Companies Act 1985 definition of a small company and does not exceed the Companies Act 1985 audit threshold. The directors, may therefore claim exemption from an audit under subsection (1) of section 249A of the Companies Act 1985 provided the audit exemption statement required by 249B (4) is made on the balance sheet.
The Directors’ Annual Report
The report includes a risk management statement which also refers to compliance with the applicable national standards. The company’s objects, aim, strategy and major activities undertaken are summarised in the objectives and activities section. The achievements and performance section provides a detailed information about the nature of the activities undertaken, including performance information.
Business Review
The Statement of Financial Activities reports the organisations activities as single line with an expanded analysis in the notes on page 11.
On the face of the balance sheet, the types of fund are disclosed including designated funds with the revaluation fund shown separately, as required by Company Law.
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(A company limited by guarantee)
Financial Statements For the Year Ended 30 June 2021
Contents Page
Legal and Administrative Information Activities Report Statement of Financial Activities Balance Sheet Notes forming part of the financial statements
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Legal and Administrative Information
The Board presents its report and financial statements for the year ended 30 June 2021.
Reference and Administrative Information
Company Name: The Alfred Fagon Award Limited Company registration number: 9669170 Charity registration number: 1171024 Registered Office: 16 Kings Grove, London, SE15 2NB
Board of Directors: Yvonne Brewster OBE Sheelagh Killeen James St. Ville Olusola Oyeleye Brian Walters Patron: Baroness Floella Benjamin, DBE
Bankers – Santander, Bootle, Merseyside, L30 4GB.
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Purposes and Aims
Our company’s purposes as set out in the objects contained in the company’s memorandum of association are to:
To promote, maintain, improve and advance education and the encouragement of the arts in particular by the recognition and promotion of plays by British writers of Caribbean and African descent in the art of drama.
To run an annual playwriting competition open to Black British playwrights of Caribbean and African descent living in the UK and to award a prize for Best New Play of the Year to the winning playwright.
To award the annual Roland Rees Bursary to a recipient as decided by the Trustees. The bursary, up to £3,000 is awarded annually to enable a playwright to devote more time to their writing.
To actively seek out partnerships to help and support writers.
Ensuring our work delivers our aims
We review our aims, objectives and activities each year. This review looks at what we achieved, the outcomes and success of our work in the previous 12 months.
The review also helps us ensure our aim, objectives and activities remained focused on our stated purposes. In particular, the directors consider how planned activities will contribute to the aims and objectives they have set.
Activities Report
July – December 2020
As per last year we were able to continue to operate during this financial year despite national lockdowns and restrictions caused by the pandemic. A major consequence of the pandemic was not being able to hold our live annual awards ceremony at our host venue, National Theatre. Instead we created an online winners announcement in partnership with the NT which was recorded and broadcast on the National Theatre’s YouTube channel and uploaded to the AFA website, where it remains as part of our archive. Best New Play of the Year was awarded to Juliet Gilkes Romero for her play The Whip . The Roland Rees Bursary was awarded to Kalungi Ssebandeke. The filmed awards gave us the opportunity to include an interview with the winner of Best New Play of the Year, and include an audio extract from the winning play, supplied by the Royal Shakespeare Company who had staged on the play prior to the first national lockdown. The winners announcement also widened our reach beyond the usual live audience in a theatre circa 100 to a viewing audience of 312 on the night of the winners’ announcement. By 9[th] December 2020 the viewing figures were over 3,300 and tweets were up by over 790% on 2019 figures to 188.4k impressions.
January - July 2021
2021 is the twenty-fifth year of the Award.
Our discussions, started last year, with the estate of playwright Mustapha Matura continued and resulted in a framework to run and deliver the Mustapha Matura Award and Mentoring
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Programme. The inaugural award was launched alongside the AFA in April. This additional work will ensure the continued sustainability of the Awards and along with the additional fundraising, build resilience for the Awards long-term.
Fundraising
The company is a not-for-profit organisation.
We currently receive regular funding from The Peggy Ramsay Foundation and the Roland Rees Estate. Additional funding for the Mustapha Matura Award and Mentoring Programme has been raised from individual donors, Ingrid Selberg, The Henry Kent Trust and The Garrick Charitable Trust. The grant from the Garrick Charitable Trust is £4,500 over three years with the first payment of £1,500 received in February 2021.
The grant from The Peggy Ramsay Foundation was received in August 2021. The donation from the Roland Rees Estate will be received by October 2021.
Funding has also been raised from Black Network via The Funding Network for the In Conversation With… project. Concord Theatricals (Concord Music) donated towards the 25 Black Champions of Theatre project.
The Fagon family donation continues to be allocated to the payment of the readers at £500 per reader per annum as this enables modest reserves to build up from other funding.
The Alfred Fagon Award was registered as a charity at Charity Commission on 6th January 2017. The board is formulating a fundraising strategy to raise additional funds to support the Awards. We are registered for gift aid and claimed gift aid on the donations received from the Roland Rees Estate. Gift aid has been claimed on donations from individual donors during the current financial year.
The future and Coronavirus (COVID-19)
The theatre industry was still affected by the global pandemic caused by Coronavirus. The UK Government locked down the country twice more between September 2020 and June 2021. This meant that all businesses and public activity stopped and people were required to stay at home. Many industries and sectors of the economy were at risk of survival and this continues to be the case post-lockdown as easing and ending of restrictions happened at different times throughout the four countries of the UK. Government support for some sectors and freelance workers with furloughing and the Self-Employed Income Support Scheme will finish in October 2021. The theatre industry is slowly recovering but was severely damaged by the lockdowns and some theatres closed or made staff redundant.
Structure, Governance and Management
Governing Document
The organisation is a company limited by guarantee, incorporated on 30 June 2015. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.
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Recruitment and Appointment of directors
We currently have 5 directors: Yvonne Brewster OBE Sheelagh Killeen James St. Ville Olusola Oyeleye Brian Walters
Organisational Structure
The Alfred Fagon Award operates with a part-time freelance Administrator and Creative Producer, and Chair of the judging panel.
They engage practitioners and contributors on a freelance basis for each project.
The board of directors meet quarterly with the Administrator and Creative Producer, Chair of the judging panel to discuss the work of the company. Meetings are quorate with an agenda and are minuted.
Company law requires the Board to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the company should follow best practice and:
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select suitable accounting policies and then apply them consistently;
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make judgements and estimates that are reasonable and prudent; and
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prepare the financial statements on the going concern basis unless it is not appropriate to assume that the company will continue on that basis.
The Board is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 1985. The Board is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Members of the Board who are directors and who served during the year and up to the date of this report are set out on page 6.
Auditors
For the year ending 30 June 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
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These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies’ regime.
Approved by the Board on: 7 December 2021
and signed on its behalf by:
(Director)
3 March 2022
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Statement of Financial Activities (including Income & Expenditure Account) for the year ended 30 June 2021
| Notes Income Incoming resources from generated funds: Voluntary income: Donations and grants (1) Earned income (2) Fundraising (3) Gift aid (4) Total incoming resources Expenditure Expending resources from generated funds: Company administration Marketing Award administration Governance PayPal transaction fees projects: Best New play of the Year prize Roland Rees Bursary Readers Total resources expended Net income for the year. (Net incoming resources before other recognised gains) Other recognised gains Gain on revaluation of investments Net movement in funds Reconciliation of funds Total reserves brought forward Total reserves carried forward |
Unrestricted Funds 2021 £ 26,815 0 2,215 29,030 53 919 3,633 43 171 6,000 3,000 1,000 14,819 0 0 0 20,986 35,197 |
Total Funds 2020 £ 6,000 0 3,606 875 10,481 26 829 4,912 40 0 6,000 3,000 850 15,656 0 0 0 26,161 20,986 |
|---|---|---|
The statement of financial activities includes all gains and losses in the year. All incoming resources and resources expended derive from continuing activities.
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Balance Sheet as at 30 June 2021
| Notes Fixed Assets Tangible assets Investments Current Assets Stock Debtors Cash at bank and in hand Creditors: amounts falling due within one year Net Current Assets Net Assets Unrestricted funds Designated funds Revaluation funds General funds Restricted funds |
2021 £ 0 0 0 0 35,197 0 35,197 0 0 0 0 0 |
|---|---|
Total Funds
35,197
These accounts are prepared in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities.
Approved by the Board on: 7 December 2021
and signed on its behalf by:
(Director)
3 March 2022
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Notes forming part of the financial statements
- Grants and donations: Peggy Ramsay Foundations - £10,000 Sheelagh Killeen Rees - £3,500 Ingrid Selberg - £1,500 The Henry Kent Trust - £1,500 The Garrick Charitable Trust - £1,500 The Funding Network - £4,790 Judy Daish - £500 Errol Lloyd - £35 Rebecca Nemser - £100 Emma Young - £50 B. Rasmussen - £50 Kiran Mathrura - £3,000 Lars Selberg - £250 Sophie Flinder-Price - £40
2. Earned income:
Zero.
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Fundraising: Zero
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Gift aid: £2,215
Additional notes
1. Accounting Policies
The principal accounting policies are summarised below. The accounting policies have been applied consistently throughout the year and in the preceding year.
(a) Basis of accounting
The financial statements have been prepared under the historical cost convention, as modified by the inclusion of fixed asset investments at market value, and in accordance with the Companies Act 1985 and the Statement of Recommended Practice : Accounting and Reporting by Charities issued in March 2005.
(c) Incoming resources
All incoming resources are included in the statement of financial activities. Voluntary income is received by way of grants, donations and gifts and is included in full in the Statement of Financial Activities when receivable.
(d) Resources expended
Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is reported as part of the expenditure to which it relates:
Governance costs include those costs associated with meeting the constitutional and
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statutory requirements of the company.
All costs are allocated between the expenditure categories.
(e) Fixed assets
The company does not have any fixed assets at finance year ended 30 June 2021.
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