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2021-03-31-accounts

Registered number: 02016836 Charity number: 294399

THEATRE PECKHAM

(A Company Limited by Guarantee)

FINANCIAL STATEMENTS FOR THE YEAR ENDED

31 MARCH 2021

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Company Information

Trustees A Domingo – Chair appointed 2 November 21
A R Devenish
S L I Manyonda
E I McKay
R J Preston
A Garrido Serrato
C J M Wilkinson
D W R Richards – appointed 26 June 20
N Brown – appointed 27 July 21
Company registered number 02016836
Charity registered number 294399
Registered office Theatre Peckham
221 Havil Street
London
SE5 7SB
Company secretary Ms A Hubbard – appointed 10 March 21
Chief executive officer Ms S McLean
Auditors Simpson Wreford LLP
Wellesley House
Duke of Wellington Avenue
Royal Arsenal
London SE18 6SS
Bankers Lloyds Bank plc
34 Moorgate
London
EC2R 6PL

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Contents

Trustees’ report 1-6
Independent auditors’ report 7-9
Accounts comprising:
Statement of financial activities 10
Balance sheet 11
Statement of cash flows 12
Notes to the accounts 13-24

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Trustees’ Report

The Trustees of Theatre Peckham are delighted to present their annual report with the audited financial statements of the company for the year ended 31 March 2021. The Trustees confirm that the Annual Report and financial statements of the company comply with the current statutory requirements, the requirements of the company's governing document and the provisions of the Statement of Recommended Practice (SORP), applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) as amended by Update Bulletin 1.

Objectives and Activities

The charity’s principal object, as detailed in the Memorandum and Articles of Association, continues to be the advancement of education for the public benefit by the promotion of the arts, in particular but not exclusively the art of drama.

Through the power of theatre, we illuminate young voices, developing skills and opportunities to platform excellent creatives who are locally focused with a national and international vision. At our South London home, we commit to producing new writing and performance focusing on young talent, representative of London’s community.

Our Vision and Mission

We are building a genuinely representative and inclusive society where everyone can participate in, lead, work in, and enjoy creativity and culture.

Theatre Peckham is a learning theatre that is built to champion artistic excellence and social change for young people and our hyper-local community. Alongside the performances on our stage, we provide a voice, a platform, and opportunities for young people from underrepresented backgrounds to realise their potential and thrive in professional environments, creative and otherwise. Founded over 30 years ago, we are ambitious, we are brave, and we inspire all those who come through our doors.

Our organisational values are reflected in everything we do. Theatre Peckham values:

New ideas, New stories and New partnerships are made in Theatre Peckham. By championing young, underrepresented voices, we are opening the gates for performers and technicians to enter the creative industries, forming lifelong relationships with participants, audiences, and partner organisations. In doing so, Theatre Peckham leads the change that is influencing our sector.

Covid 19

The financial year started in 1 April 2020; 14 days after the start of the first national lockdown and the closure of our building. We have survived a very difficult year; when many of our staff were on furlough; and income from our academy and theatre activities collapsed due to their forced closure. We have received fantastic support from many funders; but are particularly grateful for the ongoing support from the Arts Council, Southwark Council Culture Grant, CCLOR’s and London Community Response. In the interim periods, when Covid 19 relented; we have managed to open the Theatre briefly; and the program, while curtailed, has been as dramatic and innovative as ever.

1

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Trustees’ Report

Theatre Peckham Academy

Our principal activity is a core training programme. TP Academy, much curtailed in 2020/21 comprised of:

Theatre Peckham Performances

Every child had the opportunity for live performance on our stage, and in the local community, sharing and showcasing their talent to friends and family audiences. In 2020/21 we showcased this work online:

We also curated the Young Gifted and Black Festival in October 2020 which comprised of 15 performances and events. Our Christmas Production of The Wonderful Storybook was performed to 500 school children over 10 performances.

Theatre Peckham Training

Training is offered to young adults, schools and college pupils who make use of our work experience scheme and University and drama schools have Theatre Peckham top on their list for placement opportunities in Technical Theatre, Producing, Stage Management, Facilitating and Administration.

Theatre Peckham Partnerships and Hires

We hosted a wide variety of hires for performance and production work which resonate with our target audience, listed below.

Ballet Soul Duo Arts Play on Shakespeare British Theatre Academy English Touring Opera Poetic Unity Brixton House Gerrard Martin Dance Progress Wrestling Byron Gold Hay Events Southwark Council Casey Elisha James Cousins Company Tazaziva Dance Traditional Taekwondo CTC Dance Company Jokers Pack Association DK Fashola Playback Drama

2

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Trustees’ Report

2020 -21 key statistics:

Our plans for the future fall into three categories:

Financial review

Despite the challenges and constraints of the Covid 19 pandemic, resulting in much lower revenues from Academy fees, box office tickets and hires, Theatre Peckham ends the year in a stronger financial position than it was at the commencement of the year. Theatre Peckham’s cash has increased from just about £92,000 at the end of March 2020 to a much more robust figure of over £260,000 at the end of March 2021.

The reasons for this are many and various but chief among them is the significant and ongoing support from our chief funders; a disciplined and prudent cost-control policy; and central Government's furlough programme which contributed over £60,000 to our staff costs. We also took out a Bounce Back loan of £50,000, repayable over five years, to buttress our liquidity against shocks. We are grateful to all our funders and are particularly thankful to our CEO and Finance team for ensuring our continued strength into the new financial year.

At the end of 2020/21 there was total reserves of £431,123 (2020 £267,932). This was made up of £115,973 (2020 £48,783) restricted reserves and £315,150 (2020 £219,149) unrestricted reserves.

Principal funding sources

We would like to thank all the generous donations and grants from all our supporters. A detailed list of all grants and our grant giving bodies is given in Note 2 to the accounts on page 16.

Reserves policy

The Trustees shall:

3

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Trustees’ Report

The Board are happy to report that reserves have been greatly strengthened in 2020/21 and have met the policy target. The future outlook is uncertain but, with prudent management, the Board is confident that we can preserve and maintain this sound financial underpinning.

Going concern

After making appropriate enquiries, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies.

Structure, governance and management

Constitution

The charity is registered as a charitable company limited by guarantee. The Charities registered office is 221 Havil Street, London, SE5 7SB.

The charity is constituted under a Memorandum of Association dated 2 May 1986 and is a registered charity number 294399 in England and Wales.

Method of appointment or election of Trustees

The management of the charity is the responsibility of the Trustees who are elected and co-opted under the terms of the Articles of Association.

The trustees who served during the year, were; J A Reeves – resigned 27 July 2021 A R Devenish M E Hamilton – resigned 27 July 2021 S L I Manyonda E I McKay R J Preston A Garrido Serrato C J M Wilkinson A Li – appointed 26 June 2020 and resigned 2 November 2021

D W R Richards – appointed 26 June 2020 The trustees who joined after 31 March 2021 were; A Domingo – Chair appointed 2 November 2021 S E C Whitney Low – resigned 2 November 2021 N Brown – appointed 27 July 2021

Policies adopted for the induction and training of Trustees

In March 2021, the Board met for an online Away Day. Charlotte Jones from ITC attended to facilitate a discussion around the principles of good Governance: Strategy, Scrutiny, Stretch, Support and Stewardship. The CEO introduced the trustees to the Arts Council England’s Four Investment Principles: Ambition & Quality; Dynamism; Environmental Responsibility; and Inclusivity & Relevance. In 2020 Theatre Peckham developed the Five Pillars: Anti-racism programme as a response to the Black Lives Matter movement and the death of George Floyd. Trustees attended a half day training session.

4

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Trustees’ Report

Organisational structure and decision making

The Board of Trustees meet every three months, or more frequently if required, to consider reports from the Senior Management Team, monitor financial progress, agree budgets, and consider issues of strategic importance. The Trustees delegate the day-to-day management of the charity to the now singular role of Executive and Artistic Director, Suzann McLean.

The Board currently has three sub-committees: Programming, Finance and Nominations. The committees have terms of reference, meet as needed and report proceedings to the full Board.

Risk management

The Trustees and members of the management committee review the major risks which the charity faces on a regular basis.

They are committed to continuing to increase reserves, combined with an annual review of the controls over key financial systems, to provide sufficient resources in the light of adverse conditions.

The Trustees and members of the management committee have also examined other operational and business risks faced by the Charity and confirm that they have established systems to mitigate the significant risks.

Plans for future periods

Future developments

Our plans for the future fall into three categories

Trustees' responsibilities statement

The Trustees (who are also directors of Theatre Peckham for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial year. Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the Trustees are required to:

5

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Trustees’ Report

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:

The trustees have complied with their duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission.

Signed on behalf of the board of Trustees on 21 December 2021.

_________ Dr A Domingo, Chair Trustee

6

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Independent Auditors’ Report to the members of Theatre Peckham

Opinion

We have audited the financial statements of Theatre Peckham (the ‘Charity’) for the year ended 31 March 2021 which comprise the Statement of Financial Activities, Balance Sheet and the related notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the Charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion

Conclusions relating to going concern

We have nothing to report in respect of the following matters in relation to which the ISAs (UK) require us to report to you where:

Other information

The trustees are responsible for the other information. The other information comprises the information included in the annual report other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

7

Theatre Peckham

Annual Report and Accounts For the year ended 31 March 2021

Independent Auditors’ Report to the members of Theatre Peckham

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of the trustees

As explained more fully in the trustees’ responsibilities statement set out on pages 9-10, the trustees are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the Charity’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the Charity or to cease operations, or have no realistic alternative but to do so.

Our responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: [www.frc.org.uk/auditorsresponsibilities]. This description forms part of our auditor’s report.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Audit response to risks identified

We assessed the susceptibility of the company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

8

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Independent Auditors’ Report to the members of Theatre Peckham

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion.

Use of our report

This report is made solely to the Charityʼs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charityʼs members those matters we are required to state to them in an auditorʼs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charityʼs members as a body, for our audit work, for this report, or for the opinions we have formed.

Kate Taylor FCA (Senior Statutory Auditor)

for and on behalf of Simpson Wreford LLP, Statutory Auditor

Wellesley House Duke of Wellington Avenue Royal Arsenal London SE18 6SS

Dated: 22 December 2021

9

Theatre Peckham

Annual Report and Accounts For the year ended 31 March 2021

Statement of Financial Activities (Incorporating Income and Expenditure account)

Note
Income from:
Grants and donations
2
Charitable activities
3
Other trading activites
3
Other income
Total Income
Expenditure on:
Charitable activities
4,5
Total Expenditure
6
Transfer between funds
13
Net Movement of Funds
Reconciliation of funds
Funds at 1 April 2020
Funds at 31 March 2021		 Unrestricted
2021
Restricted
2021
Total 2021
Total 2020
£
£
£
£
401,346
230,492
631,838
362,107
82,621
-
82,621
211,975
1,535
-
1,535
30,744
14,575
-
14,575
20,642
500,077
230,492
730,569
625,468
431,252
136,126
567,378
704,015
431,252
136,126
567,378
704,015
(27,176)
27,176
-
-
96,001
67,190
163,191
(78,547)
219,149
48,783
267,932
346,479
315,150
115,973
431,123
267,932

The Statement of Financial Activities includes all gains and losses in the year. All income and expenditure derive from continuing activities.

The notes on pages 13 to 24 form part of these financial statements.

10

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Balance Sheet

Note
FIXED ASSETS
Intangible assets
9
Tangible assets
10
CURRENT ASSETS
Debtors
11
Cash at bank and in hand
12
NET CURRENT ASSETS
12
NET ASSETS
CHARITY FUNDS
Restricted funds
14
Unrestricted funds
14
TOTAL FUNDS
CREDITORS:amounts falling
due within one year
CREDITORS:amounts falling
due after more than one year		 53,517
263,435		 2021
2020
£
£
9,379
9,978
230,084
232,545
239,463
242,523
42,902
92,260
135,162
(109,753)
234,160
25,409
(42,500)
-
431,123
267,932
115,973
48,783
315,150
219,149
431,123
267,932
316,952
(82,792)

The accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act relating to small companies and constitute the annual accounts required by the Companies Act 2006 and in accordance with the Financial Reporting Standard in the UK and Republic of Ireland (FRS 102).

The financial statements on pages 13 to 24 were approved by the Trustees on 21 December 2021 and signed on their behalf by

_____ Dr A Domingo, Chair Company Number: 02016836 (England & Wales)

11

Theatre Peckham

Annual Report and Accounts For the year ended 31 March 2021

Statement of Cash flows

Notes
Cash flows from operating activities:
Net cash provided by (used in) operating activities
25
Cash flows from investing activities:
Purchase of property plant and equipment
Net cash provided by (used in) investing activities
Change in cash and cash equivalents in the reporting period
Cash and cash equivalents at the beginning of the reporting period
26
Cash and cash equivalents at the end of the reporting period
26		 2021
2020
Funds
Funds
£
£
206,970
(33,148)
(35,788)
(7,319)
(35,788)
(7,319)
171,182
(40,467)
92,253
132,720
263,435
92,253

12

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

1 Accounting Policies

1.1 Basis of preparation of financial statements

The financial statements have been prepared ln 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) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Theatre Peckham meets the definition of a public benefit entity under FRS 102. Assets and labilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

1.2 Company status

The charity is a company limited by guarantee incorporated in England and Wales under registered number 02016836. The members of the company are the Trustees named on the company information page. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The registered office is 221, Havil Street, London, SES 75B

1.3 Income

All income is recognised once the charity has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably.

For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably, and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate and the criteria for income recognition have not been met, then the legacy is treated as a contingent asset and disclosed if material.

Donated services or facilities are recognised when the charity has control over the item, any conditions associated with the donated Item have been met, the receipt of economic benefit from the use of the charity of the item is probable and that economic benefit can be measured reliably.

On receipt, donated professional services and donated facilities are recognised on the basis of the value of the gift to the charity which Is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount Is then recognised in expenditure in the period of receipt.

1.4 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 we be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each

13

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

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 allocated on the portion of the asset's use.

Governance costs are those incurred in connection with administration of the charity and compliance with constitutional and statutory requirements.

Charitable activities and Governance costs are costs incurred on the charity's educational operations, including support costs and costs relating to the governance of the charity apportioned to charitable activities.

All expenditure is inclusive of Irrecoverable VAT.

Redundancy payments are recognised in the period in which an agreement is reached.

1.5 Intangible fixed assets and amortisation

Intangible assets costing £200 or more are capitalised and recognised when future economic benefits are probable, and the cost or value of the asset can be measured reliably. Intangible assets are initially recognised at cost and are subsequently measured at cost net of amortisation and any provision for Impairment.

Website development - 6% reducing balance

1.6 Tangible fixed assets and depreciation

All assets costing more than £200 are capitalised.

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. impairment losses are recognised in the Statement of Financial Activities incorporating income and Expenditure Account.

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment, depredation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Long-term leasehold property - over the term of the lease Motor vehicles - 25% reducing balance basis Theatre fixtures and fittings - 10-15% reducing balance basis Theatre equipment - 25% reducing balance basis Computer equipment - 33% straight line basis Portable sound equipment - 50% straight line basis Leasehold improvements - 15% reducing balance basis

14

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

1.7 Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

1.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

1.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

1.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised within interest payable and similar charges.

1.11 Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial Instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective Interest method.

1.12 Pensions

The charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the charity to the fund in respect of the year.

1.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees In furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.

15

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

2 Income from donations and legacies

Grants and Donations
Donations
Donations
Grants
Arts Council - Core
National Lottery
Jack Petchey Foundation
Arts Council England Catalyst
L.B. Southwark
L.B. Southwark Projects
L.B. Southwark Projects - Positive Futures
Arts Council England Area Managed Funds
Wakefield Trust
Newcomen Collet Foundation
Charter House - In So Unity Trust
Arm Bras Gaunt Armourerbrasier
Greater London Authority - Young Londoners Fund
The London Community Foundation
Sir John Cass Foundation
Arts Council Programme Development
Garfield Weston
The Worshipful Company of Basket Makers
The Innholders Charitable Foundation
Lucille Graham Trust
Arts Council England - Covid Recovery Fund
Church Urban Fund
Noel Coward Foundation
London Borough of Southwark - Covid Response
London Borough of Southwark - Community projects
CCLORS
London Community Response
London Youth Correction
London Sports and Satellite Club
Arts Council - ACE Awards
Theatres Trust
Job Retention Scheme Grant		 Restricted
2021
Unrestricted
2021
Total 2021
£
£
£
-
15,127
15,127
-
15,127
15,127
-
145,554
145,554
-
10,000
10,000
3,500
5,000
8,500
-
-
-
-
31,500
31,500
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
3,000
3,000
47,867
-
47,867
-
-
-
10,000
-
10,000
-
-
-
-
25,000
25,000
-
-
-
-
-
-
-
-
-
150,000
-
150,000
6,162
-
6,162
4,175
-
4,175
-
15,000
15,000
1,250
-
1,250
-
50,000
50,000
-
50,000
50,000
-
1,000
1,000
1,538
-
1,538
1,000
-
1,000
5,000
-
5,000
-
50,165
50,165
230,492
386,219
616,711
230,492
401,346
631,838		 Total 2020
£
9,394
9,394
142,924
-
1,500
44,312
31,500
4,500
11,044
20,000
5,000
1,000
5,000
3,000
23,933
11,000
10,000
7,000
25,000
1,000
3,000
2,000
-
-
-
-
-
-
-
-
-
-
-
-
352,713
362,107

16

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

3 Income from charitable and trading activities

Charitable activities
In house production ticket sales
Box office splits
Other activities
Other event fees
External workshop fees
Workshop fees and membership fees
Holiday courses and master classes
Room and equip hire
Services
Trading activities
Café, bar and tuck takings
Dancewear
Merchandise and publications		 Unrestricted
2021
Total 2021
£
£
3,960
3,960
-
-
2,000
2,000
981
981
11,131
11,131
17,468
17,468
685
685
47,597
47,597
(1,200)
(1,200)
82,621
82,621
870
870
665
665
-
-
1,535
1,535		 Total 2020
£
36,278
10,672
1,377
3,105
4,358
72,235
6,077
77,873
-
211,975
28,833
1,765
146
30,744

4 Direct costs

Workshop publicity
Marketing
Productions
Dancewear
Tuckshop and bar purchases
Examination fees
Hire costs
Other theatre activities
Tutor fees
Holiday courses and master classes
Consultants
Staff expenses
Staff training
Wages and salaries
National insurance
Pension cost		 Activities and
productions
Total 2021
£
£
4,586
4,586
5,743
5,743
54,927
54,927
88
88
571
571
-
-
15,185
15,185
15,640
15,640
73,632
73,632
408
408
6,772
6,772
1,448
1,448
934
934
208,618
208,618
13,066
13,066
2,957
2,957
404,576
404,576		 Total 2020
£
1,814
15,732
74,715
4,000
17,940
-
6,875
8,684
59,474
8,823
25,682
213
2,302
294,919
21,598
5,669
548,440

17

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

5 Governance costs

Rent
Rates
Light and heat
Repairs and renewals
Covid compliance expenses
Cleaning
Transport and vehicle expenses
Computer costs
Insurance
Hygiene services
Printing, postage and stationery
Subscriptions
Telephone
Catering and hospitality
General expenses
Bank charges
Equipment
Recruitment
Service charge
Loss on disposal of intangible fixed assets
Professional fees
Audit fees
Depreciation of tangible fixed assets
Amortisation of intangible fixed assets
Provision for doubtful debts		 Unrestricted
Funds 2021
Restricted
Fund 2021
Total 2021
Total 2020
£
£
£
£
-
-
-
-
1,239
-
1,239
1,572
16,256
-
16,256
15,387
28,387
10,869
39,257
16,635
7,950
234
8,184
-
-
-
-
456
60
-
60
-
2,234
1,950
4,184
3,495
3,704
-
3,704
3,292
19,478
600
20,078
27,279
8,257
467
8,723
7,500
1,943
-
1,943
2,484
2,515
-
2,515
3,791
97
-
97
817
340
-
340
578
1,317
-
1,317
3,634
-
-
-
394
-
-
-
-
5,747
-
5,747
6,333
-
-
-
8,846
3,839
-
3,839
3,755
3,924
-
3,924
3,770
38,255
-
38,255
44,920
599
-
599
637
2,541
-
2,541
-
148,682
14,119
162,802
155,575

6 Analysis of expenditure by type

Charitable activities
Expenditure on governance		 Staff Costs
2021
Depreciation
and
Amortisation
2021
Other Costs
2021
Total 2021
Total 2020
£
£
£
£
£
227,024
-
177,553
404,576
548,440
-
38,853
123,948
162,802
155,575
227,024
38,853
301,501
567,378
704,015

18

Annual Report and Accounts For the year ended 31 March 2021

Theatre Peckham

Notes to the financial statements

7 Net outgoing resources

This is stated after charging:

Depreciation of tangiable fixed assets
Amortisation of intangilble assets		 Depreciation of tangiable fixed assets
Amortisation of intangilble assets		 2021
2020
£
£
38,254
44,920
599
637
8
Staff costs
Staff costs
Staff costs for the year wera as follows:
2021
2020
£
£
Wages and salaries
205,477
279,432
Redundancy payments
3,141
15,488
Social security costs
13,066
21,598
Other pension costs
2,957
5,669
224,641
322,186
The average number of employees during the year, calculated on the basis of full time staff, was as follows:
2021
2020
Direct charitable work
12
16
No employee was paid a salary greater than £60,000.

9 Intangible fixed assets

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Amortisation
At 1 April 2020
Charge for the year
Eliminated on disposal
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020		 Website
Development
£
11,912
-
-
11,912
1,934
599
-
2,533
9,379
9,978

19

Annual Report and Accounts For the year ended 31 March 2021

Theatre Peckham

Notes to the financial statements

10 Tangible fixed assets

Cost
At 1 April 2020
Additions
Disposals
At 31 March 2021
Deprecation
At 1 April 2020
Charge for the year
Eliminated on disposal
At 31 March 2021
Carrying amount
At 31 March 2021
At 31 March 2020		 Theatre
Fixtures and
Fittings
Theatre and
Sound
Equipment
Computer
Equipment
Leasehold
Improvements
Total
£
£
£
£
£
386,913
16,669
17,989
-
421,571
8,580
1,290
6,187
19,730
35,787
-
-
-
-
-
395,493
17,959
24,176
19,730
457,358
158,933
13,408
16,679
-
189,020
34,567
1,030
1,642
1,015
38,254
-
-
-
-
-
193,500
14,438
18,321
1,015
227,274
201,993
3,521
5,855
18,715
230,084
227,980
3,261
1,310
-
232,551

11 Debtors

Debtors
Trade debtors
Prepayments and accrued Income		 2021
2020
£
£
10,759
21,915
42,758
20,987
53,517
42,902
Creditors
Trade creditors
Accruals and deferred income
Grant in advance
Taxation and social security, pension
Bounce back loan
Creditors due after more than one year
Bounce back loan		 2021
2020
£
£
20,122
9,528
24,131
17,728
25,000
76,500
6,039
5,997
7,500
-
82,792
109,753
2021
2020
£
£
42,500
-

12 Creditors

20

Theatre Peckham

Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

13 Statement of funds

Restricted funds
Jack Petchey Foundation
Wakefield Trust
Charter House - In So Unity Trust
National Lottery Fund - Awards for all
Arts Council England - ACE Awards
L.B. Southwark Projects - Positive Futures
L.B. Southwark Projects
Sir John Cass Foundation
Church Urban Fund - Windrush Dream
Arts Council England - Covid Recovery Fund
Noel Coward Foundation
Greater London Authority - Young Londoners Fund
London Sports and Satellite Club
Theatres Trust
Bernard Sunley
Designated funds
Zaiger Trust
Unrestricted funds
General funds		 Balance at 1
April 2020
Income
Expenditure
Transfers
in/out
Balance at 31
March 2021
£
£
£
£
£
278
3,500
(2,185)
-
1,593
5,000
-
(3,814)
-
1,186
5,000
-
-
(4,765)
235
5,591
-
(5,591)
-
-
-
1,000
-
-
1,000
91
-
-
-
91
-
1,250
-
-
1,250
9,300
10,000
(1,050)
-
18,250
-
6,162
(5,911)
-
251
-

150,000
(73,542)
(18,608)
57,850
-
4,175
(350)
-
3,825
23,481
47,867
(40,907)
-
30,441
-
1,538
(1,560)
22
-
-
5,000
(1,175)
(3,825)
-
42
-
(42)
-
-
48,783
230,492
(136,126)
(27,176)
115,973
-
6,000
(6,000)
-
219,149
500,077
(431,252)
27,176
315,150
267,932
730,569
(567,378)
-
431,123

14 Analysis of net assets between funds

14 Analysis of net assets between funds
Intagible fixed assets
Tangible fixed assets
Current assets
Creditors due within one year
Creditors due after more than one year		 Unrestricted
Restricted
Total
Funds 2021
Funds 2021
Funds 2021
£
£
£
9,379
-
9,379
230,084
-
230,084
200,980
115,972
316,952
(82,792)
-
(82,792)
(42,500)
-
(42,500)
315,151
115,972
431,123

15 Trustees expenses

No remuneration or benefits in kind was paid to any trustee in the year. No direct reimbursements for expenses to trustees were made during the financial year.

16 Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

21

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

17 Pension commitments

The following payments were made to the company pension schemes in the year:


2021		 2020
£ £
Defined Contribution Scheme 2,957 5,668

No payments were outstanding at the year end.

18 Restricted funds

Greater London Authority, Young Londoners Fund – A 3 year funding agreement to support young people at risk of going into crime. Also to support positive futures and positive transition programmes.

Arts Council Covid Recovery Fund – Covid Recovery Fund - Grant to support a scaled back re-opening of Theatre Peckham from September 2020 to provide essential support for a community hard hit by Covid-19.

Sir John Cass Foundation – Theatre Peckham's innovative two-year Further and Higher Education Pathways Programme aimed at young people aged 16-25.

19 Fund transfers

20 Related party transactions

No transactions occurred with known related parties during the financial year. There were no outstanding balances with any known related parties at the year end.

22

Theatre Peckham Annual Report and Accounts For the year ended 31 March 2021

Notes to the financial statements

21 Limited liability

The Trustees of the company guarantee to contribute an amount not exceeding £1 to the assets of the charity in the event of winding up.

22 Other professional services provided by the auditors

In common with many other entities of the charity size and nature, they use their auditors to assist with the preparation of the financial statements.

23 Operating lease commitments

At 31 March 2021 the company was committed to making the following payments under non-cancellable operating leases:


2021		 2020
£ £
Payments due 13,985 13,980

24 Deferred income

Income of £36,330 (2020: £86,628) has been deferred either to match the period of terms on the grant documentation or the terms of the invoices. for the following:

Arts Council England - £25,000
Venue hire and other income - £11,330

Income of £58,149 was released in the current period.

25 Reconciliation of net income/(expenditure) to net cash flow from operating activities

Net income/(expenditure) for the reporting period
Adjustments for:
Depreciation charges
Loss/(profit) on the sale of fixed assets
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by (used in) operating activities		 2021
£
163,191
38,853
-
(10,613)
15,539
206,970		 2020
£
(78,547)
45,557
8,846
(23,857)
14,853
(33,148)

23

Annual Report and Accounts For the year ended 31 March 2021

Theatre Peckham

Notes to the financial statements

26 Analysis of cash and cash equivalents

Cash in hand
Total cash and cash equivalents		 2021
2020
£
£
263,435
92,260
263,435
92,260

24