OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2021-03-31-accounts

Little Angel Theatre

Annual Report and Financial Statements

31 March 2021

Charity Registration Number 232488

Contents

Reports

Reference and administrative details of
the charity, its trustees and advisers 1
3
report 20
Financial statements
Statement of financial activities 24
Balance sheet 25
Statement of cash flows 26
Principal accounting policies 27
Notes to the financial statements 32

Little Angel Theatre

Reference and administrative details of the charity, its trustees and advisers

Trustees C Owen (Chair)
J Bierman
L Cotton
E Lewis
L Le Roque
C Lowry
F Phillips
L Stanfield
S Wright
S Zhu
Secretary P Swindall
Principal office 14 Dagmar Passage
London
N1 2DN
Charity registration number 232488
Auditor Buzzacott LLP
130 Wood Street
London
EC2V 6DL
Bankers The Co-operative Bank
PO Box 250
Skelmersdale
WN8 6WT
Scottish Widows
67 Morrison Street
Edinburgh
EH3 8YJ
CAF Bank
25 Kings Hill
West Malling
Kent
ME19 4JQ

Little Angel Theatre 1

Reference and administrative details of the charity, its trustees and advisers

Solicitors Bolt Burdon Solicitors Providence House Providence Place Islington N1 0NT

Little Angel Theatre 2

Year to 31 March 2021

The Trustees, are pleased to present their annual report and accounts for the Little Angel year ended 31 March 2021.

The report has been prepared in accordance with Part 8 of the Charities Act 2011.

The financial statements have been prepared in accordance with the accounting policies set out on pages 27 to 31 of the attached financial statements and comply with the charity Constitution, the Charities Act 2011 and 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 United Kingdom and Republic of Ireland (FRS 102).

s Report

The 2020-21 financial year began in a time of crisis for Little Angel Theatre (LAT), as it did for all theatres and arts centres across the UK and the rest of the world. Two weeks after closing our doors, we were in the midst of cancelling what would have been an exciting season of shows - our primary means of connecting with our audience, and of raising income.

We are proud of our team and their response to the pandemic. Within a week of our doors closing, we had released our first piece of digital content, and to date our Watch, Make, Share series has included 20 digital puppetry shorts and hundreds of home-based activities for puppets and shows being made and shared across the globe.

Our content was watched 843,070 times by people worldwide; it has been a lifeline for families stuck at home throughout various lockdowns. We have learnt so much over the past year, steadily building on our digital skills to culminate in the launch of our first made-for-zoom show, Where the Bugaboo Lives, in March. We were awarded several OffComm awards

Delivering the Puppet Picnic festival at Islington Square in the summer was a highlight, and one of the first cultural live events following the initial lockdown. The audience reaction was very positive, and we were delighted to have created an event that families found safe and welcoming in such uncertain times. We are looking forward to welcoming families back into our buildings, with audience safety as our number one priority, alongside continuing our digital journey.

Our education department continued to work with our partner schools delivering predominately digital resources and support, aware that the pandemic was disproportionately impacting these children, and the importance of creative outlets at such a challenging time. Alongside this, our Community Engagement programme has continued to operate, providing opportunities for both adults and children to get creative, both digitally, in person, and through providing take-home craft packs, so that everybody can take part regardless of what technology or materials they might have at home. We also started work on transitioning our suitcase show (developed last year for children in hospitals, hospices and isolated settings) into a digital format so that it could tour early in the new financial year.

Little Angel Theatre 3

Year to 31 March 2021

(continued)

The organisation has made use of the government Job Retention Scheme, and secured fundraising from several Covid emergency funding sources in order to sustain our adapted operations. We are incredibly grateful to the individuals and funding bodies who have supported us, and we continue to actively diversify our income streams and seek philanthropic support to find our route out of this crisis. In spite of the difficulties of the current climate, we continue to adapt our output and corresponding business model. This includes: growing our fundraising income to subsidise digital and socially distanced performance models and our schools and community engagement programme; honouring living wage salaries throughout our staff and creative teams; reducing our environmental impact, whilst protecting and maintaining our cherished buildings; and committing to undertake the Inc Arts UK 1% challenge, allocating 1% of our budget to activity that adds ethnic and/or disability diversity to our work.

Our staff continue to be extremely resilient and resourceful, as have our wider network of puppeteers, designers and facilitators. We remain committed to supporting our freelance artists, taking part in the Freelance Task Force, employing 115 individuals over the course of the year and continuing with our professional development classes digitally throughout the pandemic. We have also made steps to address the lack of diversity in the industry, running a week of intensive puppetry training for black female identifying actors in the autumn, and launching a bursary scheme for our adult learning courses.

Catherine Owen Chairman of Trustees

Little Angel Theatre 4

Year to 31 March 2021

advance education, particularly by the production of educational plays, puppet shows, entertainments, tours and exhibitions. The Theatre also provides encouragement of the Arts, including the Arts of drama, mime, dance, puppetry, singing and music. Little Angel Theatre is a purposefor children.

We aim to fuel the imagination through the magic and wonder of puppetry. This is delivered through 4 key strands of work:

These activities are underpinned by prioritising and resourcing key operational activities such as understanding our audiences, investing in and developing our staff and other individuals that we work with, fundraising, investing in our buildings and infrastructure and embracing our heritage.

Public benefit

The Charity confirms that the Trustees have considered the Charity Comm on public benefit, including the guidance on public benefit and fee charging. The Theatre relies on grants and the income from fees and charges to cover its operating costs. In setting the level of fees, charges and concessions, the Trustees give careful consideration to the accessibility of the organisation for those on low incomes.

Little Angel Theatre 5

Year to 31 March 2021

Public benefit (continued)

The Theatre is situated in the heart of the London Borough of Islington. Islington is a complex, culturally diverse, and socially and economically deprived inner-city borough. It is the fifth most deprived London borough, and the twenty-forth most deprived area in England 1 in 3 children live in income deprived households, and 8,500 children in the borough are eligible for free school meals. We use puppetry to work with schools, families, local communities and people of all ages and backgrounds to encourage learning, increase confidence, creativity and imagination.

We run a Community Outreach Programme, where all activity is free, to deepen our engagement with disadvantaged members of the community, increasing the impact of all of our participation work and wider programme of activity. It comprises of projects with local community groups with people of all ages and backgrounds, utilising puppetry as a springboard to develop and encourage creativity, learning and community cohesion. Our ambition is to reach those who have never considered or had the opportunity to participate in creative pursuits and to ensure LAT serves the needs of its entire community in a creative principles:

Our Schools Partnership Programme works with five schools, delivering a year-long programme of activity with some of our closest schools, which we have continued to deliver digitally throughout the pandemic. We provide a wealth of opportunities for pupils and teachers, including access to shows, workshops and bespoke projects. Teachers also have access to training and support in bringing their curriculum to life via puppetry. It is an opportunity for local schools to engage with us on a much deeper level over a prolonged period of time and at a hugely subsidised cost.

In addition, Puppets for All is our flagship programme for offering free tickets and workshop places to those who most need them. This is complemented by our policy to keep ticket prices as low as possible and the vast majority of our digital content has been delivered free of charge, extending our accessibility and reach.

Every summer we throw open our doors and put on a free Summer Party for the local community unfortunately this was not able to take place this year due to restrictions, but we Church are awash with families enjoying face-painting, puppet making, live performances, cake sales, storytelling, backstage tours, and much more. Entry to the event and the activities are free, though people are welcome to make donations, which further supports our community work. The event is also supported by many local volunteers, some of whom have come to us through the Puppets for All scheme.

Little Angel Theatre 6

Year to 31 March 2021

Public benefit (continued)

While we keep all our prices as affordable as possible, we also use funds from our incomegenerating activities, including kids clubs and shows, to support our community work.

Review of activities 2020/21

Productions

to the digital landscape. Our content has been watched 843,070 times by people worldwide, and has been a lifeline for families stuck at home throughout various lockdowns.

Our Watch, Make, Share digital stream has been a resounding success, including 20 digital shorts, 4 recorded versions of productions (shared on YouTube and Zoom), and a brand new made-for-zoom, choose-your-own-adventure show. We have reached new audiences, continued working with artists, partnered with YouTube and had our work featured in The Guardian, The New York Times and on the BBC, to name a few.

We were lucky enough to be able to host in-person, socially distanced shows during the summer at our Puppet Picnic Festival at Islington Square. When planned in-person performances in November and December were cancelled, we quickly pivoted to offering our audiences high-quality digital alternatives. We will ensure that our learning about staging safe, socially-distanced events during the pandemic will inform our future procedures as we gear up to open our buildings once again.

Watch, Make, Share

22 productions, 843k views, 14k subscribers, 43k watch hours in 95 countries

I Want My Hat Back 13 Apr 1 Sept 2020 (YouTube 211k views) - Ian Nicholson, Samuel Wilde and Jim Whitcher in association with Little Angel Theatre. Based on the book by Jon Klassen. A bear politely searches for his hat.

This Is Not My Hat 3 May 1 Sept 2020 (YouTube 58k views) - Ian Nicholson, Samuel Wilde and Jim Whitcher in association with Little Angel Theatre. Based on the book by Jon Klassen. A tiny fish steals a hat.

We Found a Hat 24 May 1 Sept 2020 (YouTube 28k views) - Ian Nicholson, Samuel Wilde and Jim Whitcher in association with Little Angel Theatre. Based on the book by Jon Klassen. Two turtles both want to wear the same hat.

What Does An Anteater Eat? 17 May 1 Sept 2020 (YouTube 29k views) Toby Olié in association with Little Angel Theatre. Based on the book by Ross Collins. Anteater is hungry, but he has completely forgotten what anteaters actually eats!

S Space 14 June 2020 onwards (YouTube 7k views) - inspired by Little Angel nk. Meet Scoop the Junk Lady and listen to her stories told with things other people throw away.

Little Angel Theatre 7

Year to 31 March 2021

Review of activities 2020/21 (continued)

Watch, Make, Share (continued)

D Worry, Little Crab 21 June 31 July 2020 (YouTube and transfer to Manchester Literary Festival 9k views) - Folded Feather in association with Little Angel Theatre. Based on the book by Chris Haughton. Little Crab and Very Big Crab go on an adventure.

When... 28 June 30 Sept 2020 (YouTube 6k views) - Pinwheel Theatre in association with Little Angel Theatre. Based on the book by Emma Dodd. One little bear shares his hopes and dreams.

Moon River 5 July 31 Dec 2020 (YouTube 9k views) - Little Angel Theatre production. Based on the book by Tim Hopgood. A retelling of the song by Henry Mancini and Johnny Mercer.

What a Wonderful World 12 July 30 Sept 2020 (YouTube 6k views) - Little Angel Theatre production. Based on the book by Tim Hopgood. A retelling of the song by George Weiss and Robert Thiele.

The Little Fish 26 July 2020 onwards (YouTube 10k views) Lyndie Wright, Sarah Wright and Mike Shepherd in association with Little Angel Theatre. A curious little fish wants to explore the big, wide world.

Flyboy and the Robot 9 Aug 2020 8 Aug 2021 (YouTube 8k views) - Matthew Robins in association with Little Angel Theatre. Flyboy makes a new friend.

T a Bear on My Chair 23 Aug 1 Nov 2020 (YouTube / OnComm finalist 11k views) - Toby Olié in association with Little Angel Theatre. Based on the book by Ross Collins. Mouse tries to get rid of an unwelcome visitor.

27 Sept 2020 onwards (YouTube 3k) - a Little Angel Theatre production. Scoop the Junk Lady tells a new story, written by Jon Barton. Clever Cakes 1 Nov 2020 onwards (YouTube / OnComm finalist 111k views, incl on - a Little Angel Theatre and Kids Poems and Stories with Michael Rosen co-production. Based on the book by Michael Rosen. Masha outwits a greedy bear.

Mother Christmas 4 Dec 2020 onwards (YouTube 142k views) a Little Angel Theatre production. We go behind the scenes as Mother Christmas saves the day.

The Night Before Christmas 24 Dec 2020 5 Jan 2021 (YouTube 1k views) - Alison Alexander in association with Little Angel Theatre. A shadow theatre retelling of the classic poem by Clement Clarke Moore.

The Bed 25 Dec 2020 - a Little Angel Theatre production. A recording of our show for babies and toddlers, based on the poem by Sylvia Plath.

Little Angel Theatre 8

Year to 31 March 2021

Review of activities 2020/21 (continued)

Watch, Make, Share (continued)

Me... 25 Dec 2020 - a Little Angel Theatre production. A recording of our Christmas show based on the book by Emma Dodd.

The Girl and the Raven 17 Jan 2021 - 16 Jan 2022 (YouTube 4k views) - Handbendi in association with Little Angel Theatre. An adaptation of the Icelandic folk legend.

The World of Sound Scribbles 28 Feb 2021 27 Feb 2022 (YouTube 1k) - a Little Bean in association with Little Angel Theatre. Part of CAN Festival 2021. Sensory exploration of sound for babies.

Envis and Outo 21 Mar 2021 20 Mar 2022 (YouTube <1k) - Samantha Sutherland in association with Little Angel Theatre. A snowflake is nervous to go on a journey.

Suitcase Circus 28 Mar 2021 27 Mar 2022 (YouTube 1k) - Folded Feather in association with Little Angel Theatre. A circus made of discarded things.

Digital Performances

As well as releasing digital shows on our YouTube channel, we presented two hybrid shows in the year which featured live and pre-

Reach for the Stars 7 Nov 6 Dec 2020 (Zoom and in person) - a Little Angel Theatre production. Inspired by the life of Mae Jemison, Nat overcomes her greatest fears.

Wow! Said the Owl 2 Dec 2020 3 Jan 2021 (Zoom and in person) - a Little Angel Theatre production. Based on the book by Tim Hopgood. A curious little owl explores the wonderful world of colours.

Bugaboo 14 Mar 2 May 2021 (Zoom) - a Little Angel Theatre production. Based on the book by Sean Taylor. Floyd and Ruby meet a menagerie of monsters.

Puppet Picnic

We partnered with Islington Square for a two-week-long outdoor puppetry festival, including a revival of our production The Slightly Annoying Elephant , three visiting companies, Smoking Apples Theatre Company with Arbor the Tree , Don Quixote and Cloud Travellers , craft workshops and giant walkabout puppets.

On Tour

The pandemic has had such an impact on the sector that we have not been able to tour any ear Hunt and Wolves in the Walls all had tours booked at the start of the year, however their runs were cut short by the Coronavirus lockdown in March 2020.

Little Angel Theatre 9

Year to 31 March 2021

Review of activities 2020/21 (continued)

On Tour (continued)

We have however experimented with digital touring, visiting 44 schools across the country, from Glasgow to Ross-on-Wye, entering classrooms via the magic of Zoom; and have engaged with audiences from CAST Doncaster, The Albany and Nottingham Lakeside Arts as part of our virtual tour of Where the Bugaboo Lives.

Community

Our Community Engagement Programme is now well embedded, and continues to be delivered by a funded Community Engagement Manager. All of our community work is offered for free and is therefore made possible by the generous funding from Islington Council, trusts, foundations and donations from some very wonderful individuals. The pandemic hit our local community hard, with 47% of Islington residents reporting decreased mental wellbeing during this time. We have continued to offer opportunities for both adults and children to get creative, both digitally, in person, and through providing take-home craft packs, so that everybody can take part regardless of what technology or materials they might have at home. Projects and partnerships this year have included:

Adult Art and Chat throughout the first lockdown, a Whatsapp group was set up for Sebbon Street residents to enable sharing of information about local services, food banks and other advice; to support each other with tasks such as shopping and dog walking; and to reduce isolation. 12 neighbours signed up to the group, who then suggested weekly video calls and group exercise sessions to encourage indoor exercise and to stay healthy. Later on in the year, they were able to meet up in person outside the Studios in socially-distanced groups of six, and Little Angel ran a mixture of in person and online scrapbooking workshops.

Family Crafternoons o ur drop-in craft sessions continued in a variety of forms this year, including socially distanced sessions outdoors during the summer, Zoom sessions (with craft packs distributed with materials for those who did not have access to them at home), and YouTube videos enabling families to follow along in their own time.

in early 2021 we ran two 3-week Aid. One was designed for women and their children to explore play and conversation together through puppetry; and the other was aimed at women without children to find their inner child and share a creative experience with other survivors of domestic violence.

Fun Palaces in October we held a weekend of free, socially distanced workshops centred around Black History Month, involving storytelling and shadow puppet making. All sessions were fully booked and well received with children excited to make their own shadow puppets for the first time.

Little Angel Theatre 10

Year to 31 March 2021

Review of activities 2020/21 (continued)

Creative Learning Schools, Courses and Classes

We believe passionately in the value of participatory arts, and our work with schools is vital to ensure we are reaching a wide range of children, some of whom may not otherwise access the theatre. The pandemic has disproportionately affected these children, and we have worked hard, alongside the council and senior leaders at our local partner schools, to continue to offer them a creative outlet, both digitally and in person when restrictions have allowed.

During 202 ~~0 2~~ 021 we have worked with five local partner schools in total spanning two academic years. The Partnership Programme allows pupils who would not normally be able to access our work outside of school because of financial or social barriers, to benefit from our shows and workshops. The programme enables the schools to provide opportunities where normally costs would be a barrier. During the pandemic we have continued to engage with our partner schools providing them with predominantly online resources, performances and workshops, however when restrictions have allowed we have also been able to provide some much-valued live experiences. In the autumn term we provided digital performances of Reach for the Stars with additional interactive workshop content for targeted children in William Tyndale School. The workshops involved pupils making a puppet to represent their future selves. The creative process gave them the opportunity to reflect on their aspirations and sparked discussion around aspirations, inspired by the show. The sessions culminated in making a film using their puppets which was shared online.

Working as part of Islington young people in the borough with at least 11 cultural experiences by the time they reach Year 11 (11by11), we have provided shows and workshop experiences for many children who would not otherwise have had the opportunity to engage with us (both live and online). Despite the challenging circumstances we have also run workshops for 200 children in other schools or educational settings across London and the rest of the UK this year.

The pandemic has meant that we have had to focus more heavily on ways of reaching and supporting schools remotely, and we have worked very hard to expand our digital offering. We created targeted at children learning at home, as well as three digital packages designed specifically for schools and linked to the curriculum. These are available for schools to buy online and our partner schools are given free access. These packages are an affordable way for schools to access our work from a distance, meaning that schools all over the country, and even the world, can benefit from support with delivering a more creative curriculum.

Little Angel Theatre 11

Year to 31 March 2021

Review of activities 2020/21 (continued)

Creative Learning Schools, Courses and Classes (continued)

We were not able to deliver our live making and performing puppetry classes this year. However, Spectrum Youth Theatre for young people on the Autistic Spectrum continued to run during the pandemic. The online transition was a great success with participants, who were thrilled to be able to keep the group together and continue to make fantastic work with the support of the team from Smoking Apples Theatre Company. They have created two wonderful puppet films, collaborating to plan the stories, make the puppets and film their own sections. These were then edited together to make the finished films, which premiered for friends and family during the final session of each term and can be viewed on our YouTube channel. We also ran a variety of creative workshops on zoom over the school holidays, guiding young people through creating their own puppets using recycled materials easy to find around the home. We even managed to fit in a few socially distanced workshops as part of our Puppet Picnic Festival in the summer.

Professional Development & Emerging Artists

This has been an exciting year for our professional development programmes. Moving our puppetry training courses online has enabled us to welcome participants from across the UK and worldwide, with dedicated aspiring puppeteers wrangling time zones and differing levels of lockdown to work together and learn new skills (337 participants from 23 countries). We also launched a new bursary scheme , offering one place on each course for free to a We delivered our Foundation Course, Adult Ensemble and a wide variety of makers and performers classes. The Guildhall MA Collaborative Theatre Production and Design students also returned to work with us digitally this year. They created a digital show and accompanying workshop which toured local community venues, local partner schools and schools further afield in Mexico and Italy.

Statistics and Year-on-Year Comparisons

----- Start of picture text -----
Digital Views
Performances Attendance Performances Attendance
Performances
Year In-House In-House on Tour on Tour
2020-21 21 1,113 n/a n/a 25 843k
2019-20 938 58,212 432 41,042
2018-19 929 56,620 469 40,306
2017-18 870 56,740 410 28,099
2016-17 747 51,756 413 37,883
----- End of picture text -----*

*puppet picnic festival in Islington Square (socially distanced audience)

Little Angel Theatre 12

Year to 31 March 2021

Key developments in year ended March 2021

Financial position

Following the closure of the live theatre sector in March, we quickly shifted our output to a digital model, realising there was a need to support our audiences and beneficiaries through this difficult time, and refocused attention on fundraising to subsidise this content, making it as accessible as possible. We have been fortunate in managing to secure the subsidy that we needed to deliver this - the organisation has made use of the government Job Retention Scheme, and secured grants from several Covid emergency funding sources, including the Arts Council England / DCMS, Garfield Weston and Julia & Hans Rausing Trust in particular, in order to sustain our organisational infrastructure and continue with a meaningful output.

Where usually nearly two thirds of our income would be derived from our primary activities: ticket sales for in-house shows, fees paid to us by venues for our touring productions, and tickets and fees received for delivery of our education and community work - this year over 80% of our income came from grants and donations.

Total philanthropic giving came to £1,271,061 (as detailed in Notes 1 & 2 of the financial statements), this is an increase of over 100% on the previous year this has principally been from Covid recovery / support funding sources. As always, we are grateful to a large number of individuals who have given donations or become members, their ongoing support has been particularly meaningful this year.

The Statement of Financial Activities shows total reserves amounting to £2,215,021 with net surplus for the year of £593,006 as disclosed in the financial statements. Reserves include £1,506,693 of unrealised funds, with a further £386,667 of unrestricted funds.

Little Angel Theatre 13

Year to 31 March 2021

Financial position

Out of the total of £386,667 of unrestricted funds, £71,529 were designated to specific purposes, £86,051 were represented by tangible fixed assets and £23,307 related to the investment property. The charity therefore held £205,780 free reserves as at 31 March 2021 (see reserves section below for more detail on our reserves policy).

Nearly 90% of our expenditure was ploughed straight into our charitable activities throughout the pandemic we have remained dedicated to supporting our beneficiaries, creating opportunities for our freelance family of artists, retaining our staff team and maintaining our cherished buildings.

There are three designated funds one for improvements to the fabric of the theatre building; a second to encourage and enable artistic innovation in future programming and a third relating to grant income that has been received in the current financial year, but has been committed to / ringfenced against activity which is taking place in the next financial year.

Investment powers

Under the constitution, the charity has the power to make any investment decisions that the Trustees see fit.

Reserves policy

It is the policy of the Theatre to maintain unrestricted funds, which are the free reserves of the Theatre, at a level which equates to approximately 3 months of committed unrestricted expenditure. The aim of the reserves policy is to set it at such a level that we are able to maintain cash flow and provide funds to cover management, administration and support costs for a period of 3 months. Our stated unrestricted expenditure includes many items that would not be committed to without either securing related income in advance or are not contracted and would not be expended if the organisation was not operational - for example, touring, visiting company activity, schools workshops, some creative learning projects, merchandise cost of sales, casual staffing, etc.

Currently we hold free reserves of £205,780. This is in line with our policy, and ensures that we are in good stead to weather further uncertainty as we navigate our way through this new operating landscape.

Fundraising policy

We are grateful to the many charitable trusts, individuals and organisations who make generous financial contributions towards our work. We are reliant on private and philanthropic income to maintain our activity. We monitor and control our fundraising activities, to ensure that our supporters have a positive experience and are treated fairly. We follow the Institute donor details as we understand that they have trusted us with their money and information. Fundraising activity is included on our risk register to ensure that it can be managed accordingly and forms part of regular board reporting processes. We are committed to ethical fundraising and foster a culture of utmost respect for donor choice and have not received any complaints in the year.

Little Angel Theatre 14

Year to 31 March 2021

Plans for future periods

In November 2021 LAT will be celebrating its 60th birthday we are planning to build back from the challenges of the last year with work to celebrate our rich history, reengage with our audience and community and look forward to the future of both the organisation and this exciting and innovative artform. The year starts with an adventure-style play, as we continue to find advanced and innovative ways to engage our audiences digitally with a new production of the interactive story, Where the Bugaboo Lives . Each performance will be different as goes. Following this, we cannot wait to welcome audiences safely back to our theatre, to see our new production of Julia Don The Smartest Giant in Town , and look forward to collaborating with Fiery Light for the first time. We are also launching a new digital interview series People Behind the Puppets to celebrate 60 years of world-class artistry at the heart of Little Angel. We hope it will inspire the next generation of puppet makers.

Now at a time when young people in hospital feel more isolated than ever, we are proud to have created a digital version of (our suitcase show created from ideas and stories from young people at Great Ormond Street) enabling it to tour again in a Covidsafe way this summer. We also intend to brighten up the streets of Islington with a special project this June, The Wishing Tree , inspired by a new poem by Joseph Coelho, which will be crafted into a brand-new play based on work with local school children and community groups. Our community is at the heart of everything we do and this is a wonderful chance to celebrate our birthday with them. Inspired by Greenpeace campaigns, we will be launching a major new production -tan in my Bedroom and other stories in September, followed by the world premiere of a musical adaptation of There May be a Castle in November.

We have been overwhelmed by the response from children, local and far afield, to our Watch, Make, Share digital series created in response to lockdown. We hope it has made a difficult time a bit brighter for our young audiences and are thrilled to be able to continue to create new plays and activities for families to enjoy for free throughout the year to come. It has been very difficult to generate income from digital activity (audiences are used to accessing similar content for free), but we feel very strongly that these resources need to be accessible and easy to use and we are planning to continue to deliver these activities alongside our live output going forwards. As a result, our financial model has shifted more towards fundraising to support this and continue to work with our local schools and community. We have been fortunate in managing to secure the subsidy that we needed to deliver these outputs to date, and, looking forward to the 2021/22 financial year, we have already secured 80% of our fundraising target, which will support our re-opening costs, subsidise socially distanced operations and enable us to celebrate our 60th anniversary year.

Little Angel Theatre 15

Year to 31 March 2021

Plans for future periods (continued)

We continue to offer professional development courses and classes digitally (discovering an entirely new, international audience for this output) and are making plans to shift to a hybrid model, with some courses returning in person, and some remaining remote. Last year has also highlighted the lack of diversity in the puppetry sector, and we are committed to addressing this in the coming years, offering more professional development and employment opportunities to underrepresented groups, including training for emerging puppeteers and designers. We will continue to run our schools partnership programme with eight Islington primary schools (this includes three new schools; previously we had five partners); and we will continue to run our community engagement programme, delivering weekly sessions for local residents and a number of bespoke projects.

Going concern

We have considered the ongoing effects of the outbreak of Covidoperations and have concluded that the impact on it is likely to be manageable. We have adapted our business plan and operations, facilitating meaningful output and have a detailed plan that enables an effective operation to continue in a variety of possible scenarios, including both live and digital outputs.

Trustees acknowledge and recognise there is an ongoing potential impact of the Covid-19 pandemic on the operations of the charity, its beneficiaries, partners and stakeholders and on wider society. As well as the personal risk to health of its staff, the charity may lose planned income as the result of the cancellation of events and/or the absence of key personnel, although there may be some expenditure savings also. It is not anticipated at the current time that the overall financial position of the charity will be adversely affected or its financial solvency threatened, and that these risks are being proactively and effectively managed.

Structure, Governance & Management

Governing document

The Theatre is constituted as a charitable incorporated organisation (CIO) and is therefore governed by its constitution.

Appointment of Trustees

Apart from the first charity trustees (who have defined terms in the constitution), every trustee must be appointed for a term of three years by a resolution passed at a properly convened meeting of the charity trustees. A charity trustee who has served for one term may be reappointed for a second consecutive term but may not be reappointed for a third term without an interval of at least one year.

Trustee induction and training

New Trustees receive an information pack to brief them on their legal obligations under meet key employees and other Trustees. Trustees are encouraged to attend appropriate external training events where these will facilitate the undertaking of their role.

Little Angel Theatre 16

Year to 31 March 2021

Structure, Governance & Management (continued)

Trustees

The following served as Trustees during the year and up to the date of signing this report, except where shown:

Trustee Appointed / Retired / Resigned
J Bierman
L Cotton Appointed 17 June 2020
E Lewis Appointed 17 June 2020
L Le Rocque Appointed 14 January 2021
C Lowry
F Phillips Retired 10 June 2021
C Owen (Chair)
L Stanfield
S Wright
S Zhu Appointed 10 June 2021

Organisation

The Board of Trustees administers the Charity. The Board meets at least quarterly and there is a sub-committee covering finance that meets more regularly. The Chief Executive is appointed by the Trustees to manage the day-to-day operations of the Charity Artistic Director Samantha Lane has been in this post since June 2015. To facilitate effective operations, the Chief Executive alongside other key management personnel (the Executive Director, the Senior Producer, the Head of Development and the Head of Creative Learning) have delegated authority, within terms of delegation approved by the Trustees, for operational matters including finance, employment and artistic performance related activities.

Related parties

The Charity works collaboratively with other theatres. Certain trustees and key management personnel have roles at other theatres. Further details are provided within the notes to the financial statements.

Risk management

The Trustees have a risk management strategy which comprises:

Little Angel Theatre 17

Year to 31 March 2021

Structure, Governance & Management (continued)

Risk management (continued)

The Trustees have assessed the major risks to which the Theatre is exposed, in particular the ongoing uncertainty around the impacts of Covid-19, reliance on successful fundraising performance, the overstretching of human resources, fostering an environment in which the creative team are able to take risks and those related to the operations, policies, procedures and finances of the Theatre. They are satisfied that systems are in place to mitigate our exposure to the major risks identifying specific areas of risk and giving an impetus for better planning through regular review of the organizational risk register. A key element in the management of financial risk is the setting of a reserves policy and its regular review by the Trustees.

Key strategic risks which are currently being closely monitored and reviewed include:

Key management personnel

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the members of the Board, the Artistic Director/Chief Executive, the Executive Director, the Head of Production, the Head of Development and the Head of Creative Learning. The organisation has a salary scale with bands covering all personnel within the organisation, including Key Management Personnel. Changes to levels of pay for employees can be made in line with this document and alongside the annual appraisal process, with objectives linked to the key strategic aims of the organisation, that all permanent employees complete. Salaries are benchmarked annually and scale is reviewed by the Executive in response to this and adjusted where appropriate and financially deliverable, subject to the approval of the Board. Executive pay reviews follow a similar model, however they are undertaken by the Board.

The trustees are res accounts in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Little Angel Theatre 18

Year to 31 March 2021

(continued)

The law applicable to charities in England and Wales requires the trustees to prepare accounts for each financial year, which give a true and fair view of the state of affairs of the charity and of the income and expenditure of the charity for that period. In preparing these accounts, the trustees are required to:

select suitable accounting policies and then apply them consistently;

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the accounts comply with the Charities Act 2011, applicable Charity (Accounts also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the charity and financial the preparation and dissemination of accounts may differ from legislation in other jurisdictions.

This report was approved by the board on and authorised to sign on its behalf by

Catherine Owen - Chairman of Trustees

Little Angel Theatre 19

Year to 31 March 2021

trustees of Little Angel Theatre

Opinion

for the year ended 31 March 2021, which comprise the statement of financial activities, the balance sheet, the statement of cash flows, the principal accounting policies and the notes to the accounts. The financial reporting framework that has been applied in their preparation is applicable law and Generally Accepted Accounting Practice).

In our opinion, the accounts:

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 independent of the charity in accordance with the ethical requirements that are relevant to our audit of the accounts in the UK, including the 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

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 when the financial statements are authorised for issue.

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

Little Angel Theatre 20

Year to 31 March 2021

Other information

The other information comprises the information included in the annual report and financial are responsible for the other information contained within the annual report and financial statements. 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 to a 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.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters in relation to which the Charities Act 2011 requires us to report to you if, in our opinion:

Responsibilities of trustees

As explained more fully in the responsibilities statement, the trustees are responsible for the preparation of the accounts and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of accounts that are free from material misstatement, whether due to fraud or error.

continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charity or to cease operations, or have no realistic alternative but to do so.

Little Angel Theatre 21

Year to 31 March 2021

Our objectives are to obtain reasonable assurance about whether the accounts as a whole are free from material misstatement, whether due to fraud or error, and to issue an report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

We assessed the susceptibility of the charity obtaining an understanding of how fraud might occur, by:

Little Angel Theatre 22

Year to 31 March 2021

(continued) In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

reading the minutes of meetings of those charged with governance; and

enquiring of management as to actual and potential litigation and claims.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the trustees and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

website at www.frc.org.uk/auditorsresponsibilities. This descrip report.

Use of our report

of the Charities Act 2011 and with regulations made under section 154 of that Act. Our audit work has 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 opinions we have formed.

Buzzacott LLP Statutory Auditor 130 Wood Street London EC2V 6DL

Date: 03 December 2021

Buzzacott LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Little Angel Theatre 23

Statement of financial activities 31 March 2021

Notes Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Income and endowments from:
Donations and legacies
. Donations
1
. Grants
2
Charitable activities
. Show, touring and education
3
Other trading activities
. Refreshment/merchandise income
Investment
4
Other sources
Total
Expenditure on:
Raising funds
5
Refreshment/merchandise
6
Management investment
7
Charitable activities
. Shows
8
. Touring
8
. Education
8
Total
Net income (expenditure)
Other recognised gains (losses)
Unrealised gains on investment
assets
21
Net movement in funds for the
year
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 86,554
644,047
128,852
2,772
62,228
14,022		 540,460 86,554
1,184,507
128,852
2,772
62,228
14,022		 58,804
4,643
1,006,528
41,596
65,537
93		 19,432
376,165		 78,236
380,808
1,006,528
41,596
65,537
93
938,475 540,460 1,478,935 1,177,201 395,597 1,572,798
59,373
18,828
19,000
318,387
92,720
158,823		 14,489
115,621
88,688		 73,862
18,828
19,000
434,008
92,720
247,511		 17,518
42,263
28,460
744,407
242,154
166,865		 59,028
80,365
78,490
177,714		 76,546
42,263
28,460
824,772
320,644
344,579
667,131 218,798 885,929 1,241,667 395,597 1,637,264
271,344
80,000		 321,662 593,006
80,000		 (64,466) (64,466)
351,344 321,662 673,006 (64,466) (64,466)
1,542,015 1,542,015 1,606,481 1,606,481
1,893,359 321,662 2,215,021 1,542,015 1,542,015

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The notes on pages 32 to 40 form part of these accounts.

Little Angel Theatre 24

Balance sheet 31 March 2021

Notes 2021
£		 2021
£		 2020
£		 2020
£
Fixed assets
Intangible assets
14
Tangible assets
15
Investments
16
Current assets
Stock
Debtors
17
Cash at bank and in hand
Current liabilities
Creditors: Amounts falling due
within one year
18
Net current assets
Net assets
The funds of the charity
Restricted funds
22
Unrestricted funds
. General funds
21
. Designated funds
21
. Revaluation reserve
21		 5,824
230,080
514,671		 86,051
1,530,000		 6,446
151,134
142,538		 1,772
71,287
1,450,000
1,616,051
598,970		 1,523,059
18,956
750,575
(151,605)		 300,118
(281,162)
2,215,021 1,542,015
321,662
315,137
71,529
1,506,693		 97,380
17,942
1,426,693
2,215,021 1,542,015

Approved by the trustees and signed on their behalf by:

Catherine Owen

Approved on:

The notes on pages 32 to 40 form part of these accounts.

Little Angel Theatre 25

Statement of cash flows Year to 31 March 2021

Notes 2021
£		 2020
£
Cash flows from operating activities:
Net cash provided by (used in) operating activities
A
Cash flows from investing activities:
Rental income received
Fixed asset purchases
Interest received
Net cash provided by investing activities
Change in cash and cash equivalents in the year
Cash and cash equivalents at 1 April 2020
B
Cash and cash equivalents at 31 March 2021
B		 342,125 (63,442)
62,142
(32,220)
86		 65,446
(8,754)
91
30,008 56,783
372,133
142,538		 (6,659)
149,197
514,671 142,538

Notes to the statement of cash flows for the year to 31 March 2021.

A Reconciliation of net movement in funds to net cash used in operating activities

----- Start of picture text -----
2021 2020
£ £
Net movement in funds (as per the statement of financial activities) 673,006 (64,466)
Adjustments for:
Amortisation charge 1,772 1,780
Depreciation charge 17,456 26,467
Loss on disposal of tangible fixed assets
Interest receivable (86) (91)
Rental income receivable (62,142) (65,446)
Decrease(Increase) in stock 622 (2,074)
(Increase)decrease in debtors (78,946) 207,143
Decrease in creditors (129,557) (166,755)
Unrealised gain on revaluation (80,000)
Net cash used in operating activities 342,125 (63,442)
----- End of picture text -----

B Analysis of cash and cash equivalents

2021
£		 2020
£
Total cash and cash equivalents:cash at bank and in hand 514,671 142,538

Little Angel Theatre 26

Principal accounting policies 31 March 2021

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are laid out below.

Basis of preparation

These financial statements have been prepared for the year to 31 March 2021 with comparative information given in respect to the year to 31 March 2020.

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant accounting policies below or the notes to these financial statements.

The financial statements have been prepared in accordance with 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 United Kingdom and Republic of Ireland (Charities SORP FRS 102) issued on 16 July 2014, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The accounts are presented in sterling and are rounded to the nearest pound.

Assessment of going concern

The trustees have assessed the position of the charity as a going concern in preparing this report and financial statements. They have made this assessment, in respect of a period of operational plan and response to the Coronavirus pandemic; budgets and cashflow forecasts to 31 March 2023; the forecast reserves position at 31 March 2023; its evolving plans for the period to 31 March 2023; and its commitment to moving to a more flexible and financially viable business model.

Little Angel Theatre has secured 100% of the fundraised income that it requires to balance its budget in the current (2021-22) financial year at the point of signing off these financial statements. This year the organisation is relying more heavily on earnt income as the live programme of output continues to grow, but these projections are conservative. Funding secured includes significant income from the Cultural Recovery Fund (Arts Council England), as well as grants from a mixture of pre-existing and new funders.

Recognising that Little Angel depend on continued forward secured funding, the Trustees have considered several factors in concluding that the adoption of the going concern basis in the preparation of these financial statements is appropriate. These have included:

Little Angel Theatre 27

Principal accounting policies 31 March 2021

Assessment of going concern (continued)

After making this assessment the Trustees are confident the organisation has adequate resources to operate for the foreseeable future and can adopt the Going Concern basis in preparing its financial statements.

The trustees have concluded that there are no material uncertainties related to events or conditions that may cast significant doubt on the ability of the charity to continue as a going concern, and the charity will have sufficient resources to meet its liabilities as they fall due.

Critical accounting estimates and areas of judgement

The preparation of the accounts in compliance with SORP FRS 102 requires the use of certain critical accounting estimates. It requires also that management and Trustees exercise

In the view of the trustees, no assumptions concerning the future or estimation uncertainty affecting assets or liabilities as the balance sheet date are likely to result in a material adjustment to their carrying amounts in the next financial year. In addition to the above, the full impact following the emergence of the global coronavirus pandemic is still unknown. It is activities, beneficiaries, funders, suppliers and the wider economy. Estimates used in the accounts are subject to a greater degree of uncertainty and volatility. As set out in these pandemic on the charity and have concluded that although there may be some negative consequences, it is appropriate for the charity to continue to prepare its accounts on the going concern basis.

In preparing these accounts, the Trustees have made significant estimates and judgements in the following areas:

Little Angel Theatre 28

Principal accounting policies 31 March 2021

Critical accounting estimates and areas of judgement (continued)

Estimating any provision for bad or doubtful debts; and

Estimating and recognising accrued expenditure.

Income recognition

Income is recognised in the period in which the charity is entitled to receipt and the amount can be measured with reasonable certainty. Income is deferred only when the charity has to fulfil conditions before becoming entitled to it or where the donor or funder has specified that the income is to be expended in a future accounting period.

Donations are received by way of cash and gifts and are included in full in the Statement of Financial Activities when receivable. Cash donations are included as income when they are received. Gifts donated for resale are included as income when they are sold. Donated assets are included at the value to the charity where this can be quantified and a third party is bearing the cost. The value of services provided by volunteers has not been included.

Grants, are recognised in full in the Statement of Financial Activities in the year in which they are receivable.

Income from charitable activities represents the total value of box office income, income from tours and education, received by the charity from customers during the year, excluding value added tax.

Trading income from merchandising and refreshments from shows is recognised on receipt.

Rental income from the investment property is recognised over the period of the agreement.

Interest on funds held on deposit is included in the year in which it is receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the bank.

Expenditure recognition

Expenditure is included in the statement of financial activities when incurred and includes any attributable VAT which cannot be recovered.

Expenditure comprises the following:

Little Angel Theatre 29

Principal accounting policies 31 March 2021

Allocation of support and governance costs

Support costs represent indirect charitable expenditure. In order to carry out the primary purposes of the charity it is necessary to provide support in the form of personnel development, financial procedures, provision of office services and equipment and a suitable working environment.

Governance costs comprise the costs involving the public accountability of the charity (including audit costs) and costs in respect to its compliance with regulation and good practice.

Support costs and governance costs are apportioned based on the estimated staff time spent on raising funds, charitable activities and associated ancillary trading activities, and managing the investment property.

Intangible fixed assets and amortisation

Goodwill 5% on cost

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

Tangible fixed assets and depreciation

Fixed assets are included at cost and depreciation is provided at rates calculated to write off the cost less residual value of each asset over its expected useful life, as follows:

Freehold land and buildings 2.5% on cost Fixtures, fittings and equipment 20% reducing balance Motor vehicles 25% on cost Lighting system 10% on cost IT equipment 20% on cost Leasehold improvements 10% on cost

Investments

The valuation of the investment property, which is rented out to third party tenants, is based on current open market valuation. These properties are not depreciated.

Unrealised gains (or losses) on the investment property are calculated as the difference between the open market value at the year end and the carrying value at that date. Unrealised gains (or losses) are credited (or debited) in the year in which they arise.

Stock

Stock is stated at the lower of cost and net realisable value.

Debtors

Debtors are recognised at the settlement amount, less any provision for non-recoverability. Prepayments are valued at the amount prepaid. They have been discounted to the present value of the future cash receipt where such discounting is material.

Little Angel Theatre 30

Principal accounting policies 31 March 2021

Cash at bank and in hand

Cash at bank and in hand represents such accounts and instruments that are available on demand or have a maturity of less than three months from the date of acquisition.

Creditors and provisions

Creditors and provisions are recognised when there is an obligation at the balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Creditors and provisions are recognised at the amount the charity anticipates it will pay to settle the debt. They have been discounted to the present value of the future cash payment where such discounting is material.

Basic financial instruments

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.

Fund structure

Restricted funds comprise monies raised for, or their use restricted to, a specific purpose, or contributions subject to donor imposed conditions.

General funds represent those monies which are freely available for application towards achieving any charitable purpose that falls within the charity's charitable objects.

Designated funds are monies set aside of unrestricted general funds and designated for specific purposes by the trustees.

property.

Leases

Rentals applicable to operating leases where substantially all the benefits and risks of ownership remain with the lessor are charged on a straight line basis over the lease term.

Pensions

Contributions in respect of defined contribution pension schemes are charged to the contributions are restricted to the contributions disclosed in note 11. There were no outstanding contributions at the year end. The charity has no liability beyond making its

Taxation

The Little Angel Theatre is a registered charity and therefore not liable to income tax or corporation tax on income derive from its charitable activities, as it falls with the various exemptions available to registered charities.

Little Angel Theatre 31

Notes to the financial statements 31 March 2021

1. Income from donations

----- Start of picture text -----
2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Members 1,540 1,540 2,053
Corporate 3,712
Regular, one-off and other donations 85,014 85,014 72,471
Total 2021 86,554 86,554 78,236
2020
Unrestricted Restricted Total
funds funds funds
£ £ £
Members 2,053 2,053
Corporate 2,277 1,435 3,712
Regular, one-off and other donations 54,474 17,997 72,471
Total 2020 58,804 19,432 78,236
----- End of picture text -----

2. Income from grants

----- Start of picture text -----
2021 2020
Unrestricted Restricted Total Total
funds funds funds funds
£ £ £ £
Arts Council England 270,000 64,430 334,430 111,531
CJRS grant (furlough) 190,484 190,484
London Borough of Islington 47,142 16,500 63,642 22,370
NESTA 13,461 13,461 13,000
Eve J R Charity
Garfield Weston 251,662 251,662 20,000
John Ellerman 21,368
Backstage Trust 57,921 57,921 62,079
Paul Hamlyn Foundation 20,000 20,000 52,180
Cripplegate Foundation 20,000 20,000
The Austin and Hope Pilkington Trust 5,000 5,000
Children in Need 9,766
The Froebel Trust 754 754 6,754
Ernst Hecht 10,000 70,000 80,000 5,553
City of London 29,428 29,428
Garrick Charitable Trust 5,000 5,000
The Julia and Hans Rausing Trust 43,550 45,600 89,150
Grants under £5,000 14,950 8,625 23,575 56,207
Total 2021 644,047 540,460 1,184,507 380,808
----- End of picture text -----

Included in income from grants is £190,484 received from the Coronavirus Job Retention Scheme (furlough) (2020: £nil).

Little Angel Theatre 32

Notes to the financial statements 31 March 2021

2. Income from grants (continued)

----- Start of picture text -----
2020
Unrestricted Total
funds Restricted funds funds
£ £ £
Arts Council England 111,531 111,531
London Borough of Islington 22,370 22,370
NESTA 13,000 13,000
Garfield Weston 20,000 20,000
John Ellerman 21,368 21,368
Backstage Trust 62,079 62,079
Paul Hamlyn Foundation 52,180 52,180
Children in Need 9,766 9,766
The Froebel Trust 6,754 6,754
Ernst Hecht 5,553 5,553
Grants under £5,000 4,643 51,564 56,207
Total 2020 4,643 376,165 380,808
----- End of picture text -----

3. Income from charitable activities

Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Box office
Touring
Education
Theatre tax relief		 35,618
13,044
65,174
15,016
128,852		 35,618
13,044
65,174
15,016
128,852		 565,097
251,454
94,478
95,499
1,006,528		 565,097
251,454
94,478
95,499
1,006,528

4. Income from investments

Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Income from investment
properties
Interest received		 62,142
86
62,228		 62,142
86
62,228		 65,446
91
65,537		 65,466
91
65,537

5. Expenditure on raising funds

Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Staff costs (note 11)
Direct costs
Support costs (note 9)		 44,724
2,219
12,430
59,373		 14,489
14,489		 59,213
2,219
12,430
73,862		 14,824
2,694
17,518		 37,368
21,660
59,028		 52,192
24,354
76,546

Little Angel Theatre 33

Notes to the financial statements 31 March 2021

6. Expenditure on merchandising and refreshments

Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Direct costs
Staff costs (note 11)
Support costs (note 9)		 1,967
13,706
3,155
18,828		 1,967
13,706
3,155
18,828		 22,616
14,789
4,858
42,263		 22,616
14,789
4,858
42,263

7. Expenditure on managing investment

Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2021
£		 Un-
restricted
funds
£		 Restricted
funds
£		 Total
funds
2020
£
Direct costs
Staff costs (note 11)
Support costs (note 9)		 16,044
2,956
19,000		 16,044
2,956
19,000		 11,453
14,097
2,910
28,460		 11,453
14,097
2,910
28,460

8. Expenditure on charitable activities

Expenditure on charitable activities
Direct
costs
£		 Staff
costs
(note 11)
£		 Support
costs
(note 9)
£		 2021
Total
£		 2020
Total
£
Shows
Touring
Education		 118,759
15,827
39,512
174,098		 217,856
60,545
142,398
420,799		 97,393
16,348
65,601
179,342		 434,008
92,720
247,511
774,239		 824,772
320,644
344,579
1,489,995
Direct
costs
£		 Staff
costs
(note 11)
£		 Support
costs
(note 9)
£		 2020
Total
£
Shows
Touring
Education		 443,207
237,373
109,108
789,688		 183,089
62,403
146,028
391,520		 198,476
20,868
89,443
308,787		 824,772
320,644
344,579
1,489,995

9. Support costs

Support costs
2021
Total
£		 2020
Total
£
Depreciation
Amortisation
Governance costs
Other costs		 17,456
1,772
12,028
166,627		 26,467
1,780
9,500
303,162
197,883 340,909

Little Angel Theatre 34

Notes to the financial statements 31 March 2021

10. Net movement in funds

This is stated after charging:

2021
£		 2020
£
Staff costs (note 11)
. Statutory audit services (current year)
. Statutory audit services (prior year)
. Non audit services
Depreciation
Amortisation		 509,762
7,050
2,900
3,100
17,456
1,772		 472,599
6,500
26,467
1,780

11. Employees

The average monthly numbers of employees during the year were:

2021
No.		 2020
No.
Arts department
Administration
Technical
Education		 9
2
5
4		 7
2
4
3
20 16
2021
£		 2020
£
Employment costs
Salaries and wages
Social security costs
Pension costs		 462,989
36,699
10,074		 426,348
37,021
9,230
509,762 472,599

There were no employees during the year with emoluments above £60,000 (2020 none).

The key management personnel of the charity in charge of directing and controlling, running and operating the charity on a day to day basis comprise the members of the Board, the Artistic Director/Chief Executive, the Executive Director, the Head of Production, the Head of Development and the Head of Creative Learning. The total remuneration (including taxable ey management personnel for the year was £202,723 (2020 £188,568).

12. Members of the Board

No members of the Board received any remuneration in respect of their service during the year (2020 none).

No members of the Board received reimbursement of expenses in the year (2020 none).

Little Angel Theatre 35

Notes to the financial statements 31 March 2021

13. Taxation

Little Angel Theatre Company is a registered charity and therefore is not liable to income tax or corporation tax on income derived from its charitable activities, as it falls within the various exemptions available to registered charities.

14. Intangible fixed assets

Goodwill
£		 Total
£
Cost
At 1 April 2020
At 31 March 2021
Provision for diminution in value
At 1 April 2020
Charge for the year
At 31 March 2021
Net book values
At 31 March 2021
At 31 March 2020		 35,576 35,576
35,576 35,576
33,804
1,772		 33,804
1,772
35,576 35,576
1,772 1,772

15. Tangible fixed assets

----- Start of picture text -----
Land and Fixtures, Leasehold
buildings fittings and Motor IT improve-
freehold Lighting equipment vehicle equipment ment Total
£ £ £ £ £ £ £
Cost
At 1 April 2020 39,042 161,647 66,656 5,500 15,525 48,760 337,130
Additions 1,117 5,633 13,753 11,717 32,220
At 31 March 2021 39,042 162,764 72,289 5,500 29,278 60,477 369,350
Depreciation
At 1 April 2020 26,658 144,820 57,311 3,002 13,439 20,613 265,843
Charge for the
year 976 3,027 2,898 1,100 3,331 6,124 17,456
At 31 March 2021 27,634 147,847 60,209 4,102 16,770 26,737 283,299
Net book values
At 31 March 2021 11,408 14,916 12,080 1,398 12,508 33,740 86,051
At 31 March 2020 12,384 16,827 9,345 2,498 2,086 28,147 71,287
----- End of picture text -----

Little Angel Theatre 36

Notes to the financial statements 31 March 2021

16. Fixed asset investment

Fixed asset investment
Investment property Total
2021
£
1,450,000
80,000
1,530,000		 Total
2020
£
1,450,000
1,450,000
At 1 April 2020
Net unrealised gains on revaluation
At 31 March 2021

The investment property is situated in the UK. The investment property was revalued at market value as at 31 March 2021 by an external valuer, Currell Commercial Ltd.

17. Debtors

Debtors
2021
£		 2020
£
Trade debtors
Other debtors
Prepayments and accrued income		 18,129
7,250
204,701		 44,432
7,250
99,452
230,080 151,134

18. Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
2021
£		 2020
£
Trade creditors
Taxes and social security costs
Other creditors
Accruals and deferred income		 2,834
24,346
14,650
109,775		 2,834
32,260
246,068
151,605 281,162

Deferred income relates to grants and ticket sales received in advance.

Deferred income reconciliation:

2021
£		 2020
£
Deferred income at 1 April
Amounts deferred during the year
Amounts released during the year
Deferred income at 31 March		 80,970 332,867
(332,867)
80,970

19. Lease commitments

The total value of the minimum lease payments under non-cancellable operating leases were as follows:

Land and buildings 2021
£		 2020
£
Within a year
Two to five years
More than five years		 29,500
118,000
196,667		 29,500
118,000
226,167
344,167 373,667

Little Angel Theatre 37

Notes to the financial statements 31 March 2021

20. Analysis of net assets between funds

----- Start of picture text -----
Unrestricted funds
2021 2020
General Designated Revaluation Restricted Total Total
funds funds reserve funds funds funds
£ £ £ £ £ £
Fund balances at 31 March
2021 as represented by:
Intangible fixed assets 1,772
Tangible fixed assets 86,051 86,051 71,287
Investment assets 23,307 1,506,693 1,530,000 1,450,000
Current assets 357,384 71,529 321,662 750,575 300,118
Current liabilities (151,605) (151,605) (281,162)
315,137 71,529 1,506,693 321,662 2,215,021 1,542,015
Unrestricted funds
2020
Designated Revaluation Restricted Total
General funds funds reserve funds funds
£ £ £ £ £
Fund balances at 31 March
2020 as represented by:
Intangible fixed assets 1,772 1,772
Tangible fixed assets 71,287 71,287
Investment assets 23,307 1,426,693 1,450,000
Current assets 282,176 17,942 300,118
Current liabilities (281,162) (281,162)
97,380 17,942 1,426,693 1,542,015
----- End of picture text -----

21. Unrestricted funds

----- Start of picture text -----
At 1 At 31
April Transfers March
2020 Income Expenditure and gains 2021
£ £ £ £ £
Designated fund buildings 15,269 15,269
Designated fund creative 2,673 2,673
Designated fund - committed 53,587 53,587
Revaluation reserve 1,426,693 80,000 1,506,693
General funds 97,380 938,475 (667,131) (53,587) 315,137
1,542,015 938,475 (667,131) 80,000 1,893,359
At 1 At 31
April Transfers March
2019 Income Expenditure and gains 2020
£ £ £ £ £
Designated fund buildings 20,802 (5,533) 15,269
Designated fund creative 2,673 2,673
Revaluation reserve 1,426,693 1,426,693
General funds 156,313 1,177,201 (1,241,667) 5,533 97,380
1,606,481 1,177,201 (1,241,667) 1,542,015
----- End of picture text -----

General funds represent those funds that are unrestricted and not designated for specific purposes.

Little Angel Theatre 38

Notes to the financial statements 31 March 2021

21. Unrestricted funds (continued)

The designated building fund was for improvements to the fabric of the theatre building. With two sizeable capital projects currently being proposed in both the studio and main theatre space, this fund is ringfenced to contribute towards scoping these proposals.

The designated creative fund was created in 2015/16 to enable artistic innovation in future programming. It is anticipated that there will be some contribution from this fund into the development of our digital strand of activity.

The designated committed fund relates to grant income that has been received in the current financial year, but has been committed to / ringfenced against activity which is taking place in the next financial year.

The revaluation reserve represents unrealised gains on revaluation of the investment property at 41 Cross Street. Movements in unrealised gains during the year were as follows:

At 1 April
2020
£		 Change in
market
value
£		 At 1 March
2021
£
Revaluation gains 1,426,693 80,000 1,506,693
At 1 April
2019
£		 Change in
market
value
£		 At 1 March
2020
£
Revaluation gains 1,426,693 1,426,693

22. Restricted funds

Restricted funds
At 1
April
2020
£		 Income
£		 Expenditure
£		 Transfers
£		 At 31
March
2021
£
321,662
321,662
At 31
March
2020
£
Restricted funds
Total restricted funds		 At 1
April
2019
£
Restricted funds
Total restricted funds		 395,597
395,597		 (395,597)
(395,597)

Restricted funds comprise amounts of grants and other income accrued in relation to specific projects. Restricted funds were received from 23 grant awarding bodies (as stated in Note 2). These grants were awarded in relation to specific projects, some of which concluded during this financial year, and some which are due to take place in future financial years.

Little Angel Theatre 39

Notes to the financial statements 31 March 2021

23. Related party transactions

The following related party transactions took place during the reporting period:

Little Angel Theatre 40