R•glstered number.. 09021628 Charity number: 1173766 CHINA PLATE THEATRE LTD (A Gompany limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
CHINA PLATE THEATRE LTD (A company limited by guarantee) CONTENTS Page Trustees. r8POrt Independent examinerfs report Statement of financlal actlvltles 10 BalanGe sheet Notes to the financlal statements
GHINA PLATE THEATRE LTD (A company Ilmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the financial statements of China Plate Theatre Ltd for the period 1 April 2023 to 31 March 2024. The Annual report serves the purposes of both a Trustees, report and a directors, report under company law. The Trustees confimi that the Annual report and financial statements of the chantable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard appliGable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019}. Since the charity qualifies a¥ small under section 382 of the Companie6 AGt 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. In reporting on the period 1 April 2023 to 31 March 2024, the Trustees of China Plate would like to offer thanks to the funders, stakeholders, partners. staff. and treeIanrS who supported the company this year. ObJectlve8 and actlvitles a. Polieio$ and objoctlves To advan the arts for the public benefit by the promotion in particular, but not exclusively, of the arts or drama. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit.. running charity (PB2)'. To advance the Objects the Company has adopted the following mission". to challenge the way perfomance is made. who it's made by and who gets to experience iL b. Actlvltles undertakon to further the charlty's purposes for the publlc benefft China Plate is an independent producing studio based in Birmingham and working across the West Miolands, the UK, and intemationally. Established in 2006, China Plate became a charttable company in 2017. We help people to make creative projects happen - from theatre shows, to audio anthologies, to bus stop galleries. We believe that projects like these can change the world for the tetter. We also believe that we have the best Chan of making change when our work is accessible and inclusive. At the start of financial year 2023124, we embarked on a new Business Plan. At the heart of this plan is our newly revised mission to open up the way performance is made, who makes it, and who gets to experien it. We deliver this missron across three areas of work.. our Creative Programme, Creative Development, and Training and Development. Creative Programme Our Creative Programme brings outstsnding work to audiences across the UK and intemationally. We prioritise touring.- although this is increasingly difficult in the current financial dimate. we believe that it is vital to our mission to open up who gets to experience live performance. Page 1
CHINA PLATE THEATRE LTD
(A company limited by guarantee)
TRUSTEES, REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
Objectlves and activlties (contlnued)
Our work this year induded:
Wuthering Heights, a co-production with Inspector Sands, Royal and Demgate Northarnpton, and Oxford
Playhouse which toured to six regional venues.
'Both silty and deadly serious to the end. this is Wuthering Heights with its jagged edges restored. full of
moroseness but weirdly, wonderfully, entertaining.. Five Stars, The Guardian
The revival of A Family 8usiness. our co-production wÉth Staatstheater Mainz in association with Thèatre de la
Ville de Luxembourg, explonng the urgent case fof nuclear disarmament and the remarkable story of the Treaty
on the Prohibition of Nuclear Weapons (TPNW). Co-created with an intemational community of disarmament
experts and activists, this year the show toured to Germany. Luxembourg and eleven regional UK venues. Lead
artist Chris Thorpe was invited to discuss it at the State Parties Meeting of the TPNW in New York.
'There's thought provoking theatre and then there's the kind of theatre that changes part of who you are.
Backstage Bnstoi
Talking About The Fire is a one-man version of A Family Business. able to reach venues and non-traditional
spaGes which might not be able to accommodate the full show. It premieied at London's Royal Court Theatre In
December 2023.
"It's all masterfully put together... this show culminates in an encounter that allY puts the 'alive' into 'live
theatre." Five Star5, Time Out
In delivering on China Plate's mission. we a also increasingly making work outside of the theatre, producing in
new forms that allow us to work with and reach new people.
One example is Humans Not Heroes, an ongoing audio anthology of stories co<reated with NHS workers,
documenting their experiences of the pandemic and beyond. It is made in partnership with Coventry University.
In 2023 we established a new partnership with the Royal College of Nursing, and from May to September 2023
the Humans Not Heroes stories were part of their Unmasked exhibition in London. This exhibits'on then
transferred to Edlnt)urgh from November 2023. Meanwhile, the bus stop galleries we co
CHINA PLATE THEATRE LTD (A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED} FOR THE YEAR ENDED 31 MARCH 2024 Objectives and actFVities Icontinued) 'Doors have been opened in my mind. The questions raised have been raised many times before, but this session has asked them from a different perspecttve and has made me consider things differently." National Trust Volunteer In 202314 we had a strong focus on developing work driven by Black artists and ¢ative teams for production in 2024125 and beyond.. Please Do Not Touch,. Trash by Urieiie Klein-mekongo, exploring sugar baby relationships,.
50Days, a grime musical about the English Civil war wntten by history teacher Thabo Stuck; TO The Streetsl
major new musical in dev@lopm&nt. written by Roy Williams and Tim Sutton and telling the story of the Bristol Bus Boycott. Training and Development Producers are the engines that make creative projects happen, and because of this they are often decision- makers in the arts, greenlighting productions. Through our training and development programmes, China Plate nurtures the next generatson of producers, with a focus on people underrepresenterj in the producing workforce. In this way, we open up who will hold decision-makn'ng power in our industry in the future. Pro9rammes this year inGluded. The Optimists, our annual three-month IntroduGtion to Producing course., RISE, our youth-led careers event,. Associate PrOdur$. our ongoing scheme which helps us to ensure that our projects are produced by people with lived understsnding of the communities that the work most c105ely relates to. We also launched a brand-new strand of prodUr development work with People-Focused Producing, a programrne of one-off, free sessions which are particularty designed for community organisers and group leaders who may not yet think of themselves as 'producers'. Of Optimists participants this year, 54Vo of our participants were from Global Majority backgrounds, ancl 620/0 were Dldeaf, disabled. neurodiverse, or had chronic health conditions. These percentsges are higher than the UK population, let alone the arts workforce., the aim is to address underrepre5entstion and overcome barriers to entry. .1 didn't expect to come out on the other end having gained so much personal grovrth and industry insight. This is one of the onty programs that has been able to accommodate my needs and abilities, and I feel that's what's made it possible for me to continuelstay on to the end." Optimist 2023 The first year of our new Business Plan has seen China Plate's work flourish across our Creative Programme. Creative Development, and Training and Development strands. We are working in more co-creative, community- led. and inclustve ways than ever before and equipping new producers with the skills to do the same. In delivering our Mission, we build towards our Vision of creative communities working together to deliver extraordinary arts eXperIenS that fire the imagination, affect positive change and are open to all. Company perfonnance a. Key perfomiance Indl¢ators In 2023124, we reached 25,111 people acros5 our live and digital work, 3501 of whom were participants in our engagement, training, and development programmes. As well as the nine staff members we employed, we worked with 105 freelance creatives. Of those who responded to our workforce survey 250A were disabled, Dldeaf, neurodiverse or had chronic health conditions. Income from grants and donations.. Other income from charitable activities.. {Deficit}ISurplus: £ 581,475 (2022123.. £ 735.927) £ 207,539 (2022123. £ 214,4221 (£66,384) (2022123: {£288,896)) Page 3
CHINA PLATE THEATRE LTD (A company Ilmitod by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Company perfornianco Icontlnued) Other income from charitable activities includes co-prodLJCtions with artists, whereby Arts Council England Grants for the Arts I Project Grants and other income is transferred from co-producers to China Plate Theatre to produce, run and close prc*Juctions. In doing so China Plate is actively engaged in the decision-making during the production, running and closing phases of productions., makes effective creative, technical and artistic contributions to the productions and directly negotiates, contracts and pays for rights, goods and services in relation to the productions. This strand of income varies annually, dependin9 on how projects are structured with co-producers. b. Oryanisational Rovlew Our 2023-26 Business Plan, mission: and public programme are all underpinned by our Stsff team and by our efforts to build a progressive and sustainable working culture at China Plate. If our public work aims to be assIble and indusive, so too must our working practi. China Plate's programme and worknng model will be the skndy of an AHRC-lunded Midlands4Cities Collaborative Doctoral Award PhD, supervised jointly by the University of Birmingham and the University of wa1Ck. Josie Lena Davies was appointed this year, the University recruitment departments noted China Plate's inclusive recruitment practices as a benefit to the prosS, and we have been invited to contn'bute to future working groups exploring access and recruitment. This year we also recruited four new Trustees with a wealth of experience.. Raidene Carter - Artlstic Director of Artsadmin, previously Executive PrOdur for the 2022 Commonwealth Games., Cerian Elles - consultant with over 15 years, experience working across the arts sector in strategic fundraising support., Christina Elliot - Head of Programming & Producing at The Place, London. Paul Hewlett - Chief Operations Officer for the CORE & Co Foundation, previously China Plate'5 General Manager. 2023124 marked the first year of our second National Portfolio funding agreement with Arts Council England. We also continued our ongoing funding latiOnshIP with the John Ellerman Foundation, and our longstanding partnership with Warwick Arts Centre, where we are Associate Producers. We diversified our income by securing partnerships with National Lottery Heritage Fund and the Intemational Touring and Environmentsl Responsibility Forum. and with non4rts stakeholders in the West Midlands to be announced in 2024125. Page 4
CHINA PLATE THEATRE LTD (A Cornpany Ilmlted by guarantee) TRUSTEES. REPORT ICONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Flnanclal review a. Reserves policy It is the poliw of the charity to maintain unrestricted funds, which are the free reserves of the charity.. at a level that equates to not less than three months core unrestncted expenditure. This provides sufficient funds to cover management, administration and support costs. At 31 March 2024. our designated operating reser¥es stood at £125,000 (2023: £125,000} r8presenting three months, running costs. This is induded in Designated Reserves. The Board has approved a policy vthereby up to £20,000 of our operating reserve may be temporarily released then reinfiated for cashflow purposes if required, subject to approval process. A further £150,000 {2023.' £146,000) has been included as designated production reseNes being fvnds committed to productions for 2024125. The balance of unrestricted reserves is £22:346 {2023: £54,855). b. Prlnclpal rlsks and un¢•rtainti•$ In 2023124 the company managed the following risks, which continue to be relevant into 2024125.. Financial risk:UK Economy The wider financial situation - increases in inflation and cost of living poses a significant risk to the arts sector as a whole. We continue to model our budgets and plans to respond to increased capitalisation costs, and the increased costs our staff will be faced with (in order to help ensure staff retents'on). Financial risk.. Reduction in arts funding (induding trusts and foundats'ons, commission. co-production, perforniance fee, and box office income}. Inflation and the cost of living landscape leaves venues with less flexibility on fees, and audiences with less disposable income. The touring theatre sector continues to suffer, and has been noted by Arts Council England as a sector experiencing particular difficulties. Arts funders across the UK report increased demand for their funding and higher rejection rates. China Plate continues to broker new partnerships and diversify our income streams to help mitigate this risk. Note on financial risks.. In 2022123 a Finan Sub-committee was established by the Board in order to slrengthen governanGe in this area at a time of financlal insecurity in the seGlor. This has continued to run throughout 2023124. Page 5
CHINA PLATE THEATRE LTD {A company Ilmlted by guarant8e> TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Structure, governance and management a. Constitutlon The charity is registered as a charstable company limited by guarantee and was onginally set up by a Memorandum of Association on 1 May 2014 as a trading Company. It wnverted to a charity on 11 July 2017. The charity is registered with number 1173766. The principal object of the charity is to advan the arts for the public benefit by the promotion in particular. but not exclusively, of the art of drama. b. Methods of appolntment or electlon of Trustees The management of the charity is the responsibility of the Trustees who a elected and co-opted under the terms of the Articles of Association. At every Annual General Meeting one-third Of the Directors who are subject to retirement by rotatlon shall retire from office. The Directors to retire by rotation shall be those who have been the longest in offi. The Directors may appoint a person who is willing to act to be a Director, either to fill a vacancy or a8 an additional Director A Director so appointed shall hold office onty until the next following annual general meeting and shall not be tsken into account in detennining the Directors who are to retire by rotation at the meeting. If not reappointed at such annual general meeting, slhe shall vacate office at the conclusion of that meeting. A Director who retires at an annual general meeting may. if willing to act, be appOinted. If slhe is not reappointed. slhe shall retain office unts'l the meekn'ng appoints someone in herlhis place. or if it does not do so, until the end of the meeting. c. Organlsatlonal structure and decision4naklng pollcles China Plate is governed by a Board of Trustees. The board meets at ast quarterty. Two Artistic Directors and (as of March 2021122) an Executive Director have been appointed by the trustees to manage the day to day operations and activities of the charity. To facilitate effective operations, these staff have been delegated authority, within terms of delegation approved by the trustees, for operational matters including finance, employment, artistic and educational activits'es. d. Policles adopted for tho induction and tralning of Trustees New trustees ceIve orientation infomiation to brief them on their legal obligations under charity and company law. the wntent of the Constitution, the decision making proGe55e5, the business plan and recent financial Performan of the charity. The company holds events where board members have the opportunity to meet employees, other trustees and see examples of the companls Work. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role. Plans for future periods In 2024125 China Plate will premiere Please Do Not Touch at Belgrade Theatre Coventy in September before a pilot tour to Upton House and Gardens, Attingham Park and HMP Oakwood. We have been invited to present Humans Not Heroes as a part of a season of work focusing on the health impacts of performance by the University of Oxford's Cultural Programme. We also look ahead to thè national and intemational tour of Talking About the Fire in early 2025. The touring Page 6
CHINA PLATE THEATRE LTD IA company Ilmlted by guarantm) TRUSTEE8' REPORT (CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2024 Plans for futuro periods (continued) production will feature an ecoscenographic set design.. each tour venue is invited to work with their community groups to assemble the set, meaning we do not need to travel with any freight and the company can travel in an electric vehicle. In addition, 2024125 will see us begin an intensive period of Creative Development, with Trash entering its next stage of research and development, To The Streetsl being workshopped at the National Theatre Studio, and conversations about a new partnership with the classical music sector. Our 2024 delivery of The Optimists will take place in person in partnership with venues across the West Midlands. Our Training and Development offer wll also expand further, as we will be delivering training sessions as part of the West Midlands Combined Authority's Activate programme, supporting independent creatives and small arts organisations across the region. Reference and admlnlstrative detall8 of the Gharlty, Its tru3te•s and advls•rn Trustees S. Preece, Chair K.C. Stanley Money S.K. Shama (resigned 14 June 2023) N. Lewycky (resigned 4 December 2024) H. Begum C. Hicks (appointed 6 December 2023) l. Datta P.B. Hewlett {appointed 6 March 2024) C.A. Eiles-murray (appointed 6 December 2023) R. M. Carter lappointed 6 March 2024) C¢)mpany regist•r¢d number 09021628 Charlty r•gl$tar number 1173766 Registered offl¢e ZellFg Gibb Street Birmingham B9 4AT Company s•eretary C.R. Courtney Accountant Drennan & Co Chartered Accnuntants 64 Belsize Park London NW3 4EH Artistlc Directors Ed Collier Paul Warwick Page 7
CHINA PLATE THEATRE LTD (A company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Mèmberg, liability The Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up. Statement of Trustees. re8pon8ibllltlo8 The Trustees (who are also the directors of the charity for the purposes of company law) are responsible for preparing the Trustees, report and the financial ststements in accordan with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charity and of its incoming resources and application of resources, including its income 8nd expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles of the Charities SORP {FRS 102). make judgments and accounting ests'mates that are reasonable and prudent., state whether applicable UK Accounting Stsndards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. The Trustees are responsible for keeping adequate accounts'ng records that are sufficient to show and explain the charity's transactions and disclose with ieasonable aUraY at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by ordei of the members of the tyJar(l of Trustees on 17 Detsmber 2024 and slgned on their behalf by S. Preece Page 8
CHINA PLATE THEATRE LTD IA company limited by guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent 0xamine8 report to the Trustees of China Plate Theatre Ltd (*he charity,) I report to the charity Trustees on my examination of the accounts of the charity for the year ended 31 March 2024. Responsibilitles and basis of report As the Trustees of the charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts Carried under sec.tion 145 of the Charities Act 2011 ('th8 2011 Acf). In ¢arrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b} of the 2011 Act. Indèpendent examin•r'8 Stat8m•nt Since the charity's gross income exceeded £250,000 your examiner must be 8 member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undettske the examination because l am a member of ICAEW, which is one of the listed bodies. I have completed my examination. I confim that no matters have come to my attention in connection with the examination giving me cause to believe.. accounting rocords were not kept in Spect of the charrty as required by section 386 of the 2006 Act, or the accounts do not accord with those records.. or the accounts do not comply with the accotinting requirements of section 396 of the 2006 Acl other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an Independent examination" or the accounts have not been prepared in accordan with the methods and principles of the Statement of Recommended practi for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with tha Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102>]. have no cOnmS and have come across no other matters in connecb'on with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the charliys Trustees, as a booy, in accordan with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the charity's Trustees those matters l am required to stste to them in an Independent examinerfs report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charity and the charity's Trustees as a body. for my work or for this report. Signed: Dated.. 17 December 2024 R G Drennan FCA- ICAEW 64 Belsize Park, London NW3 4EH Page 9
CHINA PLATE THEATRE LTD (A company Ilmlted by guarantee) STATEMENT OF FINANCIAL ACTIVITIES IINCORPORATING INCOME AND EXPENDITURE ACCOUND FOR THE YEAR ENDED 31 MARCH 2024 Unrestricted Restrictod funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and grants Charitsble actNities 522,275 115.355 S9,200 92.184 581,475 207,539 735,927 214,422 Total Income 637,630 151,384 789,014 950, 349 Expendlture on: Charitable activities 482,142 373,256 855,398 1, 239,245 Total expendlture 482.142 373.256 855,398 1,239,245 Net Incomel(expendlturel Transfers betrdeen funds 155,488 (183.997) (221,872) 183,997 166,3841 (288, 896) Net movement In fund8 128,509> (37,8751 166,384) (288, 896) Reconclllatlon of funds: Total funds brought forward Net movement in funds 326,865 128,5091 37.875 (37,875) 363,730 186,384) 652, 626 (288. 896) Total funds Carr1 forward 297,346 297,346 363, 730 The Statement of financial activities include5 all gains and losses recognised in the year. The notes on pages 12 to 19 fomi part of these financial ststements. Page 10
CHINA PLATE THEATRE LTD (A company limited by guarantee) REGISTERED NUMBER: 09021628 BALANCE SHEET AS AT 31 MARCH 2024 2024 2023 Note Fixed assets Current assets Debtors Cash at bank and in hand 212,809 111,917 78, 749 323, 594 324.726 402,343 Creditors: amounts f811ing due within one year 10 (27,380) (38,613) Net current assets 297,346 363, 730 Total assets less current liabillties 297,346 363, 730 Net assets 297.346 363. 730 Total net assets 297,346 3S3. 730 Charlty funds Restricted funds Unrestricted funds 37,875 325,855 297,346 Total funds 297,346 363. 730 The charity was entitled to exemption from audit under sectlon 477 of the Companies Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2008. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 17 December 2024 an¢J signed on their behalf by- S. Preece Page11
CHINA PLATE THEATRE LTD (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 General infomiatlon The charity is a UK limited company registered at Companies House in England & Wales and with the Charity Commission. Account5ng pollcies 2.1 Basls of preparation of flnanclal ststements The financial statements have been prepared in accordance with the Chsrities SORP (FRS 102} - Accounting and Reporting by Charities.. Statemen• of Recommended Practice applicable to charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective l January 2015}, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. China Plate Theatre Ltd meets the definits'on 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. 2.2 Income All income is recognised On the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specifie purposes but not èxpend8d during the pertod is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and inGluded in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Other income from charitsble activities includes co-productions WFth artists, whereby Arts Council Englan(t Grants for the Arts I Project Grants and other income is transferred from ctrproducers to China Plate Theatre to produce: run ano close proauctions. In doing so China Plate Is actlvely engaged in.. the decision-making during the production, running and closing phases of productions,, makes effective creative, technical and artistic contributions to the productions, and directly negotiates, contracts and pays for rights: goods and services in relation to the productions. This strand of income varies annually: depending on how projects are structured with co-producers. Pag¢ 12
CHINA PLATE THEATRE LTD (A company limltsd by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng pollcles (continued) 2.3 Expendlturn Expenclrture is recognised once there is a legal or constructtve obligation to transfer economic benefit to a third paty, it is probable that a transfer of eGonomic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the totsl of direct costs and shared costs, including support costs involved in undertaking each activity. Direct Costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned bet¥veen those activities on a basis consistent with the use of resources. Centfal staff costs are allixated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Expenditure on charitable activities is inCurd on directly undertaking the activities which further the charity's objectives, as well as any associated support costs. 2.4 Government grants Govemment grants relating to tangible fixed assets are treated as deferred income and released to the Statement of financial activities over the expected useful lives of the assets conrned. Other giants are GtEdited to the Statement of finanGial activities as the related expenditu is incurred. 2.5 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.6 Cash at bank and In hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less trom the date of acquisition or opening of the deposit or similar account. 2.7 Llabilltles and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefft will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or seNices rt mLJSt provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statemant of financial activitie8 as a finance cost. Pa9e 13
CHINA PLATE THEATRE LTD (A company Ilmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Accountlng policies (contlnued) 2.8 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. Designated fiJnds comprise unrestricted funds that have been set aside by the Trustees for particukr purposes. The aim and use of each designatsd fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordance wth specific restrictions imposed by donors or which have been raised by the charity for particular purposes The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income from donatlon8 and legacies Unrgstrictod Rostricted funds fund8 2024 2024 Total funds 2024 Grants Arts Council England John Elleman Foundation Commission Income 253,582 30,000 51,069 40,569 294,151 30,000 68.200 17,131 Subtotal detalled disc1Ure 334,651 57,700 392,351 other grants GovemmenVLocal Authority grants 1,500 1,500 187,624 187,624 Subtotal 187,624 1.500 189,124 Total 2024 522,275 59,200 581,475 Other grants were reiVed from Unlimited £1,500. The Govemment Grant of £187,624 was a Theatre Tax Relief claim. Restricted Arts Council Income.. whereby Arts Council England Project Grants income is transferred from C0-produrS to China Plate Theatre to produce. run and close producb'ons. Page 14
CHINA PLATE THEATRE LTD (A company limited by guarantee> NOTES TO THE FINANCIAL STATeMeNTS FOR THE YEAR ENDED 31 MARCH 2024 Income from donations and legacles (contlnued) Unrestricted RestriGt8d funds funds 2023 2023 Total funds 2023 Grants Arts Council England Esmee Fairbairn Foundation Garfield Weston Culture Fund Commission income The Winston Churchill Memorial Trust 253,582 6,175 154, 929 406,511 6,175 17,501 243,613 30,000 17,501 243,613 30, 000 Subtotal d•tailod dl$¢losure 289, 757 416,043 705, 800 Grants Govemment grants 4,927 25.200 4,927 25,200 Subtotal 30. 127 30,127 rot812023 289, T57 446, 170 735. 927 GovemmenVLocal Authority grants comprise restricted grants from Birmingham City Council of £25,200. Other grants were received from Wtthout Walls £897, ESFIGroundwork UK £2,243 and Hobson Charity £1,787. Page 15
CHINA PLATE THEATRE LTD (A company limited by guarantee) NOTES TO ThE FINANCIAL 8TATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Income from charltablo acts"vitie8 Unrestricted Rostricted funds funds 2024 2024 Totsl funds 2024 Ticket S21es and other income 115,355 92.184 207,539 Unrestricted funds 2023 Total funds 2023 Ticket sales and other income 214,422 214,422 Analysls of expendlture by actlvltles Activities undertakan directty 2024 Support costs 2024 Total funds 2024 Production costs Core staff & project staff costs 373,256 354,443 127,699 500,955 354,443 727,699 127,699 855,398 Activities undertaken directly 2023 Total funds 2023 Support costs 2023 Production costs Core staff & project staff costs 8t6,062 303, Q87 120, 096 936, 158 303, 087 1,119, 149 120,096 1, 239,245 Page 16
CHINA PLATE THEATRE LTD {A company Ilmited by guaranteè) NOTES TO The FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Indopendent examlnevs remuneratlon 2024 2023 Fee5 payable to the charity's independent examiner for the independent examination of the charity's annual accounts Fees payable to the charity's independent examiner in respect ot: All other services not included above 2,500 2, 400 300 660 Staff costs The average number of persons employed by the charity during the year was 8$ follows: 2024 2023 No. Directors and staff No employee received remuneration amounting to more than £60,000 in either year. Trustees. remuneration and expense8 During the year, no Trustees received any remuneratK)n or other benefits (2023 - £NIL). During the year ended 31 March 2024. no Trustee expenses have been incurred (2023 - £NIL). Debtors 2024 2023 Due wlthin one year Trade debtors Other debtors 21,185 191,624 76,181 2,568 212,809 78,749 Other debtors at 31 March 2024 includes a Theatre Tax Relief claim for £187,624. This was received in 24125. Page 17
CHINA PLATE ThEATRE LTD (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. CrOr3. Amounts falling due wlthln on• year 2024 2023 Trade creditors Other taxation and social security Accruals and deferred income 16,264 9,616 1,500 28, 684 8,429 1,500 27.380 38,613 11. Summary of funds Summary ol fvnds - current year BalanGe at 1 April 2023 Tran¥fors Balance at 31 Inlout March 2024 Income Expendlture Designated funds General funds Restricted funds 271,000 54,855 37,875 4,000 (482,142) (187,997) 1373,256) 183.997 275,000 22,346 637.630 151.384 363,730 789,014 (855,398) 297.346 Designated funds represents reserves £150,000 (2023. £146,000) of funds committed to 2024125 production3 and £125,000 (2023.. £125,000) to cover 3 months of mana9ement, administration and support costs. Summary of funds - prlor year Balance at 31 March 2023 Balance al l Apnl 2022 Transfers in/oul Income Expendrfure Designated funds General funds Restried funds 321,430 36.419 294, 777 (50, 430) {62, 560) 112,990 271,000 54, 855 37,875 504, 179 446, 170 (423. 183) (816.062) 652.626 950,349 (1,239,245) 363, 730 Page1B
CHlhlA PLATE THEATRE LTD (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 12. Analysis of not assets between funds Analysis of net a$8•ts between fundg - curr•nt period Unrestricted funds 2024 Total funds 2024 Current assets Creditors due within one year 324,726 (27,380) 324,726 (27,380) Total 297,348 297,346 Analysls of net assets between funds - prlor perlod Unrestricted R8Stricted funds fvnds 2023 2023 Total fund 2023 Current assets Creditors due within one year 364, 467 (38,613) 37,875 402,342 (38,613) Total 325, 854 37.875 363, 729 Page 19