ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) REPORT AND FINANCIAL STATEMENTS 31ST MARCH 2024 REGISTERED NUMBER: 01472949 CHARITY NUMBER: 279458 Frank Lachman Chartered Accountant 31 Fairview Way Edgware Middlesex HA8 8JE
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) FINANCIAL STATEMENTS for the year ended 31st March 2024 Pages CONTENTS Legal & Administrative Information Report of the Committee of Management 2-15 Independent examiner's report to the members 16 Statement of financial activities 17 Balance sheet 18 Notes to the financial statements 19-23
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) LEGAL AND ADMINISTRATIVE INFORMATION 31ST MARCH 2024 Company Registered Number 01472949 Registered Charity Number 279485 Registered Office 3.04 Carlton Mansions Coldharbour Lane London SW9 8QD Examiner Frank Lachman Chartered Accountant 31 Fairview Way Edgware Middlesex HA8 8JE Directors and Trustees Sudha Bhuchar Geraldine Brodie Maria Delgado David Alan Evans Sarah Grochala Sanpreet Janjua Vincent Keaveny Margherita Laera Nick Tyler Resignations in year Steven Kavuma Allegra Nespoli Resigned 22nd February 2024 Resigned 25th February 2024 Bankers Barclays Bank plc Soho Square 9 Leicester Leicestershire LE87 2BB Shawbrook Bank Limited Lutea House Warley Hill Business Park The Drive Great Warley Brentwood Essex CM13 3BE Page 1
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES, REPORT for the year ended 31st March 2024 ADMINISTRATIVE INFORMATION Actors Tourin Com an Company no. 01472949 Registered Charity 279458 Incorporated 15.01.1980 Company Limited by Guarantee. Guarantees of individual members limited to £1. London Limited Directors and trustees The directors of the charitable company (Actors Touring Company (London) Limited) are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees. The trustees are non-executive and unpaid. As set out in the Articles of Association the trustees can be appointed at any time throughout the year and stand for re-election at the AGM. Rotation of directors is by one third of the longest serving directors retiring at the AGM with no disbar to reappointment. The Board provides guidance on, and formally approves, appropriate policies for the company. An induction process for new trustees and ongoing training for trustees supports our aim to embody best practice in governance. Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated directly into the regular trustees, meetings. The trustees during the year and since the year end, were: Sudha Bhuchar Geraldine Brodie (Chair) Maria Delgado David Alan Evans (Vice Chair and Chair of Finance Committee) Sarah Grochala (Chair of Artistic Evaluation Group) Sanpreet Janjua (Chair of Development Committee) Steven Kavuma Vincent Keaveny Margherita Laera Allegra Nespoli Nick Tyler Resigned 22nd February 2024 Resigned 25th February 2024 Company secretary Andrew Smaje Juliana Bearse Resigned 25th April 2024 Appointed 26th April 2024 Artistic director Matthew Xia Executive director Andrew Smaje Jo Royce Resigned 25th April 2024 Appointed 19th August 2024 Interim Executive Director Amber Massie-Blomfield From 18th April 2024 - 4th September 2024 Independent Examiners Frank S Lachman & Co, 31 Fairview Way, Edgware, Middlesex HA8 8JE Bankers Barclays Bank plc, Soho Square Business Centre, 27 Soho Square, London W1A 4WA (all transactions) Shawbrook Bank Ltd, Lutea House, Warley Hill Business Park, Great Warley, Essex CM13 3BE (savings, limited access) Registered office and operation address 3.04 Carlton Mansions, 387 Coldharbour Lane, London SW9 8QD Name "Actors Touring Company and "ATC" are the trading names used by Actors Touring Company (London) Limited. Page 2
(A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES. REPORT (continued) for the year ended 31st March 2024 ACTORS TOURING COMPANY (LONDON) LIMITED CHAIR'S STATEMENT (includes." Overview, 23-24 Outline, Financial Performance, Organisation, Board of Trustees, Thanks) Overview 2023-24 was an exceptional year for ATC, with an extraordinary range and volume of activity and audience reach, high critical acclaim, multiple award nominations and industry accolades. The year also saw ATC commission and produce sector-leading audience evaluation and research, as well as supporting the professional development of two emerging Black theatre-makers (Amelia Thornber and Danielle Kassarate). These initiatives were due to increases in fundraising activity and success. Our body of work across the year was presented as the Transformation Season: Artistic Director Matthew Xia says ' Too often as a touring company, we appear to be a sum of parts.. a show made in one place, another show pops up elsewhere. The truth is, that we are creating a body of work arising from a single artistic idea.. transforming painful histories into a more hopeful future." All three ATC productions in the Transformation Season championed Black writers and creatives, adding a new wave of exceptional plays to the Black theatrical canon. Sometimes the work of touring companies can feel hidden under the profile of the brilliant venues we visit and make our productions with. In 2023, ATC shifted that balance by creating a new profile for our body of work, which was produced and seen in towns and cities across the nation, from Plymouth to Glasgow, via Keswick and Ipswich, all created from ATC'S base in Brixton, London. We fulfilled our objective of improving the visibility and clarity of our artistic programme - the Transformation Season was widely featured and reviewed in national, regional and community-focused, especially Black-led, media. Tambo & Bones was discussed in the news- rather than the arts - pages, and debated on Good Morning Britain, Talk TV, GB News, The Spectator and others. The making of the production was the subject of a dedicated documentary on global arts strand In the Studio on BBC Sounds and the BBC World Service. Meanwhile, The Architect was the subject of a substantial feature on Channel 4 News and gained 5-star reviews across the board. Acclaim and accolades came in the form of: ATC'S leadership team Matthew Xia and Andrew Smaje named in The Stage 100 Most Influential People in Theatre (2024), for the second time in recent years ATC nominated for Producer of the Year at The Stage Awards 2024 Tambo & Bones named no 5 in Time Out's Top 10 Theatre of 2023 Tambo & Bones won Best Design at UK Theatre Awards 2023 The Architect named no 4 in The Guardian's Top 10 Theatre of 2023 The Architect nominated for Innovation Award at The Stage Awards 2024 The season as a whole nominated for three Offies (2023) and six Black British Theatre Awards (2023) in Direction, Design, Choreography The season succeeded in demonstrating demand for ATC'S work from audiences, producing partners and venues nationwide. Wider distribution of our work, targeting places and communities outside metropolitan centres, increasing and improving the strength of our impact, are key to our response to Let's Create, Arts Council England (ACE)'s national strategy for the arts. In all, we produced 20 weeks of performances during the Transformation Season - 16 of those weeks in this financial year. Strategic objectives agreed with ACE are to produce a maximum of 10 weeks, public activity per year. We have therefore built in periods of project and organisational development during the course of the year, to ensure we sustainably manage our output. Page 3
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 For ATC to produce three new titles about challenging and provocative subjects, in a year when many in the arts reduced their levels of activity and preferred to rely on known products and mainstream authors, shows that being bold - taking artistic risks that are managed, promoted and supported by a skilled team and a passionate Board - can reap significant rewards, our theatre~making workforce and those who experience our work. 23-24 Outline During the financial year, ATC Produced a season of new work: Family Tree - our longest ever tour, visiting 12 venues nationwide Tambo & Bones originating production at Stratford East- prior to national tour in 2025. international dates under discussion The Architect - an immersive, outdoor production taking place on a London double decker bus, marking the 30th anniversary of Stephen Lawrence's death Developed a portfolio of new partnerships in 2023-24: New co-producers: Belgrade Theatre Coventry, Brixton House, Theatre Royal Stratford East, Royal & Derngate Northampton, Liverpool Everyman & Playhouse New tour venue partners: Theatre by the Lake, Nottingham Playhouse, Tron Glasgow and New Wolsey Ipswich Built on established relationships with long-term partners: Co-producers: Greenwich + Docklands International Festival Venue partners: Tobacco Factory Bristol, Theatre Royal Plymouth, Sheffield Crucible, North Wall Oxford, Traverse Theatre Edinburgh and Northern Stage Newcastle Developed relationships with sector and social justice partners such as: Independent Theatre Council (ITC), Anti-Racism Touring Rider, Backstage Niche, #OpenHire, Parents in Performing Arts (PIPA) campaign, Stephen Lawrence Day Foundation Supported early career development: Associate Director on Family Tree, supported by the Garrick Trust and Abcam Life Sciences, for an emerging director experiencing socio-economic barriers to career progression Creative Producer on The Architect, supported by D'oyly Carte Charitable Trust, for an emerging Black producer in outdoor / immersive arts Internship from Central School of Speech and Drama, Creative Producers course Rehearsal observers, including support from National Theatre Scotland and Belgrade Theatre, Coventry Professional mentoring for producers, playwrights and directors - focusing on those experiencing socio- economic or access barriers to career progression Artistic Director Matthew Xia met and mentored eight young creatives, mostly those from Black and Global Majority Backgrounds Training: The core team and board undertook anti-racism training, facilitated by leading Black British theatre company Talawa (four sessions over three months) ATC also offered anti-racism training to our freelance colleagues, including producers and stage managers, via ITC and Talawa, supporting their ongoing professional development Tonic Theatre delivered training in equity and diversity to the core team Members of the core team undertook ITC training in key aspects of the Producing, General Management and Administraton remits The core team undertook Julie's Bicycle training over 11 weeks, with a focus on environmentally sustainable approaches to touring and international producing The core team undertook safeguarding training, which freelancers were invited to participate in as appropriate Internally, ATC'S Finance Manager offered finance training for the wider team, equipping them to better understand the organisation's budgets and accounts Page 4
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 We have, like so many in our sector, faced challenges in carrying out our mission, due to: Rising production and operational costs, due to the cost-of-living crisis The talent and skills drain from our sector that occurred during the covid pandemic, and remains a critical concern Many of our touring partners have experienced a high turnover of staff in key departments (programming, marketing, stage management & technical) sometimes leading to poor support for visiting companies, and impacting ticket sales Lower levels of co-production investment- previously two partners might share 50150 - now a minimum three partners are required to make a financially viable project Smaller audiences in regional theatres, on average down from 60-65 % occupancy pre-pandemic to 40 % occupancy following theatres re-opening in early 2022 and down again to average 30 % following the cost-of-living crisis Due to these smaller audience numbers, we have faced lower risk profiles in programming, with tour partners often offering fewer performances per visit (2-3 rather than the usual 5-6), smaller financial guarantees, or none at all, leading to touring companies like ATC needing to address greater financial risk in touring How we met those challenges: We employed and nurtured entry-level freelance workers in stage management, production and direction; offering relevant training and mentoring to support development of new skilled workforce We negotiated successfully for box office guarantees, fees, writer royalties, and took a cautious approach to financial risk We deepened our relationship with established tour venue and co-producing partners, building their knowledge of our work and willingness to invest in new productions We developed new production partnerships to ensure ATC has a portfolio of potential co-producers including with Belgrade Theatre Coventry, Liverpool Everyman and Theatre by the Lake Our Associate Producer undertook a programme of audience development activity, successfully engaging communities, inviting relevant groups to attend and spreading word-of-mouth through relevant networks, in order to bring representative and diverse audiences to ATC'S work. As a result of this work, ATC'S average audience was 57 % occupancy, compared to a nationwide average of 35 % for new plays Against a background of sector-wide challenges that were exceptional in number, range and form, it is testament to the dedication of the core ATC team, to the quality of work the company produces, to the respect in which it is held in the industry, and the faith of our partners and supporters, that ATC created and developed projects during this year that have made a profound impression on such a diverse range of audiences. The year also represented the first in the current 2023-26 National Portfolio Organisation round, supported by Arts Council England, through which the company receives core funding. During the year, Arts Council England announced that the current NPO period will be extended to April 2027, with current NPOS invited to participate in a non-competitive application process to secure this funding for the additional year. During the year, ATC joined colleagues and peer organisations in lobbying for Theatre Tax Relief (TTR) to remain at the 2021 levels of 45-50 % rather than the previous level of 20-25 % , in order to support investment in productions during the period of recovery post-covid. We are grateful that TTR will continue to mitigate the challenges of rising costs, risk-averse programming, and smaller audience numbers across regional theatre. Financial Performance ATC'S turnover was £482,173, compared to £412,115 in 2022-23. We ended 2023-24 with a deficit of £56,539 compared to the previous year's surplus of £53,773 Page 5
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 The deficit is the result of a contribution made by the trustees from the company's reserves to meet the financial demands of the significant ambition of the year's artistic programme. As the programme fell across 22123 and 23124, the trustees considered the financial position for the company across the period holistically. In addition, the company received late bills for two rental payments relating to 22123. due to ongoing negotiations between the company and its landlord over the start date of these payments, these were not anticipated in the previous financial year. Given the level of reserves held by the company, and in the context of a 22123 surplus in excess of the 23124 deficit, the board considers the deficit sustainable for the company. Organisation After eight years in the post, Executive Director and Joint CEO Andrew Smaje left his post in April 2024, moving on to be Head of Producing and Programming at Leeds Playhouse. Experienced theatre executive Amber Massie-Blomfield has been our Interim Executive Director from April-september 2024, and we're delighted to have appointed Jo Royce as our new Executive Director and Joint CEO, taking up the post in August 2024. Her recent experience includes as Interim Executive Director for London International Festival of Theatre, Senior Relationship Manager at Arts Council England and Executive Director of Candoco Dance Company. In March 2024, Adminstration Director Juliana Bearse became General Manager. Alongside our core team, during the year we have worked with a number of freelance consultants including: Diana Whitehead, publicist Saskia Coburn, fundraiser Jennifer Dyer, fundraiser Ann-marie Merrick, fundraiser Audience engagement and evaluation specialists Pudding Board of Trustees The Touring Theatre Chairs Network I created as Chair of ATC in 2020 has been active during this period, particularly in lobbying for the continuance of Theatre Tax Relief at sustainable levels, and consulting with Arts Council England around the potential for increased support for touring organisations. We appoint Board Champions for all our key policy areas, from Digital to Safeguarding. We have also responded to the Arts Council's call for a Green Champion to join a long-term consultancy with ACE and its environmental partners, with Professor Nick Tyler, Professor of Civil Engineering at University College London, representing ATC in this role. During the year, trustees Steven Kavuma and Allegra Nespoli both resigned from the board, because of competing demands from other professional commitments. Nine trustees remain on the board, and ATC intends to undertake a new round of board recruitment in the 24125 financial year. Thanks I'd once again like to thank the leadership team and joint CEOS, Artistic Director Matthew Xia and Executive Director Andrew Smaje, together with the core team of General Manager Juliana Bearse, Associate Producer Melina Barnett and Finance Consultant Kate Sarley" the many freelance theatre workers - upwards of 80 every year- with whom we create our projects. the partners in our sector whose investment and belief is essential to our production model. our funders and donors, principally Arts Council England, for their continued support. the trustees who voluntarily give their time, expertise and insight to the company. and our audiences and participants, who tell us what a difference our work makes to their lives, to their sense of self, and in articulating their feelings and experiences. Together, we make the life-affirming, thought-provoking and joyous work that is at the heart of Actors Touring Company. Geraldine Brodie Chair, Actors Touring Company 01 September 2024 Page 6
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 TRUSTEES, REPORT The Trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2024, which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The reference and administrative details set out on pages 1 and 2 form part of this report. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association, and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). OBJECTIVES AND VALUES (includes.. Principal Activity and Charitable Objective, Mission Statement) Principal Activity and Charitable Objective The company's principal activities and charitable objectives are to promote, maintain, improve and advance education, particularly by the production of educational plays and the encouragement of the Arts. Mission Statement Actors Touring Company is a portable portal to the world. Through our work, we connect global artistic voices to local communities. ATC has an unrivalled track record in commissioning, producing and touring contemporary international plays that amplify and celebrate global artists from both within and beyond the UK. Our work explores ideas of intersectionality, identity and belonging - opening up conversations across borders both geographic and cultural. We tour to venues of all scales and sizes, and to places the length and breadth of the UK. We engage with communities whose experiences are under-represented on our stages, and we invite traditional theatre audiences to share the journey. Since 1980, we have premiered over 200 new plays and translations from (for example) Australia, Norway, Iran, Israel, and the US - bringing global stories to audiences across the UK, from Glasgow to Plymouth and internationally, from Helsinki to Hong Kong. We are recognised as a leading commissioner of plays by writers from the global cultures within the UK. ATC is currently developing projects with playwrights Nessah Muthy, Dave Harris, Abi Zakarian, Anoek Nuyens, novelist Thomas Rueb, poet Warsan Shire, and working with partners Greenwich + Docklands International Festival, Royal & Derngate Northampton, Liverpool Everyman & Playhouse, Belgrade Theatre, Coventry, Leeds Playhouse, and Theater Oostpool, Netherlands. STRUCTURE GOVERNANCE AND MANAGEMENT (includes.. Leadership, Governance, Team Structure, Best Practice in Employment, Business Model, Risk Management, Public Benefit, Diversity Equality Equity and Representation, Enviromental) Leadership ATC was led in 2023-24 by a joint executive of Artistic Director Matthew Xia and Executive Director Andrew Smaje. More on Matthew, Andrew and the current staff team can be found here: www.atctheatre.com/about. The Joint CEOS maintained a strong presence in the wider arts sector: Matthew Xia is a founder member of Act for Change, a trustee of Cardboard Citizens and was awarded an honorary doctorate for his work in promoting diversity in the arts by University of Arts London (UAL) in 2019. His work in the wider sector includes directing Hey Duggee Live (Olivier Award 2022, Best Family Show) The Wiz (December 2021, Nominated Best Director, Black British Theatre Awards) and Feeling Afraid . (Roundabout, August 2022, winner Fringe First, Spirit of the Fringe Award). Matthew is a regular panellist, advisor and judge on initiatives to improve equity and representation in the arts. In 2022, Matthew was a member of the UK judging panel for The Eurovision Song Contest. Page 7
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 Andrew Smaje is Vice Chair of Curious Monkey, a theatre of sanctuary for refugees and young people leaving the care system, based in Newcastle. From 2019-2022 Andrew was trustee of Kakilang, the leading festival of East and South East Asian arts in the UK. He is a consultant to arts organisations (most recently to those joining ACE'S National Portfolio) and individual mentor, as well as regularly contributing to sector panels, conferences and representing the touring sector in negotiations with industry bodies such as Equity. Governance Actors Touring Company is a charity and a company limited by guarantee. It has a committed Board of Trustees which monitors the company's activities, oversees its financial viability, sets policy and fulfils the fiduciary and legal requirements of charities and limited companies. Trustees approve annual budgets, policies and plans and review key monitoring data. The Board also discusses artistic programme, with a sub-group dedicated to reviewing our evaluation frameworks. The Board reviews and contributes to ATC'S Risk Register quarterly, as are targets in (for example) Artistic Activity, Fundraising, Environmental Responsibility, and DEER (Diversity, Equality, Equity and Representation). All Board reports and monitoring of progress against targets have been done through the lens of Arts Council England (ACE) Let's Create Investment Principles since the implementation of ACE'S new 10-year strategy in 2021. ATC'S Board meets quarterly, as do 3 subcommittees: Finance Committee (est. 2015) In-depth scrutiny of annual accounts, company budgets and management accounts. Meetings take place 4 weeks prior to full Board, to whom the FC reports. Members give additional 1-2-1 support to the team on Risk, Accountancy Practice, VAT and other relevant financial matters. Development Committee (est. 2020) In-depth scrutiny of fundraising activity, campaigns and applications. Analysis of fundraising data. Review of strategy and evaluation of strategic targets. Review of systems including fundraising sofbNare and data capture. Supports creation and review of Fundraising Policy. Artistic Evaluation Group (est. 2022) In-depth scrutiny of artistic projects. Analysis of audience survey data. Analysis of data provided by partner (tour) venues. Review of achievement against strategic targets. Supports annual review of artistic programme. Each of the sub-committees operates within agreed terms of reference. The TOR are reviewed annually. The Chair and Executives meet fortnightly, discussing: Key developments in Artistic activity. Arts, theatre and touring Sector. Stakeholder relationships and reporting, for example with ACE. Statutory requirements, for example those relating to charity status. HR & Recruitment. Board-staff communications and relations. We have an active Conflict of Interest Policy. COI is a standing item for update and review at Board meetings. Skills Audits and Equality and Diversity Monitoring data is updated annually, to inform Board recruitment needs. Page 8
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 Our current trustees have experience in arts leadership, community engagement, the environment, fundraising, finance, governance, law, playwriting, teaching, theatre producing and touring, translation, research and inclusive practices. Board members are appointed for a three-year term, with the longest-standing retiring at AGM and eligible for re-election. The Board reviews its membership periodically, seeking to identify underrepresented groups and skills and address those in trustee recruitment. In the main, Board members are recruited externally. In-depth interviews with Chair and Executive management make clear the roles and responsibilities of trustees and seek to understand the qualities that potential trustees would bring to the organisation. A detailed Induction Pack is provided prior to appointment of new trustees, making clear the legal obligations as well as the Board's expectations of a trustee. This includes embedding the values of the organisation, and registering conflicts of interest. New trustees are allocated a board 'buddy', annual trustee appraisals are carried out and trustee training is reviewed and discussed at board meetings. Team Structure Our permanent diverse team in 2023-24 comprised Full-time: Artistic Director, Executive Director (Joint CEOS), Admin Director Part-time: Associate Producer Retained Freelancers: Finance Consultant, Publicist, IT Support, Fundraising Consultants We also run an Associate Director programme (subject to funding) and offer frequent shadowing, mentoring and paid training opportunities to early career practitioners, students, particularly those from communities currently under-represented in theatre. Overall, we increased expenditure on consultancies that had direct impact on our accountability and progression: in finance, IT and PR, the latter specifically aiming to develop our profile among diverse communities. More about the team and the ATC Board is at www.atctheatre.com/about The Joint CEOS report to the Chair. The Executive Director line-manages the staff team, with weekly team meetings, monthly supervisions and annual appraisals. Appraisals centre around company values alongside skills and professional development. Training is pro-actively identified and provided for all staff and trustees. Examples of values-based company policies and strategies (reviewed annually): Digital, Dignity in the Workplace, Environmental Policy & Action Plan, Equity, Equality, Representation & Diversity Policy & Action Plan, Flexible Working, Fundraising Strategy including Ethical Fundraising Policy, Health & Safety and Safeguarding. ATC employs a large freelance workforce, reflecting the fact that 80 % of all theatre workers are employed on short-term contracts. Production and stage managers, actors, designers, and playwrights are all employed by ATC according to the needs of each individual project. Typically, we employ 70+ freelance theatre workers each year. On each project, our team grows from 3-4 full-time staff to a project team of 20-25. Best Practice in Employment ATC is fully committed to the principles of PIPA (Parents in the Performing Arts) htt s:// acam n.or and is a PIPA Charter Partner. Allied to this, we have discrete policies to support Flexible Working and Working from Home. ATC is a long-standing member of the Independent Theatre Council (ITC). The company is an ITC Ethical Manager which means that we are committed to paying at least the ITC/Equity minimum salary rates to actors and stage management, as well as using pre-negotiated ITC contracts. We are also committed to paying above Living Wage to hourly paid staff. We are also signatories and contributors to best practice initiatives such as: Stagesight, Trans Casting Statement, Anti- racism touring rider, Open Hire, Back Stage Niche, Theatre Green Book and the Cultural Governance Alliance. Page 9
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 Business Model Actors Touring Company operates with a mixed revenue model, with income generated from a variety of sources: Arts Council England (ACE) funding, co-production partnerships, financial deals with venues and festivals (including fees, guarantees and share of box office), philanthropic support and grants from charitable trusts and foundations. Arts Council England is the principal funder. ATC is a National Portfolio Organisation (NPO), which means that we have regular annual funding, which can be renewed by a new application to the Portfolio that takes place typically every 3 years. ATC has been successfully sustained by support from ACE throughout its history and in late 2022 we secured continued NPO funding at standstill level until at least March 31, 2026. Collaboration and co-production are key to ATC'S business model. We share financial and artistic risk with partner venues; in most cases ATC acts as artistic lead, from project initiation, through dramaturgy to final production. We tour nationally, producing two or more distinct projects each year. The reach of our work is across England (as per our Arts Council England funding agreement) and also in Wales, Scotland, Northern Ireland and outside the UK. Risk Management The Trustees and management review risk on a regular basis. We maintain and review a detailed Risk Register, allowing us to monitor and record risk. The Board and staff work together in reviewing the Risk Register. Further in-depth financial analysis is undertaken by the Finance sub-committee in advance of each Board meeting, with the sub-committee presenting its findings to the full Board. The net costs of individual projects are approved in the annual budget-setting process, clearly identifying any financial risk to the company on all artistic activities. For major projects and productions, a greenlighting process is in place, to ensure the board is able to review the feasibility and risk level of projects before the company commits to full production. The Trustees are satisfied that the company has strategies and policies that effectively mitigate against risk. Public Benefit In shaping our objectives for the year and planning our activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. The company's wide-reaching touring programme allows for the distribution of dramas that audiences would not otherwise have the opportunity to experience, particularly premieres of international or new plays. We engage national audiences with plays that originate from nations outside the UK, or which reflect the intersectionality of our own nation, and seek to engage more deeply through workshops and post-show discussions. Diversity, Equity, Equality & Representation. Our approach ATC wholeheartedly embraces the intersectional nation and world in which we operate. Global and intersectional perspectives are in the very DNA of our mission, our values and our work. We connect with a range of communities locally, nationally and internationally and we seek to actively reflect this diversity in our artistic activities, our employment practices and our governance. Equality of opportunity and representation and positive action are integral to the work we do. We recognise our legal responsibilities in relation to race (including nationality), age, sex, sexual orientation, gender reassignment, disability, marital and civil partnership status and religion and belief, as defined by the Equalities Act 2010. We will continue to fulfil, and aim to exceed, these obligations under the law. ATC is committed to challenging the status quo in the arts, to ensure the change is focussed on positive action, including the actions we take ourselves. Page 10
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 ATC'S DEER (Diversity, Equality, Equity and Representation) Action Plan has been updated to reflect consultations with Weston Jerwood Creative Bursary particularly around best practice in inclusivity, socio-economic diversity and how to turn written policies into positive actions. ATC was a key contributor to the Weston Jerwood Toolkit launched in March 2023. The DEER Policy can be read in the Company Policies section of our website: htt ://www.atctheatre.com/abouU Environmental We recognise that the nature of touring is such that there can be unavoidable environmental impacts. We seek to minimise our environmental impact in our office use, business travel, and productions. We aim to minimise wastefulness in our productions and encourage recycling of all materials - from scripts to design - throughout a project's lifetime. We use Julie's Bic cle online IG Tools to measure our carbon impact, creating an annual report We use the Theatre Green Book as a guide for identifying relevant methodologies, partners, resources and up-to- date best practice, particularly around Sustainable Productions Green Riders are integral to all our contracts, for core staff and freelancers. This sees positive impacts in minimising our carbon footprint and emphasising re-usability. Our Environmental Policy & Action Plan has been recently updated. It is a detailed and active document that informs our approach at all times. The Policy can be read on our website: htt ://www.atctheatre.com/abouU MAIN ACHIEVEMENTS AND FUTURE PLANS Main Achievements - Artistic Productions TRANSFORMATION SEASON For the first time, the company brought together three major productions under the umbrella of the 'Transformation Season, _ a season of new plays asking 'can we transform the painful legacies of history into a future of hope and possibility?, The season achieved: 15,163 audience members in the UK 1,600 participants in the UK and internationally 14 tour locations, including Coventry, Glasgow, Brixton, Edinburgh, Oxford, Sheffield, Nottingham, Liverpool, Bristol, Plymouth, Ipswich, Keswick and Newham in London 95 performances 19 weeks of performances 78 % of tour locations were outside London 30 % of performances were in ACE-designated Priority Places (Newham) 180 freelance theatre workers were employed 60 volunteers took part Four co-producers helped make the shows: Belgrade Theatre, Coventry. Brixton House" Stratford East; Greenwich + Docklands International Festival Five new partnerships gave their support: Stephen Lawrence Day Foundation. life sciences company Abcam" and funders Paul Hamlyn Foundation, Garrick Trust and D'oyly Carte Charitable Trust A nomination at The Stage Awards for 'Producer of the Year, (alongside the individual show nominations outlined below) FAMILY TREE FAMIL Y TREE was the UK Premiere tour of ATC'S commission (with the Young Vic) of a new play by Mojisola Adebayo. Page11
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 Previously seen as a work~in-progress production staged under Covid restrictions as an outdoor promenade in 2021 (winning the Alfred Fagon Award for Best New Play, the most prestigious award for Black British playwriting), in 2023 we created a new production for a full nationwide tour. "Outspoken and magical . informs us with its history and moves us with its personal stories" (British Theatre Guide) FAMILY TREE is a beautiful, poetic drama about race, health, the environment and the incredible legacy of one of the most influential Black women of modern times: Henrietta Lacks. We were grateful for the support and encouragement of the Henrietta Lacks Foundation, who campaigned tirelessly and - as announced in 2023 - successfully for Lacks's name to be recognised and her family recompensed for the use of her cells in research that has benefitted medical science for the last 70 years, eradicating polio and producing treatments for cancer, HIV and Covid. Officially the longest continuous tour ATC has ever undertaken, FAMILY TREE entered production in February 2023 and continued through to mid-June: 12 towns and cities Coventry, Edinburgh, Brixton, Glasgow, Liverpool, Keswick, Plymouth, Sheffield, Oxford, Nottingham, Ipswich and Bristol 14 weeks on the road Extended runs in Coventry and Brixton New producing partnerships With Belgrade Theatre Coventry and Brixton House (ATC'S new office home since 2022) Rehearsed in Brixton and Coventry New touring partnerships First ever visits to Theatre by the Lake Keswick, New Wolsey Ipswich First visits in over a decade to Nottingham Playhouse, Tron Glasgow and Everyman Liverpool The tour as a whole drew excellent audience numbers in the majority of venues. Peer touring organisations reported average theatre occupancy of 35 % during this period; FAMIL Y TREE achieved 52 % average occupancy across the tour, including sell-out shows in Liverpool, Bristol and in Brixton, where it played to full houses across 2 weeks. With a total of 64 performances, the FAMIL Y TREE tour was seen by 6917 people overall. NB During this period of 2023, theatres operated full seating, but in a clear sign of the cautious return to full operation, the majority of venue partners reduced the number of performances programmed by 50 %, when compared with pre-pandemic figures. Venue caution is understandable: in 2023 the average attendance for new drama productions outside London is 30- 35 %, compared to 60-65 % pre-pandemic. 8 performances were captioned, audio described or BSL interpreted. Cast: 5 4 Black women, 1 white man. Creative Team: 14 Black creatives formed 80 % of the team, including all leadership roles in the creative departments. Family Tree's Associate Director and the enrichment programme of discussions, workshops and additional events was supported by generous donations from Garrick Trust and Abcam. 1400 participants took part in workshops and panel discussions, including a special panel led by historian and broadcaster David Olusoga. The play received numerous award nods: Page 12
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES. REPORT (continued) for the year ended 31st March 2024 The Alfred Fagon Award for Black British Playwrights was awarded to Mojisola Adebayo for Family Tree. Black British Theatre Awards - Nominations: Aminita Francis for Best Leading Performance by a Female Actor Simisola Majekodunmi for Body of Work in 2023 (Lighting Designer) Offies- Nominations Aminita Francis for Lead Performance in a Play Simon Kenny for Best Set Design TAMBO & BONES TAMBO & BONES was the UK Premiere of Dave Harris's new play from USA that interrogated the intersection of race, performance and capitalism, containing a satire on minstrelsy, a hip-hop concert and robots. The production premiered at Stratford East in June 2023, garnering rave reviews across the national press: Like nothing you've ever seen" The Tele ra
"Unique, challenging and oh-so necessary" The Guardian "It blew my mind a masterpiece Afridiziak During its run, the play was seen by 6,386 audience members, and 250 audience members attended a special panel talk chaired by Adrian Lester. A special 'Black Out Night,, dedicated to Black audiences, was created, leading to extensive debate in the media, including supportive editorials from Evening Standard, Time Out, The independent and The Guardian. We commissioned Pudding Audience Engagement and Evaluation specialists to deliver a report on the impact of the event, supported by the Paul Hamlyn Foundation, which clearly demonstrated the positive experience participants had of watching the show in this context. "Reflections repeatedly attested to the value of the Black Out night format in creating a safe and liberating environment for Black audiences as digested . demonstrating company objectives to create a comfy environment for audiences" Pudding Report Cast: 4 2 Black men, 2 white men Creative Team: 17 Black creatives formed 65 % of the team, including all leadership roles in the creative departments Award nominations included Best Director at the Offies (Matthew Xia); Best Design at the UK Theatre Awards (Sadeysa Greenaway-Bailey and ULTZ). Best Director, Best Production and Best Movement Direction at the Black British Theatre Awards. THE ARCHITECT Conceived by Mojisola Adebayo, Roy Williams and Matthew Xia, and created with a collective of leading Black artists including Bola Agbaje, Dexter Flanders, Vanessa Macauley and XANA. The Architect asked how we create a blueprint for the future, three decades after a seismic event in British history. This celebratory and stirring immersive theatre experience, which took place on a London bus in September, explored the lives of Black Londoners, imagining the potential of uninterrupted Black lives, and the hopes, ambitions and dreams that accompany them through performance, sound design, music and spectacle. Co-produced by Greenwich & Docklands International Festival, and in proud association with the Stephen Lawrence Day Foundation. Over 50 runners from Black-led clubs across London including Emancipated Run Crew, Black Trail Runners, Run Higher Collective and Black Girls Do Run acted as a 'guard of honour,, accompanying the bus along Well Hall Road where Stephen Lawrence died. Page 13
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES. REPORT (continued) for the year ended 31st March 2024 3,477 audience members experienced The Architect - 660 audiences saw a performance on the bus, and 2817 saw The Architect's Dream the final scene of The Architect which was also a stand-alone, outdoor performance. Extensive media coverage included reports on Channel 4 News, BBC Radio 4 Front Row, the Evening Standard and Sky News. A truly transporting ride... surreal, captivating and ultimately life-affirming" The Guardian 5" "Stunning" The Stage 5" "Inspired, intensely moving piece of immersive theatre" Financial Times 5" Cast: 8 4 Black men, 4 Black women Creative Team: 11 Black creatives formed 75 % of the team, including all leadership roles in the creative departments The play received a nomination for The Innovation Award at The Stage Awards. Develo ment Of Pro. ects During 23124, we: Continued development on our commission from Nessah Muthy FOREVER ALONE (co-commission with our long-term partner, Theatre Royal Plymouth). R&D and dramaturgical work is being supported by dramaturg Suzanne Bell, with a decision on future life of the commission due during 2024. The play examines the roots and the impact of so-called 'incel' culture. Development had been paused for a period following the fatal shooting of five people in Plymouth in 2021, to respect the sensitivities of the local community and to allow the inquest to conclude, which it did in early 2023. Secured the rights to present the English language premiere of Laura H by Anoek Nuyens, adapted from the book by Thomas Rueb, and first presented by Toneelgroep Oostpool in Amsterdam. The play is based on the true account of what happened when a young Dutch woman went to Syria to join Islamic State, her escape and return to the Netherlands. A shocking story about radicalisation and belonging, Laura H offers illuminating insights into Britain's own fractures over how to deal with those returning from Islamic State. Began development of Abi Zakarian's Let Me Take Your Pain, a new play about what it means to belong to the Armenian diaspora. FINANCIAL REVIEW (includes." Financial Performance, Fundraising and Development, Reserves, Independent Examiners, Small Company Exemptions) The company records a deficit of £55,539 this year. Financial Performance ATC'S turnover was £482,173, compared to £412,115 in 2022-23. We ended 2023-24 with a deficit of £56,539 compared to the previous year's surplus of £53,773. The deficit is the result of a contribution made by the trustees from the company's reserves to meet the financial demands of the significant ambition of the year's artistic programme. As the programme fell across 22123 and 23124, the trustees considered the financial position for the company across the period holistically. In addition, the company received late bills for two rental payments relating to 22123. due to ongoing negotiations between the company and its landlord over the start date of these payments, these were not anticipated in the previous financial year. Given the level of reserves held by the company, and in the context of a 22123 surplus in excess of the 23124 deficit, the board considers the deficit sustainable for the company. Fundraising and Development This year saw the start of a step-change in our fundraising efforts, with success in gaining two project-related grants and working to achieve long-term grants from major Trusts and Foundations. Page 14
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS, AND TRUSTEES. REPORT (continued) for the year ended 31st March 2024 The Board's Development sub-committee led by Sanpreet Janjua continued to offer valuable insights and support for the company's approach to effective fundraising. www.atctheatre.com/abouuboard Successful grant applications in this year included: Paul Hamlyn Foundation supported us to engage audience engagement specialists Pudding to undertake an in- depth evaluation of our special performances of TAMBO & BONES, targeting Black audiences. We believe this is a 'first of its kind, evaluation of community nights of this nature The D'oyly Carte Charitable Trust enabled us to support an emerging Black producer in immersive and outdoor producing, working on THE ARCHITECT This fundraising success has continued into 24125, and at the time of writing this report several multi-year grants have been secured from funders Esmée Fairbairn Foundation, John Ellerman Foundation, Stanley Thomas Johnson Foundation, The 29 May 1961 Charitable Trust and The Wates Foundation. Reserves At the end of the year, Actors Touring Company held a total of £164,827 in funds. Of this, an operational reserve of £66,055 is estimated as sufficient for three months, operational costs andlor the costs associated with an enforced orderly wind up. The level of operational reserve is reviewed annually. Our reserves allow us sufficient flexibility to cover temporary shortfalls in incoming resources due to any timing differences that would incur problems for cash flow, to ensure adequate working capital to cover core costs, and to allow the charitable company to cope with, and respond to, unforeseen events whilst specific action plans are implemented. The balance was held during this period as a designated fund for mitigating against the additional costs and projected reduction in tickets income during what proved to be a challenging year for arts organisations, and for the economy more generally. The Trustees review the company's Reserves Policy and level of appropriate reserves on a regular basis. With the ongoing impacts of the financial crisis in the UK and severe impacts to the global economy, we review our Reserves Policy annually to reflect these changes in potential risk, and the potential impact on future financial years. Independent Examiners The Trustees recommended at their AGM that Frank Lachman & Co continue as the company's independent examiners. Small Company Exemptions This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies. This report was approved by the Board of Trustees on 9th December 2024 and signed on its behalf by: Geraldine Brodie Chair of the Board of Trustees 9 202f Page 15
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) DIRECTORS. AND TRUSTEES, REPORT (continued) for the year ended 31st March 2024 Independent Examiner's Report on the Accounts I report to the charity trustees on my examination of the accounts of the company for the year ended 31 st March 2024 which are set out on pages 18 to 23. Responsibilities and basis of report As the charity's trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 (the '2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's report Since the company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England & Wales, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: (1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act. or (2) the accounts do not accord with those accounting records. or (3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. or (4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Frank S Lachman Chartered Accountant Independent Examiner 31 Fairview Way Edgware Middlesex HA8 8JE 9th December 2024 Page 16
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) STATEMENT OF FINANCIAL ACTIVITIES Including INCOME AND EXPENDITURE ACCOUNT for the year ended 31st March 2024 Total Funds 2024 Total Funds Restricted Unrestricted 2023 Funds Funds Restricted Unrestricted Funds Funds Note Income from: Legacies and donations 218,293 216,293 215,492 215,492 Charitable activities 10,513 255,367 265,880 7,500 188,860 196,360 Investments 263 263 10,513 471,660 482,173 7,500 404,615 412,115 Expenditure on: Charitable Activity Costs 10,513 528,199 538,712 7,500 350,842 358,342 10,513 528,199 538,712 7,500 350,842 358,342 Net income (56,539) (56,539) 53,773 53,773 Total Funds brought forward 221,366 221,366 167,593 167,593 Transfers Total Funds carried forward 13 164,827 164,827 221,366 221,366 The notes on pages 19 to 23 form part of these accounts. Page 17
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) BALANCE SHEET AS AT 31st MARCH 2024 Note 2024 2023 Tangible Fixed Assets Investments 10 Current assets Debtors Cash at bank and in hand 11 112,955 72,060 160,112 81,321 185,015 241,433 Creditors. amounts falling due within one year 12 20,188 20,067 Net current (liabilities)l assets 164,827 221,366 Total assets less current liabilities 164,827 221,366 Funds Total Funds 13 164,827 221,366 For the year ended 31 March 2024 the company was entitled to exemption under section 477(2) of the Companies Act 2006. No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for: i. ensuring the company keeps accounting records which comply with section 386" and ii. preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the financial year in accordance with the section 393, and which otherwise comply with the requirements of the Companies Act relating to accounts, so far as applicable to the company. The accounts have been prepared in accordance with the special provisions in Part 15 applicable to companies subject to the small companies, regime under Companies Act 2006 and constitute the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. Approved by the board on 9th December 2024 and signed on their behalf by Geraldine Brodie Chair of the Board of Trustees Geraldine Brodie Page 18
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) NOTES TO THE FINANCIAL STATEMENTS for the year to 31st March 2024 1 Accounting policies (a) Financial Statements The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Actors Touring Company (London) Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes. (li) Tangible Fixed Assets Depreciation is calculated to write down the cost less estimated residual value of assets by the reducing balance method over their expected useful lives at the following rates. Furniture, fixtures and equipment 25 % on straight line basis (iii) Income Income derived from co-production agreements, performance fees and other sales is credited to the Statement of Financial Affairs (SOFA) in the period to which it relates on the basis of entitlement - excluding value added tax. Grants and donations represent amounts from individuals, corporations, trusts and other funding bodies and are credited to the SOFA in the year in which they are expended. (iv) Expenditure All expenditure is accounted for on an accruals basis excluding value added tax. Costs are allocated to a category in the SOFA either because such costs are directly incurred in relation to such category, or because they are support costs in respect of which an apportionment has been made between the SOFA categories. Support costs consist of infrastructure costs for salaries, premises, office administration. Such costs are apportioned on a reasonable and consistent basis to the various SOFA categories with a view to determining, as accurately as possible, the total resources expended for each category. The basis of apportionment used is either a function of staff time applied to a given activity, or an estimate of the proportion of costs associated with the same, or a combination of both. Direct and Support costs are separately shown by natural classification in Note 5 to these accounts for each SOFA category of cost. (v) Debtors Trade and other debtors are recognised at the net settlement amount. Prepayments are valued at the amount relating to the next financial year (vi) Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. (vii) Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will in the transfer of funds to a third party and that the amount due can be measured or estimated reliably. Creditors and provisions are recognised at the net amount due. (viii) Pensions The company operates a defined contribution scheme for the benefit of its employees. Contributions are recognised as expenditure when due. (ix) Significant accounting estimates and judgements In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. These estimates and assumptions are based on historical experience of future events and are reviewed anually. Page 19
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) NOTES TO THE FINANCIAL STATEMENTS for the year to 31st March 2024 Restricted Unrestricted 2024 Restricted Unrestricted 2023 2 Grants and Donations Grants for General Running Costs Arts Council England - NPO funding Donations 211,596 4,697 216,293 211,596 4,697 216,293 211,596 211,596 3,896 3,896 215,492 215,492 3 Charitable Activities Restricted Unrestricted Funds Funds Restricted Unrestricted Funds Funds 2023 2024 Project Grants and Income Theatre Tax Relief Paul Hamlyn Garrick Charitable Trust Abcam D'oyly Carte Earned and other Income 104,005 104,005 5,700 138,981 138,981 5,700 3,500 4,000 3,500 4,000 4,813 4,813 151,362 151,362 49,879 49,879 4 Analysis of Charitable Activity Costs Restricted Unrestricted Production and project costs Acting and Creative Fees Venue hire and rehearsal space Set costumes and props Lighting and production equipment hire and costs Marketing, promotion and PR Co-production and touring Travel, accommodation and transport Other production costs Support and governance costs 2024 Restricted Unrestricted 2023 10,513 172,571 1,392 11,017 183,084 1,392 11,017 7,500 61,871 760 3,862 69,371 760 3,862 8,015 1,295 8,015 1,295 6,456 6,456 5,456 5,456 13,268 13,268 40,345 40,345 10,477 10,477 208,347 208,347 350,842 358,342 57,473 18,178 258,258 528,199 57,473 18,178 258,258 538,712 10,513 7,500 Support Governance Costs Costs Support Governance 2024 Costs Costs 2023 5 Analysis of Support and Governance costs Rent and rates 30,595 Storage 3,084 Telephone and internet 1,041 Insurance 2,891 IT equipment and support 3,470 Equipment expensed 1,876 Salaries 148,779 Social security costs 10,511 Staff pension costs 3,109 Staff training, recruitment and welfare 657 Travel, transport and subsistence 2,109 Printing, postage and stationery 77 Theatre tickets and hospitality 2,151 Subscriptions and licences 3,897 Sundry costs 1,559 Bank charges and other fees 356 Consultancy 28,892 Company development 5,698 Fundraising 5,560 Independent examination 30,595 3,084 1,041 2,891 3,470 1,876 148,779 10,511 3,109 657 2,109 77 2,151 3,897 1,755 356 28,892 5,698 5,560 1,750 575 3,773 911 2,794 2,579 575 3,773 911 2,794 2,579 142,632 10,303 2,968 2,295 2,212 1,958 2,444 3,513 3,614 541 22,505 142,632 10,303 2,968 2,295 2,212 1,958 2,444 3,513 3,614 541 22,505 196 980 980 1,750 1,750 1,750 256,312 1,946 258,258 206,597 1,750 208,347 Page 20
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 6 Net income for the year after charging: 2024 2023 Independent examiners, fees Independent examination 1,750 1,750 1,750 1,750 7 Staff costs and numbers 2024 2023 Salaries and wages Social security costs Pension costs 148,779 10,511 3,109 162,399 142,632 10,303 2,968 155,903 There were no employees with emoluments above £60,000 in the year. (2023 - none) Staff numbers The average number of employees during the year was made up as follows: 2024 2023 Support Trustees. interests During the year, none of the trustees received any remuneration from the trust and no expenses were paid for or reimbursed to any of them. Pension costs The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £3,109 (2023 - £2,968) 8 Corporation Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applies to its charitable objects. Page 21
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 Furniture, fittings & equipment 9 Tangible Fixed Assets Total Cost As at 31 st March 2023 As at 31st March 2024 7,898 7,898 7,898 7,898 Depreciation As at 31st March 2023 As at 31st March 2024 7,898 7,898 7,898 7,898 Net Book Value As at 31st March 2024 As at 31st March 2023 10 Fixed Asset Investmens The company owned 100 % of the share capital of Actors Touring Company Productions Limited, a company registered in England and Wales, registered number 09389978. This company was voluntarily struck off on 3rd May 2022. The results for the period ended 3.5.2022 were £nil (2022 - £nil) 11 Debtors 2024 2023 Trade debtors Other debtors Prepayments and accrued income 1,430 5,000 106,525 112,955 16,092 385 143,635 160,112 12 Creditors: amounts due within one year 2024 2023 Trade creditors Other creditors Taxes and other creditors Accruals 20,343 17,387 930 1,750 20,067 (6,393) 6,238 20,188 13 Reconciliation of movements in members funds Unrestricted Designated General Restricted 2024 2023 Income 471,660 10,513 482,173 412,115 Expenditure (528,199) (10,513) (538,712) (358,342) Opening funds 57,903 163,463 221,366 167,593 Transfer 86,458 (86,458) 144,361 20,466 164,827 221,366 The above funds are represented by net current assets Page 22
ACTORS TOURING COMPANY (LONDON) LIMITED (A COMPANY LIMITED BY GUARANTEE AND HAVING NO SHARE CAPITAL) NOTES TO THE FINANCIAL STATEMENTS for the year ended 31st March 2024 14 Limited by guarantee The company is limited by guarantee and does not have a share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2024 there were 9 members. 15 Unrestricted funds General Fund This fund exists to allow the company to respond to unforeseen opportunities and costs during the year. 16 Designated Operational and Organisational Reserve This reserve is intended to provide sufficient flexibility to cover temporary shortfalls in incoming resources due to any timing differences that would incur problems for cash flow, adequate working capital to cover core costs, and would allow the charitable company to cope with, and respond to, unforeseen emergencies whilst specific action plans are implemented. It is sufficient for 3-months operational costs and/or the costs associated with an enforced orderly wind up. Designated Restricted Restricted by grant terms from Trusts and Foundations (for example, this year, Garrick Trust and Abcam), for use on designated projects. 17 Other Rents payable for the year were higher than for 2023 due to late invoicing by landlord. Page 23