ALMEIDA 3IIIV3HI ALMEIDA THEATRE GOMPANY LIMITED AIINUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022 Charlty Number: 282167 Company Numb•r: 1541033
ALMEIDA THEATrE COMPANY LIMrrEO CONTENTS FOR THE YEAR ENDED 31 PIARCH 2022 L•911 and Admlnl•tratlvo 0•ts11• TfU•t•M' R•port Ind•p•nd•nt Audltof• R•pgrt Con•olhlat•d 3tstsrn•nt of Flnan¢lal Acllvlti l•nc• 8h••t• Con•olldat•d 8t•t•m•nl of Ca•h Flow• Nots• to lh• Flnan¢l•l 8tst•m•nt•
ALMEIDA THEATRE COMPANY UMITED LEGAL AND ADMINISTRATIVE DETAIL8 FOR THE YEAR ENDED 31 MARCH 2022 Olr•th)rs •nd Truit• Lukè Johnson ICh•irl R8chel Parr ITr8a8urerl John Armah Kamini 8anga Jonathan Church Manlsha Ferdlnand Slon Hansen Dorothy Hendbrx5n S8ri8h8 Kumar Tanya Seghalchlan Artl•tlc Dlr•¢tor & Chl•f Ex•eutlv• Rupert G1 Ex•cullv• Dlr•¢tor DgnlBO Wood S•cr•t•ry and r•gl•t•r•d offlc• Tan18 Clark Almolda Theatre melda Strgel London, N11TA Charlty numb•r 282167 Company numb•r 1546033 Audltor Buzzacott LLP 130 Wood Street London EC2V 6DL B•nk•r* Natjonal Weslmln8ter Bank plc IBI Floor 440 Strand London, WC2R OQS
ALMEIDA THEATRE COMPANY LIMITED TRUSTEES. REPORT FOR THE YEAR ENOED 31 MARCH 2022 Thè Trustees, who are a180 Dlrectors of the company for the purp)ses of Ihg ComponS08 Act, present Ihelr Annual Roport together with thg audSled flnancial 81atements for the year ended 31 March 2022. The financial 8lalemenl8 havg begn Fiepored in Accordance wllh the accountlng polici88 set out on p8ge8 30 to 33 of the attached financial statements and comply with the charSty's Memorandum and Artlcles of Associallon, the Comp8nlg$ Ad 2006, the Charllles Acl 2011 and Accountlng and Reportlng by Charhles.. Statement of Rectsmmended Pracltce applicable lo ¢hariligs pr8paring their a¢¢ounl8 accordance wlth the Financlal Repong Stsndord applicable in the UK and Republlc of Irel8nd IFRS 1021. STRUCTURE, GOVERNANCE AND MANAGEMENT Con•tltutlon and Stru¢tur• Tho ch8dly Is consllluled as a Gornpany Ilmll¢d by gugrantee and Is therefore govomtd by a Memorandum and Artlc198 of A8soclatlon. The maximum118billly ol members In the evgnl of • ndIng up 18 £1. At 31 March 2022 there warfj ton m8mber8 who are all Directors ol the charitable company. Tho Gharity has Iwo acllve, wholly owt)od tradSng 8ub$idlarlg6. Almolda Theatre Caterfng Ltd and Am8ld# Productlons Ltd. Any profil8 go lo support Ihg ¢harity. Gov•rnan¢• The 8Ctlvltles of the charlly ore superviséd by the Trusleeg, who meet 08 8 8oard quartody each y8ar. or morè often a8 neco880ry. The Truste88 delegate the day-to4lay management oflhe chadty lo 518 pald Staff, partS¢ularly th8 Artlslic and Executlve Dlrector8. The ArtlslS¢ DSrector18 the Chlof Exocullvo Offlcer ol th8 company. sUb0mmittee$', Financ& Commltlee NomlnalSons Commlttae Iwh8n rfrcrUng Tru¥tees of the company) Equality, Diver81ty, and Incluslon Committo The profe88lonal gxpgrlon¢g of the 8oard conllnug6 lo provlde strong support and 8dvlce lo the Executive team and 8laff through sp8clallsl and indlvldu81 meellngs. In addlllon. a Oovelopmènl Councll 8UPPOrt8 the Exewtlve and the fiJndrai$ing team to Identlfy and secure new supporters and spon80r8, lor whlch wo oonlinuè lo bè gmteful.
ALMEIDA THEATRE COMPANY UMITED TRUSTEES, REPORT IntInued) FOR THE YEAR ENDED 31 MARCH 2022 STRUCTURE, GOVERNANCE AND MANAGEMEWT Iconllnuedl Dlr•¢tor8 and Tru8tse Th8 Oirectors. who are 8180 th8 Tru$lee8 ol the charfty during the year. were.. Luke Johnson IChalr} Roch&l Porr ITre88ur8rl {Appolnted 23 June 20211 John Afmah (Appointed 23 Junè 20211 K8mlnl BangA (Appointed 23 Jung 2021} Axel Burrough {RelSred 23 June 20211 John Ca¥sy {Rellred 23 June 2021) Jonathan Church Carrle Cracknell (Retired 23 June 20211 Manlsha Ferdlnand Rlchard GSld8B ITr6a8urerl IRettr8d 23 Jun8 20211 Slan Hansen Dorothy Hendor30n Sarfsha Kumar (Appolnted 23 June 20211 Tanya Seghal¢hlan Ex•¢utlv• T••m Artlslk Dlreclor and Chigf Ex&cullv&- Rupert Goold Exacutive Dlreclor- Dani88 Wood S•nSor Manag•m•nt Assoclata Dlrector Dlreclor ol Davelopmont Dlrector of Marketln9 and Communlcallons Dlrgctor of Particlpalion and work wrth Young Poopl General Manager Head of Finance Hoad of Producli¢)n Producer K•y rnanag•m•nt p•r•onn•l The key managern8nt of tho charlty rosponslble for dlrocting, contrL)Illng, running and opgratlng the charity on o day- trpday ba818 compr188 tho Trustees, the Artbsllc OirgGtor and Chlef Execullve and the ExOtIVe DlrectOT. Remun•ratSon poll¢y St8ff 8alarles Ilncludlng 59nlor man8gementl are revlaw&d annually as part of the budggting process. Consid9ralion Is glvgn lo th8 rale of inflation and benchmaiking across the sector. The charity has been a London Living Wage employer since April 2016. The Arti$llc Dlfgctor and Execullve Dlrector salarles are revièwed by the Board annually. A salary increas8 was applied July 2021 as the theatre fv-opened to full capacity and to reflect the rising cost of livlng.
ALMEIDA THEATRE COMPANY LIMThED TRUSTEES, REPORT {continuedl FOR THE YEAR ENDED 31 MARCH 2022 TIVE AND ACTniiTIES The TTltee3 and Senlor Management of Iho chatfjly are ¢ommltted to provldlno 8 publlc beneflt and have con51dored the Charlly Commlsslon's guidan¢9 In thi8 area. W& bèllave that produclng hlgh qu81ity, challenglng. engoglng work that would nol be provlded In a commerclal &nvlronmenl enhance¥ tho quallly of lifé of our audlencas as well as fo8lerlng an appreclauon of the arts in general and theatre in particular. By commissioning now work, w8 ar& creating a store of work that olh8r Ih6atr68 will be abl8 to rgvisit and developlng wdlars of the future. Our amblllon18 for our work lo b& seen by as wlde an audlence as posslblg.. Our objective8 Sncludg: bulldlng and dlverslfying the audience In line with the ovolvlng 8r11811c prouramme, and undertaklng aclivlty that en8ure6 th81 our 8tJdienc8 beller reflects the population offerlng opportun1119$ to engage audiences beyond Ilckel buyers, and curalg a cultur81 conversallon unlimited by our gèogTaphi¢al Ioc81Ion bullding a new audionce tor tho futsjre, In partlcul8r young peo9, and first-tlmo tho8tr• gow8 offerfng acce88 lo audlence8 from o wlde sodo-8contsmlc Tgng The Almoldo remaln5 Gomm1tt9d lo a tlckeling pollcy whlch balances Income largels wllh the ambSllon to gn8ure our work Is accessible. We commlt ID concessionary prtces to key groups of our audience, Includlng.. reduced prlclng for prevlow pgrformanc88 onces8ionary r8188 to groupg wSlh potgntlally ¢hall8nglng ¥oclo-economlc clrcumst8nces,' 8udlen¢e¥ wllh disablli1188, ovor 655, students, under 305 and pgrtner $chtt•ls workbng In areas ol hlgh dgprlvalion £5 tlckel scheme for 258 ond under Our work wllh young po¢)ple and tha communlty allows them to have access lo som8 of th8 most exclllng artl81 worklng In th8 industry. as participants and 88 audlences, We w8nl young people lo ask quèstlons about plays, about theatre, and about the worftl they Ilve In so that they can become artlsls in Iheif own right 8nd b0m9 audiences wllh a critical voSce and hlgh tr¥pe¢tations. We want to give children, young poopb, 8nd communbty 9roup8 8 volce, pa1Cul8Y th088 who aren't normally heard. The hlghly 8k111ed Partlclpatlon team Is dedlcatèd lo worklng wlth young pgoplg In partlcipalory projects, both Indlvldually and through Ihelr schools. Tha £5 tickets lor Ih08e ogod 25 and under continued during Ihe Ilmiled p8rfomian¢e programmo that the theatre was able lo present. Covld The 8rt181Ic programm8 and actlvlly for young people and communlly, havlng bèen sèverely curtalled due to Covid reslrlclions durin9 20121, Iransilioned through socially dislancad woduclion preBentation8 from April 2021 reluming to a full programme of work 8t full capacity from September. The pandemk bTought many and unexpectgd ¢h811gnggs ranging from maintaining finandal Stability, seeklng to malnlain contact and rel8lionshlps wlth our mambers and donors, conlinulng and pmvidlng for our relalonshbps with our artists when their livalihoods had b8en decimated, lo malnlaining and protecting tho wellbelng ol our staff. Thg Almelda has been supported throughout by the loyal dotermination of k8y donors and a vocal and supportivfr audlenc8 989&r for whatever the artistic programmg coukl d91fv9r log8th8r with government furf0h funding and Arts CouncillDCMS Cultural Recovery Funds.
ALMEIDA THEATRE COMPANY LIMITED TRUSTEES. REPORT Iconbnuedl FOR THE YEAR ENDED 31 MARCH 2022 MISSION AND STRATEGIC OBJECTIVES The Almeida brings together the most exciting artists to take risk8.' lo provoke, inspire and $urprfse our audSences,' lo inl6rrog818 th8 pre38nt, dSg up the past and imagin& the future. Whether new work or Teinvigoraled classics, whgth8r n our Ihgalre, on tour, online, or In sthools wo makg Ilve art lo exclle, enliven and enlert85n. We belleve in Ihg rgumenl for th•atro as an ossontlal counl8rb818nce lo an increasingly fragrnonled soclety. K•y ObJ•ctlv•• for 21122 ACE Inv••tm•nt Prln¢lpl•• Tha Amelda commltted lo the oulllne Investment prln¢lple3 as set OLTrt in the new strategy L•t'• Cr••t• the gnpos18 to whlch began Sn 21122 and the Truslees are commltted lo the Invoslmenl prfndp18s bèing 8mb8dded IhToughoul the Company lo on8ur8 th81 tho long8r-tomi Strategy can be embedded lurther throughout th& cornpany'y work. Actlon• IOT Chang• Actlons for Chang8 1$ the Alffida's rand 8tr8tegy for gquallly, Inclu81on, and dlver81ty 2021-2024. Durfng 2020 th8 comp8ny undertook gn In49plh revlew lo understand and 8radicala systems ond slructures whlch have perpelu81ed Inequallly. We recognlso Ih8r8 is much work lo be done bul we 8re committed lo chonge which wlll 8ee ug bgGomg tho Inclu81ve and divarse organlsallon we a8plre to bo. The ac15on plan covers four slr8t8glc area8 wllh cloar obledlv88 and naw robu81 targets for th8 next thre8 years lor artlstlc programmg, audl8nce dèv8kJprnenl, young people and c4)mmunlty. and people & culture. Our priority locus lor 21122 was to incre898 Black, Asian, and gthnlcally dlver8e repre8enlallon throughout the organl8allon and lo ernd tsjr Anll-Racl$l Poll and pbdgg8. Artlitlc Programm Tho art1811c programme responded to the govgmmenl guldelln88 8nd Indu8ty feslrictlons rolgvgnl Ihroughoul the perlod and 8n8bled us lo mainlain our commitmanl lo th& froelance communlty, to productions poslponad from 20121 and to the artl$ts who crealed that work, maximislng our fundraisSng polenllal glvon the limited operallon. And onabllng u8 lo m81nlaln relatlonshlps with our audl&nc8 and supporters. Audl•nM D•v•lopm•nt Durlng 21122 wo bogan to embed our new Actions for Change Audlgnce Dovelopmenl Stratègy while a150 6trivlng lo maxlmlse box offlce Sncome. We worked lo malntsln exl81ing customer relalionshlps and lo rebulld 8udlenc8 nfidonce followlng the impact of the pandemic alongsbde growlng our oudlence reAch through ngw channels and dlgltal 18chnolog1o¥, bulldlng on our recent 8uccess of our Iivg 6tream8 and wider dlgital pr(Jramrne. Young P•oph and Communlty Along wSlh fulfllllng the commilment to postponed prolods from 2020, Almelda Partidpatlon ¢onllnu•d trj ddlver a broad programme ol wor* priori11slng 3UPPOrt for young pgoplg and gmerging artis15 who have suffered during the pandèmle. In addllion to bulldlng new 8nd 8U8t8ln8ble partn8rshlp8 With Ioc81 communlty 9p9. Org•nl••tlon•l Sustainability Kèy objectives We to st8blllse tha economy of the charity glven the Impact ofthe pandemic whll8 driving forward wllh the artostic oblgctlves. to support Tenewed fundra181ng Inltlatlvo$. and to embed Adon8 for Change across the organisatbn.
ALMEIDA THEATRE COMPANY LIMrrED TRUSTEES, REPORT {continuedl FOR THE YEAR ENDED 31 MARCH 2022 MISSION AND STRATEGIC OBJECTIVES conllnued DÉLIVERING THE STRATEGIC 08JECTIVES 2021122 Bètwe8n April to August th8 productlons played to Ilmlled capaclty PK)us88 followlng govemmont guidonc8, Increasing to full audienc8 capacity ffom September. Tho pnjgrgmme oponod wilh a n8w dlgltal txperfence created by acclalm8d B8lglan theatre c¢Jmpany Ontro•r•nd Go•d who had prevlously porfomiod thelr aw8rd-wSnning productlon £¥É$ (LIES) Al th8 Almelda in 2018. TM by Alexander Devrfendt, Angelo Tilssens, Aurélle Lannoy. Karg11gn de Bleser & Samlr Veen. dlrected by Alexander Dgvrlèndt was m8d8 In collaboratlon wllh theatr88 from acr088 the world 88 a Ilv8 Intsractlve one-to-one expgrfer 8xplorlng medla rnanlwlalkx), popull81 Ideology and con8plracy Iheorle8. SIA Arll$ts lij SMr&li a Play yré8eiiled by Atri 8aii¥ilee, Ebonozer 8aii)gboye, Cl)èi¥elle Sk•et•. Nagtazla Domar8dzka, Anthony L8u, Audrey Shefflold. Eaoh artl¥l pr930nled a Soml rehaorsed readlng of a play from th8 global canon. r8presenUng Iheatrlcal cultures that have often been ovedooked by 8dllsh Ihealie. Th8 artl8ts also curated a programme ol ovenls around each play. ol1Sve mu$lc, danco, and pan81 dl8CUS$boll8. Th988 evènts war8 soclally dlstanc&d bul wor• 0180 recorded and mad8 available digitally. The playg wer8: Tho Dybbuk by S. An8ky, Th• God¥ Ar• Not To Bl•m• by Ola Rotlml, Dzl•dy/Fornf•thw¥ Ev• by Adam Mlckiewi¢z. Ml¢h•elXby Van&888 Wall8r8, NAAIE, PLACE. ANIMAL. THING by Anni Zaldl, ReIng On•,• S14t•rln tho Mnd and th• Dust by Guan Harqlng adapted by Amy Ng. •nd br•ath•... by Yoml Sode, dlreded by Mlr8nda Crornw811. A workl premlere centerlng on the1035 of a beloved malrlarch, explodng masoullnlly. famllial rglÈllon$hlps, and culturè. ThlB was p8rformed lo a 60clally dlstancgd audloncg with Ilve muslc by Feml Temowo. The producllon won Be81 Dlreclor, 8e81 Productlon, Best Male Actor and Begt MustC81 Director 81 th6 Black 8rkl$h Thealro Awards.
"powerful tale of famlly grfef 18 ky)elry In mollon. Th• Gu8rdl8n On¢• Upon • Tlm• In N•zl OGcupl•d Tunl$l• by Josh knouz, dlrected by Eleanor Rhode. A world preml8r8 about home, Identlty, and survlval, followSng four young peoplg under Nazl occupallon and tho cholces they mako. Thg productlon wa5 SUPPOrted by the Genesiy Foundation Ki¢kst8rt Fund. **** 'A d8zzllngty talented play. Indep8ndent Full capacity audienc8s'. The Tragedy olMi¢b•th by IM1118m Shakespeare. dlrected by Yaél Farber. The producllon was nomlnaled for Bast Rgvlval and Best Supportlng Actress al tho Olivber Awards and Akiya Henry won 8esl Supporbng Performer In a Female Identifying Role in a Play at the Wh81sOnStage Awards. Thlg was the flrst PToducb'on Io opgn to full capacity since the start of th8 pand8ml¢.
"An excepllonal productlon. YoLt won't want lo m18811' WhatsOnSt8g8 Sprlnq Awak•nlnq the muslcal wllh book and Iwic8 by Steven Saler and mu81c by Duncan Sholk, difeded by Rupert Goold. A now production of the Tony-award Mnnlng muslcal about a group of tognagers 5ilenc8d and controlled by a eensorlous soci&ty who discovar a n8w wortd of f•eling and fr&edom with dev88taling consequgnoes. The production was nominated for Best Musical Rewval al th8 Olivier and Stuart Thompson was nBmed Most Promislng Newcomer al the CrftIc8 Circl& Award8. This productlon was Supported ty the Ruddock Foundation lor Arts.
"I was bbwn away by the Almeida's ravival of Spnng Awakenin, rirne Out
ALMEIDA THEATRE COMPANY LIMrrED TRUSTEES, REPORT Iconlinuedl FOR THE YEAR ENOEO 31 MARCH 2022 DELIVERING THE STRATEGIC OBJECTIVES 2021122 (eonlnu8dl ARTIST C PROG ued Th• Chalrs by Eugen6 Ionesco. translated and directsd by Omar Elerian with Kathryn Hunter, Marcello Magnl and Toby Sedgwick. A new version of the absurdist play reimaglned for the present day= a fa0 that rnflects on o Ilfe Ilved log8lh8r, what has b8en, what mighl have been and what11 Bll really m8an8.
'Bdllanl buffoongry. The Telegraph Lost Orlgln pr8sanled at Hoxton Docks. W85 a collaboration bofvffjen Ihg Almelda and Immerslve pr¢duction comp8ny Factory42, 109other with the Sclence Mu8eum, Natural Hl81ory Museum. Sky. Maglc L8ap, and the University of Ex818r, to create an audience oXP9rt8ncg combinin9 liv8 pèrformance and mlx8d.rè81ily ts¢hnologig8. 11 was funded a8 Part of the IndustriBI Str8legy Chall8nge delivered by UK research & Innovallon IUKRII. Audlences lolned 8 n8rralive lourn8y through glghl diffgrenl 8peclally designed rooms In whl¢h Ih8y wore part of a 'misslon' lo Invesgate illégally Iraftlck8d dlnosaur bone8. L08t Orlgln w8J dlrocled by Danl Parr, the mekI•,$ Director of ParNClp8an.
'Imm8r81vo theatre do88n'l come much 8llcker than Ihl8' Whalsonslage In totsl, tho projeGt reach8d 60,000 8udlan¢8$ ond u8or8 In lots1'. 3.000 of whlch were on locallon and the remalnlng 57,000 of vthlch were onllno 8ndlor dlglt818udiènc8s. Produ¢tkJn8 for 22123 Indude.. "D•ddy"A Melodrnma by Jeremy O. Harris, dlr8ctad by Danya Taymor. The Europoan r8vivo1 of Jergmy O. H8rr18'S 88cond pl8y, a malodrama 881 In Bel Alr éboul a young Block artl$l 8nd hls rel8llon8hip wllh an oldgr wealthy whll8 art coll8Ctor Ihol gngages wllh the relallonshlp befven Intlmacy and ort. Th• Hou4• olSh•d•¥ by Belh Stoel, dlrected by Blanche Mclnlyro. A worfd premlere of Both Steo1'$ ngw play Ihal 8P8n8 flve decades In the lives and de8th8 01 the Wabslgr famlly set against the changing Induslrlal landscapè of a Work1ngl83s Brllaln. Thls play waB shortlisted lot th8 Susan Smlth 81ackbum Prize. P•trlot* by Peter Morgan. dirod•d by Rurt Goold. A worfd prembro of Peter Morgan's play about Russian bllll¢)na5re 8orl8 8er8zovsky'$ rf¥0 8nd fall In the wodd of polllics and h1$ posillon In placlng Pulln a8 presldent. The Cllnk by Dipo 88ruw&Etti. dirocted by Monique Touko. A world pramSare about acllvism and car• in thè Black communSty, about the huno8r for chango ané how to rise from the ashes of o broken workg.
ALMEIDA THEATRE COMPANY LIMITED TRUSTEES. REPORT Icontinuodj FOR THE YEAR ENDED 31 MARCH 2022 DELIVERING THE STRATEGIC OBJECTIVES Icontinuedl AUDIENCE DEVELOPMENT AND REACH r focus on audlence$ in 21122 began wlth bulldlng back Ir)-per80n audlances folloTrg the lockdown3 and closures that had limited us in the pr6vlous y8ar.11 wa8 es8enllal lo wethme audlencgs back safaly and bulld back ¢onfidenc8 In attendlng liva Ihaatra. A8 well a8 reactlvallng OUT r8lalSon8hlps wblh our exist5ng 8udlencgs and maxlmlslng box offi Incomo,11 w88 a prlorlty lo 8mbed our now Acuons for Change Audlence Development Strategy Into our plans lo develop naw ond more divarse audiences. We 8180 wentèd lo conllnu8 to m8xlm188 audlenco reach through now channolg and dlgltol Icohnologlos, bulldlng on the r&¢enl 8uccess of our programme of Ilvg glreams dgvgloped durlng Ikdown. Our oblectiV6$ Inclthje.. bulldlng and dlvèrsSfying thè audlonce In Ilne wllh the evolvlng artlsllc programme, and und8rtaklng SCIllY that en8ur86 that our audlence bettgr reflects Ihe communlty around u$ offorlng opportunltles lo gngage aud1•nS boyond tlckol buyor8, and curato a cultur81 convarsation unllmll8d by our 980graphical locallon bullding a naw oudience for the fvlure, In partlcular young peopl8, and fir81-Ilm6 theatre goerj offéring acc8s8 lo audlenc86 from a wlde soclo-economlc range W8 remalned ¢ommitt8d lo a lickellng pollcy whlch bal8nc8s Incorne largets w5th the ambitlon to on8ure our work l¥ acces8ible. Wo commlt to concg$$lonory prices to kay oroups of otsr audlence, Includlng: reduced prfclng for prevlew performanc98 concèssionory rates lo groups wllh polenllally challenglng 80cIo-economi¢ ¢lrGum$ton¢&$.' audlence8 wlth disabi1b11gs, ov8r 658, students. under 30s and partner school8 working in arèas of high depdvation Almeida for Free events alonu8ide every productlon. where 8 whole performon¢¢ and 8ddlllonal workshop8 and panol ovgnts wgro 9lvfjn lo those 25 and under for free £S Ud(618 for those 25 and undef Acr088 21122 we eng8ged over 187.000 p80plo wilh our work oithar in p8rson or via dlgital p18tforms. Th18 included.. 60,170 tickats sold lo physical audience8 al th& Ihealro, which was ov8r 93010 of ilckets available An 8slimaled 25,000 people who walch9d Iivg str¢am8d or recorded work online, whh Includgd digSlal 8lre8m$ of Ma¢b•th. and brneth•. . .. and SIX Artl$ts. An estimated 100,LXIO pe(wle who watched a livo recordln9 on Hymn on Sky Art8 1.778 people who altendod our Ilve inleraclive AR production Lo$t Orlgln, mada In portnership wllh Factory 42 120 people who attended Inleractlve onllne producllon TM, that was m8d8 In partnershlp wllh Onlroerènd Goed
ALMEIDA THEATRE COMPANY LIMrrED TRUSTEES, REPORT Iconllnuedl FOR THE YEAR ENDED 31 RCH 2022 DELIVERING THE STRATEGIC OBJECYIVES Iconbnuod UDIENCE DEV LookSng Into rrKr8 detsll at the demographlc8 of our 8udb&nca8, In partlcular thoso audierbces who wo engage through our work dlr8cUy Jckeled by the Almelda. we can 88& that we 8r8 reachlng d 8lgnffinI new audlence and we hav8 m8dg good progress on our AclSons for Chango tsrgots. We alm for at 18a81 a thlrd ol audlencè belng ngw lo the Almelda. Th18 year, lTrpgrson productions. achleved 41% new audienc98, hrtit'ng a peak on Sprlnq Aw•k•nlnq and Pla¢b•th, whero new bookgrs mado up 53% and 48% 01 tha total audlonce r08pect1ve- Our In-pgr80n audlences wem predomlnalely ba8gd In London olapproxlmalèly 75%. Includlng 160h from 1811ngton. 21% of the audlonce wa8 based acos$ the ro81 ol the UK and 5Yo came from outslde of the UK. Our Ilckelod Ilve and VOD 8tream8 havo halpod us lo re8ch slgnlflcanl now 8udlènceoer8 and axp8nd our reach. 74% oflh059 who booked for these h8d never beon to the Almgldo before- 3% of thls audlenc• was from Isllnglon, with 22% from the rosl of London. 33% from the rest of tho UK and 420A comlng from oulslde the UK. Our audlenc8$ were more gthnlcally dlv8r88 than In wevlou8 year8 and an Increa88 on our targét of 12%. On averag8 across our In-por50n theatre shows 14% of audlènce member5 Idonllfied 88 glthar Black, A81an. or from another ethnically dlvèrs& bockground. The most ethnically diverse productions were and br•th•... ond ltymn wherg audlenc88 from elhnlcally dSvorse backgrounds made up 30% and 22% of ¢h088 audience resp8Ctiv81y. Overall. we al80 altracted more youngèr audlonco8. An average of 13% of audlence$ wgrg under 25 - hlgh8r than our tsrgel of 6%. 22% of Sprlng Aw•k•ftlng audlenca was undor 25, and 50% undèr 35. We al$0 ongaged th 8udienc6s onlinè. through creatlng vld80 conlenl 10 8LlPPOrt Ihg work on 318g8. The88 n8W pleces of supportlng conlenl ranged from c881 InlervSgws to fllmed educallonal re80urces and w98 vSewed 372,000 Ilm88 acr088 the yèar. Our maln soc181 madla accounts have followers on Facebook.. 27,5001+0'/o on 201211 Twlller., 131,0001+3% 201211 and In81agram.' 49.000 1+28% 201211. ThiB year we havo also 8tart8d to engage wlth 8udlgn¢ps on TlkTok, the Almolda's channel now has around 17.500 follower8. RKI Our ml8slon for working with young peopl• h88 three goals.. lo develop dlver88 emèrglng artlBts and Ihoalre maker8 of all klnds. ¢re8llng wk of tho hlghest quality lo bulld a ro18llonshlp wllh local schools and communllle8 maklng our work aecesslble to dgv8k)p and iner6a¥g a young audlence at the Amelda theatre l our projects are freo to parilclpants, offeriro travel and food buwrfps for all projects to removo any barrfor8 that mlghl exist for young people to patlclpate. We work pMm8rlly w7lh the young people of Islington and its surroundlng boroughs. almlng for 50% of our rggular groups lo be made from particlpanls local to the Almeld8 ar&8. 10
ALMEIDA THEATRE COMPANY LIMITED TRUSTEES, REPORT Innuad) FOR THE YEAR ENDED 31 MARCH 2022 DELIVERING THE STRATEGIC OBJECTIVES Iconlinued) WORKI LE Iconllnued) During 2021122 we focu88d on three ar888 of work.. Is Our Young Company of 14-18-yoar-olds came logethgr lo stago tho audlo drama, As Wat•n Rl¥•, whlch they had cr881ed during lockdown. Our Young Company of 18.258 flnAlly stsd four performanc88 vl Ili¥li pl4y Tli¥ M¥l4dl¥¥ by Caiiiieii Nasi. al The YJ31'd Th6ali'e vthlch was dlro¢1od by Yasmin Ilafesll. We hekd slx Alm•lda For Free fesllval8 in 21122. commltllng lo one per producllon, glvlng away 1312 tlckels durtn9 th18 year lo young people, and runnlng masteTclasses and workshops 8longsld8 each production •nd brn•th•. . .', Hymn,. Onc• Upon a Tlme In N•zl O¢cupl•d Tunlsl•,' Th• Trjqedy ol M•cbolh., Sprlng Aw•k•nlng', ar Th• Ch•lrs. The Young Produc8r8 group programmgd a Young Artl$l$' fe$llv81 alongslde Macbeth, cur8llng a tskeov8r slago antl hostin9 gn aftor-show party, as well commlBsioning visual and Insta118tlon art 'eceS In the foyor. Our YoLbng Cfllics group conllnued to watch productions and wrllo reviews. Alongsla8 Hymn, we programmed two projgcts for young block people.. Brlnqlftg It Up- a podcast proleot where young pooplg aged 14-18 explored whal11 means to be black and Brllish In conversations wbth their family members.. and Anthom- a wrlllng project lor 45 young people. In whh 11 writers were eventually selectod lo rec8lve m6nlorino and fogdbgck from dramolurg Ola Anlma8hawun lo wrft8 lull len9th plays. Th88e were 8ta9od by nlnet88n Young Company member8 a3 part of Anthem Uve. Our A¢odomy group o15-14.yeaT-olds came logether In a partn8r8hlp prolocl wlth London Sue8n Academy to produce a film, in8pired by Carl Gros8'8 Garganlua. 37 childran performed in the film and LSA students fllmod, edKed, 8nd orowed Ihg film. Thar8 was a 8créenlng k*r famlly and frionds in S8pt8mbgr School• Wé conllnued our schools, partn8rshSps, workln9 wlth nina partngr 8¢hool8, glvlng away 629 Ilck9tB to pToductlon8 acr088 tho y08r and ran workshops for ovèr 2SO school chlldren Our project Unmule All worklng wllh 8evonty stsjdenls and len profe881on818rtS$t8 who worked across four local schools to create twelve now Spoken word pieces. W8 inilialod spoci81 educatlonal nood$ partngrship$ with fv40 local SEND 8choolJ In1811ngton. Whe we ran olghl wottshops and creal8d a work experience attachment for one of the $bJdenls We ael up the prlmory $oh¢x¢l youth th881re hub8, working wllh 63 chlldren across thlrty work8hop8 C¢)mmunlty Eighty m8mb&rs of the local communlty agod between 16 and 96, camo loggther lo créate our nlne Keyworf(8rs Cycle plays through Wofkshops and rehearsals culmlnoung In a weekend of performance8 in the Alm8lda Theatre. We worked in partngrshlp wllh local organisation All Change who we will have an ongoing relationship with, and with Clean Brk and Graea8, working with their partlclpants on the prole¢l. We have continued lo work wlll7 our Youth Advisory Board of 9 young peoplo, looking al strategy, programming, and our Actlons foi Change work.
ALMEIDA THEATRE COMPANY LIMITED TRUSTEES, REPORT l¢onllnuedl FOR THE YEAR ENDED 31 MARCH 2021 DEUVERING THE STRATEGIC OBJECTIVES Iconllnuedl DEVELOPING AND N ALENT Tho Am8ida develops dlverse young talanl through Assl818nl Dlr8Ctor opportunllies. Ihrough our work wlth yOLtng peoplo and through our writers. programme. We 8UPF<rtèd flve A$813tsnl Dlrector8 acr088 the 81x m#ln Shows during 21122.. Ewa Dlna l&nd broathe...), Sepy Bagha&l (Once Upon A rim8 In Nozl Occupl8d Tunlsl81, Ya$min Hafgsji IM8cb8lhl. Priya P81el Appleby Ispring Awakening) and Nastazla Domar8dzka {TlJo Chalrsj. These po8lb'onB were salarled posts pald In Ilne wlth the prevalllng UK Theatre l Equlty rates. Ya8mln Hafesll subsgquenlly dir8ct8d Th& M•ldl•s for tho Young Company laklng a furth8r opportunity lo develop her 8k1118 as dlr¢ctor. W8 conbnued lo support the wrllers under commlsslon as part of the Genesis Now wrlie Progr8mme, whlch alms to nurturè em¢rglnglmld-c8reer wrtter8, parucularty tho$8 from underryrepresenled backgrounds, movSng ma81orc188888 onllne due to tho pandemlc, and glvlno dramaturglcol support lo the d8v8lopmènl of their play8. The 8econd year of this program began in December 2021. The wfilers for Ihls y8ar are Ava Plckell, Josh EllS0tt, Um N8d8-Ralah, Mlcha81 John O'Neill, Sid Sagar, Eno Mfon, and Molly Taylor. Th8y havg hatj a Serles of m88tercl88388 from InduBty leaders such a8 Mlkè 88rt1gtt and Lollta Chakrabartl. Meanwhile. writers from the origSnal Cohort have bogun lo dellvor Iholr plays and wlll recelv8 drnmaturglcal support a8 w811 As workshop and readlng Ilmt with professional actors to help develop IheSr ido0S. We are a180 commlttod to conllnulng our relallon8hlps wllh wrller6 who have worked at th& Almèld8 alroady. Lollla Chakr&barti ond Josh A20uz are bolh re•commls8ioned. Young Black Brllsh pl8ywrlghl, Dlpo BaruwaEttI w08 attached to Iha Alm8lda Theatre a8 rosldènt plOYb¥rlghl under the Channel 4 Playwrfghllng Scheme In 20121. H8 attended rehearsals for Daddy before lockdown, lolned Ihg wrlling maslerclasso8 dellvgred as p8rt of the G8n&si$ programm8 anil road and discu8s•d scripts under considerallon by the Ihgalro 99 part of h18 development. Durfng hls attachment to the Almaldo Dlpo wrolo Th• cllnk lch ha8 bean programfflgd for the 22123 88a80n. Our programmè of work wllh young people 18 key lo d81iverlng the company's overall oblodves and our commitment lo the development of dlverse lalenl pl8y8 a centrgl rol8 In 8UPPOrtlng the artlslic programme. The partlclpallon loam r8n a series of workshops- Anth•m -. led by OLq Anlmashawun. for young BIAck writers. In r&8pon89 to Hymn which culminated In a 8howcaag al tho theatre. 12
ALMEIDA THEATRE COMPANY LIMED TRUSTEES, REPORT Icontinu8dl FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT- ORGANISATIOMAL RESILIENCE Gov•man¢• The Board of Trusl8es whlch m881s quarterly, or more frequently as requlrod. and tsk95 an acuva rolè In supportlng the Executive, in d&veloplng relatlonships with key stakghold8rs and potential donors, and advocating lor th8 Almèida in th& wlder Industry. Board sub-commltte68'. The Flnance Commltta8 meets quartorly lo rgvlew the monthly managomonl acts)unts, aud6ted accounts, annual budgol r8vlew$ and reports to the full Board The EquBllly, Dlverslly, and Incluslon IEDII Commlttee fomwd In 2020 works wlth tho Exo¢ulive Ind 8ènlor management to oversee and guide the companls ren8W8d plans for Equo11ty, Dlver811y. and Incluslon - Actlons for Change. This commllmenl and kgy polidos Is now writtèn Into the company'8 core values. The statomonts of intent and plans are sèl out In our new Acllons for Change 8tralegy whlch we wlll uso to mak6 meanlngful chang6 acro85 th8 organl$aUon and hold our8etve$ lo 8ccount Two Trustees co-chalr the Development Councll cf Independent 8UPPOrters whlch help8 ¢Jrfve fiJndral¥lng and one Trustee is a membar ol the company's Green Toam driving the stralogy for environmental suslHinability. Workfor¢• The senlor m8n8g8mentt8am represents the key slral8glc ar8ay of feypon8lblllty 8cr088the organlsallon- operotoons & g&nero1 management, flnanco, production, mark&llng & comm8, partlcipation, fundrolsing 8nd artistic plannlng. It m&e18 with the Artl8llc and Execullvo Dlr8Glors weekly and undorplns tho 8lr#leglc de¢18i¢Jn4naklng. Ropr88anl81fv88 of the aenlor monagemenl and the Almelda Youth Board loln allarnate EDI Commlltee mellng8. The rolg and con81ituents ol both the Equality and Acc668 teams is currently under revlew 8S Port ol thè company, slranglhgned commitment lo Improve represenlallon, dlyerslly. equallly, anty IrlUSIOn throughout thè Organ18a0n. The full company ha8 P8rOclpaled Sn anll-racl¥m training vthich hos been led by Inc Art8 UK. JI k8y pollcles wère roviewed and updatèd In Augu812021 Includlng an Equallly Impoct a88088ménl. All 81aff have comprehensive induction Including GDPR, Health and Sal8ty & kay polld88 Includlng Conduct and R8speGI, Antl- Racism, whlsl1e0wIng, and the Siaff Handbook. During the year the company has benefftgd from on8 pold inlgmshlp within the Particlpallon team and offers entry level rolas General Management, Portlcipalien and Markellng. 811 of whlch are paid London Llvlng W8ge. We are proud that Bs In the pa8t. staff from these roles have progr888ed lo more senlor roles In tho wlder industry. Tralnlng forthe Staff team has Included Anll-raGl¥m. Flr5tAld and AAT laccounUng}. Hèalth & Safety, and Flre Warden trainlng. The Goner81 Manager joln8d lh8 company In Octor 2022 Since when tho b881c HR, and Health & Safety procedurès hava been through a period of review, 13
ALMEIDA THEATRE COMPANY LIMrrED TRUSTEES. REPORT Iconlinuedl FOR THE YEAR ENDED 31 MARCH 2022 TRATEGIC REPORT- ORGANISATIONAL RESILIENCE Iconllnued) Fundralslng Total fundroising InrA)me for the year 21122 was £ 1.960,160 agaSnsl a budgel of £1,955,233 Whlle raopenlng lo full capaclty In Septfjmbor 2021 allowed the company lo r9-gO98 wllh. culllvate and 8l&ward support6rs, the ch811gnoes of tho pandemic contlnued lo Impact lundralsSng due to reslrlctions around face-1o-18ce aclivlknès, tho rt88 of the Omicron v8r5ant, the C8nc8llaUon of pgrformances and the Inablllly lo dallvar activity wlth merglng 8rt1818 and young p8wIe. Our docado-long Prlnclpal Partnarshlp ¥th Aswn wllh a partner8hlp value of £375k per annum gndod In July 2021. The planned 8ightegn-m¢mlh programme of cu'Vall0n activity from Jonuary 2020 to secure a replacement partn8r was 8lgnfflcanlly curtalled by Covld and we contlnue lo 386k a replaGom¢nl equlvalonl lo replace the1089 01 £375k Income por annum. though 8 ch811englng y84r, thore were p08111ve devebpments In 2021. Wo secur&d an unrestricted grnnl of £88k from Bank of Amerfca's corporate foundation to 9UPPOrt the Almeida In 8chievlng Ils plans lo Improve r8pr8senlallon, addr8$8 Iwuallty, and accelèratè chonge across the four keys arè88 of the comp8ny'8 Equo11ty, Dlver811y and In¢lu8lon programm8 and £25k from the Cockayn8 Foundation lowards the remount of "Dèddy.. We m8de a 8ucces8ful application to Bloomberg Phi18nthropi88 for thé naw Cultural AcceLgralor programme of £150k lo dovelop our slraloglc goals through enhonced technology and dlgltal Infra8lruclure. Additlonally, we received mulli-year pbdges lor major g5ft8, amounllng to £180k ovgr the next throe yoar8. Momb8rshSp rgoruSlmenl dudng 21122 wa8 one of the mo81 succ888ful In th8 Almo0,3 history, wtth 4,467 naw and renewing m8mb8rs amounllng lo £761 k In n&t revenue. In p8rtlcular, the autumn recruSlmenl PeTlod provldad unprecedented demand due to $18r cgStSng In Tho Tragedy of Macb91h, wllh m9mbershlp sales foi October 2021 balng the high891 on record. Further lo thi¥. MoMrShIp iet8nllon for 21122 aveiaged 79% gnd the announc8mont ol the r9-onIng programmo In May 2021 prompted 8 28q/o growth In Memb8r8hlps. Re-op8ning whh a Strong artl¥llc programme provld•(i an opwrtunlty to wolcoma 8upport8r8 back lo the thèatre wllh a new und8rstandlng ol the part they had played In the Almelda'8 8uNSval. We wlll conllnue to deliver thi8 mes8aga In thè coming financlal ya8r8, as we look to rebulld our fundr818ed Income. with thg arrlval of a new Devebpment Dlreclor In June 2022 the current Slruclurg of a dgdScatgd team ol lour wlll revigwed to ensure thal post-covld 8 ren8w8d and robust fundra181ng slralegy Ban be d8liv8red. Tho Dovelt)pmenl DSreclor report8 to Ihg Exe¢Ltrllve DSreclor and 18 8 membèr of the Senlor Management team and the Devolopmgnt te8m1s rosponslble for fundraising wllh approprlate overslghl and guidance from the Trusleg8. The tsam keep9 abr&ast of. and complle8 vAlh, 811 current fundralslng and data prolection Iggislalion ond wlll ensure all lulure requlromenls are adopted and adh8red to. No Instances of non-wmplSance have been identifEd during th• ygar, 14
ALMEIDA THEATRE COMPANY LIMrrED TRUSTEES, REPORT {conllnuedl FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT. ORGANISATIONAL RE31LIENCE {continuedl Fundr•l•lng ¢ontlnuod The Amelda Is regi8lored th the Fundr8lslng Regulator and adh8re8 10 118 Code of Fundralsing Praotlce and Fundraisin9 Promise. No complaints hav8 ba8n r8c8iv8d in r8lalSon lo fundraising activity thls year. Should any complaSnls be received. we wlll respond Indlvldually and In a Ilmely manner. Wè wlll u88 feedback and complalnts to Inlom and Inllu8n¢8 OLsr appro8¢h to lundralslng. We alm to conduct our fundralslng aclivllieswllh Snlegrty. openn8ss, and accounlablllty. 8nd to Bdh8r8 to the Almelda's wider organlsalional alms, Our ethlcal fiJndra181ng pollcy provlfl88 delailed guidance for th8 Devekjpmenl team #nd other colleagues engaged wllh our fundral8lng. Thg Amelda dog8 not use profe8slonal Ihlrd part198 Qr oommgrclal partlGlpatorn to lundro590 on our b6hAlf. Th8 fundraislng focus Is on developlng relallonships wllh companle8, charitabl8 trusts and indlvlduals who 8r8 int8r8slad In our work. The Almèld8 encourag88 dOnaOn8 from those visiting Iho theatre and engaglng wlth our work onllne. We do not run telephone Gompalgns and are 8en3lllve In our gpproaGh lo1ggarAgB. We are con8clous of mlnlml8lng th& costs of fundraislng and wg benchmark our dlfferenl fundral$lng channel8 10 en$ure they arg compgtillvg. We work hard to en8ur8 we d8liver value for mon8y In all our charitabl8 8Ctivitles. Fln•nclal rn8lll•nc• The Almelda 1$ groleful to tho Iru8lB. foundallon8 and indlvldu8ls who have provlded support both durlng our Covld closure and since iewopening and we wlll conllnue lo dfjen roLqtlonshlps wlth 8UPPOrtors, many of whom gavè to the theatre ft>r the fiisl 1Sme In 21122. Looklng lo the future, the on-golng 8U8181nablllty of ourfundral8lno progr8mme wlll be rdlanl on a fully opeTOtlonal le8m in plaLe lo rtlbume Lullivallon, 81rong sleward$hSp for which the Alm8ida is known, and taking advantage of opportunllles lo further generate trust & foundation incomè. This 18 In addillon lo the continued strong and commlttad othsllc programmlng. alongsldè prolecl8 and programme8 foremerglng artl818 and young peoplo whlch provlde a hook for funding opportunlll8s. Durfng th8 last twolve months the charity performed well generaling a small trading Surplus 01 £38,815 (excluding rèslricled funds) agaln818 budgeted deficll of £86,266. The consolldaled accoun18 Show a da¢11 of £248,188.. Th18 deficit wa8 funded as planned, by our r8slrl¢ted and dgslgnaled resgrve funds gel aslde at the end of 20121 for projects whlch wern postponed duè to the 2020 wlnter lockdown,. Six Artists, Tha Key Workarn Cyclo gnd The M81odigS. The charily'g accounng procedures have conllnugd to enable rfg¢you8 and buoyant accounlabllty. e3cla11Y durlng the pand8mlo when declsSon making wos challenging. Stricl controls were inlroduced lo make saving8 8¢ross the organisallon and mlnlrnise losses in the year. The budget and accounts were updated and monllored monthly al Board meetin95 during the pandemic and conllnued to be monllored t)n a quarterly b881s going forward. Theatre Tax Rellef ITTRI continues lo be clalmed vla tho subsidiary Almebda Productions adding 8 valuable Income strèam to the thaalre's 8conomy In the region of £350,000 per annum Inon-covid ye8rl. Durlng 21122, the rate of TTR increased from 200A lo 45% for productions produced aft8r October, the company produ¢ed nine main house productions and four p8rticip8lion shows rasulling in TTR of £544,612. W& conllnue to develop stralegSes to generate additional incomè from inlèmal revènue 80urc88 during non<ovid years. Net revenue generated from proparty rental was £64k, a 8m8118Ufplus of £30k was generated by anclllary sales in cal8riro and front of house120121- nil). 15
ALMEIDA THEATRE COMPANY LIMrrED TRUSTEES. REPORT Iconllnuedl FOR THE YEAR ENDEO 31 MARCH 2022 STRATEGIC REPORT- ORGANISATIONAL RESILIENCE Iconlinu8dl Fln*Trc• {conllnuodl The resylts f 21122 demonslrale that tho financ181 mod81s, cost cLJnlrols and monltorlng ar• contlnuing to have 3 poshSve eff8d on man8glng finances, Exp8ndllur8 was well manag8d with overhoads departmentsl budgot$ 5% over budget du8 lo an Increase In utlllty QO8ts. The catering company reoumed Iradlng In May 2021 to • sociolty dislancod au(118nce. From Oclobgr the company opor81od at full capaclty and ré8umed galgs of programm88 and M0handl8e. Box Off0 incom& was down $9% comparad lo a normal year1£1.4m comp8r8d 10 £2.5ml. However naw income 8lream8 from Ilve 81raamln9 and dlgltsl d¢)wnload8 geneialgd £190k. There was no olhar production Income from ¢ommerclal explollallon Ihls yèar. The 22123 budg61 prèsonled lo the Board rèllect8 a hjll yaarfs prTrJramme of 88v8n pToductlon8. We anJcSpalo no ovld r9strtIonS and operaung al full capadty. The box officelorgel has bgen budgelod al an averag& 83% capacSty 16 £2.85m. Budgoled exp8ndllur• #how8 an Sn¢reaso of artsjnd 5% ¢omparod to 19120. Su•tslnablllty Suslalnablltty r8m81na ¢oro to the organl8allon's operalionBI delivery and future planning. The Almelda was 8wardad flv8 Stars by Jull8'8 81cycl8'8 Creatlve Gr88n scheme and won th8 Aword for 8&81 Cultur81 Venu8 lorefforts lo Improve sustainabilily across the organiln In 18119,. tho company was rbornlnatod for the Hlgh881 Achlèvémont for Commllment Award In 2020. A new polty {2022 to 20281 wlth $upporUng Acllon plan outllnes ouf 8tr019gy and actlvlty for the next four yoar8. Su8laln8blllty contlnugs lo be g 818t)dlng agenda Item ot fortnlghlly Operallons meetlngs. dl$cus8lon8 18k8 placa al dopartmen18118am m8elings ond updates a presented to senior management and th8 Board of Truste88 as pproprfale. The Green team conllnu95 to meet blmonlhly. Both 8lle8 conllnue lo operole on 1 OOV• green electrlcity tarlfts demonslrallng an ongoing ¢ommllment to su8talnabl8 anergy. Durfng th& year our plans Included a s%t¢h from gas c8ntr81 h88ting lo h881 pumps at 1081r8hoar$al room8 linsialled May 20221., wo inv081igaled the SnslBltiDn of solar panels., conducted oondillons 6urvey8 of both buildings In ordèr to devlse a 5tr8tsgy for repalrs and r8ngwals wlth envlronmental sustalnabllty al Ihe heart of our dèclslon making. The Almeida Catering Company is commltted to u8ing local suppligrs whgrever po88lbl& and h88 $tche1j to new supplièrs whose eihos Is to focus on environm•nlBlly sustainable practices. We keep our menu compact lo avdd food wastage wlth Wthlrds ofthe menu belng plant-bo¥ed. During the year we have focussed best praclice for ihe productions based on recomm8ndalion8 of the Theatre Gr8gn book. All malerfals used for sets. c08tumè8. props are recorded 11sng source. and whether thoy ar& reused, recycled or rotained following closure of the productton. 21122 is 8 benchmark yoar to infom slralegles Bnd ES targ8ts for the fuluia. Repr8senlalives from th8 Alm8lda hava begun carbon Illeracy Ir8lning and regularty attend events wlth peer organ1$aOn$1ag. NT Theatre Green Book best practlce and the Theatre's Tru81 Conference). 16
ALMEIDA THEATRE COMPANY LIMrrED TRUSTEES. REPORT {conllnuedl FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT- ORGANISATIONAL RESILIENGE {contlnuedl Pr•ml$•• Work conllnu&s wllh the programm8 of maintenance and repair for both 108 Upr Slr8818nd the AlmOa Thoatro. Kgy Malntenon durSno the yèar has Included Str881 level handralls lo the clrcle steps al the theatre, replacemènt floor for the café baf and air handling units addod to tho rehearsal room and offices. Condlllon8 ¥urveys for 108 Bnd 109 Upper Slroet and the Mmolda Ihealro wero commlssjoned, and whlth VAII result In a revl8ed programmè of malnt8nance and rapak going fonvard. ¢ovld.19 Covld-19 coned to Impact the arti$ll¢ programmè and financés of th8 Almelda $4nc8 March 2020. Since 80C181 distancing was lifted In the autumn 8nd gov8rnm8nl guldance w98 rekqxed. there has rKJnllnuad to be lost réhéarsals and pethmance8 due to the vlw8 $W8eplng through thg companle8. Whila 8xp8ndilur6 was Increa88d on Macbeth and Sprlng Aw8kenlng to c•rry Some Ilmllgd undor$tudy cov8r on the producllony, nev8rthel888 5 rehgarsal days. and 20 rfOrMnCe& were lost over thè two productlons re8ultkng In £90k108t Income. Incomè gtrnèraled from Box office saw a 59% redu¢ilon due to Covid-19 rnslrfcllon8. WO r8celv6d fundlng support of £574k from the DCMS Cultural R8covary Fund for the podod Aprll 21- January 2022, plus £144k furlough grant for Aprtl- May 2021 whllst the Ihealr8 was 81111 ck)$gd. Ev•nt• •lnc• th• year •nd Thor8 hav8 beon no other SIgnlCant events lo report be68 the balanco 8h8•1 dalè and the date of Ihl$ rowt. 17
ALMEIDA THEATRE COMPANY LIMITED TRU8TEE8' REPORT Iconllnued) FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT- FINANCIAL REVIEW Flnn¢ll P•rlorman Tho Consolldaled Slatemènl ol Flnancl81 Actlvlll88 ISOFAI shows tho extent of and movement in, all charftsblè funds, differents'atlng b890n re8ldct8d funds Imonlas provlded fer 8pèdfl¢ purposes) and unreslrfcted bjnds {monles whlch Can be applied to any charitAbl8 purposes wlthin tha organi8alK)n's obi8Ctlv8$1. Unrgslrlcted funds Includg funds deSnated by th6 Trusiees for spocffjc lulure Investment in thg organlsatlon. Tha total funds 8131 March 2022 ar8 É6.045,036 Inel a88818I12021.. £6,293,224) of whlch £3,804.2021$ rgpresenled by fixèd ass813 Such as buildings and equlpmanl (2021.. £3,964,617). Total group Income lor Ihg year was £6,395,065 12021., £3,927,070). Our main sour¢e8 of Incomè included liGkel sales and othèr 8udlènce Incom8 whlch was £1.777.213 12021.. £458,411), thé Art$ Gouncil rev8nue gr8nl of £686.552.12021.' £687,933) and prfvale fundrnlslng and 8ponsor8hlp of £1.960.180,12021: £1.094.8291. Expondllure In the y8arwa8 £6,643,25312021.' £3,525,839). ExpeThJllur8 on charllab18 OCtMlle8 Included productlons £2.444.040, 98larle8 and ov8rhèad$ £3,679,827, and the C081 of ral$lng funds was £519,386. Reslricled expendllurg 01 £537,300 related to £163,889 d8preclatson and £373,411 lor young artfj8ls'. partlclpalion prolfjGts and the Lost Orlglns prolecl. Thg Ghorlly mado a1088 of£248,18812021'. 8urplu8 of £401,231). In real1orm8 thè company made a 8mall unre81dctod gurplus of £36,815. £267,341 of dèsignated funds and £121,114 r8$tri¢led fvnds Iheld In rfjserves} wgre u88d lo 8LlPPOrt artlstic prograrnmo a¢llvilles p081poned In 2020121 du8 10 thè pArKlern. Sub8ldl•rl•• melda Theatre Cal8rlng Ltd. Is a whdly ownèd $ub8kllary of tho charlly. Its prtmary acllvlty 18 tho of food and drlnk al tho theatre to the audioncg and other cu81omers. The company'8 tumovar In the year was £247,$8412021'. £8,868) madg o profit In the year of £3,88612021.'1oss of £4,951). Almelda Productlons Ltd IJ o subsSdl8ry of Alrnelda Theatre Calèrln9 Ltd. Durfng the year the company was cornmSsslon8d by th8 Charity to produce its producllons. Its lumovor wa8 £2,885,895 and after theatre lax relief rec81vabb of £544,612 It made no profft or1088 for the year. Further deta118 of lh8 subsldl•des are glven In nolo 13 to the fln8nclal 8ts1ements. Inv•4tm•nt Polley A$ funds are prim8rf1y held for expendllur8 In the fores88oble future, ratherlhan as inve$lment8 (see Ros8rve$ Pollcyl, they are hgkl in cash deposits th UK hlgh streel banks. These depo8lt8 are hold In Int8rost b&8rlng accounts. 18
ALMEIDA THEATRE COMPANY LIMITED TRUSTEES. REPORT {¢onlinuedl FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT. FIMANCIAL REVIEW (continu) Rg•fjrvgJ Polley Obj8ctive8.. Tts onsure wa arè properfy re8ervéd on an approprfats ba818 for an organ18alon wllh our rl8k, bus188 and cr&alive profile. 1118 tho policy of Iho Trustees for thg oharity.. To hold a rnainlonance and repair résarve for unforeseen Ihealre building, plant and èquipmgnl r8pairs. To hnld A pmpArty rèsArve for investment in prof&s51onal fees lor work lo redevelop the 1081109 Upper Street slts. To hold a r8seTve for Art1811¢ acllvlly, £295,000 wgs d88lgnalad lo cover the cost of po8lpon8d 8howg due to thè pandemic, £27,659 romalnod al the end of the y8ar to 8UPPOrt a participallon produciion staged In April 22. 8 furth8r £155,000 was designaltrd lo support artlslic and p9c1P8110n work. To hold fwe reserve8 Ilhe operatlng re$otVo101 £900.500 to cover the maln tyJJlne88 Interrupllon rlsks to rev•nuo8 a6 Id8nlllled In the Rl8k Regisl•r lupdal•d 2U221. The Tru8lee8 conducted a detailed rev1 of Ihalr rn88rve8 pollcy durlng tha yèar. Flnan¢l•l Po•ltlon At the balance 8hg91 dale, Ihg group had total fvnds of £6,045,036 compr181ng roslrlct•d fund8 of £2,629,807 and unreolrtctad rès8iwa8 of £3,415,229. R••trlct•d Fund• R881rlctod Fund8 repr•sgnl grant$ ond donatlon8 receivéd towards Spadflc productlon8 or olh•r actlvltles. Q52,297 rèslrlcled lunding w8s recolved Sn thè ygar. Expendrture comprlses producllon g¥pendllure 88 well as dèpreciation on tho refurblshod theatre and Arts Council funded oqulpment. A more dotailed gn8lysis is givan in note 17 to Ihe lin8nGial statements. unr••tr1ct Fund• These represent the operatlonal Incorr& of Ihg chaiity18g.liGk81 sale$. loudng Incom&, anclllary sales>. as well as grants and donallon8 Iow8rds the 8cUvi1185 of the charity. Unreslrtcted funds Include ianglble flxed 88sels of £1,46B,532 whlch are not av8118bl8 lo m8•t 8xp8ndhur8 and not current 0859ts of £1,946,697 whlch induije the following dgslgnal8d reserves.. 1. Malnlgnance rese 2. Property reserve 3. Artisllc Acllvhl8s r8sarve £160,000 £400.000 £182,659 19
ALMEIDA ThEATrE COMPANY LIMITED TRUSTEES, REPORT (continu¥dl FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT- FINANCIAL REVIEW Iconllnuedl Flnanclal Po•ltk•n IContlnu•dl The group hehj frog rosgrves al th8 year4nd of £1.204,038. Arthough, th1818 greaterlhan tha amount rocomm8nded by tho r88eNe8 pollcy. the TTU8te88 feel1118 approprfate due lo uncertolnty around ACE Fundlng and th& chollenglng oconomlc envlronment. Therefore. th6 Tru8l¢&s are 88ti8fi8d that sufflcienl r&g8rv88 w8rg held al the year end lo me&1 the charity'8 r8quiremenls for Ihg 11rng b8lng, and wllh future 8upport of the charSty's grant alding bodles and privat8 donors, aim8 lo pr888rve, 8nd whère possiblo, inereaso tha sources of re58rv8s lo mael 8ny unoxpecled calls on lund8 that may ad88 in the future Inclu(Jing IhoBe a88ockgted wlth the risks and urKortalnll08 oulllned bolow. In a8s8881ng whethèr the golng conc8m 888umptlon 1$ 8pproprfate, tho TN8lee8 have taken occounl ol.. Ihg currenl fundlng 8gregment wllh Arts Councll England up lo March 2023 and the cuTh•nl18vel of unrostdcted r•seNès and cash balanc88. Therefore, the Trust8¢$ of the charity have concluded that there aro no matsrlal uncert8lnllèg reloled lo events or conditions th81 may ca81 significant doubl on Ihg ablllly of th• Charlty lo conllnu9 as a golng concem. The TTUBtg08 arè of thé opinlon that the charlty wlll havè sufnclenl r8$ourc88 to m8&1 118 liabilllles as th8y fall due. PRINCIPAL R13K8 AND UNCERTAINTIES Tho Rlsk Regislor 1$ rovlgwed by th8 Sonlor Managemant Team and updated onca a year (and more frequently a8 necessaryl. The current i18k r8gl$ler wll bo reviewed by thè Financg Commlttge and Board In the Gourne of the year. Prlnclpal rl#k• and unc•rtalntlo• lof th• Chlrlty •r• outlln•d u lollow•: Prop•rty The long-torm Condon of the Upr Streèt ¥+tg and th8 11mll work$po¢e for the development of the arl811¢ programm8 and work for young people. Work to 4ddr•$8 th18 rt8k Is ongolng 8nd thbro Is an acllve programme ol malntenanc8 and repair. Fln*nelal Rollance on ach16vlng fundral8lng aTrd 8pon80r8hlp targ81$ year on year. Durlng 2021122. the Development CounGil was redlrected In 11$ ¢onlinu¢¢J Support to lundrab81ng efforts. m8klng Inlroductlons lo IndivSduals ènd wospethve companles th potenli8110 8UPPOrt the Ihgalre. Supporters in our close notsfk Continue to act Informally as advocal88 for our work. The board and the wlder company are kept up lo dole on our fundraising activity and progress against lundraising targets, with the boBrd and executlva SUPPOrtlng the Development team In their approachos to prospecllv8 funders. Th• Olrector of Development reports to the Finance Committee and lo thg Board on a quarterly basis where targets and achlevements are addre88ed. Art8 Councll current fLbndlng oxlend8 throuoh lo March 2023. All NaOnal Portfolio Organisations havg submitted plans for the next funding perSod 2023-2026 the results of the appll¢allon$ wlll be notlfled In October 2022. For those companles who 8re unsuccessful there Is a translllon fvndlng programme avallable. 20
ALMEIDA THEATRE COMPANY UMrrED TRUSTEES, REPORT (continu8dl FOR THE YEAR ENDED 31 MARCH 2022 STRATEGIC REPORT- PR114CIPAL RISK8 AND UNCERTAINTIES Iconllnuedl Health and Saf•ty Rlsks lo Ihg Hoalth and Safety of staff, ¢mpany and audloncos are managed by thg 50nlor management tsam arKi speclffically by the Opralion8 Director. The General Monager reports to the EXecUve Dlrector and Artl8llc Dlrectorlchlof ExoGutSve on all Health and Safety matter8. Rlsk as3es8men16 org cardod out ftjr all productlon8. acllvSlles, and 8peclal evonts. Separate flre rlsk 0s8e88menl$ h8vo been undertakèn for both slte$. Regular Health and Safety commllto? meellng8 Bro held to raview accidents. incAdents, monllor policy and r8vl8w procedure8. 8TATeMENT OF TRU8TEE8' RE8PON8IBILITIE8 The Trustogs Iwho ar8 also dlrectors of Amoida The8tre Comp8ny Llmiled for the purpos88 of company lawl aro responsible for preparing the Tru8lee8' Report and fln8n¢l81 $101gmgnly In occordance wblh appllcable law and Unilod Klngdom Accounllng S18nd8rd8 IUnll8d Klngdom Generally Accepted Accounllng Pr8Ctlcel. Company law r8qulr88 tho Tru8t888 lo preparo fin8nclal st81gmgnls for Oach financlal yèar whkh glve a true vjnd f•lr VI of the st81e of 8ffalrs ol the charftable company and tho group and of the Income and expendllur9 of tha group for that pgrlod. In preparfng th880 flnanclal statements. th8 Tru$l*es arè rogulrod lo: lecl Sultab accounting pollci&i% and thon apply Iham conslsl8nlty,' observe Ihg method8 and prin(iple$ in Accounting and Repofilng by Gharllles.. Stalfjmanl of Recommended Prathce oppllcable lo chadlles prepartng thelr Becounls In accordanca wllh the Flnanclal Reportlng Standard appllcable In th8 UK and Republlc of Ir8land IFRS 1021., moko judgamenls and esllm818s that are reasonable and prudent., si81è wholher appllcable United Kingdom Accounting Standards have bgon follow•d. subject lo any matertal d•pgrturos disclosed and explained th¥ financiol stalemants.. and prepare the fSnanclal slalements on 8 golrvJ Goncorn ba¥ls unlè$s il Is Inapproprfale to pre8um8 that tho charitabla company wlll connUe In operetion. Thè Trus1è88 are responslblg f¢x kegplng ad9quate accounting records that disclose with reason8ble accuT8Cy al any lime the flnandal posNion of the ch8ritsble company 8nd enable thom lo en8Lire that the finand01 statemènts ctsmply wllh the Companiès Act 2006. They are also respon8lble for safeguardSng the assets of the charitable company ond th& group and hencè for tsking reasonable steps for the prgveinlion and deleclH)n of fraud and other Irregulariti8s. 21
ALMEIDA THEATRE COhlPANY UMITED TRUSTEES, REPORT {continuedl FOR THE YEAR ENDED 31 MARCH 2022 STATEMENT OF TRUSTEES, RESPONSIBILITIES Icontlnu•d) Th8 Tfustses are reSp1b19 lor the maintenance and Inlegrfty ofthe corporalg and finandal Inforrnation induded on the charllable company's website. Legislation in the Unitod Kingdom governlng the preparalicffl and dissemlnalion of Ilnancl818t8tem6nts may differ from l¢gislallon in otherjurisdiclion8. Each of tho Trustees conflmi$ that.. lar as th8 Iruslge Is aware, ther818 no relovanl audit information ol which tha charltablg company'8 audllor18 unaware,. and Ihg trustee has taken 811 the 8tep8 that they ought lo have taken a tru8198 in order to make Ihemsolv&s awar8 of any r8levant8udbt Informallon and lo e81abllsh th81 the charllable comp8ny'¥ audllor18 awaro of that Informallon. This confimialion is given and should bo Inlerprel8d In accordgnco wlth tho wovlsSons of s418 of the Companlès Act 2006. Approved by the Board of Tru81ee8 on 14th Soplembar 2022 and 8lgn8d on It8 bohow by.. Luk• Johnson Tru8lee 22
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALMEIDA THEATRE COMPANY LIMITED Oplnlon We have audlled the flnanclal stalemants ol Theatre Company Llmltsd Ithe'ch8ritsble parent companll and subsldlorles Ilhe'group'l for the yeor ended 31 Morch 2022 1¢h comprSse Ihe consolldated stalernenl ol flnanc181 actwilies. the group and charitabb parent company balance sheets, the consolidated stalemont of cash flows aftd tho notes lo the ffinancial statements including the pr4ncipal accounllng polScie8. Th8 financial r8POrtlng fr8mework that hgs bBon applied in their pr8paration is appll¢abl8 18w and Unltèd Klngdom A¢counling Standards. including Financial Reportln9 Standard 102 'The Flnand81 Ropong Standard applloabl& In the UK and Rgpubli¢ of Ireland, Iunltsd Klngdom Generglly Aepted ArKounUng Pracikel, In our oplnlon, th9 flnan¢lal 8tstomenl8'. ve a bu8 and falr vSew of Iho 8181e of Iho group's and of thg charit parent oompany'¥ affalrs a¥ 8131 March 2022 aTrd of the group'8 Income and exFondbtLsre for the year then ended,. • hav8 boen properfy prepared In accordance vAth Unlted Klngdom Generally Accoptod AUrfng Prodl¢•', and • havo b8en prepared in aco)rdance wlth tho requlrements oftho Companle8 Act 2C(6. 8a•l• lor oplnlon Wo conducted our audlt In accordance th InlernaUon81 SlandBrds on Auditing IUKI IISA8 IUKII and appllcable law. Our re9pon8lbl1lo¥ undar those 8t8ndards ore fijrther descrlbed in the Aydbtor'8 re8pon8lblllles for the audlt of th nanclal statements 8ectOon of our report. We are independent of the group in accordancè th the ethical requlrem8nl8 that are Tebvanl to our audll tsf the flnanclal 8t816men18 In th8 UK, Includlng the FRC'S Elhlcal Stand8rd. gnd wo hove fuffilled our oth8r ethlcal r8sp)nsibiliUes in accordanca with Ih880 r8quir8m•nts. We beliove Ihot tho audit evidènce we have obtained Is suffidenl and appropriate lo provide 8 basI8 for our oplnkjn. Con¢lu•lon¥ r•latlng to golng eon¢•m In audibng the flnonGial 3t8lements, we have concluded that the Irusl¢os' use of the golng cL)ncam basls of accounljng in thg preparation olthe ffinancAal ststements 18 appropriate. Basgd on Ihg woth wo h8vo performgd. wg have not IdentSfied any matsrial uncertaSnlles relaung lo events orccfidltion8 thèl. Individually or collecllvety. may c8818ignificant doubl on the group and charbtable parent company's ablllty to Conn& as a golng corwn for8 perlod ofat18asl e1ve mnth8 from whon the Ilnanclal 8tatemen18 are outhSed for iSBUe. Our rOSFk)n51blllllos and thè règpon51bllM6s of th8 InJste&s with respect to golng concem ara d88crfbad In Ihe reK8vant Sodions of this rgport. Olh•r Inforn)atlon Th8 trust88s ara responsibl8 for the other Infcfmalion. The other Information comprise8 the infom81ion Snclud8d In the annLMI report and flnancial stalem8nts, other than thg financial stalem8nts arKI our auditor's report th8reon. Our oplnion on the ffinancial statements does not cover the 01her tnfomalion and, except to the exionl oth8rws• axplicitly slated in our report, we do not expre88 any fom) of 888UT8nce conclusbn thgreon. 23
INDEPENDENT AUOff(Mi'S REPORT TO THE MEMBERS OF ALMEIDA THEATRE COMPANY LIMITED leontinuedl In conn8ctton with our audit of the financial statements, our responsibilty is to read the other inft)rmation and, in doSng so. consldei whether the othèr informaoon Is materlally Inconsl8tenl wlth tha financial ststem8nts or our knowledgo obtsln¢d in the audil or otheNlse appears to bg materi8ly mlsstsled. If we Identlfy $ui materlal Snconslst6ncig5 or apparent mat8rfal mls$¢al8ments, we are requlred to det8fmine ether there Is a malerfal misslatem6nt In the flnancl&l 8tatemont8 or a matorial misstatem8nl of the oth8r inlormalion. If, b88ed on tho work we have p9rformed, w8 condudg that ther818 a materiol mlsstat8m8nt of Ihls olh8r Information. w& are required to rèport that fact. W6 have nolhing to report in th58 regard. Oplnlon4 on oth•f matt•rn prn•crlb•d by th• Companl•i Act 2006 In our opinion. bas8d on tho work undertaken in Ihe course of lh8 audrt.. the Snfom8llon glvan In tho InJ8tee8' report, whkh Is 4180 the directors. r8pDrt lor the pufpo888 ofcompany law and Includes the straleglc r8POrt. for the finonclal yoar for whkh thg finandal $talement8 are pr8par8d Is o)nsl$lontw th8 Inand81 stalemants,. and + th8 tru8t80s' roport, whlchls also tho dSrKlor8' report for Ihg purp95es of company law and Includ08 tho 81ralegk port. ha¥ been propared In 8ccord8nc9 wlth appllcabie legal requlr¢ments. Mattern on whl¢h w• ar• rnqulr•d to r•port by •xc•ptlon In the Ilghl olthg knowledoe and understsndlng ol the group 8nd Ihg charltable p8renl u)mpany and Ihelr envlfonmenl oblaln8d In the course of th8 audll, wè have not Idenfied rnaterf81 mlsstalemen18 In the Iru81e&8' report IndudSng th 8traleglc report. We havo nothIn9 to report In respect of thè folknvlng matter8 kn rolalon lo whl¢h the Conyan508 Act 26 requlre8 U8 to rop)rt lo you W, In our opinh)n'. • 8dequale ae¢ounUng record8 h8ve not been kopl by the CharItab parent company, or relum8 adequate for our audll have not bogn r8celv•d from br8nche8 not vlsll•d by u8., or • th• ¢harrtgbl parent company financial 8t*oments are not In s9M0t wlth Ihe accounUng récords ond relurn8' or certain dlsclosure8 of Irusts•s' remungrauon 8Pgcifled by law are not madg., or • w8 have roc8lv8d 811 thè Informatk)n 8nd explan8Uon8 we roqulr• for our 8udM. RpOnsIbIlItI•• of tru•tO0• As explalned more fully in the statement of trustees, responslblNlles, the trustees (who are also the directors of Ihg charitable company forth8 purpo$ of company lawl are responsib for lh8 proparalion of the financial ststem8nt8 and for b8lro saU8fi8d that they glv8 a true ond falrvlew, and for such Intomal control as the Iruslees delomilna Is nece68ary lo enable th8 proporaUC of financial stal&mgnts that are free from rnatsrial mffisstatsml, WhetrdUe to fraud or grror. In preparir¥J Ihg flnandal ststemonts. the trustegs ar8 responsible for assg$8ing the group's arKI Ihe charitablg parent company's abillly to conlinue as a going concgrn, dlsdo8ing, a8 appllcablo, matters related to ooln9 nCern ond usSrKJ the golng concern ba$18 of accounting unless the Irustegs either Intend to liquidate group or the tharitabkg parent company or lo cèase operations. or hove re81istic attemaUv8 bui to do so. 24
INOEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALMEIDA THEATRE COMPANY LIMrrED Iconlinuedl Audltar's r•8ponsibllltlos for the audlt ¢lth• flnanclal stat•m•nt$ Our ¢)blodves ar8 lo obtaln reasonable assurance abcut whether the finandal 5tatsments as a whok are free from malèrfal mlsstèt8m8nl, whether due to fraud or eiror. and to i88ug an 8udllorf8 report Ihol InclJde5 our oplnlon. Reasonable assuron¢g is a hwh18vel of assurance, blrt Is not 8 guarantsa that an audit conductèd in accordanca wth ISAS IUKlwill always delecl o matèrial mi88tst8mentwhen11 exists. Misstatements can arise from fr8ud or orror 8nd Bre considgr¢d material il, indlvidually or Sn the aggrogat8. they could reasonably b8 expected lo influ8nc8 Ihe economic d8cl8Son8 of users tsken the ba$1$ of these fln8nclal statements. IrrogulÈrtfj88. Includlng fr8ud, aro Insta95 ol non-compllance wllh laws and rogulatl)n8. We d96n PrdureS in line wlth our r88ponsibllbtlo$, outlln8d ab¢we, to detect matertal ml8818lements in mpecl of Irregularlde8, Includlng fraud. Our approa¢h lo IdentIng and as$es¥lng the rl8k$ of maledal m188lalamenl In respect of Irrggularillés, Inc4udlng fraud and non<ompllancg wlth laws and regulallon8, wa8 a8 follow8.. • The engagemènt pather ensured that the engagemonl team collgCtlv#ly Ii¥¢J Ili¥ dppruprldl¥ wiiip¥l¥iib¥, capabilities and skills lo identsfy or r8co9ni8e nonwcompliance wlh appllcabl8 laws and regulatKJn¥,' • We kjenufied the law8 and regulatlon8 appllcabb to the charfty through dl3cu88lon8 wllh management and from our knowledge and gxperfgncg of thg charity Sect,. • We fLxuged on 8paciflc laws and regulalons whlch we consldgred may have a dlrect matsrtal eff6ct on Ihe flnonclal stslemenls or the acllvlll8s ol tho charlty. These Included bul wore not Ilmlled lo the Comp8nl8s Act 2006,. the Charlllgs A¢1 2011,. Accounllng and R&porting by Charill88'. Stalemenl of Recommendod Practice 8ppIic8b18 to chariti88 preparing their 8ccounls in a¢cordanoe with thè Financlal Reportlng Stand8rd applIcat lo Unlled Klngdom and Republlc of Ireland {FRS 1021. We Assessed Ine 8xl8nl of compllancg wlth laws and regulatlons Idenllfled above my mokSThJ enquSrt98 of management and repre$entalvgs of the tru8tee8 and review of the minutes oflrustees, meellng8. We assessed the su8cepJbility of Ihe ¢hadty'$ financl81 $tslem8nts lo material m688tatemenl, indudlng how fraud might occur by.. • Maklng onqulries of m8nagomenl aNI repr8santaUv85 of the trustees 88 to whorn they consldgrod iheré w88 su8ceplibllity to fraud, th8lr knowlgdge of actual, suspected and aled fraud., and 4 Cons6d8ring the Inlemal ¢ntrOl$ in plac8 to mltuale rfsk8 of fraud and non-compllanco wlth laws and regulalons. To address Ihg risk olfraud through management blgs and ovorrlde of controls, we.. • Parformod analytical pro¢eiJures to Identify ony unu$uo1 or unéxpected financlal relallonshlps: • Tested and revl8w8djoumal entries to id&nlify unusual trsactls', • T881ed the 8utris8tion of exporKlllure', • Tested th* implam8nlation offinancAal ¢ontrol8; • Assessed whether ludggments and a$sumplion8 m8d& In delem)SnlrvJ tho a¢counting estimates were IndScalive ol potential bias.. and 25
IMDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ALMEIDA THEATRE COMPANY LIMITED Iconlinuedl InVeSgated the ratJno19 behlnd slgnkficanl or unusual fln8nd81 Irans8ctKJns. In rosFx)n8e lo thè risk of irr8gul8rftl88 and nonrfomplian( th laws and regulations. we de8yned procedures which included, bul were not Ilmtted to.. • Agreeing flnanclal statement dlsclosur6$ to undertying supportlng dmentatIon., • Reading the nnuts8 of meètlngs oftrust888', and • Enqulrlng of manag8m8nl and Tepres8ntsllv88 of the Iru$tO88 88 to actual and potentid IgatIon and dalm$. There are Inh8T8nt Ilmltauons In our audll procedur68 d88crfted Bbove. Th8 morè removed that Lgws and regulatlon$ are from finandal tran$8¢tion8, Ih816s8 likely 51 Is th81 w8 woukl bacome awarg of nonMplIance. AudSUng standard¥ 8180 Ilmil th8 audll prooedures requlred lo identify non-compllanc8 with laws antj regulations to onqulry of the truste0$ and managomenl and the Inspedon of regulatory andlogal corre8pondence, rf8ny. Malerfal mls8lalemonls th81 arlse due to fraud can be harder to delect than those that al• from eOr as they moy involve d81Sberate concoalmenl or collLtBlon. A further descrfption of ojr re8pon81billllas for the audit ollhè financial statements Is located on Ihg Flnancial Raporlng Councll s web81te al www.1rc.org.uklaudltorsrè¥pon8lbllitlo8. Th18 d¢$crlpJon fomis part of our audltor'¥ r9PQrt. U•• ol our r•port Thls roport Is made solely lo the charitable company's members, as o body. kn accordance wllh Chapter 3 of P8rt 16 of the Companlgs Act 2¢x16. Our 8udll work h88 bean undertaken 30 that we mlghl st818 to the charitable companvs mèmbers thoso matter8 we are roquired lo stsla to them In an 8udthrf8 report and for no other purp¢)80. To the lull&81 exlenl pemltted bylaw. we do not accept or assume re8ponsibillly lo anyone other than th& Charitab company and Ihg Charitable companys members 89 8 body. for our auéll work, for Ihl8 report, orfor th6 oplnion$ we have fom8d. Catherine BIsco8 (Senlor Stalulory Audllor} For and on behalf of Buzzacotl LLP. Slatulory Audhor 130 Wtx)d Street London EC2V 60L Date: 6 October 2022 26
ALMEIDA THEATRE COMPANY LIMITEO CONSOLIDATED STATEMENT OF FINANCIAL ACTIVMES FOR THE YEAR ENDED 31 MARCH 2022 Unr••trl¢t•d R•¥triet•¢l Fund• Fund Unr••trb¢ted R••lrlcted Fund• FundA Tot•1 2022 Total 2021 INCOME AND EXPENDITURE Inconm from Not• Donailon6 and Grants Charftable Acllvltl88 Other Trading Activlli88 Invoslments 3.082,960 252.297 3,335,257 2.321,825 2,321,825 737.743 737,743 24U 240 3,027,719 234,879 3.262.398 517.921 517,921 145,231 145.231 1,520 1,S20 Tot•1 Incom• ,142,768 252.297 6,395,065 3,692,391 234,879 3,927.070 Exp•ndlturn on Raislng Fund$ Charilabla AcUvllle8 519,388 519.386 5,586,567 537,300 6,123,867 405,140 405.140 2,806,81)0 313,899 3.120,699 Tat•l Exp•ndttur• 6,105,953 537,300 8,643.253 3,211,940 313,899 3,525.839 N•t Incom•llExp•ndltur•l For tho Y•thr 30,015 1285,003} {248,188} 4BO,401 {79,2201 401.231 Fund Bl*nc•• Brou9ht Forward 3,378.414 2,914,810 6,293,224 2,897.è63 2.994.030 5,891.993 Fund Balanc•• Carrl•d Forward 3,415,229 2,629.807 6,045,036 3,378,414 2,914.810 6,293,224 All acilvllles w#r& conlinulng. All recognlsed gain¥ and losses are induded in the above stalement ol flnancial adfjvlllgs. 27
ALMEIDA ThEATRE COMPANY LIMED Company Mumbgr: 1546033 BALANCE SHEET3 AS AT 31 PIARCH 2022 Group Charlty 2022 2021 2022 2021 FIXED ASSET8 Tanglble assets 11 3,804.202 3,964,617 3,796,993 3.956.713 Investment8 12 100 100 3,804,202 3,964,617 3.797,093 3,956,813 CURRENT ASSETS Stock$ Dobtor8 C88h at bank and In hond 7,082 1,UQS,901 2,243,771 6,255 674.525 2.639.259 14 1.490,760 2,232,332 694,309 2,625,667 3,756.734 3,320,039 3,723.092 3,319.976 CREDITORS: Imount• hlllng du• wlthln on• year 15 {1,015,gDOI {991,4321 11,486.103) 1995,2161 NET CURRENT A33Ers 2,240,834 2,328.607 2.236,989 2,324,760 NET A8SEr8 6.045.038 6,293,224 6,034,082 6,281,573 THE FUNDS OF THE CHARITY I GROUP 21 R••lrf¢t•d fvnd• 17 2,62•,807 2,914,810 2,629,807 2,914,810 UTrr•¥trl¢led lund• Tanglble flxed a89et fund De81gnaled fund8 General funds 18 19 20 1,468,532 742.6Sg 1,2¢M,038 1,465.060 1,010,000 903,354 1.461.423 742,659 1,200.193 1,457,156 1,010,000 899.607 3.415,229 3.378.414 3,404.275 3,386,763 6,045.036 6,293,224 6,034,082 6.281,573 The financial ¥tatsments were approvod by the 8oard of Tru81ee8 on 14 September 2022 and werè slgned on 11$ behalf by: /a•p Luke Johnson, Trustee Gompany no.. 1546033 28
ALMEIDA THEATRE COMPANY LIMITED CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2022 2022 2021 Nots Cash Inflow from oporatlng actlvttlo•: N8t Ca8h Iu88d Sn) providod by operating activllles 1295,4101 598,675 Ca•h Inllclw from Inv•8tlng •Ctlvltla¥: Inlere8t from investments Purchase of tanglble lixed assets 240 1100,3181 1,S20 139.7611 Nel cash used in Invosllng actlvlU08 1100,078) 138,2411 Chang• In ci•h and ¢a•h •qulvalent• In th• yoar I395,8) 580,434 Cash •nd ca•h •qulval•nt• at l Aprll 2021 2.639.2VJ 2.078,825 C••h and c•ah •qulv•l•nt• al 31 Mah 2022 2.243.771 2,839,259 MOTE8 TO THE STATEMENT OF CASH FLOWS FOR THE YEAR TO 31 MARCH 2022 R•conclllatlon of n•1 l•xp•ndltur•l In¢om• to n•t ca•h flow from op•rnilng actlvltl•¥ 2022 2021 N•t1oxp•ndltur•l Incom• (•• p•r th• •tJt•m•nt otllnanclal actlvltl••l Adlu•tm•nt• for: Depreci81Son char98 Inl&re81 from Invg¥lmtnls Ilncrea801 decrease In stock8 Ilncreasel d8crease In debtors Increaye {docr8asal In credllorB (248,188) 401,231 260,733 1240) 180n 1831,3761 524,468 272,268 11,5201 2.014 229,107 1304,4251 M•t ca•h lu••d Inl provld•d by op•ratlng actlvltl•• 295,4101 598.675 An*ly•l• of ¢••h •nd c•sh equlval•nt8 2022 2021 Cg$h al bank and In h8nd 2,243,771 2.639,259 Total n•t funds and cagh and ca•h •qutvalgnti 2,243.771 2.639.259 No $8parale reconcSllation of n81 debt ha8 beon prepared a8 there is no dlfferencg b8twoen Ihe net cash Id8btl of the charity and thè abovg cash and c8$h equivabnts. 29
ALMEIDA THEATRE COMPANY LIMrrED NOTES TO THE FINANCIAL STATEMEMT8 FOR THE YEAR ENDED 31 MARCH 2021 1. ACCOUNTING POLICIES The prlnclpal accountlng pollcias atlopted, ludgemanls and key sourcos ol 88tlmallon uncertainty In the proparauon of the ftnandal statemènts are18id OLrt below. 8a818 ol preparatSon These financlal 8ts1ements hav8 been propared for the yaar to 31 M8rch 2022 wlth comparativ8 informalion pr8s8nlgd for the year to 31 March 2021. The flnanc181 stslemènts have be8rb propared under Ihe hislorfcal cost convenll¢)n with Items recognlsod al cost or Ironsacllon valu8 unles5 olhorw189 slated In tha relevant aOuntIng pol188 below or the not8¥ lo th888 finanoial statemonl8. The flnancl81 $lalemenls have b88n prep8red In accordance wSlh Accounting and Reporting by Charllie8.' Slal8menl of Récommend&d Practi appllcable to chÈrilie$ proparlng Ihelr account8 In accordanco with tho Flnandal Reportlng Stsndsrd applicable In thg UK and RepublSc of Ireland IFRS 1021 Ichadtles SORPI. thg Fln8ncSal Rèporting Standard applicable in tho UK and Republk of Ireland IFRS 1021 and the Companle$ Aot 2006. The chartty con8lllulo8 8 publSc bonoftl ènllty 88 dgflned by FRS 102. The ffnandal 8t8tsmgnts 8Te pr•senled In 81&rtlng ènd aro roundod lo the neare81 pound, B••ls of conjolldatlon The con8011d81ed flnandal 8tolements Incorporaté tho flnanclal 8tsl&ments ol the Ajmekla Theolr8 Company Limilgd and Ils subsldlarf•s. Almglda Th8alr8 C81erlno Llmlled and Ajmolda PrfyJucllon8 Llmilèd for the year endèd 31 March 2022 on a line by line basis. Furthor dela118 8r6 glven in rKJle 13 to the flnand81 $1818ments. A8 pemiltted by S408 of thg Companleg Act 2006, no seporale profll and k>88 account 18 pre¥gnt&d ftK the char. crftlcal accountlng ••tlmats• and *r•a• of ludg•m•nt Preparallon of the financlo18lalemenls rnqulros the TN8le88 and managam8nt lo mak8 8lgnlflcanl judggments and 98tlmala8. The ilgm8 in the financlal 8tatemenls whore the80 ludgam8nl8 and osllmg198 have been mad8 Includo.. a88e88lnu the recoverablllly of pre-production ¢15,. and th8 cla8slflcation of a propèrty lempororlly let and not Used for tha chorfty's purposes as # langiblo fixed asset. A¥•g••m•nt of golng conc•m The Trustees havg ass8s8ed whethèr Ihe use of the golng concèrn ao¥umplion Is 8pproprf8le In preparing these fin8ncial slalemenls. Tho Truste88 have made th18 a88es8m&nl in r88pect lo # pedod of at lea81 one y¢8r from thg date of approv81 of thes8 finandal statements. 30
ALMEIDA THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Iconlinued} FOR THE YEAR E14DED 31 MARCH 2022 I. ACCOUNTING POLICIES Icontinued) A••eJgm•nt of golng Conrn Intinued) Covld-19 has h81J a WIdespad impact on daily lifo In the UK and has widely constrained the arts $8clor wSlh1Svo performances likely to be r8glrt¢led for 8ome Ilme thereby having a signillcanl Smpact on the charlty'8 Income. In ¥¥¥¥¥siiiu wli6111è1' Ili6 yuli)il COI)cern assumpllon is appropiialts, thé trustsas have tak•n •ccount of.. the current lundlng agreement wllh Arts Councll England up lo March 2023., and th• current level of unrastfictéd res6iv88 and cash balance8. Therefore. the Tru8t888 of ihe charlly have concluded that there Bre no malerfal uncortaln1199 related lo events or condlllon8 that may cast slgnlficanl doubl on thè ablllly of the charSty lo conllnue as a goln9 concem. Tho Trustee8 aro of the opinion that the charity wlll have sufflcl8nl re8ourGg3 lo mo81 its Ilablliile8 a8 they fall due. In¢om• Incomg is recognised In thè perlod In which tho charity hos enti118menl to the income 8nd tho amount ba mea8ur8d rellably and11 Is prob8blo that Incoma wlll b6 recelved. Income18 def8rr8d only when tho charfty has lo fulfil condltlons before b8comlng enlilled lo11 or where the donor or fundor ha5 speclfled that the Income 1$ lo bè 9xpgnd8d In s futur6 accounung p8rlod. Income MPrIso8 of grants and don811on8, theatre op8rallng Snwmg, incrrfng from Iradlng act)vitlos and Investment InGomg. Grants from govemment and othèr ag8nc1&8 have been Inoluded as income frorn charllable aclivllles whgrg these amount lo 8 contract for se(cO8, bul as donallong wher& tho mgney has greater Iregdom gf u$e. for example monles lor oorg fvndlng. Don8llons are rec8ived Irom momb8r8 and lh8 general publk and are accounlgd for ag they ar8 rècolved, unless thore18 probable assuroncg of enilllemenl and recoipl, In whlch c88e they aro recognised on an 8ccruo1$ basis. Any donallons wllh donor spaclfled reslrictlon8 on usage aro held within re3tri¢ted funds. Income from Sndlvldual memborBhlp schemes ollglble for Glft Ad18 recognlBod In full on rec8lpl. Income is only deferwd whgn It Spgclflcolly rtlales lo fulure accounung perlod¥, Thèatre OP¥fallng incom• r•pras8nts the total value of box office Income, royolUe3 from Iranslef8 and tours and other anclllary InGomo ro¢eiv8d by the group from cu81omers durSng the y8ar. excluding value added 18x. Income and any 8xp8nditUTe associated with producing a show is deferred if the pre88 night porformance takes place in Ihe next accounllng pedod. Incom8 from Ir8dlng activities Includè8 fundrdi81ng ovenl8, Spr80rshIp, bar income from the Ir8dlng subsldlary, rental Income and other trading ineomg from show nlghls. Fundraising event incorne is rgcognised on the day of the event In case of an unforeseen Goncèllalion of th8 event by th8 ch8rf1y', Sponsorshlp incom8 is rècognisod over the perlod for whlch the b9nefils are recelved according to the sponsorship agreement with a partner., Bar and other tr8dlng income ol merchandise salè3 Is recognlsed on re¢elpt on Show nlghts and., Rental Income is recognised over Ihe period of th8 agreement. Interest on funds hekl on depoBit is Induded whell receivable and the Smounl can be measured reliably by the charity., this 1$ nom1811y upon notificotlon ol the intsre8t pald or pay8ble by the bank. 31
ALMEIDA ThEATRE COMPANY LIMrrED NOTES TO THE FINANCIAL STATEMENT81¢¢)ntinuod} FOR THE YEAR ENDED 31 MARCH 2022 1. ACCOUNTING POLICIES {contlnuedl Incom• Icontlnu8dl Goods and services rec8lv&d Sn kSnd. where materiol, are included within 'Donation$' and undar th8 approprlale expenditure hgoding. depending on the nature of goods and 8ervice3 provlded. The88 are recognisgd at an limated value to th& charity al the Ilme of racelpl. In accordan¢g wllh the Chatltl68 SORP volunteer tlme18 not r¢eognised. Exp•ndltur• All expenditure 18 8ccounled lor on an aGcrual$ basls and has baan classified uNJer heading$ that aggregate all C081s related to the tegOry. The majority of cos18 are dlr8Ctly attrbbulable to specific activlti6s. Whor8 costs nnol be dlr6Glly attrlbuted to particular headlng$ they have been allocated to activitie8 on a ba8ls con8i$tonl with uso oflhe r&8ource8 and osllmaled amounts attrfbulable lo that 8dvlty In the aT. The clas8Mcallon been actlvillès Is 48 follow$', Exp&ndhure orb roSslng fund8 Includ89 911 oxpendthre on fiJndral8lng 8vonts. corporal8 8th'vltlg6, bar oxp8ns&8 and an 8lbcatlon of 8UPPOrt cost8. Expendllur8 on charflable acllvilie$ Includes the produellon gnd admlnl8lrallv8 cos18 of tha operollon of thè th8alra Ihg production of plays, inGluding depreclab.on on rolalad 8889ts. Prnwproduclion costs Sncurred In respect of a th8atr8 productlon are allrfbuted to the fln8nGlal year In whlch th• 8h¢)W'8 Pl8s8 night occurs. Allo¢Jtlon ol •upport and gov•rnan¢• ¢ts The malorlty of costs are dlreclly attrlbulabl8 10 8pècific a¢tlvllfr8. Offlce co818 and prop8rty-reLqled c08ts oro apportloned by the ialS0 olexpendlluro In a partlcular expense category. Govomanca co818 gr8 Ihoso Incurrod In nneollon th compllanc8 Mth con811tullonal and statutory requlrem8nls, Unr•slrl¢t•d fund• Unreytricted fund8 ar8 funds whlch are available for u6e al the discretion of Iho Trusleo8 In lurtheranco of the gtsneral objocllv88 01 the ¢hgrlty and whlch have not been do8lgnated for othw purposos. Deslgnat•d fund• Deslgnalad fundg are amounts whlch have bbon $81 oslde al the discrolion of Ihg Tru8lees for a specfflc. bul not legally blndlng purposo. Tanglble fixed aJ••t fund Tho ianglblg flxed 88881 fund comprfs•8 Ltnrestrkted funds represenl8d by tangibb fixed assets ar¥J are Ihereforo not readlty avallable for expendlluro. R••trlct•d Incom• fvnd• Where funds are rec8ived lo be app118d for Specific purposes Imposed by th8 donor or ImplSed by the terms of any appgal under which they weie rals8d, other than 8ndowmenl8, thosè 8r8 shown as reslricl8d income in the 918t8menl of financial actlvlllg8 ISOFAI. Sub8equentexpendilur8 for the purpos08 8pedfied Including deprecl8tlon ol any fix8d assets acquired, is chorged lo restricted funds In the SOFA, Unexpended balancos 8t the y8#r end, Including tho ngt book value of funded assets, are 8hown in the balance sheet a3 restricted funds. 32
ALMEIDA THEATRE COMPANY LIMITED MOTES TO THE FINANCIAL STATEMENT8 Icontinuedl FOR THE YEAR ENDED 31 MARCH 2022 1. ACCOUNTING POLICIES Iconlinued} Tanglble flx•d a••ot• and dopr•¢latlon FSx8d a88ets are Indudgd al cost ond c8pltallsed on tho balan¢8 sh8o1. There are no uTrcapil8lisgd fixed a85els. DepreCIaOn 18 provlded on all langlble flxed ag58ts except freehold IBnd at rgtes c8kulaled lo wdle off Ihe gxcesg of cogt over thg e¥timalBd re3idulll voluo" ovor Ihoir QXPQGtod uGolul economlG IIv06 al lh• following ral•8', Freehold building$ 2% on cost por annum Buildlng ranovalions - 2.5% 10 25% on Cost par Ènnum Flxlur88, fittlngs and equlpmenl - 25% or 20% on c081 per annum. Inv••tm•nt• Invgstmgnts In sub51dlarl88 ar8 8talgd at $1 bss provlslon for dlmlnullon In value. Sto¢k• Stocks are valued al th8 lower of c081 gnd net r8allsable volue. Un801d (lon8t•d btams ara not Included. D•btor8 Debtors afe rocognlsed 81 th8ir 88tt1emenl amount, 1888 any provlslon for non-recoverablllty. Prepaymenls aro v8lued al tho omounl preId. They h8ve been dI3nted to the pr888nt value of the future ca8h r01pt where Such dl8countlng18 malefial. Ca•h •t b•nk and In hand Ca$h al bank and In hBnd repro88nt8 suGh occounts ond In51rum6nts that are avall8ble on damAnd or have maturlly of 100 days from tho dale of acqulsltlon. Cr•dSiori and provl•lons CrefJSlor8 and provlgSons oro T9gnISed whon Ihore 18 an obllgatlon 81 the bèl8n¢e sheet dale as a re¥ult of past event. It is prob8blo that a transfer of 8conomic b&n&fil will b8 required in settlemgnl, and the amount of the settlement can be esllmaled rellably. Crgdllorn and prov181on8 are recognlsed al the amountthe ch8rlty anllclpale8 11 wlll pay lo settle the debt. They have been dI$Unted lo the present valu9 of the fulura cash payment whero Such dS8counUng l¥ matsrlal. P•nslon co¥t• Contdbullon8 In respect of varfou8 deflned conlrfbullon schom98 ar8 chargod to the 8tatemenl of financial acllvllle8 in th8 yO8r in which they are PByAble. Fln*nclal In•lrum•nts The charlly only has flnancial assets and liabilitS8s of a kind that qualify as baslc financial Instruments. 8asic fln8ncS8l Instrurn8nls are Initi411y recognis8d at transaction value and subsequ8nlly mea$urad at their Settlement valua. 33
ALMEIDA THEATRE COMPANY LIMrrED NOTES TO THE FINANCIAL STATEMENT8 {conlinugdl FOR THE YEAR ENDED 31 MARCH 2022 2. INCOME FROM DONATIONS AND GRANTS Unr•8trlctsd R•8trlct•d Fund• Fund• Unre8lrfctèd Rèstricted FurMIg Funds 2022 2021 Art8 CDuncll gran18 DCMS CRF Grant Innovale UK Gr8nt Small Busin8s$ (>anl Furlough Grants DOnaOn8 686.552 574,000 412.878 30.000 144.320 1,235.210 686,552 574,000 412.871 30,000 144,320 1.487,507 887,933 574,000 fj87.933 574,000 25.000 784,292 956.494 25,000 784,292 234,879 1,191,173 252,297 Tolal funds 3,082,960 252,297 3,335,257 3.027,719 234,679 3.262.398 Gfft8 In klnd and donat•d ••rvk•• The followlng $upport. In tho fomi of glfts In klnd and donated servlcos, was recelv8d by the chadty durfftg iho year.. provlslon of alcohol and caledng al ev&nls, dl$count8 and complim8ntsry coff88 and wine, hotel aexommodallon, legal 8dviGg, vgnuo hlre. refreshments for mg91ings. The value of thls $upport 1$ 98tlmaled to bo £128,672 {2021'. £10,000>. In Ilno with tho accounting poll¢y, th18 invaluablg support h88 not b•en wordod wSlhln the Stalemonl of Flnancl81 Actlvltl88 as Ihg donAtion8 8r8 not considéred to bo matodal. 3. INCOME FROM CHARITABLE ACTIWTie8 Unrn•trlct•d Fund• 2022 2021 Thealre operallng Incomè Thgalre lax rell8f 1,777,213 SM,612 458,411 59,510 Toi81 funds 2,321.825 517.921 4. INCOME FROM OTHER TRADING ACTNITIES Unr•¥trl¢t•d Funds 2022 2021 CorpDr4le a¢livili8s Bar r8vonu8 Other Ihealr6 Iradlng Rental Income 357.375 247.584 68,187 64,617 113,335 8.868 40 22,988 Total funds 737,743 145,231
ALMEIDA THEATRE COMPANY LIMITEO MOTES TO THE FINANCtAL STATEMENTS (continued) FOR THE YEAR ENDED 31 MARCH 2022 INCOME FROM INVESTMENTS Unr••trlct•d Fund• 2022 2021 Bank Inl8re81 240 1,520 Total funds 240 1.520 6. EXPENDrruRE ON RAISING FUNDS Dlroct Exp•ndltur• 8upport C¢•t• Dlrecl Expgndlture Support C¢y4ts Actlvlty 2022 2021 Donatlons Fundra581ng events Corporaté actlvltles Bar expenses Other th8alra tradlng 88,920 36,859 65,290 295,248 20,8•6 3,080 1,141 1,888 6,076 91,988 38,000 67,178 301.324 20.890 97,824 36,479 60,373 194,24T 4,079 101,903 1.521 38,000 2,517 e2,890 ,100 202,347 Total fund8 507,221 12.165 619.386 388,923 18,217 405,140 7. EXPENDITURE OM CHARrrABLE Acrivffie3 Unr•¥trlct•d R••trlct•d Fund8 Fundi Unre8tr1cted Re8lrfcted Funds Funds 2022 2021 Dirèct cost8 01 oper8ling Thoat Support costs S,455,720 130.847 524.716 5,980,436 12.584 143.431 2,694,447 112,353 301,334 2,995,781 12,S85 124.918 Total thJnds 5,586.567 537,300 6,123,867 2,806,800 313,899 3.120.699 35
ALMEIDA ThEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEhlENT8 Icontsnuod FOR THE YEAR ENDED 31 MARCH 2022 NET INCOME IEXPENDITUREI Group 2022 2021 Nèt inLK*me (exp8nditurel for the ye¥r staled after tharglng: Depredallon of tanglbl8 fixed a98èts Audltor's romuneratlon audlt fees Èudll foes relating lo Grant Glalm$ lax - other 8arvieo8 260,733 272,268 19,150 6.200 3,190 400 18.220 2,950 1,800 ALLOCATION OF SUPPORT COSTS IMCLUDING GOVERNANCE CO8T8 Tot81 Flnan¢o DepartmentC0818 of£155.596 {2021'. £141,135) ore apporuoned botsveen 8xpend1ra on ral$lng fund8 and expendSlurg on charllable acllvllle8 In the ralS0 of expendllure In each arga. Govem8nc8 cost8 are included wlthln Flnance Dgpartment costs. 10. STAFF COSTS AND DIRECTORS, REMUNERATION 2022 2021 Total •molumont¥: Wages and salari9$ Nallonal Insurance Penslon conlrlbutlon8 2,707,504 187,420 52,669 1,929.611 151.792 47,489 2.947.593 2.128,892 2022 Numb•r 2021 Number Avgrago number of &mployeas Ifull time equlvalentsl., Thaatre Artists IAotor8, supemufflèrar5, oxlras) Thealro Op8ralion Davelopmenl & Markellng Edu¢81ion & Access Adminl8tralion & Flnonce Catgdng C¢)mpany 17 io 10 21 49
ALMEIDA THEATRE COMPANY LIMITED MOTES TO THE FINANCIAL STATEMENTS Icontinu8dl FOR THE YEAR ENOED 31 MARCH 2022 10. STAFF COSTS AND DIRECTORS, REMUNERAnON {contlnu8dl Avaiaga number of 8mpkJyè88 Iheadcountl.. 2022 Numb•r 2021 Number Charlty Cal•rtng 127 17 149 22 144 171 The numbor of employe•s whoso omolumenls Ilnoluding taxable boMfrt8 but 8xcludSng amployer's ponslon and nallonal Insurance conlrlbulionsl exceeded £80,QOO w8r8'. 2022 Numb•r 2021 Number £70.000- £79,999 £80,000- £89,999 £110,000 - £119,999 £120,000 - £129,999 P8n$lon contrfbul10r of £8,25912021., £7,509) were pald lo deflned contrlbullon penslon 8chom85 In respect of Ihesg gmpbyaa8. The key management por8onno1 ol the ch8rity in charge ol directing, conlrolllng, runnlng gnd operating the cM8rfly on a d8y to day basls o)mprf88 the TN8lee8, the Execullvg Dlrector and Ihg Artlsllc Director, Th8 tol81 remun&rallon (Sncluding taxable beneffts, employerfs penslon eonlribulions and employfrrf¥ natlonal insurancè contdbullonsl of the key manag8ment Personnel for the year wa8 £245,81812021.' £221.4801. No dlreclor8 (who Bre o1$0 the Trust808 of th8 charityl recelve(l any remungralion durirvJ the yoar. No gxpense8 were Incurred by the dirgctory In the year12021.. £nill. Dlrectors ond Oftlcers {TrustBe Indemnltyl Insurance was pald ¢Jurfng Ihg year of £2,31312021: £1,6761. 37
ALMEIDA THEATRE COMPANY UMITED NOTES TO THE FINANCIAL STATEMENT8 Icontinuedl FOR THE YEAR ENOED 31 MARCH 2022 10. STAFF COSTS AND DIRECTORS, REMUNERATION Iconbnuedl Average number of employees Iheadcounll.. 2022 Nufflb•r 2021 Number Charity Catering 127 17 149 22 144 171 The number of employegs whose emoluments Ilncludlng taxable benefits bul excludlng employer's penslon nd n811onal insurance contribulionsl exc88dad £60,000 wgre,. 2022 Numb•r 2021 Number £70,000- £79,999 £80,000- £89,999 £110.000 £119,999 £120.000 - £129,999 Pènsion conldbutlon8 of £8,25912021., £7,509) were pgld to d•fln•d contribution pansion schemes in mspect ol these employoas. The key management personnel ol the charity in ch8rg8 of directing, controlling, wnnlng and oper8ling the tharily on a day lo day basis cornprise the Trustees. ihe Executive Director and the Artistic Direclor. The total rernuneralion lincluding taxable benefits, employer's pension contributions and employer's n81ion81 insurance contribkJtions1 of the key m8n8gernenl personnel for the year was £245,81812021'. £221.4801. No directors Iwho are also the Trustees of the charity) received any remuneralion during Ihe year. No expens8s were Incurred by the dlrector8 In the year12021.' £nill. D1CtorS and Officer5 ITru5lee indemnity) insurance wa5 paid during the year 01 £2,31312021'. £1.6761. 37
ALMEIDA THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAR ENDED 31 MARCH 2022 11. TANGIBLE FIXED ASSETS Fr•?hold land and bulldlngs Flxtur•J, fittlng• and •qulpmont Bulldlng r•novations Total Group Co•t Ai 31 Mard) 2021 Additions 2,133,22• 3.594,106 2,641.091 100.318 8,368,426 100,318 Al 31 March 2022 2,133,229 3,594,106 2,741.409 ,468,744 Accumulatod d•prèclation Al 31 M8r¢h 2021 Chargè for th6 year 381,500 27,476 1,643,007 88,638 2.379,302 144.819 4.403,809 260,733 Al 31 M8rch 2022 4118,976 1,731,645 2,523.921 4,664,542 Not Book Valu• Al 31 March 2022 1,724,253 1,862.461 217,488 3,804,202 At 31 March 2021 1,751,729 1,951,099 261,789 3.964,817 Freehold land and bulldlng• Flxture8, flitlng8 and oqulpment Bulldlng v•novatlon• Total Ch•rlty Co•l At 31 March 2021 Additions 2,133.229 3,594,106 2,611,036 98,131 8,338,371 98,131 Al 31 March 2022 2,133,229 3,594,106 2,709.1 B7 8,436.502 Ac¢umulot?d depruclatlon Al 31 March 2021 Charge for the year 381,500 27,476 1,643,007 88,638 2.357,151 141,737 4.381.858 257,851 At 31 March 2022 40B,976 1,731,645 2,498,888 4,639,509 N•t Book Value At 31 March 2022 1.724,253 1.862,461 210,279 3.796,993 At 31 hAarch 2021 1,751,729 1,951,099 253,885 3,956.713 38
ALMEIDA TPIEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontinu8dl FOR THE YEAR ENDED 31 MARCH 2022 11. TANG18LE FIXED ASSETS (COnnued} The retention ol thè The81re is intrin51c lo the charity continuing lo m&el its charitable aims. Accordingly, the Trustee8 have no intention to disposa ol Ihe Theatre. Certain funding Ilolallillg £1ml received in respect ol the redevelopment ol the Ihealre. which is secured by chargÈs over the cornpany's property. would be required lo be rgpald lo donor5 111 the unlikely event that the theatre is sold or a court ordgr is issued lo vlnd up the company. 12. INVESTMENTS Subsidiary undertaklng• Group Charlty Cost and net book value Al 31 March 2022 and 31 March 2021 100 The chaiity owns 100% ol the shar• capitsl of Ameida Theatra Calartng Llmiled, which 18 reglslergd In En9land. Th8 sub5idlary is used for non-primary purpose Irading aetsvllie5, namely operating the theatre bar. All activities havg been consolidated on a line by Ilne basss In the SOFA. Almeida Theatre Cataring Limlled owns 100% of the share capi181 of Almeida Production8 Limited, which is registered in Eng18nd, and cornmenced trading in September 2014. Its prln¢Sp818Ctivily is the protluc15on ol theatre show5. All activities hav• baan consolidated on 8 line by line basis in the SOFA. 13. COMMERCIAL TRADING OPERATIONS AND INVESTMENT IN TRADING SU8SIDIARIES The charity has ultimale ci)ntrol ov8r two COrnP8nies. The registered address ol both companies is tho samg as lor thè ch8rity. Almoida Tttealre Catering Limited (Company No, 01 $345851 h85 a princip81 activity ol catering, prlmarily the running ol tho Almelda Café Bar. A sumrnary ol its trading results for the year ended 31 March 2022 is shown below. 2022 2021 Tumover Cost of sal#s 247,584 1290,6461 8,868 1199,8741 Gross 1088 143,0821 1191,0061 Adminislratlve expens8s (not of m8nag8m&nt leèg) Other oper8llng income 112,4851 59,433 17.4241 193.479 Proflt (Ios81 for the year 3,888 14,9511 The assets and liabilities of Ihis subsidiary were.. Fixed assets Currènt assets Creditors.. arnounts falling due within one year 7,209 18.503 153,6031 7,904 19,848 {59,5291 Tol81 nel liabilities 127,8911 131,7771 Aggièg8te share Capital and reserves 127,8911 131,7771 39
ALMEIDA THEATRE GOMPAMY LIMITED NOTES TO THE FINANCIAL STATEMENTS leontsnuedl FOR THE YEAR ENDED 31 MARCH 2022 13. COMMERCIAL TRADING OPERATIONS AND INVESTMENT IN TRADING SU8SIDIARIES Icontsnuedl Alm8ida Productions Limited (Company No. 018273511 princlpal activity is the production of Ih•atre shows. A summary ol its results and financial position is shown below.. 2022 2021 Turnover Cost of sales 2.885,895 13,430,$071 492,221 1551,731} Gro•• lo• 1544,6121 159,5101 T8xalion for the year 544.612 59.510 Lo• for the y•ar The as8e15 and liakn'libes ol this subsidiary v4ere'. Current assets Credllors." omounts tslllng due wlthln on8 year 544,812 1544,6061 59,510 159,5041 Total net asse15 Ag9r898ie share capital and reserv88 14. DEBTORS Group Chaty 2022 2021 2022 2021 Du• wlthln on• ye•r Trade debtors Amounts owed by subsldiary undertakings Other debtors Production costs in gdvance Prep8yments and accru8d Sncome 68.481 104,529 68,481 550.546 14,795 304,907 552,031 104,529 79.300 580,4B2 304,907 5S2,031 59,524 246,676 263,796 246,676 263,796 1,SOS,901 674,525 1,490,760 694,309 15. CREDITORS.. amounts l•lllng due wlthln one yèar Group Charlty 2022 2021 2022 2021 Trade credttors Othèr taxation and socAal securty Other credilars Box office receipts in advance Accru81s and delerre(J inc¢)me 21 S,269 116,057 178,823 312,396 693,355 78,927 87,563 167,455 207,078 100,872 172,402 312,396 693,355 78,788 87.021 171.920 657,487 657,487 1,S1 S,900 991,432 1.486,103 995,216 40
ALMEIDA THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAR ENDEO 31 MARCH 2022 16. AOVEMENT ON DEFERRED INCOME Oeferred incorne relates lo granl, sponsorghlp, donation and membership income received during the year bul whlch will be Spent in subsequent years. 2022 2021 Group •nd ch•rlty Deferred Incomé brought forward Rele8sed in the year Deferred in the year 91.207 122,7531 294,707 471.600 1470,8791 90,486 Deferred Income carrl•d farward 363,161 91,207 17. RESTRICTED FUNDS 1 Aprll 2021 31 M•r¢h 2022 Incom• Exp•ndltur• Group •nd Charlty Productlon• lund C•plt•l fund 415,253 2,499,557 252.297 {373.4111 {1fj3,8891 294,139 2,335,668 R••trfct¢d fund• 2,914.010 252,297 1537,3001 2,829,7 1 Aprti 2020 31 March 2021 Income Expenditure Group and Charity Production8 fund Capital fund 330.584 2,663,446 234,679 1150,0101 1163.8891 415,253 2,499,557 Re8lrcled funds 2,994,030 234.679 1313,899 2,914.810 Restrictèd lund5 represent monies received by the charitable company for a specific purposo. Details of Ihg restricted funds held as at 31 March 2022 are gven below., Pr*urt1onS lund This fund Consisted of monies receive<1 from vanou5 donors lo contribute to the running of the Arneida, educatlonal projects, lunding accessible performances, capital prol8Cts and our Young Artists programm8. Capltal fund This fund consisted of funding previously received in respèct to th8 rèdev8lopm8nt of Ihè Theatr8 and ACE funds towards improvements. 41
ALMEIDA THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAR ENDED 31 MARCH 2022 18. TANGIBLE FIXED ASSET FUND Movement In yaar 31 March 2022 2021 Tangible fixed asso1 lund.. Charity Subsidiaries 1,457,156 7,904 4,267 17951 1.461,423 7,109 Group 1,465.060 3.472 1,468,532 1 April 2020 Movernent in year 31 March 2021 Tanglble flxod asset lund.. Charily Subyid18ri8S 1,528,321 5,456 171,1651 2,448 1,457,156 7,904 Group 1,533.777 168,7171 1,465,060 This fund Tepresen18 unrestricted tangible fixed assets and therefore Is not rg8dily Bvailable lo m8ot expenditur8. 42
ALMEIOA THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Iconb"nuedl FOR THE YEAR EMDED 31 MARCH 2022 19. DESIGNATED 1 Aprll 2021 Utllls¢dl Released 31 M¥i¢h 2022 Group and charlty Propeity redevelopment fund Maintenance reSee.. Repairs and renewals Equipment replacement reseNa Crealivelspecial Situatlon reserye 400,000 400,000 125,000 35,000 450,000 125,000 35,000 182,659 1267,3411 1,010,000 1267,341) 742,659 1 April 2020 New Deslgnauon 31 March 2021 Group and ¢harily Properly redevelopment fund Malnlenance reserve.. Rèpairs and renewals Equipment lea¢ement reserve Cre81ivelSp8cial Silualion reserve 400,000 400,000 125,OOfl 35,000 125.000 35,000 450,000 450.000 560.000 450,000 1,010,000 The Propety d&V10pMent fund is reserved for Inva9tm&nt towards red&velopment of the 10819 Upper Slreel 8118 ahead of a major lundraislng inlli81ive, If required these reserves would ba usad as a bridging reserve to be repaid through lundra15ing from trusts. foundations and major donors. During the yèar, £267,341 of the Crealivelspecial Situalion reserve was used to lund activities postponed due to Covid-19 restriciions,. £295,000 w89 design8ted in 2020121 specific8lly lo fund Six Artists in Search ol a Play, The Kèy Work#rs Cycl& and The Maladies. The balance of £182.659 wlll b8 usgd in 22123 to fund The Mol8dles (Aprfl 221 and the Participation and Artislic programme. The Mainlenance reserve is split into Tepairs and renewals for bulldings and equipment. 11 is for emergenry repairs as well as to deal with Unfoseen 8nd uninsured developments more generally. 11 is anticipated that these reserves wlll bt utslised in the next three year5. 43
ALMEIDA THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAR ENDEO 31 MARCH 2022 20. GENERAL FUNDS The policy of the Charity is to hold Irae reserves ol al least £900,500 wilhln Ihe general fund. This has been idenlilied as a result of a review of the nsks to the ch8rity. The ITuslees identified the main revenue streams al risk1g9. Developrnenl Income, Rox nfflc.A inromel and the likelihood ol risk occurrtnll. They also looked at working capit31 requirements and have included an amount in the reserves lo allow for this. Gener81 funds al 31 M8rch 2022 are £1.204,038 lor thè uroup and £1.200,193 for thè Charity. 21. ANALYSIS OF NET ASSETS BETWEEN FUNDS T•nglbl• flxed a8S•t• N•t curT•nt 2022 Total Group Vnre•trlcl•d fund* Tangible nxed assèt fund Oesign8tad funds General funds 1,468,532 1,468.532 742,659 1,204,038 742,65 1,204,038 1.468,532 1,946,697 3.415,229 R••trlct•d lund• 2,335,670 2M,137 2,fj29,807 3.804,202 2,240,834 6,045.036 Flx•d N•t curr•nt 2022 Total Charlty Unrestrlctsd funds Tangible fixed asset fund Designated funds General funds 1,481.423 1.461,423 742,659 1,200,193 742,659 1,200,193 1.461A23 1.942.852 3,404,2T5 R•¥tricted lund8 2,335.670 294,137 2,629,807 3,797,093 2.236,989 6,034,082
ALMEIDA THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS Icontinuedl FOR THE YEAR ENDEO 31 MARCH 2021 21. ANALYSIS OF NET ASSETS BETWEEN FUND5 (continued Tangible rixed assets Net current 85sgIs 2021 Total Group Unrestricted funds,. Tangibl8 fixed 85581 fund Designated funds General funds 1,465,060 1.465.060 1.010,000 903,354 1,010,000 903,354 1,465,060 1,913,354 3.378.414 ReBtricted funds 2,499,557 415,253 2.914,8to 3,964,617 2,328,607 6,293.224 Fixqd aSset3 Nat curronl assets 2021 Total Cherity Unmstrictéd lund8'. Tangible lixed asset fund Oesignated funds Gener81 fund8 1.457,156 1,457,156 1,010,000 899,807 1,010,000 899,507 100 1,457,256 1,909.507 3,368,763 R8strlct8d funds 2,499.557 415,253 2,914,810 3,956,813 2,324,760 6,281.573 22. RELATEO PARTY TRANSACTIONS Total donations to the charity by Iruslees in the year were £3,55012021'. £6,165). Except a5 disclosed In note 10 lo th8 financial 8talemeni8, there have been no other related p8rty tr8n8a¢tions In thè pèriod which require discb5ure {2021.' none). 45