THEATRE DESIGN COURSE LIMITED
REPORT AND FINANCIAL STATEMENTS
31st March 2024
COMPANY REGISTRATION NUMBER: 1605121
CHARITY REGISTRATION NUMBER 284062
Frank Lachman 31 Fairview Way Edgware Middlesex HA8 8JE
YEAR ENDED 31ST MARCH 2024
LEGAL AND ADMINISTRATIVE INFORMATION
DIRECTORS & TRUSTEES:
Paul Handley Director and Trustee Sean Michael Holmes Trustee David Lan Trustee David Victor Frost Gothard Director and Trustee Rupert John Rhymes Resigned 23rd September 2023 Esmeralda Devlin Trustee Appointed 13th March 2024 Matthew Xia Trustee Appointed 13th March 2024
SECRETARY: Paul Handley REGISTERED OFFICE: Mulbury Utc 64 Parnell Road London E3 2RU INDEPENDENT EXAMINER Frank S Lachman 31 Fairview Way Edgware Middlesex HA8 8JE
CHARITY REGISTRATION NUMBER: 284062
COMPANY REGISTRATION NUMBER: 1605121
BANKERS
Lloyds Bank 77-81 High Street Chelmsford CM1 1DU
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THEATRE DESIGN COURSE LIMITED
DIRECTORS' AND TRUSTEES' REPORT
The directors/trustees present their report and the financial statements for the year ended 31st March 2024.
Company Registration Number 1605121
Charity Registration Number 284062
Registered Office Mulbury Utc, 64 Parnell Road, London, England, E3 2RU
Independent Examiner Frank S Lachman FCA- 31 Fairview Way, Edgware, Middlesex HA8 8JE
Bankers Lloyds Bank, 77-81 Chelmsford, CM1 1DU
DIRECTORS' RESPONSIBILITIES
Company Law which is also applicable to charitable companies in England and Wales requires the directors, who are also trustees of the company, to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the results of the company for that year.
In preparing those financial statements, the directors/trustees are required to:
select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP make judgements and accounting estimates that are reasonable and prudent;
state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors/trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
PRINCIPAL ACTIVITY AND CHARITABLE OBJECTIVE
The company is a professional theatre company with particular emphasis on new writing and devised work for production on stage and undertaking educational projects.
ORGANISATION AND CONSTITUTION
The company was incorporated on 18th December 1981 and is governed by its Memorandum and Articles of Association. The company is limited by guarantee and has no share capital. The guarantees of individual members are limited to £1.
The Board of Directors may from time to time and at any time appoint any member of the company as a member of the board of directors, either to fill a casual vacancy or to fill the board of directors, provided that the prescribed maximum be not thereby exceeded.
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THEATRE DESIGN COURSE LIMITED
DIRECTORS' AND TRUSTEES' REPORT (continued)
RISK MANAGEMENT
The company undertakes periodic reviews for different areas of risk including insurance cover,health and safety policies
in the workplace and whilst performing, working with young children,financial affairs; personnel practices; ICT technology.
ASSETS
The movement in fixed assets is shown in Note 6 to the accounts.
ACCOUNTANTS
A resolution proposing the re-appointment of Frank Lachman as Independent Examiner will be submitted at the Annual General Meeting.
REVIEW OF ACTIVITIES
The company did not trade during the year.
FINANCIAL REVIEW
The organisation is solvent and in a position to meet its liabilities while fulfilling its artistic mission.
The Board of Directors has established policies whereby
· the unrestricted funds held by the charity should cover a minimum of six months running costs
· income from funds invested may be used to improve earnings of actors and others working on the theatre’s main inhouse productions
GOING CONCERN
The directors confirm that a going concern basis is appropriate for the preparation of these accounts.
The directors affirm that the company is solvent, and will have sufficient resources to function for the twelve months from the date of signing these accounts.
RESERVES POLICY
The Board of Trustees have established a policy whereby the unrestricted funds held by the charity should cover a minimum of six months running costs (salaries and overheads).
Income from funds invested may be used to improve earnings of actors and others working on the theatre’s main in-house productions
DIRECTORS & TRUSTEES
The directors set out below have held office during the whole year unless otherwise indicated on page 1.
Paul Handley Sean Michael Holmes David Lan David Victor Frost Gothard Rupert John Rhymes Esmeralda Devlin Matthew Xia
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THEATRE DESIGN COURSE LIMITED
DIRECTORS' AND TRUSTEES' REPORT (continued)
RESERVES
The movement in reserves is shown in note 9 to the accounts.
This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.
CHAIRMAN'S REPORT
Objectives and Activities
The governing document declares –
To advance public education in design in all the performing arts.
Trading as the Genesis Theatre Design Programme the project aims to offer a very high standard free design education to groups not well represented in the industry – namely those from global majority and socio-economically disadvantaged backgrounds.
The trustees have discussed the guidance issued by the Charity Commission on public benefit.
Achievements and Performance
The design programme’ pilot phase began with 6 students. 4 are likely to complete the programme and have already demonstrated both talent and the rigour of the training they have been given. Their work has been critiqued by industry professionals. They will exceed the standard expected ahead of being placed in work placements to continue their path to being industry ready design professionals.
Financial Review
The programme is reliant on two grants – one from the Genesis Foundation and the other The National Theatre Foundation.
The Genesis Foundation have confirmed funding for a further 4 years but we are now looking for additional grant support to meet the costs of running such an intensive course and to allow for a larger intake of students.
Structure, Governance and Management
We currently have 6 trustees who have been recruited on the basis of their status and reach in the theatre industry. All are strong advocates for the programme.
The programme is managed by two course directors Sadeysa Greenaway- Bailey and Ultz.
They meet six monthly with the trustees to discuss performance and problems facing the programme. On the fixed agenda is discussion of safeguarding, health and safety and charity objectives.
This report was approved by the board on 24th December 2024
and signed on its behalf by Paul Handley
Paul Handley
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THEATRE DESIGN COURSE LIMITED
Independent Examiner's Report on the Accounts of Theatre Design Course Limited
(COMPANY REGISTRATION NUMBER: 1605121)
I report to the charity trustees on my examination of the accounts of the company for the year ended 31st March 2024 which are set out on pages 6 to 12.
Responsibilities and basis of report
As the charity’s trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity’s accounts as carried out under section 145 of the Charities Act 2011 (the ‘2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent examiner's report
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
(1) accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or
(2) the accounts do not accord with those accounting records; or
(3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination; or
(4) the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Frank S Lachman Chartered Accountant Independent Examiner
24th December 2024
31 Fairview Way Edgware Middlesex, HA8 8JE
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THEATRE DESIGN COURSE LIMITED
Statement of Financial Activities (incorporating an Income and Expenditure Account) For the Year Ended 31st March 2024
| Total | Total | ||||||
|---|---|---|---|---|---|---|---|
| Funds | Funds | Funds | Funds | ||||
| Notes | Restricted | Unrestricted | 2024 | Restricted | Unrestricted | 2023 | |
| Income | |||||||
| Grants and donations | 2 | 150,000 | - | 150,000 | - | - | - |
| Investment income | - | 116 | 116 | - | 28 | 28 | |
| Charitable activities | 3 | - | - | - | - | - | - |
| ___ | ___ | ___ | ___ | ___ | __ | ||
| Total income | 150,000 | 116 | 150,116 | - | 28 | 28 | |
| ___ | ___ | ___ | ___ | ___ | __ | ||
| Expenditure | |||||||
| Charitable Activity Costs | 5 | 142,080 | 6,518 | 148,598 | - | 400 | 400 |
| ___ | ___ | ___ | ___ | ___ | __ | ||
| Total expenditure | 142,080 | 6,518 | 148,598 | - | 400 | 400 | |
| ___ | ___ | ___ | ___ | ___ | __ | ||
| Net Income | 7,920 | (6,402) | 1,518 | - | (372) | (372) | |
| Reconciliation of Funds | |||||||
| Funds brought forward | - | 12,963 | 12,963 | - | 13,335 | 13,335 | |
| Transfers | - | - | - | - | - | - | |
| ___ | ___ | ___ | ___ | ___ | __ | ||
| Funds carried forward | 9 | 7,920 | 6,561 | 14,481 | - | 12,963 | 12,963 |
| ___ | ___ | ___ | ___ | ___ | __ |
The statement of Financial Activities includes all gains and losses recognised in the year
All income and expenditure derive from continuing activities.
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THEATRE DESIGN COURSE LIMITED
Balance Sheet at 31st March 2024
| Notes | 2024 | 2023 | |||
|---|---|---|---|---|---|
| £ | £ | £ | £ | ||
| Fixed assets | |||||
| Tangible assets | 6 | 1,260 | - | ||
| Current assets | |||||
| Debtors | 7 | - | - | ||
| Cash at bank and in hand | 18,444 | 67,186 | |||
| _ | _ | ||||
| Total current assets | 18,444 | 67,186 | |||
| Creditors - amounts falling due within | |||||
| one year | 8 | 5,223 | 54,223 | ||
| _ | _ | ||||
| Net current assets | 13,221 | 12,963 | |||
| _ | _ | ||||
| Net assets | 14,481 | 12,963 | |||
| _ | _ | ||||
| The Funds of the Charity | |||||
| Restricted | 7,920 | - | |||
| Unrestricted | 6,561 | 12,963 | |||
| _ | _ | ||||
| Total Charity Funds | 9 | 14,481 _ |
12,963 _ |
For the 31.3.2024 financial year in question the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
No members have required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of accounts
The accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the directors on 24th December 2024 , and signed on their behalf by Paul Handley - Director
Paul Handley
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THEATRE DESIGN COURSE LIMITED
Notes to the Financial Statements For the Year Ended 31st March 2024
1 Accounting Polices
(a) The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2022) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Ridiculusmus Theare Company meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).
(b) Tangible Fixed Assets
Depreciation is provided at rates calculated to write off the cost of each asset over its expected useful life, as follows:
Fixtures, fittings and equipment
Over three years
(c) Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the items of income have been met, it is probable that the income will be received and the amount can be measured reliably. Income from grants, whether capital or revenue grants, is recognised when the charity has entitlement to the funds, any performance conditions attached to the grants has been met, it is probable that the income will be received and the amount can be measured reliably and is not deferred.
(d) Expenditure
All expenditure is accounted for on an accruals basis. Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party. It is probable that settlement will be required and the amount of the obligation can be measured reliably.
Costs are allocated to a category either because such costs are directly incurred in relation to such category, or because they are support costs in respect of which an apportionment has been made between the categories.
Support costs consist of infrastructure costs for salaries, premises, office administration. Such costs are apportioned on a reasonable and consistent basis to the various categories with a view to determining, as accurately as possible, the total resources expended for each category. The basis of apportionment used is either a function of staff time applied to a given activity, or an estimate of the proportion of costs associated with the same, or a combination of both.
Direct and Support costs are separately shown by natural classification in Note 5 to these accounts for each category of cost.
(e) Taxation
The company as a registered charity ( number 284062 ) is exempt from taxation on most investment income insofar as it is applied for charitable purposes. The company is also exempt from taxation on capital gains.
(f) Debtors
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
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THEATRE DESIGN COURSE LIMITED
Notes to the Financial Statements For the Year Ended 31st March 2024
(g) Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2 Grants and donations
| Grants and donations | ||||||
|---|---|---|---|---|---|---|
| **Restricted ** | Unrestricted | **Restricted ** | Unrestricted | |||
| Funds | Funds | 2024 | Funds | Funds | 2023 | |
| Grants | ||||||
| Genesis Foundation | 100,000 | - | 100,000 | - | - | - |
| Royal National Theatre | 50,000 | - | 50,000 | - | - | - |
| _ | _ | _ | _ | _ | _ | |
| 150,000 | - | 150,000 | - | - | - | |
| _ | _ | _ | _ | _ | _ |
3 Charitable activity
| Charitable activity | ||||||
|---|---|---|---|---|---|---|
| **Restricted ** | Unrestricted | **Restricted ** | Unrestricted | |||
| Funds | Funds | 2024 | Funds | Funds | 2023 | |
| Charitable activities | - | - | - | - | - | - |
| Sundry | - | - | - | - | - | - |
| _ | _ | _ | _ | _ | _ | |
| - | - | - | - | - | - | |
| _ | _ | _ | _ | _ | _ |
4 NET INCOMING RESOURCES
Net (outgoing)/incoming resources are stated after charging:
| Examiner's fee | 1,000 | 400 |
|---|---|---|
| Depreciation of tangible assets | 630 | - |
| ______ | ______ |
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THEATRE DESIGN COURSE LIMITED
Notes to the Financial Statements For the Year Ended 31st March 2024
| Support | Support | Charitable | Charitable | |||
|---|---|---|---|---|---|---|
| 5 | costs | costs | Costs | Costs | Total 2024 | |
| Unrestricted | Restricted | Unrestricted | Restricted | |||
| Direct costs | ||||||
| Teachers | - | - | - | 88,298 | 88,298 | |
| Course materials | - | - | - | 3,277 | 3,277 | |
| Premises | - | - | - | 24,600 | 24,600 | |
| Support costs | ||||||
| Administration and other fees | - | 25,905 | - | - | 25,905 | |
| Library | 715 | - | - | - | 715 | |
| Insurance | 1,343 | - | - | - | 1,343 | |
| Website | 2,311 | - | - | - | 2,311 | |
| Software | 112 | - | - | - | 112 | |
| Accountancy | 1,000 | - | - | - | 1,000 | |
| Tickets | 260 | - | - | - | 260 | |
| Sundry | 147 | - | - | - | 147 | |
| Depreciation | 630 | - | - | - | 630 | |
| _ | _ | _ | _ | _ | ||
| Total 2024 | 6,518 | 25,905 | - | 116,175 | 148,598 | |
| _ | _ | _ | _ | _ | ||
| During the year the company had no employees. (2023: none) | ||||||
| Support | Support | Charitable | Charitable | |||
| COMPARATIVES 2023 | costs | costs | Costs | Costs | Total 2023 | |
| Unrestricted | Restricted | Unrestricted | Restricted | |||
| Direct costs | ||||||
| Teachers | - | - | - | - | - | |
| Course materials | - | - | - | - | - | |
| Premises | - | - | - | - | - | |
| Support costs | ||||||
| Administration and other fees | - | - | - | - | - | |
| Library | - | - | - | - | - | |
| Insurance | - | - | - | - | - | |
| Website | - | - | - | - | - | |
| Software | - | - | - | - | - | |
| Accountancy | 400 | - | - | - | 400 | |
| Tickets | - | - | - | - | - | |
| Sundry | - | - | - | - | - | |
| Depreciation | - | - | - | - | - | |
| _ | _ | _ | _ | _ | ||
| Total 2023 | 400 | - | - | - | 400 | |
| _ | _ | _ | _ | _ |
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THEATRE DESIGN COURSE LIMITED
Notes to the Financial Statements For the Year Ended 31st March 2024
6 Tangible fixed assets
| 6 | Tangible fixed assets | ||
|---|---|---|---|
| Fixtures | |||
| fittings & | |||
| equipment | Total | ||
| Cost | |||
| At 1st April 2023 | 2,634 | 2,634 | |
| Additions | 1,890 | 1,890 | |
| _ | _ | ||
| At 31st March 2024 | 4,524 | 4,524 | |
| _ | _ | ||
| Depreciation | |||
| At 1st April 2023 | 2,634 | 2,634 | |
| Charge for the year | 630 | 630 | |
| _ | _ | ||
| At 31st March 2024 | 3,264 | 3,264 | |
| _ | _ | ||
| Net book value | |||
| At 31st March 2024 | 1,260 | 1,260 | |
| _ | _ | ||
| At 31st March 2023 | - | - | |
| _ | _ | ||
| 7 | Debtors | ||
| 2024 | 2023 | ||
| Trade debtors | - | - | |
| Other debtors | - | - | |
| _ | _ | ||
| - | - | ||
| _ | _ | ||
| 8 | Creditors - amounts falling due within one year | ||
| 2024 | 2023 | ||
| Grants in advance | - | 50,000 | |
| Accruals and other creditors | 5,223 | 4,223 | |
| _ | _ | ||
| 5,223 _ |
54,223 _ |
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THEATRE DESIGN COURSE LIMITED
Notes to the Financial Statements For the Year Ended 31st March 2024
9 Reconciliation of movements in Funds
| Balance at | Balance at | ||||
|---|---|---|---|---|---|
| 1 April | 31 March | ||||
| 2023 | Income | Expenditure | Transfers | 2024 | |
| Unrestricted Funds | |||||
| - Restricted | - | 150,000 | (142,080) | - | 7,920 |
| - Unrestricted | 12,963 | 116 | (6,518) | - | 6,561 |
| _ | _ | _ | _ | _ | |
| 12,963 _ |
150,116 _ |
(148,598) _ |
- _ |
14,481 _ |
The above funds comprise:
Unrestrictedl Fund: are moneys which can be used by the Trustees at their discretion for any purpose and which have not been designated by them previously
Restricted Fund: is intended to match the grants received with the attached costs incurred in the following financial year.
10 Analysis of net assets between Funds
| Tangible | Net Current | |||
|---|---|---|---|---|
| Fixed Assets | Assets | Total 2024 | Total 2023 | |
| Restricted | - | 7,920 | 7,920 | - |
| Unrestricted | 1,260 | 5,301 | 6,561 | 12,963 |
| _ | _ | _ | _ | |
| 1,260 _ |
13,221 _ |
14,481 _ |
12,963 _ |
11 TRUSTEES
During the year none of the trustees received any remuneration from the trust and no expenses were reimbursed or paid to any of them or paid on their behalf
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