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2023-12-31-accounts

Company registration no. 00922845 (England & Wales) Charity Registration No. 268210

SOUTH LONDON THEATRE CENTRE LIMITED

ANNUAL REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

SOUTH LONDON THEATRE CENTRE LIMITED

CONTENTS

Page
Legal and administrative information 1
Report of the General Council (incorporating the Directors' Report) 2 - 5
Independent auditors' report 6 - 9
Statement of financial activities (including income and expenditure account) 10
Statement of financial position 11
Notes to the financial statements 12 - 19

SOUTH LONDON THEATRE CENTRE LIMITED (A COMPANY LIMITED BY GUARANTEE)

LEGAL AND ADMINISTRATIVE INFORMATION

----- Start of picture text -----
General Council Directors Simon Gleisner (Chairman)
Christopher Stooke
Joanne Boniface
Lorna Felix
Hywel Roberts (Appointed 11 June 2023)
Eddie Coleman (Appointed 11 June 2023)
Hannah Evans (Appointed 11 June 2023)
Barry Heselden
Guy Jones
Gareth Milton
Lisa Thomas (Resigned 7 July 2023)
Caroline Beckett (Resigned on 11 June 2023)
Company Secretary Christopher Stooke
Charity number 268210
Company number 922845
Registered office 9 Bonhill Street
London
EC2A 4DJ
Principal address 2A Norwood High Street
London
SE27 9NS
Auditors Begbies
9 Bonhill Street
London
EC2A 4DJ
Bankers HSBC Bank Plc
9 Wellesley Road
Croydon
Surrey
CR9 2AA
Solicitors Howard Kennedy LLP
1 London Bridge
London
SE1 9BG
----- End of picture text -----

1

SOUTH LONDON THEATRE CENTRE LIMITED

REPORT OF THE GENERAL COUNCIL (INCORPORATING THE DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

The financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Companies Act 2006, Charities Act 2011 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”. The charity is a Public Benefit Entity as defined by FRS 102.

Principal activities

The charity is a registered company limited by guarantee governed by its Memorandum and Articles of Association. The principal activities of the company are to promote, maintain, improve and advance education for the benefit of the public by the production of educational plays and encouragement of the arts, including the arts of drama, mime, dance, singing and music.

Going concern

The Directors' report and financial statements have been prepared on a going concern basis. The directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

General Council

The Directors of the General Council who held office during the year and up to the date of signature of the financial statements were as follows:

Simon Gleisner (Chairman) Christopher Stooke (Financial director) Caroline Beckett (Resigned 11 June 2023) Joanne Boniface Lorna Felix Barry Heselden Guy Jones Gareth Milton Lisa Thomas (Resigned 7 July 2023) Hywel Roberts (Appointed 11 June 2023) Eddie Coleman (Appointed 11 June 2023) Hannah Evans (Appointed 11 June 2023)

2

SOUTH LONDON THEATRE CENTRE LIMITED

REPORT OF THE GENERAL COUNCIL (INCORPORATING THE DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

Appointment of Directors

All Directors of the General Council are Directors of the Company and the Trustees of the Charity for the purpose of Charity law and, with the exception of the Financial Director, are appointed by the members at each Annual General Meeting. The Financial Director is appointed annually by the General Council at its first meeting following the Annual General Meeting. Directors are elected by nomination at the Annual General Meeting or appointed by the General Council in the event of a vacancy. Elected directors are required to hold office for a minimum of six months. No Director shall serve on General Council in any one or more capacity for longer than 9 consecutive years. New directors are briefed on their legal obligations under Company and Charity law and the Charity Commission guidance on public benefit.

Wider network

SLTC Members' Club, a separate entity with its own constitution and ruling body, operates for the benefit of the charity and its subsidiary company SLT Building Preservation Trust Limited.

Risk Statement

The major risks to which the charity is exposed, as identified by the Directors, have been reviewed and systems or procedures have been established to manage those risks.

The funding received through SLT Building Preservation Trust Limited has ensured financial stability for the company.

Our volunteers

All of the current directors of the company donate their services without charge. The company often also relies on the contribution of unpaid general volunteers in carrying out its activities. The directors have considered the specific provisions regarding the valuation of donated items and services and concluded that placing a monetary value on their contribution would not be possible or appropriate.

Review of the financial position

The Statement of Financial Activities for the year to 31 December 2023 shows net expenditure of £28,855 (2022: net expenditure of £8,813) reducing the total reserves carried forward to £76,563 (2022: £105,418). These reserves are held for the furtherance of the Company’s charitable objects.

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to between three and six months' expenditure. The directors consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

3

SOUTH LONDON THEATRE CENTRE LIMITED

REPORT OF THE GENERAL COUNCIL (INCORPORATING THE DIRECTORS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023

Review of activities and Future Developments

During the year, the Company staged 29 productions, livestreams and other ticketed events with a total audience attendance of 8045 from members of the public, and the three regular training classes for ages six to eighteen were attended by 117 students. At the end of 31 December 2023, there were 444 total subscribers made up of 388 members and 56 supporters.

2023 has seen increased activity over the previous year; this is particularly reflected in levels of ticket sales (where there was also a small price increase during the year) and membership revenue which is driven by the level of involvement of members and supporters in all parts of SLT's operations. This level of activity is continuing into 2024. During 2024 there are also expected to be some changes to the structure and scope of responsibilities of SLT's trustee board, if the proposed changes are approved by the membership.

Auditor

In accordance with the company's articles, a resolution proposing that Begbies be re-appointed as auditors of the company will be put to the Annual General Meeting at which the financial statements will be presented.

Statement of directors' responsibilities

The directors are responsible for preparing the Report of the General Council and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.

In preparing these financial statements, the directors are required to:

The directors are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

4

SOUTH LONDON THEATRE CENTRE UMifED REPORT OF THE GENERAL COUNCIL (INCORPORATING THE DIREcfoRS' REPORT) FOR THE YEAR ENDED 31 DECEMBER 2023 Statement ol disclosure to auditor So far as each person who was a director at the date of approving this report is aware. there is no relevant audit information of which the compan￿$ auditor is unaware. Additionally. the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to estsblish that the companWs auditor is aware of that information. This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption. On behalf of the General Council Gleisner alrman 28 August 2024

SOUTH LONDON THEATRE CENTRE LIMITED

INDEPENDENT AUDITORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Opinion

We have audited the financial statements of South London Theatre Centre Limited (the 'company') for the year ended 31 December 2023 which comprise the statement of financial activities, the statement of financial position and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

Basis of opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company’s ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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

6

SOUTH LONDON THEATRE CENTRE LIMITED

INDEPENDENT AUDITORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

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

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the General Council.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

7

SOUTH LONDON THEATRE CENTRE LIMITED

INDEPENDENT AUDITORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

Responsibilities of directors

As explained more fully in the directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s 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 audit was designed to respond to the risk of material misstatements in the financial statements, recognising that the risk of not detecting misstatement resulting from fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentation or through collusion.

8

SOUTH LONDON THEATRE CENTRE LIMITED

INDEPENDENT AUDITORS' REPORT FOR THE YEAR ENDED 31 DECEMBER 2023

There are inherent limitations in the audit procedures performed. The further removed instances of noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

Use of our report

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

Christopher Bates (Statutory Auditor) For and on behalf of Begbies

Chartered Accountants Statutory Auditor

3 September 2024_______ 9 Bonhill Street London EC2A 4DJ

9

SOUTH LONDON THEATRE CENTRE LIMITED

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEMBER 2023

Notes
INCOME FROM:
Donations, legacies and grants
2
Charitable activities:
3
Theatre productions
Training classes
Other trading activities
4
Investments: Bank interest income
Total income
EXPENDITURE ON:
Raising funds
6
Charitable activities:
3
Theatre productions
Training classes
Other
8
Total resources expended
Total funds brought forward
Total funds carried forward
17
NET INCOME/(EXPENDITURE) FOR THE YEAR AND NET
MOVEMENT IN FUNDS		 Unrestricted
Unrestricted
fund
fund
2023
2022
£
£
1,436
3,296
67,042
53,277
35,649
35,702
31,517
28,951
1,003
104
136,647
121,330
34,221
24,834
58,995
49,467
45,451
27,945
26,835
27,897
165,502
130,143
(28,855)
(8,813)
105,418
114,231
76,563
105,418

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

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

10

SOUTH LONDON THEATRE CENTRE LIMITED STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER 2023 2023 2021 Notes Flxed assets Tangible asset5 12 17.813 22.008 Current assets Debtors Cash at bank and in hand 6,987 79.921 24.286 98.728 86,9)8 123,014 Llabilities Creditors: amounts falling due within one year (28,157) {39.6041 58,751 83,410 Net assets 76.564 105,418 The funds of the charity: Unve5tricted funds 17 76.563 105,418 Total charlty funds 76.563 105,418 These financial statements have been prepared in accordance with the provisions applicable to companies Subject to the small companies, re8ime. Approved on behalf of the General Council and authorised for issue on 28/08120 Gleisner Dlrertor of the General Coun¢il Christopher Stovke Dlrertor of the Ge fal Council Company Registratlon No.: 922845 li

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

1 ACCOUNTING POLICIES

Company information

South London Theatre Centre Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is 9 Bonhill Street, London EC2A 4DJ.

a) Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”), the Charities Act 2011, “Accounting and Reporting by Charities” the Statement of Recommended Practice for charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)”. The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared on the historical cost convention except for the modification to a fair value basis for certain financial instruments as specified in the accounting policies below.

b) Going concern

At the time of approving the financial statements for issue, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

The directors have prepared cash flow projections covering the period to 31 December 2024 which indicate that the company has sufficient cash resources to meet its liabilities as they fall due.

The directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

c) Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

12

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

d) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

e) Grants and legacies accounting

In accordance with Charity SORP, grants and legacies are only be recognised when all the following criteria are met: Entitlement – control over the rights or other access to the economic benefit has passed to the charity.

Probable – income is recognised when there is sufficient certainty of receipt - receipt is more likely than not. Measurement – the monetary value or amount of the income can be measured reliably.

f) Donated services and facilities

Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the directors is not recognised. Refer to the Report of the General Council for more information about their contribution.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

g) Investment income

h) Expenditure and irrecoverable VAT

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

13

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

i) Allocation of support costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back office costs, finance, personnel, payroll and governance costs which support the charity's artistic programmes and activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in note 7.

j) Tangible fixed assets and depreciation

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Plant and machinery over 10 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

k) Debtors

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

l) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of six months or less from the date of acquisition or opening of the deposit or similar account.

m) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

n) Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. It only has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

14

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

o) Charitable funds

The funds of the charity are classified as general and are all unrestricted and expendable at the discretion of the directors in furtherance of the objects of the charity.

p) Critical accounting estimates and judgements

In the application of the charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

2 DONATIONS, LEGACIES AND GRANTS

Donations
Grants receivable and released		 2023
2022
£
£
1,370
3,230
66
66
1,436
3,296

Grants receivable and released includes £66 (2022: £66) from SLT Building Preservation Trust Limited to cover eligible expenditure and charitable projects.

3 INCOME AND EXPENDITURE FROM CHARITABLE ACTIVITIES

Theatre Productions
Theatre ticket sales
Less: Production costs
Less: Associated support and governance costs (note 7)
Net expenditure from theatre productions
Training Classes
Income from student fees and performances
Less: Running costs
Less: Associated support and governance costs (note 7)
Net income/(expenditure) from training classes		 2023
2022
£
£
67,042
53,277
(15,274)
(8,843)
(43,721)
(40,624)
8,047
3,810
35,649
35,702
843
(236)
(46,294)
(27,709)
(9,802)
7,757

15

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

4 INCOME FROM OTHER TRADING ACTIVITIES

Membership subscriptions
Costume hire
Merchandise and ice cream sales
Fund-raising		 2023
2022
£
£
14,800
12,253
4,445
6,237
2,812
2,159
9,242
8,302
31,517
28,951

5 EMPLOYEES

The average number of persons, including directors, employed by the company during the year was 7 (2022: 6).

None of the directors received remuneration in 2023 (2022: £0)

There were no employees whose annual emoluments were £60,000 or more.

6 EXPENDITURE ON RAISING FUNDS

Publicity
Donations paid
Fund-raising costs
Associated support and governance costs (note 7)		 2023
2022
£
£
5,778
7,568
18,918
8,500
263
180
9,262
8,586
34,221
24,834

16

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

7 ANALYSIS OF GOVERNANCE AND SUPPORT COSTS

The company apportions its support costs and governance costs between the key activities undertaken in the year. The table below shows the basis for apportionment and the analysis of support and governance costs.

Support costs:
General theatre costs
Rent
Depreciation
Share of overheads
Office expenses
Wages and salaries (incl. NI)
Payroll administration
Irrecoverable VAT
Sundries
Governance costs:
Audit and accountancy fees		 Theatre
production
Training
classes
Fund-
raising
Costume
Hire
2023
Total
2022
Total
Basis of
allocation
£
£
£
£
£
1,849
-
-
1,849
2,769 Specific
17,770
2,630
3,600
12,000
36,000
36,000 Floor area
2,102
311
426
1,356
4,195
4,069 Floor area
16,662
2,466
3,375
9,700
32,204
29,230 Floor area
378
-
378
-
756
911 Time spent
-
39,709
-
-
39,709
21,458 Specific
-
349
-
-
349
580 Pro rata
-
-
-
-
-
-
Specific
-
208
863
-
1,071
1,008 Specific
4,960
620
620
-
6,200
3,950 Pro rata
43,721
46,294
9,262
23,056
122,333
99,975

8 OTHER

Website development costs
Ice cream costs
Raffle expenses
Wardrobe costs
NET INCOME/(EXPENDITURE) FOR THE YEAR
This is stated after charging payment to auditors for:
The audit of the company's financial statements		 2023
2022
£
£
1,600
3,750
1,735
785
444
306
23,056
23,056
26,835
27,897
2023
2022
£
£
4,000
3,750

9 NET INCOME/(EXPENDITURE) FOR THE YEAR

10 DIRECTORS' BENEFITS AND OTHER EXPENSES

During the year, six of the directors received reimbursements, inclusive of VAT, totalling £2,194 while they were directors (2022: £2,701 to seven directors) for theatre expenses, publicity, office expenses and maintenance costs incurred on behalf of the company.

None of the directors received any benefits in the year (2022: £nil).

17

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

11 TAXATION

The company is a registered charity and does not trade for tax purposes. It is not liable to tax on its net income for the year.

12 TANGIBLE FIXED ASSETS

----- Start of picture text -----
||| |---|---| |Plant and| |machinery| |etc| |£| |Cost| |At 1 January 2023|56,864| |Additions|-| |At 31 December 2023|56,864| |Depreciation and impairment| |At 1 January 2023|34,856| |Depreciation charge|4,195| |At 31 December 2023|39,051| |Carrying amount| |At 1 January 2023|22,008| |At 31 December 2023|17,813|

----- End of picture text -----

13 SUBSIDIARY UNDERTAKING

SLT Building Preservation Trust Limited (BPT) is a wholly-controlled subsidiary of South London Theatre Centre Limited. It is a charitable company registered in England & Wales and limited by guarantee. The principal activities of BPT are the preservation and management of the Old Fire Station at 2A Norwood High Street, London SE27 9NS.

----- Start of picture text -----
|||| |---|---|---| |Net| |income/| |(expenditur| |e) for the| |Reserves|year| |2023|2023| |£|£| |SLT Building Preservation Trust Limited|(124,265)|69,271|

----- End of picture text -----

18

SOUTH LONDON THEATRE CENTRE LIMITED

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023

14 DEBTORS
Amounts owed from group undertakings
Other debtors
Prepayments
15 CREDITORS
Trade creditors
Taxation and social security
Deferred income
Other creditors
Accruals		 2023
2022
£
£
-
18,918
829
563
6,158
4,805
6,987
24,286
2023
2022
£
£
21,870
14,820
948
2,419
374
440
-
398
4,965
21,527
28,157
39,604

16 GUARANTEE BY THE MEMBERS

The company is limited by guarantee. The members of the company have agreed to contribute an amount, not exceeding £1 each, in the event of it being wound up.

17 MOVEMENT OF UNRESTRICTED FUNDS
Balance brought forward : 1 January 2023
Net income for the year
Balance carried forward : 31 December 2023
18 RELATED PARTY TRANSACTIONS
During the year BPT charged:
- £36,000 (2022: £36,000) in rent, and
- £32,204 (2022: £29,230) in share of overheads to the company.		 £
105,418
(28,855)
76,563

19