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2022-03-31-accounts

Company number 11103657 Charity number 1186473

Wayward Productions Ltd

(Limited by Guarantee)

Report and Financial Statements for the year ended 31 March 2022

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

Wayward Productions Ltd

(Limited by Guarantee)

Contents

Page
Reference and Administrative Details 1
Trustees’ Report 2 - 5
Independent Examiner’s Report 6
Statement of Financial Activities (including Income and Expenditure Account) 7 - 11
Balance Sheet 12
Notes to the Financial Statements 13 - 18

Wayward Productions Ltd

(Limited by Guarantee)

Reference and Administrative Details

Constitution

The company is a private company limited by guarantee registered in EW - Engalnd and Wales, company number 11103657 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 1186473. The company obtained charitable status on 20 November 2019.

Directors and trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association, the minimum number of trustees shall be 3 and is not subject to any maximum. The charity may by ordinary resolution appoint any person who is willing to act as a director. Directors will serve a maximum term of 3 years in the first instance, after which they can serve another 3 years and then a subsequent further 3 years if carried in a vote at a general meeting. After a director’s 3rd term they must retire.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

The directors and trustees during the year and since the year end, were :

Directors and trustees

Prof Marcus du Sautoy Elizabeth Loudon Keerthi Kollimada

Chief executive/day to day management

Judith Dimant

Independent Examiners

Breckman & Company Ltd, 49 South Molton Street, London W1K 5LH.

Bankers

NatWest, 12 The Broadway, Southgate, London N14 6QF.

Operation address

8 Highwood Road, London N19 4PN.

Registered office

49 South Molton Street, London W1K 5LH.

1

Wayward Productions Ltd

(Limited by Guarantee)

Trustees’ Report

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2022 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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).

Objectives and activities

Wayward is a charitable production company, working primarily in theatre. Our charitable objectives are:

Wayward’s mission is to transform the UK’s theatrical landscape by bringing work from the fringes into the UK’s most prestigious venues. Wayward develops work from unexpected sources, creating artistic work of excellence and of the utmost relevance, reaching the broadest cross section of the public.

Wayward will develop an imaginative Engagement Programme working with groups not usually involved with the creative arts and challenging social and financial barriers to arts access through education work and subsidised and free ticket schemes.

Our programme incorporates performances, workshops, pre and post show talks, large scale engagement projects and other training and education-based activity.

This work is created using the following overarching programming principles:

The programme aims are to present work which:

in order to develop art from understanding and appreciation and provide opportunities for education for the public benefit.

In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission’s guidance on public benefit, including the guidance ’public benefit: running a charity (PB2).

2

Wayward Productions Ltd

(Limited by Guarantee)

Trustees’ Report

Achievements and performance

Wayward acquired the rights to THE LANGUAGE OF KINDNESS by Christie Watson, published in 2018. It was a BBC Radio 4’s Book of the Week and Waterstones’ Non-fiction book of the month in early 2019. The book recounts Christie’s career as a nurse and is also a call to arms for those who value the NHS. THE LANGUAGE OF KINDNESS was scheduled for Summer/Autumn 2020 with a major learning and engagement programme attached. Covid-19 in 2020 meant that this was postponed. Performances were rescheduled at Warwick Arts Centre, Tunbridge Wells Assembly Hall Theatre and Shoreditch Town Hall in May and June 2021. The production was also live streamed from Shoreditch Town Hall. In February 2022 the production won an OFFIE award.

Wayward’s BBC Culture in Quarantine radio feature - SHIFTS - for BBC Radio 3’s Between the Ears strand continues to be available on BBC Sounds. This was very well received when originally broadcast and in November 2022 it won the Life with Covid-19 category in the 2021 UK Audio Awards.

Performances of MICHAEL KOHLHAAS by Heinrich von Kleist in association with the Schaubühne Theatre, Berlin continues in repertory in Berlin and on tour in Europe. Directed by Annabel Arden and Simon McBurney.

AN ENGLISH SOUNDWOOD - a sound installation and collaboration with Max Porter and musicians Alula Down, was cancelled in March 2022 due to Covid-19 amongst the performers and was rescheduled for July 2022.

The adaptation of PRINCESS SMARTYPANTS by Babette Cole with The Wardrobe Ensemble has been postponed until 2022/23.

The relationship with Aitken and Alexander (publisher) remains fruitful and suggestions for books for stage adaptation are regularly offered up - there are several being mooted at the moment including Tyger by SF Said - recently published, it has already sold out and gone to second print. This a family / children’s book.

Staff members have been working freelance for other organisations - Judith wrote and submitted the NPO application (successfully) for the Lyric Theatre Hammersmith. She has recently taught at Rose Bruford. Jessie continues to work on opera with her own company and has produced two very well received shows on the London fringe this year. Lucy is currently restructuring the finance system for Wise Children. Philippa continues to produce and tour Lucy McCormick.

Financial review

At the year-end to 31 March 2022 Wayward held reserves totalling £313,498 (2021: £246,903). The company is therefore able to fulfil our designated reserves policy, setting aside funds towards future productions and as a contingency towards overheads. The budget for the following financial year to 31 March 2023 has been updated to reflect the significant changes to our programme of work due to the Coronavirus Pandemic. The company successfully bid for the second round of the Cultural Recovery Fund from the Arts Council and was awarded £100,000 and as a result the company was able to generate a small surplus in the financial year to 31 March 2022.

The Reserves policy has been set by the Trustees to be reviewed on an annual basis. Currently, aside from Restricted Reserves (£nil), funds are held in a designated Production Reserve of £140,000 to underwrite future production expenditure commitments for projects in development, and a designated fund of £45,000 as a contingency representing six months of budgeted overhead expenditure. The contingency fund will be held on an ongoing basis and reviewed annually by the Trustees against the following year’s budget. The remaining unrestricted funds at year end were £128,498.

3

Wayward Productions Ltd

(Limited by Guarantee)

Trustees’ Report

Risks

The Trustees acknowledge that for a new organisation there is always an element of risk involved and that their role is to steer the charity to ensure that its objectives are met and that the programme of work ensures the advancement of the arts and education for the public benefit. We monitor the Charity’s finances at every trustees’ meeting, in order to ensure that it remains financially viable, has sufficient funds to deliver its objectives and conducts its financial management in a manner befitting a charity.

A detailed risk register has been drawn up to identify the key areas in which the Trustees must support and guide Wayward’s staff and is used at trustee meetings and sub-group meetings to feed into agendas and to monitor progress.

The main area of risk continues to be the post-pandemic challenges and the slow speed in which live performance is returning ’to normal’ The Company was remarkably productive during the pandemic and reactive to constantly changing circumstances and going forward the company. As with all other theatre companies, technical staffing is an issue as many freelancers left the theatre, and actors are less reliable - opting for better paid jobs in theatre and film.

There is enormous pressure on fundraising - with the cost-of-living crisis and general scaling back of available funds - fundraising from trusts and foundations and elsewhere has become very competitive.

Plans for future periods

In October 2022 we did one week of R+D October looking at adapting ASSEMBLY by Natasha Brown working with director Tinuke Craig and writer Dipo Baruwa-Etti and a group of actors. We did an industry sharing with those attending including from the NT, Hampstead Theatre, Almeida Theatre, Bristol Old Vic Theatre.

We followed this with a short workshop in November 2022 on LICORICIA OF WINCHESTER with Tracy-Ann Oberman, Annabel Arden, writer Rebecca Abrams and some actors- looking at the life of a 13th Century female Jewish Money Lender. This was supported by JW3 arts centre who would like to be involved in any future life of this project.

Future workshops are planned or TYGER by SF Said a new book from highly acclaimed children’s author, and PANDEMONIUM by Armando Iannucci - a satirical ’mock’ epic poem that Patrick Marber will direct. A workshop for this is planned in Spring 2023

The full touring production of PRINCESS SMARTYPANTS will be co-produced with the Wardrobe Ensemble in 2023/24.

The company is in the early planning stages for another radio production with Jules Wilkinson (producer for SHIFTS) which would be produced in 2023/24.

The company’s website will be relaunched by the end of 2022 and in early 2023 we will actively seek 2 or 3 new Trustees to expand the board’s range of skills and experience. The staffing structure will also be reviewed in January/ February 2023 with a focus on fundraising, and an Assistant Producer to support increased activity.

4

Wayward Productions Ltd

(Limited by Guarantee)

Trustees’ Report

Statement of trustees’ responsibilities

The trustees (who are also directors of Wayward Productions Ltd for the purposes of company law) are responsible for preparing the Trustees’ Annual Report and the financial statements in accordance 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, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

· select suitable accounting policies and then apply them consistently;

· observe the methods and principles in the Charities SORP 2015 (FRS 102);

· make judgements and estimates that are reasonable and prudent;

· state whether applicable UK Accounting Standards 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 charitable company will continue in operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company 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 charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company’s website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small company exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on 24th January 2023 and signed on its behalf by

Elizabeth Loudon Trustee

5

Independent Examiner’s Report to the Trustees of Wayward Productions Ltd

I report on the accounts of the charity for the year ended 31 March 2022, which are set out on pages 7 to 18

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

The charity’s gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner’s statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner’s statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements:

  2. to keep accounting records in accordance with section 386 of the Companies Act 2006; and

  3. to prepare accounts which accord with the accounting records, comply with the accounting

  4. requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities

have not been met; or

  1. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Graham Berry FCCA Breckman & Company Ltd Chartered Certified Accountants

49 South Molton Street London W1K 5LH

24th January 2023

6

Wayward Productions Ltd

(Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) for the year ended 31 March 2022

Unrestricted
Restricted
funds
funds
Notes
£
£
Income and endowments from:
2
Donations and legacies - page 8
122,427
-
Charitable activities
Theatre - page 9
86,881
61,857
Investments
344
-
Other
3
26,799
-
Total
236,451
61,857
Expenditure on:
Raising funds:
Fundraising
80
-
Charitable activities:
Theatre - page 10
155,010
76,623
Total
155,090
76,623
Net income/(expenditure)
4
81,361
)
(14,766
Reconciliation of funds:
Total funds brought forward
232,137
14,766
Total funds carried forward
12, 13
313,498
-		 2022
Unrestricted
Restricted
Total
funds
funds
£
£
£
122,427
24,206
-
148,738
40,452
11,370
344
419
-
26,799
-
-
298,308
65,077
11,370
80
1,000
-
231,633
60,833
16,397
231,713
61,833
16,397
66,595
3,244
)
(5,027
246,903
228,893
19,793
313,498
232,137
14,766		 2021
Total
£
24,206
51,822
419
-
76,447
1,000
77,230
78,230
)
(1,783
248,686
246,903

The notes on pages 13 to 18 form an integral part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

7

Wayward Productions Ltd

(Limited by Guarantee)

Year ended 31st March 2022

Incoming resources from generated funds
Voluntary income
Arts Council England - Cultural Recovery Fund
HMRC Job Retention Scheme
Donations
Donations
Gift Aid on donations		 2022
£
100,000
2,327
20,000
100		 £
100,000
2,327
102,327
20,100
122,427		 2021
£
-
13,620
10,586
-		 £
-
13,620
13,620
10,586
24,206

8

Wayward Productions Ltd

(Limited by Guarantee)

Year ended 31st March 2022

Theatrical income
Box office/performance fees
Project specific funding
Grants
Arts Council England
Garrick Charitable Trust
Maria Bjornsen Memorial Fund
The D Oyly Carte Charitable Foundation
Didymus Trust
Leche Trust
Noel Coward Foundation
Sylvia Waddilove Foundation
Royal Victoria Hall Foundation
Donations/individual giving		 2022
£
86,881
86,881
44,376
-
-
-
4,000
2,000
2,000
1,000
1,500
6,981
61,857		 2021
£
40,452
40,452
1,370
3,000
2,500
4,000
-
-
-
-
-
500
11,370

9

Wayward Productions Ltd

(Limited by Guarantee)

Year ended 31 March 2022

Expenditure on charitable activities
Theatre
Production costs
Actors and directors fees
Other fees
Production costs
Commissions payable
Participation and engagement
Theatre hire
Production travel and accommodation
Marketing
Hire of equipment
Storage and transportation
Support costs - page 11
Governance costs - page 11		 2022
£
62,968
49,826
20,886
125
1,380
3,317
19,625
11,691
5,000
928
175,746
52,637
3,250
231,633		 2021
£
8,334
9,866
1,681
1,347
2,850
1,965
26
470
490
-
27,029
47,401
2,800
77,230

10

Wayward Productions Ltd

(Limited by Guarantee)

Year ended 31 March 2022

Support and governance costs
Support costs
Office overheads
Rent
Telephone
Computer costs
Insurance
Repairs/maintenance
Administration costs
Salaries
Fees
Staff pension costs
Staff training
Travel/accommodation/subsistence
Entertaining
Printing/postage/stationery
Books/journals
Advertising
Subscriptions/licences
Website costs
Sundry expenses
Charitable donations
Professional/financial
Consultancy fees
Bank charges
Governance costs
Accountancy/consultancy
Independent examination		 2022
£
475
502
480
2,143
-
34,500
7,150
640
-
1,112
214
357
13
2,123
95
698
1,085
50
1,000
-
500
2,750		 £
3,600
48,037
1,000
52,637
3,250
55,887		 2021
£
-
498
456
872
337
22,000
17,492
473
50
775
131
403
6
-
83
625
237
2,959
-
4
800
2,000		 £
2,163
45,234
4
47,401
2,800
50,201

11

Wayward Productions Ltd

(Limited by Guarantee)

Balance Sheet 31 March 2022

2022 2021
Notes £ £ £ £
Current assets
Debtors 9 29,550 41,649
Cash at bank and in hand 287,522 210,903
317,072 252,552
Liabilities
Creditors: amounts falling
due within one year 10 )
(3,574		 )
(5,649
Net current assets 313,498 246,903
Total assets less current
liabilities 313,498 246,903
The funds of the charity
Unrestricted funds 12
- General fund 128,498 47,137
- Designated funds 185,000 185,000
313,498 232,137
Restricted funds 13 - 14,766
Total charity funds 313,498 246,903

For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors’ responsibilities:

· The members 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.

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 24 January 2023 and signed on its behalf by

Elizabeth Loudon Keerthi Kollimada Trustee Trustee

The notes on pages 13 to 18 form an integral part of these financial statements.

12

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2022

1. Accounting policies

1.1. 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 (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), and the Companies Act 2006.

The charity 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 note(s).

1.2. Preparation of the accounts on a going concern basis.

The Trustees consider the company to have enough resources to continue operating for the foreseeable future and is therefore considered a going concern.

After having reviewed the accounts and the company activities in the light of the ongoing Covid-19 pandemic, as mentioned previously, reforecasting and remodelling has occurred to take this into account. And on this basis, the Trustees still believe that the accounts should be prepared on a going concern basis.

1.3. Incoming resources

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

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

13

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2022

- Charitable activities

Theatre income - income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.

Project specific funding - when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

- Donated services and facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

- Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.4. Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Costs of raising funds

Costs incurred in attracting donations, and those incurred in trading activities that raise funds.

- Charitable activities

Theatre production costs - costs incurred in production and running of productions toured in the year.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

1.5. Pensions

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

14

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2022

1.6. 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.

1.7. 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 from the date of acquisition or opening of the deposit or similar account.

1.8. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in 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 amount after allowing for any trade discounts due.

1.9. Fund accounting

Funds held by the charity are either:

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

1.10. Financial Instruments

The charity only has financial assets and financial 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.

1.11. Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity’s estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

2. Incoming resources

The total incoming resources for the year have been derived from the principal activity undertaken wholly in the UK.

15

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2022

3.
Other income (TTR)
Theatre Tax Relief (TTR)
4.
Net income for the year is
stated after charging:
Independent examiners fee
- independent examination
- other services		 2022
£
26,799
2022
£
2,750
500		 2021
£
-
2021
£
2,000
800

5. Trustees’ emoluments and reimbursed expenses

The trustees received no remuneration during the year.

The aggregated amount reimbursed to trustees during the year was £nil (2021 £nil).

6.
Staff costs and numbers
Staff costs
Salaries and wages
Pension costs		 2022
£
34,500
640
35,140		 2021
£
22,000
473
22,473

No employee earned £60,000 or more during the year (2021 - nil).

The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £20,444 (2021 £nil).

Staff numbers

The average numbers of employees (including casual and part time staff) during the year was made up as follows:

up as follows:
2022 2021
Number Number
Support 2 1

16

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2022

7. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £640 (2021 - £473).

8. Corporation taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects. The company obtained charitable status on 20 November 2019.

9.

10.

Debtors
Trade debtors
Other debtors
Prepayments
Creditors: amounts falling due
within one year
Trade creditors
Other taxation/social security
Other creditors
Accruals		 2022
£
2,173
27,377
-
29,550
2022
£
-
808
16
2,750
3,574		 2021
£
-
35,582
6,067
41,649
2021
£
2,000
849
-
2,800
5,649

11. Limited by guarantee

The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £10, to the company should it be wound up. At 31 March 2022 there were 3 members.

17

Wayward Productions Ltd

(Limited by Guarantee)

Notes to the Financial Statements for the year ended 31 March 2022

12. Unrestricted funds Brought Incoming Outgoing Carried
forward resources resources forward
£ £ £ £
General fund 47,137 236,451 )
(155,090		 128,498
Designated funds:
Production 140,000 - - 140,000
Overhead 45,000 - - 45,000
232,137 236,451 )
(155,090		 313,498

Production

The Production Fund has been designated to underwrite production expenditure on Princess Smartypants, and any future full productions as needed.

Overhead

The overhead fund represents 6 months of overhead costs.

13. Restricted funds Brought Incoming Outgoing Carried
forward resources resources forward
£ £ £ £
The Language of Kindness 14,766 61,857 )
(76,623		 -

The Language of Kindness

The fund is to finance the Research & Development and the Full Production phases of The Language of Kindness.

14. Analysis of net assets between funds

General
Designated
funds
funds
£
£
Fund balances at 31 March 2022
are represented by:
Net current assets
128,498
185,000
128,498
185,000		 Total
£
313,498
313,498

18