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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:
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CREA�E �ildl� inno�a�i�e, accessible, and rele�an� �hea�rical e�periences combining anima�ion, s�or��elling, m�sic and li�e performance.
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OFFER ar�is�s, par�icipan�s, comm�ni�� gro�ps and a�diences� �niq�e oppor��ni�ies for crea�i�e engagemen�, e�plora�ion, learning, de�elopmen� and disco�er�.
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BE one of �he na�ion�s leading ar�is�-led performance companies on �he �orld s�age.
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:
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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
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1927 PROD�C�ION� LIMI�ED
�R���EE�' REPOR� FOR �HE �EAR ENDED 31 MARCH 2022
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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
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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.
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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
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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:
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S�ppor�ing 5 Ken� based Ar�is�s B�rsar� Ar�is�s - Anna Brai�h�ai�e, Jose Camp�s, Helga Fannon, Ma�� Merri�men & Sara Trillo.
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Commissioning Anima�or La�rie Hill �o �ork �i�h �s across a series of digi�al commissions.
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Par�nering �i�h Ar�sadmin and LIFT �o de�elop a prac�ical g�ide for independen� Ar�is�s and companies �orking in EU co�n�ries no� �ha� �he UK has e�i�ed �he EU.
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1927 PROD�C�ION� LIMI�ED
�R���EE�' REPOR� FOR �HE �EAR ENDED 31 MARCH 2022
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Collabora�ing �i�h peer ar�is� led �hea�re, dance & circ�s companies �o la�nch Ano�her Ro��e � an in�erna�ional fello�ship brokering oppor��ni�ies for a ne� genera�ion of performance makers par�ic�larl� �hose his�oricall� e�cl�ded from oppor��ni�ies �o in�erna�ionalise �heir crea�i�e prac�ice.
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Collabora�ed �i�h regional sec�or peers �o s�ppor� oppor��ni�ies for emerging prod�cers in �he Thames Es��ar� regions of Ken� & Esse� as par� of �he Senior Prod�cers Gro�p leading �he Es��ar� Prod�cers Ne��ork.
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Endea�o�red �o be a �al�ed leader in Marga�e, Thane� and Ken� � being ac�i�el� in�ol�ed in �he Ken� C�l��ral Transforma�ion For�m, Ken� Thea�re & To�ring Foc�s Gro�p, Marga�e Thea�res S�eering Gro�p and Thane� Yo��h Ne��ork.
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
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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.
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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:
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Make and premiere ne� �hea�re prod�c�ion of Plea�e Righ� Back .
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Premiere a ne� prod�c�ion of The Magic Fl��e in Nor�h America �i�h Opera de Mon�real.
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E�plore ne� collabora�ion �i�h S�ree��ise Opera
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De�elop par�nerships and ac�i�i�ies e�ploring social j�s�ice for �hose impac�ed b� a famil� member being in or ha�ing been in prison, �o orbi� aro�nd �he crea�ion and presen�a�ion of Plea�e Righ� Back from 2023.
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Deli�er 1927 Yo�ng Anima�ion Leaders programme �i�h Thane� Primar� Schools.
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Co-lead a men�oring and skills de�elopmen� programme for gro�ps of �o�ng people in Ken� as par� of Reconnec� Presen�s.
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Share digi�al crea�i�e learning �ools �hro�gh online pla�forms �o s�ppor� learning and insigh�.
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Pro�ide B�rsaries and Open Ho�se Ar�is�s Ad�isor� Sessions for Ken� based Crea�i�es.
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Crea�e, dis�rib��e and share digi�al crea�i�e con�en�, incl�ding li�e �o digi�al cap��res, a�dio con�en� and shor� films �orking �o e��end ro��es for a�diences �o engage �i�h o�r �ork.
�
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
-
A��he cha�i�������ee�, �o�a�e �e�pon�ible fo��he p�epa�a�ion of �he acco�n��in acco�dance �i�h �he Cha�i�ie� Ac� 2011 (�he Ac�).
-
I �epo��in �e�pec�of m�e�amina�ion of �he Cha�i����acco�n��ca��ied o���nde��ec�ion 145 of �he 2011 Ac�and in ca���ing o��m�e�amina�ion I ha�e follo�ed all �he applicable Di�ec�ion�gi�en b��he Cha�i�� Commi��ion �nde� �ec�ion 145(5)(b) of �he Ac�.
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�:
-
The acco�n�ing �eco�d� �e�e no� kep� in acco�dance �i�h �ec�ion 130 of �he Ac�; o�
-
The acco�n�� did no� acco�d �i�h �he acco�n�ing �eco�d�; o�
-
The acco�n�� did no� compl� �i�h �he applicable �eq�i�emen�� conce�ning �he fo�m and con�en� of acco�n�� �e� o�� in �he cha�i�ie� (Acco�n�� and Repo���) Reg�la�ion� 2008 o�he� �han an� �eq�i�emen� �ha� �he acco�n�� gi�e a ���e and fai� �ie� �hich i� no� a ma��e� con�ide�ed a� pa�� of an independen�
-
- e�amina�ion.
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:
-
(a) ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006; and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirments of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements so far as applicable to the company.
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:
- Plant and machiner� - 15% red�cing balance basis Fi�t�res & fittings - 15% red�cing balance basis
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
- The compan�is a registered charit�and, therefore, is not liable for income ta�or corporation ta� on income deri�ed from its charitable acti�ities, as it falls �ithin the �ario�s e�emptions a�ailable to registered charities if applied for charitable p�rposes.
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.
- 7 FIXED ASSETS
| 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