UNITY THEATRE TRUST
Annual Report and Financial Statements Year Ended 31[ST] August 2024 Charity No: 210387
UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Administrative Information
Trustees
C. Gehle, Chair
D. Okoh, Vice Chair
A. Mitchell
Administration
A. Michaelides, Secretary & Treasurer (retiring) M. Kennard, Treasurer (incoming)
S. Chiles, Secretary (incoming)
K. O’Donoghue
C. Kenny
S. Adewusi
A. Snow
J. Wing
Correspondence Address
93 Hurstbourne Road, London, SE23 2AQ
Charity Number: 210387
Auditors
C Zielinski AIPFM
22 Queen Street, Newport on Tay, Fife, DD6 8EE
Bankers
The Co-operative Bank, 1 Balloon Street, Manchester, M4 4B
Cambridge & Counties Bank, Charnwood Court, 5B New Walk, Leicester LE1 GTE
Report of the Trustees for the year ended 31[st ] August 2024
The trustees present their annual report and financial statements of the charity for the year ended 31[st ] August 2024. The financial statements have been prepared in accordance with the accounting policies set out in Note 1 under Financial Statement on page 8 of this report and comply with the charity's trust deed, the Charities Act 2022 and the Statement of Recommended Practice: Accounting and Reporting by Charities (SORP) published in 2019.
19/12/2024
Secretary to the Trust
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UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Structure, governance and management
The Trust is a registered charity, number 210387, and is constituted under a trust deed dated 24 April 1962 as varied by deed dated 29 May 1964. The trust deed and rules govern the operation of the Trust and the Trustees.
The Trust does not actively fundraise and seeks to continue the charitable work desired by the original Trustees through the careful stewardship of its existing resources.
The Trust has a minimum of 4 Trustees. There are currently 8 Trustees who meet at two statutory meetings each year, and at special meetings as and when necessary.
Once appointed, Trustees continue in their role until death, retirement, or removal. New Trustees are appointed by existing Trustees following a nomination, discussion and voting process. When a vacancy occurs among the Trustees it shall be filled within three months of the occurrence of the vacancy. Nominations to fill the vacancy may be made by a member or members of the Trust.
The Trustees are supported by a Secretary and a Treasurer, or a combined Secretary/ Treasure, who administer the Trust.
Policies are reviewed annually.
Risk management
The Trustees have considered the major risks to which the charity is exposed and have reviewed those risks and established systems and procedures to manage those risks.
The Trustees consider variability of investment returns on the financial reserves committed to investment to constitute the charity's major financial risk. The is mitigated by split distribution and close monitoring of investments.
The funds available for grant funding are usually adjusted to reflect the variability of returns on investments.
The major operational risk is the extent to which projects that are funded by Trust grant can be determined to meet the definition of “public benefit”. Our project review process is focused on how this is achieved from the selected projects and our funding of them.
19/12/2024
Secretary to the Trust
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UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Objectives and activities for the public benefit
The objectives of the Unity Theatre Trust are:
“To advance the education of the public, by fostering, promoting, and increasing such interest in the art of drama and co-related arts.”
The Trustees refer to the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives and in planning future activities, and setting the grant making policy for the year.
Grant making policy
To deliver the Objects of the Trust, and achieve its objectives for the public benefit, the Trustees invite a number of applications for grant funding from interested parties a minimum of three times per year, usually four times. The number of successful applications and the amount of grants awarded depends on the amount of funding available throughout the year.
In the main, the Trust will fund drama and theatre related activities, but in addition, it will also fund projects in film, TV, video, music and dance. The Trustees reserve the right to include other areas if an application merits it, as long as the application falls within the Trust's charitable aims.
Applicants are expected to have already raised a large proportion of the project’s costs for which they are applying for a grant.
Applicants must consult the comprehensive “Guidance Notes and Conditions of Grant”, available via the website, complete their application via the online application form, and submit it in time for consideration at the advertised Trustee meetings. The grant application form asks for pertinent information for consideration by the Trustees including, but not limited to, a project synopsis, the social impact of the project, income and expenditure budget, organisation status.
How our grants delivered public benefit:
Grant funding provided meaningful support to a range of interesting and highly relevant projects aimed at stimulating public engagement across a range of subjects including culture, inclusion, diversity, access and mental health, with the public having been introduced to new perspectives and understanding of issues raised in the projects.
19/12/2024
Secretary to the Trust
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UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
A review of our achievements and performance
Since 1999, the Trust has distributed over £708,000 in funding to successful applications.
This year the Trust funded 62 projects that engaged and exposed the public to a variety of drama and co-related arts subjects. Some of the project titles and reports were:
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Creating a National Youth Music Theatre Wales
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Tickets for Tower Hamlet's School Children
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Pilot Queer Futures Dev Programme for LGBTIA+Artists
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The Gingerbread Witch BSL Workshops
-
Curtain Up!
-
Black Swans - exploring AI & healthcare…
“Performing at the Omnibus Theatre provided us with an incredible opportunity to expand our reach by engaging local audiences through our in-person activities. Additionally, we commissioned and published an essay on AI in caregiving, complemented by a podcast featuring insights from the playwright and translator, further enriching our project’s reach.
We’re grateful for Unity Theatre Trust's support which undoubtedly helped us in our mission of amplifying underrepresented voices and fostering inclusivity and industry growth.”
“Really interested in this subject and the play and its performance did not disappoint. Highlights many issues regarding care, sibling and family responsibilities, the increasing use of AI etc.” (Audience feedback).“Thank you so much for being so inclusive! It allowed us to bring so many different people together.” (Participating performers).
Monitoring achievement
Grant recipients are expected to provide progress updates as they deliver their project and must complete a final report on the project that has been funded by the Trust once it has concluded. Detailed accounts in relation to the disbursement of the grant received must be kept and made available to the Trust for inspection. Any unused grant must be returned, unless prior permission has been given by the Trust for any other use.
Trustees must be invited to the performance of projects that have received Trust grants.
Trustees review the final reports to determine the success of the project in relation to the objectives of the Trust, and to identify potential areas of improvement in the grant awarding process.
19/12/2024
Secretary to the Trust
Page of 5 11
UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Financial Review
The Trust investments are with St. James’s Place and M&G Charibond & Charifund. Operational cash reserves are distributed across two bank accounts held at the Cooperative Bank and Cambridge & Counties Bank.
Investments with St. James’s Place performed well, offsetting those with M&G that did not. Investment asset value has increased, minimally, from FY 2023.
Cash held in bank accounts was redistributed to balance the protection amount covered by the Financial Services Compensation Scheme.
This year the Trust made grants that exceeded income by a small amount and the Trust will be looking to adjust for this across the 2024-2025 period.
Investment policy and performance
The Trustees recognise the importance of Internal financial controls in protecting the charity’s assets, including money and investments, to make informed decision, meet their legal duties and manage the charity’s resources responsibly.
The Trust’s objective and attitude to risk remains Medium. The Trustees are keen on investing ethically in balanced and medium risk funds via financial advisers, companies, and/or managers, and interest-bearing deposits where appropriate, without restricting the ability of the Charity in its main objectives.
All the Trust’s funds are Unrestricted and are used to fulfil the Trust’s Objectives as per their Deed of Variation dated May 1964.
The Trust’s investments with St. James’s Place performed well with no cause for concern. M&G Charibond performed poorly and requires monitoring in 2024-2025. While the M&G Charifund also performed poorly it was within a small margin and is not currently of concern.
Reserves policy
The policy of the Trust as regards its reserves is to aim to shield such reserves from being eroded by inflation, although this might not be always possible.
The Trust’s reserves are currently in a healthy state.
19/12/2024
Secretary to the Trust
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UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Plans for the future
The Trustees are continuing their funding policy of awarding grants to projects from organisations and individuals that meet the Trust's charitable aims.
Each year the archives held by the Trust and in supporting organisations are being added to and continue to be a useful resource to a range of individuals and organisations.
The website, unitytheatre.org.uk, provides the primary interface for exploring the history of the Trust and applying for a Trust grant, and is central to the digitalisation of the Trust and its operations. Functionality to enhance the experience of the user and the needs of the Trust and Trustees is continually under review and development.
Grant awards
The Trustees have continued their grant strategy and this year approved net grants to the value of £35,490 (last year £38,950) covering areas of theatre production and performance, theatre in education and the community, drama and music, workshops, play reading for older people and theatre and drama related events and activities.
111 applications were received in the year 2023-2024, 62 were successful. Grant amounts awarded ranged from £300 to £1,000.
19/12/2024
Secretary to the Trust
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UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Financial Statement
Note 1: Accounts are prepared on a Receipts and Payments basis as at 31 August 2024.
ACCOUNTS 2023/2024
RECEIPTS AND PAYMENTS FOR THE YEAR ENDING 31.8.24
| RECEIPTS Bank deposit interest Investment income |
£ £ 4,156.96 £ 39,199.58 |
PAYMENTS UTT Grants Computer website Administrative services Accountancy services Audit fee Trustees meeting expenses Travel expenses General expenses Theatre programmes |
£ £ 35,490.00 £ 935.00 £ 3,025.00 £ 3,850.00 £ 490.00 £ 960.58 £ 10.00 £ 178.64 £ 50.00 |
|---|---|---|---|
| Excess of payments over receipts |
£ 5,764.64 | ||
| £ 44,964.22 | £ 44,964.22 | ||
| FINANCED BY: Bank Balance 1.9.23 Transfer from Bank account |
|||
| £ 27,263.78 £ 7,843.04 |
|||
| £ 35,106.82 | |||
| Less: Bank Balance 31.8.24 |
|||
| £ 29,342.18 | |||
| £ 5,764.64 | Excess of payments over receipts |
£ 5,764.64 | |
19/12/2024
Secretary to the Trust
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UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
CAMBRIDGE & COUNTIES BANK ACCOUNT
DEPOST ACCOUNT
| Opening Balance at 1.9.23 Add: Deposits Interest to 31.8.24 |
£ 96,688.76 £ 0.00 £ 4,156.96 |
|---|---|
| £ 100,845.72 |
|
| Less: Withdrawals Closing balance at 31.8.24 |
£ 12,000.00 |
| £ 88,845.72 |
BALANCE SHEET
| ASSETS | 2024 2023 £ £ £ 379,630.00 £ 338,400.00 £ 191,413.19 £ 214,041.87 £ 481,464.23 £ 491,833.86 £ 88,845.72 £ 96,688.76 £ 29,342.18 £ 27,263.78 |
|---|---|
| 31/8/24 St James’s Place 31/8/24 M & G Charibond 31/8/24 M&G Charifund 31/8/24 Canbridge & Counties Bank 31/8/24 Co-op Bank Current Account |
|
| TOTAL | £ 1,170,695.32 £ 1,168,228.27 |
19/12/2024
Secretary to the Trust
Page of 9 11
UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
Trustees’ responsibilities in relation to the financial statements
As the Trustees, you are responsible for the preparation of financial statements for each financial year, which give a true and fair view of the Trust’s incoming resources and application of resources for the year ended. In preparing those financial statements you are required to:
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Select suitable accounting policies and then apply them consistently.
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Make judgements and estimates that are reasonable and prudent.
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State whether applicable accounting standards and statements of recommended practice have been followed, subject to any material departures disclosed and explained in the financial statements.
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Prepare the financial statements on the going concern basis.
The Trustees are responsible for keeping proper accounting records, which disclose with reasonable accuracy at any time the financial position of the Trust. You are also responsible for safeguarding the assets and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on ............................................................................
Chair of the Trust ...............................................................................................
19/12/2024
Secretary to the Trust
Page 10 of 11
UNITY THEATRE TRUST
ANNUAL REPORT FOR THE YEAR ENDED 31[ST] AUGUST 2024
19/12/2024
Secretary to the Trust
Page 11 of 11
UNITY THEATRE TRUST
ACCOUNTS 2023/2024
RECEIPTS AND PAYMENTS FOR THE YEAR ENDING 31.8.24
| RECEIPTS | £ PAYMENTS |
£ PAYMENTS |
£ |
|---|---|---|---|
| Bank deposit interest | 4,156.96 UTT Grants |
35,490. | |
| Investment income | 39,199.58 Computer website |
935. | |
| Administrative services | 3,025 | ||
| Accountancy services | 3,825 | ||
| Audit fee | 490. | ||
| Trustees meetings expenses | 960.58 | ||
| Travel expenses | 10. | ||
| General expenses | 178.64 | ||
| Theatre programmes | 50. | ||
| Excess of payments over receipts |
|||
| 5,764.64 | |||
| 44,964.22 | 44,964.22 | ||
| FINANCED BY: Bank Balance 1.9.23 Transfer from Bank account Less: Bank Balance 31.8.24 |
27,263.78 7,843.04 |
5,764.64 | |
| 35,106.82 | |||
| 29,342.18 | |||
| 5,764.64 Excess of payments over receipts |
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UNITY THEATRE TRUST
CAMBRIDGE & COUNTIES BANK ACCOUNT
DEPOSIT ACCOUNT
| BALANCE SHEET Opening Balance at 1.9.23 Add: Deposits Interest to 31.8.24 Less: Withdrawals Closing balance at 31.8.24 ASSETS |
|
|---|---|
| 31/8/24 St James’s Place 31/8/24 M & G Charibond 31/8/24 M&G Charifund 31/8/24 Canbridge & Counties Bank 31/8/24 Co-op Bank Current Account |
|
| TOTAL | 1,170,695.32 1,168,228.27 |
Page of 2 3
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of On accounts for the year end Chartty no {if any) 21a537 Set out on pages I rerx)rt to the tJustees on my examinab.on of the accounts of the above charity llhe Trusf) for the year ended31 a az Responsibllltl•s and A5 the chartty trustee5 of the Trust. you are responsible for the preparation basis of rnport of the accounts in acu)rdance vh the requirements of the Charities Act 2011 nhe A.) I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying OLrt my examination, I have followed the appliCae Directions given by the Charity Commission uNler se¢Xion 14515llbl of the A¢A. I have completed my examination. I confimi that no material matters have me to my attenth.on I l in connection wf(h the examination which gNes me cause lo believe that in, any material Independent oxaminefs statemont accourrting records were not kept in accordan wrth section 130 of the Aca or the accourts do not accc¥d wilh the accounting records I have no ¢oncems and have me a¢r055 no other matter5 in connection vthh the examinion to vthich attention should tr* drawn in order to enable proper understanding of the accounts to be 0¢he. . Please delete the the brackets rfthey do not apply. Signed: Date: Name: Releyont professlonal quallficallonlsl or body Address: '6e IER October 2018 Page3of3
CHARITY COMMISSION FOR ENGLAND AND WALES Independent examinerfs report on the accounts Section A Independent Examiner's Report Report to the trusteesl members of On accounts for the year ended Charity no (if any) 210557 Set out on pages I report to the trustees on my examination of the accounts of the above charty (Ihe Trusf) for the year ended31 Cl8 2c21 Responsibilities and As the charty trustees of the Trust, you are responsible for the preparation basis of report of the accounts in accordance vAth the requirements of the Charities Act 2011 ("the Acr). I report in respect of my examination of the Trust's accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have foll0v the applicable Directions given by the Charity Commission under section 145{5)(b) of the Act. I have completed my examination. I confimi that no material matters have come to my attention ( ) in connection with the examination which gives me ¢ause to believe that in, any material respect.. accounting remrds were not kept in accordan with section 130 of the Act or the accounts do not accord wth the accounting records Independent examiner's statement I have no concems and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached. Please delele the the brackets rfthey do not apply. Signed: Date: Name: Relevant professional qualification(sl or body (If any): A- i Address: IER October 2018