**REGISTERED COMPANY NUMBER: 00469253 (England and Wales) REGISTERED CHARITY NUMBER: 207516**
## **REPORT OF THE TRUSTEES AND**
**FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **FOR**
## **THE QUESTORS LIMITED**
Johnsons, Chartered Accountants Statutory Auditor Ground Floor 1 - 2 Craven Road Ealing London W5 2UA
**THE QUESTORS LIMITED**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
|||**Page**||
|---|---|---|---|
|**Report of the Trustees**|1|to|9|
|**Report of the Independent Auditors**|10|to|11|
|**Statement of Financial Activities**||12||
|**Balance Sheet**||13||
|**Cash Flow Statement**||14||
|**Notes to the Cash Flow Statement**||15||
|**Notes to the Financial Statements**|16|to|24|
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 August 2020. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES Objectives and aims**
The objectives of the Charity are:
To encourage the study and practice of Dramatic Art amongst the inhabitants of London and elsewhere and to promote and conduct such theatrical and musical performances, lectures, concerts and other educational enterprises as may tend to the attainment of this object.
These fall into three main areas of activity - our own season of plays, the hiring of the theatres to other amateur and professional visiting companies and our range of educational activities.
The Questors' own season typically comprises 16 to 18 productions plus additional one-off performances, staged readings focused on new writing, and late evening shows. One of the challenges of being a public theatre is to balance the need to attract wider audiences with the continued aim of presenting a balanced programme of plays and productions which covers the broad spectrum of all that is best in theatre in terms of style, period, culture and country of origin, but with a particular emphasis on "The Classic, The Rare and The New".
The Questors operates two theatre spaces: the Judi Dench Playhouse and the Stanislavsky Studio. These two theatres are available for hire to other amateur and professional companies, many of whom are long-standing visitors.
Educational activities undertaken by The Questors focus on: training for young people aged 5 to 18; outreach language support for refugees aged 16 to 18; adult acting training for those aged 18+; mentoring in all aspects of theatre performance and production for members aged 18+.
Page 1
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **OBJECTIVES AND ACTIVITIES**
## **Significant activities**
In this unprecedented year activities in all areas were seriously affected by the Covid-19 pandemic and successive lockdowns. This impact continues into the 2020/21 financial year but it is hoped that the following year will show a welcome recovery to a more typical level of activity.
Usually educational activities throughout the organisation incorporate the Student Group, Young Studio, the Questors Youth Theatre, Acting for All, Acting for All Encore, Platform, Literature Classes and Outreach. In 2019/20 these activities ceased or were adapted starting in late March 2020 when the lockdown first commenced.
The Student Group is a two-stage course for those aged 18+ which aims to provide a thorough grounding in acting. A high degree of commitment is required from students. The Year One Foundation Course teaches the principles of acting, voice and movement and in the Year Two Advanced Performance Course the students mount two productions, one each in the Studio and the Playhouse, which are part of the overall Questors season; the course is accepted as valid for Student Equity membership. In addition, many graduates of this course become acting members of The Questors or gain places in theatre schools and on university courses.
The Young Studio is a one-year course intended for young people aged 17-20 with a passion for learning acting but not yet able, or just below the minimum age, to take on the commitment of the Foundation Course. This one-year course is carefully structured to develop the key skills of acting with the emphasis on practical work.
The Questors Youth Theatre (QYT) provides classes for children from age rising 6 to 18. We offer a drama-based programme with an ethos of exploring an individual's creativity and enhancing their powers of self-expression. Previously at the end of the year in July all the groups stage a showcase in the Studio theatre; since 2017 we ensure that older students with GCSE and A'Level exam commitments, perform earlier in the year. In addition, QYT members can audition for The Questors' annual youth production and for children's and youth roles in other Questors' productions, such as, but not limited to, our Christmas production. Summer Scene, our highly regarded summer school for young people, is now in its eleventh year. In addition to musical theatre, for Year groups 5+, there were Play in a Week workshops for Year Groups 1 to 4 and Year Groups 5+.
Our Acting for All (AfA) course is intended for adults looking for a friendly and relaxed beginners' class in acting. The weekly sessions on a Friday evening consist of enjoyable drama games, improvisations and exercises to stimulate imagination and creativity. During the third term, scene work is undertaken on chosen texts.
Due to the popularity of AfA, a progression course, Acting for All Encore, was created not only for students who have successfully completed AfA but also for those who already have some experience of acting. The weekly sessions are designed to develop skills in improvisation, as well as introducing different approaches to performing a range of theatre texts through a defined curriculum.
Platform, a modular course, offering specific short-term workshops, has been in place since Autumn 2015 and offers a wide variety of Acting, Directing, Musical and Technical Theatre Workshops.
Within the Literature Classes, The Questors offers a variety of informal literature courses for those looking to meet with fellow enthusiasts to examine particular texts. These are daytime courses focusing on a different topic each term in depth. One-day summer literature workshops are also sometimes offered.
The theatre also runs an Outreach programme, funded by an anonymous member donation, which works with U18 ESOL (English for Speakers of Other Languages) refugees. These workshops, culminating in a Studio performance at The Questors, are run in conjunction with Ealing Green College and Southall Community College.
As acknowledged earlier these programmes all ran until March 2020, when the first lockdown brought about the closure of the theatre. This affected all income streams.
In the spring and summer free online youth theatre classes were offered for year groups 7 through 13. Subsequently online creative summer school courses for young people took place.
Free online courses were also run for our Student Group to keep them engaged in the organisation during this difficult time.
Page 2
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **OBJECTIVES AND ACTIVITIES**
## **Volunteers**
The Questors cannot operate without the valuable assistance and phenomenal expertise of its membership. The enthusiastic, untiring, positive nature of our contributors is indicative of the organisation and what it stands for. The Trustees would like to take this opportunity to acknowledge the exceptional work of the members and thank them for everything they do within the creative world of The Questors.
## **STRATEGIC REPORT**
## **Achievement and performance**
## **Charitable activities**
Artistically The Questors' own season normally comprises of 18 shows plus a variety of one-off staged readings and performances branded as QExtra. This year there were only 12 shows plus 5 out the 10 programmed QExtra events before the theatre was ordered to close.
Artistic endeavours then went online with a new writing season performed on camera and available on YouTube plus new online audio dramas; two series are now available on YouTube and Sound Cloud. In addition, regular free masterclasses in theatre related fields are part of the Instagram offering.
There was finally a limited opportunity for performances outdoors over the August bank holiday weekend. Only 90 seats were available in the theatre Courtyard at this time.
Normally the two theatres would be let to around 19 visiting companies but in 2019/20 it was a total of 6. The majority of hires happen in the spring and summer but this was of course when the country was in Lockdown.
The organisation has maintained relationships with our regular hirers over the lockdown period and has engaged both with amateur and professional groups with regard to possible opportunities for the future.
The organisation has operated with limited staff who were homeworking, from April 2020. It has claimed grants under the government's Coronavirus Job Retention Scheme for office staff, tutors and teaching assistants.
## **Investment performance**
The Trustees are currently satisfied with the investment performance of the assets and at present do not have any plans to expand its portfolio or feel it necessary to dispose of those currently held.
## **Financial review**
## **Transactions and financial position**
A deficit of £20,291 was recorded in the year, after a depreciation charge of £37,048, compared to a surplus of £211,648 in 2019. The net current assets have decreased to £454,283 at 31 August 2020 compared to £521,002 at the end of the previous year.
## **Tangible fixed assets for use by the charity**
Details of movements in fixed assets are set out in Note 12 to the accounts.
## **Reserves policy**
The reserves policy of the Charity, as set and reviewed by the Trustees, is that the appropriate level of unrestricted net current assets should be £100,000. This is so that overheads can be covered for a reasonable period should income levels fall significantly and also to act as a contingency against a major unexpected event arising. This is set for reconsideration following the Covid-19 pandemic.
Unrestricted net current assets at 31 August 2020 were £399,762.
## **Financial performance**
Income for the year decreased by 27% to £637,200 over the previous year.
Expenditure for the year decreased by 1%, to £657,479 over the previous year.
Page 3
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **STRATEGIC REPORT**
## **Market value of land and buildings**
The net book value of freehold land and buildings at 31 August 2020 is £157,790. The trustees consider that the present market value is not less than book value.
## **Investment policy and objectives**
The Charity has the power to invest in accordance with the objects clause in its Memorandum of Association and in accordance with the general law. Funds surplus to day-to-day requirements are kept at a number of reputable Financial Conduct Authority (FCA) approved commercial banks. We have investments valued at £11,184 (cost £10,030) in M&G unit trust.
## **Statement on Public Benefit**
The Trustees have complied with the duty in Section 17 of the Charities Act 2011 to have due regard to guidance published by The Charity Commission, including public benefit guidance.
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Governing document**
The Questors Limited ('The Questors') is a company limited by guarantee governed by its Memorandum and Articles of Association dated 2 June 1949. These have been amended from time to time, most recently at a general meeting on 6 February 2005 when the Committee of Management with a membership of 15 was replaced by a Board of Trustees with a membership of 10. It is registered as a charity with the Charity Commission. The charitable company is controlled by a Board of Trustees all of whom are Directors and Trustees of the Charity.
Anyone over the age of 18 can become a full member of the Company and acquire all the legal rights and obligations of membership including the right to vote at General Meetings. The Questors also offers Associate Membership of which there are currently two categories. Student Membership is open to a person who is a member of The Questors Youth Theatre, The Questors Student Group or Young Studio, or who is a student at a College/University receiving tuition at The Questors Theatre. Partner Membership is open to any group, organisation or company which The Questors has helped to found or supports (for example The Questors Choir and Pitshanger Poets) or with which The Questors has entered into a partnership agreement.
Details relating to membership are set out in the Bye-Laws, the current version being those approved by the Annual General Meeting on 16th March 2015.
The liability of the members is limited to a guarantee of 5 pence per member in the event of an insolvent winding-up.
## **Recruitment and appointment of new trustees**
There is a maximum of 10 Trustees who are elected by the full members at the Annual General Meeting. No outside body has nomination rights. Three Trustees, being the longest serving but chosen by lot if more than three have served for the same length of time, retire by rotation and are eligible for re-election. In addition any Trustee who has served more than two and a half consecutive years since election must retire and is eligible for re-election. The Trustees have the power to co-opt members to fill casual vacancies, but co-opted members are required to retire at the next Annual General Meeting and are eligible for re-election.
Page 4
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Organisational structure**
The Board of Trustees administers the Charity. The Board meets ten times a year. There are a number of sub-committees created by the Board to examine issues in more detail than the full Board is able to do. The Finance Sub-committee meets at least quarterly to scrutinise the accounts, budget and financial matters. The Facilities Sub-committee is charged with preparing and keeping under review a facilities plan that captures all the non-routine repair needs and development opportunities on the site, and making expenditure recommendations to the Board. The Learning and Participation Sub-committee looks at all matters relating to education. The Diversity and Inclusion Sub-committee is charged with providing consultative support to the executive officers and the Board with respect to matters relating to demographic, cultural and social differences within The Questors membership and audiences, and providing support on developing opportunities to be involved in The Questors activities. The Board itself may meet outside the regular cycle for special purposes and may appoint task forces, usually led by a Trustee but involving other active members as well, to examine particular issues in depth.
From 2017 we have two senior executive officers of The Questors - the Executive Director, which remains a paid role, and the Artistic Director, which remains a volunteer member role. All other member and staff management roles take their day-to-day leadership from these two senior executive officers who attend all board meetings. Within this structure the trustees have taken on the following portfolios, to ensure good communication within the organisation for: Diversity and Inclusion; Education; Facilities; Finance; Front of House; Health & Safety; Marketing; Membership & Communications; Production and Strategy.
Broadly speaking, the Board of Trustees concerns itself with longer term strategic issues and the Executive with operational issues within policies and resources determined by the Board.
Day-to-day operations are managed by the Executive Director and there are other paid staff, plus tutors on the educational courses.
## **Induction and training of new trustees**
New Trustees receive an information pack comprising the Memorandum and Articles of Association and other key documents and are invited to discuss their role with the Chairman and Company Secretary. There is a formal Trustee Role Description that embraces both their duties under company and charity law and what The Questors itself expects of a Trustee.
Trustees are currently drawn only from the active membership. As such, they will be familiar with The Questors and are likely to have been involved in the theatre for many years. There is, therefore, no formal process of inducting new Trustees into the work and aims of the Company, as would be necessary were Trustees appointed from outside. Having said that, the Board actively encourages Trustees to familiarise themselves with aspects of the organisation they may not know so well, in particular the various roles of the permanent staff and those non-theatre activities that are increasingly important to the financial viability of the Company.
The Board has considered the possibility of inviting people from outside to be Trustees and the issue will be kept under review.
## **Wider network**
At present The Questors Limited does not consider itself part of a wider network.
## **Partnerships**
The Charity's long-standing relationship with Kingston College continues with the provision of training in technical theatre skills towards the college's BTEC Extended Diploma in Production Arts/Technical Theatre.
## **Related party**
The theatre's bar is run by a separate body, the Grapevine Club, with its own constitution and accounts, which occupies its premises under a licence from The Questors. It also donates its surplus income to the theatre. In the year ended 31 August 2020 the licence fee was £22,500 (2019: £45,000) with a donation of £8,000 (2019: £11,000).
Page 5
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT**
## **Risk management**
In terms of physical risks, we have not been inspected by the Fire Safety Peak Activity Team, due to the Covid-19 pandemic. We have however maintained the site with independent professional checks on fire extinguishers, genie equipment, the lift, workshop saws, wardrobe sewing machines and cleaning equipment as well as the alarm system as required by our insurers who remain satisfied that our infrastructure and procedures meet current best practice.
The Trustees are aware that the maintenance of standards and the enforcement of health and safety rules are important. In addition, compliance with Covid regulations will continue to be an absolute necessity.
In terms of financial risks, one of the purposes of setting up the Finance Group is to help the Trustees better monitor financial progress and plan for the continuing investments in the site. The work of the Finance Group has been particularly important during the Covid-19 pandemic in helping advise the board on a general risk framework and possible pandemic planning for the future.
Trustees work to an annual budget and a plan for works to the site, which is reviewed regularly in consultation with the Facilities Group.
The infrastructure and facilities owned by The Questors are considerable in size and complexity and just to keep the site safely operational requires considerable maintenance work within the limited funding available. A serious concern is that as the site ages more major maintenance work will be required. A master list of works that would improve the facilities for all users is maintained and regularly reviewed and updated. Projects from the list are activated as and when funding can be allocated.
The Trustees have a reserves policy designed to keep liquid funds sufficient to cover an unexpected repair or a sudden downturn in income. This has been evidenced by the global pandemic.
The Questors receives independent advice on working with young people via the ITC (Independent Theatre Council), LTG (Little Theatre Guild) and ACE (Arts Council England). The Questors Youth Theatre (QYT) has a Child Protection Policy Statement, Child Protection Procedures and a written code of behaviour for all staff. All tutors and teaching assistants working with our young people are nowadays checked through the DBS (Disclosure and Barring Service) via the LTG.
## **REFERENCE AND ADMINISTRATIVE DETAILS**
## **Registered Company number**
00469253 (England and Wales)
## **Registered Charity number**
207516
## **Registered office**
The Questors Theatre 12 Mattock Lane Ealing London W5 5BQ
Page 6
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **Trustees**
D Emmet A J Arnold-Forster R Mead M Weaver A Atchison (resigned 13.5.20) C Durrant (resigned 5.1.20) N C Flitman (resigned 13.5.20) D King M F D Hill (resigned 23.4.20) R E Hobson R W Eagle (appointed 13.5.20) S A J Higginson (appointed 13.5.20) P R Sheahan (appointed 13.5.20) J T Welch (appointed 10.8.20)
## **Company Secretary**
D Emmet
## **Auditors**
Johnsons, Chartered Accountants Statutory Auditor Ground Floor 1 - 2 Craven Road Ealing London W5 2UA
## **Executive Director**
Andrea Bath
Page 7
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **THE IMMEDIATE FUTURE**
The immediate future for The Questors is to ensure that it is in place to reopen safely for members, volunteers, staff, visitors, contractors and hirers with Covid-19 precautions in place as directed by the government.
The Questors is regarded by the local and national arts community as an exciting company that other organisations want to work with and learn from. The Questors is engaging with Ealing Council's green initiative.
On the educational front, the 2018/19 academic year saw the completion of the final year of the BA Hons degree in Theatre Production in collaboration with the University of West London (UWL); a work-based course combining study and vocational practice, which commenced in September 2012. Competition from other universities meant that UWL restructured the programme to a 2-year degree course over 4 semesters per year. Unfortunately, even through clearing they were unable to get the requisite number of students.
In 2019/20 UWL Acting and Musical Theatre students were having daily classes in all three rehearsal rooms, which enhances The Questors' profile as a partner with the major educational institution in the area shaping the future of arts provision in the Borough of Ealing. An additional educational establishment will be part of the engagement programme for 2020/21 reporting.
The Questors continues to offer the BTEC Level 3 Extended Diploma in Production Arts with Kingston College.
In addition, The Questors is a member of the Society of Independent Theatres which includes: Canal Café, Charing Cross Theatre, The Courtyard, Finborough Theatre, Hoxton Hall, Jermyn Street Theatre, King's Head Theatre, Landor Theatre, Lion & Unicorn, Park Theatre, Pleasance Theatre and Theatre 503. The objectives of this group include: raising the profile of independent venues within the theatre industry and with the general public; encouraging the development of the performing arts; exchanging information on theatre companies and suppliers; exchanging ideas and proposals for marketing, promotion and audience development. It has been a good sounding board and advice forum during the crisis.
The organisation is aware of the developments in cultural facilities, residential accommodation and Crossrail links that may have an influence on the local Ealing environment and the theatre's audiences over the next few years and takes this into account with regard to strategic planning.
In 2019/20, The Questors reached its 90th anniversary season but sadly celebratory events were cut short. As well as shows that did not happen, a major conference for the LTG (Little Theatre Guild) could not take place.
Prior to the pandemic, a long-term programme of renovation and refurbishment was being prepared in order for The Questors site to be fit for purpose for its 100th birthday in 2029 and beyond. This work will continue with the recognition that further crises could occur that might have severe implications for arts venues in the future.
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES**
The trustees (who are also the directors of The Questors Limited for the purposes of company law) are responsible for preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charity SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 8
**THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 AUGUST 2020**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES - continued**
In so far as the trustees are aware:
- there is no relevant audit information of which the charitable company's auditors are unaware; and
- the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.
## **AUDITORS**
The auditors, Johnsons, Chartered Accountants, will be proposed for re-appointment at the forthcoming Annual General Meeting.
Report of the trustees, incorporating a strategic report, approved by order of the board of trustees, as the company directors, on ............................................. and signed on the board's behalf by:
...............................................................................
D Emmet - Secretary
Page 9
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE QUESTORS LIMITED**
## **Opinion**
We have audited the financial statements of The Questors Limited (the 'charitable company') for the year ended 31 August 2020 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
In our opinion the financial statements:
- give a true and fair view of the state of the charitable company's affairs as at 31 August 2020 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;
- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
- have been prepared in accordance with the requirements of the Companies Act 2006.
## **Basis for opinion**
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
## **Conclusions relating to going concern**
We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:
- the trustees' use of the going concern basis of accounting in the preparation of the financial statements is not appropriate; or
- the trustees have not disclosed in the financial statements any identified material uncertainties that may cast significant doubt about the charitable company's ability to continue to adopt the going concern basis of accounting for a period of at least twelve months from the date when the financial statements are authorised for issue.
## **Other information**
The trustees are responsible for the other information. The other information comprises the information included in the Annual Report, other than the financial statements and our Report of the Independent Auditors thereon.
Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.
## **Opinions on other matters prescribed by the Companies Act 2006**
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Trustees for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Trustees has been prepared in accordance with applicable legal requirements.
## **Matters on which we are required to report by exception**
In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Trustees.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of trustees' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.
Page 10
## **REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF THE QUESTORS LIMITED**
## **Responsibilities of trustees**
As explained more fully in the Statement of Trustees' Responsibilities, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
## **Our responsibilities for the audit of the financial statements**
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Independent Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Independent Auditors.
## **Use of our report**
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in an auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report, or for the opinions we have formed.
Edmund Cartwright (Senior Statutory Auditor) for and on behalf of Johnsons, Chartered Accountants Statutory Auditor Ground Floor 1 - 2 Craven Road Ealing London W5 2UA
Date: .............................................
Page 11
**THE QUESTORS LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING AN INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 AUGUST 2020**
|Unrestricted
fund
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations, grants and legacies
2
114,484
**Charitable activities**
5
Theatrical activities
483,240
Other trading activities
3
24,893
Investment income
4
6,514
**Total**
629,131
**EXPENDITURE ON**
**Charitable activities**
6
Theatrical activities
648,601
Net gains/(losses) on investments
(12)
**NET INCOME/(EXPENDITURE)**
(19,482)
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
654,475
**TOTAL FUNDS CARRIED FORWARD**
634,993|Restricted
funds
£
7,816
-
-
253
8,069
8,878
-
(809)
107,150
106,341|2020
Total
funds
£
122,300
483,240
24,893
6,767
637,200
657,479
(12)
(20,291)
761,625
741,334|2019
Total
funds
£
126,017
671,161
71,302
4,088|
|---|---|---|---|
||||872,568
661,140
220|
||||211,648
549,977|
||||761,625|
The notes form part of these financial statements
Page 12
## **THE QUESTORS LIMITED (REGISTERED NUMBER: 00469253)**
## **BALANCE SHEET 31 AUGUST 2020**
|Notes
**FIXED ASSETS**
Tangible assets
12
Investments
13
**CURRENT ASSETS**
Debtors
14
Cash at bank and in hand
**CREDITORS**
Amounts falling due within one year
15
**NET CURRENT ASSETS**
**TOTAL ASSETS LESS CURRENT LIABILITIES**
**NET ASSETS**
**FUNDS**
17
Unrestricted funds
Restricted funds
**TOTAL FUNDS**|Unrestricted
fund
£
235,231
-
235,231
24,118
452,116
476,234
(76,472)
399,762
634,993
634,993|Restricted
funds
£
40,636
11,184
51,820
-
54,521
54,521
-
54,521
106,341
106,341|2020
Total
funds
£
275,867
11,184
287,051
24,118
506,637
530,755
(76,472)
454,283
741,334
741,334
634,993
106,341
741,334|2019
Total
funds
£
229,427
11,196
240,623
32,937
632,356
665,293
(144,291)
521,002
761,625
761,625
654,475
107,150
761,625|
|---|---|---|---|---|
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. D King - Trustee
The notes form part of these financial statements
Page 13
**THE QUESTORS LIMITED**
## **CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020**
|Notes
**Cash flows from operating activities**
Cash generated from operations
1
Net cash (used in)/provided by operating activities
**Cash flows from investing activities**
Purchase of tangible fixed assets
Interest received
Dividends received
Net cash used in investing activities
**Change in cash and cash equivalents in the**
**reporting period**
**Cash and cash equivalents at the beginning of**
**the reporting period**
**Cash and cash equivalents at the end of the**
**reporting period**|2020
£
(48,998)
(48,998)
(83,488)
6,516
251
(76,721)
(125,719)
632,356
506,637|2019
£
270,852
270,852
(87,198)
3,837
251
(83,110)
187,742
444,614
632,356|
|---|---|---|
The notes form part of these financial statements
Page 14
**THE QUESTORS LIMITED**
## **NOTES TO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 AUGUST 2020**
## **1. RECONCILIATION OF NET (EXPENDITURE)/INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES**
|**Net (expenditure)/income for the reporting period (as per the Statement of**
**Financial Activities)**
**Adjustments for:**
Depreciation charges
Losses/(gain) on investments
Loss on disposal of fixed assets
Interest received
Dividends received
Decrease in debtors
Decrease in creditors
**Net cash (used in)/provided by operations**|2020
£
(20,291)
37,048
12
-
(6,516)
(251)
8,819
(67,819)
(48,998)|2019
£
211,648
23,446
(220)
115
(3,837)
(251)
72,274
(32,323)
270,852|
|---|---|---|
## 2. **ANALYSIS OF CHANGES IN NET FUNDS**
||At 1.9.19|Cash flow|At 31.8.20|
|---|---|---|---|
||£|£|£|
|**Net cash**||||
|Cash at bank and in hand|632,356|(125,719)|506,637|
||632,356|(125,719)|506,637|
|**Total**|632,356|(125,719)|506,637|
The notes form part of these financial statements
Page 15
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2020**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.
Since the year-end COVID-19, a global pandemic, has forced the government to put the country into lockdown. The directors continue to monitor the ongoing impact this will have on the Charitable Company in these uncertain times.
## **Incoming resources**
Income comprises the value of goods and services supplied by the charity and subscriptions, exclusive of value added tax. Subscriptions received for membership extending into the next accounting year are accounted for on a pro rata basis by way of deferred income. Voluntary income and donations are accounted for on an accruals basis. Any income from fund-raising is shown gross. Where goods and services have been donated, no income is recognised where there is no financial cost borne by a third party. Legacies are accounted for as incoming resources either upon receipt or where the receipt of the legacy is known. This will be once confirmation has been received from the representatives of the estate that payment of the legacy will be made or property transferred once all conditions attached to the legacy have been fulfilled.
## **Resources expended**
Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to each category. Expenditure is stated excluding value added tax. As the charity makes value added tax exempt supplies, there is an element of the VAT in expenditure, which is irrecoverable and this is shown within the expenditure for charitable activities. Fund-raising expenditure comprises costs incurred in the process of obtaining financial contributions towards the charity's work from people and organisations. This includes the cost of advertising for donations and the staging of special fund-raising events.
## **Allocation and apportionment of costs**
Support costs are apportioned to support the income activities of the theatre based on time and occupancy. Following a review of the apportionment of costs during the year ended 31 August 2019 office staff costs directly relating to charitable activities were taken out of support costs and re-allocated to the direct cost of those charitable activities.
## **Tangible fixed assets**
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold land and buildings - 5% on reducing balance Facilities for disabled - 5% on cost Fixtures fittings & equipment - 20% on reducing balance Computer equipment - 20% on cost
The Renaissance Project was a major refurbishment and improvement of The Questors facilities. The cost of the Renaissance Project has been fully depreciated.
The fixed assets included in the Renaissance Project category were purchased out of a restricted grant. This allowed for the benefactor to claw back part of the grant on a reducing scale over a period of 20 years, should the Charity not comply with the terms of the grant. This period expired at 31 August 2017 and there is no longer any restriction to this asset.
## **Taxation**
The charity is exempt from corporation tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Page 16
continued...
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **1. ACCOUNTING POLICIES - continued**
## **Fund accounting**
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
## **Pension costs and other post-retirement benefits**
The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Leasing commitments**
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are included in the Statement of Financial Activities as incurred.
## **2.**
## **3.**
## **4.**
## **DONATIONS, GRANTS AND LEGACIES**
|Legacies
Government grant
Donation from Grapevine Club
Donations from individuals
Grants received, included in the above, are as follows:
Coronavirus job retention scheme grant
**OTHER TRADING ACTIVITIES**
Sundry and special events
Grapevine licence fee
**INVESTMENT INCOME**
Income on listed investment
Deposit account interest|2020
£
46,681
40,013
8,000
27,606
122,300
2020
£
40,013
2020
£
2,393
22,500
24,893
2020
£
251
6,516
6,767|2019
£
65,000
-
11,000
50,017|2019
£
65,000
-
11,000
50,017|2019
£
65,000
-
11,000
50,017|
|---|---|---|---|---|
|||126,017|||
||||2019
£
-||
||||2019
£
26,302
45,000||
||||71,302||
||||2019
£
251
3,837
4,088||
|||||4,088|
continued...
Page 17
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
|**5.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Membership subscriptions
Theatrical activities
Income from productions
Theatrical activities
Income from education
Theatrical activities
Hiring and letting
Theatrical activities
**6.**
**CHARITABLE ACTIVITIES COSTS**
Theatrical activities
**7.**
**SUPPORT COSTS**
Theatrical activities
**8.**
**NET INCOME/(EXPENDITURE)**
Net income/(expenditure) is stated after charging/(crediting):
Auditors' remuneration
Depreciation - owned assets
Deficit on disposal of fixed assets
Operating lease rentals
Pension costs|2020
£
51,215
189,526
136,685
105,814
483,240
Support
Direct
costs (see
Costs
note 7)
£
£
548,581
108,898
Governance
Other
costs
£
£
98,048
10,850
2020
£
10,850
37,048
-
1,473
9,976|2019
£
51,424
225,380
212,717
181,640|
|---|---|---|
|||671,161|
|||Totals
£
657,479|
|||Totals
£
108,898|
|||2019
£
11,700
23,446
115
2,587
9,132|
## **9. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 August 2020 nor for the year ended 31 August 2019 .
## **Trustees' expenses**
There were no trustees' expenses paid for the year ended 31 August 2020 nor for the year ended 31 August 2019.
continued...
Page 18
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **10. STAFF COSTS**
|Wages and salaries
Social security costs
Pension costs
The average monthly number of employees during the year was as follows:
Management & administration
Tutors
Teaching assistants
No employees received emoluments in excess of £60,000.
**11.**
**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
fund
£
**INCOME AND ENDOWMENTS FROM**
Donations, grants and legacies
123,877
**Charitable activities**
Theatrical activities
671,161
Other trading activities
63,437
Investment income
3,831
**Total**
862,306
**EXPENDITURE ON**
**Charitable activities**
Theatrical activities
655,767
Net gains on investments
-
**NET INCOME**
206,539
**RECONCILIATION OF FUNDS**
**Total funds brought forward**
447,936
**TOTAL FUNDS CARRIED FORWARD**
654,475||2020||2019|
|---|---|---|---|---|
|||£||£|
|||260,972||246,945|
|||15,830||11,795|
|||9,976||9,132|
||||||
||||||
|||286,778||267,872|
||||||
||||||
|||2020
10
9
7
26
Restricted
funds
£
2,140
-
7,865
257
10,262
5,373
220
5,109
102,041
107,150||2019
9
14
8
31
Total
funds
£
126,017
671,161
71,302
4,088
872,568
661,140
220
211,648
549,977
761,625|
continued...
Page 19
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **12. TANGIBLE FIXED ASSETS**
|Freehold
land and
buildings
£
**COST**
At 1 September 2019
619,595
Additions
-
At 31 August 2020
619,595
**DEPRECIATION**
At 1 September 2019
453,501
Charge for year
8,304
At 31 August 2020
461,805
**NET BOOK VALUE**
At 31 August 2020
157,790
At 31 August 2019
166,094
Renaissance
Project
£
**COST**
At 1 September 2019
853,053
Additions
-
At 31 August 2020
853,053
**DEPRECIATION**
At 1 September 2019
853,053
Charge for year
-
At 31 August 2020
853,053
**NET BOOK VALUE**
At 31 August 2020
-
At 31 August 2019
-|Facilities
Fixtures
for
fittings
disabled
& equipment
£
£
109,435
200,988
-
77,372
109,435
278,360
102,597
147,827
507
26,107
103,104
173,934
6,331
104,426
6,838
53,161
Computer
equipment
Totals
£
£
13,097
1,796,168
6,116
83,488
19,213
1,879,656
9,763
1,566,741
2,130
37,048
11,893
1,603,789
7,320
275,867
3,334
229,427|
|---|---|
continued...
Page 20
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **13. FIXED ASSET INVESTMENTS**
|**FIXED ASSET INVESTMENTS**||
|---|---|
||Listed|
||investments|
||£|
|**MARKET VALUE**||
|At 1 September 2019|11,196|
|Listed Investments Revaluation|(12)|
|At 31 August 2020|11,184|
|**NET BOOK VALUE**||
|At 31 August 2020|11,184|
|At 31 August 2019|11,196|
|There were no investment assets outside the UK.||
The historic cost of listed investments is £10,030.
## **14. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
|Trade debtors
Prepayments and accrued income
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Social security and other taxes
VAT
Other creditors
Accrued expenses
Deferred income||2020
£
13,172
10,946
24,118
2020
£
9,772
5,390
13,772
3,126
12,790
31,622
76,472||2019
£
10,115
22,822|
|---|---|---|---|---|
|||||32,937|
|||||2019
£
21,278
6,154
3,057
3,562
19,072
91,168|
||||144,291||
## **15. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
## **16. LEASING AGREEMENTS**
The following operating lease payments are committed to be paid within one year:
||2020|2019|
|---|---|---|
||£|£|
|Expiring:|||
|Between one and five years|1,473|2,587|
||||
continued...
Page 21
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **17. MOVEMENT IN FUNDS**
|**Unrestricted funds**
General fund
**Restricted funds**
Renewal fund
Nevile and Julie Cruttenden fund
**TOTAL FUNDS**
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
629,131
**Restricted funds**
Renewal fund
7,195
Nevile and Julie Cruttenden fund
874
8,069
**TOTAL FUNDS**
637,200
**Comparatives for movement in funds**
**Unrestricted funds**
General fund
**Restricted funds**
Renewal fund
Nevile and Julie Cruttenden fund
**TOTAL FUNDS**|At 1.9.19
£
654,475
86,040
21,110
107,150
761,625
Resources
expended
£
(648,601)
(8,168)
(710)
(8,878)
(657,479)
At 1.9.18
£
447,936
78,460
23,581
102,041
549,977|Net
movement
At
in funds
31.8.20
£
£
(19,482)
634,993
(973)
85,067
164
21,274
(809)
106,341
(20,291)
741,334
Gains and
Movement
losses
in funds
£
£
(12)
(19,482)
-
(973)
-
164
-
(809)
(12)
(20,291)
Net
movement
At
in funds
31.8.19
£
£
206,539
654,475
7,580
86,040
(2,471)
21,110
5,109
107,150
211,648
761,625|
|---|---|---|
continued...
Page 22
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **17. MOVEMENT IN FUNDS - continued**
Comparative net movement in funds, included in the above are as follows:
|**Unrestricted funds**
General fund
**Restricted funds**
Renewal fund
Nevile and Julie Cruttenden fund
**TOTAL FUNDS**|Incoming
resources
£
862,306
8,754
1,508
10,262
872,568|Resources
expended
£
(655,767)
(1,174)
(4,199)
(5,373)
(661,140)|Gains and
Movement
losses
in funds
£
£
-
206,539
-
7,580
220
(2,471)
220
5,109
220
211,648|
|---|---|---|---|
At the year end, there were two restricted funds:
a) The Renewal Fund represents funds raised towards the refurbishment of the Charity's premises and facilities.
b) The Nevile and Julie Cruttenden Fund exists to support students on the two-year acting course;
## **18. EMPLOYEE BENEFIT OBLIGATIONS**
The company operates a "Selective Pension Plan" whereby the company pays a defined contribution for eligible employees into the employee's own personal pension scheme. The company also provides a personal pension scheme facility entitled The Questors 2 Grouped Individual Retirement Plan no 70003-91R-GPP. The pension charge represents contributions payable by the company for the year. The company's liability is limited to the amount of the contribution. The liability for meeting future pension payments rests solely with the employee's pension plan provider. There was an amount of £1,667 unpaid at the year end.
## **19. CAPITAL COMMITMENTS**
||2020|2019|
|---|---|---|
||£|£|
|Contracted but not provided for in the financial statements|-|38,522|
||||
## **20.**
## **RELATED PARTY DISCLOSURES**
The Questors Grapevine Club is a separate entity which occupies part of the Theatre on the basis of a licence fee of £22,500 (2019: £45,000) and donates its surplus income to The Questors Theatre amounting to £8,000 (2019: £11,000).
continued...
Page 23
**THE QUESTORS LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 AUGUST 2020**
## **21. LEGAL STATUS OF THE CHARITY**
The Charitable Company is controlled by a Board of Trustees all of whom are Directors and Trustees of the Charity.
The liability of the members is limited to a guarantee of 5p per member in the event of an insolvent winding up.
Page 24