Charity Registration no. 1195194
## **ANGEL SHED THEATRE COMPANY**
## **FINANCIAL STATEMENTS**
**YEAR ENDED 31 AUGUST 2023**
**ANGEL SHED THEATRE COMPANY**
## CONTENTS
TRUSTEES’ ANNUAL REPORT AND FINANCIAL STATEMENTS for the year ended 31 August 2023
||Page|
|---|---|
|Reference and Administrative Details|2|
|Overview from the Chair|3 – 4|
|Trustees’ Report|5 – 17|
|Statement of Financial Activities|18|
|Balance Sheet|19|
|Notes to Financial Statements|20-22|
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## **ANDEL SHED THEATRE COMPANY**
## REFERENCE AND ADMINISTRATIVE DETAILS
|Trustees|Andrew Duncan, Chair||
|---|---|---|
||Freddy Mardlin, Treasurer|(appointed 7 September 2023)|
||Jardelle Johnson, Secretary|(appointed 18 July 2023)|
||Paul Brocklehurst|(appointed 18 July 2023)|
||Nicky Galliers|(resigned 18 July 2023)|
||John Gaine|(appointed 18 July 2023)|
||Freya Johnson|(appointed 18 July 2023)|
||Nikhil Alexander Khosla||
||Jake Macan||
||Elizabeth Onwuka-Okoye|(appointed 18 July 2023)|
||Albert Simsensohn|(appointed 18 July 2023)|
||Caroline Rouse|(resigned 18 July 2023)|
||Anna Fox|(appointed 18 July 2023)|
||Sarah Kitteridge||
||Richard Longworth||
||Jo Stephens|(appointed 18 July 2023)|
||Rupert Taylor||
||Ashley Zhang|(appointed 18 July 2023, resigned 19|
|||February 2024)|
|Patron|The Right Hon. Jeremy Corbyn,||
||M.P.||
||Steven Kavuma||
|Registered office|City & Islington College||
||444 Camden Road||
||London||
||N7 0SP||
|Registered Charity No.|1195194||
2
## **ANGEL SHED THEATRE COMPANY**
OVERVIEW FROM THE CHAIR
At the date of this overview, the activities of Angel Shed have been transferred to this new incorporated entity. As is fully explained in the attached Trustees’ Report, the activities and financial position of Angel Shed Theatre Company (registration #1111684) are fully disclosed in the financial statements of that entity and are largely repeated in this report to enable a full understanding of the transfer. For convenience, I also repeat my comments here below.
This letter is my opportunity to pay tribute to everyone involved with Angel Shed over the past year. David Mabbott took over sole responsibility for Angel Shed as Artistic & Executive Director at the beginning of 2022/23 and his leadership and commitment have been instrumental in continuing to build Angel Shed’s reputation and success. On behalf of all the Board, I would like to thank him, as well as the rest of the team, the support staff and all the volunteers, for their hard work and dedication over the year.
More importantly, at the time of writing this letter, we have started celebrating our 20[th] Anniversary which is a monumental occasion for Angel Shed and I take this opportunity to give a huge thank you to all who have helped build and establish Angel Shed as the success it is today. Lorraine Grout was here at the beginning in 2004 and, together with Jo Merritt-Hall, was largely responsible for establishing Angel Shed. When they both left in 2020, Dawn Davis, Natalie Sloth-Richter and David Mabbott took over and continued to develop and to expand what we offer. Over that time, the membership has continued to grow; we have introduced the Music Collective and Dance Company; we are building on our outreach programme; we promote inclusivity training to other organisations, and much more besides. I know that all the Trustees would join me to express our heartfelt gratitude to them for their professionalism and tireless dedication over all these years.
Many thanks must also go to all the staff whose energy and enthusiasm ensure that each and every workshop is inspiring and that every member wants to come back week after week, year after year - as well as the numerous volunteers who provide a hugely important contribution to each workshop and without whose help we could not survive.
Last month, we marked our celebrations with a joyous evening of performances and personal reminiscences from members and volunteers, both past and present. The evening served a vital reminder of the spirit and exuberance that has been generated by Angel Shed over the past 20 years and the indelible impact it has had on our members and volunteers alike, an impact that is greater than the sum of its parts.
I would also like to extend a huge thanks to all those in the wider community (including Islington Council, City & Islington College and many others) who have contributed to our success over the last 20 years and in particular to the generous support of all our funders without whom none of this would have been possible.
On a different note, I am delighted that Steven Kavuma has agreed to become a Patron. Steven is a writer and director who is passionate about developing artists and diversity within the arts and he is very welcome at Angel Shed.
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## **ANGEL SHED THEATRE COMPANY**
OVERVIEW FROM THE CHAIR
The Board has seen a number of changes and I welcome Freddy and Jardelle who are taking over as Treasurer and Secretary respectively from Caroline and Jake who are stepping down. Richard, Alex, Nicky and Ashley have decided to retire as well. On behalf of the Board, I thank them for their invaluable contributions. I also welcome the appointment of Freya and Elizabeth as Young Trustees. Together with the active involvement of our Youth Board, the Board more closely reflects the age and diversity of our members.
Finally, I have decided to retire as Chair. After nearly eight years, it is time for somebody younger, with fresh ideas and energy to take over and I am delighted that Sam Lansdale has agreed to take over from me. It has been a delight, a privilege and an honour to represent Angel Shed and I would like to thank all my fellow trustees for their invaluable support, advice and commitment.
Andrew Duncan Chair
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**ANGEL SHED THEATRE COMPANY**
TRUSTEES’ REPORT
## **1. Registration and transfer of assets**
Angel Shed Theatre Company (“Angel Shed”) is a registered charity (registration #1195194) with its principal address at City & Islington College, Islington Campus, 444 Camden Road, London N7 0SP. Angel Shed CIO was registered as a CIO (Charitable Incorporated Organisation) on 15 July 2021 and operates under its constitution dated 15 July 2021.
Approval has been received from the Charity Commission to transfer the assets and employees of Angel Shed Theatre Company, an unincorporated charity (registration #1111684) to Angel Shed, and this transfer was effective on 1 September 2023.
With effect from 1 September 2023, all the activities of Angel Shed Theatre Company are carried out in the name of Angel Shed. The activities and financial position of Angel Shed Theatre Company (registration #1111684) are fully disclosed in the financial statements of that entity and are largely repeated in this report to enable a full understanding of the transfer.
## **2. Our mission**
Angel Shed provides fully inclusive performing arts opportunities for children and young people of all backgrounds. As a result, we enable greater inclusion for those most likely to be otherwise excluded: including those who are economically disadvantaged, those who are disabled, those with social, emotional and mental health issues, those with special education needs, LGBTQ+ people, young carers, and those from communities experiencing racism and racial inequality.
Established in 2004, Angel Shed has engaged thousands of children and young people across Islington, north London, and beyond. We are embedded in a community where over 1 in 3 children in Islington live in relative child poverty (End Child Poverty Coalition, 2023) and operate against a backdrop of continuing decline in the provision of performing arts in education.
Inclusivity is integral in every aspect of our work:
- We welcome anyone to join.
- We operate on a ‘pay-what-you-can’ basis and workshops are free to those who cannot afford them.
- We don’t hold auditions.
- We are led by the ideas of children and young people, who are active participants in the planning, creation, and performance of our work. This allows them to share and explore the stories, issues and topics that are relevant to them.
- We adapt to the needs of individual members, meaning everyone can participate in a way which works for them.
- We actively reach out to those most likely to experience exclusion, with strong connections across the education, charity, and youth sectors.
- We have a high ratio of adults to participants to ensure the best possible support for all children and young people.
Through our work, we aim to:
- increase the self-confidence and enhance the self-esteem of participants, breaking down self-imposed barriers to achievement and allowing them to reach beyond themselves;
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**ANGEL SHED THEATRE COMPANY**
TRUSTEES’ REPORT
- impart a range of performing and social skills that will sustain our members on stage and in life;
- improve social cohesion, by providing a safe environment for children and young people to recognise differences, develop empathy and value what they have to offer to one another;
- deliver training and experience to volunteers that can create pathways to employment;
- create a public platform for children and young people to express their voices and thoughts, especially those not often heard by their mainstream peers.
## **3. Our work**
We provide a range of weekly performing arts workshops for children and young people in theatre, music and movement. During 2022/23, our programme (and the relevant age groups) consisted of the following:
Children's Theatre (CT) 7 - 10 years Youth Theatre 1 (YT1) 10 - 13 years Youth Theatre 2 (YT2) 13 - 19 years Music Collective (MC) 12 - 19 years Dance Company (DC) 10 - 19 years
Our artistic programme is based on the following objectives:
- We believe that accessibility and excellence are mutually inclusive. A truly inclusive practice, process and environment expands the boundaries and strengthens the quality of artistic output.
- We create inspirational and outstanding youth-led theatre, focused on long-term collaboration with children and young people who are at the heart of the creative process from start to finish.
- We present an eclectic mix of original theatre, music, and dance, focusing on crossover between these disciplines and performances including live music, costumes, and sound and lighting design.
- We celebrate difference, engage the community and inspire social change through original work, new writing and reworkings of existing material.
_“It has really helped with my confidence. It’s a huge confidence boost. I started doing Angel Shed, meeting new people, and I could be myself. I started coming out of my shell. I was able to be confident not just here, but everywhere.”_
Youth Theatre 2 member, December 2022
## **4. Our members**
Over 100 members attended Angel Shed during 2022/23 with 80 attending on average each term.
Long-term, continued engagement continues to be a central element of our work. 68% of members this year were returning. The average membership of our Youth Theatre groups is over 4 years, while 50% of Youth Theatre 2 members have attended for 6-10 years.
Of our overall membership, 63% are global majority and 62% are female. 26% of members have special educational needs or are disabled, which rises to 35% for those aged 10 and above.
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TRUSTEES’ REPORT
- _“For most people who don’t like being at school or at home, Angel Shed is an escape, somewhere where you can be yourself. It’s peaceful, it’s a stress-free zone for us teenagers.”_
Youth Theatre 2 member, April 2023
## **5. Our performances**
We put on regular performances created by children and young people, in professional theatre spaces at our base in City and Islington College. During 2022/23, our members presented the following performances, which can be watched on our YouTube channel (@AngelShed):
- ‘The Suits’, Youth Theatre 2 (December 2022): YT2 members devised this work to explore themes of discrimination, power, identity, and corruption.
_At a meeting of the rich and powerful, a devastating explosion throws the event into disarray. Who are the sinister ‘Suits’ plotting behind the scenes? And do we ever really know the truth?_
- ‘The Dig’, Youth Theatre 1 (March 2023): YT1 members explored different periods of history, as well as how characters develop when stuck together for a long time.
_Follow the world’s top archaeologists as they search for four artefacts which were lost to the sands many decades ago. Find out if they can work together and survive months in the barren remoteness of the desert…_
- ‘From the Water’, Music Collective and Dance Company (June 2023): Featuring songs, music and movement on the theme of ‘water’, the Music Collective and Dance Company collaborated on choosing the theme for this project and creating their own original work in relation to it.
- ‘The Last Piece of Earth’, Children’s Theatre (July 2023): CT members explored themes of the climate, our planet and space.
- _The Earth is falling apart in the climate emergency. A group of astronauts venture to outer space to find a solution to save the planet, each of them holding onto their last piece of Earth. Will_
- _they be able to save our planet?_
- _“Inspirational. I loved hearing about the process that the group went through to create the plot, characters and performance. One of my students is in the cast and I can see how taking part increases his confidence. It’s brilliantly inclusive too. A joy to see. Thank you Angel Shed.”_
_“Amazing work building the confidence of young people. They showed enjoyment and enthusiasm in what they were doing and it made us laugh!”_
- _"I enjoyed today's performance. Particularly the inclusiveness and how the team ensured that everyone had a part and were fully involved."_
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TRUSTEES’ REPORT
_“Loved how inclusive it was and how the children come up with their own script – it’s great for their imagination. Loved the production – lighting and live music – gives them a taste of a real_
_theatre.”_
Audience feedback, December 2022-July 2023
**6. Outreach: Angel Shed in the community**
Over 450 children and young people have taken part in our Outreach work in 2022/23. We engage in a range of projects in the community, delivering inclusive activities to those who are underrepresented at Angel Shed, and those who are less likely to be able to access our weekly sessions. We plan to extend our outreach projects to improve our service to the wider community and to increase our profile, which in turn encourages increased membership.
This year, we delivered workshops and projects, with thirteen classes across seven schools: Ambler, Hungerford, Pakeman, Pooles Park, Richard Cloudesley Primary, Richard Cloudesley Secondary and Winton. We continued to be part of Islington Council’s 11 by 11 scheme – a commitment to offer 11 free outstanding cultural experiences to all children and young people in Islington by Year 11.
_“It was an absolutely amazing experience working with Angel Shed on a project based on exploring the environment. Our class of children with severe and complex needs went on a voyage of discovery across the galaxy to visit new planets. The songs and sensory experiences planned for them were fantastic. So much care and thought had gone into the preparation and resourcing for every one of the 5 sessions and it meant that every child could participate, and they did, with enthusiasm. The songs were simple but catchy and age appropriate and helped to_
_transport us on our journey. The team used signing and helped the children to find their own voice during every part of the session, ensuring that they were totally engaged. It was magical!_
_Thank you!”_
Heather Johnston, Middle Primary Class Teacher, Richard Cloudesley Primary, June 2023
We have also delivered one-off workshops at Islington Centre for Refugees and Migrants, Lift Youth Hub (for children with a social worker) and at Platform Youth Hub for Mary’s/Prospex Girls Super Group.
We delivered pre-performance workshops before each performance of ‘The Suits’. Groups attending included Prospex, City and Islington College, Hackney Shed, Sapphire Community Group, Marys, XLP, Immediate Theatre, Chickenshed and Centre 404. We also ran community workshops at our public ‘Creativity Day’ in June.
We ended the year by delivering a week-long ‘Make a Theatre Performance’ project as part of Summerversity in August 2023.
We also took members on theatre trips, including performances of ‘How Not To Drown’ at Theatre Royal Stratford East, ‘&Juliet’ at the Shaftesbury Theatre and ‘Jungle Book reimagined’ at Sadler’s Wells.
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**ANGEL SHED THEATRE COMPANY**
TRUSTEES’ REPORT
## **7. Our volunteers**
We run an extensive volunteer programme providing training, inclusive facilitation practice, and experience working with children and young people. In 2022/23, 53 performing arts volunteers supported our members in workshops and performances, averaging 29 per term (an increase of over 20%). Of these, 57% were 25 and under, including students at City and Islington College and other local special and mainstream schools.
Our volunteers are at the core of our work and Angel Shed could not do what we do without them. Our highly experienced creative staff, inclusive approach and large trained volunteer team allow us to deliver high-quality artistic work while providing the most appropriate support for each participant. A high ratio of adults to participants ensures the best possible support for all children and young people.
Our volunteers share a common interest in the performing arts, children and young people, and inclusivity. The diversity of volunteers’ backgrounds and experiences make them great role models for our members, who can see themselves reflected in the team; almost one third of volunteers have special educational needs or are disabled, over three quarters are female, and almost half are global majority. Some volunteers are current or former attendees of Angel Shed themselves and have progressed into the volunteer programme.
Additional volunteers support our work throughout the year, including in relation to office support, photography, graphic design, costume, technical support, front of house and musicians.
- _“My experience at Angel Shed has benefitted me in a way that I didn’t think my confidence could grow in six months. I think it would help me to gain teaching employment in the future.”_
_“Volunteering at Angel Shed is benefitting my career and building on my personal skills and interests. Before this, I had never experienced youth theatre and so it’s been really interesting and affirming for me to see first-hand how important this is to the children who attend.”_
_“From the first session, I felt very supported by staff. From being so attentive and receptive with feedback, to making every session as fun as the last, I have always felt room to grow because of Angel Shed’s support.”_
Volunteers, December 2022 - July 2023
## **8. Financial support**
Islington has over 1 in 3 children living in relative child poverty (End Child Poverty Coalition, 2023). Fundamental to our mission is to prioritise those members who are experiencing any form of disadvantage. We operate a ‘pay-what-you-can’ system to ensure no-one is excluded due to financial constraints. 73% of members accessed our financial support over the year (up from 60% last year) and our income from members decreased by a third between the Spring and Summer terms. We expect these issues to be exacerbated as the cost of living crisis continues to take its toll.
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TRUSTEES’ REPORT
_“He’s learnt so much about independence, he has improved his confidence, speech, and life skills. Allowing us to pay what we can afford allows us to take part. As a single parent who_
_doesn’t work it allows my son to do something he truly loves.”_
Parent of member in Youth Theatre 2 who has a learning disability, July 2023
## **9. Impact and evaluation**
Our comprehensive impact measurement system takes a multi-viewpoint approach:
- Weekly observation of members by staff and volunteer team.
- Termly self-evaluation questionnaires by members.
- Annual parent/carer questionnaires.
- Testimonials and feedback from members, parents/carers, and referrers.
- Case studies by members of staff.
The differences Angel Shed makes in children and young people's lives are varied. The primary outcomes we measure our impact against are: belonging to a community; strengthened relationships; increased confidence; improved skills.
Feedback from our members showed the following:
|I feel listened to|84%|
|---|---|
|I made a new friend this term|88%|
|I’m given support when needed|86%|
|I’ve got to know people different from me|89%|
|I feel included|88%|
|I have improved my skills or gained new skills|98%|
|I can be myself|81%|
|I’ve got better at…||
|…sharing ideas|85%|
|…listening to others|82%|
|…collaborating with other children|88%|
|…collaborating with adults|82%|
|From attending Angel Shed, parents/carers noticed|a positive impact on their child’s:|
|Mental health|95%|
|Behaviour and resilience|96%|
|Confidence and self-esteem|98%|
|Relationships (e.g. family, friends)|95%|
|Sense of belonging/ community|98%|
|Transferable skills (e.g. communication)|97%|
## **10. Safeguarding, training and policy**
We take safeguarding extremely seriously and it is an integral part of our work. We always have a minimum of two Safeguarding Leads in the organisation and mandatory safeguarding training is delivered each term for all staff and volunteers, supported by the Safeguarding Trustee. Safeguarding Leads complete Advanced Child Protection training. Our Safeguarding Policy is reviewed at least annually.
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**ANGEL SHED THEATRE COMPANY**
TRUSTEES’ REPORT
This year, we arranged Unconscious Bias and Youth Mental Health training for staff and volunteers. Staff complete other training as required, including First Aid and Safe Recruitment.
We created two video and text resource packs this year, ‘Creating Original Inclusive Theatre with Young People’ and ‘Inclusive Games’. These have been downloaded and viewed thousands of times so far and feedback has been very positive. They were designed for both internal use in our staff and volunteer training, but also for use by schools, youth groups, and community projects.
We hold policies on areas including the following: Safeguarding; Positive Behaviour Support; AntiBullying; Equality, Diversity and Inclusion; Social Media; Complaints; Uncollected and Missing Child; Health and Safety; Data Protection, GDPR and Confidentiality; Recruitment; and Conflicts of Interest. We regularly review all policies and ensure they are put into practice.
In November 2022, Angel Shed achieved the Bronze Award Quality Mark from London Youth - their flagship Quality Assurance programme providing youth organisations with a badge of excellence. The assessor commented that we demonstrated: “clear evidence of an exciting and valuable organisation doing meaningful work with young people, through theatrical arts and music.” We are actively working towards the Silver Award.
## **11. Youth Board**
Angel Shed’s Youth Board was formed almost three years ago to ensure members are involved in decision making across all parts of the organisation. They discuss topics that are important to them and decisions taken by Youth Board regularly lead to changes at Angel Shed.
The Youth Board consists of 12 members representing our four older groups (Youth Theatre 1, Youth Theatre 2, Music Collective, Dance Company) and range in age from 11 to 19. The group meet at least twice each term and they met seven times this year in total.
Key discussions and actions from meetings this year included:
- taking the lead on planning our first ever pre-show workshops for ‘The Suits’. More than half a dozen youth groups attended the workshops designed and led by Youth Board members.
- reviewing and feeding back on our new 3-year strategy and designing our new membership flyer.
- drafting principles for accepting corporate support and donations, now being reviewed by the Board of Trustees to create an ethical fundraising policy.
- writing an equal opportunities statement and undertaking carbon literacy training, including coming up with ideas for how to become more environmentally friendly at Angel Shed.
- planning and helping to deliver a ‘Creativity Day’ (an open day created by Youth Board).
- holding a Q&A with Angel Shed’s Chair of Trustees and discussing Youth Board’s priorities for the year ahead; including learning more about the theatre industry, getting involved more in the Angel Shed hiring process, and putting on events for Angel Shed’s 20th anniversary, International Women’s Day, and Black History Month.
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**ANGEL SHED THEATRE COMPANY**
## TRUSTEES’ REPORT
## **12. Management**
Angel Shed transitioned to a new team structure over the Summer term and into Autumn 2022. David Mabbott took on the role of Artistic & Executive Director. He provides regular reports to, and is answerable to, the Board of Trustees, who in turn oversee the workings and management of the charity. Maya Shimmin joined the team as Company & Volunteer Manager and David Ward as Fundraiser. Maryam Shaharuddin, Philly Rule and Yanna Avlianos stepped up into Lead Facilitator roles, supported by a new team of Assistant Facilitators. Our volunteer team continues to grow into 2023/24.
We created three new part-time roles in June 2023. Maya Shimmin has become Volunteer & Training Manager, while Lauren Phillips and Cora Sehgal Cuthbert join the team as Membership Co-ordinator and Outreach Co-ordinator respectively. These roles will increase our core staff capacity to both support ongoing delivery and extend our reach to new participants and partners. It will enable us to provide more support to participants, their families and our volunteers, to ensure that as many young people as possible are able to join Angel Shed and maximise the impact of their time with us. It will also enable us to reach out more into the community, deliver more taster activities and projects and deliver a new training offer to local freelancers, youth, and arts organisations.
## **13. City & Islington College**
Since its inception, Angel Shed has had the benefit of facilities at City & Islington College (“CANDI”), including professional performing spaces, rehearsal facilities and a small office. These resources are provided free of charge, the annual benefit of which is estimated at around £45,000. The free use of the space is vital to Angel Shed and means that the bulk of our funding is directed towards the children and not costly overheads.
Our Collaboration Agreement with CANDI secures our continued use of the space and confirms the ongoing work being carried out by both parties. The Board of Trustees is very grateful to CANDI for their continued generosity.
Our strong relationship with CANDI includes Angel Shed providing opportunities for students to take part in our volunteer programme, and collaborations such as fashion students designing and making costumes for Angel Shed performances. We continue to work on further collaboration through joint creative projects and further student work placement opportunities.
## **14. Fundraising**
Most of Angel Shed’s income comes from trusts, foundations and grant-makers. In an increasingly challenging funding climate, Angel Shed is ever grateful for the continuing support and generosity of our funders, including (among others):
Arts Council England Morris Charitable Trust Backstage Trust The Mrs Smith & Mount Trust Charles S French Charitable Trust National Lottery Community Fund Cloudesley Pat Newman Memorial Trust Cripplegate Foundation Postcode Society Trust Cuckoo Hill Trust Shaftesbury Young People Trust Garfield Weston Foundation The Leathersellers’ Foundation
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TRUSTEES’ REPORT
The Harold Hyam Wingate Foundation Three Monkies Trust Islington Council UK Youth/Pears Foundation Jack Petchey Foundation
A lesser amount of our income comes from subscriptions paid on a termly basis by beneficiaries, tickets, merchandise and donations. Regrettably, given that we work in a community that suffers from a high level of deprivation that is exacerbated by the current cost of living crisis, the increased membership results in a commensurate increase in demand for financial support rather than increased income from subscriptions.
We are confident of our ongoing financial stability and in our ability to generate income, despite the increase in demand for our services. Recent fundraising successes have included a three-year pledge from UK Youth, and we are on track to fundraise an additional £20,000 as part of our 20[th] anniversary celebrations. We have further fundraising events planned for the year ahead, including marathons and gala performances, alongside robust fundraising pipelines based on research, expertise and previous grant makers.
We have begun to roll out an Inclusive Training offer, building on 20 years’ experience delivering high-quality inclusive training and workshops. We expect this to create a sustainable income stream, given high demand in both the charity and corporate sectors.
We continue to explore and expand alternate funding streams, including corporate engagement and community fundraising.
## **15. Financial review**
The financial statements of Angel Shed CIO are attached. There has been no activity to date in Angel Shed CIO, as reflected in the financial statements for the year to 31 August 2023.
The activities and financial position of Angel Shed Theatre Company (registration #1111684) over this year are fully disclosed in financial statements of that entity and the following is a summary of financial position of the unincorporated charity. During the year to 31 August 2023, the charity received income of £136,202 (2022: £119,752). After expenditure amounting to £141,800 (2022: £121,170), the charity recorded a deficit of £5,598 (2022: deficit of £1,418).
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**ANGEL SHED THEATRE COMPANY**
## TRUSTEES’ REPORT
## A 5-year summary of the financial activities of Angel Shed (#1111684) is set out below:
|**Total income**
**Total resources**
**expended**
**Net**
**income/(expenditure)**
Fund balance brought
forward
**Fund balance carried**
**forward**
Restricted funds
Unrestricted Funds|2023
2022
£
£
**136,202**
**119,752**
**-141,800**
**-121,170**
**-5,598**
**-1,418**
76,631
78,049
**71,033**
**76,631**
20,087
50,946
23,189
53,442|2021
£
**121,745**
**-121,466**
**279**
77,770
**78,049**
16,549
61,500|2020
£
**116,563**
**-89,396**
**27,167**
50,603
**77,770**
30,281
47,489|2019
£
**100,746**
**-102,619**
**-1,873**
52,476
**50,603**
18,000
32,603|2018
£|
|---|---|---|---|---|---|
||||||**146,284**|
||||||**-145,229**|
||||||**1,055**
51,421|
||||||**52,746**
10,235
42,241|
## **16. Reserves policy**
The Trustees consider it appropriate to maintain unrestricted reserves of no less than the gross expenditure budget for one term (approximately 4 months’ worth of operating costs). Total funds were transferred to Angel Shed CIO as at 1 September 2023 and amounted to £71,033 (2022: £76,631) of which unrestricted reserves were £50,946 (2022: £53,442) and which exceeds the target level.
The Trustees are aware of the need to maintain and build reserves but consider that this level of reserves is sufficient to keep the charity delivering the core programme in the event of a significant drop in funding.
The Trustees aim to increase the level of reserves to 50% of the full year budgeted costs to provide greater long-term financial stability.
## **17. Risk assessment**
The Trustees have identified and reviewed the risks to which the charity is exposed and are satisfied that the internal control systems in place (including regular reviews of the financial budget and future plans) are sufficient to mitigate these risks.
The Trustees have identified the following principal risks that the charity faces:
- Major loss of income from donors: the Trustees regularly monitor the level of funding and continue to develop a sustainable fundraising plan.
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- Need to relocate: the Collaboration Agreement signed with CANDI secures the charity’s continued use of the space needed for the foreseeable future.
- Safeguarding: safeguarding is considered a priority and our policies and procedures reflect the importance we attach to it. Safeguarding is a standing item on the Board’s agenda and a safeguarding report is presented to the Board annually, compiled by the Safeguarding Trustee and Safeguarding Leads.
- Reputational damage - all staff and stakeholders are rigorously checked, and activities assessed according to the high standards of the charity’s reputation. Our reporting systems ensure that any issues can be quickly identified and appropriately dealt with.
## **18. Looking ahead**
Our members are at particularly high risk from the ongoing cost-of-living crisis as a high proportion come from low-income households. Islington has one of the highest rates of child poverty in England which means a significant number of local children are growing up in households struggling to make ends meet. As our membership grows, we have noticed that a higher proportion of new members require financial support, alongside an increased core membership of young people with SEN/D. We never turn a child away on financial grounds and while our costs increase, we do not feel able to increase our subscriptions. This is reflected in our budget and fundraising plans going forward.
We have launched an ambitious 3-year strategy for 2022-25. Areas of focus include increasing our membership, establishing new specialist groups, delivering longer-term outreach projects, increasing lived experience across the organisation, building our core staff team and diversifying our income streams. The next 12 months will see a number of new initiatives – including a 20th birthday fundraising campaign, and the launch of an external training offer – to diversify our funding base, whilst continuing to seek support from philanthropic trusts, foundations and grant makers.
We look forward to another successful year at Angel Shed in 2023/24, bolstered by the creation of three new part-time roles – Volunteer & Training Manager, Membership Co-ordinator, and Outreach Co-ordinator. These roles will increase our core staff capacity to both support ongoing delivery and extend our reach to new participants and partners. It will enable us to provide more support to participants, their families, and our volunteers, to ensure that as many young people as possible are able to join Angel Shed and maximise the impact of their time with us. It will also enable us to reach out more into the community, deliver more taster activities and projects, and deliver our new training offer to local freelancers, youth and arts organisations.
## **19. Legal structure and governance**
Angel Shed is an incorporated association, registered as a CIO (Charitable Incorporated Organisation) on 15 July 2021 (registration #1195194) and operates under its constitution dated 15 July 2021. The Objects of the charity are the advancement of education in the field of the performing arts including (but not limited to) drama, music and dance, for the benefit in particular but not exclusively of children and young persons who require help with mobility, communication, or other physical, mental or behavioural needs and those that come from disadvantaged backgrounds, with a view to increasing their confidence and self-esteem and helping to build a more inclusive society.
15
**ANGEL SHED THEATRE COMPANY**
TRUSTEES’ REPORT
The Trustees have adopted the provisions of the Statement of Recommended Practice: Accounting and Reporting for Charities.
The Trustees confirm that they have read and understood the Charity Commission’s guidance on Public Benefit. Having regard to that guidance, the Trustees consider that the purposes and activities of Angel Shed, as set out in this report, satisfy the requirements of the public benefit test as set out in section 4 of the Charities Act 2011. The Trustees will continue to have due regard to the Charity Commission’s public benefit guidance in determining the activities undertaken by Angel Shed.
Angel Shed is managed by a Board of Trustees who meet at least six times per year. The Trustees are also the members of Angel Shed. Under the terms of the constitution, Trustees are elected for a period of three years, after which they are eligible to be re-elected by the Board. Trustees are eligible to stand for a maximum of three consecutive terms. New Trustees are provided with a full induction to the legal obligations, the charity’s finances and its policies. All Trustees are expected to complete safeguarding and child protection training and further training is provided when beneficial and desired.
The Trustees bring a range of complementary skills to the Board, including expertise in safeguarding and child protection to ensure policies and procedures are fully up-to-date, specific professional skills (finance, legal, fundraising) to ensure that Angel Shed complies with its legal and charitable requirements, trustees with a background in creative industries, as well as representation of both the children (through their parents or carers) and the volunteers.
We value working with people of different experiences, skills and backgrounds as this is how we continue to learn, grow and thrive and our recruitment process reflects our commitment to remove any potential barrier to applicants. In particular this year, we are thrilled to have appointed two trustees in the new roles of Young Trustees in recognition of our need to ensure the Board more effectively represents the lived experience of our membership.
The Trustees who held office at the date of this report are
|Paul Brocklehurst|Richard Longworth|
|---|---|
|Andrew Duncan (Chair)|Jake Macan|
|Anna Fox|Freddy Mardlin (Treasurer)|
|John Gaine|Elizabeth Onwuka-Okoye|
|Freya Johnson|Albert Simsensohn|
|Jardelle Johnson (Secretary)|Jo Stevens|
|Nikhil Alexander Khosla|Rupert Taylor|
|Sarah Kitteridge (Safeguarding)||
During the year, Caroline Rouse resigned as Treasurer, having moved away from London. Nicky Galliers and Ashley Zhang have resigned citing work and family commitments. Furthermore, as at the date of this report, Jake Macan, Nikhil Alexander Khosla and Richard Longworth have also resigned. The Board would like to thank them all for their valuable contributions over the past years.
16
**ANGEL SHED THEATRE COMPANY**
TRUSTEES’ REPORT
We welcome the appointment of Jardelle Johnson as Secretary, Freddy Mardlin as Treasurer as well as Freya Johnson and Elizabeth Onwuka-Okoye, both as Young Trustees.
Also as at the date of this report, Andrew Duncan retired as a trustee and as Chair and Sam Lansdale has been appointed as his successor.
Approved by the Trustees on 19 March 2024 and signed on their behalf by:
Andrew Duncan Chair
17
## **ANGEL SHED THEATRE COMPANY**
STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 AUGUST 2023
|Note
**Income from:**
Charitable activities
Other income
**Total income**
**Expenditure on:**
Charitable activities
Support costs
**Total resources expended**
**Net income/(expenditure)**
Fund balance brought forward
**Fund balance carried forward**|Unrestricted
Funds
£
-
-
**-**
-
-
**-**
**-**
-
**-**|Restricted
Funds
£
-
-
**-**
-
-
**-**
**-**
-
**-**|Total
2023
£
-
-|
|---|---|---|---|
||||**-**|
||||-
-|
||||**-**|
|||||
||||**-**|
||||-|
||||**-**|
The Statement of Financial Activities includes all gains and losses in the year and therefore a statement of total recognised gains and losses has not been prepared. All income and expenditure relate to continuing activities.
The attached notes form part of these financial statements.
18
## **ANGEL SHED THEATRE COMPANY**
BALANCE SHEET AT 31 AUGUST 2023
|Note
**Fixed assets**
Tangible assets
**Current assets**
Cash at bank
Other debtors
**Creditors: amounts falling due within one**
**year**
Net current assets
**Net assets**
**Funds of the charity**
Restricted funds
Unrestricted funds
**Total funds**|£
-
-|2023
£
-
-|
|---|---|---|
||-||
||||
|||-|
|||-
-|
|||-|
Approved by the Board of Trustees and authorised for issue on 19 March 2024
and signed on behalf of the Board by:
Andrew Duncan (Chair)
______________________ Freddy Mardlin (Treasurer)
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## **ANGEL SHED THEATRE COMPANY**
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
1. The trustees of Angel Shed Theatre Company (registration #1195194) were in the process of transferring the activities of Angel Shed Theatre Company (registration #1111684), an unincorporated charity, to Angel Shed Theatre Company (#1195194) in the year to 31 August 2023. The transfer of activities took place on 1 September 2023 and, as such, there was no activity at Angel Shed Theatre Company (#1195194) and therefore nothing to report in these accounts during the relevant period.
A 5-year summary of the financial activities of Angel Shed (#1111684) is set out below:
|**Total income**
**Total resources**
**expended**
**Net**
**income/(expenditure)**
Fund balance brought
forward
**Fund balance carried**
**forward**
Restricted funds
Unrestricted Funds|2023
2022
£
£
**136,202**
**119,752**
**-141,800**
**-121,170**
**-5,598**
**-1,418**
76,631
78,049
**71,033**
**76,631**
20,087
50,946
23,189
53,442|2021
£
**121,745**
**-121,466**
**279**
77,770
**78,049**
16,549
61,500|2020
£
**116,563**
**-89,396**
**27,167**
50,603
**77,770**
30,281
47,489|2019
£
**100,746**
**-102,619**
**-1,873**
52,476
**50,603**
18,000
32,603|2018
£|
|---|---|---|---|---|---|
||||||**146,284**|
||||||**-145,229**|
||||||**1,055**
51,421|
||||||**52,746**
10,235
42,241|
## **2. Principal accounting policies**
## 2.1. Basis of preparation
The financial Statements have been prepared in accordance with the Statement of Recommended Practice: 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) and the Charities Act 2011.
The charity constitutes a public benefit entity as defined by FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.
20
## **ANGEL SHED THEATRE COMPANY**
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
## 2.2. Going concern
The ability of the charity to undertake its activities is largely dependent upon the receipt of grants, subscriptions, donations, and ticket sales from its performances. The Trustees consider that there are no material uncertainties about the charity’s ability to continue as a going concern.
## 2.3. Accounting convention
The financial statements are prepared under the historical cost convention.
## 2.4. Cashflow statement
The charity is exempted from preparing a cash flow statement due to the exemption available to charities with income less than £500,000.
## 2.5. Income
All income is recognised in the statement of financial activities once the charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
There has been no offsetting of assets and liabilities, or income and expenses, unless required or permitted under FRS 102.
## 2.6. Expenditure and liabilities
All expenditure is accounted for on an accruals basis and is inclusive of irrecoverable VAT. Liabilities are recognised as soon as there is a legal or constructive obligation committing the charity to the expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
## 2.7. Funds
Restricted funds received are accounted for separately and are used for the purpose specified by the donor. Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the charitable objectives of the charity.
## 2.8. Fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Musical equipment - 33% on cost Office equipment - 12.5% on cost
## **3. Taxation**
The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.
21
## **ANGEL SHED THEATRE COMPANY**
NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 AUGUST 2023
## **4. Related party transactions**
There are no related party transactions to disclose for the year (2022: none).
There are no donations from related parties which are outside the normal course of business and no restricted donations from related parties. There is no balance due to/from related parties at the end of the year.
22