This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.
2023-03-31-accounts
| Reference and Administrative Details ofthe Company, its Trustees and Advisers |
|
| Chairman's Statement |
|
| Trustees' Report |
|
| IndependentAuditors' Report on the Financial Statements |
11-14 |
| Consolidated Statementof Financial Activities |
15 |
| Consolidated Balance Sheet |
16-17 |
| Company Balance Sheet |
18—19 |
| Consolidated StatementofCash Flows |
20 |
| Notes to the Financial Statements |
21-38 |
| Trustees |
Zeinab Badawi—Malik (resigned 29 September 2023) |
|
|
Tania Black (resigned 28 November 2022) |
|
|
Susie Boyt |
|
|
Gillian Budd |
|
|
irene Dorner |
|
|
Nese Guner |
|
|
Adam Jones |
|
|
Paul Kanareck |
|
|
Marie-Michelle Kegne Sika |
|
|
Simon Parry-Wingfield |
|
|
Sue Prevezer |
|
|
Karen Paul |
|
|
Jess Woodward—Jones (appointed 29 April 2022) |
|
| Company registered |
|
|
| number |
00707180 |
|
| Charity registered |
|
|
| number |
218506 |
|
| Registered office |
Eton Avenue |
|
|
Swiss Cottage |
|
|
London |
|
|
NW3 3EU |
|
| Company secretary |
Neil Morris |
|
| Chiefexecutive officer |
Greg Ripley—Duggan (Executive Producer & Joint Chief Executive) |
|
|
Roxana Silbert (Artistic Director & Joint Chief Executive) |
— resigned 19 December |
|
2022 |
|
| Independent auditors |
Nyman Libson Paul LLP |
|
|
Chartered Accountants |
|
|
124 Finchley Road |
|
|
London |
|
|
NW3 5J8 |
|
|
|
Unrestricted |
Restricted |
Designated |
Total |
Total |
|
|
funds |
funds |
funds |
funds |
funds |
|
|
2023 |
2023 |
2023 |
2023 |
2022 |
|
Note |
£ |
£ |
£ |
£ |
|
| Income from: |
|
|
|
|
|
|
| Donations and legacies |
3 |
2,134,914 |
|
— |
2,134,914 |
2,135,021 |
| Charitable activities |
4 |
1,682,543 |
|
— |
1,682,543 |
1,783,723 |
| Other trading activities |
|
158,243 |
|
- |
158,243 |
105,000 |
| Investments |
5 |
1,750 |
|
- |
1,750 |
127 |
| Other income |
6 |
929,517 |
|
- |
929,517 |
603,596 |
| Total income and |
|
|
|
|
|
|
| endowments |
|
4,906,967 |
|
— |
4,906,967 |
4,627,467 |
| Expenditure on: |
|
|
|
|
|
|
| Raising funds |
|
28,247 |
|
— |
28,247 |
48,661 |
| Charitable activities |
7 |
5,296,085 |
78,136 |
— |
5,374,221 |
4,212,107 |
| Total expenditure |
|
5,324,332 |
78,136 |
— |
5,402,468 |
4,260,768 |
| Net |
|
|
|
|
|
|
| (expenditure)lincome |
|
(417,365) |
(78,136) |
— |
(495,501) |
366,699 |
| Transfers between |
|
|
|
|
|
|
| funds |
18 |
542,250 |
|
(542,250) |
— |
|
| Net movement in |
|
|
|
|
|
|
| funds |
|
124,885 |
(78,136) |
(542,250) |
(495,501) |
366,699 |
| Reconciliation of |
|
|
|
|
|
|
| funds: |
|
|
|
|
|
|
Total funds brought
forward |
|
945,436 |
849,899 |
542,250 |
2,337,585 |
1,970,886 |
| Net movement in funds |
|
124,885 |
(78,136) |
(542,250) |
(495,501) |
366,699 |
| Total funds carried |
|
|
|
|
|
|
| forward |
|
1,070,321 |
771,763 |
- |
1,842,084 |
2,337,585 |
|
|
|
2023 |
|
2022 |
|
Note |
|
|
|
|
| Fixed assets |
|
|
|
|
|
| Tangible assets |
13 |
|
135,566 |
|
161,861 |
|
|
|
135,566 |
|
161,861 |
| Current assets |
|
|
|
|
|
| Stocks |
15 |
8,351 |
|
5,833 |
|
| Debtors |
16 |
1,053,701 |
|
1,020,704 |
|
| Cash at bank and in hand |
|
2,249,808 |
|
2,644,963 |
|
|
|
3,311,860 |
|
3,671,500 |
|
| Creditors due within one year |
17 |
(1,605,342) |
|
(1,495,776) |
|
| Net current assets |
|
|
1,706,518 |
|
2,175,724 |
| Total net assets |
|
|
1,842,084 |
|
2,337,585 |
| Charityfunds |
|
|
|
|
|
| Designated funds |
18 |
|
|
|
542,250 |
| Restricted funds |
18 |
|
771,763 |
|
849,899 |
| Unrestricted funds |
18 |
|
1,070,321 |
|
945,436 |
| Total funds |
|
|
1,842,084 |
|
2,337,585 |
|
|
|
2023 |
|
2022 |
|
Note |
|
|
|
|
| Fixed assets |
|
|
|
|
|
| Tangible assets |
13 |
|
135,566 |
|
161,861 |
| Investments |
14 |
|
201 |
|
201 |
|
|
|
135,767 |
|
162,062 |
| Current assets |
|
|
|
|
|
| Debtors |
16 |
553,952 |
|
508,798 |
|
| Cash at bank and in hand |
|
2,202,473 |
|
2,577,040 |
|
|
|
2,756,425 |
|
3,085,838 |
|
| Creditors due within one year |
17 |
(1,565,640) |
|
(1,425,536) |
|
| Net current assets |
|
|
1,190,785 |
|
1,660,302 |
| Total net assets |
|
|
1,326,552 |
|
1,822,364 |
| Charity funds |
|
|
|
|
|
| Designated funds |
18 |
|
|
|
542,250 |
| Restricted funds |
18 |
|
771,763 |
|
849,899 |
| Unrestricted funds |
18 |
|
554,789 |
|
430,215 |
| Total funds |
|
|
1,326,552 |
|
1,822,364 |
|
2023 |
2022 |
| Cash flows from operating activities |
|
|
| Net cash used in operating activities |
(396,905) |
156,421 |
| Cash flows from investing activities |
|
|
| Purchase of intangible assets |
|
(9,499) |
| Net cash provided byl(used in) investing activities |
|
(9,499) |
| Cash flows from financing activities |
|
|
| Interest receivable |
1,750 |
127 |
| Net cash provided by financing activities |
1,750 |
127 |
| Change in cash and cash equivalents in the year |
(395,155) |
147,049 |
| Cash and cash equivalents at the beginning of the year |
2,644,963 |
2,497,914 |
| Cash and cash equivalents at the end ofthe year |
2,249,808 |
2,644,963 |
| The notes on pages 21 to 38 form part of these financial statements |
|
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2023 |
2023 |
2022 |
|
£ |
£ |
E |
| Box office income |
1,288,913 |
1,288,913 |
1,532,167 |
| Other income |
24,386 |
24,386 |
954 |
| Programmes |
30,928 |
30,928 |
28,817 |
| Bar income |
338,316 |
338,316 |
221,785 |
|
1,682,543 |
1,682,543 |
1,783,723 |
| Total2022 |
1,783,723 |
1,783,723 |
|
| Unrestricted |
Total |
Total |
| funds |
funds |
funds |
| 2023 |
2023 |
2022 |
| £ |
|
|
| 1,750 |
1,750 |
127 |
| 127 |
127 |
|
|
Unrestricted |
Total |
Total |
|
funds |
funds |
funds |
|
2023 |
2023 |
2022 |
|
£ |
2 |
E |
| Other operating income |
- |
— |
97,156 |
| Hire income |
9,467 |
9,467 |
11,053 |
| Theatre tax relief receivable |
920,050 |
920,050 |
495,387 |
|
929,517 |
929,517 |
603,596 |
| Total2022 |
603,596 |
603,596 |
|
|
Unrestricted |
Restricted |
|
|
|
funds |
funds |
Total |
Total |
|
2023 |
2023 |
2023 |
2022 |
|
£ |
E |
E |
ii |
| Box office expenses |
4,898,281 |
78,136 |
4,976,417 |
3,933,782 |
| Governance costs |
45,532 |
- |
45,532 |
35,250 |
| Bar expenditure |
352,272 |
— |
352,272 |
243,075 |
|
5,296,085 |
78,136 |
5,374,221 |
4,212,107 |
| Total 2022 |
4,207,107 |
5,000 |
4,212,107 |
|
|
Activities |
|
|
|
|
undertaken |
Support |
Total |
Total |
|
directly |
costs |
funds |
funds |
|
2023 |
2023 |
2023 |
2022 |
|
£ |
£ |
|
£ |
| Box office expenses |
3,914,353 |
1,062,064 |
4,976,417 |
3,933,782 |
| Governance costs |
45,532 |
|
45,532 |
35,250 |
| Bar expenditure |
352,272 |
|
352,272 |
243,075 |
|
4,312,157 |
1,062,064 |
5,374,221 |
4,212,107 |
| Total 2022 |
3,399,052 |
813,055 |
4,212,107 |
|
|
Governance costs |
|
|
|
|
2023 |
2022 |
|
Auditors' remuneration |
27,000 |
25,500 |
|
Legal & professional |
4,750 |
9,750 |
| 10. |
Staffcosts |
|
|
|
Group |
Group |
Company |
Company |
|
2023 |
2022 |
2023 |
2022 |
|
E |
£ |
£ |
£ |
| Wages and salaries |
1,324,687 |
1,224,582 |
1,173,024 |
1,115,347 |
| Social security costs |
114,929 |
89,183 |
103,501 |
84,995 |
| Other pension costs |
25,345 |
25,873 |
24,273 |
24,890 |
|
1,464,961 |
1,339,638 |
1,300,798 |
1,225,232 |
|
Group |
Group |
|
2023 |
2022 |
|
No. |
No. |
| Theatre production |
6 |
7 |
| Theatre operation |
12 |
12 |
| Development & marketing |
7 |
7 |
| Education and access |
2 |
2 |
| Administration & finance |
4 |
4 |
| Front of house |
47 |
41 |
|
78 |
73 |
|
|
|
|
|
|
Group |
Group |
|
|
|
|
|
|
2023 |
2022 |
|
|
|
|
|
|
No. |
No. |
| In |
the |
band |
£60,001 |
- |
£70,000 |
4 |
4 |
|
|
Computer |
Stage and |
|
|
Fixtures and |
and office |
lighting |
|
|
fittings |
equipment |
equipment |
Total |
|
E |
E |
£ |
£ |
| Cost orvaluation |
|
|
|
|
| At 1 April 2022 |
343,161 |
173,101 |
448,636 |
964,898 |
| At 31 March 2023 |
343,161 |
173,101 |
448,636 |
964,898 |
| Depreciation |
|
|
|
|
| At 1 April 2022 |
341,495 |
163,601 |
297,941 |
803,037 |
| Charge for the year |
833 |
3,167 |
22,295 |
26,295 |
| At 31 March 2023 |
342,328 |
166,768 |
320,236 |
829,332 |
| Net book value |
|
|
|
|
| At 31 March 2023 |
833 |
6,333 |
128,400 |
135,566 |
| At 31 March 2022 |
1,666 |
9,500 |
150,695 |
161,861 |
|
|
Computer |
Stage and |
|
|
Fixtures and |
and office |
lighting |
|
|
fittings |
equipment |
equipment |
Total |
|
E |
£ |
£ |
|
| Cost orvaluation |
|
|
|
|
| At 1 April 2022 |
343,161 |
173,101 |
448,636 |
964,898 |
| At 31 March 2023 |
343,161 |
173,101 |
448,636 |
964,898 |
| Depreciation |
|
|
|
|
| At 1 April 2022 |
341,495 |
163,601 |
297,941 |
803,037 |
| Charge forthe year |
833 |
3,167 |
22,295 |
26,295 |
| At 31 March 2023 |
342,328 |
166,768 |
320,236 |
829,332 |
| Net book value |
|
|
|
|
| At 31 March 2023 |
833 |
6,333 |
128,400 |
135,566 |
| At 31 March 2022 |
1,666 |
9,500 |
150,695 |
161,861 |
|
|
|
|
Investments |
|
|
|
|
in subsidiary |
|
|
|
|
companies |
| Company |
|
|
|
2 |
| Cost or valuation |
|
|
|
|
| At 1 April 2022 |
|
|
|
201 |
| At 31 March 2023 |
|
|
|
201 |
| Net book value |
|
|
|
|
| At 31 March 2023 |
|
|
|
201 |
| At 31 March 2022 |
|
|
|
201 |
| Principal subsidiaries |
|
|
|
|
| The following were subsidiary undertakings ofthe company: |
|
|
|
|
| Names |
Country |
Principal activity |
|
Holding |
| Hampstead Theatre Enterprises |
England |
Bar |
facilities and |
100% |
| Limited |
|
commercial lettings of |
|
|
|
|
theatre |
|
|
| Hampstead Theatre Productions |
England |
Production of |
|
100% |
| Limited |
|
theatrical productions |
|
|
| Hampstead Theatre Ventures |
England |
Production of |
|
100% |
| Limited |
|
theatrical productions |
|
|
| The financial results ofthe subsidiaries for the year were: |
|
|
|
|
| Names |
|
Income |
Expenditure |
Net assets |
|
|
£ |
E |
E |
| Hampstead Theatre Enterprises |
Limited |
348,606 |
(348,606) |
9,220 |
| Hampstead Theatre Productions |
Limited |
158,243 |
(158,243) |
9,860 |
| Hampstead Theatre Ventures Limited |
|
2,399,014 |
(3,208,529) |
100 |
| Group |
Group |
| 2023 |
2022 |
| 8,351 |
5,833 |
|
Group |
Group |
Company |
Company |
|
2023 |
2022 |
2023 |
2022 |
|
|
|
£ |
E |
| Due within one year |
|
|
|
|
| Trade debtors |
1,000 |
1,525 |
1,000 |
1,525 |
| Amounts owed by group undertakings |
- |
|
309,767 |
146,979 |
| Other debtors |
855,542 |
713,972 |
46,026 |
55,087 |
| Prepayments and accrued income |
197,159 |
305,207 |
197,159 |
305,207 |
|
1,053,701 |
1,020,704 |
553,952 |
508,798 |
|
Group |
Group |
Company |
Company |
|
2023 |
2022 |
2023 |
2022 |
|
E |
£ |
£ |
£ |
| Trade creditors |
364,417 |
303,807 |
337,612 |
288,880 |
| Amounts owed to group undertakings |
- |
|
124,292 |
|
| Other taxation and social security |
54,151 |
66,318 |
54,151 |
66,318 |
| Other creditors |
313,714 |
443,474 |
268,380 |
398,140 |
| Accruals and deferred income |
873,060 |
682,177 |
781,205 |
672,198 |
|
1,605,342 |
1,495,776 |
1,565,640 |
1,425,536 |
|
|
|
|
|
Balance at |
|
Balance at 1 |
|
|
Transfers |
31 March |
|
April 2022 |
income |
Expenditure |
in/out |
2023 |
|
£ |
£ |
£ |
£ |
£ |
| Unrestricted funds |
|
|
|
|
|
| General funds |
945,436 |
4,906,967 |
(5,324,332) |
542,250 |
1,070,321 |
| Designated funds |
|
|
|
|
|
| Designated fund — 2020 fund |
542,250 |
- |
- |
(542,250) |
- |
| Restricted funds |
|
|
|
|
|
| The Next Decade Fund |
849,899 |
- |
(78,136) |
- |
771,763 |
| Totaloffunds |
2,337,585 |
4,906,967 |
(5,402,468) |
— |
1,842,084 |
|
Statement offunds - prioryear |
|
|
|
|
|
|
|
|
|
|
|
Balance at |
|
|
Balance at |
|
|
Transfers |
31 March |
|
|
1 April 2021 |
Income |
Expenditure |
in/out |
2022 |
|
|
£ |
|
£ |
£ |
£ |
|
Unrestricted funds |
|
|
|
|
|
|
General funds |
625,738 |
4,575,466 |
(4,255,768) |
|
945,436 |
|
Designated funds |
|
|
|
|
|
|
Designated fund — 2020 fund |
491,250 |
51,000 |
|
|
542,250 |
|
Restricted funds |
|
|
|
|
|
|
The Next Decade Fund |
853,898 |
1,001 |
(5,000) |
|
849,899 |
|
Total offunds |
1,970,886 |
4,627,467 |
(4,260,768) |
|
2,337,585 |
| 19. |
Analysis of net assets between |
funds |
|
|
|
|
|
Analysis of netassets between |
funds - current |
year |
|
|
|
|
Unrestricted |
Restricted |
Total |
|
funds |
funds |
funds |
|
2023 |
2023 |
2023 |
|
£ |
£ |
E |
| Tangible fixed assets |
135,566 |
|
135,566 |
| Current assets |
2,540,097 |
771,763 |
3,311,860 |
| Creditors due within one year |
(1,605,342) |
|
(1,605,342) |
| Total |
1,070,321 |
771,763 |
1,842,084 |
|
Unrestricted |
Restricted |
Endowment |
Total |
|
funds |
funds |
funds |
funds |
|
2022 |
2022 |
2022 |
2022 |
|
£ |
£ |
£ |
E |
| Tangible fixed assets |
161,861 |
|
|
161,861 |
| Current assets |
3,671,500 |
|
|
3,671,500 |
| Creditors due within one year |
(1,495,776) |
|
|
(1,495,776) |
| Total |
2,337,585 |
|
|
2,337,585 |
|
|
|
|
|
|
|
|
|
Group |
Group |
|
|
|
|
|
|
|
|
|
2023 |
2022 |
|
|
|
|
|
|
|
|
|
£ |
|
Net
income/expenditure |
for |
the |
year |
(as |
per |
Statement |
of |
Financial |
|
|
| Activities) |
|
|
|
|
|
|
|
|
(495,501) |
366,699 |
| Adjustments for: |
|
|
|
|
|
|
|
|
|
|
| Depreciation charges |
|
|
|
|
|
|
|
|
26,295 |
35,353 |
| Dividends, interests and |
rents |
from |
investments |
|
|
|
|
|
(1,750) |
(127) |
| Increase in stocks |
|
|
|
|
|
|
|
|
(2,518) |
(2,327) |
| Increase in debtors |
|
|
|
|
|
|
|
|
(32,997) |
(525,812) |
| Increase in creditors |
|
|
|
|
|
|
|
|
109,566 |
456,966 |
| Net cash provided byl(used |
|
in) operating activities |
|
|
|
|
|
|
(396,905) |
331,752 |
|
|
Group |
Group |
|
|
2023 |
2022 |
|
|
£ |
£ |
| Cash |
in hand |
2,249,808 |
2,644,963 |
| Total |
cash and cash equivalents |
2,249,808 |
2,644,963 |
|
|
|
|
|
|
At 1 April |
|
At 31 March |
|
|
|
|
|
|
2022 |
Cash flows |
2023 |
|
|
|
|
|
|
E |
2 |
£ |
| Cash |
at |
bank |
and |
in |
hand |
2,644,963 |
(395,155) |
2,249,808 |
|
|
|
|
|
|
2,644,963 |
(395,155) |
2,249,808 |
At 31
March 2023 the Group and the company had com
payments under non-cancellable operating leases as follows: |
mitments to make future min |
imum lease |
|
Group |
Group |
|
2023 |
2022 |
|
£ |
£ |
| Not later than 1 year |
56,000 |
56,000 |
| Later than 1 year and not later than 5 years |
214,667 |
224,000 |
| Later than 5 years |
- |
46,667 |
|
270,667 |
326,667 |