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2023-03-31-accounts

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THEATRE CENTRE LIMITED (A company limited by guarantee)

Report and Financial Statements For the Year Ended 31 March 2023

Charity number 210262 Company number 0585723 (England & Wales)

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

CONTENTS

Page
Reference and Administrative Details 3-4
Report of the Directors (Trustees) 4-12
Independent Examiner’s Report 13
Statement of Financial Activities 14
Balance Sheet 15
Notes forming part of the Financial Statements 16-24

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Reference and Administrative Details

Constitution

The company is incorporated under the Companies Act, company number 0585723 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 210262.

Directors and Trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association each trustee shall hold the office for a term of three years. A trustee is eligible for reappointment for a further term of three years upon the expiry of his or her previous term of office. A trustee who holds the office for two consecutive terms shall not be permitted to hold the office for a further term unless a period of not less than one year has elapsed from the date of the expiry of the previous term of office. Notwithstanding the foregoing, the directors may by simple majority waive the One Year Restriction in respect of any director who has served two consecutive terms (and who would therefore otherwise be required to retire) if they consider (acting reasonably) that such waiver would be in the best interests of the charity.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees meetings.

The trustees throughout the year and since the year end, were:

Aleksa Asme appointed 31st October 2022
Yamin Choudury resigned 31stMarch 2023
Titilola Dawudu
Frazer Flintham appointed 23rdAugust 2022
Gareth Hughes resigned 31stMarch 2023
Chelsie Jones resigned 13thOctober 2022
David Richard Luff
Rebecca Major Chair
Andrew James Marcus resigned 12thMay 2022
Temitayo Adetutu Medupin resigned 5thApril 2023
Vanessa Sauls Avolio resigned 28thOctober 2023
Andrew Stainton resigned 18thJuly 2022

Chief Executive

Emma Rees – Executive Director / CEO

Independent Examiners

Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.

Bankers

The Co-operative Bank plc, Skelmersdale WN8 6WT

Solicitors

Harbottle & Lewis, Hanover House, 14 Hanover Square, London W1S 1HP.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Operation Address

1 Town Barn Road, Crawley, Rh11 4XG

Registered Office

1 Town Barn Road, Crawley, Rh11 4XG

Trustees’ Report

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2023, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on pages 3-4 forms part of this report. The financial statements comply with Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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).

Principal Activity

The principal activity of the company during the year continued to be the encouragement of the arts by the production of educational plays.

Objectives and Activities

The purpose of the charity remains to promote, maintain, improve and advance education, particularly by the production of educational plays and the encouragement of the arts. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)’.

The principal strategy for achieving the stated objective is in the commissioning of new plays and participatory projects, both physical and digital, and engaging creative teams and artists to create and carry out the specific works. In pursuing the objective/s, development work with schools and young people, and with key stakeholders such as artists, industry professionals and academic and social institutions, helps to ensure the integrity that is implied for successful outcomes/impact. By working across artistic and digital platforms we ensure young people can engage with and experience the benefits of our work in schools and theatres, online, through social media and in community settings.

Our most recent ‘About Us’ explains:

Theatre Centre is a national touring company that makes bold and relevant shows with and for young people. We commission new work from the most exciting writers and artists and take this work into schools and theatres across the UK. We have recently launched Future Makers, a whole new way of supporting young people as artists, creatives, active citizens and leaders. It is the core of all of our work and is the key to the way we unlock our young people-centred practice in schools and in our national and local communities.

Future Makers brings young people, artists and practitioners together to develop skills, explore big ideas and make work, share skills, explore big ideas and empower young people as artists, creatives, active citizens and leaders. Our work is all about working with and amplifying the voice of young people, to develop agency and empowerment, while telling relevant, authentic, and relatable stories.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Founded in 1953, we are an acknowledged leader in our field and our practice continues to evolve. Theatre Centre is predominantly a Learning Organisation and has an embedded culture of developing and nurturing everyone involved in or touched by the work.

Staffing and operations

Staff turnover

In autumn 2022, we successfully recruited to the roles of Future Makers Producer (f/t), Marketing Manager (p/t) and Touring Producer (p/t), bringing the team up to full capacity once again. Additionally, we created a freelance role of Strategic Development Partner to support our work developing the Future Makers model and integrating it a cross all areas of the company’s work.

During 2022/23, members of the core team undertook formal and informal training and development. The Artistic and Executive Directors also led external training sessions and contributed to panels and round tables including working with students at Central School of Speech & Drama as part of our ongoing partnership with CSSD.

We also encouraged the team to network widely and continue to be active in peer networks such as Assetij UK, Drama & Theatre Education Alliance, Participatory Arts London, PYA England, Stage Sight, Touring & Producing Companies Network, Artist/Practice-led NPOs, and two of the team are school Governors.

We continued to place emphasis on the delivery of actions surrounding our Equal Opportunities policy. As with previous years we are pleased to report that we have exceeded our equality targets re ethnicity and gender of trustees and commissioned/engaged artists.

Environmental Sustainability

We continued our commitment to Environmental Sustainability, using the Theatre Green Book, Green Riders and reinforcing our policy in company touring briefings. We routinely include an Environmental Sustainability clause in all employment contracts, core and freelance. We ran an internal working group and include a focus on sustainability (awareness, action, learning and comms) each week in team meetings. We are part of the Sustainability working group of the Producing & Touring Companies Network, working towards collaborative actions and communications around environmental sustainability, addressing climate change and climate justice.

In 2022/23 our total emissions were 1.75 tonnes CO2e. Our intention is to maintain Net Zero activity through an integrated plan of reductions and offsetting. Now we are leaseholders of a building that we control, our footprint will increase. We are developing an Environmental Responsivity Action Plan for the building with sustainability at the core of our operations, including hires. 2021/22 was the first year we achieved Net Zero through reductions and offsetting and 2022/23 will be the second year at Net Zero.

Policies

We have a full range of polices, including all those required by Arts Council England (ACE) and maintain a Risk Register for all aspects of our operation. We are a Disability Confident Employer and an ITC Ethical Employer, paying ITC/Equity rates as a minimum and committed to fair pay. We are also a London Living Wage employer and an active Organisation Member of Stage Sight and of the Stage Sight Consortium. We use the Theatre Green Book, the Anti-Racism Touring Rider and are signed up to the Anti-Ableism Pledge.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Premises

During 2022/23, Theatre Centre was one of 11 Arts Council National Portfolio Organisations (NPOs) resident at The Albany, an active, grass-roots theatre, arts and community centre and a leading member of the Future Arts Centres network. In July 2023, Theatre centre relocated to Crawley, as part of the Arts Council NPO Transfer programme, and took over the lease of West Green Community Space, with an ambition to create a cultural hub in partnership with other Crawley based arts organisations.

Creative programme

During 2022/23, we:

Total audiences for our touring work were 8,640 over 79 performances, 55 of which were presented in schools and 24 in theatres.

Human Nurture tour Autumn 2022 (schools only)

Following the success of the spring 2022 tour of Human Nurture by Ryan Calais Cameron, directed by Rob Watt and made in co-production with Sheffield theatres, we had so much interest from schools that we remounted the production for a tour in autumn 2022. This was a school tour with only one venue, Theatre Peckham, included in the tour schedule. As before, the response from students, teachers and audiences was tremendous and Human Nurture continued to be celebrated as an important, powerful and deeply nuanced piece of writing that teachers repeatedly said should be required viewing for all.

We gave 40 performances, 4 in Theatre Peckham and 36 in 25 schools around the country, reaching combined audiences of 5,088.

Birds and Bees tour Spring 2023 (theatres & schools)

co-production with Sheffield Theatres

“Tackles its issues in such an honest, open and engaging manner that it should be required viewing for any teenager – and their parents.” ★ ★ ★ ★ The Stage

“The Breakfast Club for the 21[st] century.” The Times

The tour of Birds and Bees by Charlie Josephine followed the film we made for schools to use during lockdown. The live production was the second of five planned co-productions with Sheffield Theatres.

We used the same touring model as with the spring tour of Human Nurture in spring 2022, aiming to base ourselves in a town for a week, taking the production into local schools for the first half of the week and into the theatre for the second. While we had more schools-only weeks than in the previous tour, this model still worked in several weeks and successfully offered schools a range of ways to engage with the production. Once again we saw audiences coming to the theatre on the recommendation of the students and teachers who had seen it in their school. We were able to build

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

relationship with new schools, strengthen those with old and bring the local theatre and schools closer together.

“I thought that the show was amazing because there was a lot of acting but it was quality the didn’t mess up once. Also when we got to do the workshop they where really nice and energetic which made everyone happy and feel alive. The lighting was perfect and really went well with all of the character emotion and the rap/ poems were amazing I could never remember that much. Defo a 10/10 .” Student seeing Birds and Bees in their school

“The show was brilliant overall. All the actors acting skills were amazing it made me feel like I was one of them and it taught me a lot about different situations being experienced. The set was so different and unique from any shows I have seen which I really liked. The sound felt so real and it felt like all the things that are going in my mind have been portrayed in this performance. I would like to say a massive well done to the director and the writer of this play because you guys have done a phenomenal job with this production.” Student seeing Birds and Bees in a theatre

“The writing was incredibly clever but also accessible - it handled issues that our students are embarrassed (or prejudiced) with regard to in a way that made them think and empathise.” Teacher

“Can't praise the actors enough for their professionalism & the way they engaged with our students during Q&A. Really put them at their ease. All brilliant.” Teacher

“I th ought from the advance publicity and the research that I did before arranging the trip that the show would be good and meet our needs. In fact it exceeded our expectations in all respects. The show was brilliantly cast, performed with commitment and a tangible belief in the show's relevance and importance and was a thought- provoking and moving piece of theatre.” Teacher

We gave 39 performances, 20 in 4 theatres and 18 performances in 17 schools across the country, reaching combined audiences of 3,552. Unfortunately, our school performances were affected by the teachers strikes with several bookings penciled in not converting into confirmed dates as schools became cautious. We also noticed an appreciable difference in the ability of school budgets to afford fees and of theatres to offer guarantees that reflect the quality and value of our work.

“Working with Theatre Centre to build this dynamic new way of serving our communities, schools and audiences has brought so many benefits to both organisations.” Dan Bates, former Chief Executive, Sheffield Theatres

With both tours, the schools we toured to included a good distribution of schools that have booked our work before and new schools in target areas with Low Cultural Engagement, and a high proportion had higher levels of Pupil Premium and other metrics of deprivation.

Theatre Centre is experiencing the effect of the well-documented challenges around touring, securing sufficient levels of fees and box office income and increased levels of risk falling on to touring companies. We are part of the active conversations between touring companies, venues, Arts Council and of the stakeholders to explore these issues and to work towards more supportive and sustainable models.

Future Makers Resident Writers

In autumn 2022, we engaged three Future Makers Resident Writers, with generous support from The Garrick Trust. Residencies were an evolution of the former Writer’s Fellowship programme that saw

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Theatre Centre commission Charlie Josephine and Ryan Calais Cameron. Writer Residencies are designed to provide writers with artistic and dramaturgical support, access to Theatre Centre’s networks and resources and a sense of community during what is often a very solitary writing process. Embedding the writers into Future Makers activities is key experience as well as offering mentoring time, gaining experience and skills around creative collaboration, and developing skills in making work and writing with young people, an area where there are few opportunities to develop specialist skills.

Out three writers were Mohamed-Zain Dada, Lettie Precious and Katie Redford. Writers worked alongside Future Makers for several months with no pressure to write a finished piece. Towards the end of the Residencies, they each pitched a treatment and from these we commissioned Katie Redford to write Wish You Weren’t Here for our spring 2024 tour in co-production with Sheffield Theatres; Mohamed Zain-Dada to write Dizzy for our spring 2025 co-production and we are aiming to commission Lettie Precious for another project in 2024/25.

Future Makers (year-round creative activity for young people, teachers and artists)

Season 7 Summer 22 Recharge Festival, Feel Me R&D, Standpoint (Alliance Bernstein funded) Season 8 August 22 partnerships with Lewisham Youth Theatre and Metro Season 9 Autumn 22 incl FM Standpoint (Alliance Bernstein funded) and partnership with Metro Season 10 Spring 23 incl FM Sheffield Hub pilot (Backstage Trust funded) and FM Lewisham

Total impact

We continued to develop and roll out Future Makers, which is a whole new way of working to support young people as creative thinkers, artists, makers, active citizens and leaders. It is the core of all our work and is the key to the way we unlock our young people-centred practice in schools and in our national and local communities.

Future Makers sees us bringing young people, artists and practitioners together to develop skills, explore big ideas and to make work together, share skills, explore big ideas and empower young people as artists, creatives, active citizens and leaders. Future Makers allows us to open up creative spaces where everyone in the room is valued for what they bring. It enables us to bring the touring work together with the other stra nds of work and creates our ‘ creative circular economy ’: nothing is wasted and ideas shared in one space can be picked up, refined and developed, incorporated into other work, maybe into the new writing that we tour, and young people’s ideas, experience, q uestions and perspectives drive all of our work forward.

“All of this is a big loop, where students get the chance to speak their mind, teachers learn new techniques, and these techniques go back into the classroom for other students. This work has a positive effect on the whole student body.” Head of Drama, Newfield School, Sheffield

In 2022/23 we ran Future Makers activities year-round in our Lewisham Hub. We also piloted a new Hub in Sheffield with generous support from Backstage Trust, focusing on activity in schools and serving the city and surrounding areas. Partners included Catford Mews, Pigfoot Theatre, Metro, Lewisham Youth Theatre and National Youth Theatre.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Feedback from young people and students from Lewisham, Sheffield and Chesterfield:

“It helped me believe in myself, built up my self -confidence and it gave me an idea of what I want to do in the future”

“It was good to be able to talk about an issue that’s important to me…we don’t often get the chance to do that in our other lessons”

“On the first session I felt nervous to speak up. Now I’ve written and performed my speech in my front of everyone. I feel really proud of myself”

“I've never done anything like this before in school. It's really helped me to build confidence when sharing my opinion in front of my friends”

“It really felt like Theatre Centre cared about our opinions and what we have to say”

“I expressed the pressure I feel in this session”

“I wasn't expecting to get that deep”

“I was surprised how genuinely honest everyone was being”

“I've learnt how to listen to people better”

“Everyone was sharing their thoughts without judgement”

Feedback from Teachers

“When Theatre Centre (artists) come in, these workshops also inspire us as teachers. So in our lessons, we try do something a little bit different, a bit more creative, and a bit of a different way of working” Teacher, Newfield Secondary School, Sheffield, 2022/23

Feel Me - artist development collaborative partnership with The Paper Birds Following on from the successful partnership with The School of Hope in 2021, we continued our creative collaboration with The Paper Birds, co-running the 8-month mentoring and artist development programme that led to the making of their production Feel Me . We supported eight young artists and practitioners with a programme of creative and personal mentoring, alongside building their practical toolkit for working as an independent freelancer in the arts. Continual Personal Development training (CPD) for teachers

As per the previous year, we continued to offer regular CPD session including Directing Texts, Monologues with Young People, Helping Young People Creatively Reflect, as well as How To... sessions supporting teachers to get the most out of our touring work and prepare for working with their students on our touring work and repertoire of scripts. We also ran a number of special events in partnership with National Drama.

We continued to build and strengthen the national community of teachers through our existing networks and offered offer several ways for teachers to move across the different strands of our work.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

We have an open dialogue with teachers across the country and design our CPD offer in response to their needs, emphasising direct access to professional theatre makers, supporting peer networks and encouraging Drama teachers to view themselves as artists with their own creative practice.

Financial Review

Theatre Centre maintained its public funding subsidy arrangement with Arts Council as an NPO for the 2022/23 extension year (fifth year) of the current funding cycle and has been successful in being awarded continued funding for the 2023-26 funding cycle under the Transfer Programme.

In addition to our NPO grant, Theatre Centre’s income is supplemented by the generation of funds through touring performances and workshops, the delivery of commissioned projects for corporate organisations, fundraising from trusts and foundations, and donations from individuals. We were pleased to be able to tour live performances in both autumn 2022 and spring 2023, as the pandemic restrictions eased and audiences and schools started to book for theatre once again. Human Nurture , made in co-production with Sheffield Theatres and originally toured in spring 2023, was remounted in the autumn. A new production, Birds and Bees , also co-produced with Sheffield Theatres, toured in spring 2023 and marked the first time in a long time we have toured 2 productions in a year.

The Company had a planned deficit of £46,987 for the year (2022: deficit £70,484), as designated reserves were invested in areas of artistic and organisational development. Total incoming resources of £378,726 represented a reduction of £25,941 on the previous year (2022: £404,667) mainly due to support from the government’s Culture Recovery Fund no longer being available. Total expenditure of £425,713 was also lower than in the previous year (2022: £475,151). Following several years of intentio nally investing the Company’s reserves into creative output and further subsidising fees for schools during and post-pandemic, we are aiming to achieve balanced budgets in 2023/24 and going forward. This will include increasing fees for schools following three years of a 50% reduction in fees for state schools, though still not returning to pre-pandemic fee levels.

Reserves Policy

The Trustees have achieved their aim of maintaining a designated operational reserves fund at a level which equates to a minimum of six months of operational costs.

As of 31[st] March 2023, we had total unrestricted reserves of £150,035 (2022: £212,022) of which £150,000 has been designated as an Operational Reserve and £35 represents general funds. The Operational Reserve ensures Theatre Centre has sufficient monies put aside as per the organisation’s reserves policy. In 2021/22 and 2022/23 the Trustees had committed to investing in key organisational areas to support capacity and artistic growth, which allowed the company to be responsive to the needs of schools, audiences and artists during the Covid pandemic.

Data management

GDPR: Our GDPR systems continue to function effectively. In 2022/23, we had no data breaches and processed no requests for the removal of images or data records. GDPR is reported on each week in team meetings and at each Board meeting, and we delete stored data in accordance with our Privacy Policy.

Risk Management

Trustees have systems to identify and mitigate any major risks to which the organisation may be exposed. The Company updates its Risk Register annually, with more regular review when

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

circumstances require. This is scrutinised at Board meetings and monitored regularly by the Finance & Operations Sub-Committee (FOSC). As in previous years, FOSC has identified the following as key areas of risk:

Additionally, Trustees and the Executive are in active discussion regarding the current challenges to touring and those in the education sector and are responsive to the changing landscape. Financial and Reputational risk are highlighted as priorities for the Company. Trustees regularly considered how these risks interrelate and monitor delivery targets throughout the year, with particular reference to progress against NPO Activity and Investment Principles targets in the Funding Agreement with Arts Council. Arts Council continues to classify our risk as Minor.

Future Plans 2023/24

During 2023/24, we will:

We maintain our focus on making prudent decisions while always looking for how and where we can be most useful, valuable and impactful. The strength of the Company’s vision and values once again gives us clarity as we make plans and respond. The evolution of our Future Makers model for making work with and for young people continues into 2023/24 to ensure we meet their changing needs and to stay mission-led, drawing all of the strands of our practice together though the powerful, collaborative process.

Structure, governance and management

Theatre Centre is governed by its Memorandum and Articles of Association dated 16 March 2016. As well as being a Company Limited by Guarantee, we are registered as a charity with the Charity Commission, registration number 210262. The Charity is administered by a board of five Trustees currently elected. And is currently recruiting for new Trustees, who would be appointed by existing Trustees at a General Meeting of the Company.

Our Board has a strong track record of inclusivity and intersectional representation across age, class, disability and ethnicity. Our current Board of Trustees are: 60% female; 40% non-white UK; 40% disabled, 20% LGBTQ+. The Board has one formal sub-committee: Finance & Operations (FOSC).

The day-to-day activities of Theatre Centre are managed by the Executive Director/CEO (f/t) with the Artistic Director (f/t), plus Programme & Admin Coordinator (f/t), Future Makers Producer (f/t), Marketing Manager (f/t.6) and Finance Manager (f/t.2), plus a freelance, part-time Touring Producer. Remuneration for all staff, employed and freelance, is discussed and agreed annually by the board of trustees at the point of agreeing the annual budget for the forthcoming year.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Statement of Trustees' Responsibilities

The trustees (who are also directors of Theatre Centre for the purposes of company law) are responsible for preparing the Trustees' Annual Report 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 the year. In preparing these financial statements, the trustees are required to:

· select suitable accounting policies and then apply them consistently;

· observe the methods and principles in the Charities SORP 2015 (FRS 102);

· make judgements and estimates that are reasonable and prudent;

· state whether applicable UK 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 operation.

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the trustees are aware at the time of approving our trustees' annual report:

Small Company Exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on 7[th] December 2023 and signed on its behalf by:

Rebecca Major Chair of the Board of Trustees

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

Independent Examiner ’s Report to the Trustees of Theatre Centre Limited

I report on the accounts of the charity for the year ended 31 March 2023, which are set out on pages 14 to 24.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements: · to keep accounting records in accordance with section 386 of the Companies Act 2006; and · to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

  2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Richard Nelson FCCA

Breckman & Company Ltd

Chartered Certified Accountants

49 South Molton Street London W1K 5LH 7[th] December 2023

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The notes on pages 16 to 24 form an integral part of these financial statements. Theatre Centre Limited
(Limited by Guarantee)
Statement of Financial Activities (including Income and Expenditure Account)
For the year ended 31 March 2023
Notes
Unrestricted
Funds
Restricted
Funds
Total
2023
Unrestricted
Funds
Restricted
Funds
Total 2022
£
£
£
£
£
£
Income
Donations
3
245,265
-
245,265
289,549 -
289,549
Income from charitable activities
4
67,411
39,939
107,350
44,346
63,184
107,530
Investments
5
763
-
763
879
-
879
Other
6
25,348
-
25,348
6,709
-
6,709
Total incoming resources
338,787
39,939
378,726
341,483
63,184
404,667
Expenditure
Raising Funds: Fundraising costs
17,568
-
17,568
13,552 -
13,552
Charitable activities
7
383,206
24,939
408,145
398,415
63,184
461,599
Total expenditure
400,774
24,939
425,713
411,967
63,184
475,151
Net Movement on funds
8
(61,987)
15,000
(46,987)
(70,484)
-
(70,484)
Reconciliation of funds:
Total Funds brought forward
212,022
-
212,022
282,506
-
282,506
Total Funds carried forward
19
150,035
15,000
165,035
212,022
-
212,022

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Theatre Centre Limited (Limited by Guarantee)

Balance Sheet as at 31 March 2023

Notes
Fixed Assets
Tangible assets
13
Current Assets
Stock
14
Cash at bank and in hand
Debtors
15
Liabilities
Creditors: amounts falling due within one year
16
Net Current Assets
Total Net Assets
The funds of the charity
19
Unrestricted funds
–General Funds
–Designated Funds
Restricted funds		 2023
£
221
1,302
131,782
48,811
181,895
(17,081)
164,814
£ 165,035
35
150,000
150,035
15,000
£ 165,035		 2022
£
-
918
175,206
61,259
237,383
(25,361)
212,022
£ 212,022
52,022
160,000
212,022
-
£ 212,022

The notes on pages 16 to 24 form an integral part of these financial statements.

For the year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

· The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

· The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 7 December 2023 and signed on its behalf by:

Rebecca Major Chair of the Board of Trustees

15

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THEATRE CENTRE LIMITED Notes to the Financial Statements for the year ended 31 March 2023

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (issued in October 2019) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and – Republic of Ireland (FRS102) (effective 1 January 2019 (Charities SORP (FRS102)) and the Companies Act 2006.

The charity meets the definition of a public entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Fund accounting

Funds held by the charity are either:

c) Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

- Charitable activities

Theatre income: income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.

Project specific funding: when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

- Donated services and facilities

Donated services or facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the

1617

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

1. Accounting Policies (continued)

use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

- Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

d) Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Costs of raising funds

Costs incurred in attracting donations, and those incurred in trading activities that raise funds.

- Charitable activities

Production/project costs: costs incurred in the production and running of productions toured in the year.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

e) Fixed assets and depreciation

Individual fixed assets costing £500 or more are capitalised at cost. Depreciation/amortisation is provided at annual rates calculated to write off costs less residual value over their estimated useful economic lives as follows:

Website 33% on cost Motor vehicles 25% on cost Computer equipment 33% on cost

f) Stock

Stock is valued at the lower of cost and net realisable value.

g) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking into account any trade discounts due.

h) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short

17 18

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

1. Accounting Policies (continued)

maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

i) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

j) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

k) Leasing

Rentals payable under operating leases are charged to the income and expenditure account on a straight line basis over the lease term.

l) Pensions

The company operates a defined contribution scheme and the pension charge represents the amount payable by the company to the fund in respect of the year.

m) Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

2. Incoming resources

The total incoming resources for the year have been derived from the principal activity undertaken wholly in the UK.

3. Income from Donations
Grants
Arts Council England - National Portfolio funding
Arts Council England - Culture Recovery Fund
Donations
Sundry
4. Income from charitable activities
Theatre income (unrestricted)
Performances & workshops
Co-productions
Royalties
Other income		 2023
£
244,416
-
244,416
849
£245,265
40,609
25,000
-
1,802
£ 67,411		 2022
£
244,416
44,370
288,786
763
£ 289,549
18,468
25,000
518
360
£ 44,346

18

19

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THEATRE CENTRE LIMITED Annual Report and Accounts

For the Year Ending 31 March 2023

4. Income from charitable activities (continued)
Project specific funding (restricted)
Grants
Arts Council England–Future Festival
AllianceBernstein Ltd
Garrick Charitable Trust
Backstage Trust
The London Community Foundation–Cockayne Grants for
the Arts
5. Investment income
Bank interest
6. Other income
Theatre Tax Relief
7. Expenditure on charitable activities
Production & project costs
Production costs
Salaries
Fees
Social security costs
Pension costs
Royalties & writers’fees
Touring allowances & subsistence
Travel & transportation
Marketing
Educational resources
Future Makers programme
Support costs–pages 19-20
Governance costs–page 20
Support costs
Office overheads
Office rent & storage
Telephone & internet
Insurance
Repairs, renewals & cleaning
Computer & equipment maintenance
Depreciation of website
Depreciation of computer equipment		 2023
£
-
-
-
15,000
24,939
£ 39,939
£ 763
£ 25,348
32,880
66,452
88,271
4,243
5,344
14,800
11,074
6,552
6,726
78
17,319
253,739
149,423
4,983
£408,145
19,048
1,543
2,020
251
6,525
-
110
29,497		 2022
£
48,684
10,000
4,500
-
-
£ 63,184
£ 879
£ 6,709
21,463
64,710
112,919
2,305
3,212
8,148
19,698
5,678
10,754
9,550
65,315
323,752
131,462
6,385
£461,599
17,169
1,668
1,990
191
8,066
2,418
245
31,747

19

20

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

7. Expenditure on charitable activities (continued)

Administration costs
Salaries
Fees/services
Social security costs
Staff pension costs
Staff training & welfare
Staff recruitment
Accommodation & subsistence
Travel
Printing, postage & stationery
Conferences
Theatre tickets
Subscriptions & memberships
Sundries
Professional & financial
Bank charges
Governance costs
Board expenses
Legal & professional
Bookkeeping
Accountancy
8. Net expenditure for the year
This is stated after charging:
Depreciation of intangible fixed assets
Depreciation of tangible fixed assets
Independent Examiner's remuneration:
Independent Examination
Other services
9.
Analysis of staff costs, trustee remuneration and expenses,
management personnel
Salaries and wages
Social security costs
Pension costs		 2023
2022
£
£
93,044
80,583
8,221
2,959
6,157
2,871
4,652
4,029
491
2,718
1,199
640
1,471
524
1,164
1,964
1,286
1,212
158
140
133
243
926
1,201
866
489
119,768
99,573
158
142
£149,423
£131,462
100
345
13
13
520
1,607
4,350
4,420
£ 4,983
£ 6,385
2023
2022
£
£
-
2,418
110
245
3,750
3,750
600
670
and the cost of key
2023
2022
£
£
168,715
156,795
10,771
5,586
8,436
7,300
£187,922
£ 169,681		 2022
£
80,583
2,959
2,871
4,029
2,718
640
524
1,964
1,212
140
243
1,201
489		 2022
£
80,583
2,959
2,871
4,029
2,718
640
524
1,964
1,212
140
243
1,201
489
99,573
142
£131,462
345
13
1,607
4,420
£ 6,385
£ 169,681

21

20

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

The average number of employees, including casual and part-time staff, during the year were:

Producing & production staff
Support staff		 2023
2
3
5		 2022
2
3
5

No employee received employee benefits in excess of £60,000 during the year (2022: nil).

The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £93,382. (2022: £93,816).

No trustees received remuneration during the year (2022: £nil).

The aggregated amount reimbursed to trustees during the year was £nil (2022: £nil).

10. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £8,436 (2022 - £7,300).

11. Corporation Taxation

The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.

12. Fixed Assets – intangible assets

Cost
1 April 2022/31 March 2023
Provision for diminution in value
1 April 2022/31 March 2023		 Website
Costs
£
7,110
7,110

22

21

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2023

13. Fixed Assets – tangible assets

Office
Equipment
Cost
£
1 April 2022
16,298
Additions
-
31 March 2023
16,298
Depreciation
1 April 2022
16,298
Charge for Year
-
At 31 March 2023
16,298
Net Book Values
31 March 2023
£ -
31 March 2022
£ -
14. Stock
Stock
15. Debtors
Trade debtors
Other debtors
Prepayments & accrued income
16. Creditors: Amounts falling due within one year
Trade creditors
Accruals
Other creditors
Social security & other tax
Deferred income (note 17)
17. Deferred income
Balance at 1 April 2022
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2023		 Office
Equipment
£
16,298
-		 Motor
Vehicles
Computer
Equipment
£
£

27,700
18,804

-
331		 Total
£

62,802
331
16,298
27,700
19,135
63,133
16,298
-
27,700
18,804

-
110
62,802

110
16,298
27,700
18,914
62,912
£ -
£ -
£ 221
£ 221
£ -
£ -
£ -
£ -
2023
£
1,302
2023
£
7,830
7,723
33,258
£ 48,811
2023
£
3,120
5,679
4,115
4,169
-
£ 17,081
 2022
£
918
2022
£
13,881
3,470
43,908
£ 61,259
2022
£
5,319
10,189
4,175
5,078
600
£ 25,361
£
600
(600)
-
£ -

Deferred income represents fees received in advance.

22 23

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THEATRE CENTRE LIMITED Annual Report and Accounts

For the Year Ending 31 March 2023

18. Limited by Guarantee

The company is limited by guarantee and does not have share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2023 there were 7 members.

19. Analysis of charitable funds
Analysis of movements in unrestricted funds
General Fund
Designated funds:
Operational fund
Vehicle Replacement fund
Future Makers
Other Artistic Development
Total unrestricted funds
Analysis of movements in restricted funds
Backstage Trust (Future Makers)
Cockayne Foundation
Total restricted funds
Total Funds		 Balance
1 April
2022
Income
Expenditure
Transfers
between
Funds
Funds
31 March
2023
£
£
£
£
£

4,022
338,787
(381,274)
38,500
35
150,000
-
-
-
150,000
38,000
-
-
(38,000)
-
10,000
-
(10,000)
-
-
10,000
-
(9,500)
(500)
-
£ 212,022
£ 338,787
£ (400,774)
£ -
£ 150,035
- 24,939
(24,939)
-
-
- 15,000
-
-
15,000
£ -
£ 39,939
£ (24,939)
£ -
£ 15,000
£ 212,022
£ 378,726
£(425,713)
£ -
£ 165,035

Designated Funds

The Operational fund is to cover six months of core operational activity in the event of any unforeseen direct charitable and administrative costs, which may be incurred through the loss or reduction of a major income stream.

The Vehicle Replacement fund was created to enable to company to purchase a new/second-hand vehicle for touring theatre productions. The current touring vehicle has been fully depreciated.

The Future Makers fund was created to enable the company to design and deliver a new approach for delivery of participatory activity with children and young people.

The Other Artistic Development fund was to support the early stage development of artistic ideas or

projects that sit outside Future Makers, for example seed commission artists and for develop ideas in new media.

Restricted Funds

Backstage Trust (Future Makers). This grant supported the launching of a new Future Makers hub in Sheffield.

Cockayne Foundation. This grant is in support of the Spring 2024 production.

20. Analysis of net assets between funds

nalysis of net assets between funds
Fund balances at 31 March 2023 are
represented by:
Fixed assets
Net current assets		 General
Funds
Designated
Funds
Restricted
Funds
Total
£
£
£
£
221
-
-
221
(186)
150,000
15,000
164,814
£ 35
£150,000
£ 15,000
£ 165,035

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THEATRE CENTRE LIMITED Annual Report and Accounts

For the Year Ending 31 March 2023

21. Financial Commitments

At 31 March 2023 the company had total future commitments under non-cancellable operating leases as follows:

Due:
Within one year		 2023
2022
£
£
-
7,652

22. Related Party Transactions

During the year the company had no related party transactions that require disclosure.

24 25