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2021-07-31-accounts

Page
Chairman's
Report
Report ofthe Trustees 2to 10
Report ofthe Independent Auditors 11to 13
Statement of Financial Activities 14
Balance Sheet 15
Cash Flow Statement 16
Notes to the Cash Flow Statement 17
Notes to the Financial Statements 18to 28

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF UNICORN THEATRE LONDON LTO In the light of the kno￿edge 3rKJ undrstanding of the ch3rit3ble company and its eThvironment obtained in the course of the audii, we have net identrfied materlal mlsstatements in the directors, rewrt. We have nothing toreport in respect of the follDwin8 rnatters in relationtowhich the Companies Att 2006 requifes us to rewrttoyou èdequate accounting record5 have not been kept, or retums adequate for our èudit have rK>t been received from branthes not visited by us.. or the financial statements are not In 8greementwith the accovntinE recordsand returns,. or certain dis£losurÈs of direttor5' rernunerallon 5peofied by law are not made., or we have not re￿ived all the information and explÈnations we fequire for our audit. or the trustees werè n¢X Èntitled to prep3re the financial statements in accordance with the small corr¥)anies' re8ime and tèke advantage of the srnall companie5, exemptions in prepann8 the directors, report ènd from the requirement to prepare a strategic report. As explained more fully in tiustee5' responsibilities statement Iset out On Pa8e 101, thÈ triJ5tee5 (who are also the dirett0￿ Of the charitable cornpany for the purposes of company lawl ère responsible lor the preparion ol the financial statemÈnt5 and for being satisfied thatthevEive a true and fair view. arwj for such internal iontrDI a5 the trustee5 determine is necessary to enhble the preparation of financial statements that arefree from rnaterial mi5St3tement, whether due tofratsd orèrror. In preparing the fin3noal stateryEnts, the trustees are responsible for a55e55in8 the charitable companrfs ability to iontinue as 80ing concem, di5closin& as applicable, matters related io gting ton¢Èrn ènd using the going concem bas￿ of èctounting unle55 the trustees either intend to liquidate the charitable cornpanyor to cease operation5, orhave no realistit alternative Iwtto do 50. L￿Sr￿￿￿5IbIlths1Orthe athofthefiMNklstatem Our objectives are to obtain rea50nable assurance about whether the financial staternents a5 a whole aye free from material mi5Staternent, whether due tofraud orerror, andto issue an auditor's reportthat irKludes our opinion. Reasonable a55vrance is B high level of assurance, but is not è guaiantÈe that an audit wnducled in accordan￿ with ISAS IUKI will a￿ayS detect a material misstatement when it exists. Misstatements Call arise from fraud or error 8nd are considered material rf, individually or in the a88regate, thÈy could reèsorbably be expected to influence the economic deC￿lOn5 of usÈrs taken on the b3515 of thesE financi31 statement5. Irregularities, intludlng fraud, are instances of non-compliance with laws and rÈgulatioThs. We de51En prO￿dUreS in linE with our re5pon5ibilitie5. OLrtlined above, ta detect rriterial misstatewÉnts in respect of irreguladties, induding fraud. The speclflc procedures lorthi5 engagernent and the extent to whlch these are capajle of detecting irreEu13ritie5, includin8 fraud is detailed below.. Enguiry of management and those char8ed with Éovernantr around aaual and potential litl8ion and claims as well as artual, suspected and È11È8ed fraud,. RÈviÈwSng minutÈ5 of meeting5 of those tharged with ¢ovemance,' A55e55in8 the extent of compliance wrth the laws and regulations considered to have a dirert material effect On thE linancial statements or rhe operations of the company through enquiry and insppction,. Reviewn6 financial stètement disclDsures and te5tingtO 5UPPOrting documentation to assesstompliance with applicable la￿ and regulatirffis.. Performin8 audSt w)rk overthe risk of mana8etnent bias ond override of controls, includlng testin8 of journal entries and other adju5trnents for appropri3tenes5. evaluatlng the business rationale of si8nlficant transattion5 Outside the normal course of busine55 and ￿vIewIng accounting estimatesfor inditators of potential bias. Because of the inherent limitations of an budit, there 15 a risk that we will not detert 311 irregular(ties. intluding those leading to material misstatement in the financial statement5 or non-compliance with regulation. This risk increase5 the more that compliante with a law or regulstlOTr 15 removed from the events and transattions refleded in the finhncial 5tatemen*s, as we will be less likelyto become aware of instances of non-compliance. The risk is also greater re8ardln8 irregularities occurrirE dLFe to fraud rather thèn èrror, as fr￿d involves Intentional concealmenL forgery, colluslon. omission or misreprtsentstion. A further descnption of (￿r re5ponsibi1it1Ès is 3vailable on the Financial Reportin8 Cwnol's website at.. https..Ilwww.frt.org.ukJOur-WofklAuditlAudit-and.assuran￿I5taThdèrds-ènd-ÈUIdanc&15Iandards-and-gU1danCe-for-aUdrt0r$/AudItor5- responsibilities-for-auditlDe5CriPtiOTh-of-auditors-responsibilities-for-audit.aspx. This dexription ftsrms p4rt ol our audiiorfs report. Page 12

2021 2020
Unrestricted Restricted Total funds Total funds
fund funds
Notes f f f
INCOMING
RESOURCES
Incoming resources from generated funds
Voluntary
income		 1,780,899 123,607 1,904,506 1,970,279
Investment
income		 445 445 1,037
Incoming resources from charitable activities
Theatre Productions 67,995 67,995 654,748
Education 120 120 6,000
Management
fees charged to		 UCC 20,000 20,000 20,000
Other 245,538 245,538 188,591
Total incoming resources 2,114,997 123,607 2,238,604 2,840,655
RESOURCES EXPENDED
Costs ofgenerating funds
Costs ofgenerating voluntary income 149,162 149,162 136,637
Charitable
activities
Theatre Productions 1,373,903 170,396 1,544,299 2,180,662
Education 83,349 69,284 152,633 142,781
Total resources expended 1,606,414 239,680 1,846,094 2,460,080
NET INCOMING
RESOURCES		 508,583 t116,073) 392,510 380,575
RECONCILIATION
OF FUNDS		 18
Total funds brought forward 769,066 182,258 951,324 570,749
TOTAL FUNDS CARRIED FORWARD 1,277,949 66,185 1,343,834 931,324

2021 2020
Notes E f
FIXEDASSETS
Tangible assets 14 46,319
CURRENT ASSETS
Stocks 7,168 9,812
Debtors 15 259,088 454,459
Cash at bank 1,369,973 875,282
1,636,229 1,339,553
CREDITORS
Amounts
falling due within one year		 16 (338,714) (388,229)
NET CURRENT ASSETS 1,297,515 951,324
TOTAL ASSETS LESSCURRENT LIABILITIES 1,343,834 951,324
NET ASSETS 1,343,834 951,324
FUNDS 18
Unrestricted
funds		 957,649 449,066
Designated
funds		 320,000 320,000
Restricted funds 66,185 182,258
TOTAL FUNDS 1,343,834 951,324

2021 2020
Notes E f
Net cash inflow from operating activities 1 541,813 594,818
Capital expenditure
and financial investment		 (47,122)
Increase
in cash in the period		 494,691 594,818
Reconciliation
of net cash flow		 to movement in net
debt
Increase
in cash in the period		 494,691 594,818
Change
in net debt resulting
from cash flows		 494,691 594,818
Movement
in net debt in the period		 494,691 594,818
Net debt at 1August 875,282 280,464
Net debt at 31July 1,369,973 875,282

2021 2020
f f
Net incoming
resources		 392,510 380,575
Depreciation
charges		 803 3,103
Decrease in stocks 2,644 4,190
Decrease in debtors 195,371 124,528
(Decrease)/increase in creditors (49,515) 82,422
Net cash inflow from operating activities 541,813 594,818
ANALYSIS OF CASH FLOWS FOR HEADINGS NETTED IN THE CASH FLOW STATEMENT
2021 2020
f f
Capital expenditure and financial investment
Purchase oftangible fixed assets (47,122)
Net cash outflow for capital expenditure and financial investment (47,122)
ANALYSIS OF CHANGES IN NET DEBT
At 1/8/20 Cash flow At 31/7/21
f f f
Net cash:
Cash at bank 875,282 494,691 1,369,973
Total 819,282 494,491 1,369,973

Depreciation is calculated to write offthe costs ofthe fixed asset by equal instalments as follows, all straight line:
Theatre equipment 12%to 20%
Furniture
and equipment		 10%to 33.3%
ITequipment 33.3%
Production
equipment		 25%

2021 2020
E f
Donations 245,881 642,404
Grants 1,658,625 1,327,875
1,904,506 1,970,279

2021 2020
E
Unrestricted grants:
Arts Council England —NPO Grant 1,327,875 1,327,875
Arts Council England —Culture Recovery Fund 330,750
ACE applied an inflationary increase of 1.84%to the grant awarded to the theatre in 2020-2021.
INVESTMENT INCOME
2021 2020
E E
Investments 445 1,037
INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
2021 2020
Activity E E
Unicorn
Productions		 Theatre Productions 31,476 482,447
Ancillary trading Theatre Productions 16,177 59,329
Theatre Tax Relief Theatre Productions 20,342 112,972
Education
Projects		 Education 120 6,000
Management fees charged to UCC Other 20,000 20,000
Other income Other income 7,355
Job Retention
Scheme		 Other income 245,538 181,236
333,653 869,339

2021 2020
f f
Profile raising 4,825 5,928
Support costs 144,337 130,709
149,162 136,637
CHARITABLE ACTIVITIES COSTS
2021 2020
f
Theatre
roductions
Production
costs		 228,028 214,614
Production
wages, actors, stage management		 and technical staff 156,991 474,390
Fees and co-productions 37,290 118,428
Marketing 50,772 184,089
Venue rental 236,000 236,000
Writers 13,253 62,780
Research &development 21,211 25,471
Community
projects		 30,527 16,615
Access work 1,875
Support costs (including non-direct salaries) 770,227 846,400
1,544,299 2,180,662
Education
Education projects 35,325 16,186
Support costs (including non-direct salaries) 117,308 126,595
152,633 142,781
SUPPORT COSTS
2021 2020
f f
Salaries 832,759 890,880
Admin 8 overheads 75,405 69,591
Boxoffice charges 11,381 21,465
Front of House 10,370 6,540
Cafe &Merchandise 2,559 27,945
Professional fees 36,073 12,682
ITcosts 20,758 21,489
Depreciation 803 3,103
Irrecoverable
VAT		 41,764 50,009
1,031,872 1,103,704

2021 2020
E E
Depreciation - owned assets 803 3,103
Other pension costs 16,694 17,526
Auditors'
remuneration		 -audit 7,350 7,150

2021 2020
E E
Wages and salaries 872,069 973,373
Social security costs 59,899 73,273
Other pension costs 16,694 17,526
948,662 1,064,172
Staff costs are split:
Support costs —Salaries 832,759 890,880
Charitable activities 115,903 173,292
948,662 1,064,172
2021 2020
Production 5 7
Communications 3 3
Front of House 6 6
Boxoffice 2 3
Development 3 3
Artistic and Admin 8 11
27 33

14. TANGIBLE FIXED ASSE TS
Plant and
machinery
etc
E
COST
At 1August 2020 281,029
Additions 47,122
At 31July 2021 328,151
DEPRECIATION
At 1August 2020 281,029
Charge for year 803
At 31July 2021 281,832
NET BOOK VALUE
At 31July 2021 46,319
At 31July 2020
15. DEBTORS:AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
E E
Trade debtors 12,288 4,700
Amounts
owed by participating		 interests 195,382 205,727
Other debtors 51,418 244,032
259,088 454,459
16. CREDITORS: AMOUNTS
FALLING DUE WITHIN ONE YEAR
2021 2020
E E
Trade creditors 46,745 19,379
Taxation and social security 16,935 17,942
Other creditors 43,152 25,536
Accruals and deferred income 231,882 325,372
M8,714 388,229
16A. DEFERRED INCOME
2021 2020
E E
Balance b/fwd at 1August 292,877 100,925
Income released
in the		 year (201,377) (100,925)
Income deferred in the year 81,149 292,877
Balance c/fwd at 31July 2021 172,649 292,877

2021 2020
Unrestricted Designated Restricted Total funds Total funds
fund funds funds
E E E E
Fixed assets 46,319 46,319
Current assets 1,250,044 320,000 66,185 1,636,229 1,339,553
Current
liabilities		 (338,714) (338,714) (388,229)
957,649 320,000 66,185 1,343,834 951,324
18. MOVEMENT
IN		 FUNDS
Net movement
in funds
At 1/8/20 Transfers At 31/7/21
E E E
Unrestricted
fund
General fund 449,066 508,583 957,649
Designated
fund		 320,000 320,000
769,066 508,583 1,277,649
Restricted funds
Theatre productions 10,102 (8,256) 1,846
Community
&Access		 14,800 (12,577) 2 223
Digital 155,356 (97,570) 57,786
Fundraising
costs		 2,000 (2,000)
Usher 4,330 4,330
182,258 (116,073) 66,185
951,324 392,510 1,343,834
Net movement in funds, included in the above are as follows:
Incoming Resources Movement
in
resources expended funds
E E
Unrestricted
funds
General fund 2,114,997 (1,606,414) 508,583
Restricted funds
Theatre productions 41,500 (49,756) (8,256)
Schools 5Engagement Programme 56,707 (69,284) (12,577)
Digital (97,570) (97,570)
Fundraising
costs		 18,400 (20,400) (2,000)
Usher 7,000 (2,670) 4,330
Total Restricted 123,607 (239,680) (116,073)
TOTAL FUNDS 2,238,604 (1,846,094) 392,510

Net movement
in funds
At 1/8/19 Transfers At 31/7/20
f f f
Unrestricted fund
General fund 545,749 223,317 (320,000) 449,066
Designated fund 320,000 320,000
545,749 223,317 769,066
Restricted funds
Theatre productions 10,102 10,102
Education programmes 25,000 (25,000)
Community &Access 14,800 14,800
Digital 155,356 155,356
Fundra ising costs 2,000 2,000
25,000 157,258 182,258
570,749 380,575 951,324

Incoming Incoming Resources Movement
in		 Movement
in		 Movement
in
resources
f		 expended
f		 funds
f
Unrestricted
funds
General fund 2,553,855 (2,330,538) 223,317
Restricted funds
Theatre productions 18,000 (7,898) 10,102
Education
programmes		 70,000 (95,000) (25,000)
Community
&Access		 14,800 14,800
Digital 178,000 (22,644) 155,356
Fundraising
costs		 6,000 (4,000) 2,000
Total Restricted 286,800 (129,542) 157,258
2,840,655 (2,460,080) 380,575
RELATED PARTY DISCLOSURES
At 31 July 2021 two trustees of Unicorn Theatre London Ltd were also trustees
of		 Unicorn Children's Centre, a closely
connected
charity.
Unicorn
Children's		 Centre owns the lease to the land on which the Unicorn Theatre sits. Unicorn
Children's		 Centre
has
licensed
Unicorn Theatre London		 Ltd tooccupy this building according to a set ofarrangements between the two companies.
During
2020/21		 Unicorn Theatre London Ltd paid f236,000 (2019/20: f236,000) to Unicorn
Children's		 Centre
as a
contribution
towards the		 building's running costs.
Unicorn
Children's		 Centre promotes the education of children through the presentation of visiting
company		 shows for
children.
Unicorn		 Theatre London Ltd operates the box office on behalf of Unicorn Children's Centre for UK visiting company
productions.
Unicorn
Children's		 Centre does not have any employees, but all Unicorn Theatre
London		 Ltd employees are contracted
to
work in the best interests of both companies.
OPERATING
LEASE COMMITMENTS
The charity hold total commitments under an operating lease as follows:
2021 2020
f f
Expiry date:
Within one year 1,093 1,057
Between one and five years 772 1,235
1,865 2,292

Unrestricted Restricted Total funds
fund funds
E
INCOMING
RESOURCES
Incoming resources from generated funds
Voluntary
income		 1,683,479 286,800 1,970,279
Investment
income		 1,037 1,037
Incoming resources from charitable activities
Theatre Productions 654,748 654,748
Education 6,000 6,000
Management
fees charged to		 UCC 20,000 20,000
Other 188,591 188,591
Total incoming resources 2,553,855 286,800 2,840,655
RESOURCES EXPENDED
Cost ofgenerating funds
Costs ofgenerating voluntary income 136,637 136,637
Charitable
activities
Theatre Productions 2,106,120 74,542 2,180,662
Education 87,781 55,000 142,781
Total resources expended 2,330,538 129,542 2,460,080
NET INCOMING
RESOURCES		 223,317 157,258 380,575
RECONCILIATION
OF FUNDS
Total funds brought forward 545,749 25,000 570,749
TOTAL FUNDS CARRIED FORWARD 769,066 182,258 951,324