| Page | ||||
|---|---|---|---|---|
| Reference and administrative | details ofthe company, | its Trustees and advisers | 1-2 | |
| Trustees' report |
3-6 | |||
| Independent auditors' |
report | on the financial statements | 7-10 | |
| Statement offinancial | activities | |||
| Balance sheet | 12 | |||
| Statement ofcash flows |
13 | |||
| Notes to the financial | statements | 14-26 |
| Trustees | Trustees | Nicholas Allott OBE |
Nicholas Allott OBE |
Nicholas Allott OBE |
||
|---|---|---|---|---|---|---|
| Kathryn Bennett |
||||||
| Kate Booth (resigned 31 March 2022) | ||||||
| Lounica Burns OBE (resigned 29 December 2021) | ||||||
| Jonathan Church |
OBE | |||||
| Lucy Davies | ||||||
| Alexander Gavin |
||||||
| Patrick Gracey (appointed 15December 2021) |
||||||
| Niove Janis | ||||||
| Rebecca Kane Burton (resigned 6 September 2021) | ||||||
| Eleanor Lloyd | ||||||
| Catherine Mallyon |
(resigned 29 December 2021) | |||||
| Jeremy Meadow | (resigned 29 December 2021) | |||||
| Patrick Murphy | ||||||
| Dafydd Rogers | ||||||
| Edward Snape | ||||||
| Adam Speers (resigned 29 December 2021) | ||||||
| Dame Rosemary | Squire | |||||
| Kenneth Wax | ||||||
| Company | registered | |||||
| number | 01928541 | |||||
| Charity | registered | |||||
| number | 292559 | |||||
| Registered | office | 32 Rose Street | ||||
| London | ||||||
| WC2E 9ET | ||||||
| Independent | auditors | Nyman Libson Paul |
LLP | |||
| Chartered Accountants |
||||||
| 124 Finchley Road | ||||||
| London | ||||||
| NW3 5JS |
| Restricted | Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | ||||
| Note | 2021 f |
2021 f |
2021f | 2020f | |||
| Income from: | |||||||
| Donations and legacies |
4 | 4,549,788 | 10,856 | 4,560,644 | 4,604,285 | ||
| Investments | 5 | 13,806 | 451,561 | 465,367 | 467,987 | ||
| Total income | 4,563,594 | 462,417 | 5,026,011 | 5,072,272 | |||
| Expenditure on: |
|||||||
| Raising funds | 6 | 288,988 | 288,988 | 62,218 | |||
| Charitable activities |
7 | 3,163,500 | 497,137 | 3,660,637 | 4,956,972 | ||
| Totai expenditure | 3,163,500 | 786,125 | 3,949,625 | 5,019,190 | |||
| Net Income/(expenditure) | before net | ||||||
| (losses)/gains on |
investments | 1,400,094 | (323,708) | 1,076,386 | 53,082 | ||
| Realised losses on | investments | (4,398) | 520,563 | 516,165 | (157,446) | ||
| Net movement in funds before other |
|||||||
| recognised gains/(losses) |
1,395,696 | 196,855 | 1,592,551 | (104,364) | |||
| Other recognised | gains/(losses): | ||||||
| (Losses)/gains on revaluation |
offixed | ||||||
| asset investments | (11,488) | 685,790 | 674,302 | (13,550) | |||
| Net movement in funds |
1,384,208 | 882,645 | 2,266,853 | (117,914) | |||
| Reconciliation offunds: |
|||||||
| Total funds brought | forward | 264,422 | 4,592,149 | 4,856,571 | 4,974,485 | ||
| Net movement in funds |
1,384,208 | 882,645 | 2,266,853 | (117,914) | |||
| Total funds carried | forward | 1,648,630 | 5,474,794 | 7,123,424 | 4,856,571 |
| BALANCE SHEET | BALANCE SHEET | |||||
|---|---|---|---|---|---|---|
| AS AT 31 | DECEMBER 2021 | |||||
| Note | 2021f | 2020f | ||||
| Fixed assets | ||||||
| Investments | 10 | 16,917,859 | 15,878,013 | |||
| 16,917,859 | 15,878,013 | |||||
| Current assets | ||||||
| Debtors | 403 | |||||
| Cash at bank | and | in hand | 1,525,456 | 165,341 | ||
| 1,525,859 | 165,341 | |||||
| Creditors: amounts | falling due within one | |||||
| year | 12 | (11,320,294) | (11,186,783) | |||
| Net current | liabilities | (9,794,435) | (11,021,442) | |||
| Total assets | less | current liabilities | 7,123,424 | 4,856,571 | ||
| Total net assets | 7,123,424 | 4,856,571 | ||||
| Charity funds | ||||||
| Restricted funds | 13 | 1,648,630 | 264,422 | |||
| Unrestricted | funds | 13 | 5,474,794 | 4,592,149 | ||
| Total funds | 7,123,424 | 4,856,571 |
| 2021 | 2020 | |||||
|---|---|---|---|---|---|---|
| Note | E | |||||
| Cash flows from operating | activities | |||||
| Net cash used in operating |
activities | 15 | 744,127 | (519,834) | ||
| Cash flows from investing | activities | |||||
| Dividends, interests and rents from investments |
465,367 | 467,987 | ||||
| Proceeds from sale of investments | 2,908,153 | 2,265,135 | ||||
| Purchase of investments | (3,056,697) | (2,073,258) | ||||
| Net cash provided by investing activities |
316,823 | 659,864 | ||||
| Change in cash and cash |
equivalents in |
the year | 1,060,950 | 140,030 | ||
| Cash and cash equivalents | at the beginning | of the year | 712,507 | 572,477 | ||
| Cash and cash equivalents | at the end of | the year | 16 | 1,773,457 | 712,507 | |
| The notes on pages 14to 26 form part ofthese financial | statements |
| Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2021 | 2021 | 2021 | 2020 | |
| E | f. | |||
| Donations | 4,549,788 | 10,856 | 4,560,644 | 4,604,285 |
| Total 2020 | 4,593,523 | 10,762 | 4,604,285 |
| Restricted | Unrestricted | Total | Total | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||||
| 2021 | 2021 | 2021 | 2020 | |||||||
| E | E | |||||||||
| Dividends | and interest receivable | from listed | ||||||||
| investments | 13,806 | 451,561 | 465,367 | 467,504 | ||||||
| Bank interest receivable | 483 | |||||||||
| 13,806 | 451,561 | 465,367 | 467,987 | |||||||
| Total 2020 | 12,723 | 455,264 | 467,987 | |||||||
| 6. | Expenditure | on raising | funds | |||||||
| Costs of raising voluntary | income | |||||||||
| Unrestricted | Total | Total | ||||||||
| funds | funds | funds | ||||||||
| 2021 | 2021 | 2020 | ||||||||
| E | ||||||||||
| Loan interest payable | 223,000 | 223,000 | ||||||||
| Investment | management | costs | 65,988 | 65,988 | 62,218 | |||||
| 288,988 | 288,988 | 62,218 | ||||||||
| Total 2020 | 62,218 | 62,218 |
| Activities | |||||
|---|---|---|---|---|---|
| undertaken | Total | Total | |||
| directly | funds | funds | |||
| 2021 | 2021f | 2020f | |||
| Charitable | activities | 3,660,637 | 3,660,637 | 4,956,972 | |
| Total 2020 | 4,956,972 | 4,956,972 | |||
| Analysis ofdirect costs | |||||
| Charitable | Total | Total | |||
| activities | funds | funds | |||
| 2021 | 2021 | 2020f | |||
| Theatre Artist | Fund grants | 3,163,500 | 3,163,500 | 4,629,000 | |
| Grants to institutions | 469,946 | 469,946 | 288,007 | ||
| COVID research | 12,400 | ||||
| Theatre Artists Fund costs | 25,335 | 25,335 | 26,913 | ||
| Miscellaneous | expenses | 648 | 648 | 532 | |
| Governance | costs | 1,208 | 1,208 | 120 | |
| 3,660,637 | 3,660,637 | 4,956,972 | |||
| Total2020 | 4,956,972 | 4,956,972 |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Mousetrap Theatre Projects |
25,000 | 25,000 | ||
| Theatre Investment Fund |
Limited | (t/a Stage One) | 97,239 | 13,012 |
| UK Theatre Association | 80,000 | 80,000 | ||
| Theatres Trust | 25,000 | |||
| National Student Drama |
Festival | 25,000 | 25,000 | |
| Diversity in Casting |
228 | 3,006 | ||
| Workforce Training 8 Development | 60,784 | 76,712 | ||
| Access London Theatre | 3,200 | 6,217 | ||
| Parents in Performing Arts |
2,000 | 1,000 | ||
| Theatre Helpline |
17,947 | 23,701 | ||
| Back on Stage / See it Safely | 114,447 | 6,123 | ||
| Council for Dance and Musical Theatre | 3,236 | 3,236 | ||
| UK Theatre Subscription | Support | 33,115 | ||
| Remote Working Toolkit |
7,500 | |||
| Other Grants to Institutions | 250 | |||
| 469,946 | 288,007 |
| Listed | Other | |||
|---|---|---|---|---|
| investments | investments | Total | ||
| F | E | F | ||
| Cost or valuation | ||||
| At 1 January 2021 | 15,330,847 | 547,166 | 15,878,013 | |
| Additions | 3,056,697 | (3,056,697) | ||
| Transfers out |
(550,000) | (550,000) | ||
| Disposals | (2,908,153) | 2,908,153 | ||
| Gain on revaluations | 674,302 | 674,302 | ||
| Profit on disposal | 516,165 | 516,165 | ||
| Management charges |
(65,988) | (65,988) | ||
| Investment income reinvested |
465,367 | 465,367 | ||
| At 31 December 2021 | 16,669,858 | 248,001 | 16,917,859 | |
| Net book value | ||||
| At 31 December 2021 | 16,669,858 | 248,001 | 16,917,859 | |
| At 31 December 2020 | 15,330,847 | 547,166 | 15,878,013 | |
| 11. | Debtors | |||
| 2021 | 2020 | |||
| Due within one year | ||||
| Prepayments and accrued income |
403 | |||
| 403 |
| 2021 | 2020 | ||
|---|---|---|---|
| E | F | ||
| Other creditors | 11,282,691 | 11,174,836 | |
| Accruals and deferred | income | 37,603 | 11,947 |
| 11,320,294 | 11,186,783 |
| Balance at | ||||||||
|---|---|---|---|---|---|---|---|---|
| Balance at 1 | 31 | |||||||
| January | Gains/ | December | ||||||
| 2021 | Income | Expenditure | (Losses) | 2021 | ||||
| P | F | |||||||
| Unrestricted | funds | |||||||
| General | Funds | 4,592,149 | 462,417 | (786,125) | 1,206,353 | 5,474,794 | ||
| Restricted funds | ||||||||
| The Sir Peter | and Lady | |||||||
| Saunders | Olivier Bursary | Fund | 299,899 | 13,806 | (15,886) | 297,819 | ||
| Theatre Artists | Fund | (35,477) | 4,549,788 | (3,163,500) | 1,350,811 | |||
| 264,422 | 4,563,594 | (3,163,500) | (15,886) | 1,648,630 | ||||
| Total of | funds | 4,856,571 | 5,026,011 | (3,949,625) | 1,190,467 | 7,123,424 |
| Stateme | nt of | funds - prior year | |||||
|---|---|---|---|---|---|---|---|
| Balance at | |||||||
| Balance at | 31 | ||||||
| 1 January | Gains/ | December | |||||
| 2020 | income | Expenditure | (Losses) | 2020 | |||
| F | F | ||||||
| Unrestricted | funds | ||||||
| General | Funds | 4,684,173 | 466,026 | (390,190) | (167,860) | 4,592,149 | |
| Restricted funds | |||||||
| The Sir Peter and Lady | |||||||
| Saunders | Olivier Bursary Fund | 290,312 | 12,723 | (3,136) | 299,899 | ||
| Theatre Artists | Fund | 4,593,523 | (4,629,000) | (35,477) | |||
| 290,312 | 4,606,246 | (4,629,000) | (3,136) | 264,422 | |||
| Total of | funds | 4,974,485 | 5,072,272 | (5,019,190) | (170,996) | 4,856,571 |
| Analysis | of net assets between funds - curre | nt year | ||
|---|---|---|---|---|
| Restricted | Unrestricted | Total | ||
| funds | funds | funds | ||
| 2021 | 2021 | 2021 | ||
| F | E | E | ||
| Fixed asset investments | 297,819 | 16,620,040 | 16,917,859 | |
| Current | assets | 1,350,811 | 175,048 | 1,525,859 |
| Creditors | due within one year | (11,320,294) | (11,320,294) | |
| Total | 1,648,630 | 5,474,794 | 7,123,424 |
| Restricted | Unrestricted | Total | |
|---|---|---|---|
| funds | funds | funds | |
| 2020 | 2020 | 2020 | |
| F | E | ||
| Fixed asset investments | 264,422 | 15,613,591 | 15,878,013 |
| Current assets | 165,341 | 165,341 | |
| Creditors due within one year | (11,186,783) | (11,186,?83) | |
| Total | 264,422 | 4,592,149 | 4,856,571 |
| 15. | Reconcili | ation of |
net movem | ent | in fun | ds | to ne | t cash flow | from operating | activities | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 2020 | ||||||||||
| F | |||||||||||
| Net income/expenditure for |
the | year | (as | per | Statement | of Financial | |||||
| Activities) | 1,592,551 | (104,364) | |||||||||
| Adjustments for: |
|||||||||||
| Dividends, | interests | and rents | from | investments | (465,367) | (467,987) | |||||
| Loss/(profit) on the |
sale offixed assets | (516,165) | 157,446 | ||||||||
| Increase | in debtors | (403) | |||||||||
| increase/(decrease) | in creditors | 133,511 | (104,929) | ||||||||
| Net cash | provided | by/(used | in) operating | activities | 744,127 | (519,834) | |||||
| 16. | Analysis | ofcash and cash equivalents |
| 2021 | 2020 | |||
|---|---|---|---|---|
| Cash | in hand | 1,525,456 | 165,341 | |
| Cash | held by investment | managers | 248,001 | 547,166 |
| Total | cash and cash equivalents | 1,773,457 | 712,507 |
| At 31 | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| At | 1 | January | December | |||||||
| 2021 | Cash flows | 2021 | ||||||||
| E | ||||||||||
| Cash | at | bank | and | in | hand | 165,341 | 1,360,115 | 1,525,456 | ||
| 165,341 | 1,360,115 | 1,525,456 |