OtyNfwo@ , RTiiAND Llltll]tm o@m, NANclAL MENTS JNDED YEAR li •ACWZBV2Q' 1610212024 COMPANIES HOUSE
REGULATORY INFORMATION COMPANY MUM8E 01019858 CHARITY NUMBEft DIRECTOPS AND TRUSTEES 2741é6 Dame Rosemary Squire Helen Enri9ht Sir Brendan Barber Laura Gander-Howe John Reiss Johnson Situ Giles Terer Amy TTigg Shadee Yaghoubi Tali Pelman Timothy Sheader Elizabeth Holden Timothy Jones Portia Mwan9angye Claire Mera-Nelson lain Barbour Jen Duck Ret¢red 26 Janvary 2023 Resigned 28 April 2023 Resigned 26 January 2023 Appointed 26 January 2023 Appointed 26 January 2023 Appointed 26 Januèry 2023 Appointed 27 April 2023 Appointed 27 April 2023 Appointed 27 July 2023 Appointed 27 July 2023 Appointed 26 Cktober 2023 Resigned 10 March 2023 Appointed 10 March 2023 Resigned 26 October 2023 Appointed 26 October 2023 Resigned 2 September 2022 SECREfARY Sarnuel Hanslord Nathan Smith Froniga Lambert Abigail Morris Sally Ann Giition Samuel Hansford AonsTTC DIRECTofi 6 CEO PRINLYPAL O CEO EXE1¥£ DIRECTOIt Resigned 10 March 2022 riEGISTERED OFFICE G PRINCIPAL AODfiESS 120 Peckham Hill Street London SE1 S 5JT AUDITOftS Moore Kingston Smith LLP 61h Fk#)r g Appdd Str L0Thn EC2A 2AP BANKERS Unity Tiust Bank PLC Nine Brindley Place 8irminghèrn 81 2HB 8arclay5 Bank South East & MTL London Corporate Team 5th Floor. 1 North End Croydon CR?ISX SOUCIIORS Bates Wèlls 2-6 Cannon Stieei London EC4M 6YH
CONTENTS Truste Rept siirtement of Trustees, Responsibilities 22 IndepeThJenl Avditor* Report 23 stalemenl of financial Activities 27 Bolonce Sheet 28 St(rtemenl of Cash Flows Notes to the Accovnls
t2ÉPOn
INTRODUCTION 8ad
OBJECTIVES & ACTIVITIES CHARITABLE OBJECTS AND pfélNCIPAL ACTIVITIES The principal charitable aim of Movnrview Academy of Theat Arts Limited I'mouniview,, 'the Academy.. 'the Chèrity'l continue5 to be the promotion and provision of ¥ocation31 education amongst members ol the public". developing the public s appreciation and understanding ol Ihe arts. Thè primary 3ctivity of the Charity is ihe provision of high-quality education and trainin9 at loundaiion, undergiaduate dege and postgraduate degree levels. and via various short courses. ftsr.. Students who wish to work prolessionally as actors and performers. or production professionals. in the theatre. h'lrn. television. music and related Industries". Part-time students and members of the local community. both adults and childien. who wish to develop their creativity and skills. From ils home in Peckhèm, South London, Mountvbew also presents a public progrèmme of student productions. h05t5 incomin9 external events and productions. and provides oHice. rehearsal and retail SP8ce to a variety ol community. noi for profit and commercial tenants and hirer5. Proceed5 from these activilies are all invested back into the chaTltable work of the Academy. STRATEGIC REPORT MISSION AND STRATEGIC OBJECTIVES Overview Mountview is one ol the UKS leadin9 drama sch¢)ols with 3 world class reputation in vocation81 trainin9 and a commiiment to.. Excellence At our lasi Highey Educèiion Review IHERI. the Quality A55urance Agency (QAAI confi.rmed their highesl level o15atisfadion that we met all requirements and UK expectations. The University of East Angli IUEAI, our validating Partner under1ook their five-yebr Institutional Review in 2019 and confirmed our excellence as a provider. In the same year we also received an excellent ieaccredi13tion report from Council for Dance. Drama and Musical Theatre ICDMT) who accredit our provision and were inspected by Trinity College who commended us. Our Ofsted Tating is 'OulStanding'. *F
lou'it.. prfjg,-3mryiP Ihroutthoul t?= Backslège heatre ..npr Ind,J5Trv '?g,-essive proctice Is rharnpioned. exampi our viork Knighi Thompson Speechwork ppn-lingual speecn 1.gins rnetnco. creatcs equ'it! IiberBte5 Studenis e?Iively ?nTI-oopressive PlbCilCe' st.er spaces embedded 'xde COgliniJe to Di oviae sludent5 to ractice. p¥eparir)g crealive Industfies Ils 8C-Ee21e- 180-SÈcf&r 14&_=Ir= horour gpnero'.5 build 3sso-'3leo' WiTh 5'qp for C8mero Mackintosh Yelped coiTrclele lhea-.re I4vDr Pi odJier -'ierseti-, leaching Gpoorluni11e5 -.ting-ed9e thinkin9 c2rÈer j 'as .n<i4r- r.Csdepiic ledve"5 Èwhieved postgr3duèt rsl-clcss desree no le3vers Ech eved lasle-, Is t@it31r.&nt s'.Jden15 IMPACT AND ACHIEVEMENTS on,Ii.'ii.es 51rop.g pos tior lÈ-de".ship. pol,cies or-,lolio ie-ms eACePlion tnd3..C5 pr3C'.ItÈ, ieachirg arr.Ip,g. ,d èmploymeni Ilbeing 5Ji ppoll to or9tn15p rBI2 eleclronic3'.1y. spoke Jtudeg-. our mitif,13 170 Access IAountviewi State,TiP.[ orkiiig OLir websiie continuing students Aw3rds upd31d receik'ed IDaDAI funding Fun¢ing Agency LO College Diplo,g7 fundraising iof 5cho13rships %tuoonts were supported emergency granis 20221L .ieanv4Tr le acrttss commurb.ty 4lter nc'usrfy e?5uring OLJtwErc IEcing t.ACC-riDIlC._ anc Eeucction omplete 9anisaii?ri oi'er SC ol cur agdilion lo rhKouchou-, unc which generou5 dopialions supptsrL O., Troining Intend to Ovision rèplacKs DaD4 'Aith ellective apprca- Sludeni exoer,e.'Ice and tu,-ri¢ulum steeLS are partne's tommiltec chom.piop".ns 9enders. cultures ènd Ihe rmportor,ce olihe sludeTr- 3mpèion luce,?IS 51aH to pronLJ'iCIE".IC.- .heir tiiYÈS siudents 0 3nd to pi?clice conli'lLe upn414 iandards. oli our prattitè, remEIll O i)ngDin deelopme•,. Isuring our sc.ool Access to our scholarship Impiove occess 2ppropriaie Jicc SIG 2023,'202 re enhancemeTr,', iominuinily 9foL'PS creale Ixed-vse students nd itsrtimèroicl niiti< communiiy eTrable) to alon951ce hEred building cvlop.me-. ÈvÈnirTrg c13sse5 lorihe communiiv veelend provision will luriher Ènco4J-, age fommilmeni Iinc'ing drtl0ul2rd progTeSRifJn lr3.ninc n3iional to p.cce55 beneil1S from ou- rpgiooal 3Lditions VI1ch emerqi ie auditions ur SLUGpnfs -oTrlinue¢ 10 populer nd companie5 01 Dr Sefflme.'we15.reheE.r5, ng rousic Theatre IB YIVTI. Jufi,nO o-o IihÈ leading Gnce Compony lor disab..ed an non-e15abled .¢nce151 Toureiieshero leading creèiive prcclilioner specia1151n9 -?51dent In mountle 5 building mecium- ' 3.Tr9-term |ti¢SeS devÈloplreiieBrE-. .'olessionG Indo51r an¢'hr)S OL.r ouild.ng rouitis cLnimitmeni network tc. Innovotion iounivievu Cal',til. eKDerirnerit Inrov31ion 90giral directi01 collabcr3-.lve alsc eviver.l-Ir 41nc.ueifTho aLI- evidenl 2cross uile15 corr.p.'Is& the roolioD .-es13ur3,'11 Lc3oJno 831.and Westland coliee s,Icp cnlinuously open lor'business Is.a strength exte"31 /119hi. )s
-•Tr , wi,, )',! Acudemic Programmes Wos Èrnrolment anothe acr05S Nfrouplvie was excellent occesion rom pre-degre" ster 5 Rerention rem81 s".udenTS leve15 student Inierruptions Interrupts Educ3ilts working relation5hiD vie0 Course5 revolidalion cre3tÈd Oplions commitmen.. PrL'l0u5[Y Mancheste,. regional oxppr L'& datoc P-oduction oundailoni Mo_n-.s'1È¢ Herina COYiipLe couise5 na5 Simpli iathei oegrees ss pertpersh. re9 onal Found31ion centre Musical Theatre Quality Assuronce Mounlview submission Standard5 continues peer-to-Eeer observ3lions leader commondpd aC3demic ère pedberk 'egul?rory oblig3110nS relurn5 highpr rron tore otlic Educailo si3tutory continue assessed observgtion (Dur IHESAI commended developTr.e servalion another enh3ncemoDI xternal 05iessmeni teachi-, g Strong culture cras epartmt'nt wor 3n ddilicn xternal orrip?risCP5 3chieved ofjeoing Ine xaminÈ 5erlor $12n retx.thrk-..A exarniner repori )tucÈ.q-. 5ysfems Student Support Mountview are Man2ge 'Cn() =stcrr. suèsc'iprio vihic ers choice coLnsel lors represen dilferèr.I thtsrapeutic approachés StuceDt r* direclec out51de a5encies 3nc reievanl. ex3rnple afflaritgn Qwilchboar Èlpline oD[lAIn9 ssessments Educ3'.ional Psycholog sts diagnosing Identilying 5pe¢ts Man2ger support COITimuni experience varied suppor etwcrk '(herecl 5upF¢r 5tL.dent leGrning 5upporlS hiou41.
Artistic Progromme und Events This year, undergraduale work included established and contemporary material including Gas Statton Angel by Ed Thomas which toured to Further Education Colleges. A new adaptation of Alice in Wonderland w3s written in-house and played to excited audiences ol local young people and adult5. Thi5 was followed by Vinegar Tom and Oh, Vvhat a Lovely Warl A Lrttle Night Music by Stephen Sondheirn was followed by Made in Dègenham. Bère and The Addams Family. Blue Stockings by Jessica Swale was extremely well- received and finally, the Disney musical The Little Mermaid thrilled audience5 of all ages. Natassia Bustamante Starred in the musical Police Cops Carleton Hobbs Winner Josh Bryant Jones recorded several major pl3ys for BBC Radio Jack Hyland appeared in Blue Balls at the Edinburgh Festival George Hawkins filmed his gUlar role in TV hit Tell Me Everything Lydia Whitehead has a leadlng role in a new Sky TV Drama. 500n tQ start filming Signe Larsson played in the Watermill Production of The Wizèrd of Oz The MA Performance produrtions includèd= Dance Narion. Serious Money by Caryl Churchill. Emma.. No One 8ut Herself. Mrs Beeton Says. and The Grain Store. Alongside these productions the View Festival showcased 18 MA Theatre Directin9 and MA Creative Producing students. The MA Site-specific Theatre Praclice students created theii final dissertation productions at the old Whittington Hospital and the MA Theatre for Ctsmmunity and Education Siudents celebrated their practice with participants from across the ornmunity. Max Bower joined the company of Choir of an Fied Double joined the international company on tour with Wuthering Heights Christian Cooper had a role in the feature film The Rèdleys Chumtsa Domford May played Jenny in the West End production of Aspects of Love Chyna Rose Frederick join the National Theatre transfer of The Crucible Grnduate Outcomes- ProfessloMI Students graduating from Mountview in 2023 did extremely well in finding find representation= 97% of all BA Performance students signed with an agent. Since finishing study at the end of May 2023. in the first 4 months as professional artists. just under 60% of 2023 graduates successfLtIIy found piofessional woik. includin9.' Grace Hodgett Young opened in the Jamie Lloyd West End production of Sunset Boulevard Joey Walden had a guest role in BBCS Doctors Josh Damer Jennings starred in the UK tour of Pretty Wornan Josh Patel Foster appeared in the premiere of Roman Holiday for Theatre Royal Bath Odelia Dizel-cubuca joined the West End produrtion of Harry Potter and the Cursed Child Adam Owers starred as Truman in the new Simon Stephens play Trurnan and the Arsonists at the Roundhouse Amrlk Tumber and Emily O'sullivan filmed Bèckstage wrth Luff for TV Bro9an Piggot hèd a guest role in Rurh for ITV Mira Morrison performed in the play Seven on the UKtour Sydney Spencer had a role in the prerniere of Twiggy The Musical at the Chocolate FaOry Pablo Gomez Jones joined the company of In Dreams at Leed5 Playhouse and Is currently in To Wong Fu for Hope Mill Theatre
PUBLIC AND COMMUNITY BENEFIT i1oLJnlview 5 as Seplembei reptrri ongoine comm'Jnit eT..I)éTrC-. proiecls coiidl.cled member new '.D3ry1 O-D3rtmei)t 'orksh?Ds ded Ac.rino. for vouri Ilryimoki c.p?opl= ctuic'ays .bufSbf>' Spring 2.3 LLIJry .summer Inark CniJinC ricce elkhoin Sprinr prulessiun?I s hEving emonsiraLed MoLinlviewi alu respec.tiiJe Pé..ilC'Pc. Sciiools. teachers -3inina yOLIO 2plituder.lor th= perfOrin0 Projec- ',nii13iÈd b proiect..wride iour Ilc. launched Ils ollerL 1gaL9ur .Mountvi pEopIé studio tL' oeve Pec<hcm projec15 ODen.qcvse Session Porl.'C.lQcnts oHered ITe.d T31ltse.ol Ihe wihole.co,mfflU1ilyg3V TriÈnds and Ihe svorksl)oc VQOS ch¢*Ce 10 shè'e.Ile.' 10.exoltrre 18 .Peckfi1,~ crr.bition iioen dec.oeii .nd Jigani enarfqec 'o.'Irh Mounfvi?w Roadworks people -.h oyers svsiem dLc.u.'i)er)li.,) eitQling decoloili ao.1iiÈS Palace .k.ampicJilI',Ig Theatre Peckham 2r-.r¥re-I Ppc.khE 11-. L'ssel 9rf15Ption di ag'.70'1 clianse j-re¢l c-rE'S Movement Factor,y
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BUSINESS PLANNING- CORE OBJECTIVES The Trustees are immensely graielul io the London Borough of Southwark for their continued support, enabling Mountview to rebvild p05t pandemic and deliver fully on the community benefits we are determined to bring to Peckham and the wider bcyough. The tablè below summèrises progres5 against core objectives.. Business Planning Ob"ective Reco9nilion as a leading • Professional and eurriculum drama school for development innovation and access in • Regional scouting- target missing the UK dernographic Admissions incltAsivity process review • Scholarship fvndrèising Re9ional Foundations • Revise aeademie portfolio • International pedagogical exchange Global promotion ol the brand International recruitment strotegic Action Currenl Stotus On90ing Recognition nationally in top four Access policy is celebrated Innovative work auoss curriculum Prolessional development at a hi9h level including Pho, MA SFHEA, Kfs Cert. • New Cert HE in development Recognition as a world- leading drama school lor training excellence Ong01119 • International activity underway Nev4 partnerships In development International students reglstered Strengthen links with ihe • Artlsl agency dialogues film and broadcastsng • Casting Director networking industries Board recruitrnent Ongoing Actin9 lor screen training IS strong • Facilities are excellent Promotional hlm being recorded Ongoing • Oiscussions undefway Provide stL•dent living accommodation close io the Peckham buildin Site identified Property developer identified for artnership • Increase hires Develop new income streams including.. o Regional Foundations o Mountview Exams o Mountview Online o Intefnational Summer School tour Dive¥sify our funding base to create a secure and s¢Jsièinable fuiu Ongoing Development of hires business Regional Foundation rollout • MX preparing to launch with Mountview Mu51cal Theatre Exams New short courses being developed Exploring surnrner schools abroad and at Peckham site Community engagement Research local cultural activity • cate local partneiships • Participate in community activities Offer classes. course5 arbd events Ongoing Good relationship with L8S Local partnerships are being made Generation Next is thriving • Peckham Sessions is expanding to w¢den participation
' Business Plonning Ob'ective Diversify ihe stsff l • People and Culture recruitment demographic.. I process review Acadernic teaching Alumni awareness raising of team to reflect and opportunitie5 represent the student l • Placemenis from Royal Central demographic School of Speech and Drama Development of artistic residencies • Commitmeni to Increasing salaries and hourly rate for sessional staff when possible • Review staff wellbeing approach • Staff wa9e increase link to new Income streams Review staff benefits and in-house development opportunities Strategic Acli Cvrrent status l Ongoing | • Increased diversity in core cademic staff team Fluctuating diversity in sessional staff and creètives is improving Develop staff condition5 nd benefits with future aim to become Investors in People Ongoing New wellbeing strategy and wo¥kplèce culture Hybrid working model in action Promotion of external development opportunities l Achieved Withdrawal from Trinity Diplomas nd the DaDA scheme frorn 23124 Intake Relinquish Osted UEA validate all our HE provi510ri Simplify èecovntability requirements through a strate9ic review of key funding, validating and accreditin9 Partners • Review Trinity. DaDA. Council lor Dance. Drama and Musical Theatre ICDMT), Ofsted BUSINESS PLANNING- LOOKING AHEAD The financial year 2022123 has been Iocv5ed on consolid6tion of student numbers, revitalising our community programme. fundrai51ng and commercial activities. In preparalion for the new business planning cycle. and In recognition of the Charity s need io generate Increased income growth ove¥ the next 3-5 years. the Executive team are developing a range of new projects. As our Peckham premises are alreèdy being utilised io near capacity. the locus ol rhese proposed projecis Is io generate income which is not reliant on building space. In addition to income generation these initiatives will a150 contribute to our access 9oals. A regional rollout ol Foundètion courses 15 underway with Birmingham and Exeter joining Manchester in 202412025 Our partnership with Z-arts in Manchester Is workin9 well and we are expandin9 numbers on ovr Foundation course in Musical Theaire. We are preparing to launch MX. our Mountview Exams brand. which will operate from our Peckhèm building. ai centres around the country and worldwide. Streamlining and developing our commercial hires offer, utilising the expertise. we have in-house to generate more Incorne and èttract hi9h.vèlue clients is 3150 è key part of our plan. We are also at an early stage of feasibility to develop purp05e-builr 5tvdent accommodation for Mountview. This will enable students to have the offer ol excellent zccommodation within walking disiance of the MoLJntview building and also provide additional studio space.
FIIIANCIAL REVIEW Review of Flnun¢iol Position For the year ended 31 August 2023 Mounlview reported net expenditure of ,8]1. including a tax credit provision of £581,377 in relation to Theaire Tax Relief of which there was a positive movement in vnre5tricted funds of £112,684. Charges to de5igTrated funds include non-cash for depreciation and effective interest payable amountin9 to £937.049. The remaining surplus of £87.554 relates primarily to restricted funds offset by the expenditure of the last of the endowment fund. Total income of E8.502.998 has intreased by £628,58918%1 from 2021122. Thi5 is due to etsmbination of growth in otrr venue hire activity. fvndraisin9 and an inflationary inc¥ease in tuition fees. The main souree of on90ing funding for the Charity conlinue5 to be tuition lees which contributed 80% of tolal incorne. £1.485,369117% of tuition incornel was received Irom the EdLJCation and Skills Fundin9 Agency in ihe form of Dance & Drama Awards for individual student5 which cover both tuition fee5 and maintenance support. The Dance & Drarna Award scheme has not kept pace with the cost of training and the cost ol living in London. As a result. student5 have lound themselve5 moTe financially Secure by obtaining a Sludent loèn and so the uptake of the Dance & Drama Awards has dimirsished over the last few year5. Mounlview has now exiled the scheme and will no longer provide awards to new students from 2023124. Instead, we will look to grow our seholarships provision to pro¥ide fi.nancial support to those who are m95t in need. Total expenditure of £9.821.186 ha5 increased by only £203.CQI 12%) from 2021122 despte an average increase in salary costs of 3.6% and significant inflalionary increase5. In October 2022. we began repayment of our loan commitments to the London Borough ol Southwark under a new agreement. Inlerest repayments of £394.435 were due ITh 2022123. However, accounting standards require us to char9e full effective Ente$t of r195,689 10 be charged to the accoijnts with the difference of £401,254 being held on the balance sheet as a liability. at 31 August 2023. the total value of unpaid effective interest held on the balance sheet is £4.042.985. This will continue to increase and artificially worsen the reserve5 until 2025126 when the amount of loan interest payable be9ins to exceed the lull eHective inierest due to be rtCO9ni5ed. at which point the effective interest will begin to be released back Into the reserves. Investment Poli Under Its Articles tsf Association. the Charity has the power trj make any investments that the Trustees see fit. The Chaiity'5 modest level of reserve5 requires an investment policy which priorilises accessibility of funds. As of 31 August 2023. no lunds were held on deposil or in investment fund5 which the Charity consiclers the most appropriate investmenl strategy for its current financial posillon. eserves policy The Charity's total reserves have reduced by £736,811 169x1 from 2021122. Of this. £112,684 represents the surplus for the year on unrestricted funds, whilst £937.049 relates to the designated fund delicit through which capital project depreciation and interest charge5 pa55. 01 which £542,614 re non-cash transactions. A5 the designated fund has now been depleted, E310,5D4 01 non-cash charges that would normally have been posted to the designated fund have been Charged to unrestricted funds. The Charity had planned for a four-year deh.cit strategy on unrestricted funds. approved by the Trustees to enable Mountview to capacity build and embed its new bUSne$S model in its nev4 premises. Whilst the first phase of the Covid-19 pandemic redLJced operating costs. resultlllg in a 5urplu5 on Ljnrestricted funds in 2019120. the thnancial years 2020121 and 2021122 saw 5ignifficantly incieased costs requId to operate in è Covid-secure environment. However, 2022123 has seen a return to surplus unrestricted lunds resulting in a positive balance of £112.684 on unrestricted funds t the end ol the year.
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FUNDRAISING Mountview re91STered supported found8tions, 5tafutor.y bodie5 companies supported £xecu".Ive tribi.'t'Tc hilanihropic Individuals. Mountview s Developmenl deliver evelo?f,?l j cThmiiiep an¢ vDr5een Trustoes, Mountview's revenue year-on-year, Iigned philènthropic source5 E405.16Q. 202.1122 fundr3151ng tonrinues ountVi&vi's to )n Increa51n9 Immediale prpvious philsnthropic Income DonatlOD5 stI2Togic '-e-, Increa>ec rorriFaYoe ro 12022123 Phi13nrhropir Scholorships cu rrÈnt econornic climale i ountviewJ scholBf5hip don3tions were received, enabling continuing sludenf5 Scho13r5hips nSLiring divprse Increased comrnilted amongst Incoming Scholarships over E90.51 $1 Inclvding support pumber scholBfships coniinuing coming LeverhulmÈ WBrded Incomino potenlial studenT5, response, fo growing 2022123, E.270.853 1202.1122 irycre25e awardea, ci rcumsla'iLtfi rearpsentcfi%ie are 2r sfijdent TheJud Dench Fund for Access,io Troining honour throughout Mounlview P3rticularly cutely provide emergency giant5 to stLJdenr5 'e1[ar wellbeing student5 5uppori e55entials hpalth OUF Presidp- ca'i C05t-ol-Iivinc Mountvieknll thrive extraordir.ary don&ligns 10 unde'pin.ied t0S15 EFnergency Svpport ac¢ornmcdatiOn c?u,?selling seTVIC potenlial 2022123. Èn3bled delivering gran15 Mounlviews lunded sludenls Inc 13
RISK MANAGEMENT The Board considers the major risks to the Charily on an ongoing basis and reviews the systerns and procedvres that are established in order to mana9e those risks. The trustee5 implement a risk management strate9y that includes". An annual review ol the risks." The establishment of systems and procedures to rnitigate those risks identified.. znd The implementation of pr(Kedures designed to minimise any potential Impact on the Charity. should any of those ri5k5 malerialise. A compiehensive r15k register is reviewed at Executive team meetings and Board meetings. Thss identifies risk mitlgation factors curiently in place and sets out an action plan fo¥ further mitigation of risks. We have identified the following as significant risks= Finlln¢iol risks From 2023124 we beg¢n to repay our loan and ossociated intere51 from Southwark Council which means there is a need to Increase our income to meet these repayments. llj Sludent numbers A 5ignilicant proportion lover 80%) ol our income comes from student fees and otjr budget is predicated on achieving target numbers ol students on each course. We have a robust marketing & recruitment strèie9y. which includes at least 30 schools and outreach activities a year including online events. career5 fairs and In-person sessions. Our Foundation progTamme5 and parlicrpation work addition311y create a pipeline ol potential Students. b) New income streoms There Is a risk around new and untested income Streams. such as Mountview Exams IMXI and the expansion of the regional Foundation courses. Our existin9 connection to Siè9ecoa£h will prove Invaluable In rolling the exams out, and we will be piloting the scheme with Stagecoach Malta In autumn 2023. This will provide useful learning before Y4e launch the scherne. OlQual acueditation will give the exams additional kudos. The pilot Foundation held with Z-arts this year was very successlul and numbers on the course in 23124 have ir¢creased. Plans are already in place to Toll ihe Foundation ovt lo MAC in Birmingham. and Exeter Phoenix. 15
Operolionol risks Equipment failure.. under-invesimeni in key pieces of equipment means some zre neèr end-of-life and represent single points of failure for sorne èetivities 5t3ffin9.' some department5 are stretched due to siaffing budgeis being frozen. or inability to recruit due to salaries offered. In addition. there has been considerable change in the senior management team and structure in the last two yÈèrs which has caused gaps in knowledge Lingering snagging issues." Ihere remains an issue around the air-handlin9 System which leaves some areas of the building incredibly hot in the stjmrner months. This has a knock-on effect around our 3bility lo hire out spaces. We have received lundin9 to addre5$ this in key spaces COMPLIANCE WITH INTERNAL AND EXTERNAL REGULATIONS The financial statements comply with Crn1 statutory requirements. the Articles of Association and the Accovnting and Reportin9 by Charities.. Statemenl of Recommended Practice èpplicable to charifies preparin9 their èccounis in accordance with the Financial Reporting Standard Applicable in the UK and Republic of Ireland (Charities SORP FRS 1021 and the Financial Reporting Standord applicable In the UK and Republic of IrelJnd IFRS 1021. The statements and this ieport also include the information required by the Office for Students, accounts direction. STRUCTURE, GOVERNANCE AND MANAGEMENT ORGANISATIONAL STrUCTURE MounÈview Academy of Theatre Art$ 15 a tompany limited by guarantee and is a registered charity, number 2741¢56. Its governing document Is Its Artfcles of Association. Motjntview Is managed by a Board of Trustees. chaired during the fi.nancial year by Dame Rosemary Squire. The Trustee5 are also directors of the cha¥itable company lor the purposes ol company law, as well as being members ol the company. None of the directors has any beneficial inteiest in the company. As members of the company, each guarantees lo contribute £1 in the event of a winding up. The Board meets four times per year. There was one standing sub-committee to the Board during this fi"nanoal year= The Finance and Resoulces Committee meets two to three weeks before each Board Tneeting ènd plays an important part in the overall governance structure. giving advice to senior man39ement on finèncial, people and operational matter5 when réquired and aSSlSiing the Board with the fullilment ol its fiducsary duties. The Committee was chaired by Helen Én¥ight during the financial year, with Dame RoserNary Squire and Sir Brendan Barber as rnembers. There are also two regular co-opted members on the committee. Ann Cutting and Simone Brown. and the facility to appoint further co-opted members as and when ihe company requiie5 specialist advice oi strategic guidance. 16
SalpgU- 5ludeDI ronjrols ¥rymTILEee roct4ure5 DevelaDme,g1 3me Tr, osDrp3r Ccmry Irree Squirp .Fi%!Trmpn" during suFrcr- ExGr:ulives rp2naced ECL'ive SeplerTiber Sep'LerrbeT n51ord, Exe=ulive Abi9ai Ji'ec:or Director Griiion iainuel Aanslorc. Franks, Vaiihew Turobull S1,.n.-t-, Se?feT>er Executive Dire--.ur Direc.".k?.- Commeicial lopmDpt ptem¥e-, Septeniber aihan C.Iréctor Sienning. Inleritn rfogikA_ If¢ncè Feb.-ua.')' LxecJliv Direc-i?r 09 Ae_Dlib nice APPOINTMENT riETIREMENT TRUSTEES p.'c eniber.- nis exper erce oversicJht, governon=É duc¢l O exoeriise io arov dts lorn Possible Informed glaNCe Ir siness Ini o.'Jemeil 17
INDUCTION AND TRAINING OF TRUSTEES eelopme1l r Jlicy su'pports and encourage5 stoff to underLokè 'Oie5sional è5519nrnei IS, commissions proved developiilc ècross orgonisation Sr311-b4Jioe Inlormation sharing dÈlivÈr2d Ihrough progKarnmes, developnipnl meeting IhÈyÈèr Trustees and re5ponsibililies Iiuste&. iogcther with Articles ot A5socI?II.- latest audited Report Statements ThÉy meet Chèi[Inan Trustees Executive team member In51ght Into operations Charity Trustees are appropr131e Aevelopmen15 Into[2110 -Trroughout '.J Jptri 1. consuliBtion ensure views Into KEY POLICIES mmunicaiion employee5. -)ncerns decisions whicb, eeiing5, IEAedback LKJpbrtment eeiings. stc surveys. monègem- -Tr15 Dioce5 Staff and Remuneration ro cceLJni excludin9 expÈn4itu-, re ountviéw s cpproved limitèd operating average Incre3se Seplember Trustee" core res&'¥es, lo 2023 Health and,Safetv Healih SalÈi] repre5ent3tik.es SGnisBtion durin9 Director ol V@nue Est8ies r¥pre5r1t[io1] too Regu13r health reporis are prpspnled rplèvhni L.ISCU55ed mpetii?g: rrr)Ilteo afe ifjountview pensions uiomatic enrclmnt benefits as se350n rD-work 5cherp.es. sireei discounr to wellbeing service remLJneratiorh benelils packEge current together bwith Iickei 10 produclions as access revie%v stall 2022122 was chaiiÈd TrusiL e mèll?r% sclemes, gulcrly conducled Èxternè1 ITI piovèfrient recommendaiions Inform Commiitee action rrhcomin9 nnuBI healrh 15 presented Interim repo,-ts are seni to Fin3rice Resources C)mmiiiee. highlighiing occident near received 521èiy COiTrmltte executive teèm Healih Saleiy Committee are £xecutive team meeting Minute5 01 meelings 3re 150 circulbted throughout tFI= cigcnisètion d15CU5510n variou5 CoMprny'. management personnel are Trustee5 recommtrn(J&rion Resources Commiltee m3nageme.yl personnel levels re benchmerked 3g¢insi .'Idustry mark1 rate5 anDual Ine aiNarder lo decided Issue r?Ised ryinutes rp -e5e G9PIIFP. 18
Safeguarding & Child Piotection Mouniview believes that the health. Welfa and safety of children and adults Ivulne¢able and non- vvlnerablel is of Paramount importance and that all people without exception have a humèn Tl9ht to be protected from abuse of any kind regardless of age. gender. ethnicity. disability. sexuality. gender identity, lifestyle or religious beliefs. Mountview has a Sèfeguarding Committee to ensure that effective safeguarding policies and procedures operzte across the organi5ation. This includes the Prevent duty for Higher Education Institutions to have due iegard to the need tg prevent people being drav4n into extremism. An internal safeguarding working group supports the Safeguarding Committee in its responsibilities. Effective safeguarding begins with staff being well informed, being aware of safeguardin9 issue5, and lollowing greed procedures. Staff members are required to report any concerns of potential risk io selflothers or of abuse immediately through the procedures outlined in Mountviews safeguarding policy. All concerns of potential risk and allegations ol abuse are taken seriously by Mountview and responded to appropriately and sensitively. At the start of the ye3r. as part of the Stvdent indueiion week programme. staff and external professionals provide excellent guidance to students on how to maintain their personal safety, look after their physical and mental health, work safely in practieal workshop$. and mainlain a professional profile online. Equllllty ond Diversity Mountview fulfils its core charitable aims by offering a diverse portfolio of full and part-time COLtr5e$ and workshops. enabling people of all a9es and backgrounds lo enrich their knowledge, 5ki115 and experience of the theatre art5 sector. Our Equality, Equity. Diversity and Inclusion Policy sets out our commitment to creatir*g an environment where diversity is celebrated and equality of opportunity is embedded for all Students and staff regardless of race, ethnicity. gender. disability, age. sexual orientation, belief or feli9ion. Our aim is for our staff and student bodie5 to be truly representative of all areas of society. We are committed to tackling Inequality in all its forms, and to both meet and exceed current obligations under legislation. By doin9 more than is required by law we will continue to build on Mountvtew's current reputation and pradice as a diverse and truly inclusive arts training inslitution. 1.1,
li) Sprin9 2023 we creaied an Equality, Equily, Diversity & Inclusion Committee consisting of staff and Trustees to drive lorwèrd shorf- rTrediurft- 2nd lorsg-term action5 round the Equality. Equity. Diversity & Inclusion agenda. The Committee is committed to.. pinn Breakin9 down barriers to Inclusion and cultivaling a more divÈise staff and student body Creating a learning environment rhat progresses racial equily and justice Developin9 a learning environment ihat a&ances LGBTQIA+ Inclu51011 Embracing disab51ity. neurodiversity and learning differences., enabling access and pioviding support where required Ensuring our home Is welcoming to all and encouraging community engagemenl Fostering a culture of awareness and accountèbility. where equity and inclusion ère 3 shared responsibilily cross all stakeholder groups Repoiring the curriculum and engaging a range OE perspectives within our te3ching and learning Supporting international sluderbt5 and valuing cross- culiural exchange Tacklin9 9ender-based inequities and gendef-based violence Utilising staff and student voice to consider different viewpoinis and experiences ',IjIIIII,BB Iiii 511 Our Sludents are actively recrvited from a diverse range ol bèckgrounds via Initiatives such as regional and local scouting and nètionwide workshops and audittons Over 23% on rhe 3-year acting programme and 18% across all undergraduate progr8mme5 are from Global Majority backgrounds. We strive to further improve on these statistics going forward, parlicularly with regard to rhe diversiiy of our musical theatre cohort where we now have 20% G5obal M8jority Students. Illllllllllllllllllllllll We also ensure that we offer equality of opporttjnity across each student cohoit and Il is evident amon9St students thai they relish the opportÈJnities aflorded them by being In a group that has a mixed demographtc. Staff selection ol plays ènd musicals takes into account rhis demographic and respond5 to what is an ever-chan9ing mix ol yoiing 3dults frorn 3 wide range of backgrounds. C8Stin9 Is allocaied on the basis of student 5uiiabilily for role and Is Irrespective of disability or ethnic origin_ Gender balance is COn51dered in the selection ol materials to ensure thai there are sufficieni opportunities Equality of opportunity Is also embedded in our staff recruilmgni. retention and development policie5. in line with the Equaliiies Aci 2010. Reasonable adiuslmenls are fiilly considered durin9 recruitment. appointment and employmeni. and training and career development opportunities are provided a5 lor èll employees.
INTERIIAL CONTROL The Trustees retain overall responssbility for the Charily's System of internal control. CO9ni5ing that such controls can provide only reasonable and not absolute assurance against fraud and irregularities. Controls are set up to saleguard the Cha¥ity's assets and ensuie that the company is operating effi.ciently and effectively whilst achieving best value in relation to ifs expenditure. Jvts The Charity's controls include documented accounting procedures and è clearly defined framework ol delegation of authoiity Irom the Trustees to the Chief Executive and onwards to senior stam. The annual budget is approved in advance each year by the Trustees and financial reports. highli9hting any actual ènd projected variances of outcome against budget. are scrutinised by the Finance & Resources Committee and presented to the Board at each meeting. The Trustees. annual report and strategic report lin their capacity as compèny directorsl were approved by the Board of Trustees and signed on its behalf by.. DAME ROSEMARY SQUIRE Charrrnan 25 January 2024
STATEMENT OF TRUSTEES, RESPONSIBILITIES The Trustees (who are also directois of Mountview Academy ol Theatre Arts Ltd for the purposes ol Company lawl zre responsible for preparing the Trtjstees. annual report and the financial statements in accordance with applicable law and United Klngdom Accounting Standards Iunited Kingdom Generally Accepled Accounting Practice). Company law requires the Trustees to prepare financial statement5 for each financial year which give a true ancl fair view ol the state of affairs of the charilable company and of the income resources and application of resources, including the income and expenditure of the charitable company for that period Irb preparin9 these financial $tatements. the trustees are required to". Select suilable accounting policies and then apply them consistently- Obse¥ve the methods and principles in the Charities SORP., Make jud9Ements and estimates that are reasonable and prudent: State whether applicable UK Accounting Standards have been lollowed. subjeet to any material departures disclosed and explained in the h"nancial Statements and. Prepare the financial statement5 on the going concern basi5 unless it Is inappiopriate to presume that the Charity will continue to operate. The Trustees are responsible for keeping propel accounting records that disclose with reasonablè accuracy ai any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2(K. They are also responsible lor safeguarding the assets of the charity and hence for taking ieasonable steps for ihe preveniion and detertion of fraud and other DISCLOSURE OF INFORMATION TO AUDITORS Each of the Trustees has confirmed that there 15 no info¥mation of which they are aware which is relevant to the audit, b(Jt of which the audstof 15 unaware. They have further confirmed that they have taken appropriate steps to Identify such relevant Information and to establish that the audilor5 are aware of such Information. 22
INDEPENDENT AUDITOR'S REPORT TO THE MEMEBERS OPINION We have audited the hnancial Statements of Movntview Academy of Arts I'the company) for the year ended 31 August 2023 whjch comprise the Siatemeni of Financial Al¥l¢le$, the Summary Income and Expenditure Account. the Balance Sheet, the Cash Flow Statement and notes to the ftnancial Statements, incltjding significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kin9dorn Accounting Standard5, including FRS 102 'The Financial Reporrin9 Standard Applicable in the UK ènd Republic of Ireland. (United Kingdom Generally Aceèpted Accounting Practice). In Ouf opinion the financial statements: give a true and fair view of the stale ol ihe charitable eompany's affairs as at 31 August 2023 and of its Incoming resources and application of resources, including its income and expendtture, for the year then ended: have been properly prepared in accordance with United Kin9dom Geneially Accepted Accounting Practice. and have been prepared in ac¢ordance wilh the requirements of the Companies Aci 2¥X. And in our opinion in all material a5pects'. funds administered by Mountview Academy of Theatre Arts Limited for specific purposes during the year ended 31 AugLlSt 2023 have been applied to those purposes and managed in accordance with relevant legislation.. fufids provtded by the Education and Skills Funding Agency have been applied in accordance with the terms and conditions of Ihe Accounts Oirection and any other terms and eonditl0n5 altached to them during the year ended 31 August 2023,. and the requirements of the Ofs's Accounts Oirection have been met. BASIS FOR OPINION We conducted our audit in accordance with Iniernational Standards on Auditing IUKI IISAS IUKII and applicable law. Our re5ponsibblitie5 under those standards are further described in the Auditor's Responsibilities for the audit ol ihe h'nancial statements section of our report. We are independent of the charitable company in accoidance wilh the eihical requirements that are relevant to our audit ol the financial statements in the UK. including the FRC 5 Ethical Siandard, and we have fulfilled our other ethical responsibilities in accordènce with these TequiTements_ We believe that ihe audit evidence we have obtained is suFh"cient and appropriaie to provide a basis for our opinion. CONCLUSIONS RELAnNG TO GOING CONCERN In auditing the financial statements. we have concluded that the Tiystees, use of the going concern basis of accounting in the preparation of the financial statements Is appropriate. 8ased on the work we have performed. we have not Identified any material uncertainties relating to events or conditions that. Individvally or collectively. may casf significant doubt on the charitable company'5 ability to continue as è 90ing concern for a period ol at least twelve months from when the financial statements are authorised lor i55ue. Our responsibilities and the responsibilities of the Trustee5 Writh respect to going concern are described in the relevant 5eclions of this report. 23
OTHER INFORMAnoM The other information comprises the information ineluded In the annual report, other than the fi'nancial statements and our auditors report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the th"nancièl statements does not cover the other Information and. except to the extent otherwise explicitly stated in our report. we do not expre55 any form of assurance conclu510n thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information 15 materially inconsistent with the linancial statements Of our knowledge obtained in the course of the audit or otherwise appears to be materially rnisstated. If we identify such material inconsistencies or apparent material misstatement5. we are required io determine whether there is material misstatement in the financial statements themselves. 11. based on the work we have performed, we conelude that there Is a material missratement of this other informalion, we are required to report that fact. We have nothing to report In this regard. OPINIONS OH OTHER MATTERS PRESCRIBED BY THE COMPANIES ACT 20IX• In our opinion, based on the work undertaken In the course ol ihe audit.. the information given in the strategic report and the trustees. annual report for the financial year for which the financial statements are prepared 15 eonsistenE with the fi.nancial statements., and the strategic report and ihe Trusiees. annual repon have been prepared In accordance with applicable le9al requirements. MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION In the light of the knowledge and understanding ol the cornpany and Its environment obtained in the course of the audit. we have not identifi.ed material misstatements in the strate9ic report or the trustees. annual ieport. We have nothing to report in respect of ihe followin9 matters where the Companies Att 2CX%S requires us to report io you if, in our opinion.. adequate accounting records have not been kept, or retums èdequate for our audit have not been received frorn blanches not visited by us," or the financial statements are not In agreement with the accounting record5 ènd Teturns., or certain disclosures ol Trustees, remuneration specified by law ale not made., or we have not received all the information and explanations we require for our audit. RESPONSIBIUTIES OF TRUSTEES As explained more fully in the Trustees, responsibilities statement set out on page 22. the Tvustees Iwho are also the directors ol the ehèrbtable company for the purposes of company lawl are responsible for the preparètion of the financial statements and for being satisfied that they give a true and fair iiiew. and for such internal control as the Trustees determine is nece55ary to enable the preparation of financial statements that are free frorn material mis5taternent. whether due to fraud or error. In preparing the fi'nancial slatements. the Truslees are responsible lor assessing the charitable company s ability to continue as a going concern. disclosing. as applicable, Matters related to going concern and u51ng the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. AUDITORIS RESPONSIBILITIES FOR THE AUDIT OF THE FINANCIAL STATEMENTS Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are flee from material misstatement. whether due to fraud or errof. and to 1$5ue an auditor's report that includes our opinion. Reè50nable assurance is a hi9h level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKJ will always detect a material m455taternent when It exists. Missiatements can arise from fraud or error and are considered rnèterial if, individually or in aggregate. they could reasonably be expected to influencÈ the economic decisions of users taken on the basi5 of these financial statements. 24
As part of an audit In accordance with ISAS IUK) we exertise professional judgement and maintain Pfolessional scepticism thTOUghout the audit. We also-. Identify and assess the risks of material rnisstatement of the fi.nancial statements. vknether due to fraud or error, design and perform audit procedures responsive io those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud 15 higher than for one resulting frorn error, as fraud may involve collvsion. forgery. intentional omissions, mjsrepresentations, or the override of internal control. Obtain an understanding of inrernal control relevant to the audit In order to desi9n audit procedures thal are appropriate In the circurnslances. but not for the purposes of expressing an opinion on the effectiveness of the charitable company5 inteinal control. Evaluaie the appropriateness ol accounting polities used and the reasonableness ol accounting estimates and related disclosures made by the Trustees. Conclude on the appropriateness of the Trustees, use of the going concern basis of accounting and. based on the audit evidence obtained, whether a material uncertainty exis15 related io events or condition5 that may cast significant doubt on the charitable company's ability to continue as going concern. 11 we conclude that a materièl uncertèinty exists. we are required to draw attention in our auditoi's report to the related disclosures in the financial statements or, If such disclosures are inadequate, to modify oijr opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or conditions may cause the charitable company to cease to continue as a going concern. Evaluate the overall presentation, structure and contenl of the fi.nancial Statements. including the disc105ures, and whether the hnancial statements represent the underlyin9 transactions and events in a manner that achieves lair presentation. We cornmunicate with those charged with governanct regarding. amon9 Other motters, the planned scope and timing of the audit and signith.cant audit findings. includin9 any $i9nfiCant deficiencies in Internal control that we identify during our audit. EXPLAMATION AS TO WHAT EXTEIIT THE AUOIT WAS CONSIDERED CAPABLE OF iTEcTING IRREGULARITIES, INCLUDING FRAUO Irregularities. including fraud. are instance5 of non-eornpliance with laws and regulations. We design procedures in line with our responsibilities. outlined above. to detect material misstatements In respect of ¢rregularities, Including fraud. The extent to which our procedures are capable of detecting irre9ularities, including fraud Is detailed below_ The objectives of our audit in respect ol fraud. are." to identify and assess the risks of material misstatement of the financial 5tatement5 due to fraud,. to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. through designing and Implementing appiopriate responses to those assessed iisk5.' and to respond appropriately to inslances of fraud or suspected fravd identified during the audit. However. the primary responsibility lor the prevention and detection of fraud rests wilh both management and those charged with governance of the charitable company. Our approach was as lollow5'. We obtained an understanding of the legal and regulatory requirements applicable to the charitable company and considered that the most significant are Ithe Companies Act 2(. the Charilie5 Act 2011. the Charity SORP, and UK financial reporting slandards a5 issued by the Financial Reporting Councill We obtained an understanding of how the chariiable company complies with these requiiements by discussions with m3nagernent ènd those charged with 9overnance. We assessed the risk ol material misstatement of the financial statements, including the risk of material misstatement due to fraud and how it mi9ht occur. by holding discussions with management and those charged with governance. We inquired of mbnagement and those charged with governance as to any known instances of non- compliance or suspected non-complianee with laws and regulations. Based on thi5 understanding. we designed specific appropriate audit procedures to identify instances of non-compliance with laws and regulations. This Included making enquiries of management and those charged with governance and obtairting additional corroborative evidence as required. 25
There are inherent limitations in the audit procedures described above. We are less likely to become aware of Instances of non-compliance with laws and regulaiions that are not closely related to events nd transactions reflected in the financial statements. Also. the risk of not detecting a materièl misstatement due to fraud is higher than the risk of not detecting one resulting from error. as fraud may involve deliberate concealment by. for example, forgery or intentional misrepresentations, or through collusion. USE OF OUR REPORT This report is made solely to the chaiitable companys members. as a body. In accordance w¢th Chapter 3 of Part 16 of the Companies Act ?6. 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 auditors report and for no other purpose. To the fullest extent pemitted by law. we do not accept or assume responsibility to any party other than the eharitable company and charitable companys mefflbèts as a body, for our audit work. for this report. or lor the opinions we have formed. JAMES SAUNDERS Date." 7 February 2024 Senior Statutory Auditor For and on behalF of Moore Kingston Smith LLP. Statutory Auditor 6th Floor 9 Appold street London EC2A 2AP 26
STAfEMENf OF FOPIAfrICOAL ACfUVllfllES FOR THE YEAR ENDED 31 AUGUST 2023 Noto5 Urw#tr[Èd Desi9nat•d Resitthd Fund5 Fthids Funds En<kn¥ment 2023 Totsl Fund5 Fund5 2022 Total Fund5 Income from Gener8ting fund5.' Donations and le9acies Income from Investment5 77,114 51S453 592,567 470.714 4.t02 4.602 13.112 Chèritable activitis'. Education Income 7.077,154 6.732,015 Other income 828.675 828,675 658.568 T•tal in£orne 7,987.545 515.453 8,Y12,998 7,874,4041 Expenditure on Raisin9 lunds." Fvndfaisin9 CQSts Charitable artivities.. Educaiion costs 776.855 176.855 1)2.597 8.396.338 937.049 ,647 2,297 9.644.331 9.505.498 Total expenditure 8,573.193 937.049 X)8.647 2.297 9,821,186 9,618,095 Net income I lexpenditurel 1585.6481 1937,0491 112971 11,318.1881 11.743,6861 Transler between funds 21 16.955 1112.1381 14.8171 Other r•co9nised gains: Tax Credit 23 581.377 581.377 183.486 Net mo¥em•nt in fvnds 112,684 1937,0¢9) 17.1141 1736,8111 (l.5j,200l Fund balances brought forward 163.5281 937.049 189.410 7.114 1.070.045 2.630.245 Fund balances carried forward 49.156 248.078 333.234 1.070.045 Full comparatives for 2022 are shown in note 26. 27
BALANCE SHEET AS AT 31 AUGUST 2023 Notes 3)23 2023 22 2022 Fixed Assets Intangible assets Tèn9ible assets Curr•nt Assets Debtors 12 32.334 27,739 28.826,168 13 28.413.088 14 4.931.418 4.577,201 327.740 Current a$t investment- Cash on depos Cash at bank and in hand 2.787.453 2.943.137 7.718.871 7.848.078 Creditors.. Amour+ts fallin9 due within one year 14 N•t Curyent A55•ts 18.374.276) 18.277,C(01 1610.4051 1428,922) Creditor$'. Amounts falling dv aft¢r •n y*ar 15 127.501.783) 127.354,940) Total Net Ass•ts 333.234 1.070.045 Funds Restricred funds 21 284.078 189.410 Endowment funds 21 7.114 Unrestritted funds". Designared Other unrestricted 937.049 49.1 163.5281 333.234 1.070.045 App¥oved by the Trustees on 25 January X)24 and authorised for issue and signed on their behalf by-. DAME ROSEMARY SQUIRE Director Compuny Thjrnber 01019858 28
STATSN]EfrIT OF CASH FLOWS FOR THE YEAR ENDED 31 AUGUST 2023 Notes 2023 2022 Net cash used in operating activities 1124,7261 1662.4631 Cash flows used in in¥estln9 aclivitie5 Purchase ol tangible fixed assets Movement to cash on deposit Intere51 received IIUJ.3431 1289.8721 327.740 1,143,791 4,éO2 13,112 Net cash used in imvestin actiwties 231,959 867.031 Cash fl4)ws used in financing artiviti¢s Interest paid on borrowings Net C5h used in fin•ncin 1262.9571 liYiti•5 262.9571 Change in taslL and cash ¢guivaients in the reportin9 period Cash and eash equivalénts at the be9inn¢n9 of the reporting period Cash and £ash gyival•nts at the end ot the reportlng period 1155.68¢) 204,568 2.943.137 2,738.569 2.787,453 2,943,137
NOTES TO THE STATEMENT OF CASH FLOWS°'"""';" 31 AUGUST 2023 Ilei cosh provided by operoiing o¢iiviiies 2023 2022 Nei Income 1,318, 1&91 11,743.&861 Amortsation of intan9ible fixed assets Depreciation of tangible fixed assets Interest receivable 23,323 15,240 485.%15 471.437 14.élJ21 113.112) Interest payable Increase In debtors 795.689 PM,925 1354,21n 1333.613) 1697,89Z) 253,139 Incre35elldecr?asel In creditrKs Other rÈco9n15ed gains and1055e5- taxation credit receniab 581.377 183.4eo 1124.7261 16614631 Anolysis of net ED5h buloncÉs 2023 2022 Cash ai bank and In hand 2.787 453 2,943.137 2.787.453 2.943.137 AnDIysi5 of chon9es in nei debi OpÈning Cash flows Closing Cash & cash e9uivèlen15 Loan5 falling due within o Loans fallin9 due after more thaTh one year Total 2,94J,137 11 iS.é841 2,787,453 3Q),(A)O 23.398.549 23.698.549 13W.(XJD) 26.041.686 1155.6841 26.486.002
NOTES TO THE FINANCIAL STATEMENTS "" ;:" 31 AUGUST 2023 ACCOUNTING POLICIES Company Information Mountview Academy ol Theatre Arts Limited is è company lirnited by guarantèe domiciled and incorporaled in England and Wales. The reglstered office is 120 Peckham Hill Street. London, SE15 5JT. Bosis of Accounting These accounts have been prepared In accoidance with FRS102. the Cornpanies Act 2(X% ènd under the historicèl cosi convention. and in accordance with Accountin9 and Reporting by Charities.. Statement ol Recornmended Praaice Applicable to charilies preparin9 their accounts In accoTdance with ihe Financial Reporting Slandard Applicable in the UK and Republic of Ireland (Charities SORP FRS 1021. Mountview Academy of Theatre Arts meets the defi.nition of a public benefit entity under FRSIQ2. These accounts are prepared in sterling. which is the fvnctional currency of the charity, rounded to the nearest pound. Under seetion 405 of the Companies Act 2(Th the Charity is exempt from ihe requiiemeni to produce group accounts on the basis that its two subsidiary undertakings. Mountview Arts Centre Limited and Mountview Productions Limited. have nil net assets. Prepurulion of uccwnls on o going concern bosis Followlng our move to Peckham. Covid-19 pandemic, cost of living Crisis, and a change in leadership. Mountview has begun to develop a new 5-year plan in order to rebalance its fi.nances through a growth Strategy. In 2022123, Mountview launched It5 first regional Foundation progiamme and doubled its cohort in 2023124. From 2024125, w? will be expanding these regional centres across the UK and seeking accreditation for these pro9rammes. In 2023124. we will also be launching Mountview Music Theatre Exam5 whieh will enable young people and adults to develop skills and confidence In acting singing and dance through a serles of graded examination5. In addition. we have plans to review and expand both our undergiaduate and p05tgraduate offer and our participation programme, as well as develop a programme of short course5 which will include a suite of professional development courses. In 2022123. our loan with London Borough of Southwark was renegotiated to defer capital repayments and reduce Interest repayments by SO% until 2025126. The Trustees have reviewed Mountview's current and forecast cash resources and consider them to be sufficient to cover the working capital requirements of the Charity for at least 12 months from the date of signing this financial report and financial statements. A live year forward looking revenue forecast has been prepared which projects Mountviews performance. cash and reserve5. The Charity re9vlarly prepares curient and future income. expenditure and cash flow projection$ which are reviewed by ihe Trustee5 as part of the annual budget approval process. Updated financial performance reports and future foiecasts are piovrded regularly to the Finance and Resources Commrttee and the Board. The Trustees are aware thèt there will continue to be economic volatility for some tbme to come. and that the Charily has 5tgnific3nt income generation targe15 to achieve over the next 3-5 yeèr5. However, the planned growth, diversity of Iniome and cash projedions. as well as the control measures in place and rhe time and resources afforded to us by the renegQt13tion of our loan teTms, gives Trustees eonfidence that the Charity remèins a going concern lor the foreseeable future. The Trustees therefore consider there are no material uncertainties about the Charity's ability to continue as a going concern.
Income All Income is accounted for once the Charity has enlitlement to the income. the receipt is probable and the amount of incomè can be measured reli3bly_ Tuition fees comprise the full fees payable by 5tuden15. Where termly fees are invoiced in advance of the period to which the fees relate. thi5 income is carried forwards in the balance Sheet as deferred income and released io the SOFA in the term when the fees fall due. Grants are recogni5ed when they ale receivable. unless there are conditions attached to the 9iant, in which case they are reco9nised v4hen the charity becomes unconditionally entitled to the income. The charity receives grants Irom the Greatef London Authority. the London Borough ol Souihwark and the Education and Skills Funding Agency (Dance and Orarna Award51'DaDAII These are disclosed in note 2 to the accounts. They are recogni5ed as income once entitlement is unconditional and the amount can be quantified. Expenditwe All expenditure is included on an accruals basis and is recognised when there is a le9al of constructive obligation for payment to be made. Costs are disclosed in the following Categories". C05t ol charttable artivities comprise the cost Incurred by the Charity in the delivery of its activities and services and tnclude grants made and an apportionment of the support costs of the organisation Governance costs. which are a category of support costs, are the eosts associated wtth the strateglc direction of the organisation and with meeting regulatory requirements Support costs are those costs common io the fange ol activities of the or9anisation and are apponioned on the basis of time occupied by the company's employees rixed Assets Fixed a5setS COSt¢ng more than £1.(NX) are capitolised ot cost and a stated at cost less depieciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows.. Intan9ible assets over S years Leasehold property over ihe lease ierm. bein9 99 years Ilea5e startèd 8 October 20181 Fixtures. fittings & equipment over 3 to 25 years Motor vehicle5 25% per annum on net book value No depreciation is charged on assets in cotjrse of construction. Where assets are constructed as part of project for which specific identifiable assets are brought into service before the overall is completed. such è5sets will be transferred from assets In course of construction to building improvements lor leasehold property or fixtures. fittings & equipment as appropriate and depreciated from the date these are placed In service. Fixed assets are subject to an annual impairrnent review and review of estimated uselul life. rinoncial instrumems Cash und cll$h equivotents Cash and cash equivalents include cash ai banks and In hand and short term deposits with a maturity date of three months or less. Bllsic finonclol ossets lilI1e8 Basic ftnancial assets, which included trade and other receivables and cash and cash balances. are initially measured ai transaction price including transaction costs and are subsequently carried at amortised cost less any impairment. Basic linancial liabilities, including trade and other payable and bank loan5 are Initially recognised at transaction price. Trade payables are obligations to pay for goods of services that have been acquired in the ordinary course ol busin&ss from supplies. These are classified as current liabilities if payment is dve within one year or less. If not. these are presented as non-current liabilities Trade payables are reco9nised Initially at Iransaciion price and subsequently measured as amort15ed cost.
Leoslng Commitmenls Rentals pèyable under operating leases are charged against Income on a straight line ba515 over the lease term. Forelgn Currency TraIlatI( Transactions denominated In foreign currencie5 are recorded at the rate ruling at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchan9e rulin9 at the balance sheet date. Employee Beneffts The cost5 01 short-term ernployee benefits are recognised as a liability and an expense. The c05t of unused holiday entitlement is recogni5ed in rhe period In which the employees seNices are received. Termination benelits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment. 01 to provide termination benefi'ts. Pension Benefrts The pension costs charged in the accounts represeni the contributions payable by the Charity during the year to a defined conlribution pension Scheme. Fund Accounting The total funds of the charity 3re alloeated to restricted. endowment, unrestricted and designated funds based on the origins of the funds and the terms set by ihe donor5. Reslricted funds are subject to specific restrictions imposed by the donor. These are accounted lor separately and the costs of raising arid adrninistering the ILtnds are charged against them. Once the reslrictions imposed by the donor have been fulfilled the restricted lunds are transferred to unrestricted funds. If the restiictlon 15 fulfilled by the acquisition of capilal assets, unrestricted fund5 may be desigt)èted to reflect the value of the underlying asset now held within unrestricted funds. Endowmeni funds are funds which have been given with the expre55 Intention of retaining those funds a5 capilal lor the long terrn benefit of the Charity. Where the trustees have the ability io spend the capital of the fund this 15 treated 35 an expendable endowment fund. Unrestricted funds are those which are not 5ubJea to restrictions, and may be applied in furtherance of any of the charitable company5 objectives. Designated funds are unrestricted (unds Set aside by the Board OF Oirectors fof specific purposes. Provisions A provision is defined as a liability ol uncertain timing or amount. Piovisions are tOgniSed in accordance with FRS 102 when the charitable cornpany has a legal or constructive obligation as a result ol a past event, a reliable estimate of that obligation can be made and It 5$ Pfobable that an ouiflow of economic benebts will be iequired to settle the obligalion. Where the effect of the time value of money is rnaterial, provisions are recognised at a discounted rate. Monugement ot liquid TesovTces The Charity has one main current account from which all day-to-day transactions take place. The balance of this account Is kept to a minirr)um to ensure that surplus funds are placed on short- to medium-term deposits. The policy in managing cash is to maximise relurns and minimise risk. Restricted fvnd5 a separate bank accounts. Critical accounting estirnotes and Igernents ke¢overgble volue of fee debtors The compèny makes an estsmate ol the reeoverable value of irade and other debiors. When èsse55in9 Impai¥ment ol trade and oihei debtors. factors including the current credit rating of the debtor. the ageing profile of debtors 6nd historical experience are taken into account. Note 14 give5 details of the net carrying amount of debtors and the associated impairment PfOVlSlOn_
Provisions Provisions have been made for the dilapidalion of the Charity's previous rental premises. These provisions are estimates and the artual costs and timing of future cash flow5 are dependent on future events. The difference between expectalions and the actual fuEure liability will be accounted for in the period in which Such determination is made. DQNATIONS AND LEGACIES ljnresiricied Designoted Re51ricted fvr•ts Totol 2023 Totul 2022 Grants. donation5 and gifts. Operational artivities 77.114 515.453 591S57 458,214 Capital projecl 12. 77.114 515.453 592.567 470.714 Included In grants. donations and 91fts are governments grants from the Education & Skills Ftjnding Agency in relation to the Dance and Drama Awards Scheme of £91.88812022.. £87.1121. There are no unfullilled conditions or other contingencies attaching to the government giant income and the company has not benefitted from other government funded assistance. GfiANT AND FEE INCOME ntrIcied r)esignated fuTh15 funds esiricied fur Totol 2023 Toiol Grant income- other bodies 91.888 3Xtr.781 442.669 357.993 Fee Income- iavght awards Fee Incorne- non-qualifyin9 courses 5.957.431 5.957.431 867.329 5.799.708 807.329 692.3)5 6.916.648 350.781 7.267.429 6.849,906 INCOME Fofi INVESTMENTS Dtsignuted lunts 2023 2022 Interest ieceivable d602 DUCATION INCOME Unresiri¢ted Oesignoted Pesiri¢ted 2023 2022 Tuition Income 6,824.760 6.824 760 6.491 913 Community proiecis Audftions ].19? 149,114 92.195 7.077.1S4 92,195 7,077.IS4 6.732.015 OThEfi INCOME Unrestricted Designoied fuThls funds Restricted Tot 2023 Totol 2022 Box office 96.747 96.747 94,205 Rental income 694.Tr2 694.Tr2 462,073 102.>0 Fees and other income 37.636 37.636 828.675 828.075 658,568
ANALYSIS OF TOTAL EXPENoiivfiE Dire¢1 smff co$ oiher Dirttt Costs Jpport Costs Total 2023 Toiol 2022 Cost of9eneratiry fvnds.. Fundiaising costs Cost ol charitable activrties". 171.816 5.039 176.855 112.597 Education costs 2.538.012 5.175.733 1.9x1.586 9.644.331 9.5.498 Total 2023 2.709.828 5.180.772 1.930.S86 9.821.186 9.618.09S Tal 2022 2.310.549 5.213,236 2.094.310 9,618,095 TOTAL COSTS Fundroising Educoiion Governonce Total 2023 Toiol 2022 Statt costs (note 10) 171.816 2.538.012 2.71J9.828 2.310.549 Scholarships and bursartes Accrediiaton and validation 254.345 254,345 252,170 439.137 439.137 278,679 232.9 Production 185.968 186.968 Orher education costs 1.4SO.870 3.450,870 1,582,797 Office cosrs 5.039 1.172.949 344.769 1.177.988 1.171.OX) Premises Costs 344.769 321.148 Bank chaf9ÈS Interest payable Amortisatitsn and depreciation Support costs Inote 9) Total 2023 22.178 22,178 795.689 18,885 868.925 795.6841 9)8.828 486,677 1.863.194 67.392 07.392 1,930.5&5 9.821.186 2.1Tr4,311 9.618.095 170.855 9.576.939 Total 2022 112.597 9.449.286 56.213 9.618.095 SLIPPOPT COSTS FundmisiTrJ Ethjcotion GoverThJn¢e TotDI 2023 Totol 2D22 Staff costs Inote 101 1.804,W3 22,963 1,827.9 1.962.153 Preme$ costs 49.113 49.113 44.648 Capital development cos General expenses Legèl proles5K)nal fees Audit fees 10.058 I.¢A16 53.2( 34.423 34,423 17,295 Auditors. fees- othef services 10.CtrfJ 10.( 4.961 Total 2023 1.863.194 67.392 1.930.586 2.094.311 Total 2022 2.038,098 56.213 2.094.311 Capital development costs relate to expenditure incurred on the capital building project which are not eligible for eapitalisation as tangible fixed assets_
10 STAFFCOSTS Numbei olemployees e ¢ge niornt.Trly riL..TJe-, Education 2023 2022 Nvrnber e-) overs QU." 12P 112 Adrnini5tration and Student Support 8uildingJVenue OperatlOn5 32 28 69 223 209 2023 2022 Salaries and wa9es Social security cost5 Pension costs 4.058.481 3.840.103 363.639 349.733 108,431 96.208 4.530.551 4.286,044 In addition to employees paid through thepayroll the company contracts a number of Individuals to provide freelance Services In support of the company'5 activities. The total incurred in the year was £1.169.321 12022 £1.373.1161. Included above are redundancy and tevm4nation payments of £5.¢YJ) inCUrd in the year12022.. £8,(KX)I. The number of employees whose annual remuneiaiion was £e4).C(O or more were= 2023 Number 2022 Nvmber £70.O-79.w9 £80.(W9.W9 .(.1.999 Pension contributions totalling £12.955 were paid for the higher paid employees12022.. E24,7031. Key mana9ement personnel include the Trustees and members of the senior management team. There were 3 iemunerated members of the senior rnana9eTnent team during the year12022.. 31 whose aggregate pay and benefits amounted to £183.9YJ12022.. £196.8371. At the year end included in ueditors is unpèid pension commitments of £28,14412022.. £24,632). The reurneration package and ratio ol basic and total femvneration lor Heads ol Provider is a5 follows.. 2023 2023 2023 CEO 6 Artistic 2022 CEO 6 Awtistic Piincipal S CEO Execuiive Diieetor Basic 5alaty Eniployer pension contributions Othèr taxable benefits 93.547 49.3 11.9 87.083 11,824 6.288 1,415 7.283 3.958 Total remuneration 105.371 55.891 13.413 98,324 Pay multiple agaIt rnedian ba¥¢ glary Pay multiple against ndi•fft tot*1 r•muneration
The remuneration package for the head5 01 proivder Is set by the Board of Trustees. The Finance and Resources Cornmittee reviev45 this package anually. taking account of work performance in the year and benchmarking against eompèrative reumeration levels in the drama school sector and across the wider performing arts. The Committee recommends any adiustrnents to the remuneration package to the Board for annual appioval. Performarbce of the head OF providers is monitoried by means of an annual appraisal and regular meetings throughout the year with the Chair of ihe Board. TfiusTEES Trustees of the charity did not receive remuneration for their activilies in ihe current or prior year. During the year, one trustee claimed expenses totalling £3&1J in respect of travel and off-site meetings 12022.. One trustee w3s re11bursed £91 in respect of olf-site meetings). 12 INTAN¢IBLE FIXED ASSETS Website SDftwore 2023 To¢01 Bloughi forward 3t 1st Septernber 2022 Additions 28.836 88.6 27.918 27.918 Carried loThvard at 31st August 2023 Amortisation 28.836 87.781 116,617 8rou9ht forward a( 1$1 September X>22 Char9e for the year Carried lorward ai 31st Augtst Y)23 Net Book Value 23.(h8 37.892 S.7e 23.323 55.447 .283 At 31st August 2023 At 37 Au9USt 3)22 32.334 32,334 5.7t8 21,971 27.739 13 rANGIBLE FIXEDASSETS Lond 01 Iwilding5 lellsehold Fixtures. fi((ings S eqvipment Motor Vethic5 2023 Totol Cost 8rought forward at 151 September 2022 Additions 28.795.9W 1.964.430 16. J.777.229 72.425 Disposals / Adjustrpenis Carried lorward Ot 31st August 2023 28.826.989 2.005,865 16,800 30,849.654 Depre¢iatio Broughi forw3fd at 1s1 September 2022 Charge for the year Releas&d on disposal l adjustments Carried forward at 31st Au9U5t.2023 1.165.525 772,278 13,258 1,951.(V)1 292.386 192.S65 554 485.505 1.457.911 964,843 13.812 2,436.566 Net Book Value At 31st Au9USt 2023 At 31st August 2022 27.369.078 1.041.022 2.988 28.413.088 27 630.474 1.192.152 3.542 28.826.168
14 DEBTIJRS 2023 2022 Tr?de debtors 4.CA8.562 3.889.691 Bod debt provision Other debtors 1301.8881 1123.4441 782,691 527,777 Prepayments and accrued incorne 402,054 283.177 4,931,418 4,577.201 Within olher debtors are amounts of £Nil IXJ22= £Nill which are due over one year. 14 CPEDITORS.. A1UNTs FAWMG DUE WITHIN ONE YU 2023 Trade creditois 201.456 494.676 Deferred income 6.953.984 6,937,740 Social security and other taxes Other Cfeditors 146.396 136,747 161,4S9 222.671 192,776 143.291 Accru315 Loan Provisions (note 14tbll 343.310 371.770 8.329.270 8.277.000 14 PROVISIONS Bolance brought Amount ollo¢oied in year Amouni releosed in yeor BolDnre corried forward Provisions 371.770 133.4tA)I 343,310 371,770 133,4601 343.310 The brought forward provision relates to business related commitments In respect of lease dilapidation5. long with £33,4eQ provision In respect of an employee dispute that Wa5 Settled and released In the year. The new provision Is in respect of 3 Student dispute that was settled p05t-year end. CPEDITOPS." AMOUNTS FALLING OUE AFTEP ONÉ YEAri 2023 2022 15 Loan 23.323.549 23.698.549 Accrued Loan Interest 4.042.98S 3.510.253 Other Creéitois 135.249 146.138 27.501.783 27.354.940 The loan balance above relates to a fi.nance facility of up to £24.kn. made available by Southwark Council to the Charity to facilite the construciion of new PmISeS for the Charity In Peckham, South London. The facility agreement was signed on 14 September 2016. The Charity ha5 dfawn against this facility throughout the project construction phase. with interest at 2.25% payable from 1 October 2022 Increasing to 4.5% from October 2025 (under renegotiated interest terms). Under the current agreement, there is no fixed repayment schedule, but minimum annual repayment must be made and the outstanding balance must be below E12.5m by 30 September 2043. The facility is Yepèyable in full by 2058. It is secured by means of a legal charge over the new site and premises. together with a floating charge over the undertakin9s and assets of the Charity_
The facilily Is in two part5." Trènche A for £0.5m and Tranche B for up to E23.8m. Tranche A related to the development phase of the project. and was fully drawn down by Av9USt 2017. Tranche 8 relates to the construction phase of the project, and £23.7m of this tranche was drawn down at 31 August 2020. Tranche A was originally repayable at first drawdown of Tranche B in September 2017 bui has now been incorpoiated into Ttanche 8. The accrued loan interest relates to arnounts tequired to be expensed to the statement of finèncial aclivilies as a result of accounting standards since the start of the loan. bul that have not yet been due for payment. This will begin fo release from 2025126 when amounts payable will exceed the amounts required to be expensed. 10 MOVEMENT ON DEFERPEO INCOME CALCULATION Bolonce broug Amouni defe1d inye Amovnt releused inye Bolonrp corried lorword Deferred ncom¢ < 1 year Government 9iants- DaDA Fvnding Tuition fees 1.280.394 644.692 11.280.394) 644.692 5.657.346 6.3CYP.292 15.657.346> 6.YJ9.292 6.937,740 6.953.984 16.937.740) 6.9S3.984 Deferred income > 1 year Siudenr deposits Total deferyed incom• 146.138 1146.1381 7.083.878 6.953.984 17.083.878) 6,953.984 17 FINANCIAL INSTPUMENTS The finonciol stoiemenis include following fft ¥espe¢i ol iiemsheld oi loir volue ot 31 Augvsi. Financial assets rneasuied at amortised cost 2023 2022 6.551.954 7.302.392 Financial liabilities rneasuied ar amortised cost 28.730.679 28,411,315 SHARE CAPITAL The liability of members is limited by guafantee to an amount not exceeding £1 per mernber. As at 31 Au9USt 2023, the weie 13 members12022: 12 members). 19 COMMIIMENTS AND ENTITLEMENTS UNOER OPETr ATING LEASES Commitments Ar 31 Au9U5t 2023 the tharitable company had outstanding comrnitmenrs for hjiure minimum lease payments under n<aelIable operatin9 Teaseswhich fall due as fol.. L¢)d ond buildir4Js 2023 2022 Within one year Between two and live year5 In over five years 175.Q 175,000 7(Xl.(ts) 7.()0 15.&IM.726 I S.779,726 16.479.726 16.654.726 Lease payments of £175.¢XK) We recognised as expenditure during the year12022.. £175.WJI. The annval rent on the Charity's new wemises of E175.(XX) is subject to RPI increases every five years. The total off balance sheet future liabiity 15 Iherefore likely lo be significantly higher than stated above.
COMMITMENTS AND ENTITLEMENTS UNDER OPERATING LEASES Iconisrwedl
EntitltmÈnts
At 31 Augusr 3)23 the tharItab company had outstanding entitlerneThts forfuture
rninirnum lease recipt$ under non
The majority of restricted funds have been established io award prizes and scholarships and provide financial 5UPPOrt to students. The Gyearbour Asante Memoiial Prize. Diana Boddin9lon Prize Fund, Luke Morton Award, Arif Hussein Memoii31 Prize £nd Emily Oulton Memorial Prize are all fund5 established to celebrate Siudent success through an annual prize. The Jack Petchey Foundation provides grants to wn the Achievement Award scheme for Generalion Nexl participants. The 8ridge Project funds are vsed to deliver perfotming Orts prDjects In local schools. The Scholarships fund holds rnonie5 awarded to students toward iuition fees for degree and Foundation courses. The High Streets For All Fund supports a partnership project helpirsg to devel¢¥s and support the environrnent in and around Rye Lane. Peckham. The Hollybrook Fund is used to support a Community Partnership Manager post lor one year. The Spencer Wills Trust provides a grant to fund Current and futu purtha5e5 of musical instruments. The Generation Next fund supports the costs of runnin9 the Generatron Next pro9ramme. enabling us to offer bursarie5 to low-income participants. The André Ptaszynski Memorial Fund supports emerging and early-career producers. and the Judi Dench Fund. The Judi Dench Fund foi Access to Drama Training supports initiatives ihèt break down barriers to drarna training, including the National ScoLtting Network. free audilion5. scholarship5 and bursaries, student wellbeing and welfare programmes. and emergency grants. The Business Development Fund was donated to support Mountview in generating new businèss stTeam5. The Peter Coxhead Seholarship Fund represents funds endowed from The Peter Coxhead Foundation to be vsed to provide bursaries for students_ 11 is an expendable endowment lund as both the capital and the income of the fund can be used for this purpose_ The transfer of £30,OCKJ from the Hollybiook fund to the unrestricted fund was made to support the costs of employin9 a community producer post. Transfers of £39,980 from the Generation Next Fund to the Untried funds to provide bursaries for young people to attend cla55es and support the costs of running the prograrnme. A tiansfer of £30,¢XN) was made from the Aftdré Ptaszynski Memorial Fund to unrestricted funds to" contribute to the recruitment and salary cost5 of the Ptaszynski Producer post. Transfeis from the Judi Oenth Fund include £12,3YJ to the unrestricted fund to corstribule to the eosts of student welfare offset by £2.CW iranslerred Irom the scholarships fund towards studeni lees. 41
22 ALLOCAMQN OF NET ASSETS TO FUNDS Pesiricted Funds Endowrnent Funds DesMJnDted Fund5 uNestricted Funds Toiol 2023 Fixed assets 28.219.339 226.083 28.445.422 Current assets 284.078 1162.3431 7.597.136 7.718.871 165Q.4621 17.638.814) 18.329.276) Non-CUrt liabilities 127.366.5341 1135.2491 127.XJI.7831 284,078 49,156 333.234 2022 Tangible fixed assets Curient assets 28.9X).L185 201.194 29.131.279 189.410 7.114 1122.718) 7.496.9 7.570.7C6 It*1.5161 (7.338.781) 18.277,1X Non-curreni liabilities I27..802) 937.049 1146.1381 127,354.940) 163.5281 1.070.045 189.410 7.114 Free reserves at the balance sheet date were neg3t1ve 1176.92712022.. EI 2.6511. 23 THEATfiE TAX fiELIEF CLAIM In the year there have been XJ pr<KAKtions rJ)22.. Xl rhai are subject to a daim fc Iheatre tax relief. 2023 2022 Tax credit 581,377 183.486 IP4VESTMEP4TS Mouniview Aris CeThtre Limited Mountview Arts Cenire Limiied I'MAC'I is a company limited by guarantee. incorporated In England and Wale5, Wlth 2 directors who are its members and all of whom are also Trustees of the Charity Mountview Academy of Theatre Arts Limited I'MATA'I. MAC is therefore effectively controlled by MATA and as such is treated as a wholly owned subsidiafy ol MATA. MAC has not traded since incorporation but Used to hold one lease in trust for MATA. MAC has net a55ets ol nil and is therefore not consolidated with MATA. 14ount¥i•w Productions Lirnitèd Mountview Productions Lirnited I'MP'I Is an incorporated company, registered in England 2nd Wales with issued share capital of £1. wholly owned by Mountview Academy ol Theatre Art5 Limited I'MATA'I MP has not traded since Incorporation and has net assets of nil and is Eherefore n01 consolidated with MATA. RELATED PAPTIES During the year the chèrity received £14,IN In donations Iincluding gift aid) from ten trustees 12Q22. £17.930 from stx trustees and one Immediate family merrtberl towèrds the Generaiion Next. Scholarships, Seat Carnpaign, the Judi Dench Fund and to unre5tricled donations. The charity 3150 received a gift in kind of stOfa9e space of £1,611 and £5,315 in respeci of venue hire & staffing for our graduation ceremony fiom Peckhamplex of which one trustee Is a board member12022.. £1.6111. £1,392 was also paid to Peckhamplex for cleaning costs following the Mountview graduation ceremony. The charity ha5 a loan secvred with thè London Borough of Southwark, for which Board members Johnson Situ and Portia Mwangangye werelaie Councillors and Timothy Jones is a Council Qfh"cer. Johnson Situ was not a trustee when the loan was agreed and Portia Mwangangye and Tirnothy Jones joined the Board after the loan wa5 established. Two trustees are directors ol Stagecoach Perlorming Arts Ltd to whom we paid £360 to attend their national annual conference and we received £226 from them for the hire of lacilities during the year.
The Charity paid £36.COJ12022.. £36,(> to Premier Publrc Relations Ltd. of %vhich John Reiss is Executive Chairman.. services are provided at significantly reduced rate. COMPARATIVE STATEMENT OF FIIIANCIAL ACTIVITIES esiwied FUNIS IIESLIted FNd$ Endowlneat 2022 TfjEoI Funds Funds Income Irom Generatlng lunds.. Donation5 and legacie5 Income fiom Investrnents 186.969 283.745 470,714 13.112 ChAritable activities.. Ethtcaiion Income 6.732.0lS 6.732.015 Other income 658.568 658.568 Total income 7.590.604 283.745 7.874.409 Expenditurt on Raising fvnd5.' Fundraisin9 Costs Charirable acriviries-. Education costs 112.597 112,597 7.865.284 1,319.70S 223,734 96,775 9,X15,498 Total expenditure 7,977.881 1.139.705 223.734 96.775 9,618.096 N*t incom¢ I l•xp¢nditur•l Transler between funds 1387.2171 11.139.705) t4).011 1%.7751 11.743,6861 21 45.259 12.YJ) 157.759) Oth•r recogni5ed gains: Tax Crodit 23 183.486 183.486 Net mts¥•ment in fund5 1158.4721 11.J)7.XJS1 2.252 196.7751 Ii.W.2cj Fund balances brought forward 94.944 2.244.2S4 187,158 103.889 2,630.245
27 Fund balances c¥rrtred fon#ard 63,5281 937.049 189,410 7.114 1.070.045 COMPARATIVE PESTQICTED FUNDS Bolonce 8rwJh¢ Fon¥ord Bolgnce CNri•J Forword Income Exwmlilwe Transfers Gyearbuor AsanTe Mernorial Prize Diana 8oddingron Prize Fund High Street5 lor All Fvnd Luke Morton Award 2.918 (2.CO)I 918 4.692 119.1XK)I ii.(mi I).cKr)I Arif Hussein Mernorial Prize 11,(KK)I Jack Petchey Foundation Mountview EmÈr9en¢y Support Fund 2.SS) 12,2WI 11.3401 7.12 Restricted Iotherl Fund 2.287 11.2261 12241 1.337 G¢ner3tion Next 45,2P 116.3881 28.898 Cultural Education Partnership Andié Ptaszynski Memtsrial Fund Jydi Dench Fund 29.975 16.514 145.1571 11,331 I26.0) 111.858 23.918 12.9561 IC6.740 I34.> 16.0281 Hollyb¢ook Fund MountViev4 at Peckharn 30.000 12.SCQ 112.9J)I 187.159 283.745 1223.7341 157.7601 189,410 ENDOWMENT FUNDS The Peter Coxhead scholarship 103.889 rkn.7751 7.114 103.889 190.7751 7.114 PIK)TOCAEOIT&" SoFie Giddens.. p15. Cesare Oe Gilgio. pp3. 7 & 9. Nina Rolynson". ky3) & 21 Ste¥e Glass.. ppl. 6. 8. 10. 13. 14. 17 & 16. Steve fjregson.. Cover. pp2. 5 & )6. RULER". p19 & back cover. Rolyn Savage". ppl2.
1i.uTr. r,, CADEMY JF TWE4TR& Charity Numb- 274166 Cttmpèny NMbEr 01019858