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2023-12-31-accounts

Registered Charity Number :- 1186940

JERMYN STREET THEATRE a Charitable Incorporated Organisation

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR END 31 December 2023

JERMYN STREET THEATRE

CONTENTS

FOR THE YEAR ENDED 31 December 2023

Report of the Trustees 1-14
Independent Examiners Report 15
Statement of Financial Activities 16
Balance Sheet 17
Notes to the Financial Statements 18-26

2

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of 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).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The objects of the charity are to produce and present high quality drama in an intimate location in the West End of London, including an investment in the writers and theatre-makers of the future alongside a celebration of theatrical heritage.

Significant Activities

2023 was an important year for Jermyn Street Theatre. Stella Powell-Jones (Artistic Director) and David Doyle (Executive Producer) had joined Executive Director and co-Founder Penny Horner to form a management team of three only months before, 2023 was the first full year with the new team in position.

Sadly, in September 2023 we lost both Trustee Peter Wilson MBE and our patron Sir Michael Gambon CBE. As Trustee Peter Wilson provided invaluable counsel and stalwart support on many occasions throughout the theatre’s history. Sir Michael gave an indelible performance in All that Fall and his continued association with the theatre was done with the generosity and cheer that characterised him. We are profoundly grateful for their contribution and dedication to the theatre.

The year saw the theatre produce a number of critically acclaimed productions, foster new partnerships and build upon existing relationships with companies and theatres nationally and internationally. In summary, Jermyn Street Theatre ends the year stronger and with greater capacity than when it began.

12 January - 4 February 2023 In the Net

By Misha Levkov

Directed by Vicky Moran

Set in a dystopian London, the lives of three women are interwoven to explore family, protest, and the joy of defiance. Misha Levkov’s debut play followed WoLab’s critically acclaimed productions For A Palestinian , RAINER, and ENG-ERLAND which Jermyn Street Theatre has presented as part of its reopening festival following its COVID closure.

★★★★ - “a philosophical triumph” IthankyouTheatre

“a dystopia that’s all the more chilling for how close it comes to our reality” The Times

3

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

9 February - 4 March 2023 The Oyster Problem

By Orlando Figes

Directed by Philip Wilson

Celebrating the literary legends of nineteenth-century Paris, this sparkling production followed the friendship between Flaubert, Zola, Turgenev, and Sand. This was the debut play by Orlando Figes, one of our most popular and distinguished historians and writers. Drawing from research from his best-selling book, the production drew in audiences with an acute passion for culture, history and literature. The ensemble was led by renowned actor Bob Barrett.

★★★★ - 'Throws a fascinating light onto a famous author’s life' North West End

★★★★ - 'A remarkable pearl of a play' Everything Theatre

'Flaubert and chums step out of the history books' The Times

'A dream dinner party setup' The Guardian

9 March - 8 April 2023 Farm Hall

By Katherine Moar

Directed by Stephen Unwin

Set at the end of the Second World War in Europe, this captivating debut play by Katherine Moar follows the six German nuclear scientists who were detained at a stately home in the Cambridge countryside between July 1945 and January 1946. This award-nominated production became the best-selling show in the theatre’s history, drawing in new audiences to our theatre. Farm Hall also continued our relationship with director Stephen Unwin following his production of All Our Children , and with Theatre Royal Bath, one of the UK’s most important regional theatres, where it played before going on a National Tour. The play transferred to the West End at Theatre Royal Haymarket in August 2024.

★★★★★ - 'An outstanding piece' North West End

★★★★★ - 'Intimate and special' A Young(ish) Perspective

★★★★ - “A thoroughly absorbing series of vignettes” The Times

★★★★ - “A riveting wartime thriller” The Guardian

★★★★ - 'Fascinating' The Daily Mail

4

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

★★★★ - 'An excellent debut play' Broadway World

Nominated: Most Promising New Playwright, Offies

Nominated: Performance Ensemble, Offies

20 April - 27 May 2023 Jules and Jim

By Timberlake Wertenbaker

Based on the novel by Henri-Pierre Roché

Directed by Stella Powell-Jones

Adapted from Henri-Pierre Roché’s celebrated autobiographical novel by multi award-winning Timberlake Wertenbaker and directed by Artistic Director Stella Powell-Jones, this play followed three friends living a bohemian existence in prewar Paris and their pursuits of love. Starring Patricia Allison from hit comedy series Sex Education , this compelling world premiere helped draw in a younger and diverse audience.

★★★★ - 'Impressive' LondonTheatre1

★★★★ - “Artful storytelling in gorgeous strokes” Broadway World

★★★★ - 'Terrific fun' The Daily Mail

★★★★ - 'Perceptive, funny' The Arts Desk

★★★★ - 'Thought-provoking and engaging' London Theatre Reviews

1 June - 1 July 2023 Yours Unfaithfully

By Miles Malleson

Directed by Jonathan Bank

This was our first co-production with New York’s acclaimed Mint Theatre Company. At the helm of the company, Artistic Director Jonathan Bank has dedicated his career to bringing attention to unjustly forgotten plays. Yours Unfaithfully is one such play. Until this production London audiences had never had the chance to see the play: a 1933 comedy by comedy legend Miles Malleson that offers an insightful and intimate peek behind the closed doors of 1930s suburban England. This award-nominated production featured an extraordinary central performance by Laura Doddington, and was critically-acclaimed.

5

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

★★★★★ - 'Very funny' ReviewsGate

★★★★ - “Engrossing and subversive” The Times

★★★★ - “This forgotten classic feels brand new” Broadway World

★★★★ - “A hugely worthwhile revival” The Reviews Hub

★★★★ - “A real find” The Observer

Nominated: Lead Performance, Offies

2 - 19 August 2023 Spiral

By Abigail Hood

Directed by Kevin Tomlinson

Following a young woman in trouble, a missing teenager and parents searching for answers, Spiral explores the human need to cling to another person, no matter what the cost. After a critically acclaimed run at Park Theatre, this thrilling contemporary play was celebrated for four outstanding performances from Abigail Hood, Jasper Jacob, Kevin Tomlinson, and Rebecca Crankshaw, and was nominated for an Offie.

★★★★ - “Wonderful writing - brilliant” Libby Purves, Theatre Critic / Radio 4 Presenter

★★★★ - “A phenomenal piece of work” London Pub Theatre

★★★★ - “An exceptional production” West End Evenings

★★★★ - “Four fantastic performances” Theatre-News.com

★★★★ - “A powerful play executed with panache” LondonTheatre1

Nominated: Lead Performance, Offies

6

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

7 September - 7 October 2023 Infamous

By April de Angelis

Directed by Michael Oakley

Th e extraordinary life of Emma Hamilton, one of the most famous figures in Georgian society, burst out of Dimouthe history books and onto the stage in this witty and vivacious world premiere. Through collaborations with historical societies and English Heritage sites such as Kenwood House, Infamous helped draw in new audiences with keen interest in British history. Starring Olivier Award-nominated Caroline Quentin alongside Rose Quentin and Riad Richie with a stunning design by Fotini , this critically-acclaimed play was nominated for two Offie Awards.

★★★★ - “Caroline Quentin is perfection” The Observer

★★★★ - “A subtle and nuanced production” LondonTheatre1

★★★★ - “As entertaining as it is enlightening” West End Best Friend

★★★★ - “Sharp, humane, funny and elegant” TheatreCat

★★★★ - “This autumn gets off to a flying start at Jermyn Street Theatre” London Theatre Reviews

Nominated: Lead Performance, Offies

Nominated: Set Design, Offies

12 October - 11 November 2023 Owners

By Caryl Churchill

Directed by Stella Powell -Jones

Set in 1972, this satirical play about power, property, and possession follows a landlady ready to go to any length to flip - a house. This was a rare chance to see the first play by one of Britain’s greatest living playwrights, Olivier Award winning Caryl Churchill. Directed by Artistic Director Stella Powell-Jones, fifty years on from its premiere, it spoke to the contemporary moment with its sharp look at London property and drew new audiences who were familiar with Churchill’s work to the theatre. Owners received three nominations for Offies and was critically-acclaimed.

★★★★★ - 'An epic piece of theatre' LondonTheatre1

★★★★★ - “Stella Powell-Jones' revival is pitch-perfect” London Theatre Reviews

7

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

★★★★ - “A triumphal evening” - ReviewsGate

★★★★ - “A compelling study of power and manipulation” West End Best Friend

★★★★ - “Doddington is in blistering form” The Reviews Hub

Nominated: Lead Performance, Offies

Nominated: Set Design, Offies

Nominated: Best Production, Offies

23 November - 31 December 2023 Odyssey: A Heroic Pantomime

By John Savournin and David Eaton

Directed by John Savournin

Turning Homer’s epic tale on its head, this spectacle introduced audiences to a host of fantastical characters on a mythical, musical (and downright ridiculous) journey. This critically-acclaimed show began our ongoing co-producing relationship with Charles Court Opera, one of the UK’s leading chamber opera and music theatre companies. Odyssey: A Heroic Pantomime won the Offie for Best Panto Production and played to packed houses, exceeding Farm Hall ’s sales to break our box office records once again.

★★★★★ - “A fantastic night of escapism” Theatre and Art Reviews

★★★★★ - “A highly entertaining and original show” Last Minute Theatre Tickets

★★★★★ - “The funniest performance I have seen for many a month” Plays to See

★★★★ - “The audience lapped it up” The Times

★★★★ - “This might be the smallest pantomime in town, but it provides epic fun” The Telegraph

★★★★ - “A wonderfully well-crafted show” The Daily Mail

★★★★ - “Top notch” The Arts Desk

Winner: Panto Production, Offies

Nominated: Panto Performance, Offies

8

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

Nominated: Panto Design, Offies

Additional Programming including “Summer Visitors”, “One Night Only” Series and Pre-Show Debates

As well as the main programme on stage the theatre produced its annual Summer Visitors season of work throughout the summer. Summer 2023 saw the theatre present Cecil Beaton’s Diaries , After All These Years, Stefan & Friends, Jarman, An Exquisite Harmony, and Howerd’s End . Throughout the year the theatre continued to present its series of One Night Only events expanding the range of work presented on the stage. Some highlights of the other work that the theatre produced included:

Hidden St. James’s

1 - 31 August 2023

As part of Westminster City Council’s Inside Out Festival which offers the public unique and free cultural offerings in the Borough, Jermyn Street Theatre commissioned Gabriele Uboldi to write an immersive audio production directed by Carne Deputy Director Anna Ryder and starring Nadi Kemp-Sayfi. The production which “invite[d] us to be a part of the city” (★★★★★ - The Reviews Hub ) explored the history of St James’s Church, Piccadilly through the church’s birth as imagined by architect Christopher Wren, its depiction by celebrated 17th century painter Mary Beale, and into its future.

Ulysses

1 October 2023

For one day only directors Annie Kershaw, Jessica Lazar, and Darren Sinnott brought together a company of 30 actors to perform a 9 hour long production of James Joyce’s Ulysses , adapted for the stage by Robin Brooks. Featuring world renowned actors alongside those taking their first steps in the industry, the unique event built upon the theatre’s previous all-day productions including The Odyssey and Mahabharata .

Pre-show Debates

The theatre introduced pre-show debates to its programme which brought together experts on a topic related to the show. Curated by the Carne Deputy Director, these discussions brought important discussions to the theatre - expanding the work on stage beyond the performance. The debates also brought new voices to the Jermyn Street Theatre stage - Jennifer Tuckett’s involvement in the pre-show debate for Jules and Jim sparked Jermyn Street Theatre’s involvement as a founding partner of the Women in Theatre Lab - a UK version of America’s Women’s Project (WP) Lab and Australia’s Women in Theatre programme. The Women in Theatre Lab supports 10 of the UK’s most talented emerging and mid-career female playwrights selected from an open call each year, providing them with advice from leading female playwrights, a craft toolkit, business skills toolkit, one to one mentoring, a seed commission and a showcase.

Creative Associates

The Creative Associates Programme provides 10 early career theatre freelancers with a year of paid professional development to develop their artistic voice and transform their industry know-how. There are 5 pillars to the programme:

9

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

The most significant change from previous iterations was the reorganisation of the year so that the Platforming Pillar - in the form of Footprints Festival - came at the end of the Creative Associates’ year with us (January 2024.) This extra time proved beneficial in a multitude of ways: the Creative Associates could incorporate everything they’d learned over the year at Jermyn Street Theatre and could pursue a more ambitious fundraising programme. Against a broader backdrop of lower awards from Trusts & Foundations, funding bids for 2023 Creative Associates proved successful. The increased support provided the most in-depth support to the Creative Associates, as individuals, and as a cohort than had been offered previously.

Engagement has continued beyond the formal programme. Examples include:

The programme has now had three successful iterations. Fundamentally practical in its nature, the programme has a record of delivering real impact both for individuals and creates new pathways within the industry, at a time which sorely needs it.

To date, supporters of the programme include include anonymous, Philip Carne MBE & Christine Carne, The Maria Björnson Memorial Fund, The Harold Hyam Wingate Fund, Fenton Arts Trust, The Noël Coward Foundation.

10

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

S TRATEGIC REPORT

Amid the undeniably challenging backdrop for the theatre industry, Jermyn Street Theatre experienced a transformative year. 2023 proved that the new leadership model would not only work but transform the theatre’s artistic and producing capabilities. Increasing staff capacity led to a virtuous circle of sorts. Increased staff capacity led to higher box office numbers (both in box office receipts and number of purchasers). This allowed us to increase the number of weeks productions ran for which in turn increased critical attention and public awareness of the work.

The grant awarded by Backstage Trust of £100,000 annually for a period of three years is now in its second year and the impact has been significant. The grant and the security that it offers by being multi-annual has given us a surety of income to make artistically ambitious work in a more sustainable manner. This has been the foundations that have allowed recent work such as Farm Hall to tour nationally and transfer to the West End.

Increased staffing capacity has transformed both the theatre’s ability to deliver more ambitious work and the access offerings made around all of those productions, to artists and audiences alike. Beginning with audiences, the theatre now offers relaxed performances, captioned performances, and audio described introductions to productions. The theatre is now able to offer greater flexibility and support to both full-time staff members and freelancers, ensuring an environment that sustains them. The theatre also continued to partner with Ticket Bank to offer free tickets to those who wouldn’t otherwise be able to access the work.

The theatre has increased the Box Office team through the hiring of a full-time Box-Office Manager and part time Box Office Supervisor. This increased support has improved customer experience and facilitated booking pattern analysis. This analysis has made a significant contribution to increased box office revenues.

Funded by Philip Carne MBE and Christine Carne, The Carne Deputy Director position offers a theatre director with ambitions of becoming an Artistic Director the opportunity to immerse themselves in all aspects of running a theatre. They also have the opportunity to direct their own work. Genesis Future Directors Award recipient Annie Kershaw succeeded Anna Ryder in the role. Further support from the Carnes allowed us to increase the role from 3 to 4 days per week.

Thanks to increased staffing capacity, the theatre was able to claim theatre tax relief for the productions. This ensured that Jermyn Street Theatre was able to submit a successful claim for £129,642.48 for 2023 which was received in January 2024. Without the increase in staffing this would not have been possible. In a changing landscape for theatre funding the ability to claim Theatre Tax Relief is a major component of the theatre’s funding model.

11

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

Ongoing Risks

Economic Climate

The economic climate remains a significant and ongoing risk for the charity. The cost-of-living crisis has created a dual challenge: audiences have reduced disposable income for purchasing tickets, while inflation continues to escalate production costs. Additionally, a considerable number of Trusts and Foundations have either reduced their awards, or as in the case of Arts Council England, we have seen a marked increase in unsuccessful bids. Although we successfully implemented pay increases for creatives and staff following extensive fundraising efforts, much of this progress has been undermined by inflation.

To mitigate these financial pressures the theatre has:

Theatre Lease

The short term nature of the current lease has been a source of risk for the organisation, making it harder for the charity to take on longer-term strategic planning. Happily, The Crown Estate has reaffirmed its high regard for Jermyn Street Theatre, recognising its unique and integral role within the Crown’s broader cultural portfolio. They have committed to a long term future for the theatre on Jermyn Street as part of a fundamental part of their cultural portfolio.

Dialogue between the two organisations has required significant time and resources, and the Senior Management Team look forward to now refocusing more energy on the theatre’s core operations. The provision by The Crown Estate of rent-free office space, along with complimentary membership in a co-working space, has been instrumental in Jermyn Street Theatre’s growth.

Future Plans

At the time of writing we are coming to the conclusion of our 30th anniversary season. The anniversary season heralded a big step in terms of artistic and producing ambition; including a transfer of Farm Hall , Katherine Moar’s debut play, to the Theatre Royal Haymarket following a successful national tour. And on the imminent horizon: a transfer of our critically acclaimed production of The Lonely Londoners by Sam Selvon adapted for the stage by Roy Williams to Kiln Theatre, directed by former Jermyn Street Theatre Carne Deputy Director Ebenezer Bamgboye.

2024 is progressing well at the time of tiling. Ticket sales are strong and thanks to generous donations cash balances are also healthy.

12

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

Our future plans continue this commitment to artistic and producorial ambition, welcoming :

We will shortly be announcing a new season of work for Spring 2025 which includes a revival of the Olivier Awardwinning play Outlying Islands by David Greig, the English Language Premiere of Timberlake Wertenbaker’s adaptation of the memoir Little Brother , the transfer of the Edinburgh Fringe hit Lessons on Revolution by Gabriele Uboldi and Samuel Rees, and a rare London revival of Micheál Mac Liammóir’s The Importance of Being Oscar .

In addition, we've made several new partnerships dedicated to promoting the vitality of the theatre industry at large. They include the Women in Theatre Lab, the Foreign Affairs Theatre Translator Mentorship.

Our future plans are marked by their constancy to the theatre’s vision since its founding:

Taken together, these plans are about engaging greater numbers of artists and audiences to engage with the unique offering Jermyn Street Theatre makes.

13

JERMYN STREET THEATRE

TRUSTEES' REPORT

FOR THE YEAR ENDED 31 December 2023

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

REFERENCE AND ADMINISTRATIVE DETAILS

Independent Examiner

Inspiro Advisory Limited Manor Farm Ship Lane Marsworth HP23 4NA

Registered Company number

CEO19994 (England and Wales)

Registered Charity number

1186940

Registered office

16B Jermyn Street Theatre, London, SW1Y 6ST

Trustees

Mr H Jameson Ms P Horner Mr C Parkinson Mr V Sivalingam

Mr S Norris (appointed 1.8.23)

Report of the trustee’s, incorporating a strategic report, approved by order of the board of trustees as the company directors, on 24 October 2024 and signed on the board’s behalf by:

Penny Horner

Penny Horner (Oct 29, 2024 18:25 GMT)

Ms P Horner- Trustee

14

JERMYN STREET THEATRE

INDEPENDENT EXAMINER'S REPORT

FOR THE YEAR ENDED 31 December 2023

Independent examiner's report to the trustees of Jermyn Street Theatre ("the Company")

I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 December 2023.

Responsibilities and basis of report

As the charity's trustees of the Company (and also 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 Company 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 your charity's accounts as carried out under Section 145 of the Charities Act 2011 ("the 2011 Act"). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body, I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.

I have completed my examination, I can confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

  1. accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act or

  2. the accounts so not accord with those records; or

  3. the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination;

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection 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 .

Bryony Balmforth

Inspiro Advisory Limited Manor Farm Ship Lane HP23 4NA

Date 24/10/2024

15

STATEMENT OF FINANCIAL ACTIVITIES

JERMYN STREET THEATRE

FOR THE YEAR ENDED 31 December 2023

Recommended
categories by activity
Notes
Income and
endowments from:
Donations and legacies
2
Other trading activities
3
Other
4
Total
Expenditure on:
Raising funds
5
Charitable activities
6
Other
8
Total
Net
income/(expenditure)
Net movement in funds
Reconciliation of funds:
Total funds brought
forward
Total funds carried
forward		 Unrestricted
funds
£
Restricted
income funds
£
Total Funds 2023
£
Total Funds 2022
£
39,503.05
161,946.31
201,449.36
205,201.16
661,907.23
-
661,907.23
557,475.03
-
-
-
4,000.00
701,410.28
161,946.31
863,356.59
766,676.19
18,629.79
-
18,629.79
4,961.00
773,506.50
84,607.25
858,113.75
698,890.88
56,995.81
170,815.00
227,810.81
124,357.06
849,132.10
255,422.25
1,104,554.35
839,611.93
(147,721.82)
(93,475.94)
(241,197.76)
(72,935.74)
(147,721.82)
(93475.94)
(241,197.76)
(72,935.74)
222,293.31
156,181.25
378,474.56
451,410.30
74,571.49
62,705.31
137,276.80
378,474.56

16

JERMYN STREET THEATRE

BALANCE SHEET

FOR THE YEAR ENDED 31 December 2023

Recommended
categories by activity
Notes
Fixed assets
Tangible assets
9
Total fixed assets
Current assets
Stocks
Debtors
10
Cash at bank and in hand
11
Total current assets
Creditors: amounts
falling due within one
year
12
Net current
assets/(liabilities)
Total net assets or
liabilities
Funds of the Charity
Unrestricted funds
13
Restricted income funds
13
Endowment funds
13
Total funds		 Unrestricted
funds
£
Restricted
income funds
£
Total Funds
2023
£
Total Funds
2022
£
8,551.44
-
8,551.44
12,770.87
8,551.44
-
8,551.44
12,770.87
3,826.00
-
3,826.00
326.00
40,973.24
7,205.31
48,178.55
73,807.70
24,298.25
55,500.00
79,798.25
293,802.99
69,097.49
62,705.31
131,802.80
367,936.69
3,077.44
-
3,077.44
2,233
66,020.05
62,705.31
128,725.36
365,703.69
74,571.49
62,705.31
137,276.80
378,474.56
74,571.49
74,571.49
222,293.31
62,705.31
55,500.00
156,181.25
-
-
74,571.49
62,705.31
137,276.80
378,474.56

The financial statements were approved by the Board on 24-Oct-2024 and signed on its behalf by:

Penny Horner Penny Horner (Oct 29, 2024 18:25 GMT)

Howard Jameson

Howard Jameson (Oct 29, 2024 18:24 GMT)

Penny Horner Trustee

Mr H Jameson Trustee

17

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

NOTES TO THE FINANCIAL STATE1 Accounting Policies

1.1 Accounting Policies

The principal accounting policies adopted by the Charity, which is a public benefit entity, in the preparation of the accounts are as follows.

1.2 Basis of preparation

These accounts have been prepared under the historical cost convention, as modified by the inclusion of charitable properties and fixed asset investments and investment properties at valuation.

These accounts have been prepared in accordance with “Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)” (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

These accounts are presented in pounds sterling.

1.3 Income from donations or grants

Income from donations and grants is recognised when the charity is entitled to the funds, the receipt is probable and the amount can be measured reliably. For donations, this is usually on receipt. For grants, this is usually when a formal offer is made in writing. If a donation or grant contains terms and conditions outside of the charity’s control which must be met before the charity is entitled to the funds, or if the donor specifies that the funds must be used in future time periods, then the income is deferred.

1.4 Tax reclaims on donations and gifts

Gift Aid receivable is included in income when there is a valid declaration from the donor. Any Gift Aid amount recovered on a donation is considered to be part of that gift and is treated as an addition to the same fund as the initial donation unless the donor or the terms of the appeal have specified otherwise.

1.5 Income from charitable activities

Income from charitable activities is recognised over the period to which the income relates. Concert fees are recognised at the date of the event. Membership fees are recognised over the period of the membership. Rent is recognised over the period to which it relates. Any amounts relating to future periods are deferred.

1.6 Other trading income

Other trading income from non-charitable sources is recognised over the period to which it relates, any relating to future periods is deferred.

18

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

1.7 Expenditure

Expenditure is recognised when a present legal or constructive obligation exists at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefits will be required to settle the obligation, and the amount can be estimated reliably. It is inclusive of VAT which cannot be recovered.

Direct costs are those costs which directly attribute to its activities. Wages and salaries are allocated to direct costs based on an estimate of time spent on charitable activities by staff members.

Support costs include staff costs and are those which do not produce a direct output. Staff costs relate to specific activities, and this is reflected in the allocation of payroll costs based on the percentage of time spent. All costs, including governance costs, are allocated between the expenditure categories of the charity on a basis designed to reflect the use of the resource. Costs relating to a particular activity are charged directly; others are apportioned on an appropriate basis.

Support costs and overheads have been calculated by allocating staff time to the level of involvement in the various activities of the Charity.

1.8 Creditors

The charity has creditors which are measured at settlement amounts less any trade discounts.

1.9 Financial instruments

Charities preparing accounts normally measure a basic financial asset or basic financial liability on its initial recognition at the amount receivable or payable adjusted for any related transaction costs. However, if initially measured at fair value, transaction costs are not included in the measurement of financial assets or liabilities; instead, the transaction costs are treated as an expense. If extended credit is offered, the accounting treatment depends on those extended credit terms.

The subsequent measurement of financial assets and financial liabilities depends on their nature and settlement dates. The carrying amount must be calculated without any deduction for transaction costs that may be incurred on sale or disposal.

1.10 Fund accounting

Unrestricted funds are those 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. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes.

1.11 Tangible fixed assets

Tangible fixed assets, such as land and buildings, plant, vehicles and equipment, are held to provide an on-going economic benefit to a charity through their contribution, directly or indirectly, to the provision of goods or services by the charity.

Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:

19

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

Asset Rate (%) Method
Computer Equipment 25% On cost

1.12 Debtors

Debtors (including trade debtors and loans receivable) are measured on initial recognition at settlement amount after any trade discounts or amount advanced by the charity. Subsequently, they are measured at the cash or other consideration expected to be received.

2 Income from Donations

Analysis
Donation and gifts
General grants provided
by Government/other
charities		 Unrestricted
funds
Restricted
income funds
Total funds 2023 Total funds 2022
£
£
£
£
14,216.05
161,946.31
176,162.36
182,235.16
25,287.00
-
25,287.00
22,966.00
39,503.05
161,946.31
201,449.36
205,201.16

3 Income from Other Trading Activities

Analysis
Other trading activities
Ticket sales		 Unrestricted funds
Total funds 2023
Total funds 2022
£
£
£
163,990.23
163,990.23
133,009.33
497,917.00
497,917.00
424,465.70
661,907.23
661,907.23
557,475.03

20

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

4 Other Income

4 Other Income
Analysis
Business rates relief		 Total funds 2023
Total funds 2022
£
£
-
4,000.00
-
4,000.00

5 Expenditure on Raising Funds

Analysis Total funds 2023 Total funds 2022 Purchases 18,629.79 4,961.38

21

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

6 Expenditure on Charitable Activities

Analysis
Piano hire and
maintenance
Advertising
Bank charges
Rent rates & service
charge
Telephone
Postage and stationery
Insurance
Artists and producers
Technical & electrical
Casual staff
Maintenance &
janitorial
Sundries
Computer expenses
Support Costs		 Total funds 2023
Total funds 2022
£
£
240.00
2,575.32
51,639.81
45,897.03
132.80
254.48
87,567.93
74,777.00
7,557.27
4,629.66
25,636.52
21,484.80
(1,021.02)
4,647.54
613,870.87
386,992.85
6,750.58
77,387.99
27,504.09
39,730.83
13,688.60
11,839.22
1,687.96
7,634.83
3,146.99
7,066.91
19,711.35
13,972.42
858,113.75
698,890.88

22

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

7 Support Costs

7 Support Costs
Analysis
Soldo charges
Credit card interest & charges
Governance Costs
Accountants’ fees
Independent examiner		 Total funds 2023
Total funds 2022
£
£
418.98
266.57
33,726.12
22,538.66
838.80
-
1,800.00
2,569.80
36,783.90
25,375.03

8 Other Expenditure

Analysis
Staff welfare
Depreciation Charge
for the Year -
Computer Equipment
Wages
Social security
Pensions
Travel & subsistence
Staff entertaining		 Unrestricted
funds
Restricted
income funds
Total funds 2023
Total funds 2022
£
£
£
£
449.07
-
449.07
1,253.24
7,107.43
-
7,107.43
6,385.43
27,576.81
170,815.00
198,391.81
100,901.34
12,701.49
-
12,701.49
4,939.30
3,211.53
-
3,211.53
2,140.99
4,901.99
-
4,901.99
3,363.31
1,047.49
-
1,047.49
5,373.45
56,995.81
170,815.00
227,810.81
124,357.06

23

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

9.1 Cost or valuation

9.1 Cost or valuation
At 01 January 2023
Additions
Disposals
Revaluations
Transfers
At 31 December 2023		 Computer Equipment
£
25,541.73
2,888.00
-
-
-
28,429.73

9.2 Amortisation and impairments

9.2 Amortisation and impairments
At 01 January 2023
Additions
Disposals
Revaluations
Transfers
At 31 December 2023		 Computer Equipment
£
12,770.86
7,107.43
-
-
-
19,878.29

9.3 Net book value

9.3 Net book value
At 01 January 2023
At 31 December 2023		 Computer Equipment
£
12,770.87
8,551.44

24

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

10 Debtors: Amounts falling due within one year

10 Debtors: Amounts falling due within one year
Prepayments & accrued income
Other debtors		 Total funds 2023
Total funds 2022
£
£
44,515.91
-
327.00
-
48,178.55
-

11 Cash at bank and in hand

Cash in hand
Bar cash
Bank account		 Total funds 2023
Total funds 2022
£
£
19,546.04
15,880.00
76.00
1,095.70
60,176.21
276,827.29
79,798.25
293,802.99

12 Creditors: Amounts falling due within one year

Accruals and deferred income
Taxation and social security
Other creditors
Pensions payable
Wages payable
Soldo		 Total funds 2023
Total funds 2022
£
£
1,800.00
1,800.00
240.24
-
1,615.60
1,333.00
776.36
369.06
(20.65)
(9.00)
(1,334.11)
(1,260.06)
3,077.44
2,233.00

25

JERMYN STREET THEATRE

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 December 2023

13. Movements in Funds

At 01.01.23 Net movement in funds At 31.12.23
Unrestricted fund 222,293 (147,722) 74,571
Restricted funs 156,181 (100,681) 55,500
Total funds 378,474 (241,198) 137,276

26

AnnualAccount_01-Jan-2023-31-Dec-2023 final

Final Audit Report 2024-10-29

Created: 2024-10-29 By: Bryony Balmforth (bryony@inspiroadvisory.co.uk) Status: Signed Transaction ID: CBJCHBCAABAApFskNORCtGqnQgjHcVD5QIm5ZNMu7I2s

"AnnualAccount_01-Jan-2023-31-Dec-2023 final" History

Document created by Bryony Balmforth (bryony@inspiroadvisory.co.uk) 2024-10-29 - 18:03:01 GMT

Document emailed to Penny Horner (pennyhorner@jermynstreettheatre.co.uk) for signature 2024-10-29 - 18:03:06 GMT

Document emailed to Howard Jameson (pennyhorner@jermynstreettheatre.co.uk) for signature 2024-10-29 - 18:03:06 GMT

Document emailed to Bryony Balmforth (bryony@inspiroadvisory.co.uk) for signature 2024-10-29 - 18:03:06 GMT

Email viewed by Penny Horner (pennyhorner@jermynstreettheatre.co.uk) 2024-10-29 - 18:23:15 GMT

Email viewed by Howard Jameson (pennyhorner@jermynstreettheatre.co.uk) 2024-10-29 - 18:23:51 GMT

Document e-signed by Howard Jameson (pennyhorner@jermynstreettheatre.co.uk) Signature Date: 2024-10-29 - 18:24:32 GMT - Time Source: server

Document e-signed by Penny Horner (pennyhorner@jermynstreettheatre.co.uk) Signature Date: 2024-10-29 - 18:25:21 GMT - Time Source: server

Document e-signed by Bryony Balmforth (bryony@inspiroadvisory.co.uk) Signature Date: 2024-10-29 - 18:32:47 GMT - Time Source: server

Agreement completed.

2024-10-29 - 18:32:47 GMT