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2026-07-31-accounts

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Thinktank Theatre (Streatham Space Project)

Charitable Incorporated Organisation (CIO)

CONTENTS Page
Reference and Administrative Details 1
Trustees’ Report (including Chair’s 2-4
Report)
Statement of Financial Activities 5
Balance Sheet 6
Notes to the Accounts 7-10

Page 1

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Reference and administrative information for the period ended 15 May 2026

Registered Charity Number 1172475 Registered Office 16 Louvaine Road London SW11 2AQ Trustees Trustees in office from 1 April 2025 to the date of this report are as follows: Brian Harris (Chair) Kate Anderson Edua Effiom Jennifer Grainger Jayson Harris Karen Di Lorenzo David Money Yassine Senghor Bank NatWest Norbury Branch 1393 London Road London SW16 4AL

Page 2

ThinkTank Theatre (Streatham Space Project)

Charitable Incorporated Organisation (CIO)

CHAIR’S REPORT AND THANKS

In our report of 2024/25 we reported on the decision of the Board to start the process to wind down the operation, with the intention of ceasing trading from April 2025. We relinquished the lease on the Streatham Space Project building from May 2025, and ceased activities from this point. Since then we have undertaken the remainder of the winding up processes, closing the trading company, cancelling contracts and services and collecting funds owed to the Charity by HMRC. These tasks have been led by Karen Di Lorenzo (Chair of Finance) and we are especially grateful for her efforts.

It is of course sad and disappointing, for all, that this is our final report and that we were not able to continue the valuable work of the charity and keep the building operating and the programmes in place. We were faced with the increasing costs of running the building and employing the staff, increasing difficulties in finding affordable exciting programme and most significantly increasing difficulties in attracting funding and other support from trusts and foundations, sponsors and the local authority.

As this is our final report its worth looking back at the very considerable cultural and community success of the project. Many sectors of the local communities were engaged in our programmes and used the building including schools, young people, the elderly and most of the diverse communities of this part of London. As a result of our programmes, performances, workshops and exhibitions, and especially our offer of space and resources , there are numbers of performers, theatre and dance companies, musicians and visual artists who have gone on to a very successful career.

Throughout our operation we have been fortunate in having a very strong board of trustees who have freely given of their time and expertise. I’m most grateful to them all, past and present. We have also benefitted from excellent paid staff and we are most grateful for all that they contributed to the project and wish them well in their on-going arts careers.

From the outset in 2017 our operating model was dependent on fundraising especially from trusts and foundations and until last year we had an outstanding track-record in attracting considerable sums from these sources. We are most grateful to all those that supported the operation and programme. Local business and individuals were key supporters and we thank them for their engagement over the 9 years. It is unfortunate that Lambeth Council were never able to offer continuing revenue funding; although their project funding and use of the building was helpful it never provided the solid base needed.

We have worked hard during this closing down period to ensure we meet all of the debts and other responsibilities and this we have achieved.

The building owners and the Council are currently looking for new operators for the centre (via a tendering process) and we offer our best wishes to whoever takes it on.

Brian Harris MBE, Chair of Trustees

Page 3

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Report of the Trustees

OBJECTS AND ACTIVITIES

The objects of the CIO are:

To promote, maintain, improve and advance education in and appreciation of the arts in all forms among the people of Streatham and the surrounding area.

  1. To promote for the benefit of the inhabitants of Streatham and the surrounding area the provision of facilities for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, infirmity or disablement, financial hardship or social and economic circumstances or for the public at large in the interests of social welfare and with the object of improving the condition of life of the said inhabitants.

Nothing in this constitution shall authorise an application of the property of the CIO for purposes which are not charitable.

As outlined above and as reported in our 2024/25 report, in 2025 the charity recognised that it was not a going concern and therefore ceased trading from April 2025.

During the period of this report the charity relinquished the lease on its building in May 2025 and made the last member of staff redundant in May 2025. Trustees have used the remainder of the period to realise maximum benefits for the charity from the remaining assets, including seeking and receiving refunds from HMRC to cover maternity pay, and to settle remaining creditors.

The charity has zero net assets at the time of writing and intends to formally wind down as an entity as soon as possible. In taking these decisions, Trustees have had due regard to guidance on public benefit published by the Commission.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity was established in 2017 and is controlled by its governing document, a constitution.

Charity constitution

Streatham Space Project is constituted as a Charitable Incorporated Organisation (CIO).

Recruitment and appointment of new trustees

The charity is governed by its board of trustees who are appointed under the terms of the constitution. The Board must consist of at least five but no more than fifteen trustees.

New trustees are proposed by serving trustees and elected with a majority vote by the existing trustees. Proposed trustees are invited to meet with the chair, Creative Director and Executive Director and to observe a quarterly meeting. If, after this, potential trustees wish to serve on the board, the existing trustees will then decide whether or not to invite them to become a trustee. The trustees are also the members of the CIO.

Page 4

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Report of the Trustees (cont’d)

When considering appointing new trustees, the Board has regard both to the charity’s need for any specialist skills and to the diversity of the Board’s membership.

Induction and training of new trustees

Newly appointed trustees undergo an induction process including briefing them on their responsibilities as trustees, decision-making processes, the charity’s governing document, the strategic plan and recent financial performance, and the latest set of the accounts of the charity.

Organisational structure

The board of trustees meets at least four times a year.

Decision making

Decisions are reached by consensus or, when necessary, by majority vote among the (at minimum) two voting members attending.

Risk management

The trustees have a duty to identify and review the risks to which the organisation is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.

The Trustees’ risk management strategy comprises of a comprehensive budgeting and planning system with an annual budget; regular meeting of the Finance Subcommittee; monthly review of the management accounts vs budget.

The Trustees identified and reviewed the major risks to which the charity is exposed on a regular basis.

Financial reporting

The financial statements comply with current statutory requirements, the charity's trust deed and the statement of Recommended Practice - Accounting and Reporting by charities: SORP applicable to charities preparing their accounts in accordance with FRS 02. As the charity’s turnover in 2025/26 was under £10,000, Trustees have not requested that there be an independent examination of the charity’s accounts.

The report was approved by the board on 1 June 2026 and was signed on its behalf by:

………………………..

Brian Harris Chair of Trustees

……………………….. Karen Di Lorenzo Trustee

Page 5

0

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Statement of Financial Activities - Analysis of Income

Notes
Income and Endowment from
Donations Grants
2a
Charitable Activities
2b
Fundraising activities
2c
Other incoming resources
2d
Total incoming resources
Expenditure on
Fundraising activities
Charitable activities
Total resources expended
3
Net Income/Expenditure
Net movement in funds
Reconciliation of funds
Total funds brought forward at 31 March 2025
Total funds carried forward at 31 March 2026		 General Fund
Designated
Fund
Restricted
Fund
2024 Total
General Fund
Designated
Fund
Restricted
Fund
2024 Total
£
£
£
£
£
£
£
£
101
0
0
101
18,852
41,250
60,102
0
0
0
0
101,182
101,182
3,965
0
0
3,965
8,923
8,923
152
0
0
152
763
763
4,217
0
0
4,217
0
129,720
0
41,250
170,970
0
0
0
0
0
0
7,038
0
0
7,038
145,648
41,250
186,898
7,038
0
0
7,038
0
145,648
0
41,250
186,898
(2,820)
0
0
(2,820)
(15,928)
0
0
(15,928)
(2,820)
0
0
(2,820)
(15,928)
0
0
(15,928)
2,821
0
0
2,821
18,749
0
0
18,749
0
0
0
0
2,821
0
0
2,821
1 April 2025 - 15 May 2026
1 April 2024 - 31 March 2025		 General Fund
Designated
Fund
Restricted
Fund
2024 Total
General Fund
Designated
Fund
Restricted
Fund
2024 Total
£
£
£
£
£
£
£
£
101
0
0
101
18,852
41,250
60,102
0
0
0
0
101,182
101,182
3,965
0
0
3,965
8,923
8,923
152
0
0
152
763
763
4,217
0
0
4,217
0
129,720
0
41,250
170,970
0
0
0
0
0
0
7,038
0
0
7,038
145,648
41,250
186,898
7,038
0
0
7,038
0
145,648
0
41,250
186,898
(2,820)
0
0
(2,820)
(15,928)
0
0
(15,928)
(2,820)
0
0
(2,820)
(15,928)
0
0
(15,928)
2,821
0
0
2,821
18,749
0
0
18,749
0
0
0
0
2,821
0
0
2,821
1 April 2025 - 15 May 2026
1 April 2024 - 31 March 2025
(15,928)
0
0
(15,928)
(15,928)
0
0
(15,928)
18,749
0
0
18,749
2,821
0
0
2,821

Page 6

1

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Balance Sheet
Notes
Fixed Assets
Tangible Assets
7
Current Assets
Stocks
Debtors
10
Cash at bank and on deposit
Current Liabilities
Amounts falling due within one year
11
Net current assets
Net assets
Funds
General Funds
Designated Fund
Restricted Funds
Total Funds
12		 15-May-26
£
0
0
0
0
0
0
0
0
0
0
0
0
0		 31-Mar-25
£
0
0
0
8,189
4,099
12,287
(9,466)
2,821
2,821
2,821
0
0
2,821

The notes on pages 7-11 form part of these accounts

Approved on behalf of the Trustees by:

Brian Harris

Chair of Trustees

Karen Di Lorenzo

Trustee

Date: 2 June 2026

Page 7

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Notes to the Accounts

1 Accounting Policies

a) Basis of preparing the financial statements

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1[st] January 2029) Charities SORP 102).

b) Cash Flow Statement

As a small charity, the charity is not required to prepare a cash flow statement under the exemption under SORP (FRS 102) for Charities with an income of less than £500,000.

c) Tangible assets

Individual fixed assets costing £1,000 or more are capitalised at cost. Depreciation is provided at rates calculated to write off the cost of each asset over its expected life as follows:

d) Incoming Resources

All incoming resources are included in the Statement of Financial Activities when:

e) Expenditure

As a non-company Charity expenditure is recognised on the accruals basis under SORP (FRS 102). All costs which can be directly attributable to charitable activities are allocated thereto. It is not considered that any purposes would be served in apportioning support costs to particular charitable activities as to do so would be arbitrary and could be misleading.

f) Fund accounting

Funds held by the Charity are either:

Page 8

ThinkTank Theatre (Streatham Space Project)

Charitable Incorporated Organisation (CIO)

Notes to the Accounts (cont’d)

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

g) Taxation

The Charity is entitled to claim Theatre Tax relief. As a registered charity (1172475) it is exempt from taxation on investment income applied for charitable purposes and form taxation on capital gains. The Charity is standard rated for VAT. The VAT number is 284677355.

h) Debtors

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

i) Creditors and provisions

Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result from the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement value after allowing for any trade discount due.

j ) Financial instruments

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

k) Significant accounting estimates and judgements

The Charity’s estimates and assumptions and based on historical experience and expectation of future events are reviewed annually. Further information about key assumptions concerning the future, and other key sources of uncertainty, are set out in the notes.

l) Pensions

The company contributes to a defined benefit contribution scheme for the benefit of its employees. Contributions payable are recognised as expenditure when due.

j) Reserves policy.

In setting the level of reserves the Trustees have considered the costs to which the Charity is committed on a continuing basis and the length of that commitment.

Page 9

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

Notes to the accounts for the period ended 15 May 2026

2 Statement of Financial Activities - Analysis of Income

Unrestricted
Funds
Restricted
Funds
Total 2026
aGrants and Donations
Grants for core activities - Public Bodies
0
0
0
Grants for core activities - other Foundations and
Trusts
0
0
0
Other donations/memberships
101
101
101
0
101
b Incoming resources from charitable activities
Charitable activities
0
0
0
0
0
0
c Other trading activities
3,965
3,965
d Other incoming resources
Inter-company adjustments
0
0
0
Sundry income
152
0
152
Total incoming resources
4,217
0
4,217
`
3 Statement of Financial Activities - Analysis of Expenditure
Expenditure on charitable activities comprised:
Unrestricted
Funds
Restricted
Funds
Total 2026
Production Costs
0
0
Premises
888
888
Office Costs
(1,250)
(1,250)
Fundraising costs
0
0
Marketing costs
0
0
Staff costs
7,361
7,361
Independent examiners fees
0
0
Bank charges
39
39
Depreciation
0
0
7,038
0
7,038
1 April 2025-15 May 2026
1 April 2025-15 May 2026		 Unrestricted
Funds
Restricted
Funds
Total 2025
15,000
15,000
6,000
26,250
32,250
12,852
12,852
18,852
41,250
60,102
101,182
0
101,182
101,182
0
101,182
8,923
8,923
0
0
0
763
0
763
129,720
41,250
170,970
Unrestricted
Funds
Restricted
Funds
Total 2025
13,296
29,219
42,515
45,262
45,262
10,172
10,172
0
0
5,302
5,302
70,808
12,031
82,838
0
0
383
383
425
425
145,648
41,250
186,898
1 April 2024-31 March 2025
1 April 2024-31 March 2025

Page 10

ThinkTank Theatre (Streatham Space Project) Charitable Incorporated Organisation (CIO)

4 Staff costs and numbers

Salaries
Social Security
Pension
Other costs		 2026
2025
6,626
73,791
616
3,413
118
859
0
7,361
78,062

The average number of full time employees during the year was 0 (2025:3) No members of staff had emoluments in excess of £60,000 for the year (2025:0)

Staff costs include £1,685.19 statutory redundancy pay and £3,552 accumulated holiday pay due at end of employment for one member of staff.

5 Trustees remuneration and expenses

None of the Trustees were employed during the year (2025:0) and none received expenses (2025:0)

6 Key Management Personnel

The key management personnel of the charity are those persons having authority and responsibility for planning, directing and controlling the activities of the entity, directly or indirectly, including any trustee of the entity. As the charity ceased operations from May 2025, the total employee benefits including employer pension contributions of the key management personnel amounted to £0 (2025: £34,285)

7 Fixed assets
Cost
As at 31 March 2025
Additions
At 30th April 2026
Depreciation
As at 1 April 2025
Charge during the year
Net book value as at 30 April 2026
Net book value as at 31 March 2025		 Theatre
Fixtures and
Fittings
£
8,374
0
8,374
8,374
0
8,374
0
0		 Office
Equipment
2026 Total
£
£
2,567
10,941
0
0
2,567
10,941
2,567
10,941
0
2,567
10,941
0
0
0
0

8 Fund Balances

a General Fund - £0

The Charity has no general funds at year end.

b Restricted Fund - £0

9 Grants/Donations/memberships incoming resource
Donations/Memberships		 Brought
Forward
resources
£
0
0
s		 Incoming
Resources
£
0		 Outgoing
Resources
£
0		 2025 Carried
Forward
£
0
101
101

Page 11

ThinkTank Theatre (Streatham Space Project)

Charitable Incorporated Organisation (CIO)

10 Debtors
Trade debtors
Prepayments
Other debtors		 2026
2025
£
£
0
6,259
0
0
0
1,930
0
8,189

Trade debtors at 31 March 2025 comprised a PAYE repayment due from HMRC. This was received, together with accumulated interest (£150.50) in December 2025.

Other debtors included £1,500 inter-company payment received in 2025-26 plus sundry debtors all received in year.

11 Creditors
Trade creditors
VAT
Social Security and other taxes
Other creditors
Accruals and deferred income		 2026
2025
£
£
0
6,896
0
856
0
725
0
123
0
866
0
9,466

All creditors have been paid during the financical year.

12 Analysis of net assets between funds
Fixed Assets
Current assets
Current liabilities
Total Fund Balances at 15/05/2026
Total Fund Balances at 31/03/2025		 Restricted
Funds
£
0
0
0
0
0		 Unrestricted
funds
£
0
0
0
0
2,821		 2026 total
£
0
0
0
0
2,821		 2025 total
£
0
12,287
(9,466)
2,821
2,821