## ## |Trustees||||||||| |---|---|---|---|---|---|---|---|---| ||||Z. Ashcroft|||||| ||||L Carlston|||||| ||||L.Chantal|||||| ||||C.Cook (Resigned 27 June 2022)|||||| ||||O. Ewedami|||||| ||||V.Fiatpatrick|(Appointed||26|September 2022)|| ||||D.Gelon|||||| ||||R.Hogarth|||||| ||||M.John|||||| ||||R.Johnson (Chair, Appointed||||26June 2023)|| ||||S.Joshi (Appointed||26September 2022)|||| ||||J.Lu (Appointed 26||September 2022)|||| ||||lvl. Truernan|(Appointed||26 September 2022)||| ||||M. Whitlum-Cooper||(interim||Chair, Resigned|26June 2023)| ||||M. Whittaker|||||| |Key management|||Dr. LFranke|- Managing||Director||| ||||E.Roberts - Dean (Resigned||||31August, 2023)|| ||||B.Naylor —Dean (Appointed||||I September 2023)|| ||||H. Ainsworth|FCA —Finance|||Director (resigned November 2022)|| ||||R.Paul FCCA —Finance|||Director (appointed||January 2023)| |Registered|and Principal|office|14Gloucester|Gate||||| ||||Regents Park|||||| ||||London|||||| ||||NWI 4HG|||||| |Auditor|||RSM UK Audit LLP|||||| ||||Chartered
Accountants|||||| ||||Portland|||||| ||||25 High Street|||||| ||||Crawley|||||| ||||West Sussex|||||| ||||RH10 1BG|||||| |Bankers|||Virgin Money|||||| ||||154
158Kensington||High Street|||| ||||London|||||| ||||W8 7RL|||||| |Solicitors||||||||| ||||Winston &Strawn London LLP|||||| ||||100Bishopsgate,|||||| ||||London|||||| ||||EC2N 4AG|||||| ||||RLS law|||||| ||||Suite 30-33|||||| ||||The Hop Exchange|||||| ||||24Southwark|Street||||| ||||London|||||| ||||SEl 1TY|||||| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## ||||Unrestricted|Unrestricted||Total|Total| |---|---|---|---|---|---|---|---| |||/vores|General|Designated|Restricted|2023|2022| |Income and Endowments|from:||||||| |Charitable
Activities: Fees received|||2,729,561|||2,729,561|1,635,289| |Investment
income||3|138,082|||138,082|167,806| |Other income|||200|21,000|11,084|32,284|28,519| |Total incoming resources|||2,867,843|21,000|11,084|2,899,927|1,831,614| |Expenditure
on charitable|||||||| |activities:|||||||| |Advancement
ofeducation||4|2,389,102|46,000|22,538|2,457,640|1,634,243| |Total resources expended|||2,389,102|46,000|22,538|2,457,640|1,634,243| |Net income/(expenditure)|and net||||||| |movement
in funds for the|year||||||| |||6|478,741|(25,000)|(11,454)|442,287|197,371| |Reconciliation offunds:|||||||| |Total funds brought
forward|||511,114|53,422|22,539|587,075|389,704| |Tots) funds carried forward||13,14|989,855|28,422|11,085|1,029,362|587,075| ## ## |||||||2023||2022| |---|---|---|---|---|---|---|---|---| |||||Notes||||| |FIXEDASSETS||||||||| |Tangible assets||||||51,320||46,531| |||||||51,320||46,531| |CURRENT ASSETS||||||||| |Debtors||||||754,811||551,703| |Cash at bank and in|hand|||||1,078,550||986,213| |||||||1,833,361||1,537,916| |CREDITORS:|amounts||fatling due|||||| ||within one year||||(730,319)||(922,372)|| |NET CURRENT ASSETS||||||1,103,042||615,544| |TOTAL ASSETSLESSCURRENT||||||||| |LIABILITIES||||||||| |||||||1,]54,362||662,075| |CREDITORS:|amounts||falling due|||||| |within one year||||10||(30,000)||(40,000)| |PROVISION FORLIABILITIES||||12||(95,000)||(35,000)| |NET ASSETS||||||1,029,362||587,075| |FUNDS OF THE CHARITY:||||||||| |Unrestricted
Funds:||||||||| |Unrestricted
general|fund|||||989,855||511,114| |Designated
Scholarship||Fund||||28,422||53,422| |Jtestricted Funds:||||||||| |Restricted Scholarship||Fund||||11,085||22,539| |TOTAL FUNDS||||13, 14||1,029,362||587,075| ## ## |||||||2023||2022| |---|---|---|---|---|---|---|---|---| |Cash flows from operating|activities:|||||||| |Net income forthe reporting|period|||||442,287||197,371| |Adjustments
for.||||||||| |Depreciation|||||13,762||12,820|| |Interest and rental income|||||(l38,082)||(167,806)|| |(Increase) in debtors|||||(203,108)||(447,650)|| |(Decrease) / Increase in creditors|||||(192,053)||812,702|| |Increase / (Decrease) in provision|||||60,000||(115,000)|| |Net cash used in operating|activities|||||(459&481)||95,066| |Cash flows from investing|activities:|||||||| |Interest receivable|||||1,788||190|| |Rental income|||||136,294||167,6]6|| |Purchase oftangible fixed assets|||||(18,551)||(54,009)|| |Net cash provided
by investing||activities||||119,531||113,797| |Cash flows from financing|activities:|||||||| |Bounceback loan|||||(10,000)|||| |Net cash provided
by financing||activities||||(10,000)||| |Change in cash and cash equivalents|||in the reporting|period||92,337||406,234| |Cash and cash equivalents|at 1stMay||||(i)|986,213||579,979| |Cash and cash equivalents|at30th April||||(i)|1,078,550||986,213| |(i)
Analysis ofchanges in|||net debt|||||| ||||At i|May|Cashfiows|Non|At 30|April| |||||2022||Cashflows||2023| |Cash and Cash Equivalents||||||||| |Cash|||986,2]3||92,337||1,078,550|| ||||986,213||92,337||1,078,550|| |Borrowings||||||||| |Debt due within one year|||(10,000)||10,000|(10,000)|(10,000)|| |Debt due oiler one year|||(40,000)|||10,000|(30,000)|| ||||(50,000)||10,000||(40,000)|| |Total|||936,213||102,337||1,038,550|| ## ## ## ## ## ## ## ## ## ## ## ## ## ## ## |3.|Investment|income| |---|---|---| ||Bank interest|receivable| ||Rental income|| |2023|2022| |---|---| |1,788|190| |136,294|]67,616| |138,082|167,806| |||| |---|---|---| |Charitable
activities|2023|2022| ||f.|| |Direct costs||| |Scholarships
and grants|203,183|99,146| |Accommodation|761,650|361,757| |College fees and rebates|13,077|| |Teachers|298,906|191,802| |Productions|100,709|90,856| |Excursions|46,]63|16,299| |Other course expenses|35,277|21,781| |Administrative
staff costs|327,547|235,180| |Properiy expenses|487,098|485,701| |Travel expenses|16,327|4,719| |Office costs|24,593|20,358| |Professional
fees|14,939|22,209| |Marketing|80,096|56,224| |Depreciation|13,762|12,820| |Bank &credit card charges|25,846|8,871| |Foreign exchange gain|(29,373)|(21,871)| |Other expenses|11,480|8,591| ||2,431,280|1,614,443| ## ## ## |Staffcosts aad Trustees'|remuneration||| |---|---|---|---| |||2023|2022| |Salaries||317,982|242,121| |Social security costs||29,652|21,792| |Pension costs||12,105|8,586| |||359,739|272,499| ## ## ## |6.|Net income/(expenditure)||for the|year||||| |---|---|---|---|---|---|---|---|---| ||Net income/(expenditure)||for the year is stated after charging;||||2023|2022| ||Operating
leases —property||rentals||||304,670|312,152| ||Depreciation||||||13,762|12,820| ||Auditor's
remuneration|—external||audit|||22,500|]9,800| ||Auditor's
remuneration|—non audit services|||||2,340|| |7.|Tangible fixed assets|||||||| ||||||||Equipment,|| |||||||Leasehohi|furniture|| |||||||costs|&fittings|Total| |||||||||f.| ||Cost:|||||||| ||At 1stMay 2022|||||49,522|42,894|92,416| ||Additions||||||18,551|18,551| ||At 30th April 2023|||||49,522|61,445|]10,967| ||Depreciation:|||||||| ||At 1stMay 2022|||||9,904|35,981|45,885| ||Charge for the year|||||9,904|3,858|13,762| ||At 30th April 2023|||||19,808|39,839|59,647| ||Net book values:|||||||| ||At 30th April 2023|||||29,714|21,606|51,320| ||At 1stMay 2022|||||39,618|6,913|46,531| |8.|Debtors: amounts
receivabie within one year||||||2023|2022| ||Sarah Lawrence College||||||]65,394|21,383| ||Prep ayments
and accrued
Fee debtors|income|||||588,664
753|530,320| ||||||||754,811|551,703| ||Sarah Lawrence College|accredits the London Theatre Programme|||and administers|the applications|process.|| |9.|Creditors: amounts
falling||due within one year||||2023|2022| ||Bank loans
Trade creditors
Taxation and social security
Fees invoiced in advance (see note
Accruals and deferred income
Other creditors|||11)|||10,000
468,166
5,586
160,241
77,830
8,495|10,000
401,000
11,138
426,153
68,692
5,390| ||||||||730,319|922,372| ## ## ## ## ## ||||| |---|---|---|---| |Creditors: amounts
falling due aft|er one year|2023|2022| |Bounceback loan —2 to 5years||30,000|40,000| |||30,000|40,000| |The loan was repaid in full on 27n September 2023.|||| |Fees invoiced
in advance||2023|2022| |Balance at 1stMay||426,153|27,539| |Fees invoiced in respect offollowing|year|160,241|398,614| |Released to Statement ofFinancial Activities||(426,153)|| |Balance at30"April||160,241|426,153| |Provision for liabilities and charges|2023|2022| |---|---|---| |Balance at 1stMay|35,000|150,000| |Charged to Statement ofFinancial Activities during the year|60,000|(1]5,000)| |Balance at 30th April|95,000|35,000| ||External|Dilapidation
s|Total| |---|---|---|---| ||redeco rations||| |At 1"lVlay 2022
Charged to Statement ofFinancial Activities|35,000
35,000|25,000|35,000
60,000| |At 30' April 2023|70,000|25,000|95,000| ## ## ## ## ## |onciliation|ofmoveme|nts
on funds||||| |---|---|---|---|---|---|---| |||||Movements|in resources|| ||||Balance 1st|Income|Expenditure|Balance at 30th| ||||May 2022|||April 2023| |Unrestricted|funds:|||||| |Unrestricted|General Fund||511,114|2,867,843|(2,389,102)|989,855| |Designated|Scholarship|fund|53,422|21,000|(46,000)|28,422| |Restricted Funds:||||||| |Restricted Scholarship||Fund|22,539|11,084|(22,538)|11,085| |Total|||587,075|2,899,927|(2,457,640)|1,029,362| ## |alysis ofnet assets between funds||||| |---|---|---|---|---| ||General|Schota rship|Restricted|Total| ||Fund|Fund|Fund|Funds| ||K|||| |Fixed assets|51,320|||51,320| |Current
assets|1,793,854|28,422|11,085|1,833,361| |Current liabilities|(730,319)|||(760,319)| |Provisions
and long term liabilities|(125,000)|||(95,000)| |Net assets at 30th April 2023|989,855|28,422|11,085|1,029,362| ||General|Scholarship|Restricted|Total| ||Fund|Fund|Fund|Funds| |Fixed assets|46,531|||46,531| |Current assets|1,461,955|53,422|22,539|1,537,916| |Current liabilities|(962,372)|||(962,372)| |Provisions|(35,000)|||(35,000)| |Net assets at 30th April 2022|511,114|53,422|22,539|587,075| ## ## ## |Operating
lease commitments|Operating
lease commitments||||2023|2022| |---|---|---|---|---|---|---| |The total future minimum|lease payments|under non-cancellable|operating|leases for||| |land and building
are:||||||| |within one year|||||333,334|308,333| |between one snd|five years||||933,333|1,266,667| |The total future minimum|rental income|under the sub-lease ofthe building||are:||| |within one year|||||107,333|99,273| |between one and|five years||||300,533|407,867| ## ## ##