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|||Page|
|---|---|---|
|Chairman's<br>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|





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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
UNICORN THEATRE LONDON LTO
In the light of the kno￿edge 3rKJ und*rstanding 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 prepar*ion 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 litl8*ion 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

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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||Unrestricted|Restricted|Total funds|Total funds|
||||||fund|funds|||
|||||Notes|f|f||f|
|INCOMING<br>RESOURCES|||||||||
|Incoming resources|from generated||funds||||||
|Voluntary<br>income|||||1,780,899|123,607|1,904,506|1,970,279|
|Investment<br>income|||||445||445|1,037|
|Incoming resources|from charitable||activities||||||
|Theatre Productions|||||67,995||67,995|654,748|
|Education|||||120||120|6,000|
|Management<br>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<br>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<br>RESOURCES|||||508,583|t116,073)|392,510|380,575|
|RECONCILIATION<br>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|





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|||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<br>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<br>funds||957,649|449,066|
|Designated<br>funds||320,000|320,000|
|Restricted funds||66,185|182,258|
|TOTAL FUNDS||1,343,834|951,324|





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|||||2021|2020|
|---|---|---|---|---|---|
||||Notes|E|f|
|Net cash inflow from operating|activities||1|541,813|594,818|
|Capital expenditure<br>and financial investment||||(47,122)||
|Increase<br>in cash in the period||||494,691|594,818|
|Reconciliation<br>of net cash flow|to movement|in net||||
|debt||||||
|Increase<br>in cash in the period||||494,691|594,818|
|Change<br>in net debt resulting<br>from cash flows||||494,691|594,818|
|Movement<br>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|





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||||||||2021|2020|
|---|---|---|---|---|---|---|---|---|
||||||||f|f|
|Net incoming<br>resources|||||||392,510|380,575|
|Depreciation<br>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|





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





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





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||||||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<br>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<br>Projects||||Education|120|6,000|
|Management|fees charged|to UCC||Other|20,000|20,000|
|Other income||||Other income||7,355|
|Job Retention<br>Scheme||||Other income|245,538|181,236|
||||||333,653|869,339|



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|||||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<br>roductions||||||
|Production<br>costs||||228,028|214,614|
|Production<br>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<br>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<br>VAT||||41,764|50,009|
|||||1,031,872|1,103,704|





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



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|||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|





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## 

|14.|TANGIBLE FIXED|ASSE|TS||||
|---|---|---|---|---|---|---|
|||||||Plant and|
|||||||machinery<br>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<br>owed by participating|||interests|195,382|205,727|
||Other debtors||||51,418|244,032|
||||||259,088|454,459|
|16.|CREDITORS: AMOUNTS<br>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<br>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|





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||||||||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<br>liabilities|||(338,714)|||(338,714)|(388,229)|
|||||957,649|320,000|66,185|1,343,834|951,324|
|18.|MOVEMENT<br>IN|FUNDS|||||||
|||||||Net movement|||
|||||||in funds|||
||||||At 1/8/20||Transfers|At 31/7/21|
||||||E||E|E|
||Unrestricted<br>fund||||||||
||General fund||||449,066|508,583||957,649|
||Designated<br>fund||||320,000|||320,000|
||||||769,066|508,583||1,277,649|
||Restricted funds||||||||
||Theatre productions||||10,102|(8,256)||1,846|
||Community<br>&Access||||14,800|(12,577)||2 223|
||Digital||||155,356|(97,570)||57,786|
||Fundraising<br>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<br>in|
|||||||resources|expended|funds|
|||||||E||E|
||Unrestricted<br>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<br>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|





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|||||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|





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|||||||||||||||Incoming|Incoming||||Resources||Movement<br>in|Movement<br>in|Movement<br>in|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|||||||||||||||resources<br>f|||||expended<br>f||||funds<br>f|
|Unrestricted<br>funds||||||||||||||||||||||||
|General fund||||||||||||||2,553,855||||(2,330,538)|||||223,317|
|Restricted funds||||||||||||||||||||||||
|Theatre productions|||||||||||||||18,000||||(7,898)||||10,102|
|Education<br>programmes|||||||||||||||70,000||||(95,000)||||(25,000)|
|Community<br>&Access|||||||||||||||14,800||||||||14,800|
|Digital|||||||||||||||178,000||||(22,644)||||155,356|
|Fundraising<br>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<br>of|||Unicorn|||Children's|Centre,|||a closely|
|connected<br>charity.||||||||||||||||||||||||
|Unicorn<br>Children's|Centre|owns||the||lease|to the||land|on|which|the|Unicorn||Theatre|sits.||Unicorn<br>Children's||||Centre<br>has||
|licensed<br>Unicorn Theatre London||||Ltd||tooccupy this|||building||according to a set||||ofarrangements||||between the two|||companies.||
|During<br>2020/21|Unicorn|Theatre|||London||Ltd|paid f236,000||||(2019/20: f236,000)||||to|Unicorn<br>Children's||||Centre<br>as a|||
|contribution<br>towards the||building's|||running||costs.|||||||||||||||||
|Unicorn<br>Children's|Centre|promotes||||the|education||of|children||through||the|presentation|||of visiting<br>company|||||shows for|
|children.<br>Unicorn|Theatre|London|||Ltd operates|||the|box office on|||behalf of Unicorn Children's||||||Centre for UK visiting|||||company|
|productions.||||||||||||||||||||||||
|Unicorn<br>Children's|Centre|does|not|||have any employees,|||||but all|Unicorn||Theatre<br>London|||Ltd||employees|are|contracted<br>to|||
|work in the best interests||of both||companies.||||||||||||||||||||
|OPERATING<br>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|





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|||||Unrestricted|Restricted|Total funds|
|---|---|---|---|---|---|---|
|||||fund|funds||
||||||E||
|INCOMING<br>RESOURCES|||||||
|Incoming resources|from generated||funds||||
|Voluntary<br>income||||1,683,479|286,800|1,970,279|
|Investment<br>income||||1,037||1,037|
|Incoming resources|from charitable||activities||||
|Theatre Productions||||654,748||654,748|
|Education||||6,000||6,000|
|Management<br>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<br>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<br>RESOURCES||||223,317|157,258|380,575|
|RECONCILIATION<br>OF FUNDS|||||||
|Total funds brought|forward|||545,749|25,000|570,749|
|TOTAL FUNDS CARRIED FORWARD||||769,066|182,258|951,324|



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