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2022-12-31-accounts

Registered number: 01136601 Charity number: 266765

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

UNAUDITED

TRUSTEES' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2022

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

CONTENTS

Page
Reference and administrative details of the company, its Trustees and advisers 1
Trustees' report 2 - 6
Independent examiner's report 7 - 8
Statement of financial activities 9
Balance sheet 10
Notes to the financial statements 11 - 25

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2022

Trustees P Cartwright, Chair
N Brown
N E Vickers
S R A Colegrave
T McCarthy
B Mazzocchi-Mallarme
Company registered
number
01136601
Charity registered
number
266765
Registered office
70-72 Barnsbury Road
London
N1 0ES
Accountants
Larking Gowen LLP
Chartered Accountants
1 Claydon Business Park
Great Blakenham
Ipswich
IP6 0NL

Page 1

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

TRUSTEES' REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

The Trustees present their annual report together with the financial statements of the company for the 1 January 2022 to 31 December 2022. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

Objectives and activities

a. Objectives and aims

The charity's purposes are to promote and advance the education of children and young people, particularly in the art of drama, by means of giving instruction in and promoting the study practice programme and teaching of all subjects connected with theatre and drama.

The Young Actors' Theatre aims to achieve these objectives are:

Young Actors' Theatre's vision is to make North London a happier and more equitable community through the provision of an accessible, inclusive, high-quality performing arts education.

Young Actors' Theatre's mission is to nurture creative and personal development and transform young lives for the better: made by and for young people.

In planning and directing the company's activities, the directors have fully considered the guidance on public benefit, published by the Charity Commission.

Page 2

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Objectives and activities (continued)

b. Main achievements of the company

The charity achieves its objectives through a structured curriculum of weekly classes, holiday courses and performance opportunities focusing on theatre, film, dance and music, The majority of the charity’s activity takes place at its Barnsbury Road base, with additional activity at satellite sites Church on the Corner, also on Barnsbury Road, Hargrave Hall, and Girdlestone Hall - both in Archway.

Artistic Director, Andrew Harries, died unexpectedly at the end of February 2022. This had a huge emotional and practical impact on the charity. Andrew had worked at Young Actors’ Theatre since 2005, and his contribution was immeasurable – nurturing young talent, enhancing the classes on offer, and staring our Foundation Course that so successfully trains students to work in the industry. Our Chair, Paul Cartwright, stepped in to act as voluntary Executive Director on a part-time basis, ensuring the charity stayed on an even keel and to offer support to all staff and areas of operation. Huge thanks must go to the entire team for pulling together and ensuring there was no interruption to our provision, whilst honouring Andrew’s legacy. Development Manager, Jamie Lynch also stepped down from his role in May 2022 after many years of diligent and successful fundraising and partnership-building on YATI’s behalf.

The Artistic Director and Development Manager roles were merged and refined to create a new CEO role that was recruited for over the summer. Isobel Smith joined the charity as CEO on 31 October 2022, having previously been Joint Chief Executive at Jacksons Lane in North London and having held senior fundraising roles at the National Theatre, Royal Botanic Gardens Kew, and Guildhall School of Music and Drama amongst others.

Much of the year’s focus continued to be on recovery and growth following the Coronavirus pandemic. As well as the slow return of in-person classes, we were able to continue with some online classes to offer a hybrid model of learning. As confidence around in-person teaching grew, we successfully re-established the number of classes we ran pre-pandemic, and in some areas, added additional provision particularly around musical theatre and a new dance offer for pre-juniors. Our numbers of students on concessionary rate and those offered free places through the Stage Door scheme also increased in line with the cost-of-living crisis.

2022 saw the return of the Summer Gala, a key annual event in the YATI calendar. We were fortunate to be able to use the Samsung Centre at Kings Cross to showcase the work of our students across the last academic year to a sold-out audience. We also reintroduced a Christmas show, this year, The Snow Queen, directed by teachers Joey Jarossi and Ellie Copper, offering a fantastic performance opportunity for students aged six to seventeen.

Works in the building continued, particularly around areas of historic drainage issues that caused regular flooding to the basement space. Thanks to our regular funding from the Girdlers Company, we were able to address faults with the roof and drains and put in place a regular maintenance plan to ensure these issues did not recur. Fundraising during the year involved the Board and Development Manager, focusing on maintaining grants and relationships in place pre-pandemic. Funding was awarded by Morris Charitable Trust, Jack Petchey Foundation, London Community Leg Up Fund, Arts Council England, National Lottery Heritage Fund, Dyers Company, Girdlers’ Company, donations through Local Giving and Amazon Smile, and the "Angel" individual giving scheme.

Page 3

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Achievements and performance

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The Trustees consider that free reserves should ideally represent a minimum of six months expenditure and are actively and continually seeking to increase the charity's free reserves in the short term. The reserves policy target amounted to £244,000, based on 2022 expenditure. At the year end, the charity's free reserves amounted to £153,000.

c. Financial review

2022 was a challenging, exceptional year for YATI. There was a negative net movement in funds of £55,998 (2021: surplus of £28,381). A sizeable proportion of this deficit was created by the sudden death of long-standing Artistic Director, Andrew Harries, with a payment made to his family, the additional costs for teaching staff and production support required to cover his absence, as well as the recruitment costs incurred to secure a new CEO. Unforeseen costs around a heritage project and intern support were the other key elements to the organisation’s increased expenditure but as completed programmes these costs will not be carried forward into 2023.

The Trustees, working with the new CEO are continuing to take all possible steps to ensure that the charity makes a surplus each year in order to improve the financial position, with key income and expenditure items monitored on a monthly basis. Expenditure is being monitored and reviewed with savings being made where possible.

d. Investments policy and objectives

All funds above those needed to deal with the day to day transactions of the charity are kept on bank deposit.

e. Principal funding

The charity is funded principally from course fees and grants.

Page 4

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

f. Future developments

Young Actor’s Theatre home in Islington is the beating heart of our operation, yet as a historic building it is not fully accessible, requires high levels of maintenance and is in need of renovation to make us a sustainable and impactful organisation for years to come. With this in mind, we are conducting a feasibility for a future capital campaign that would address these issues and expand potential income streams.

YATI Board members will continue to advise on specific areas of organisational health and development, strategy and planning, partnerships, funding, finance and audit, marketing and branding, and the potential capital building project. The Board have also recognised they would benefit from recruiting new Trustees with additional expertise and skills particularly around education and the performing arts industry. Recruitment of suitable new board members is therefore ongoing.

g. Market value of land and buildings

The charity's freehold property is stated in the financial statements at a net book value of £126,164. The Trustees are of the opinion that the open market value of the freehold property is approximately £1,500,000.

Structure, governance and management

a. Governing document

The charity is governed by its Memorandum and Articles of Association and is constituted as a company limited by guarantee.

The company was first registered on 27 September 1973. It is also registered as a charity.

b. Recruitment and appointment of new trustees

The Company's Articles of Association prescribe that the number of Trustees must not be less than three nor more than ten. The existing Trustees recruit new trustees who will add knowledge and experience to the organisation when the need arises.

c. Induction and training of new trustees

New Trustees undergo orientation to brief them on their obligations under charity and company law, the content of the Memorandum and Articles of Association, the decision-making process and the financial performance of the charity. New Trustees will also meet the staff and members of the theatre and attend classes and performances.

d. Organisational structure

The Trustees together with the CEO are in charge of the day-to-day running of the charity are responsible for the general management of the charity. All decisions are made by the Trustees at meetings which take place at least four times per year. The Trustees regularly monitor the financial position of the charity.

Page 5

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

Structure, governance and management (continued)

e. Risk management

The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The Trustees' strategy is to review the risks the charity faces on an ongoing basis.

All staff undergo additional safeguarding and child protection training. DBS checks are in place for all staff and first aid training is kept up to date. The theatre has health and safety and child protection policies and is compliant with fire regulations and has two trained fire marshals. PAT testing is carried out annually. The credit control policy is monitored quarterly.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees' report and 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. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ P Cartwright Trustee Date:

Page 6

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 DECEMBER 2022

Independent examiner's report to the Trustees of Young Actors' Theatre Islington ('the company')

I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 December 2022.

Responsibilities and basis of report

As the Trustees of the company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England & Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

the accounts do not accord with those records; or

the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Page 7

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

INDEPENDENT EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2022

This report is made solely to the company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report.

Signed:

Giles Kerkham FCA DChA

Larking Gowen LLP Chartered Accountants 1 Claydon Business Park Great Blakenham Ipswich IP6 0NL

Date: 24 / 10 / 2023

Page 8

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 DECEMBER 2022

Note
Income from:
Grants and donations
2
Education in drama
3
Fundraising
4
Investments
5
Agency fees
Total income
Expenditure on:
Raising funds
Charitable activities
6
Total expenditure
Net movement in funds
Reconciliation of funds:
Total funds brought forward
Net movement in funds
Total funds carried forward		 Unrestricted
funds
2022
£
17,362
318,932
23,497
510
28,758
389,059
16,555
416,502
433,057
(43,998)
353,480
(43,998)
309,482		 Restricted
funds
2022
£
46,135
-
-
-
-
46,135
-
58,135
58,135
(12,000)
-
(12,000)
(12,000)		 Total
funds
2022
£
63,497
318,932
23,497
510
28,758
435,194
16,555
474,637
491,192
(55,998)
353,480
(55,998)
297,482		 Total
funds
2021
£
105,114
298,628
3,743
-
29,303
436,788
39,123
369,284
408,407
28,381
325,099
28,381
353,480

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

The notes on pages 11 to 25 form part of these financial statements.

Page 9

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee) REGISTERED NUMBER: 01136601

BALANCE SHEET AS AT 31 DECEMBER 2022

Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Creditors: amounts falling due within one
year
13
Net current assets
Total net assets
Charity funds
Restricted funds
14
Unrestricted funds
14
Total funds		 4,724
164,400
169,124
(16,586)		 2022
£
144,944
144,944
152,538
297,482
-
297,482
297,482		 4,068
226,764
230,832
(18,109)		 2021
£
140,757
140,757
212,723
353,480
-
353,480
353,480

The company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

................................................ P Cartwright Trustee Date:

The notes on pages 11 to 25 form part of these financial statements.

Page 10

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

1. Accounting policies

1.1 Basis of preparation of financial statements

The financial statements 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 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Young Actors' Theatre Islington meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Company status

The company is a company limited by guarantee. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company.

1.3 Going concern

The Charity has prepared detailed financial forecasts for the next twelve months that show that the charity has sufficient reserves and actual and forecast income for the period. Based on this information the Trustees have concluded that the charity has adequate resources to continue in operational existence for the foreseeable future, being not less than 12 months from the date of approval of these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4 Income

All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Page 11

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

1. Accounting policies (continued)

1.5 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the company to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.6 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.

1.7 Tangible fixed assets and depreciation

Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.

Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following bases:

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and 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.

Page 12

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

1. Accounting policies (continued)

1.10 Liabilities and provisions

Liabilities 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.

Liabilities are recognised at the amount that the company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.

1.11 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

2. Income from grants and donations

Unrestricted
funds
2022
£
Core grants and donations
13,591
Restricted grant income
-
Similar incoming resources
3,771
17,362		 Restricted
funds
2022
£
-
46,135
-
46,135		 Total
funds
2022
£
13,591
46,135
3,771
63,497

Page 13

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

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

2. Income from grants and donations (continued)

Core grants and donations
Restricted grant income
3.
Income from education in drama
Drama fees
Drama fees		 Unrestricted
funds
2021
Restricted
funds
2021
£
£
9,948
-
-
95,166
9,948
95,166
Unrestricted
funds
2022
£
318,932
Unrestricted
funds
2021
£
298,628		 Total
funds
2021
£
9,948
95,166
105,114
Total
funds
2022
£
318,932
Total
funds
2021
£
298,628

Page 14

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

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

4. Income from other trading activities

Income from fundraising events

Unrestricted
funds
2022
£
Hire of Theatre
15,631
Other income
504
Performances
7,362
23,497
Unrestricted
funds
2021
£
Hire of Theatre
1,722
Performances
2,021
3,743		 Total
funds
2022
£
15,631
504
7,362
23,497
Total
funds
2021
£
1,722
2,021
3,743

5. Investment income

Unrestricted Total Total
funds funds funds
2022 2022 2021
£ £ £
Deposit account interest 510 510 -

Page 15

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

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

6. Analysis of expenditure on charitable activities

Drama fees
Drama fees		 Activities
undertaken
directly
2022
£
451,058
Activities
undertaken
directly
2021
£
346,874		 Support
costs
2022
£
23,579
Support
costs
2021
£
22,410		 Total
funds
2022
£
474,637
Total
funds
2021
£
369,284

Page 16

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

6. Analysis of expenditure on charitable activities (continued)

Analysis of direct costs

Staff costs
Depreciation
Facility fees payable
Theatre production expenses
Teachers self employed
Health and safety
Printing and stationery
Sundry expenses
Travelling
Exceptional expenditure
Postage and carriage
Recruitment expenses
Exceptional expenditure		 Drama fees
2022
£
173,258
6,991
42,786
32,402
162,462
2,861
288
1,781
900
3,962
3,367
8,000
12,000
451,058		 Total
funds
2022
£
173,258
6,991
42,786
32,402
162,462
2,861
288
1,781
900
3,962
3,367
8,000
12,000
451,058

Exceptional expenditure relates to a one off cost to the charity, as disclosed in note 16.

Page 17

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

6. Analysis of expenditure on charitable activities (continued)

Analysis of direct costs (continued)

Staff costs
Depreciation
Facility fees payable
Theatre production expenses
Teachers self employed
Rental of equipment
Health and safety
Sundry expenses
Travelling
Advertising and publicity
Postage and carriage		 Drama fees
2021
£
207,428
6,772
14,415
18,108
87,058
391
2,017
4,010
1,056
4,592
1,027
346,874		 Total
funds
2021
£
207,428
6,772
14,415
18,108
87,058
391
2,017
4,010
1,056
4,592
1,027
346,874

Analysis of support costs

Computer and software
Bank charges
Independent examination and accounts
Trustee expenses		 Drama fees
2022
£
15,020
1,319
6,950
290
23,579		 Total
funds
2022
£
15,020
1,319
6,950
290
23,579

Page 18

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

6. Analysis of expenditure on charitable activities (continued)

Analysis of support costs (continued)

Computer and software
Bank charges
Independent examination and accounts
7.
Independent examiner's remuneration
Fees payable to the company's independent examiner for the independent
examination of the company's annual accounts
8.
Staff costs
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes		 Drama fees
2021
£
15,224
345
6,841
22,410
2022
£
3,250
2022
£
172,326
11,917
4,780
189,023		 Total
funds
2021
£
15,224
345
6,841
22,410
2021
£
2,950
2021
£
224,112
15,374
6,896
246,382

The average number of persons employed by the company during the year was as follows:

Teachers and helpers
Office
Fundraising		 2022
No.
9
5
-
14		 2021
No.
14
5
1
20

Page 19

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

8. Staff costs (continued)

No employee received remuneration amounting to more than £60,000 in either year.

Remuneration (including employer' National Insurance and employer' pension) to key management personnel in the year amounted to £23,565 (2021 - £65,199) .

9. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2021 - £NIL) .

During the year ended 31 December 2022, expenses totalling £ 290 were reimbursed or paid directly to 1 Trustee (2021 - £NIL to Trustee) .

10. Agency fees

2022 2021
£ £
Commission income 28,758 29,303

Young Actors Theatre Islington collects acting fees on behalf of its students and former students which are treated as liabilities until paid over. The charity's income includes the commission retained but not the gross fee.

At the year end, a balance of £5,534 (2021 - £5,584) is included within trade creditors.

Page 20

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

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

11. Tangible fixed assets

Cost or valuation
At 1 January 2022
Additions
At 31 December 2022
Depreciation
At 1 January 2022
Charge for the year
At 31 December 2022
Net book value
At 31 December 2022
At 31 December 2021		 Freehold
property
£
131,624
9,000
140,624
14,460
-
14,460
126,164
117,164		 Fixtures and
fittings
£
99,867
2,178
102,045
76,274
6,991
83,265
18,780
23,593		 Total
£
231,491
11,178
242,669
90,734
6,991
97,725
144,944
140,757

Page 21

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

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

12. Debtors

Due within one year
Trade debtors
Prepayments and accrued income
Other debtors		 2022
£
34
4,186
504
4,724		 2021
£
34
4,034
-
4,068

13. Creditors: Amounts falling due within one year

Bank overdrafts
Trade creditors
Taxation and social security
Other creditors
Accruals		 2022
£
1,246
5,534
648
5,258
3,900
16,586		 2021
£
1,414
5,584
7,006
2,230
1,875
18,109

Page 22

YOUNG ACTORS' THEATRE ISLINGTON (A company limited by guarantee)

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

14. Statement of funds

Statement of funds - current year
Balance at 1
January
2022
£
Unrestricted funds
General Funds - all funds
353,480
Restricted funds
Girdlers Charity
-
Dyers Company
-
Jack Petchey Foundation
-
Islington Borough Council
-
City Unite Students
-
National Heritage
-
-
Total of funds
353,480		 Income
£
Expenditure
£
Balance at 31
December 2022
£
389,059
(445,057)
297,482
14,550
(14,550)
-
4,000
(4,000)
-
11,380
(11,380)
-
8,475
(8,475)
-
1,000
(1,000)
-
6,730
(6,730)
-
46,135
(46,135)
-
435,194
(491,192)
297,482		 Income
£
Expenditure
£
Balance at 31
December 2022
£
389,059
(445,057)
297,482
14,550
(14,550)
-
4,000
(4,000)
-
11,380
(11,380)
-
8,475
(8,475)
-
1,000
(1,000)
-
6,730
(6,730)
-
46,135
(46,135)
-
435,194
(491,192)
297,482
-
-
-
-
-
-
-
297,482

These restricted funds are as follows:

Dyers Charitable Trust - Core Funding

Girdlers Company Charitable Trust - For building maintenance and repairs

Islington Borough Council - Young Actors Film Company

The Jack Petchy Foundation - grants spent on trips to the theatre to celebrate achievements of our members

National Heritage - Bards on Boats project

City Unite Students - donation to support our building project and install CCTV at YATI

Page 23

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

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

14. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds
General Funds - all funds
Restricted funds
Arts Council - Government Culture Recovery
Fund
Arts Council Grant
Lower Regent LRC
Strafford Capital
Girdlers Charity
Dyers Company
Jack Petchey Foundation
Islington Borough Council
Isledon Arts
Garfield Weston Foundation
Total of funds		 Balance at
1 January
2021
£
318,099
7,000
-
-
-
-
-
-
-
-
-
7,000
325,099		 Income
£
341,622
-
10,180
6,119
20,000
11,322
3,000
14,070
8,475
2,000
20,000
95,166
436,788		 Expenditure
£
(306,241)
(7,000)
(10,180)
(6,119)
(20,000)
(11,322)
(3,000)
(14,070)
(8,475)
(2,000)
(20,000)
(102,166)
(408,407)		 Balance at
31
December
2021
£
353,480
-
-
-
-
-
-
-
-
-
-
-
353,480

Page 24

YOUNG ACTORS' THEATRE ISLINGTON

(A company limited by guarantee)

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

15. Analysis of net assets between funds

Analysis of net assets between funds - current year

Unrestricted
funds
2022
£
Tangible fixed assets
144,944
Current assets
169,124
Creditors due within one year
(16,586)
Total
297,482		 Total
funds
2022
£
144,944
169,124
(16,586)
297,482

Analysis of net assets between funds - prior year

Tangible fixed assets
Current assets
Creditors due within one year
Total		 Unrestricted
funds
2021
£
140,757
230,832
(18,109)
353,480		 Total
funds
2021
£
140,757
230,832
(18,109)
353,480

16. Related party transactions

As authorised by an Order of the Charity Commission, an ex-gratia payment of £12,000 was made to former CEO Andrew Harries' family.

In the year there was a transaction with a Trustee as disclosed in note 9. There were no other related party transactions.

Page 25