2022-03-31-accounts - Theatro Technis Company Limited

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Trustees. Annual Report for the period Pgrioj 8tsrt dats peri1 end date To Reference and administration details Charity na Theatro Tachnis Othor names charlty 18 known Rgglstergd charlty nufflr {if any harlty No. 280885 Charity8 prfnGlpal address Crowndal• Road ndon ostcode N•m08 of the charlty IrustOO5 who manag& tho charlty •dod11 not for whol• Trts•tsg n4m• Offlc• ltt any) Nwn• of p•r•on lor body) •ntftl•d to •ppolnt bw8t••111 •nyl Christos Araclid8s H. 01992 764339 Lucy Christy lucy_c'hris ahoo.co.uk M 07956 334910 Signatory Comrnunication8 Andreas Gavriglid88 Imdil H.020 8883 4949 Treasurer Michael Constantine ,.801¢On$1antln M. 07712 205054 Steve Constanllne Legal Advisor ail.¢o.uk PR M. 07712 205054 Oorota Krimm81 krimmel M,07704 923CQ9 Costa$ Louis Coslaslouis H. 020 7837 S274 Intomational rglati¢)ns Equality, Diverslty and Indusion Dr Marilyn Panayi maril lheatrotechni8.com M: 07783181938 Panos Savvid88 anos savvides Chair Health and Safety ahoo.co.uk M. 0782 4559516 10

Name5 of the trustees lor the charity, if any. (for example, any cu$todian trusl•es) Ilame ates acted rf rbot for whole ear Names and address•s of advisers Ioptlonal Inforniation) of advlser Address Accountants b Stroud Green Road. London N4 3ES 020 7 281 1188 3rr ,flharrviTriwlaou co uk https:IlwMw.harrynlcolaou.co.ukl Hany Nicholaou N8m• ol chlef exe¢ullvo or name$ of sanlor staff memb•rs (Optional Inforniatlon) ni . 020 7424 9498 M. 07445 864465 Structure, overnance and mana ement Descrlptlon of lh• Chartty's trusts TY ol g)veming document andwn How the charity 1$ constituted company Ltd Trustee sel8c)'on methods ec¢)mmondatKKI8 to Company Secretary and election at AGM Addltlonal gov•rnanc• Issues {Optlonal Infom•tlon) Tho trusloas ar& continuing to review all polici65 and profxdurè8 ilUdIng Iho88 that relate to H8alth and Safely in th8 light of the COVID parK18mic and lifting of re8triGtions that will enabte to the reaopenlng . rtrlaunch of our activib'es. As Theatro Technig conlinues il 65 year and moves furth8r along in rts 6 decade ol operation the trustees af8 continuing their overnight of the 'nexl generation. develop plan. This wntir¢ues to enixjmpass an ongoing r8view and monitoring of the charity's Viorks for il's nefi ciaries and lo ensure succession planning together th secursng its work for th8 fvture. The trustees WOTk wiltt Kerry Kyriacos Michael MBE contlD.ues. The 8xecutiv8 team has impl8m8nl8d risk man8gemenUmitlgalion op8rab.onal prctesses, procedijfes. This h,as induded govemmenl guidan¢e as the COVID Crisis evolved. They report to the board on a règular basis. Ob'ectives Activties, Achievements and Performance The main objects of th8 charity arè sel out in its 9oveming doonI.

Brief Summary Theatro Technis is a professional arts venue rCted in rt8 ever-Channg communlty. We hav8 been operatlng for six decadès and is an essential part of the broad and divers8 Cultural ecolcNJy of London. both in lemis of the 8verryctsnging locat larÈdsc4po 8fwJ for Ma[nalised and emerging companles. Theatro Technis continues to seNe it its roie as a player in one of London'$ more signifiLxnt regeneration initiatives Ihe Klng's Cross. Cultu[ Capital. On the Surfa KiThJ's Cross o)ntsnues to attract inward investmenL and yet our txttnmunity still sees extremes Lrf wealth and poverty. This uncerLginty around r8g6neratson, g8ntrifJGation and change continues to risk alienating local audiences. In the coming year8 Theatro Technis plans to play an even more cwcial role to help all our stakeholders understand, proc8ss and to rne lo terms with th8 Opportunit$, challenges and changes around Lts. We have, and will always bè committed, to Ihe young people. artts arNd community aUdnceS 01 Camden and th8 surrounding boroughs, Thealro Te¢hni8 has grown from one of the first Minority Ethnic I1 organisations In the UK, founded by George Eugeniou. It later b8came a permanent theatre lor th8 Cypflot MMUnitY in London, one of the few professional and community theatre organigalions presenting and roinigrpreting classical Gr8ek Th88tre. Now it is home fof all Global Maiorty artists, a nexus for n8w and emerging ta18nt, and tho$8 with more expeiienced in the irKlustry, from a51 ov8r thg wortd. Our artlstlc prioritiès foojs t)ur Wofk with Mw and omorging compani85 and ttw)se working with marginalised groups. Located al th8 centre of one of the woNd most diverse city we must refiect both our local international mMunIty. The COVID 19 pandemic coupled wlth the falk)ut from BTèxIt and rK)W the UK cost of15ving crisis conllnues lo impact health, well.b8lng and economlc challenges ol th8 cornmunitie8 Wè 8erve. As we enter furth6r un¢ertainlies especially 8conomically, the n8èd for ihe creative arts and support for the oft8n unheard voices of our communiti88 rnedg to be highlighted. Theglro T8chni8 conllnué8 118 aCtIv1&S lor the pwpow of wblic b8n8ffl in line with thelr article of memorandum and the charttlgs commission. Our income gen8ration comes from b)th pTogrammino our theatre auditorium and our hlres ol the building . theatr8 offices and rehearsal spac8s. We programme a 120rfap8city th8alre. Iwo sludiolrehe8rsal rttsms and offer OiT1 Space for the cr8atlV8 industri6s. The thèatre is behind our front building 'The house,. The house has 0 grourKI floor aceegslble 8tudioliehoarsal rooms for hire. our theatre office and two lloors of office spac8. The house continues to provide support for two anchor tenant companies lo continue th8ir wor in film and work with childr8n from the Somgfs towns are8. One of those cornpanFe8 moved ITOM Th9alro Tochnis offico Space and was given new premises in Camden, but will conlinue to have it's productn6 in our theatr8. Our studios arg used by a range of professional, amateur and C4)mmunity organizatTrons for various cr88tive industry actlvities such as rahaarsals, audition, filming. meèknngs, dance d&sse$. language cla8888 and as popup exhibitn space8. Our thre84ided audilofium is available for hire lo professional and Mmunity organisatlons as box offic8 guarantees and Some time with an addilTronal first call on lickel sala$. Th8re is also secondary inc¢xne from our small bar and café. As part of our re-stwcturing, wo have two part-time freelan( slaff, a G6nor81 Manager and a Strategic Advisor. Other staff are employed on a sessional basès, as freelancers to support our activiues including Front of House and Duty management when the Thealre anrj h¢)us& are b8ing hired. Th8 trust8es continue to work closely with Kefry Kytiacos Michael MBE and our General Manager Annabol Williamson Kery and Ihe executive gFOUP {Lucy Chrislofi, Pannikos Savvides, Marilyn Panayl, Afis Eugeniou, Karry Kyriacos Michael), have taken a prominent role in securing one-off funds from C9mden Council and donations that have supported operational work Induding upgr•Jes to the building and supported young ath"8ts development. The group have overseen necessary upgrades to th& buildlng infra$lructure both in the house and the theatre to ensure continued MplianCe wth Health and Safety and that we w•r8 ready to re-open and r&launch post Ihe lifting ol COVID re5tricbons. The executive group togetheT with Irusteeldireclors continue to devebp funding str8ams, Ihe strategic plan. Including the plans for the slle develo mènl.

Tleatro Technis conkn.nues io be a nexus for updKning talent and WOTities these emerging artists in its..; work. Activity vi 2021-2022 'ncluded professional companies. trwning llegeS and intemaltonal visitors. We ', I were also able to secure ts support of a prs>bono archivist to ork the Thaatro Techn archive and j create material for a Yirtual ethibilion to be !aiJnth p.8Xt vear. We o)ntinue our c(DmItMerrt to I1 and fX)mmunty arts work induding classical Gréek Ih&atre and '; Intemporary re-118TPreIal9ons ol these rks. Upcoming plans indude a greater focus on partnership work with p,'ofessional c4)mpanies within the Arts Council of Engll3r NatK)nal Portfolio: and festivals induding ,, I Shubbak Festival, UK'S larg8st festiv of cnnlemporary Arab culture and the London Jaz2 Festival, ¥Ve also have ongoing dialogues with ccffimercial theatre producers to davelop our program o,, profossional theatr8. Our bullding conlinu8s to our largest asset and are Wking with Camden Coundl, phllanthropic and ethical developofs in exploring ils rede&gn and pot8ntial expanwn. Con'JersalÈons have recommenced and | l are al &ady gtag6s. Howèver, we recogni88 the opp)rtunitS this can give us to strengihen our operational | modgl and financ[ basis, indl1g increasing our turnover. securing our infrastructure, which in lum allows us to bettér fulfil and dev61op our chaTttable aims and obJ8ctives. Although the charity is not subi8¢t to statutory audit Ihg trust our finanual modelmng and risk a58e88ment I tell us we need to adapt our busin8ss mod81 to rUc8 our risks. Thp. trusle6s continu8 to overseè our $lralegic, risk manag8ment and succession review and lo evaluatè strengths and weakness of Ihe charity's operatlonal activlli8s ttsaglher wtth key p9rforman indicators wher8 r818vant to inform thi8 process. Staiutory OlaratIon on Publlc B•nefit The truslges dedarg that they have corn18d with iheir duty to have due ragafd to Ihe guidanco on public benefit publi8h8d by the Charity c(Mnmi8*' in exercising their powers or dulles. Financial review Brlef statement of the charlty's pollcy on rè8erw08 We h8ve maintainéd a surplus lor th8 last len years and have a roserves policy of thr•8 monihs overhead6. Any ternkary use of reserv wa5 agrsyad by Ihg trustees, From accounts As part of our r&$tructuring, w8 have two fr88lanra staff. a General Mana98r and Strategic Advisor. Othor staff are 8mF4oyed on a sessional bases, as fr8elanc&r8 10 8UPWrt our activltt•s induding Front of House and Duly managEnt tho Theatre and house are béing hired. See account notes. Furthor flnanclal r•vlew briel detalls Prlnciple source of funds: I Set$enerating InMe from hinng of tho buildirKJ. offtce spaix, studM)s and auditonum. i Expendfturn: All expenditu is use to supwrt the charty in continuing its key objectives and sel out In Ils | m8rrrfJrandum ,' Investment policy The charity does not currently cperai8 at a bvel that warrants ethical Investment 0111• of any funds malerlalty In d•fl¢lt

Other information COVID 19 change in restrictions Thg COVID 19 pandemic and associated residctions in movem8nt. Itxkdovm and busines5 Curtailment will Continued lo impact on lh& operatIS of the work of the charity. In last year the trustees have monitored these impacts, the health and safe of staff. buildiw users and income gefièrating 8Ctiwli&s. The trusleeg have monitorèd the work of the executive team who are overseeing operational Matte which have focused on ¢urtailladapt aclFvities, risk assessmenl aThJ s8curing govemmenl and other funding. Th& trustees continue to build the capacity of the board and 6xecutive team which wdl enable th8 charity to cx)ntinue its operations. Funding secured from Camden Council enabled us to b8gin necggsary building mainl8nanc8 vnrk to ensure compliance with H9alth and Safety indudlng COVID guidance for venue8. Declaration The trustees doclare that they have approved the trustees report above. Slgnèd on behalf of tha charlty's trustO8S Sl9nature(8) M Panayi loloctfonlc submisslon) Full name{$ PosltDon (Nomlnal Chair Dat r Marllyn Panayl halr .10.22 OR Declaration The TTuslea$ declare that they have apwoved the abov8 report and aulhoris that11 b8 8lgned on thr behalf.

Theatro Technis Company Limited Report and Accounts For the year ended 31 March 2022 Camden T)n London NW11

Theatro Technls Company Limlted Forlhty ar•nd•d 31 2022 LEGAL AMD PDIIIISIRATIVE INFfX11i4T Charfrty na.. 15>W)49 •thJrefj• Th• dKectorn tho In offr• the yww•rl up to tho dote cl IN8 W•r•'. Chn•tc• AradJ•• P1 Ib)O•p•nd•rt ExnlMr NxJ 218rerthn Way. ErrfhX EN12LF B•nk•rn •8tablt8hed und•r Ihe Memwthm ol A88Lja provthd Iho obp(ts •rl Ixprn ol the t#b CnY. Contri an afint mt &¥(thng £1. Th8 directorn ol Ihe COmnY are ako tharity Iru8lee8 for the ofdIity18wd under tho rxwryanls Art& TnMt•• Indve¥on and tranln

Theatro Technls Company Limited Forth• r•nd•d 2022 Rl•k m•Mg•m• h8vg been eglabjrdhad tri Mgett Ia? Ti8kB. ¢ty. Al preoontthe toard h88 nim from • vwiety baektyojnds. ?xecutNe toam. 08JECT8 OF The cHA9Y The obj.tels of Ihe Ltsty af• k.. • relieve FL)vtsity iicne8• and to S018¢t hoamh ty tF• p1) in taw of lor aged These •rt dl wth a sopwats dorajw Th8th T15 Rw. 202Y whk pwl ol thNI rw>ort. The OW8 hx Ihe y•8r w £105,1451202t £94.7} and • wa• £140,150 12Q1 tell,0> tting In • net 8uW of £44,s12021 •UfF4Js of £33.&XI kn th• >••r. d Ixlr4 fvThJ8. Aftor •dduy4 th• 8UfF4u8 to fvryJ• brourtrt e61.276 (2tr21 £27.3701 th• ld5 £lL271 12021 £61,278). 31 March 2022 th• hold• lrne £70.671 (2021 £94.7231 Frn• ar• thow not ti•d In a88frts or h•ld 08 rnstrid•d fvvl8. ndlng aTrJ lo enwjre th• foNJ twm viqwty rfth• dwfty. IMPP£T OF THE Cov119 PANDEAIC an impoc4 tho of dwlty. tho liftwig of 8LTh th• has lesoentsj. The tru¥1$ tt> C<81[ the eff•cts ol Ih? ongdTrJ a1 •nWt•d COVID 19 tYSUti8 on Its operalKJn8 in ten01 hth m• gov)ITnt and other fundhy th41 wll erowe sustswwbthty and •U(XXx rknrrirg the aThJ luwre Th T8POrt h88 b•1 In Lrd& TAth Ihe Part 15 of A( to c¢mpgnM 6ubiect to thts 8mdl rory9r ro¥ad by thg Board on.. .. Dire

s of Independent Examiner's report to the truste Theatro Technis Company Limited

I report on the accounts of the company for the year ended 31 March 2022 set out on pages 4 to 8.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under �ection .144 of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

It is my responsibility to:

examine the accounts under section 145 of the 2011 Act;
to follow the procedures laid down in the general Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and
to state whether particular matters have come to my attention.

Basis of independent examiner's statement

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison or the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as truste s concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention to indicate that:

accounting records have not been kept in accordance with section 386 of the Companies Act 2006;
the accounts do not accord with such records;
where accounts are prepared on an accruals basis, whether they fail to comply with· relevant accounting requirements under section 396 of the Companies Act ·2006, or are not consistent with the Charities SORP (FRS102);
any matter which the examiner believes should be drawn to the attention of the reader to gairi a proper understanding of the accounts.
_ _ .\�----�-� - ----- - ---------- - -- -

HARRY NICOLAOU FCA Of Harry Nicolaou &Co Limited Chartered Accountants 38b Stroud Green Road London N4 3ES

17 November 2022

Theatro Technis Company Limited Stat•ment of Flnancial 1vIlle$ {Includlng Income and Expenditurn Account) For th• Year Endod 31 March 2022 T*ital fvnd• Tol•lfvnds 2(Y21 INCOME from: Donatlons and grants 85.108 Charftabh actlvltl••: Theatre Letllng ofoffKe 8PHCè Bar Inoome (Jhor incne 88,748 21,(k89 8,168 21,308 6,OCKJ 2,742 8.1 Total In¢om• 185,140 94,706 expENDfTURE on". Charltabl• actlvitl 140,150 Total •xwidftur• 140.100 Mot Incomo and n•t mov•m•nt lunds 995 RECONCIUA TION OF FUNDS Total fiJnd8 br9 forward 81276 27,370 Total fund• wrl•d fonArd 106371 61,276

Theatro Technis Company Limited Balance Sheel C• P40. 1509049 As at 31 March 2022 2022 Fixed •M4ts TaThJible a$8•ts 204,891 134,823 Tolal Ilx•d as••ts 20V91 134.823 Cuff•M ••••th Dèblo Cash at b8r 10,481 70,438 2,082 94.841 80,899 96.923 Cr•dltorn: Amounts hlllng du• itslthln on• y•ar (10,228) 12200) 70,671 94, 723 2YS,$62 229.548 •mounts fallln9 du• aft•r morn th•n on• (169.2911 (168,2TOJ 108271 61,2T6 Fund¥ 1271 61.278 Totsl charfty fund• 106,271 61.276 The dkfjctrs are satsll•Y that Iho tt¥npany 18 enw to exemptson from the rOqrfi•nt to obtatn an athjtt undor sectkM 477 of thg C(xnpanFe8 Act 2fKI% aThS m•mbgrn havo n¢ rU1 thg comp8ny to obtakn an in ac¢¢Kd•n 7Allh 478 IA Ihe Tho dlrnctLY8 ackiw)IIl thelr reS$1[[tses for r)ynth vAth Iho requirTht8 oflho Ccnp18s Act 20C th res to occountirJ r08 arxd tho preparaticfft of ac)unts. The gccI)iints have beèn prgp8red in acwdonce pr)3 In Part 15 of th• Comp•rAM Act 2C gppIKable to Com 8Lkn to ¢yJmpanlg8 d t3ned on Ihthr b**lf ty. Mty P8nqJ4

Theatro Technis Company Limited e3 to the Accounts For Ihg Year Endod 31 March 21y22 B•$ls ol a¢¢ountlng Thg ¢015 lfinandal strtts) hasTr K¥VTgd In a¢¢thwc vAth A¢ctyJntlng and Rop)rtfr by ChaFlllas'. Ststnt of Prn(8 applKablo kn 1111•8 preparj Ihalr a¢Lxwnts In accordance wlth th& Fln8no81 Ropxbng StaThJard apFAl¢abl6 Sn thè UK and R•wbllc of Ireland IFRS 102118ffecthe 1 January 2015) - Ichwths SORP {FRS 102)), the Flroncl81 stKlatd applkab18 In UK aThJ Rwtllc of lrnl¥J (FRS 102) aTrJ Ad 2. Th¥ •¢count6 hm be on a conc•m as th• tte@S boNev• that no matsrlal uncertalrth ex18L The trustees havg cordered th• level of fuThJs held and tht eXF•cW lovd of charfty Is ablo 88 8 g(xr¥J Incom• rncollnlllon All Incryno Is mcognl8•d orK the cwty has enttlrnt k Ihè hmo. thorn 1$ 8uffi¢lerrt cwtalnty ol rnealpt and 80 tt 15 wobabk ttwt tho Irtomo b¢ thtr annt of Incomo reL¥•blo can be nwured rellthy. Expendlturg Is r•cognlsgd Itw• Is a l•oaF or cllJ•kn to moko a pAJryn•nl lo a thlrd paty, tt18 th•t a 9g1U•Mt will bo r•wlrnd and thè of th& t11911 m84SLw•J rollabty. Fund c¢ounllng Unmth¢t•J funds arn grants. (kThlkm8 aFKI othw rgwJrr•s rg¢4vablo for th• objgcts of I chaty wtthout furlhér pu089 aThY arn avallgljle 88 gonor•l furttls. Dgpr8¢latlon Is prothd at rat05 cqbJlat•J to wrft• oft c4) as kn8 tt8 eBttmgtod relldu valu•, ovèr the u80fv1 Ufe ollht 8#•¢t M fc4ltrws.' FumlluT• & 8qul1xnt 15% ba•n¢• An a88•WWrt of tho rnt r•allsablo v4kn ol ImBhcld bLAhJlry8 at t810¢ w81 has twn dertak•n. On the bth tho1 freoh(Ad te wdl maintalnod and r•p8lr cfjgts wlll ba Charg to th8 Slaternenl of Fln•ndd AcOvltl•s, tt 16 tha th 01 th8 dlr8¢ttys that tho nol rna115ab valuo at h15torl Jsl oquat•s D•pIallon 18 chwggd (Yt Ir88hc4J 111 on the ctssl 18Bs thè thtod rosldual Value over 100 y8ar& On th8 basls of th8 abovo no chwgo is deem8d nwtsary. An hry>alTmont revknw 18 carrt o¢rt on an amuat b8sL8 to a8•ess wh•th8r market valuo d th8 bulldlngs L8 al least as mlth as the Con0 value Ni tho aLX(1ts. ProNlslon Is m•Je any p¢nnanonl fall In valuo. D•btor4 Trada and ¢)th•r d8bknYs arB reccw18ed at tho s91llet aft8r any trado dlscounts offorod. PrepayMts arn at th• amrA¥k aftw yt d any trade dthwjnts dug. Cr•dltorn Creditors And promsions rocolS9d t*tMe th8 charfty has a F1 thllogltwt fB8ulting from a past ovent that wll rnbatty restit in thg transfer of to 8 tNrd pwty aThJ anYAmt dug to solve th thotr s8tllam8nt amLKmt aftw f(¥ ary trad8 du•.

Theatro Technis Company Umited Forlh• Yw End•d 31 IAv¢h 2022 Staff 0x18 (ncla 41 16,065 Lo¢91 wlts)rity pknnnfvJ S[thF#Il8 ar k ch8rg8S 5.017 1,05) 331 Cl8anlng 1.704 3,787 1.431 2.485 T17 2.862 f.60S 5,792 4,002 Ught thj t1 Ral&8 And walor Flr¢ •rnl IrIty 415 1.06T 47.841 6,OfAI T41oF1 &)d lax 1.188 4.978 M•nagaThinl f••• Cor*thKy f• 14.0 3.828 12.781 2.900 418 2.2fy) 140.180 TrJ• Is 8l#t•d oft•rcharglTrJ: l¢Mlepond•rtl Examlnef8 fee 12,781 416 Sdarleo arKI wege8 1.053 3.930 13.015 3,050 16.065

Theatro Techni8 Company Llmtted For th• Ymr End•d 31 Il•rch 2ft T•nqlbl• knd a••ts T•lal Colt At1W2021 lttonB 19).515 91.041 82049 241,556 82,849 At 31 Mw¢h 2022 tgJ.515 17JJ 324AOS At 1 rtI2021 Char90 brthg Jwr 18.050 88.683 12,781 108.733 12.781 At 31 Mwah 2022 14050 119.61 4 N•t l)ook valu• At 31 March 2022 132A05 2041 At31 2021 134.823 b•en e•lkn•t•d by tr) h cN•r £2m. 10A61 2,082 10.461 2,082 Crodltm and a¢ax¥ 10228 Z2(Xl 10228 Loon8 IMt• 9) 189.291 7rt270 169.291 168,270 Th• arnoLmt dl to Mr G Eug8nioLt Ilthe Se¢retsry Afuslk DkAor af company) at thg y88r end £30.553 (2¢r21 £30.553) and tho A EwJth)wJu (a mgth of 81ttffj £138.738 (2tr21 £137,7171 Tr*8e we b)rnJ kws b) th• ty. demand In Iha ¢¥1 ofth• (al the of Ihe fr¢ehdd l&r•J 8fKI or viabltyofthe ¢haTfjty.