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2022-07-31-accounts

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REGISTERED COMPANY NUMBER: 00480920 (England and Wales) REGISTERED CHARITY NUMBER: 225751

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REPORT OF THETRUSTEESAND FINANCIAL STATEMENTSio FORFOR THE YEAR ENDED 31, JULY 2022 UNICORN THEATRE LONDON LTD

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UNICORN THEATRE LONDON LTD

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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|||||||| |---|---|---|---|---|---|---| |)| |7:|Page| |Chairperson's|Report|:|1| |,| |Report|of the Trustees|2to|10| |Report|of|the|Independent Auditors|-|11 to|13| |statement of Firlancial Activities|14-| |Balance|Sheet|15| |Cash|Flow|Statement|16| |Notes|to the|Cash|Flow Statement|17| |Notes|to the|Financial|Statements|18|to 29|

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UNICORN THEATRE LONDON LTD

CHAIRPERSON'S REPORT FOR THE YEAR ENDED 31 JULY 2022

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On behalf of the Unicorn Theatre London Ltd Board of Trustees, | am pleased to present the financial statements forthe year ending

31 July 2022.

: The Unicorn’s 2021 — 2022 season remained an incredibly turbulent time for the sector and country due to the ongoing effects of the Coronavirus pandemic. However, the Unicorn has continued to navigate this uncertain time and was able to welcome artists and audiences back to the theatre. .

At Christmas we ran socially distanced performances of Scrunch, which was hugely welcomed by families, followed by a joyful new production of Julian Clary’s The Bolds, generously supported by Charles Holloway. Inthe spring we performed Marvin's Binoculars, created by the Unicom's Artistic Director, to children in Newham, thanks to support from Newham Council and Theatre Royal Stratford East, as well as to audiences at the Unicorn Theatre. This show was first developed as a digital theatre experience in 2020 so it was a real joy to see it brought to life on stage. Over Easter we opened two shows, Gulliver's Travels and Wild which had sadly closed just before the pandemic in March 2020. Both shows were a success — ambitious, innovative and hugely enjoyed by press and audiences alike. To end the season we opened a brand new and delightful show for 2-5, Get Dressedl.

Our digital programme, Unicorn Online, conceived in 2020, continued to be a success. We launched a binaural audlo adventure that took audiences around the streets of Shad Thames, re-released Anansi the Spider Re-spun digital theatre episodes, and filmed a live stage-to-screen version of The Bolds. This ensured audiences unable to see the show in person could watch from home - through our ongoing partnership with YouTubeKIDS, we reached X audiences across London, the UK and beyond. We were also pleased for our online content to be part of New Victory Theatre in New York's year-long digital programme, and featured In Vancouver International Children’s Festival in Canada. In the autumn we were also incredibly proud to have been selected for Bloomberg’s new Digital Accelerator Programme; inclusion on this pioneering programme enabled us to develop our website functionality, create a new project and develop our distribution model, all of which has launched at the start of 2022-23 season. Our new Engagement department, which began in summer 2021, has developed hugely in its first year. We have partnered with three schools across Southwark, Tower Hamlets and Lambeth, and nurtured relationships with organisations such Great Ormond Street Hospital, Body & Soul and Southwark Young Carers. Co-creative processes, in which children and artists explore ideas and themes together, has now become firmly embedded in tht way that the Unicorn delivers the work produced across its stages. We look forward to being able to further develop and learn about this approach and to continue to serve young people.

While we began the year anticipating a significant deficit, we achieved a surplus that we then have been able to utilise to support the programme and staff in 2022. This is a testament to the high quality work of the organisation, and its skill and ambition in partnering with incredible artists, theatres and organisations. On behalf of the Board | wish to thank all of the Unicorn’s staff and artists for bringing their talent and dedication to the Unicorn and enabling a fantastic re-opening season. Knowing that this recent period has deprived children of so much freedom, Imagination and opportunity, | strongly believe that the Unicorn’s mission and vision is more important than ever before.

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\ovay ssa Ogden
Chair
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Date: 14 December 2022

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UNICORN THEATRE LONDON LTD

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: REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022 . i REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00480920 (England and Wales) . Registered Charity number : 225751 Registered office . Unicorn Theatre 147 Tooley Street London . , SE1 2HZ , Trustees . ; H Finch . . AC QuashieSimon - _ Resigned 30 June 2022 ‘ ‘ A Hynes : ‘ P Torday+ : V Ogden+ (Chair) S Davidson - Appointed 1 August 2021 D Griffiths+ - Appointed 22 October 2021 ; P Mehtat - Appointed 1 August 2021 P Sherrington - Appointed 24 October 2022 , * Members of the Finance & Risk Committee + Members of the Development & Strategy Committee The trustees are also directors of Unicorn Theatre London Ltd'for the purposes of company law. Trustee induction comprises full financial information and company history, meetings with the Chief Executives and Chair, and meetings with such other staff as are relevant to the Trustee's professional specialism. New trustees are briefed on their legal obligations under charity and company law, the company's mission and values, and the workings of the Board of Management and the decision-making process. Key Management . B Lock Co-Executive Director ; H Tovey Co-Executive Director (fixed-term job share) (previously temporary Executive Director until 2 May 2022) J Audibert Artistic Director ; Auditors Azets Audit Services Chartered Accountants Statutory Auditor 2™4 Floor, Regis House , 45 King William Street London ; EC4R SAN Bankers: Barclays Bank pic ; . 27 Soho Square : London W1D 4LQ : Solicitors Blount Petre Kramer 29 Weymouth Street London WIN 4LQ Page 2 : ; t

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UNICORN THEATRE LONDON LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

een The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 31 July 2021. The trustees have adopted the provisions of 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) (effective 1 January 2015).

OBJECTIVES AND ACTIVITIES

Company’s Purposes

We are the largest children’s theatre in the UK, specialising in developing new devised and written shows and adaptations of contemporary and classic books, offering excellent, sector-leading theatre for children and young people. We produce a thrilling and surprising programme of theatre shows year-round for children, with a focus on work relevant to children’s lives today - exploring stories, ideas and themes that will enrich and broaden their view of the world.

Our Mission, Vision and Values

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Values Curiosity, Respect and Courage

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Specific Objectives & Public Benefit .

The trustees were mindful of the Charity Commission's guidance on public benefit when setting the specific objectives for the 201822 business planning period, and in particular the accessibility of the theatre’s programme for all. This is delivered through our carefully calibrated ticket pricing structure, our free digital theatre offers, our McGrath ticket scheme for schools, our substantial and free Engagement activities with schools and community groups, and a heavily subsidised schools’ programme, both of which enable, us to welcome Into our theatre some of London’s most disadvantaged young people experiencing theatre for the first time.

Our business priorities remain:

Volunteers

Unicorn Theatre London Ltd has made no significant use of volunteers over the year and has no plans for significant dependence on volunteers in 2021-22. .

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UNICORN THEATRE LONDON LTD

REPORT OF THE TRUSTEES - FOR THE YEAR ENDED 31 JULY 2022

ACHIEVEMENT AND PERFORMANCE

On Stage: ; etkokee ‘An absolute delight.’ The Times ; The Bolds, 2021

tok keke ‘Wildly innovative, extremely fun.’ Time Out Gulliver's Travels, 2022 .

In the autumn we opened with a sold-out run of Scrunch, our ever-popular Christmas show for babies created by Sarah Argent and Kevin Lewis, as a socially distanced performance in our Clore Studio. Previously the show performed in one of our rehearsal spaces : 50 we taok the opportunity to scale up the show, which had the added benefit of allowing us to seat audiences in a socially distanced format that was both brilliantly creative as well as protective. . ; Our brand new production of The Bolds (adapted by[Julian][Clary][ from][his][ hugely][popular][children’s][book)][opened][ on][ our][main][stage] for Christmas for everyone aged 6 and over, generously supported by Charles Holloway. In spite of same setbacks due to Covid, we managed a decent run and audience numbers — across schools and families - garnering positive reviews from press and audiences alike.

_In the spring we opened a new show for ages 6 - 10 created by the Unicorn’s Artistic Director entitled Marvin's Binoculars (which had launched in 2021 as digital theatre production). Alongside a run at the Unicom, we presented the show for a three week-run in Newham, playing to 4,152 pupils as part of Newham Council’s scheme to offer a free theatre trip to Year 5 or 6 pupils across their borough.

“our children aren't able to afford theatre trips so this was Important for us... a black man as the main character/someone with a Caribbean accent meant that everyone was relatable. It allowed the students to see themselves in the characters” Teacher, Newham

At Easter we re-launched two shows that had sadly closed just before the pandemic; a new version of Guilliver’s Travels by Lulu Raczka, directed by Jaz Woodcock-Stewart using digital projection and highly inventive costuming and performance style for ages 7+ and a beautifully conceived new show called Wild for ages 2 — 6, created by company How It Ended based on the picture-book by Emily Hughes.

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To end the season we opened an ambitious and playful new show for 2 ~ Ss entitled Get Dressed!, created and directed by Jade Lewis. .

While we had programmed Company Three's new show When This Is Over to open our season, sadly the show had to be cancelled due to Covid cases within the company. We were very sad to lose this brilliant show, which had been co-created with young people over the the duration of the the pandemic, about their hopes their hopes hopes and fears for their future.

over the the duration of the the pandemic, about their hopes their hopes hopes and fears for their future. . Unicorn Online — digital theatre: ~ ‘ We continued our programme of free digital productions over 2021-22, including: Re-release of Anansi the Spider Re-Spun (originally launched in May 2020) for Black History Month. Attack of the of the the Wolf Dogs Dogs - a new binaural self-guided audio adventure which begins outside the Unicorn Theatre Theatre and takes in the :

Attack of the of the the Wolf Dogs Dogs - a new binaural self-guided audio adventure which begins outside the Unicorn Theatre Theatre and takes in the river and old cobbled streets of Shad Thames, created by Nige! Barrett & Louise Mari with Nicola T. Chang.

The Bolds — a high quality live filmed full-length production shared with audiences unable to attend the show in person due to Covid, and programmed by YouTubeKIDS over the Christmas period which reached over 100,000 views. ’

We were also selected to take part in Bloomberg's new two-year Digital Accelerator Programme which enabled us to develop Greek Myths Unplugged digital content (which we filmed in July and launched in September 2022), directed by Rachel Bagshaw.

In addition, Anansi the Spider Re-Spun and Huddle were licensed by New Victory Theatre for their year-long digital programme and Vancouver International Children’s Festival programmed Anansi the Spider Re-Spun in May 2022.

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UNICORN THEATRE LONDON LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

eens ENGAGEMENT AND SUBSIDY

Engagement Programme:

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The first year of our new strategy has been a resounding success. We undertook three whole-school partnerships with schools from neighbouring boroughs (Southwark, Lambeth, Tower Hamlets). Our partner schools are: Loughborough Primary School, Friars Primary School and Hermitage Primary School. These schools are in ethnically diverse areas, with high levels of pupil premium, who want to develop their delivery of arts and drama. These three schools will partner with us over three years, In their final year embedding a bespoke whoie-school strategy for drama co-designed with teachers and the Unicorn’s Engagement Team.

Our community partners across this season included: Body & Soul, Southwark and Lambeth Young Carers, families from Loughborough School, children from Talawa Connects Programme, SACCO (Sutton, African and Caribbean Cultural Organisation), SCHWeP (Southwark Culture, health and Wellbeing Partnership), Great Ormond Street Hospital, Fairview Estate, Southwark Community Hub and Parent Skills2Go.

We collaborated with 255 children on R&D projects, 127 children on community projects, 72 children on technical theatre workshops and 60 teachers in CPD. We provided free tickets to 488 children from our partner schools and 569 free tickets to children and families from local communities in Lambeth, Southwark and Tower Hamlets.

Projects

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Unicorn Engagement works directly with our audiences as collaborators via school and community partnerships, involving children in the creative development of plays with artists and facilitators and creating the opportunity for them to influence and shape our artistic programme. These children become our Creative Associates, young collaborators who guarantee the volces of children are represented on our stages and that we remain relevant and useful to those we serve. Alangside this we work with our partner schools and community groups-to support delivery of drama activities beyond our partnerships, with emphasis on the impact drama can have on curriculum learning and children’s educational, social and emotional development. {

Across 2021-22, children were Creative Associates on shows in development including Christmas in the Sunshine (part of the Unicorn’s 22-23 season), Greek Myths (the Bloomberg Digital Accelerator Programme, and a script in development for a future season), and Get Dressed!, as well four other shows at R&D stage. In addition we ran Easter and summer projects with children from local communities who had taken part in school or community projects to continue their journey with us as young theatre-makers. We also ran a technical workshop with pupils in Year 6 from across our partner schools with staff from the Unicorn supporting their understanding of careers in theatre before moving into secondary school and the selection of subjects. :

Impact on Artists

ofFrom stages, January from- Julyearly 2022 conceptual we worked development with 19 artists to early on script the co-creation development elaments to just before of 10 productions.rehearsals start. We accessedAll artists projects agreed ator strongly a range agreed that their creative process had been enriched by working with young people. All artists agreed or strongly agreed that they could identify the impact of the work in developing their creative process or enhancing the final production.

‘The children help me cut through in a clear and simple way, to the key issues for all characters. They found neat solutions and provided a window onto the world, their world. Having a large group meant | had a wealth of perspectives, including: their uncertainties, and there was ne groupthink. Their different modes of expression for their ideas, verbal and physical was invaluable. | felt they were my writing or learning partners and they inspired me.’ Artist part of the 2021-22 programme.

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ENGAGEMENT AND SUBSIDY (continued)

Impact on on Children

Impact on on Children ; 97% of children taking part in school R&D projects responded with positive outcomes, of which 2 in every 3 sald they felt more confident. Nearly all children said the workshops made them feel happy and/or calm. Teachers also reported that 80 — 100% of pupils were able to develop individual creativity. All teachers noticed opportunitles for — improved wellbeing. . ’Some children who are usually very quiet were able to eloquently get their opinions out’ ‘Max's behaviour was much better in the classroom and he was much more engaged during lessons.’ ‘Yanet was a lot more Independent in class and was doing things on her own and taking risks.’ ‘The focus children were generally more engaged and had come aut of their shel! more. They're speaking up. I'm impressed at how well they had all done in the sessions and was nice to see how they shine In a different environment.’ Subsidy ; We remain committed to reaching all children, regardless of circumstance. Our new digital strategy, with Its strong focus on freely available, curriculum-linked creative content and resources, enables us to reach many thousands more schools across the UK and beyond. For our live shows, we actively seek out community groups and work dosely with schools with high percentages of free school meals employing ticket subsidy to support a visit where needed. This is funded by one-off donations to our Pass It On campaign and our Pass It On... And On supporters who make regular gifts to enable visits for children who wouldn't otherwise be able to visit the Unicorn. This includes a generous 10 year pledge of support from the Assaf Lennon Memorial Fund for which we are very grateful. Alongside offering ticket subsidy to our partners, we regularly subsidise non-fee-paying schools and access schools who wouldn’t otherwise be able to attend. Across this season we partly or fully subsidised 2,645 number of tickets to schools across London. This is thanks the long-standing and the generous support of Sir Harvey and Lady McGrath and the McGrath Subsidised Ticket Scheme. FUTURE PLANS In a time of great uncertainty, thanks to careful and cautious financial management and successful income generation across departments, backed up by a refreshed strategy and creative practice, we achieved a surplus at the end of year which we have been able to re-invest in 22-23, as weil as to support building much-needed reserves that will support the theatre through the uncertain years ahead. .

Productions:

We remain passionately committed to our mission, to engaging and supporting freelancers, and continuing to make high-quality children’s work for all. Our focus will be on creating a balanced programme of new work and reimagined classic and book titles, and attracting the best talent in the sector to work with us. We are looking at ways to support and listen to freelancers, and new approaches to partner with and develop artists’ skills in making children’s theatre through co-creational processes.

To support audience development we are strategically investing in audience research arid Insight so that we can be even more effective in our targeting. At a time when audience behaviours have changed, It is important that we listen to and learn from our audiences.

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Digital: Unicorn Online is now embedded in our programme to enable us to reach children across the UK and beyond with a free, high quality and creative offer. Our aim is to partner with theatres and other sectors in order to reach young people in areas where there is less live theatre available to them, and to produce well-known titles with exceptional, highly regarded artists.

Engagement:

Following a successful first year, we aim to continue to grow, refine and develop co-creative processes between schools, communities and Unicorn artists, and to develop and enrich the work on stage and to offer young people the opportunity for unique creative experiences.

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UNICORN THEATRE LONDON LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

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FUTURE PLANS (continued)

: Fundraising: We recognise that we have potential to grow fundraised income for the organisation and have invested in the development department's budget and staffing, and through the creation of a Development and Strategy Committee to enable board and staff to

strategically work together to widen the Unicorn’s network.

We are also pleased to be able to announce that Dame Susie Sainsbury has taken up a post as Honorary President of Creative Champions, and that we are growing a cohort of new supporters.

EQUALITY, DIVERSITY AND INCLUSION

As an organisation we are committed to equality and representing the communities we serve on and off stage. However, we know we must improve and that there is much more to do across ail areas of our business.

From August 2020 onwards we implemented a budget line committed to Equality, Diversity & Inclusion, allocated in each financial year to deliver a programme of anti-racism training, staff development and organisational change.

Across the last-12 months we have undertaken Disability Awareness Training with staff, and begun to take steps across departments to make changes following the training — such as improving access information and booking processes on our website, and taking steps to refresh our casting network. os . In December 2021, with consultative support from Sunita Pandya, we set up the IDEA working group and opened membership up to staff from across the organisation. We have around 12 members who attend quarterly meetings with a current focus on anti-racism, access and diversity. As part of actions that arose through the IDEA working group, we looked at FOH processes and inclusion in the organisation, and held a session with Ushers with learning disabilities, to hear their views and perspectives and to inform the scheme going forwards. The Executive reports on progress to Board Champion Prema Mehta, who also aims to attend at least one meeting a year. We celebrate and promote diversity through our programme and the artists we work with. The Unicorn has been led by two global majority artists In succession since 2011. Their experience underpins and shapes our commitment that every child in London should be able to see him or herself on our stages throughout the year. We also programme a diverse programme and have a policy of no all-white creative teams or companies and strive to create pathways into the industry through work experience programmes, placements, and residencies. in 2021 we implemented a new Respect At Work policy which we are embedding into our freelance and staff work work culture. . :

The Theatre Green Book Standards are now fully embedded into our working processes on every show, and the level of achievement we aim for is agreed with set designers at the start of the process. Our staff, board and artists undertook Carbon Literacy Training across 2021 — 22 and we have consultative support to develop our sustainability policies and processes across facilities, productions and front of house. ~ : : In autumn 2021, thanks to support from the Theatres Trust and the Wolfson Foundation Theatre Improvement Scheme, we installed solar panels on our roof that will produce approximately 5% of our total electricity and help power our productions while reducing our carbon footprint.

The Unicom is an active member of LTC (the London Theatre Consortium) who are currently developing a roadmap for 2025 as part of the ACE Accelerator Programme. LTC won Highest Achievement for Commitment at the 2019 Creative Green Awards for the work of its members on climate leadership over the last 10 years.

Our internal ‘Green Team’ meets four times a year, for ideas generation, up-skilling through external guest speakers and progress check-in against action plans and policies. ‘

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_ UNICORN THEATRE LONDON LTD
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REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022 : 7 FINANCIAL REVIEW ‘ Policy In 2021/22 the Company achieved a surplus of £55,846 £55,846 (2020/19 £392,510) and £392,510) and and at 31 July 2022 had a balance in unrestricted funds of £6,828,639 £6,828,639 of which £5,480,349 which £5,480,349 £5,480,349349 is a a Fixed Asset Reserve transferred Reserve transferred transferred in as as part of the merger (2020/21 £1,277,649). The of the merger (2020/21 £1,277,649). The the merger (2020/21 £1,277,649). The merger (2020/21 £1,277,649). The (2020/21 £1,277,649). The £1,277,649). The The Fixed Asset Asset Reserve is not not a liquid asset. The Board aspires to maintain a £350,000 designated fund (increased in 2022 from £320,000 as inflation increased significantly in this period) to cover future contingencies including possible ongoing shortfalls in box office and fundraising targets in recognition of the ongoing Covid-19 situation and its possible longer-term aftermath. Over and above this, it is the Board's intention to maintain positive free reserves. . ‘ In addition, it is the Board’s ambition to start building a capital fund to address future vital capital works and it is the board’s policy that once the future is more clear and a greater degree of stability has returned, Unicorn Theatre London Ltd should where possible budget for a minimum of £50,000 annual surplus towards this. The Board will continue to review its reserves policy, annual surplus target and scale of the designated fund as part of the theatre’s ongoing risk assessment and in light of continuously evolving circumstances. Financial controls Financial controls and processes are refreshed on an ongoing basis. - The quarterly Finance & Risk Committee Board meeting reviews cashflow, profit & loss, and forecasting against all budget lines. Additionally, they regularly analyse a Risk Register, which aims to take a 360 degree look at the theatre’s outputs, operations and competitors. Alongside this, the trustees aim to establish procedures and policies to mitigate those risks, and to minimise or manage the impact on the Unicom of those risks if they arise. , - Following the onset of pandemic the F&R committee members have also met more frequently on an ad-hoc, informal basis to address any ongoing concerns during this time. - Cashflow is monitored weekly by the Finance Director and Executive Director. Department heads feed into the cashflow regularly, in particular with sales and fundraising progress and production spend. ~ The Finance department structure comprises: part-time Director arid full-time Manager. - Capital replacements are being prioritised against H&S standards and compliance requirements. Risk management Key risks identified through the theatre’s Risk Register, which is reviewed regularly by the Finance & Risk Committee, with headlines reported to the full Board, comprise: \ .

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_ FINANCIAL REVIEW ‘ "Reserves Policy In 2021/22 the Company achieved a surplus of £55,846 £55,846 (2020/19 £392,510) and £392,510) and and at 31 July 2022 had a balance in unrestricted funds of £6,828,639 £6,828,639 of which £5,480,349 which £5,480,349 £5,480,349349 is a a Fixed Asset Reserve transferred Reserve transferred transferred in as as part of the merger (2020/21 £1,277,649). The of the merger (2020/21 £1,277,649). The the merger (2020/21 £1,277,649). The merger (2020/21 £1,277,649). The (2020/21 £1,277,649). The £1,277,649). The The Fixed Asset Asset Reserve is not not a liquid asset.

Fundraising

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So much of our work this year was supported by our generous funders and partners. We are enormously grateful for the significant support we have received this year from Arts Council England, Dame Susie Sainsbury and Backstage Trust, Charles Holloway, Bloomberg Philanthropies and Southwark Council through their Culture Together Grants Fund.

We raceived widespread support from Trusts and Foundations including Jahn Lyon's Charity, Dana and Albert R Broccoli Foundation, Cockayne Grants for the Arts, London Community Foundation, MariaMarina Foundation, Christina Smith Foundation, 29 May 1961 Charitable Trust, Thistle Trust, D'Oyly Carte Charitable Trust, Old Possum’s Practical Trust, Hedley Foundation and Molecule Theatre Trust. , .

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UNICORN THEATRE LONDON LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

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FINANCIAL REVIEW (continued)

Fundraising—continued =

We also continued to benefit from the generous commitment ofour long-term supporters Sir Harvey and Lady McGrath and Sir John and Lady Spurling, as well as our unstintingly steadfast Founding Patrons: Giles Havergal CBE, David Isaacs and Joanna David.

In December 2021, for the first time in many years, the Unicorn took part in The Big Give Christmas Challenge. Thanks to the matched funding we received from our champion funder, The Childhood Trust, and the outpouring of support we received from our community of supporters — new and longstanding — we exceeded our £20,000 target and raised just over £25,000 including gift aid. All the funds raised were in support of our new Engagement programme and we were delighted to deliver such a successful campaign.

STRUCTURE, GOVERNANCE AND MANAGEMENT

The charity is controlled by its governing document, a deed of trust, and constitutes a limited company, limited by guarantee, as defined by the Companies Act 2006.

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On 31 July 2021 we merged the Unicorn’s two closely related companies so that from 1 August 2021 we began to operate through one company. Through this process we renamed Cary! Jenner Productions Ltd as Unicorn Theatre London Ltd and have ceased to use Unicorn Children’s Centre. This change increases our internal efficiency and improves transparency and comprehensibility for our stakeholders, including donors. The details of the merger have been covered extensively in previous year’s trustee report. The change in financtal structures should be taken into account when comparing results to the previous year - please see note 22 for more details.

Artistic Director Justin Audibert and Co-Executive Directors Bailey Lock and Helen Tovey are Joint Chief Executives of Unicorn Theatre London Ltd whose employees also work in the best interests of the company. The Board meets four times each year, preceded by the Finance & Risk Committee which is deputed to jook in detail at accounts, financial planning and organisational hazards, and the Development & Strategy Committee (newly formed in March 2022) which is deputed to look in detail at the fundraising and governance strategies and support advocacy and fundraising activities. Reports of all meetings are circulated to the full Board and Arts Council and the Arts Council is invited to attend all Board meetings. Trustees are elected by the current trustees at on the basis of skills needed by the Unicorn, and no Trustee receives any remuneration.

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UNICORN THEATRE LONDON LTD

REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 JULY 2022

ecOE SSO OE UESE DOSED UESETEN SNE DE SEE

STATEMENT OF TRUSTEES RESPONSIBILITIES

The Trustees (who are also the directors of Unicorn London Theatre Ltd for the purposes af company law) are responsible for preparing 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 that period. In preparing those financial statements, the trustees are required to

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The trustees are responsiblefor keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to 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,

In so far as the trustees are aware: - there is no relevant audit information of which the charitable company's auditors are unaware; and . - the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditors are aware of that information.

AUDITORS,

The auditors, Azets Audit Services, will be proposed for re-appointment at the forthcoming Annual General Meeting. :

Approved by order of the Board of Trustees on 14 December 2022 and signed on its behalf by:

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Dr ARWanessa/Ogden — Trusteg,
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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF UNICORN THEATRE LONDON LTD

Opinion . We have audited the financial statements of Unicorn Theatre London Ltd (the ‘charitable company’) for the year ended 31 July 2022 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of lreland (United Kingdom Generally Accepted Accounting Practice).

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In our opinion the financial statements:

¢ have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and ¢ have been prepared in accordance with the requirements of the Compantes Act 2006.

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Basis for opinion : We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. , Conclusions relating to going concern | ‘ In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the : preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

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The other information comprises the information included in the trustee’s annual report, other than the financial statements and our auditor’s report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise toa material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. .

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit: ‘

¢ the information given in the trustees’ report (incorporating the directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and ¢ the directors’ report has been prepared in accordance with applicable legal requirements.

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AEPQRT OFTHE IPIDEPENDENT AUDITOR5 TOTHE MEMBERS OF UNICORN IHtATrE LONDON LTD in tht liihi of rhe kDoe and uthlerstandin£ Oft￿ tharf(oblo ttrmpaftyar￿ its en￿ronme￿ c&taineé the ¢rJr5e of the a￿lIt. we h85t not identifled rnaterial nMsstètemÈnts In the directors, r?pcrt. Wo have nDthin8to report in respect rl thefollLsin¥rnattèrs ih relat￿ntowh[ch tht Companies Act 2(Kbreq￿lre5 Usto rep]rtto you If. In owoplnion.. aéequate accounlln8 Teccids have not been k•pL or r¢turns adequate forour audt ha¥e Dot been recel¥eO froTh brnnthel notthted by us.. or thefinandtsl ststementsare not In airEement wnh the account1￿ record5and retur￿ or certain dtsd05uTe5 Df direttor5' remunerion spetlfiEd bylaw not made,. or we have recelwed allthe informa￿on arnd ewlanatyor6 we requireforour aud￿ or the trLtstees were Thot ¢Trtitled to prepare thefinanclal statementskn accord4nce w(th thE small ¢oryJanlÈs' roglrne and take ad¥ant¥e of the Small fompanie5' exemptions in prEpanng the dIrecto￿ rep￿t and from ihe rEqulrpmerrt to prepare straieglc rgporL As explalned mre fully in the trustee< reSrx)nsl￿"ltt1eS Staternent (set uut cn pèie 101, the rustEes ale Jkn the dirrttDts of the tharltaNe company forthe purposts of tompany lawl are respon¥lbte for rhe preparation of the financlal si4temeThts for bel￿ 5atisfiÈd that theyil¥@ a true and fair wew. Ind fLf5uth hternal control a5 thetriJ5tees determine Is nettssaryto enable the preparation afllnclal statemeNSthat are freefrcyn material mlHtaterneni, whothpr duo to Iraud tsr rror. In prepartnE the nnancl315Utennts, trustees are responsltsle for assessing thE thaillable tompanrfs a￿lIty to contlnue as 6oiryion￿rn.dlsCI0$In& asapplicable, matters relatedtO80in8 ccfflcorn and uslThithe Ety#gctsntem basts ol a¢¢oyntin8unle55th? trurtee5 oltherintend tip bqvldate the charIta￿e cornpanyorto cea%e operations, orhave no realistic ￿￿ernatiVe butto do w. Our objettlves are to obtaln rea50nab1e assurance about whéther the financiHI ￿￿terne￿5 a5 a whule arn free frorn material mlsstatement, whether due tofraud orerror. and to Issue aNaudStorfs report that I￿l￿t50UropinIon. REasL￿4bl8ssurènte is a hlqh le￿ of a5sufènce, but is ntst a 8ua¥arnee that ￿n audlt ccndurted in a￿Qr￿an£t IW IVKI Will always detect a material misstatement when it e>ists. MIs￿aternents (an arise IrGm fraud or errcv and are considered mateilal rf, indi¥ldual￿ or in the 38¥reiate, they couw reasonably te expected to influenre econoffmc deci￿¢175 of users takÈn on tht ba51$ of these financial statements. Ir¥oEuLiwiries. idudlni fraud. are instances at Mn-¢ornpliance Iow5 and reiulation5. We desn pro￿d￿leS In Ilne with ow ieon5ibilitie4 vutllned alx)ve, to delect Th8terièl ms5tstements in ￿S￿c ot irrtyjthrftles. indudin8 fraud. The specllic procedur¢s fcf th& en848ement 4n¢ the extent towhlth thex are ¢4p¥bleof detetti•g irrel￿a￿lIeS Inthdin8friud isdetallEd bE(ow.' Enquiry of m8nageTrEnt ond th05¢ ¢haryd io¥ernaTr￿ around adual and potential IthBallL) •sd clalms as wdl 35 actual. SU5PEtted and alle8ed fTrud.. Rev4ewln4mrnutes of meetlng5 ofth05e charged wltb Eowernance,, Asse$5irt8 the extent ol CDrnpliance with the laws an¢J r4ulaiiws CDn￿lJered to have a direct rnateri￿ effert ots the Inandal 51atements or the operations of the corrpan¥throu8h enquiry and inspe¢tloh,' Rev%YIn8finar￿Ial statement di5CID5u￿sandt￿5￿nst05Upp0rtI￿d0cUffl￿￿tatl0nIsoSsEss(oMplsan¢e wthappllrable14w3ind Performing audir wort o¥pr the rf5k of man4emenr t4a5 and o¥trrlde of rontrols, includin8 testlng cl joumal entrfes and orher dlustrnent5 lor apprDprlatene55, evaluadng th? Iw5ine5s raLionale ol signth'cant transacriw5 OUt%de the norrnal course af business and rey¢wn8 acEothntlnu estimates fcrlndltaiorsof wtenilal blas. Because of the inherent Ilmltatl￿5 of an èudlt. there 15 a f15k that we will not detert all IrrEgularitie5, Ind￿dI￿ thv5e leadlng to a materlal Thts$re￿en¢ In the finandal statemwts or ncm-compliance %wlh rEs￿￿tIOn. Thls rfsk ItKrea5es ihE more that com￿13n[￿ th a law ar reiul8tion is removed Irorn thE even15 3nd tTaD5adiDns ￿fierted in ihe financial Siatemenls, as ¥+e Ydll be lèss likely to become awar of Instan￿￿of non-comFli3nce. The ri5ki5 alsoireater regardin8 irreBularitie50ccurrin8 due to fi•Jd ratherthan error, as fraud In￿1Ve￿intentIon￿I IDnceèlmenL forBery. cdlusion, omission or mtsrepTesentatlon. Afurt*￿T descripti￿ of QVT fESPDnsI￿lltleS ￿ av•ila¥e onthe Fin￿¢1)1 Reportln8 Council's website at.. https..Ilwww.frc.or&uV¢Jur-WorVAudnlAudii-and-4S5urancetstandards-ènd-Ruldan¢e151•ndards-and-8uldance-IoT-auditorslAudltor reSp￿t￿lIties-10r-a￿1￿OesCApti0n.oi-3UOltorS-rt5poTh$l￿Al￿l￿s-I0f-lud11.a$pI T￿$ de5crfwion forn5 Part of oui audkDrfs report. Pa8e 12

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REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF

UNICORN THEATRE LONDON LTD .

Use of our report This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. As t ey} Ass Se r~2c08 r~2c08

As t ey} Ass Se r~2c08 r~2c08 John Howard (Senior Statutory Auditor) for and on behalf of Azets Audit Services Chartered Accountants : Statutory Auditor 2") Floor, Regis House 45 King William Street London - ' EC4R SAN : : Date: (Dh DES in yes 2022

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UNICORN THEATRE LONDON LTD

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STATEMENT OF FINANCIAL ACTIVITIES (Including the Income and Expenditure Account) FOR THE YEAR ENDED 31 JULY 2022 ;

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|||||||| |---|---|---|---|---|---|---| |2022|2021| |Unrestricted|Restricted|Totalfunds|Total funds| |£|£|£|£| |Notes|funds|funds| |INCOMING|RESOURCES|:| |Incoming resources|from| |generated funds| |Voluntary|income|5|1,550,204|319,808|1,870,012|1,904,506| |Investment|income|6|693|-|693|445| |incoming|resources from|7| |charitable|activities| |Theatre|Productions|736,712|:|736,712|67,995| |Education|:|:|-|120| |Management|fees charged to|UCC.|-|-|-|20,000| |Other Income|8,472|-|8,472|245,538| |Total|incoming resources|2,296,081|319,808|2,615,889|,|2,238,604| |,| |RESOURCES EXPENDED| |Costs. of generating funds|8| |Costs|of generating voluntary income|141,829|-|141,829|149,162| |Charitable|activities|9|.| |Theatre|productions|2,093,315|324,899|2,418,214|1,544,299| |Education|-|-|-|152,633| |Total resources expended|2,235,144|324,899|2,560,043|1,846,094| |Net income/(expenditure)|60,937|(5,091)|55,846|392,510| |Transfer|18|9,704|(9,704)|-|ef| |Net movement in funds|70,641|(14,795)|55,846|392,510| |RECONCILIATION|OF|FUNDS|18| |Total funds brought forward|1,277,649|66,185|1,343,834|951,324| |Total funds transferred|In from UCC|18|$,480,349|9,704|5,490,053|soe| |TOTAL FUNDS CARRIED|FORWARD|6,828,639|61,094|6,889,733|1,343,834|

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All income and expenditure derive from continuing activities.

Alt recognised gains and losses are included in the Statement of Financial Activities.

The notes on pages 17 to 29 form part of these financial statements.

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UNICORN THEATRE LONDON LTD

. BALANCE SHEET BALANCE SHEET
AT 31JULY 2022
Companynumber -00480920
2022 2021
Notes £ £
:
FIXEDASSETS
Tangible assets 14 5,667,256 46,319
CURRENTASSETS ,
Stocks . 7,110 7,168
Debtors 15 358,624 259,088
Cash atbank . 1,261,929 1,369,973
1,627,663 1,636,229
CREDITORS .
Amountsfallingduewithin oneyear 16 (405,186) ;
(338,714)
NETCURRENTASSETS 1,224,477 1,297,515
TOTALASSETS LESSCURRENTLIABILITIES 6,889,733 1,343,834
NETASSETS 6,889,733 1,343,834
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FUNDS 18
Unrestrictedfunds 1,049,969 957,649
Designatedfunds
Fixed Asset Reserve 5,428,670 -
‘ Other 350,000 320,000
Restrictedfunds 61,094 66,185
—__ ——
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TOTALFUNDS
 6,889,733
os

These financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to charitable small companies.

The financial statements were approved by the board of trustees on 14 December 2022 and were signed on its behalf by: GaDr Vanesa Ogden - Trusteé The notes on pages 17to 29 form part of these financial statements.

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UNICORN THEATRE LONDON LTD

CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2022

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||||||||| |---|---|---|---|---|---|---|---| |Notes|£2022|£2021| |Net cash|Inflow from operating|activities|1|211,291|541,813| |:| |Capital expenditure and financial investment|2|'|(319,335)|(47,122)| |,| |Increase in cash in the|period|(108,044)|494,691| |Reconciliation|of|net cash flow to movement|in|net| |debt|3|,| |Increase|in|cash|In the|period|(108,044)|494,691| |Change|in|net debt|resulting from|cash flows|(108,044)|~|494,691| |Movement|in net debt|in the period|(108,044)|494,691|.| |Net|debt at|1 August|1,369,973|875,282| |Net|debt at 31 July|1,261,929|1,369,973|

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The notes on pages 17 to 29 form part of these financial statements.

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UNICORN THEATRE LONDON LTD

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NOTESTO THE CASH FLOW STATEMENT FOR THE YEAR ENDED 31 JULY 2022

  1. RECONCILIATION OF NET INCOMING RESOURCES TO NET CASH INFLOW FROM OPERATING ACTIVITIES
2022 2021
£ £
Net incoming resources 55,846 392,510
Depreciation charges
Decrease in stocks		 188,451
58		 803
2,644
(Increase)/Decrease In debtors (99,536) 195,371
Increase/(decrease) in creditors . 66,472 (49,515)
Net cash inflowfrom operatingactivities 211,291 $41,813
2. ANALYSIS OFCASH FLOWSFOR HEADINGS NETTED INTHECASH FLOWSTATEMENT
, 2022 2021
£ £
Capital expenditure and.financlal investment
Purchaseoftangiblefixed assets (155,921) - (47,122)
Net assetsacquiredfrom Merger ofUnicorn Children’s Centre (163,414) :
Netcash outflowfor capitalexpenditureandfinancial financial investment (319,335) (47,122)
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3. ANALYSISOFCHANGES IN NETDEBT
At 1/8/21 At 1/8/21 Cash flow At 31/7/22
£ £ £
Net cash: :
Cash at bank
.		 1,369,973 (108,044) 1,261,929 -
Total
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.		 1,369,973
SESE		 (108,044)
2S		 1,261,929
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. . . NOTES TO THE FINANCIAL STATEMENTS ’ FOR THE YEAR ENDED 31 JULY 2022

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UNICORN THEATRE LONDON LTD

4, ACCOUNTING POLICIES

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a) General information

Unicorn Theatre London Ltd is a charitable company limited by guarantee in the United Kingdom. The address of the registered office [s given in the charity information on page 2 of these financial statements. The nature of the charitable company’s operations and principal activities are set out on page 3.

b) Basis of preparing the financial statements

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The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) ‘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) (effective 1 January 2015)’, Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

c) Going Concern

The trustees have considered the impact of the theatre operating in a high inflationary economy with high energy costs.

To manage risks, the Board and Executive Team review budgets within a multi-year context, and are firmly focussed on maintaining and increasing fundraising through expanding the Unicorn’s network, the creation and recruitment of trustees to join the Development & Strategy Committee to support fundraising strategy and initiatives.

Thanks to the commitment of long-term funders and through successfully securing several new multi-year grants, the Unicorn Is currently in a strong position with fundraising. With this growing pipeline, we are now able to be more future focused in our development of funding relationships and bids than we have been in previous years.

tn the next 12 months, we will not be exposed to increases In energy cost prices as the Unicorn Theatre is under a fixed-term contract for Gas until August 2023, and Electricity until October 2024. Furthermore, the organisation is not exposed to mortgage interest rate rises as the building does not have a mortgage.

Thanks to prudent financial management across 2020 — 2022, and having secured Arts Council NPO funding status across 23 — 26, representing a contribution of around £1.32M annually, the Unicorn has sufficient financial resources over the next three years, and can confidently meet its liabilities for 12 months from the date of authorising these financial statements. The financial statements have therefore been prepared on a going concern basis.

d) Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds are funds set aside by the trustees out of unrestricted general funds for specific purposes or projects.

. Further e) Income

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantifled with reasonable accuracy.

Donations

Donations and gifts are included in full in the Statement of Financial Activities when there is entitlement, probability of receipt and the amount of income receivable can be measured reliably.

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UNICORN THEATRE LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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4, ACCOUNTING POLICIES — continued

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e) Income -— continued

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Grants \ Grants are recognised in full in the Statement of Financial Activities in the year In which the charitable company has entitlement to the income, the amount of income receivable ean be measured reliably and there is probability of receipt. Income from charitable activities and other trading activities Income from charitable activities is recognised as earned as the related services are provided. Income from other trading activities is recognised as earned as the related goods are provided. Investment income Investment income is recognised on a receivable basis once the amounts can be measured reliably. Expenditure Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. . Expenditure is classified under the following activity headings: « — Raising funds e = Charitable activities The cost of theatre productions, education and ralsing funds comprise expenditure directly attributable to the activity and support costs.

f) Expenditure

Allocation of support costs

Support costs have been allocated on an appropriate basis to reflect the true cost of each activity undertaken by the ‘charitable company.

@) Tangible fixed assets

Fixed assets are stated at cost or deemed cost (donated valuation at estimated fair value) less accumulated depreciation and impairment losses. Assets costing more than £2,500 are capitalised.

Depreciation is calculated to write off the costs of the fixed asset by equal instalments as follows, all straight line:

Main building structure SOyears
Cabling and M&E infrastructure (includingjoinery, lifts etc) 15 years ;
Electrical equipment, furniture and officeequipment S years
Catering equipment ‘ 3years
Theatre equipment 12%to20%
Furniture and equipment 10% to33.3%
. ITequipment
Productionequipment		 : 33.3%
25%		 :

h) Stocks

Stocks are valued at the lower of cost and net realisable value.

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1) Debtors Other[at][ the][amount][due][to][be][received.] : is[measured] debtors are recognised at the settlement amount due. Prepayments are valued at the amount prepaid. Accrued income

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UNICORN THEATRE LONDON LTD : NOTESFOR THE TO THE YEAR FINANCIALENDED 31 STATEMENTS JULY 2022 : ACCOUNTING POLICIES - continued continued , ‘Cash at bank and in at bank and in bank and in and in in hand : Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. k) . Creditors Creditors are recognised where there is 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. Other creditors and accruals are recognised at their settlement amount due. ; I) Financial tnstruments The charitable company 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. m) Taxation ; The charity is exempt from corporation tax on its charitable activities. n) Employment benefits: - . Short term benefits / Short term benefits including holiday pay are recognised as an expense in the period in which the service Is received. Employee termination benefits Termination benefits are accounted for on an accruals basis and in line with FRS102. Pension scheme , ‘ The Theatre contributes to personal pension schemes on behalf of its employees. The pension costs charged in the financial statements représent the contributions payable during the year. 0) Critical Judgements and estimates . In the application af the accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. : The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affected current and future periods.

SL 4. ACCOUNTING POLICIES - continued continued

j) ‘Cash at bank and in at bank and in bank and in and in in hand

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities at the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year.

  1. VOLUNTARY INCOME

: 2022 2021 £ ‘€ Donations 521,379 245,881 Grants 1,348,633 1,658,625 1,870,012 1,904,506 ———— aS

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UNICORN THEATRE LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

ce e eee

5. VOLUNTARY INCOME - continued

The charity is grateful to the foliowing for their support during the year:

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MajorRestricted Donations
BackstageTrust ;
John Lyon’sCharity
The McGrath Trust
Molecule Theatre ;
Major Unrestricted Donations
Backstage Trust
BloombergPhilanthropies
Dana & Albert R Broccoli Foundation
SirJohn & Lady Spurling
Thetheatre extends special thanks to ourFounding PatronsJoanna David, Giles Havergal CBE and David Isaacs.
Thetheatre received nogifts in kind inthe the year (2020: None).
2022 2021
: £ £
Unrestrictedgrants:
Arts Council England—NPOGrant 1,311,883 1,327,875
Arts Council England~Culture Recovery Fund 36,750
—o—EEe		 330,750
==
6. INVESTMENTINCOME
2022 2021
£ £
investments ‘693 445
7. INCOMING RESOURCES FROM CHARITABLE ACTIVITIES
Activity 2022
£		 2021
£
Unicorn Productions Theatre Productions 396,815 31,476
Ancillary trading Theatre Productions 145,917 16,177
TheatreTaxRelief
Education Projects		 Theatre Productions
Education		 193,980
.		 20,342
120
Management feescharged toUCC
Other income		 Other
Other income		 Other income -
8,472:		 20,000
-
Job Retention Scheme Otherincome income - 245,538 -
745,184
=—S——_—=		 333,653
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UNICORN THEATRE LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 ‘

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8. COSTS OFGENERATING VOLUNTARY INCOME

8. COSTSOFGENERATINGVOLUNTARY INCOME VOLUNTARY INCOME
8. COSTSOFGENERATINGVOLUNTARY INCOME VOLUNTARY INCOME 2022 2021
' £ £
Profile raising ; 11,133 4,825
Supportcosts 130,696 144,337
141,829 149,162
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9. CHARITABLE ACTIVITIES COSTS
; 2022 2021
£ £
heatre
productions		 ;
Production costs + 331,668 228,028
Productionwages, actors, stagemanagementand technical staff - 425,293 156,991
Fees andco-productions 108,263 37,290
Building overheads/Venue rental 185,754 236,000
Marketing
Writers
Research&development		 . 112,474
48,921
9,160		 50,772
13,253
21,211
Community projects - 30,527
Access work 4,323 -
Engagement
Supportcosts (including non-direct salaries)		 62,486
1,129,872		 -
770,227
2,418,214 1,544,299
Education
Education projects i - 35,325
Support costs (including non-direct salaries) : - 117,308
* 152,633,
10. SUPPORT COSTS
2022 2021
. £ £
Salaries 789,189 832,759
Admin & overheads 112,277 75,405
Boxoffice charges ‘ 17,681 11,381
Front ofHouse 4,043 10,370
Café&Merchandise 3,764 2,559
Professional fees 20,750 36,073
ITcosts 39,261 20,758
Depreciation
Irrecoverable VAT		 . 188,451
85,152		 803
41,764
1,260,568
a		 1,031,872
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UNICORN THEATRE LONDON LTD

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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11. NET INCOMING/(OUTGOING) RESOURCES

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Net resources are stated after charging/(crediting):

2022 2021
£ £
Depreciation -owned assets 188,451 803
Otherpension costs 17,732 16,694
Auditors’ remuneration -audit 7,350
[ae		 7,350
——as
  1. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees’ remuneration or other benefits for the year ended 31 July 2022 nor for the year ended 31 July 2021.

No Trustee received remuneration or reimbursement of expenses (2021: None).

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Trustees’ expenses

There were no trustees’ expenses paid for the year ended 31 July 2022 nor for the year ended 31 July 2021.

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13. STAFF COSTS

STAFF COSTSCOSTS .
. 2022 2021
£ £
Wages and salaries 871,034 872,069
Social security costs 68,568 59,899
Other pension costs 17,732 16,694
‘ 987,334
[eo		 948,662
Bann
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Staff costs are split:
Support costs—Salaries 789,189 832,759
Charitable activities 168,145 115,903
957,334
———————		 948,662
—===_=
The averagemonthly number ofemployees duringthe yearwas as follows:
; 2022 2021
Production 6 5
Communications 3 3
Front ofHouse . 6 6
Box office 3 2
Development 2 3
ArtisticandAdmin E] : 8
: 29 27
—— —————-}

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Staff Costs shows full gross salary costs without the Enil (2021: £245,538} Job Retention Scheme claims for furloughed staff in 2021/22, which is shown in Other Income.

No employees received emoluments in excess of £60,000 (2021: none)

The total employee benefits of the key management personnel of the charity were £127,800 (2021: £119,345).

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NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2022

14. TANGIBLE FIXED ASSETS

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14. TANGIBLE FIXED ASSETS
Plant and
Landand = machinery etc
buildings Totals
‘ . £ £ £
cost
At 1August 2021		 : - 328,151 328,151
Transferred infrom UCC 8,138,487 5,710,786 13,849,273
Additions - 155,921 155,921
At 31July2022 8,138,487 6,194,858 14,333,345
DEPRECIATION
At 1August 2021 . 281,832 281,832
Transferred infrom UCC 2,547,047 5,648,759 8,195,806
Chargeforyear 162,770 25,681 188,451
At 31July 2022 2,709,817 §,956,272 8,666,089
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NETBOOKVALUE
At31 July 2022 5,428,670 238,586 5,667,256
At31July2021 . 46,319 46,319
A charge on the lease and the building has been given to the Principal Funders, namely Arts Council England, London and
London Borough ofSouthwark.
15. DEBTORS:AMOUNTS FALLING DUEWITHINONEYEAR
‘ 2022 2021
. £ £
Trade debtors 4,460 12,288
Amounts owed by participating interests : 195,382
Otherdebtors 160,960 36,665
TheatreTax Relief 193,204 14,753
358,624 259,088
16. CREDITORS:AMOUNTSFALLING FALLINGOUEWITHINONEYEAR 2022 2021
£ E
Trade creditors 172,125 46,745
Taxation and social security
Othercreditors		 18,683
50,331		 16,935,
43,152
Accrualsand deferred income 164,047 231,882
405,186
SS		 338,714
EE

A charge on the lease and the building has been given to the Principal Funders, namely Arts Council England, London and London Borough of Southwark.

15. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 .

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||||||| |---|---|---|---|---|---| |16A.|DEFERRED|INCOME| |2022|2021;| |£|£| |Balance b/fwd|at|1 August|172,649|292,877| |Income|released|in|the year|(317,186)|(201,377)| |Income|deferred|in the year|246,684|81,149| |Balance c/fwd|at 31 July|102,147|172,649|

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Income is deferred each year which represents advance ticket sales for the following season. Other deferred income is towards future production costs and includes two £30k donations for the year ending 2023.

  1. ANALYSIS OF NET ASSETS BETWEEN FUNDS

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|||||||| |---|---|---|---|---|---|---| |Unrestricted|Designated|Designated|Restricted2022|Total- funds2022| |fund|fund —|Fixed|fund|- Other|funds| |:|Asset|Reserve|:| |£|£|£|£|£| |Fixed|assets|238,586|5,428,670|-|.|5,667,256| |Current assets|1,216,569|-|350,000|61,094|1,627,663| |Current|liabilities|(405,186)|:|:|-|(405,186)| |1,049,969|5,428,670|350,000|61,094|6,889,733| |———=|——-.|...|———————|Poe|oa| |COMPARATIVES|FOR|ANALYSIS OF NET ASSETS OF NET ASSETS NET ASSETS ASSETS|BETWEEN|FUNDS| |2021| |.|Unrestricted|Designated|Restricted|Total|funds| |fund|fund — Other|funds| |OO|£|£|£|£| |Fixed|assets|46,319|-|-|46,319| |Current|assets| |Current|liabilities|(338,714)|-|-|(338,714)| |_|1,250,044|320,000|66,185|1,636,229| |a|957,649|~|320,000|66,185|1,343,834|

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17A. COMPARATIVES FOR ANALYSIS OF NET ASSETS OF NET ASSETS NET ASSETS ASSETS BETWEEN FUNDS

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022

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||||||||||| |---|---|---|---|---|---|---|---|---|---| |18,|MOVEMENT|IN|FUNDS| |Transfers|In for|Net movement| |:|UCC|in funds| |At|1/8/21|(note 22)|Transfers|At 31/7/22| |£|£|£|£|£| |Unrestricted|fund| |General fund|957,649|(173,117)|223,707|41,730|1,049,969| |Designated fund|-| |Fixed|Asset|Reserve|-|5,653,466|(162,770)|(62,026)|5,428,670| |Other|320,000|.|-|30,000|350,000| |’|1,277,649|5,480,349|60,937°|9,704|6,828,639| |Restricted|funds| |;|Theatre|productions|1,846|-|{1,000)|:|846| |Schools & Engagement Programme|2,223|-|||(2,223)|-|.| |;|Digital|57,786|-|15|>|‘57,801| |;|Usher|'|4,330|-|(1,883)|-|2,447| |Solar Panels|:|9,704|-|(9,704)|-| |66,185|9,704|(5,091)|(9,704)|61,094| |1,343,834|§,490,053|55,846|>|6,889,733| |Net|movement|in|funds,|included|in|the|above|are|as follows:| |:|Incoming|Resources|Movement|in| |resources|expended|funds| |£|£|£| |Unrestricted funds| |General|fund|2,296,081|(2,072,374)|223,707| |»|Fixed|Asset Reserve|-|(162,770)|(162,770)| |,|2,296,081|(2,235,144)|60,937| |Restricted|funds|:| |Theatre|Productions|151,000|(152,000)|(1,000)| |Schools &|Engagement|Pragramme|43,808|(46,031)|(2,223)| |Digital|125,000|(124,985)|15| |Usher|-|(1,883)|(1,883)| |Total|Restricted|319,808|(324,899)|(5,091)| |TOTAL FUNDS|2,615,889|(2,560,043)|55,846|

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Designated funds:

Fixed Asset Reserve

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This designated fund relates to the fixed assets transferred from Unicorn Children's Centre (UCC) on the merger. It represents the net book value of the charitable company’s building held within fixed assets. The transfer of £62,026 relates to the net book value of the charitable company’s equipment also held in the fixed assets which were moved into the unrestricted fund on the merger in line with the Unicom Theatre London fixed assets of the same category.

Other

, Funds set outside to cover contingencies such as shortfalls in box office and fundraising targets.

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UNICORN THEATRE LONDON LTD NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022. enn re

  1. MOVEMENT IN FUNDS ~ CONTINUED

Theatre Productions : Funds dedicated by funders and donors towards theatrical Productions. Amounts carried forward at 31 July have been received for programmes taking place in the 2022/23 financial year and beyond.

Schools & Engagement Programme

Funds dedicated by funders and donors towards the charity's learning and participation work. Amounts carried forward at 31 July have been received for programmes taking place in the 2022/23 financial year.

:

Digital

Funds dedicated by funders and donors towards Digital (online) Productions and Strategy. Amounts carried forward at 31 July may be allocated to cigital productions and projects taking place in the 2022/23 financial year and beyond.

Solar Panets

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Solar Panets Solar Panets Solar Panets Solar Panets Solar Panets Solar Panets Solar Panets
;
This restricted fund wastransferred to UnicornTheatreLondon fromthemerger ofUnicom Children's Centre. tt represents
theTheatre Improvement SchemefortheSolarPanelswhich were fitted to the Unicorn building in fate 2021.The Thetransfer in
the year represents the income being moved to the unrestricted fund as the Solar Panels have now been fitted and costs
capitalised. .
a
COMPARATIVES FOR MOVEMENT IN FUNDS
,
Net movement
in funds
At 1/8/20 Transfers At 31/7/21
£ £ £ £
Unrestricted fund ‘
General fund
Designatedfund		 449,066
320,000		 508,583
-		 :
:		 957,649
320,000
769,066 , 508,583 . 1,277,649
Restrictedfunds ;
Theatre productions 10,102 (8,256) : 1,846
Community&Access
.
Digital		 14,800
155,356		 (12,577)
(97,570)		 :
-		 2,223
57,786
Fundraising costs 2,000 . (2,000) - -
Usher - 4,330 - 4,330
182,258 (116,073) - 66,185
951,324
'7.];——ee		 392,510
ET		 ‘.
Sasa		 1,343,834
—S

18A. COMPARATIVES FOR MOVEMENT IN FUNDS

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NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2022 nn name ematmme emer emeereemzeentaaeeseaaenenieea

18A, COMPARATIVES FOR MOVEMENT IN FUNDS - CONTINUED

Net movement in funds, included in the above are as follows:

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Incoming Resources Movementin
° resources expended funds
‘ £ £ £
Unrestricted funds
General fund 2,114,997 (1,606,414) 508,583
Restricted funds
Theatre productions 41,500 (49,756) (8,256)
Schools & Engagement 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
eee eee eI
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  1. RELATED PARTY DISCLOSURES

There were no related party transactions during the year. : Inthe year ending 31 July 2021 two trustees of Unicorn Theatre London Ltd were also trustees of Unicorn Children's Centre, _ aclosely 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 to occupy this building according to a set of arrangements between the two companies. During 2020/21 Unicorn Theatre London Ltd paid £236,000 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.

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20. OPERATING LEASE COMMITMENTS

The charity hold total commitments under an operating lease as follows:

: 2022 2021
£ £
Expiry date:
Within oneyear 2,073
Between oneand fiveyears 309 772
2,382
_——————		 1,865
_—
—__—____4

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NOTES TO THE FINANCIAL STATEMENTS ‘ FOR THE YEAR ENDED 31 JULY 2022

21, COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES (YE 2021)

----- Start of picture text -----
||||||| |---|---|---|---|---|---| |Unrestricted|Restricted|Total|funds| |fund|funds| |INCOMING|RESOURCES|:|£|£|£| |Incoming|resources from|generated funds| |Voluntary income|1,780,899|123,607|1,904,506| |Investment income|‘|445|-|445| |Incoming resources from|charitable|activities| |Theatre|Productions|‘|67,995|.|67,995| |Education|120|-|120| |OtherManagement|fees charged to UCC|20,000|—_|20,000| |;|245,538|-|245,538| |Tota!RESOURCES IncomingEXPENDED resources|2,114,997|;|123,607|2,238,604| |Cost|of generating funds|149,162|-|149,162| |:|Charitable|activities|'| |Theatre Productions|1,373,903|170,396|1,544,299| |Education|83,349|69,284|152,633| |Total resources expended|1,606,414|239,680|1,846,094| |NET INCOMING|RESOURCES|508,583|(116,073)|392,510| |RECONCILIATION|OF|FUNDS| |Total funds|brought forward|769,066|___182,258|___951,324| |TOTAL FUNDS CARRIED FORWARD|__1,277,649|_____ 66,185| 1,343,834|

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22. Merger of Unicorn Children’s Centre

During 2020/21 the boards of Unicorn Theatre London Ltd and Unicorn Children’s Centre (UCC) decided that having two separate companies to represent the financial interest of the Unicorn Theatre was no longer beneficial to the organisation and voted to merge the two companies and transfer all the assets and liabilities of Unicorn Children’s Centre to Unicorn Theatre London Ltd. . .

The merger was completed on the 1 August 2021 and following assets and liabilities were transferred to Unicorn Theatre London Itd.

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|||||| |---|---|---|---|---| |Movement in| |.|funds| |TangibleDebtors|fixed|assets|.|5,653,4675,741| |Cash|at bank|-|40,047| |Creditors|(209,202)| |Net|assets acquired|5,490,053| |Represented|by:| |Restricted funds|9,704| |Unrestricted|funds|5,480,349| |Total funds funds|5,490,053|

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Total funds funds

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