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. - ★★★★★ - “Perfect in every respect” _ReviewsGate_ ★★★★★ - “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 - **Learning:** Creative Associates attended masterclasses with industry leaders to give them valuable skills to develop them as artists and their future work. - **Development:** Creative Associates were given funds to research and develop a new idea with the support of the Jermyn Street Theatre’s artistic, producing, and production teams. - **Mentoring:** Creative Associates received one-on-one mentoring from a 'future them' to help guide their careers and offer them practical support at a crucial juncture. - **Assisting:** Creative Associates assisted established artists on Jermyn Street Theatre productions throughout the year gaining valuable credits, experience, and a new network of artists to collaborate with. - **Platforming:** Creative Associates work is presented in the heart of the West End giving them a unique opportunity to showcase their work. 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: - commissioning writers from the programme - producing work from artists on the programme - hiring artists on a freelance basis to work on productions at the theatre, including on our recent West End transfer of _Farm Hall_ 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: - Expanded staffing. The investment in staffing has paid off in the following ways: - Increased staffing on productions - both in-house and freelancers - facilitated a more rigorous tender process and streamlined reconciliation of accounts. - Increased Box Office staffing ensured high quality of customer experience to ensure repeat bookings. - Increased contingency budgets for productions to smooth out potential volatility. ## **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 : - _Pride & Prejudice_ , 19 August - 7 September 2024, adapted for the stage by Abigail Pickard Price with Sarah - Gobran and Matt Pinches, and directed by Abigail Pickard Price. - _Janie Dee’s Beautiful World Cabaret_ , 24 - 28 September 2024 - _Eurydice_ by Sarah Ruhl, directed by Stella Powell-Jones, 3 October - 7 October 2024. - _Not Beckett_ which is an international rolling world premiere of five newly commissioned short plays by female-identifying writers of Irish heritage which will continue on to Dublin, Paris, New York, Philadelphia, and Reading. - _Napoleon: Un Petit Pantomime_ by John Savournin and David Eaton, directed by John Savournin and Benji Sperring, 21 November 2024 – 5 January 2025. - _The Maids_ by Jean Genet, translated by Martin Crimp, directed by former Jermyn Street Theatre Carne Deputy Director Annie Kershaw, 9 – 22 January 2025. 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: - Our commitment to affordable tickets that remains unwavering. Jermyn Street Theatre being a theatre where you can see world class artists alongside exciting new voices at affordable price points will continue to be a cornerstone of our offering. - Building on our recent work, for example commissioning more new work, building new partnerships both nationally and internationally. - We have recently increased our Access offering for audiences and theatre artists and makers on stage and off and have further plans to do so. 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