OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2022-03-31-accounts

��������������������������

��� 1927 PRODUCTIONS LIMITED

�������������������������������

��������������������������������

������������������������

�����

����
��������������� ���
���������������������������
������������������������������
������������
����������������������������� �����

������������������������

�������������������������������������������������

����������������������������������������������������������������������������������������� �����������

������������������������������������������������������������������������������������������ ��������������������������������������������������������������������������������� �������������������������������������������������������������������������������������������

������������������������������������

�������� �����������������
�������������������������������
���������������������
����������������������� �������
���������������� ���������������
�������
����
������
�������������������� ��������������
����������������
�������������
���������������
������

1927 PROD�C�ION� LIMI�ED

�R���EE�' REPOR� FOR �HE �EAR ENDED 31 MARCH 2022

1927 �as fo�nded in 2005, la�nched in 2007 and legall� incorpora�ed as 1927 Prod�c�ions Limi�ed, a compan� limi�ed b� g�aran�ee, in 2011. In 2021, �e become a regis�ered chari��, �i�h o�r Board of Direc�ors as fo�nding Tr�s�ees.

O�r Vision is �o:

O�r MI��ION: From o�r homes in Marga�e and London o�r mission is �o �se all �he �eapons in o�r crea�i�e armo�r� - s�or��elling, anima�ion, performance, m�sic and digi�al inno�a�ion - �o iden�if�, lis�en �o, connec� and collabora�e �i�h e�cep�ionall� �alen�ed ar�is�s, �eachers, �o�ng people and a�diences �o e�pand o�r collec�i�e crea�i�e hori�ons, means of self-e�pression and engagemen� �i�h �he �orld aro�nd �s.

1. A����������� ��� P���������� A���� 2021-M���� 2022

D�ring �he 2021-2022 �ear, 1927 con�in�ed �o p�rs�e i�s Vision and carries o�� i�s Mission, �hro�gh deli�er� of 4 in�erlinked Ar�is�ic programme s�rands - Li�e Performance; Crea�i�e Learning; Talen� De�elopmen� & Anima�ed Worlds (digi�al) ac�i�i�ies.

1.1 L��� P����������

1927 sho�s are e�hilara�ing h�brid e�periences �ha� place digi�al con�en� a� �he hear� of �he �hea�rical e�en�. Crea�ed �hro�gh a �niq�e collabora�ion be��een li�e & digi�al ar�is�s, sho�s are craf�ed �hro�gh e��ended crea�i�e processes, made �i�h UK & in�erna�ional co-prod�cers and ha�e his�oricall� pla�ed in reper�oire & �o�r e��ensi�el� across �he UK and globall�, �i�h e��ensi�e p�blic reach across long �o�ring li�es.

2021-2022 �as an impor�an� �ear of rese� for 1927 follo�ing �he se�ere disr�p�ions posed b� �he clos�re of �hea�res and opera ho�ses �orld�ide d�e �o �he pandemic, �hich had seen o�r Li�e Performance programme pa�sed for m�ch of �he pas� ��o �ears. Al�ho�gh �here �ere s�ill some los� performances in Spring and S�mmer d�e �o local and na�ional lockdo�ns, �e �ere able �o foc�s on la�ing �he fo�nda�ions for o�r co�id reco�er� b� res�ar�ing o�r programme - �nder�aking commissioning, crea�ion and de�elopmen� on ne� prod�c�ions, re�i�ing �ork for �o�ring and sec�ring ne� in�erna�ional licensing and presen�a�ions helping 1927 �o emplo� freelance crea�i�es, celebra�e o�r crea�i�i�� and s�a� connec�ed �i�h a�diences. The ac�i�i�ies and reach �hro�gh o�r li�e performance April 2021-March 2022 �as as follo�s:

----- Start of picture text -----
P��������� L������� D����� N� �� A�������
P����������� R����
Roo�� Wil�on�s M�sic Hall, Re�i�al and 4-�eek London season, 27 3,411
London incl�ding 1 ne� cas� member, 1 ne� S�aff
direc�or and 1 ne� AV assis�an� a��ached
�o �he sho�.
The Magic Komische Oper Reper�oire re�i�al 18 9,660
Fl��e Berlin
Danish Na�ional Reper�oire re�i�al 5 4,250
Opera,
Copenhagen,
Denmark
L�ric Opera of Ne� prod�c�ion 7 24,500
Chicago, USA
Israeli Na�ional Ne� prod�c�ion 9 9,900
Opera
Polish Na�ional Reper�oire re�i�al 6 7,425
Opera, Warsa�,
Poland
----- End of picture text -----

2

1927 PROD�C�ION� LIMI�ED

�R���EE�' REPOR� FOR �HE �EAR ENDED 31 MARCH 2022

----- Start of picture text -----
Ho�s�on Grand Ne� prod�c�ion 7 9,800
Opera, Te�as, USA
Des Moines Me�ro Ne� prod�c�ion 2 3,200
Opera, Indianola,
Io�a, USA
Please Marga�e & London De�elopmen� of ne� �hea�re sho� Please NA NA
Righ� Back Righ� Back for premiere in 2022 in A�s�ria
�i�h �he B�rg�hea�er Vienna & in 2023 in
�he UK.
Golem Hong Kong Cap��re Screening 1 1,200
������ 81 73,346
----- End of picture text -----

1.2 C������� E���������

A� 1927 �e �an� �o fire children and �o�ng people�s imagina�ions, f�el �heir c�riosi��, de�elop �heir crea�i�i�� and increase �heir c�l��ral capi�al. 1927s crea�i�e engagemen� ac�i�i�ies help �s �o do �his b� inspiring �he ne�� crea�i�e genera�ion and f���re a�diences.

Ke� ac�i�i�ies �e �nder�ook d�ring �he 2021-2022 �ere as follo�s:

����� A�������� L������ P��������: Deli�ering free �eekl� �erm �ime �orkshops for all Year 5 p�pils a� Drapers Mills Primar� �o de�elop crea�i�e e�per�ise, skills, learning and a��ainmen�, collabora�ing �i�h �eachers �o b�ild skills �o s�ppor� an ongoing anima�ion making offer �i�hin �he school going for�ards, and offering a �o�ng associa�e �rainee pos�.

����� C�������� : A series of m�sic scoring and composi�ion �orkshops for �ear 6 children a� S� La�rence in Thane� Primar� Ramsga�e.

B���� & J��� : An o��door da� of p�ppe� making, perc�ssion and bread �orkshops in Enfield for children, �heir paren�s and g�ardians and members of �he local comm�ni�� in collabora�ion �i�h �he M�se�m of Enfield.

R���������� ��� ������ P���: A ������������� ���� UCL Ins�i���e of Ed�ca�ion Researchers, Children and �eachers a� Hol� Trini�� Primar� Camden and s�ppor�ed b� UK Li�erar� Associa�ion �� prac�icall� e�plore ho� �he primar� school pla� migh� be rein�en�ed �o in�egra�e �performa�i�e digi�al anima�ion� in�o con�en�ionall� s�r�c��red school prod�c�ions �o e�pand crea�i�e media li�eracies.

----- Start of picture text -----
P������ L������� N� �� �������� N����� ��
P�����������
Yo�ng Anima�ion Drapers Mills Primar�, Marga�e 22 110
Leaders
Yo�ng Composers S� La�rence in Thane�, Ramsga�e 4 30
Bread & Jamm P�mmes Park, Enfield 1 30
Re-in�en�ing �he Uni�ersi�� of London Ins�i���e of Ed�ca�ion & 4 30
school pla� Hol� Trini�� Primar� School
������ 31 200
----- End of picture text -----

1.3 ������ D���������� & �������

Thro�gh o�r Ar�is� S�ppor� Ac�i�i�ies, �e seek �o share kno�ledge, skills & ne��orks �i�h peers; pro�ide oppor��ni��, in�es� in, empo�er, and open pa�h�a�s for emerging ar�s professionals incl�ding �hose �ho migh� e�perience barriers �o �he ar�s. Ac�i�i�ies deli�ered across �he �ear incl�ded:

3

1927 PROD�C�ION� LIMI�ED

�R���EE�' REPOR� FOR �HE �EAR ENDED 31 MARCH 2022

1.4 A������� ������

1927�s �ork is a comple�e f�sion of �he li�e and digi�al. 1927�s Anima�ed Worlds ac�i�i�ies see �s �ake �his one s�ep f�r�her �o e��end o�r reach b� dis�rib��ing cap��red con�en�, de�eloping original digi�al crea�i�e con�en� and sharing crea�i�e learning reso�rces digi�all�.

We con�in�ed �o de�elop o�r �Behind �he Screens� and �Anima�ed World�s� online digi�al reso�rces, pro�iding digi�al crea�i�e learning insigh�s in�o o�r �ork for learning and ed�ca�ion p�rposes and sharing anima�ions crea�ed b� par�icipan�s of o�r Crea�i�e Learning par�icipa�or� ac�i�i�ies. Across �hese ac�i�i�ies a forecas� 22,500 people engaged.

2. M��������� & G���������

1927�s Memorand�m & Ar�icles of Associa�ion se� o�� o�r chari�able p�rpose and ho� �e are go�erned and led. The Ar�icles de�ail responsibili�ies, po�ers and delega�ed a��hori�ies of �he Board and Leadership.

Tr�s�ees are responsible for ens�ring 1927 is �ell go�erned, scr��inised and held �o acco�n� - pro�iding s�ra�egic leadership, moni�oring financial s�ra�eg� and risk, a��horising s�akeholder rela�ionships, addressing s�ccession planning and ens�ring 1927�s programme and opera�ional obliga�ions are �ell managed. As par� of �his, �he board of Tr�s�ees appro�e and ann�all� refresh a s�i�e of go�ernance and proced�ral doc�men�s and organisa�ional policies.

Tr�s�ees mee� 4 �imes a �ear, incl�ding 1 AGM.

L��������� & O���������

The Tr�s�ees delega�e leadership of 1927 �o �he E�ec��i�e �eam, comprised of 2 Co-Ar�is�ic Direc�ors and E�ec��i�e Prod�cer. Addi�ionall�, 1927�s core �eam is presen�l� comprised of an Associa�e Ar�is�ic Direc�or, Associa�e Ar�is� and Adminis�ra�or. 1927 reg�larl� collabora�es �i�h specialis�s, cons�l�an�s and a ros�ra of Crea�i�e Associa�es, prod�c�ion, ed�ca�ion and performance specialis�s are engaged �o s�ppor� deli�er� of o�r ar�is�ic programme. We in�es� in professional de�elopmen� & �raining of o�r core �eam, freelance collabora�ors & board, considering �his as pi�o�al �o o�r ongoing resilience & progress. 1927 is based in Thane� �i�h a s��dio loca�ed in Clif�on�ille, Marga�e, an office in Ha�le� Sq�are Marga�e and access �o ho� desk space in �he capi�al a� �he Ro�ndho�se, �here 1927 is an Associa�e Compan�.

3. F�������� R�����

1927 opera�es a �ripar�i�e b�siness model dra�ing income from p�blic bodies, f�ndraising and earned so�rces. In �he pre-pandemic financial �ear ending 31 March 2020, 32% of o�r income �as deri�ed from ACE NPO in�es�men�, 5% con�rib��ed income and 63% earned income. 1927 is an Ar�s Co�ncil England Na�ional Por�folio Organisa�ion in receip� of f�nding for �he period 2018-2022, has been a�arded f�nding for 2022-2023 and 2023-2026.

The comple�e clos�re of �hea�res and fes�i�als �orld�ide for significan� blocks of �he pas� 2 �ears mean� Ind�s�r� par�ners commissioning, co-prod�c�ion, in�es�men�, and programming reso�rce ha�e been significan�l� red�ced. Whils� social dis�ancing has largel� been lif�ed, �e recognise �ha� a�dience confidence �o a��end c�l��ral ac�i�i�ies �ill �ake �ime �o reb�ild, par�ic�larl� for �hose �i�h �nderl�ing heal�h concerns and caring responsibili�ies. Addi�ionall� ne� cos� implica�ions follo�ing �he UKs depar��re from �he EU and

4

1927 PROD�C�ION� LIMI�ED

�R���EE�' REPOR� FOR �HE �EAR ENDED 31 MARCH 2022

in�erna�ional �ra�el res�ric�ions ha�e impac�ed �he approach �e are �aking �o reb�ilding. Agains� �his backdrop, �o ens�re �e can foc�s on �he crea�ion of ne� �ork, res�ar� o�r �o�ring programme �o mee� marke� demand, emplo� o�r crea�i�e and prod�c�ion �orkforce and be bes� placed �o gro� earned income and e�perimen� �i�h ne� models for in�erna�ional co-crea�ion for on�ard resilience, �e s�ccessf�ll� sec�red �106,562 DCMS C�l��ral Reco�er� F�nding in 2021

Thro�gh rigoro�s and rob�s� financial planning & mon�hl�, q�ar�erl� and ann�al repor�ing (Managemen� Acco�n�s, Cashflo�s, B�dge�s, A�di�ed Acco�n�s moni�ored and appro�ed b� �he Tr�s�ees), main�aining ins�rances and reser�es �o pro�ec� o�r asse�s and ac�i�i�ies, con�ingenc� plans and f�nds, s�rong go�ernance, leadership and rigoro�sl� efficien� financial managemen� �he organisa�ion con�in�es �o manage and mi�iga�e risk despi�e a frac��red global economic clima�e.

R������� P�����

Since 2019 �e ha�e main�ained �108,397 in reser�es. We ha�e �orked hard �hro�gho�� �he pandemic and across �he 2 financial �ears 2020-22 �o pro�ec� �he s�abili�� & resilience of o�r organisa�ion. Thro�gh s�ringen� financial modelling �e �ill ens�re �e �ill carr� a �110,529 Reser�e for�ard �o �nderpin o�r capaci�� �o dri�e for�ards �i�h s�abili��. This reser�e is alloca�ed as �86,500 for core o�erheads, salaries and fees + �24,029 programme reser�e.

F����������

A �orld�ide pandemic forcing a global economic challenge. The UK�s depar��re from �he EU. There �ill ine�i�abl� con�in�e �o be global financial ins�abili�� ahead. Smaller re��rns on in�es�men�s; red�c�ions in b�siness profi�s and increased p�blic sec�or demands �ill likel� decrease philan�hropic, b�siness and p�blic f�nds a�ailable b�� increase comple�ion.

Fr�gal adminis�ra�ion, rigoro�s financial managemen� and di�ersifica�ion of income so�rces �ill be ke�. 1927�s Crea�i�e Learning and Talen� De�elopmen� ac�i�i�ies increase �he �angible social benefi�s and o��p��s of 1927's �ork. O�r recen� �ransi�ion �o a chari�able s�r�c��re �i�h demons�rable social benefi�s, comes a� a pi�o�al momen� opening ne� f�nding pa�h�a�s in par�ic�lar Tr�s� and Fo�nda�ion f�nding �o di�ersif� f�nding s�reams for 1927.

1927 is for��na�e �o be f�nded b� Ar�s Co�ncil England as a Na�ional Por�folio Organisa�ion, offering significan� f�nding and �nderpinning �he organisa�ional s�abili�� going for�ards o�er �he coming �ear. Implemen�a�ion of o�r F�ndraising S�ra�eg� �ill g�ide �s �hro�gh o�r endea�o�r �o di�ersif� o�r income and proc�re reso�rce �o�ards o�r chari�able ac�i�i�ies, �i�h a specific foc�s on comm�ni�� loca�ed ac�i�i�ies.

R����

1927, �orks in �he p�blic realm, na�ionall� and in�erna�ionall�. O�r programme is based on �orking inno�a�i�el�, e�perimen�all�, ambi�io�sl� and collabora�i�el�. Par�nerships and �nres�ric�ed earned re�en�e from in�erna�ional �o�ring, licensing and co-prod�c�ions has been cen�ral �o o�r b�siness model for o�er a decade. Wi�h ne� res�ric�ions in mobili�� and an increased financial b�rden �hro�gh ne� processes bo�gh� abo�� b� Co�id and Bre�i�, �his model co�ld carr� risk.

We an�icipa�e o�r li�e performance programme �ill be impac�ed b� �he pandemic and �he UK�s e�i� from �he EU �hro�gh �o �he middle of �his decade. We ha�e been realis�ic in o�r planning and are no� en�isaging a re��rn �o o�r pre-pandemic le�els of �o�ring, reach or earned income re�en�e o�er �he coming �ear.

A solid organisa�ional s�r�c��re, s�rong go�ernance, a leading �eam, and e�per�ise a� all le�els �ill ens�re risk is managed effec�i�el�. We ha�e f�ll� considered approaches �o risk mi�iga�ion, moni�oring, and managemen� as par� of o�r ongoing prac�ice. A con�ingenc� programme plan and con�ingenc� b�dge� scenarios ha�e been prepared; a�areness of risks and risk mi�iga�ion as par� of o�r on-going prac�ice is imbedded across all ac�i�i�ies and a Risk Regis�er for �he �ear has been de�eloped.

1927 PROD�C�ION� LIMI�ED

�R���EE�' REPOR� FOR �HE �EAR ENDED 31 MARCH 2022

E�����, D�������� & I��������

Eq�i��, incl�sion, access & oppor��ni�� for all si�s a� �he core of e�er��hing �e do. We s�ri�e for eq�ali��, eq�i�� and di�ersi�� in all areas of o�r crea�i�e programme, opera�ions and reach. In p�rs�i� of �his �e ha�e implemen�ed a �ime-bo�nd deli�er� plan for �he �ear �o g�ide �s �hro�gh a process of implemen�a�ion, change and impro�emen� �o s�ppor� o�r de�elopmen�, imbed incl�si�e prac�ices across �he leadership of �he organisa�ion and pla� o�r par� in con�rib��ing �o a more eq�i�able, di�erse and incl�si�e ar�s sec�or �i�h a board, �orkforce, a�dience and par�icipan�s �ha� are represen�a�i�e of �he comm�ni�ies �here �e �ork.

������������

1927 is commi��ed �o pro�ec�ing �he �elfare of children and ��lnerable ad�l�s. We belie�e �ha� e�er�one has �he righ� �o li�e and �ork free from ab�se of an� kind. We consider i� o�r responsibili�� �o keep children and ��lnerable ad�l�s safe and �e are commi��ed �o pro�ec�ing children and ��lnerable ad�l�s in all of o�r ac�i�i�ies and pro�iding a safe and s�ppor�i�e place �o �ork. O�r Safeg�arding Polic� has been de�eloped in accordance �i�h �his commi�men� and �he req�iremen�s and principles of s�a���or� legisla�ion.

F����� P����

O�er �he coming �ear 1927 �ill con�in�e �o p�rs�e Vision and carries o�� i�s Mission, �hro�gh deli�er� of i�s 4 in�erlinked Ar�is�ic programme s�rands - Li�e Performance Crea�i�e Learning; Talen� De�elopmen� & Anima�ed Worlds (digi�al) ac�i�i�ies � ke� plans incl�de:

1927 PRODUCTIONS LIMITED

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF 1927 PRODUCTIONS

I �epo��on �he acco�n��fo��he �����ee�on m�e�amina�ion of �he acco�n��of 1927 P�od�c�ion�fo��he �ea� ended 31 Ma�ch 2022 a� �e� o�� on page� 8 �o 15.

Responsibilities and basis of report

Independent E�aminer�s Statement

I ha�e comple�ed m�e�amina�ion. I confi�m �ha�no ma�e�ial ma��e��ha�e come �o m�a��en�ion in connec�ion �i�h �he e�amina�ion �hich gi�e� me ca��e �o belie�e �ha� in an� ma�e�ial �e�pec�:

I ha�e no conce�n�and ha�e come ac�o��no ma��e��in connec�ion �i�h �he e�amina�ion �o �hich a��en�ion �ho�ld be d�a�n in �hi� �epo�� in o�de� �o enable a p�ope� �nde���anding of �he acco�n�� �o be �eached.

N�nn Ha��a�d LLP Cha��e�ed Acco�n�an�� and S�a���o�� A�di�o��

Da�ed:

2-4 Packho��e Road Ge��a�d� C�o�� B�ckingham�hi�e SL9 7QE

7

1927 PRODUCTIONS LIMITED

STATEMENT OF FINANCIAL ACTIVITIES (INCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2022

----- Start of picture text -----
Unrestricted Restricted Total Unrestricted
Funds Funds Funds Funds
2022 2022 2022 2021
Notes � � � �
INCOME AND ENDOWMENTS
Artistic Programme Income 3 402,350 47,907 450,257 328,788
TOTAL INCOME 402,350 47,907 450,257 328,788
EXPENDITURE
Costs of Artistic Programme:
Charitable acti�ities 4 431,530 12,831 444,361 326,656
TOTAL EXPENDITURE 431,530 12,831 444,361 326,656
NET INCOME/(EXPENDITURE) FOR THE (29,180) 35,076 5,896 2,132
YEAR/NET MOVEMENT IN FUNDS
-
Fund balances brought forward 12,13 110,529 110,529 108,397
Fund balances carried forward 12,13 81,349 35,076 116,425 110,529
----- End of picture text -----

The statement of financial acti�ities incl�des all gains and losses recognised in the �ear. All income and e�pendit�re is deri�ed from contin�ing acti�ities.

The notes on pages 10 - 15 form part of these financial statements.

8

1927 PRODUCTIONS LIMITED

BALANCE SHEET AS AT 31 MARCH 2022

Notes
£
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors due within one year
8
5,673
Cash at bank and in hand
9
236,324
241,997
CREDITORS -
Amounts falling due within one year
Creditors and accruals
10
179,514
NET CURRENT ASSETS
NET ASSETS
13
Restricted funds
12
Unrestricted funds
12
TOTAL CHARITY FUNDS
12
Notes
£
FIXED ASSETS
Tangible assets
7
CURRENT ASSETS
Debtors due within one year
8
5,673
Cash at bank and in hand
9
236,324
241,997
CREDITORS -
Amounts falling due within one year
Creditors and accruals
10
179,514
NET CURRENT ASSETS
NET ASSETS
13
Restricted funds
12
Unrestricted funds
12
TOTAL CHARITY FUNDS
12
2022
£
£
53,942
9,895
237,457
247,352
156,886
62,483
116,425
35,076
81,349
116,425
2021
£
20,063
90,466
241,997
179,514
110,529
-
110,529
110,529

The trustees acknowledge their responsibilities for:

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies for the year ended 31 March 2022.

The trustees have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 in accordance with section 476 of the Companies Act 2006.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the board of trustees on 20 December 2022 and signed on its behalf by:

Judith Dimant

Trustee

Registered charity number: 1194657

The notes on pages 10 - 15 form part of these financial statements.

9

1927 PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

1 STATUTORY INFORMATION

The 1927 Prod�ctions Limited is a registered charit�(n�mber 1194657) constit�ted �nder deed of tr�st,domiciled in the UK and is a p�blic benefit entit�. The principal office is 72 Northdo�n Road,Margate, CT9 2RL.

The acco�nts are presented in � Sterling and ro�nded to the nearest �1.

2 STATEMENT OF ACCOUNTING POLICIES

The acco�nting policies adopted, j�dgements and ke�so�rces of estimation �ncertaint�in the preparation of the financial statements are as follo�s:

2.1

Basis of preparation

The financial statements ha�e been prepared in accordance �ith Acco�nting and Reporting b� Charities: Statement of Recommended Practice applicable to charities preparing their acco�nts in accordance �ith the Financial Reporting Standard applicable in the UK and Rep�blic of Ireland (FRS102) (effecti�e 1 Jan�ar�2019) - (Charities SORP (FRS 102)), Charities Act 2011 and United Kingdom Generall� Accepted Practice as it applies from 1 Jan�ar� 2019.

1927 Prod�ctions meets the definition of a p�blic benefit entit��nder FRS 102. Assets and liabilities are initiall�recognised at historical cost or transaction �al�e �nless other�ise stated in the rele�ant acco�nting polic� note(s).

These financial statements are prepared in accordance �ith applicable charit� la�.

2.2 Going Concern

At the time of appro�ing the financial statements, the charit� has reasonable e�pectation that it has adeq�ate reso�rce to contin�e in operational e�istence for the foreseeable f�t�re. Th�s, contin�e to adopt the going concern basis of acco�nts in preparing the financial statements.

2.3 Income

All incoming reso�rces are recognised once the charit�has entitlement to the reso�rces, it is certain that the reso�rce �ill be recei�ed and the monetar��al�e can be meas�red �ith s�fficient reliabilit�.

Donations in kind of listed shares are �al�ed �sing the market �al�e on the date of receipt.

2.4 E�penditure

Liabilities are recognised as reso�rces e�pended as soon as there is a legal or constr�cti�e obligation committing the charit�to the e�pendit�re. All e�pendit�re is acco�nted for on an accr�als basis.

Charitable acti�ities are grants made to third parties in the f�rtherance of the charitable objecti�es of the tr�st.

Go�ernance costs comprises e�pendit�re inc�rred for constit�tional and stat�tor�req�irements and are incl�ded �ithin e�pendit�re on charitable acti�ities.

2.5 Fi�ed Assets

Tangible fi�ed assets are stated at cost less depreciation. Depreciation is pro�ided on a red�cing balance basis o�er the e�pected �sef�l li�es of the assets as follo�s starting once the asset is bro�ght into �se:

10

1927 PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (continued)

2.6 Funds

Unrestricted f�nds (general f�nds and designated f�nds) are those f�nds e�pendable at the discretion of the tr�stees in accordance �ith the charitable objects.

Restricted f�nds are monies raised for, and their �se restricted to, a specific p�rpose, or donations s�bject to donor imposed conditions.

2.7 Foreign currenc� translation

Monetar�assets and liabilities denominated in foreign c�rrencies are translated into Po�nd Sterling at the rates of e�change r�ling at the balance sheet date. Transactions in foreign c�rrencies are recorded at the rate of e�change r�ling at the date of the transaction. All differences are taken to the Statement of Financial Acti�ities.

2.8 Ta�ation

2.9 Financial instruments

The charit�onl�has financial assets and liabilities of a kind that q�alifies as basic financial instr�ments. Basic financial instr�ments are initiall�recognised at transaction �al�e and s�bseq�entl�meas�red at amortised costs �sing the effecti�e interest method. Financial assets held at amortised comprise cash at bank and other debtors. Financial liabilities held at amortised cost comprise other creditors.

In�estments, incl�ding bonds held as part of an in�estment portfolio, are held at fair �al�e at the balance sheet date, �ith gains and losses being recognised �ithin income and e�pendit�re.

Grants receivable

2.10 Grants receivable Grants are recognised �hen there is reasonable ass�rance that the grant conditions �ill be met and that the grants �ill be recei�ed.

2.11 Cash and cash equivalents

Cash and cash eq�i�alents comprise cash in hand, c�rrent and deposit acco�nts held at the bank.

2.12 Judgements and estimation

Preparation of the financial statements req�ires management to make j�dgements, estimates and ass�mptions abo�t the carr�ing �al�e of assets and liabilities that are not readil� apparent from other so�rces. The estimates and �nderl�ing ass�mptions are based on historical e�perience and other factors that are considered to be rele�ant. Act�al res�lts ma� differ from these estimates.

The estimates and �nderl�ing ass�mptions are re�ie�ed on an on-going basis. Re�isions to acco�nting estimates are recognised in the period in �hich the estimate is re�ised if the re�ision affects onl�that period or in the period of the re�ision and f�t�re periods if the re�ision affects the c�rrent and f�t�re periods. The ke�so�rces of estimation �ncertaint�that ha�e a significant effect on the amo�nts recognised in the financial statements are as follo�s:

11

1927 PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (continued)

----- Start of picture text -----
3 INCOME 2022 2021
� �
Artistic Programme Income
Grant income - ACENP 220,993 220,993
DCMS 106,562 -
-
Lotter� capital 47,907
Donations 1,089 437
Local A�thorit� Grants 2,500 7,900
-
Prod�ction fees,comm&BX (INTL) 31,581
-
Prod�ction fees,comm&BX (UK) 30,062
Ro�alties 8,077 54,242
Creati�e learning 1,250 950
-
Digital Commissions & Streaming (UK) 7,999
Digital Commissions & Streaming (International) 4,000 1,833
Grant income - Tr�sts and Fo�ndations - 2,500
Other income 27,817 353
450,257 328,788
4 CHARITABLE ACTIVITIES 2022 2021
� �
Costs of artistic programme
Prod�ction, To�ring, Creati�e Learning & Talent
De�elopment (incl�ding Artists fees) 372,105 263,396
372,105 263,396
O�erheads/Administrati�e costs 72,256 63,260
Total charitable acti�ities 444,361 326,656
All of the abo�e are instit�tional grants gi�en in f�rtherance of the charit�'s objects.
5 OVERHEADS/ADMINISTRATIVE COSTS 2022 2021
� �
Rent 9,168 3,433
Storage costs 3,542 3,095
Ins�rance 4,346 5,736
Wages 13,553 19,193
Pension 1,096 388
Staff training and �elfare 888 845
Telephone 8 110
Post and stationer� 1,832 1,096
Tra�el and s�bsistence 2,403 1,631
Accommodation 521 2,041
Comp�ter & IT Costs 4,296 3,961
DBS Charge 223 40
Membership and S�bscription 1,395 1,299
Training costs 140 339
S�ndr� e�penses 1,918 283
Go�ernance costs 248 407
Acco�ntanc� 7,200 8,555
Marketing cost 479 479
Depreciation 17,980 6,688
Ad�ertising and PR 975 3,585
Bank charges 45 56
72,256 63,260
----- End of picture text -----

12

1927 PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (continued)

Wages and salaries
Social sec�rit� costs
Pensions
The a�erage n�mber of emplo�ees �as:
Direct charitable acti�ities
Staff costs:
6
ANALYSIS OF TOTAL STAFFING COSTS
13,415
138
1,096
14,649
2022

1

2022
19,193
-
388
19,581
2021

1

2021

No rem�neration or e�penses �ere paid to or pro�ided for in respect of the tr�stees for the �ear ended 31 March 2022 nor for the �ear ended 31 March 2021.

As at 1 April 2021
Additions at cost
As at 31 March 2022
Depreciation
As at 1 April 2021
Charge for �ear
As at 31 March 2022
As at 31 March 2022
As at 31 March 2021
Plant and
machiner�
Fi�tures and
fittings


25,557
25,144
51,859
-
77,416
25,144
8,048
22,590
17,342
638
25,390
23,228
52,026
1,916
17,509
2,554
Total

50,701
51,859
102,560
30,638
17,980
48,618
53,942
20,063

13

1927 PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (continued)

----- Start of picture text -----
8 DEBTORS 2022 2021
� �
Trade debtors - 1,500
Other debtors 481 4,579
VAT - 8
Prepa�ments and accr�ed income 5,192 3,808
5,673 9,895
9 CASH AT BANK AND IN HAND 2022 2021
� �
Cash at bank and in hand 236,324 237,457
Cash at bank and in hand 236,324 237,457
10 CREDITORS - AMOUNTS FALLING 2022 2021
DUE WITHIN ONE YEAR � �
Trade creditors 125,794 105,977
Social sec�rit� and other ta�es - 208
Pension pa�able - 76
VAT 345 -
Other creditors 19,900 19,900
Accr�als and deferred income 33,475 30,725
179,514 156,886
----- End of picture text -----

14

1927 PRODUCTIONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 (continued)

12 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Unrestricted
Restricted
Total
Funds
Funds
funds



F�nd balances as at 31 March 2022 are
represented b�:
-
35,076
35,076
Tangible assets
81,349
81,349
-
Net c�rrent assets/liabilities
As at 31 March 2022
81,349
35,076
116,425
Unrestricted
funds
2021

-
110,529
110,529

The restricted f�nds are to s�pport capital p�rchases onl�.

Fi�ed assets
Debtors
Cash and bank
Creditors and accr�als
ACCUMULATED FUNDS CONSISTS OF:
Total funds
2022

53,942
5,673
236,324
(179,514)
116,425
Total funds
2021

20,063
9,895
237,457
(156,886)
110,529

13 ACCUMULATED FUNDS CONSISTS OF:

14 EVENTS AFTER THE REPORTING DATE

There ha�e been no significant e�ents since the balance sheet date.

15 RELATED PARTY TRANSACTIONS

There �ere no discolsable related part� transactions d�ring the �ear (2021 - none)

16 FUNDS

A minim�m of �110,529 is allocated to a designated "reser�es" f�nd. All other f�nds are designated to spend across the artistic programme.

15