**Charity Registration No. 291344**
**Company Registration No. 01871300 (England and Wales)**
## **THE OPEN THEATRE COMPANY LIMITED**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2022**
## **THE OPEN THEATRE COMPANY LIMITED**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
**Directors** M Guilfoyle R Hawley (Chair) H Blackwood M Rose M Smith J Vaughan L Greenwood Mr R Hayhow C E Stubbs **Secretary/ Associate** M. Yee Bould **(Business and Policies) Charity number** 291344 **Company number** 01871300 **Principal address** Daimler Powerhouse Unit 4 Sandy Lane Business Park Coventry CV1 4DQ **Registered office** Daimler Powerhouse Unit 4 Sandy Lane Business Park Coventry CV1 4DQ **Independent examiner** Kendall Wadley LLP Merevale House 27 Sansome Walk Worcester WR1 1NU **Bankers** HSBC Bank 11 Victoria Square Droitwich Worcestershire WR9 8DH
(Appointed 2 February 2022) (Appointed 17 February 2022)
## **THE OPEN THEATRE COMPANY LIMITED**
## **CONTENTS**
||**Page**|
|---|---|
|Directors' report|1 - 3|
|Independent examiner's report|4|
|Statement of financial activities|5 - 6|
|Balance sheet|7|
|Statement of cash flows|8|
|Notes to the accounts|9 - 23|
## **THE OPEN THEATRE COMPANY LIMITED**
## **DIRECTORS' REPORT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
The directors present their annual report and financial statements for the year ended 31 March 2022.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Charity's Memorandum and Articles of Association, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".
## **Objectives and activities**
Our charity's purposes as set out in the company's memorandum of association are described as follows:
_**To promote, maintain, improve and advance education particularly by the production of educational plays and the encouragement of the Arts including the arts of drama, ballet, music, singing, literature, sculpture and painting.**_
Our vision is to transform the West Midlands into a radically creative space; a centre of best practice and excellence for young people with learning disabilities (YPWLD). We seek to enable YPWLD access and make meaningful creative contributions to the cultural life of the region and beyond, becoming the artists, leaders, facilitators and enablers of the future. Our core values, ways of working and engaging with people throughout all areas of our work have grown through the non-verbal physical theatre practice that was developed (and is still evolving) through our sustained interaction with YPWLD.
The directors have paid due regard to guidance issued by the Charity Commission in deciding what activities the Charity should undertake.
## **Achievements and performance**
All our charitable activities focus on benefitting young people with learning disabililities. Our main activities during 2021-22 are summarised below:
- Our Schools Programme activity increased by 18% enabling us to deliver 4,300 sessions in 20 special schools and colleges, reaching in excess of 1,200 uoung people with disabilities per week (i.e. 38,731 interactions per academic year).
- Support from several Trusts and Foundations include The **Peter Sowerby Foundation** (£9,735); **Level Arts** (£500); The **Warwick Institute of Engagement** (£1,000) and The **Elmley Foundation** (£5,000). Other public investment includes: **Coventry City of Culture** programme (£110,000); **Coventry City Council** (£24,666) and **Coventry Business District** (£6,000); **The British Council** (£15,000); **The Dutch Embassy** (£8,865); **Commonwealth Games/Birmingham 2022 Festival** (£34,310) plus additional **Arts Council of England** project funding (£97,502). This enabled the delivery of a substantive programme of bespoke residencies, projects, training sessions and partnerships reaching in excess of 1,900 participants in a range of communities in and beyond the West Midlands Region.
- Our Regular Group programmes were re-instated post lock-down and the demand for engagement with new groups across the region also increased:
- _**One of A Kind** (OOAK) (Average: 15-20 participants weekly)_
- _**Friday Group** (Average: 7 participants weekly)_
- _**Open mac** (8-10 families with children on the Autistic Spectrum, weekly sessions with siblings also joining in sessions)_
- 1 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **DIRECTORS' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Financial review**
The charity's main criteria for investments is to ensure the security of funds, therefore the company funds are held on deposit at a major high street bank.
The directors report the performance of the charity in the year to be as follows: resources expended exceeded incoming resources by £108,269 (2021 incoming resources exceeded expenditure by £57,724). Of this £25,533 related to restricted activities (2021 - incoming £6,167 related to restricted activities). The deficit arose from a planned expansion having regard to the available brought forward reserves, preparation of major projects and an application to Arts Council England for next stage funding of significantly increased annual value (three times that previously awarded). We were successful in receiving an offer of funding from Arts Council England as detailed in their statement published 4 November 2022.
Against the backdrop of the effects of the Coronavirus pandemic, new partnership funding being made available through City of Culture and the Commonwealth Games in particular, competition for funding was extremely high fuelling insecurities over funding for the arts sector generally.
Funding streams from Trusts and Foundations were (and continue to be) over-subscribed. The impact of the Coronavirus Pandemic for the company was also evident in real terms within the year in terms of the availability of spaces to work and staffing (PAYE and freelance) for projects and operational functions. This resulted in the need to draw upon company reserves to continue to deliver our obligations and ensure the best quality of provision.
Nevertheless, the company managed to develop and sustain the delivery of major, new and exciting programmes of work, affecting change and and transformation for the lives of many children and young people with learning disabilities. The scale of the company's operation significantly increased over this time presenting challenges in terms of creating appropriate support structures both financial and for increased staffing levels whilst ensuring the quality, experience and talent of that workforce. in addition to this, initial planning took place to create a stronger foundation for the company to sustain itself at this level for the future particularly with reference to ongoing Arts Council England grant income which is due for renewal from April 2023.
## **Reserves Policy**
The Board of Trustees and management team continue to examine the company's requirements for reserves in light of the effects of 2021-22 financial picture and also main risks to the oranisation. At the close of 2021-22, the level of reserves available to the charitable company stands at a deficit of £33,735. The aim is to build back reserves to a level of between 3 and 6 months of the expenditure. The steps taken are as described in the going concern section, the Board of Trustees and the Management anticipate that we will reach that target over the next three years.
## **Going concern**
The Board were were mindful of the adverse financial position of the charitable entity and met to agree upon a series of emergency measures to be undertaken and devise an action plan to redress the position, including the possibility of having to re-consider staffing levels. The bid to the Arts Council England for the next round of funding under the National Portfolio Scheme was completed and an offer for the full amount requested was made in November 2022. Additional applications were made for funding from other sources resulting in securing awards for core funding in the order of £50,000. At the time of approving the financial statements the charity has sufficient resources to be able to fund activities for the next twelve months and on this basis the Board consider the going concern position of the charitable entity to be secured.
## **Structure, governance and management**
Open Theatre is a not-for-Profit charitable company limited by guarantee, incorporated on 12 December1984 and registered as a charity on 12 June 1985.
The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £10.
- 2 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **DIRECTORS' REPORT (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
The directors who served during the year and up to the date of signature of the financial statements were: M Guilfoyle R Hawley (Chair) H Blackwood M Rose M Smith J Vaughan L Greenwood Mr R Hayhow (Appointed 2 February 2022) C E Stubbs (Appointed 17 February 2022)
The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Memorandum and Articles of Association the members of the Management Committee are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
All member of the Management Committee give their time voluntarily and received no benefits from the charity.
In an effort to maintain a broad skill mix and also ensure that the Board better reflects the diversity of the region, individuals are being approached to offer themselves for election to the Board.
Most trustees are already familiar with the work of the charity in terms of the balance of delivery with our wider sector development remit. We are currently in the process of recruiting new trustees who will be provided with a full Induction process including the opportunity to meet with participants, staff members and see the work of the company in action.
None of the directors has any beneficial interest in the company.
The Charity is administered by the Board of Directors, who meet six times a year. The Board occasionally sets up a time-limited sub-group to develop work around certain issues, which are then brought back to the full Board for approval. Detailed programming and day to day matters are dealt with by the Artistic Director.
This report has been prepared taking advantage of the small companies exemption permitted by the Companies Act 2006.
Signed by order of the Board
**R Hawley (Chair)** Director
- 3 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **INDEPENDENT EXAMINER'S REPORT**
## **TO THE DIRECTORS OF THE OPEN THEATRE COMPANY LIMITED**
I report to the directors on my examination of the financial statements of The Open Theatre Company Limited (the Charity) for the year ended 31 March 2022.
## **Responsibilities and basis of report**
As the directors of the Charity (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).
Having satisfied myself that the financial statements of the Charity 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 the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of ICAEW, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
- 1 accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
- 2 the financial statements do not accord with those records; or
- 3 the financial statements 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 financial statements 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 financial statements to be reached.
## **Sarah Morley ACA for and on behalf of Kendall Wadley LLP**
Merevale House 27 Sansome Walk Worcester WR1 1NU
Dated: 30 January 2023
- 4 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Current financial year**
|**Unrestricted**
**Restricted**
**Total**
**funds**
**funds**
**2022**
**2022**
**2022**
**Notes**
**£**
**£**
**£**
**Income from:**
Donations and legacies
**3**
174,392
205,502
379,894
Activities in furtherance of the charity's objects
**4**
208,539
40,406
248,945
**Total income**
382,931
245,908
628,839
**Expenditure on:**
Raising funds
**5**
336
6,689
7,025
Charitable activities
**6**
458,763
271,320
730,083
**Total resources expended**
459,099
278,009
737,108
Gross transfers between funds
**10**
(6,568)
6,568
-
**Net (expenditure)/income for the year/**
**Net movement in funds**
(82,736)
(25,533)
(108,269)
Fund balances at 1 April 2021
9,118
65,416
74,534
**Fund balances at 31 March 2022**
(73,618)
39,883
(33,735)|Total
2021
**£**
338,580
126,116|
|---|---|
||464,696|
||1,080|
||405,892|
||406,972|
||-|
||57,724
16,810|
||74,534|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 5 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED) INCLUDING INCOME AND EXPENDITURE ACCOUNT**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **Prior financial year**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2021**
**2021**
**Notes**
**£**
**£**
**Income from:**
Donations and legacies
**3**
246,171
92,409
Activities in furtherance of the charity's objects
**4**
120,879
5,237
**Total income**
367,050
97,646
**Expenditure on:**
Raising funds
**5**
1,080
-
Charitable activities
**6**
367,495
38,397
**Total resources expended**
368,575
38,397
**Net (outgoing)/incoming resources before transfers**
(1,525)
59,249
Gross transfers between funds
**10**
(6,167)
6,167
**Net (expenditure)/income for the year/**
**Net movement in funds**
(7,692)
65,416
Fund balances at 1 April 2020
16,810
-
**Fund balances at 31 March 2021**
9,118
65,416|**Total**
**2021**
**£**
338,580
126,116|
|---|---|
||464,696|
||1,080
405,892|
||406,972|
||57,724
-|
||57,724
16,810|
||74,534|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.
- 6 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **BALANCE SHEET**
## _**AS AT 31 MARCH 2022**_
|**2022**
**2021**
**Notes**
**£**
**£**
**£**
**Fixed assets**
Tangible assets
**12**
255
**Current assets**
Debtors
**13**
29,984
39,427
Cash at bank and in hand
13,851
51,968
43,835
91,395
**Creditors: amounts falling due within**
**one year**
**14**
(77,825)
(17,679)
Net current (liabilities)/assets
(33,990)
**Total assets less current liabilities**
(33,735)
**Income funds**
Restricted funds
**15**
39,883
Unrestricted funds
(73,618)
(33,735)|**£**
818
73,716|
|---|---|
||74,534|
||65,416
9,118|
||74,534|
The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 March 2022. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the Directors on 30 January 2023
R Hawley (Chair) **Trustee**
**Company Registration No. 01871300**
- 7 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**Notes**
**Cash flows from operating activities**
Cash (absorbed by)/generated from
operations
**18**
**Investing activities**
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Net cash used in financing activities**
**Net (decrease)/increase in cash and cash**
**equivalents**
Cash and cash equivalents at beginning of year
**Cash and cash equivalents at end of year**|**2022**
**£**
**£**
(38,117)
-
-
-
(38,117)
51,968
13,851|**2021**
**£**
(768)|**£**
44,154
(768)
-
43,386
8,582
51,968|
|---|---|---|---|
- 8 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **Charity information**
The Open Theatre Company Limited is a private company limited by guarantee incorporated in England and Wales. The registered office is Daimler Powerhouse, Unit 4 Sandy Lane Business Park, Coventry, CV1 4DQ.
## **1.1 Accounting convention**
The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
## **1.2 Going concern**
The Board were were mindful of the adverse financial position of the charitable entity and met to agree upon a series of emergency measures to be undertaken and devise an action plan to redress the position, including the possibility of having to consider redundancies. The bid to the Arts Council England for the next round of funding under the National Portfolio Scheme was completed and was confirmed as successful in November 2022. Additional applications were made for funding from other sources resulting in securing awards for core funding in the order of £50,000. At the time of approving the financial statements the charity has sufficient resources to be able to fund activities for the next twelve months and on this basis the Board consider the going concern position of the charitable entity to be secured.Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
## **1.3 Charitable funds**
Unrestricted funds are available for use at the discretion of the directors in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors as to how they may be used.
## **1.4 Income**
Income is recognised when the Charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the Charity has been notified of the donation, unless performance conditions require deferral of the amount.
## **1.5 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably.
Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Resources expended are included in the Statement of Financial Activities on an accruals basis, inclusive of VAT which cannot be recovered. Liabilities are recognised as they occur. Expenditure is included within the category to which it relates.
- 9 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.6 Tangible fixed assets**
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Tangible fixed assets are stated at cost less depreciation. Items are capitalised where the purchase price exceeds £100. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Computer equipment 33% cost/25% of net book value Improvements to office 20% cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
## **1.7 Impairment of fixed assets**
At each reporting end date, the Charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
## **1.8 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, and deposits held at call with banks.
## **1.9 Financial instruments**
The Charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Charity's balance sheet when the Charity becomes party to the contractual provisions of the instrument.
## _**Basic financial assets**_
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised. Financial assets classified as receivable within one year are not amortised.
## _**Basic financial liabilities**_
Basic financial liabilities, including creditors are initially recognised at transaction price. Financial liabilities classified as payable within one year are not amortised.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the Charity’s contractual obligations expire or are discharged or cancelled.
## **1.10 Employee benefits**
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
- 10 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.11 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **2 Critical accounting estimates and judgements**
In the application of the Charity’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**general**
**2022**
**2022**
**£**
**£**
Donations and gifts
100
-
Grants awarded, ACE
and others
174,292
205,502
174,392
205,502|**Total**
Unrestricted
Restricted
funds
funds
general
**2022**
2021
2021
**£**
£
£
100
753
-
379,794
245,418
92,409
379,894
246,171
92,409|Total
2021
£
753
337,827|
|---|---|---|
|||338,580|
- 11 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**3**
**Donations and legacies**
**Grants receivable for**
**core activities**
Coventry City of Culture
Trust
National Lottery
(Heritage)
Peter Sowerby
Dutch Embassy
Party Animal & Tom n
Rob
Birmingham Hippodrome
Birmingham School of
Acting
Arts Admin ltd
Coventry City Council
ACE - National Portfolio
Organisations
The West Midlands
UnCOVer/DisCOVer City
of Culture
Behind Closed Doors
Digital Doorways
Jack Frogs
1961 Charitable Trust
Edward Vinson 1957
Heart of England COVID
10 grant
Warwickshire County
Council COVID 19 grant
Paul Hamlyn Foundation
COVID 19 grant
Culture Central Ltd
COVID 19 grant
Job Retention Scheme|-
-
-
-
-
-
-
-
14,666
152,760
2,866
-
-
-
4,000
-
-
-
-
-
-
-
174,292|56,500
24,900
9,735
8,865
-
-
-
8,000
-
97,502
-
-
-
-
-
-
-
-
-
-
-
-
205,502|56,500
24,900
9,735
8,865
-
-
-
8,000
14,666
250,262
2,866
-
-
-
4,000
-
-
-
-
-
-
379,794|-
-
-
-
-
2,000
3,000
-
16,833
152,760
-
-
-
-
-
4,000
1,000
1,500
9,981
18,500
2,400
33,444
245,418|**(Continued)**
-
-
-
-
-
-
-
-
16,200
16,200
-
2,000
-
3,000
-
-
-
16,833
-
152,760
-
-
20,000
20,000
3,500
3,500
52,709
52,709
-
-
-
4,000
-
1,000
1,500
-
9,981
-
18,500
-
2,400
33,444
92,409
337,827|**(Continued)**
-
-
-
-
-
-
-
-
16,200
16,200
-
2,000
-
3,000
-
-
-
16,833
-
152,760
-
-
20,000
20,000
3,500
3,500
52,709
52,709
-
-
-
4,000
-
1,000
1,500
-
9,981
-
18,500
-
2,400
33,444
92,409
337,827|
|---|---|---|---|---|---|---|
|||||||337,827|
- 12 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **4 Activities in furtherance of the charity's objects**
|Performance fees and workshop income
Analysis by fund
Unrestricted funds - general
Restricted funds
**For the year ended 31 March 2021**
Unrestricted funds - general
Restricted funds|**2022**
**£**
248,945
208,539
40,406
248,945|**2021**
**£**
126,116|
|---|---|---|
|||120,879
5,237|
|||126,116|
## **5 Raising funds**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Fundraising and publicity
Other fundraising costs
336
6,689
336
6,689|**Total**
Unrestricted
funds
**2022**
2021
**£**
£
7,025
1,080
7,025
1,080|**Total**
Unrestricted
funds
**2022**
2021
**£**
£
7,025
1,080
7,025
1,080|
|---|---|---|
|||1,080|
- 13 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **6 Charitable activities**
|**Performance**
**fees and**
**expenses**
**UnCOVer/**
**disCOVer**
**Tom & Rob,**
**Party Animal**
**Hansel and**
**Gretel**
**Behind closed**
**doors**
**Digital**
**Doorways**
**£**
**£**
**£**
**£**
**£**
**£**
Staff costs
340,694
20,400
-
-
-
-
Depreciation and impairment
563
-
-
-
-
-
Artistic director
46,125
-
-
-
-
-
Associates, artists and trainers
24,073
64,226
15,151
-
-
-
Educational activity
-
1,727
-
-
-
-
Travel and subsistence
20,595
2,368
440
-
-
-
Professional Fees
-
-
-
-
-
-
Conference costs
-
-
-
-
-
-
Covid-19 recovery expenditure
-
-
-
-
-
-
Bursaries
1,170
-
-
-
-
-
433,220
88,720
15,591
-
-
-
Share of support costs (see note 8)
11,411
1,488
14
-
-
-
Share of governance costs (see note 8)
14,132
-
-
-
-
-
458,763
90,208
15,605
-
-
-|**Other**
**Project**
**Funds**
**£**
44,741
-
-
83,873
18,325
4,026
10,060
-
-
-
161,025
4,482
-
165,507|**Total**
**2022**
**£**
405,835
563
46,125
187,323
20,052
27,429
10,060
-
-
1,170
698,556
17,395
14,132
730,083|**Total**
**2021**
**£**
256,316
1,022
44,831
48,442
26,630
1,103
-
(130)
3,400
-
381,614
12,553
11,725
405,892|
|---|---|---|---|
- 14 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **6 Charitable activities**
|**Charitable activities**
**Analysis by fund**
Unrestricted funds - general
458,763
-
-
-
-
-
-
Restricted funds
-
90,208
15,605
-
-
-
165,507
458,763
90,208
15,605
-
-
-
165,507
**For the year ended 31 March 2021**
**Performance**
**fees and**
**expenses**
**UnCOVer/**
**disCOVer**
**Tom & Rob,**
**Party Animal**
**Hansel and**
**Gretel**
**Behind closed**
**doors**
**Digital**
**Doorways**
**Silent**
**Treatment**
Unrestricted funds - general
367,495
-
-
-
-
-
-
Restricted funds
-
16,404
10,530
6,167
2,152
3,144
-
367,495
16,404
10,530
6,167
2,152
3,144
-|**(Continued)**
458,763
271,320
730,083
367,495
38,397
405,892|**(Continued)**
458,763
271,320
730,083
367,495
38,397
405,892|
|---|---|---|
|||405,892|
- 15 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**7**
**Analysis of Other Project Funds**
**Unbounded Beyond the**
**Trees**
**Jack's**
**Frogs**
**Ronnie &**
**Johnny's**
**£**
**£**
**£**
**£**
Staff costs
6,928
-
16,195
6,283
Associates, artists and trainers
13,848
8,515
9,162
10,532
Educational activity
5,625
1,000
-
-
Travel and subsistence
87
38
-
150
Professional Fees
4,000
-
1,050
-
30,488
9,553
26,407
16,965
Share of support costs (see note 8)
29
-
618
1,585
30,517
9,553
27,025
18,550|**Common**
**Wealth**
**£**
7,450
-
900
-
5,010
13,360
-
13,360|**Space to**
**Explore**
Total
2022
**£**
**£**
7,885
44,741
41,816
83,873
10,800
18,325
3,751
4,026
-
10,060
64,252
161,025
2,250
4,482
66,502
165,507|**Space to**
**Explore**
Total
2022
**£**
**£**
7,885
44,741
41,816
83,873
10,800
18,325
3,751
4,026
-
10,060
64,252
161,025
2,250
4,482
66,502
165,507|
|---|---|---|---|
||||161,025
4,482|
||||165,507|
- 16 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
|**8**
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Computer costs
4,002
-
Administrative expenses
11,276
-
Insurance
2,116
-
Accountancy
-
14,132
17,394
14,132
Analysed between
Charitable activities
17,394
14,132|**2022**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
**£**
4,002
3,884
-
11,276
6,463
-
2,116
2,206
-
14,132
-
11,725
31,526
12,553
11,725
31,526
12,553
11,725|**2021**
**£**
3,884
6,463
2,206
11,725|
|---|---|---|
|||24,278|
|||24,278|
Governance costs includes amounts due to Kendall Wadley LLP of £1,320 (2021- £1,320) for fees in connection with the independent examination.
## **9 Directors**
During the year, 0 directors (2021 - 0) were refunded expenses (2021 - £nil).
## **10 Transfers**
During the year under review and the preceding year, transfers were made from unrestricted funds to restricted funds to cover restricted expenditure on completed projects.
- 17 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **11 Employees**
## **Number of employees**
The average monthly number of employees during the year was:
|Executive Director
Associate Director
Associate (Business & Policies)
Administrator and other
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2022**
**Number**
1
1
1
18
21
**2022**
**£**
411,725
30,096
10,139
451,960|**2021**
**Number**
1
1
1
11|
|---|---|---|
|||14|
|||**2021**
**£**
278,769
18,203
5,469|
|||302,441|
There were no employees whose annual remuneration was £60,000 or more.
## **12 Tangible fixed assets**
|**Computer**
**equipment**
**Improvements**
**to office**
**£**
**£**
**Cost**
At 1 April 2021
6,095
5,546
At 31 March 2022
6,095
5,546
**Depreciation and impairment**
At 1 April 2021
5,277
5,546
Depreciation charged in the year
563
-
At 31 March 2022
5,842
5,546
**Carrying amount**
At 31 March 2022
255
-
At 31 March 2021
818
-|**Total**
**£**
11,641|
|---|---|
||11,641|
||10,823
563|
||11,388|
||255|
||818|
- 18 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **13 Debtors**
|**Debtors**|||
|---|---|---|
|**Amounts falling due within one year:**
Trade debtors
Prepayments and accrued income|**2022**
**£**
29,540
444
29,984|**2021**
**£**
39,109
318|
|||39,427|
## **14 Creditors: amounts falling due within one year**
|**Creditors: amounts falling due within one year**|||
|---|---|---|
|Other taxation and social security
Trade creditors
Other creditors
Accruals and deferred income|**2022**
**£**
26,327
36,291
7,221
7,986
77,825|**2021**
**£**
7,372
4,531
1,769
4,007|
|||17,679|
- 19 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **15 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**r**
Digital Doorways/Unbounded
Hansel and Gretel
Party Animal & Tom n Rob
UnCOVer/ DisCOVer
Behind Closed Doors
Space to Explore
Jack's Frogs
Beyond The Trees
Ronnie & Johnny
Commonwealth Games|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
52,709
(3,144)
-
(6,167)
16,200
(10,530)
25,237
(16,404)
3,500
(2,152)
-
-
-
-
-
-
-
-
-
-
97,646
(38,397)|**Transfers**
**Balance at**
**1 April 2021**
**r**
**£**
**£**
-
49,565
6,167
-
-
5,670
-
8,833
-
1,348
-
-
-
-
-
-
-
-
-
-
6,167
65,416|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
(31,766)
-
-
3,685
(15,605)
95,755
(90,672)
-
-
77,596
(69,628)
29,525
(27,025)
9,735
(10,053)
19,612
(19,150)
10,000
(14,110)
245,908
(278,009)|**Transfers**
**Balance at**
**31 March**
**2022**
**£**
**£**
-
17,799
-
-
6,250
-
-
13,916
-
1,348
-
7,968
-
2,500
318
-
-
462
-
(4,110)
6,568
39,883|
|---|---|---|---|---|
- 20 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **15 Restricted funds**
**(Continued)**
Digital Doorways - funding received via the National Lottery Community Project Fund as a response to the Covid-19 pandemic and a need to reach children and young people with learning disabilities and their families. The project completed in July 2021.
Hansel and Gretel – national tour from Feb to May 2020, to 12 venues in partnership with Birmingham Hippodrome and MBD, funded by donations from Garfield Weston Foundation, D’Oyly Carte Charitable Trust and Sir Barry Jackson Trust. The national tour was cancelled in March 2020 because of Covid-19 after performing at 4 venues.
The Party Animal is a radio play written by Madeleine Levy and performed by seven actors on the Autistic Spectrum. The radii play was broadcast on Switch Radio and the whole project was developed in partnership with Alternative Voices, supported by Switch Radio and funded by Arts Council England.
Tom N Rob: Break Free is a captivating duet of comedic dance theatre, created by talent and friendship in its purest form and devised and performed by two dancers, one with and one without a learning disability. Funded by Arts Council England, performed at Birmingham Hippodrome.
UnCOVer /DisCOVer project is our major Coventry City of Culture Programme of work for 2021-22 which is made up of 3 streams: _**Water Water Everywhere, Frogs & Suchlike and River City Detectives**_ . The Uncover Discover Project is a catalyst for reinvigorating our work with Coventry Special Schools and a framework to increase funding investment into creative work with young people with learning disabilities within the city.
- 21 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **15 Restricted funds**
**(Continued)**
Behind Closed Doors - Jake Jarvis was awarded a bursary to create a project engaging 15 children and young people with learning difficulties to explore the extent digital technology can be used to enhance the role of artistic development and strong human connection and mentorship fpr children and young people with learning disabilities.
Space to Explore - a major Arts Council of England funded project to enrich our non-verbal physical theatre practice and performance aesthetics through a programme of artistic residencies with internationally renowned artists such as The Ashton Brothers (Netherlands), Clownmania with Angela De Castro **.**
"Jack's Frogs" - Formed part of our major Coventry City of Culture programme by engaging and developing his unique idea by emerging artist Jack Foulks inspired by uncovering the River Sherbourne. This visual and public art project evolved into a major city project involving a frog trail, large-scale frog sculptures and an exhibition.
Beyond the Trees - was Open Theatre's pilot immersive outdoor production created specifically by and for young people with learning disabilities (YPWLD), kindly supported by the Peter Sowerby Foundation which took place in Birmingham's Martineau Gardens at the end of a second national lockdown due to Covid 19. The project engaged seven young people with learning disabilities in paid performance roles and engaged audiences of over 80 people including local families with children with learning disabilities
Ronnie & Johnny - The production of a new, three episode short film situation comedy written by disabled artist Rob Bate, filmed by Sean Bould. _Ronnie and Johnny_ tells the story of two friends with disabilities and their unique adventures. Episode three received an honourable mention at the Birmingham Film Awards in 2021.
Commonwealth Games - Commissioned by Birmingham 2022 Festival and funded by the British Council,"Wantok" is a collaboration by Open Theatre with artists from _Mama Dojo_ , Australia and _Enspire_ , Papua New Guinea. Forming the first phase of this major project. Children and young people from Birmingham Special Schools engaged in a special workshop programme as part of the Commonwealth Games Cultural programme in preparation for the 2022 Games.
- 22 -
## **THE OPEN THEATRE COMPANY LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 MARCH 2022**_
## **16 Analysis of net assets between funds**
|**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 31
March 2022 are
represented by:
Tangible assets
255
-
Current assets/(liabilities)
(73,873)
39,883
(73,618)
39,883|**Total**
Unrestricted
funds
Restricted
funds
**2022**
2021
2021
**£**
£
£
255
818
-
(33,990)
8,300
65,416
(33,735)
9,118
65,416|Total
2021
£
818
73,716|
|---|---|---|
|||74,534|
## **17 Related party transactions**
## **Remuneration of key management personnel**
The key management personnel is deemed to be the artistic director, employment costs total £51,270 (2021 - £49,805).
|**18**
**Cash generated from operations**
**2022**
**£**
(Deficit)/surpus for the year
(108,269)
Adjustments for:
Depreciation and impairment of tangible fixed assets
563
Movements in working capital:
Decrease in debtors
9,443
Increase/(decrease) in creditors
60,146
(Decrease) in deferred income
-
**Cash (absorbed by)/generated from operations**
(38,117)|**2021**
**£**
57,724
1,022
37,590
(46,945)
(5,237)|
|---|---|
||44,154|
- 23 -