| 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 of cash flows |
13 | |||
| Notes to the financial | statements | 14-26 |
| Restricted | Unrestricted | Total | Total | |||||
|---|---|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||||
| 2022 | 2022 | 2022 | 2021 | |||||
| Note | 5 | F | 5 | F | ||||
| Income from: | ||||||||
| Donations and legacies |
4 | 1,060,335 | 1,060,335 | 4,560,644 | ||||
| Investments | 5 | 10,386 | 419,591 | 429,977 | 465,367 | |||
| Total income | 1,070,721 | 419,591 | 1,490,312 | 5,026,011 | ||||
| Expenditure on: |
||||||||
| Raising funds | 6 | 342,258 | 342,258 | 288,988 | ||||
| Charitable activities |
7 | 1,818,805 | 499,826 | 2,318,631 | 3,660,637 | |||
| Total expenditure | 1,818,805 | 842,084 | 2,660,889 | 3,949,625 | ||||
| Net (expenditure)/income | before net | |||||||
| (losses)/gains on |
investments | (748,084) | (422,493) | (1,170,577) | 1,076,386 | |||
| Realised gains/(losses) on |
investments | (253) | 512,885 | 512,632 | 516,165 | |||
| Net movement in |
funds before other | |||||||
| recognised gains/(losses) |
(748,337) | 90,392 | (657,945) | 1,592,551 | ||||
| Other recognised | gains/(losses): | |||||||
| (Losses)/gains on |
revaluation | offixed | ||||||
| asset investments | (24,012) | (2,642,454) | (2,666,466) | 674,302 | ||||
| Net movement in |
funds | (772,349) | (2,552,062) | (3,324,411) | 2,266,853 | |||
| Reconciliation of |
funds: | |||||||
| Total funds brought | forward | 1,648,630 | 5,474,794 | 7,123,424 | 4,856,571 | |||
| Net movement in funds |
(772,349) | (2,552,062) | (3,324,411) | 2,266,853 | ||||
| Total funds carried forward | 13 | 876,281 | 2,922,732 | 3,799,013 | 7,123,424 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| Note | F | F | ||||||
| Fixed assets | ||||||||
| Investments | 10 | 14,560,483 | 16,917,859 | |||||
| 14,560,483 | 16,917,859 | |||||||
| Current assets | ||||||||
| Debtors | 421 | 403 | ||||||
| Cash at bank | and | in hand | 713,525 | 1,525,456 | ||||
| 713,946 | 1,525,859 | |||||||
| Creditors: amounts | falling | due within one | ||||||
| year | 12 | (11,475,416) | (11,320,294) | |||||
| Net current | liabilities | (10,761,470) | (9,794,435) | |||||
| Total assets | less | current | liabilities | 3,799,013 | 7,123,424 | |||
| Total net assets | 3,799,013 | 7,123,424 | ||||||
| Charity funds | ||||||||
| Restricted funds |
13 | 876,281 | 1,648,630 | |||||
| Unrestricted | funds | 13 | 2,922,732 | 5,474,794 | ||||
| Total funds | 3,799,013 | 7,123,424 |
| 2022 | 2021 | ||||
|---|---|---|---|---|---|
| Note | 5 | F | |||
| Cash flows from operating activities |
|||||
| Net cash | used in operating activities |
15 | (1 445 450) | 744 127 | |
| Cash flows from investing activities |
|||||
| Dividends, | interests and rents from investments |
429,977 | 465,367 | ||
| Proceeds | from sale of investments | 2,879,570 | 2,908,153 | ||
| Purchase | of investments | (2,671,844) | (3,056,697) | ||
| Net cash | provided by investing activities |
637,703 | 316,823 | ||
| Change | in cash and cash equivalents in |
the year | (807,747) | 1,060,950 | |
| Cash and | cash equivalents at the beginning |
ofthe year | 1,773,457 | 712,507 | |
| Cash and cash equivalents at the end of |
the year | 16 | 965,710 | 1,773,457 | |
| The notes on pages 14to 26 form part ofthese financial statements |
| Restricted | Unrestricted | Total | Total | |
|---|---|---|---|---|
| funds | funds | funds | funds | |
| 2022 | 2022 | 2022 | 2021 | |
| 8 | F | F | F | |
| Donations | 1,060,335 | 1,060,335 | 4,560,644 | |
| Total 2021 | 4,549,788 | 10,856 | 4,560,644 |
| Restricted | Unrestricted | Total | Total | |||
|---|---|---|---|---|---|---|
| funds | funds | funds | funds | |||
| 2022 8 |
2022 | 2022f | 2021 | |||
| Dividends | and interest receivable | from listed | ||||
| investments | 10,386 | 419,580 | 429,966 | 465,367 | ||
| Bank interest receivable | 11 | 11 | ||||
| 10,386 | 419,591 | 429,977 | 465,367 | |||
| Total 2021 | 13,806 | 451,561 | 465,367 |
| Unrestricted | Total | Total | ||||
|---|---|---|---|---|---|---|
| funds | funds | funds | ||||
| 2022f | 2022 F |
2021 | ||||
| Loan interest | payable | 278,750 | 278,750 | 223,000 | ||
| Investment | management | charges | 63,508 | 63,508 | 65,988 | |
| 342,258 | 342,258 | 288,988 | ||||
| Total 2021 | 288,988 | 288,988 |
| Activities | ||||
|---|---|---|---|---|
| undertaken | Total | Total | ||
| directly | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| Charitable activities |
2,318,631 | 2,318,631 | 3,660,637 | |
| Total 2021 | 3,660,637 | 3,660,637 | ||
| Analysis ofdirect costs |
||||
| Charitable | Total | Total | ||
| activities | funds | funds | ||
| 2022 | 2022 | 2021 | ||
| F | F | F | ||
| Theatre Artist | Fund grants | 1,671,000 | 1,671,000 | 3,163,500 |
| Olivier bursaries | 68,873 | 68,873 | ||
| Grants to institutions | 451,902 | 451,902 | 469,946 | |
| Theatre Artists | Fund costs | 8,851 | 8,851 | 25,335 |
| Miscellaneous | expenses | 3,200 | 3,200 | 1,856 |
| Theatre Artists | Fund placements | 114,805 | 114,805 | |
| 2,318,631 | 2,318,631 | 3,660,637 | ||
| Total 2021 | 3,660,637 | 3,660,637 |
| 2022 | 2021 | |||||||
|---|---|---|---|---|---|---|---|---|
| F | 5 | |||||||
| Go Live | Theatre Proiects | 50,000 | 25,000 | |||||
| Theatre | Investment Fund |
Limited | (I/a Stage One) | 97,326 | 97,239 | |||
| UK Theatre Association | 80,000 | 80,000 | ||||||
| National | Student Drama Festival |
25,000 | 25,000 | |||||
| Society | of London Theatre | - Workforce | Training | & Development | 116,631 | 60,784 | ||
| Society | of London Theatre | - Access London Theatre | 420 | 3,200 | ||||
| Parents | in Performing Arts |
2,000 | ||||||
| UK Theatre Association —Theatre | Support Line | 16,464 | 17,947 | |||||
| Society | of London Theatre | - Back | on Stage / See it Safely | 45,639 | 114,447 | |||
| Council | for Dance and Musical Theatre | 3,284 | 3,236 | |||||
| UK Theatre Association —Subscription | Support | 33,115 | ||||||
| Parents | in Performing Arts |
—Remote Working | Toolkit | 7,500 | ||||
| Writers' | Guild ofGreat Britain —New Play Commission | Scheme | 10,000 | |||||
| Dancers | Career Development | 6,000 | ||||||
| Other Grants to Institutions | 1,138 | 478 | ||||||
| 451,902 | 469,946 |
| Listed | Other | |||
|---|---|---|---|---|
| investments | investments | Total | ||
| 6 | F | |||
| Cost or valuation | ||||
| At 1 January 2022 Additions |
16,669,858 2,671,844 |
248,001 (2,671,844) |
16,917,859 | |
| Transfers out Disposals |
(2,879,570) | (570,000) 2,879,570 |
(570,000) | |
| I oss on revaluations Profit on disposal |
(2,666,466) 512,632 |
(2,666,466) 512,632 |
||
| Management charges |
(63,508) | (63,508) | ||
| Investment income reinvested |
429,966 | 429,966 | ||
| At 31 December 2022 | 14,308,298 | 252,185 | 14,560,483 | |
| Net book value | ||||
| At 31 December 2022 | 14,308,298 | 252,185 | 14,560,483 | |
| At 31 December 2021 | 16,669,858 | 248,001 | 16,917,859 | |
| 11. | Debtors | |||
| 2022 | 2021 | |||
| 6 | ||||
| Due within one year | ||||
| Prepayments and accrued income |
421 | 403 | ||
| 421 | 403 |
| 2022 6 |
2021f | ||
|---|---|---|---|
| Other creditors | 11,176,634 | 11,282,691 | |
| Accruals and deferred | income | 298,782 | 37,603 |
| 11,475,416 | 11,320,294 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at 1 | 31 | ||||||
| January | Gains/ | December | |||||
| 2022f | Income F |
Expenditure | (Losses) | 2022 6 |
|||
| Unrestricted funds |
|||||||
| General | Funds | - all funds | 5,474,794 | 419,591 | (842,084) | (2,129,569) | 2,922,732 |
| Restricted funds | |||||||
| The Sir Peter and Lady | |||||||
| Saunders | Olivier Bursary Fund | 297,819 | 10,386 | (10,000) | (24,265) | 273,940 | |
| Theatre | Artists | Fund | 1,350,811 | 844 024 | (1 671 000) | 523,835 | |
| Theatre | Artists | Fund | |||||
| Placements | 193,311 | (114,805) | 78,506 | ||||
| Olivier bursary | 23,000 | (23,000) | |||||
| 1,648,630 | 1,070,721 | (1,818,805) | (24,265) | 876,281 | |||
| Total of | funds | 7,123,424 | 1,490,312 | (2,660,889) | (2,153,834) | 3,799,013 |
| Balance at | |||||||
|---|---|---|---|---|---|---|---|
| Balance at | 31 | ||||||
| 1 January | Gains/ | December | |||||
| 2021 | Income | Expenditure | (Losses) | 2021 | |||
| 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 |
| Analysis | of net ass | ets | betwe | en f |
unds - | cur | re | nt y | ear | ||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted | Unrestricted | Total | |||||||||||
| funds | funds | funds | |||||||||||
| 2022 | 2022 | 2022 | |||||||||||
| 6 | 6 | ||||||||||||
| Fixed asset investments | 283,940 | 14,276,543 | 14,560,483 | ||||||||||
| Current assets | 592,341 | 121,605 | 713,946 | ||||||||||
| Creditors | due within | one | year | (11,475,416) | (11,475,416) | ||||||||
| Total | 876,281 | 2,922,732 | 3,799,013 | ||||||||||
| Analysis | ofnet assets between funds - prior | year | |||||||||||
| Restricted | Unrestricted | Total | |||||||||||
| funds | funds | funds | |||||||||||
| 2021 | 2021 | 2021 | |||||||||||
| 6 | F | 6 | |||||||||||
| 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 | ||||||||||
| 15. | Reconciliation of net movement |
in funds to | net | cash flow | from operating | activities | |||||||
| 2022 | 2021 | ||||||||||||
| F | |||||||||||||
| Net income/expenditure |
for | the | year | (as | per | Statement | of Financial | ||||||
| Activities) | (657,945) | 1,592,551 | |||||||||||
| Adjustments for: |
|||||||||||||
| Dividends, | interests | and | rents | from investments | (429,977) | (465,367) | |||||||
| Profit on the sale of | fixed assets | (512,632) | (516,165) | ||||||||||
| Increase | in debtors | (18) | (403) | ||||||||||
| Increase | in creditors | 155,122 | 133,511 | ||||||||||
| Net cash | provided | by/(used | in) operating | activities | (1,445,450) | 744,127 |
| 2022 | 2021 | |||
|---|---|---|---|---|
| Cash Cash |
in hand held by investment |
managers | 713,525 252,185 |
1,525,456 248,001 |
| Total | cash and cash equivalents | 965,710 | 1,773,457 |
| At 31 | |||||||||
|---|---|---|---|---|---|---|---|---|---|
| At | 1 January | December | |||||||
| 2022 f |
Cash flows | 2022f | |||||||
| Cash | at | bank | and | in | hand | 1,525,456 | (811,931) | 713,525 | |
| 1,525,456 | (811,931) | 713,525 |