Talawa Theatre Company Limited
REPORT OF THE TRUSTEES AND
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2021
Registered Charity No. 327362 Company No. 02005971
Talawa Theatre Company Limited
Registered Charity No. 327362
Company No. 02005971
Trustees
Elaine Rose Banton Laura Collier James Dacre Dominic Alexander Haddock Rashada Harry Irogwehi Nieros Oyegun Shereen Jasmin Phillips Olivier Pierre-Noel Davinia Tomlinson Philip Raymond Turner Chante Frazer (Appointed 7 October 2021) Shaniqua Marie Benjamin (Appointed 7 October 2021) Diogo Alexandre Dos Santos Varela (Appointed 7 October 2021)
Secretary
Sheila Poku-Dabanka (Appointed 11 October 2021) Carolyn Lashawn (Appointed 4 November 2020)
Registered Address
Fairfield Halls Park Lane Croydon CR9 1DG
Independent Examiner
Moore Kingston Smith LLP Charlotte Building 17 Gresse Street London W1T 1QL
Talawa Theatre Company Limited
Contents of the Financial Statements for the year Ended 31 March 2021
| Page | |
|---|---|
| Report of the Trustees | 1 - 9 |
| Independent Examiner's Report | 10 |
| Statement of Financial Activities | 11 |
| Balance Sheet | 12 |
| Cash Flow Statement | 13 |
| Notes to the Financial Statements | 14 - 25 |
Talawa Theatre Company Limited
TRUSTEES' REPORT
For the year ended 31 March 2021
The Trustees present their annual report together with the unaudited financial statements for the year ended 31 March 2021. The Trustees confirm that the Annual Report and financial statements of the charity comply with the current statutory requirements, the charity’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) (effective 1 January 2015).
The trustees who held office during the year and up to the date of signature of the financial statements were as follows:
Elaine Rose Banton (Appointed 5 February 2020 Chair of the Board)
Laura Collier James Dacre Dominic Alexander Haddock Rashada Harry Irogwehi Nieros Oyegun Shereen Jasmin Phillips Olivier Pierre-Noel ( Appointed 19 January 2021 Chair Finance sub-committee) Davinia Tomlinson Philip Raymond Turner Peter Huntley (Talawa Interim Executive Director resigned 3rd November 2020) Carolyn ML Forsyth (Appointed 4 November 2020 Company Secretary - Executive Director & CEO) Sheila Poku-dabanka (Appointed 11 October 2021 Company secretary - Finance & Operations Manager)
The new articles of Association were due to be adopted on 25th September 2020, all currect directors are in their first term of 3 years.
From the articles, all directors must be appointed for a fixed term of three years and may serve up to a maximum of two consecutive terms, or a maximum of three consecutive terms if the third term is approved by ordinary resolution.
Objectives and Activities
a. Policies and objectives
Mission
Talawa is the UK's outstanding Black British Theatre Touring Theatre Company. Our purpose is to champion Black Excellence in theatre; to nurture talent in emerging and established artists of African or Caribbean heritage, and to tell inspirational and passionate stories reflecting Black experience through art.
Values
We are a learning and anti-racist organisation. Our core values reflect the cultural diversity inherent in British society and across the world. Our work and practices are bold, welcoming, collaborative and accessible to our artists, audiences and communities.
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Talawa Theatre Company Limited
TRUSTEES' REPORT For the year ended 31 March 2021
b. Activities for achieving objectives
Talawa's objectives during the year continued to be the promotion and advancement of theatre productions that bring the ethnically diverse Black British experience to mainstream audiences, and Participation and Learning programmes that develop ethnically diverse Black practitioners and provide outreach work in communities, schools and organisations around Black focused experiences.
c. Main activities undertaken to further the charity's purposes for the public benefit
The current activities of the company have been detailed in this report. The directors confirm that they have referred to the guidance contained in the Charity Commission's guidance on public benefit when reviewing the company’s aims and objectives and in planning future activities.
Talawa's public benefit criteria are as follows: -
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Talawa is a Black British theatre company that provides recognised cultural, engagement and training programmes that develop British African and Caribbean disapora arts and artists for mainstream British theatre.
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It is a reliable and balanced advocate for the current issues faced by Artists from African and Caribbean Diaspora and Audiences from Africa, Caribbean diaspora and South, East and South East Asian diaspora heritages.
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It is a high-profile partner for developing work with an ability to generate respect and trust within the African, Caribbean diaspora and South, East and South East Asian diaspora community.
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A leading role in the arts sector advocating for anti-racism policies and practicies both on stage and off; providing bespoke training to businesses within the arts industry and other industries, focused on biases and anti racism cultural shift within organisations.
Note from the Chair
Talawa Theatre Company (TTC) continues to be a leading Black theatre companies in the UK. The company exists to create, produce and tour quality work which shines a spotlight on Black talent, presenting theatre for a diverse range of audiences across the country. In addition, we spend a considerable amount of time and resources on our year round national talent development programme, MAKE. MAKE offers training and development opportunities to Black artists at all stages of their careers. We launched the online component to the programme, MAKE Online, a virtual hub that gives Black artists the opportunity to connect and collaborate, and gives industry shapers the chance to offer paid opportunities.
Following confirmation of funding for the period 2018-2022, TTC continues to be an Arts Council National Portfolio Organisation (NPO) and TTC was successful in applying for an extension year on its funding which now runs to 31 March 2023.
We co-produced our first outdoor work with Greenwich Docklands International festival called TIDE. Shoreditch Town Hall hosted our Talawa First festival mixture of performances and workshops.
Talawa’s co-production model is based on working with partners, sharing the risk. Whilst this means that box office income is shared and is lower than in previous years, it also means that by sharing costs we can produce more work and tour work for longer.
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Talawa Theatre Company Limited
TRUSTEES' REPORT
For the year ended 31 March 2021
In January 2021 we nominated a Chair of Finance sub committee within our existing trustees. Olivier is a Finance Director for Soho Theatre and is an experienced accountant.
Talawa became part of the Croydon Creative Collective a programme that works with 8-18 years old across Croydon. Talawa is one of the core partners and we deliver activity across the borough. MAKE employed 25 artists to work with young people on the Creating Routes, C3 (Drama and Dance workshops), industry talks, masterclasses, schools workshops and engage workshops with Beyond face and Voyage youth centre.
Due to COVID many trust and foundations stopped taking applications. This impacted on planned new applications for MAKE 2021 and TYPT 2020 programme. MAKE programme is moved to 2022. TYPT will start up again in 2021. However we have successfully applied for money from Croydon Covid relief to create Tales From the Front Line a new digital project, as part of Talawa's move into Digital art.
Talawa Theatre Company (TTC) has offices and studio space in Fairfield Halls. Covid 19 pandemic lockdown started in March 2020. This resulted in Fairfield Halls closing and the venue continued to be closed until March 2021. TTC continued to operate and produce work by moving online and creating new digital content. This included our artist development and community engagement programme. We did not need to furlough our staff and we did not apply for culture relief funding, as we had reserves and an unspend from not touring.
Covid has a marked impact on the freelancers in the arts sector (most artists are freelancers). Talawa is involved in supporting freelancers, through the Freelance Task force. We continued to engage with artists and audiences online and applied for funding to create our first digital project 'Tales From The FrontLine' which engaged Black Ethnically diverse artists.
We continue to look at ways in which we can rebuild relationships, and strengthen the organisation within this new COVID reality.
Elaine Banton
Achievements and performance
a. Review of activities
Talawa’s activity remained high with productions dedicated to new work, Talawa adapted to a shifting climate brought by the Covid-19 pandemic and found new ways of delivering its mission: to champion Black Excellence in theatre; to nurture talent in emerging and established artists of African and Caribbean heritage and to tell inspirational and passionate stories, reflecting Black experiences through art. Our achievements of productions, artist development programmes and public training sessions, all happened during or after the UK lockdowns.
The Tide
(Summer 2020/rescheduled Summer 2022)
The Tide is co-created by writer Ryan Calais Cameron and choreographer Jade Hackett. The Tide is supported by the Without Walls Consortium, and is commissioned by Brighton Festival and Greenwich+Docklands International Festival, and is Talawa's first show created exclusively for outdoor performance. The Tide toured to festivals in 2019.
Due to COVID the tour in 2020 has been rescheduled to Summer 2022.
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Talawa Theatre Company Limited
TRUSTEES' REPORT For the year ended 31 March 2021
Run It Back
(25 March – 4 April 2020/ rescheduled Summer 2021 )
Directed by Coral Messam, Run It Back returns following its first iteration at TYPT:18 into a full production in 2020, which was then cancelled in March 2020 part way through the rehearsal process due to Covid 19. Talawa paid freelancers their full fees.
On 17 March 2021 project grant funding was secured to remount Run It Back in Summer 2021. Due to new covid rules and artist availability Talawa was given permission to move the production in later summer/early autumn 2021.
Talawa Firsts
(19 June — 5 July 2020)
Our annual Festival of new work was due to be presented at Talawa Studio in Fairfield Halls. It continues to present the best of upcoming and diverse talent to producers and opens up opportunities and activities in theatre, television and film, driving diversity in the arts and the arts workforce. Talawa’s aim is to kick start careers and create community of artists who — with our support — will become the next generation to influence the future of British theatre.
Due to Covid, 2020 festival was cancelled and the next one ran in July 2021.
A Place For We
(6 May - 6 June 2020/ reschedule autumn 2021)
A co-production between The Park Theatre and TTC. This was cancelled due to Covid-19. Discussions started in 2021 to look at rescheduling A Place for We to autumn 2021.
We secured funding from Windrush day funds for a programme of community engagement around A Place For we. This was cancelled due to Covid-19 and the funding was returned.
Talawa Cafes
(April - August 2020)
TC were a series of workshops (some group, some one-to-one) on varies aspects of theatre (writing, directing, fundraising & producing). The were designed to give support to Black artists, demystifying the process of theatremaking and provide insightful advice. The one-to-one supported writers, providing feedback on scripts, dramaturg support. 132 artists were supported through TC. We encouraged writers to submit script readers service.
Talawa stories
(April 20 - onwards)
Talawa stories is a series of three half an hour plays by emerging Black British Writers and Directors, a co-production between TTC on their 35th anniversary next year, and Feral Inc Productions. This has been commission by BBC Radio 4. Talawa’s New Work Producer and a freelancer dramaturg will identify and support six new writers to work on half hour scripts over the course of a six week development programme this autumn, with the aim of commissioning three scripts to be made for the series.
Transmission dates of 7/14/21st May 2021.
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Talawa Theatre Company Limited
TRUSTEES' REPORT For the year ended 31 March 2021
Tales from the Frontline
(July 2020- April 2021)
The pandemic has had a starkly divergent impact on communities; Black people are four times more likely to die from Covid-19, according to Office of National Statistics figures in May 2020 for England and Wales. While in November 2020, the Joint Committee on Human Rights report “Black People, Racism and Human Rights”, concluded that the Government must urgently take action to protect the human rights of Black people across many areas, including healthcare. The Tales from the Front Line interviews were a space for the Black workers to share their experiences, their concerns and their hopes for the future. Black artists and creatives have then used the testimonies to create six dramatised pieces of work using music, movement, photography and soundscapes to convey the story. These were released episodically, with the first two films (part 1 & 2) being made available on 30 November 2020 and parts 3 & 4 released 11 February 2021.
Our aim was to document and celebrate the contribution of Black workers during the crisis, to create a lasting historical record.
MAKE
Throughout the year we ran the various strands of the MAKE programme, targeting Black artists across the UK. In all we engaged with 330 artists across the year.
Studio Firsts (which used to run 3 times a year with some financial support) didn't operate during 2019/2020, instead we offered rehearsals or research & development space in the new Talawa studio at Fairfield Halls.
TYPT is Talawa’s flagship programme for emerging Black theatre makers. A team of emerging artists aged 18-25 will work with established artists to create a brand new show in Talawa Studio. This is being relaunched in April 2021 (it is a 9 month programme), as the 2020 programme was cancelled due to COVID. Participants recruited for the 2020 cohort will be offered the opportunity to come back onboard. Recruitment for any remaining places will happen in FebruaryMarch 2021.
R&D space for Talawa artists
As the Studio Firsts was cancelled, instead we offered Talawa artists access to the studio space for 2020. 5 artists used the studio space for 7 weeks of R&D. We had bookings until September 2020, the remaining were cancelled due to COVID 19.
Talawa Firsts
Fresh playwrights and directors, Tife Kusoro, dir. Abigail Sewell; Ryan Cameron, dir. Anastasia Osei-Kuffour; Babirye Bukilwa, dir. Miranda Cromwell. Mixture of double bill performances and workshops across 9 days, hosted at Shoreditch Town Hall.
Script Reading Service
The service aims to read scripts from emerging Black writers and give them critical feedback and development support on their work. This free-to- use service attracted 220 writers through the year.
Talawa Writers' Programme
We are currently commissioning, and co-commissioning 7 writers through Talawa Writers’ Programme.
Northern stage, Orange Tree and The Royal Exchange Manchester are new commissioners for Talawa's writing programme.
The programme aims to bring onboard partner companies, commission three writers, and put together a programme of activities to support their development and establish these writers within the industry.
MAKE Online
We launched MAKE online, a resource for Black artists across the UK during the year. As at 31 March 2020 there were 800 registrants, of which 215 identified themselves as organisations or individuals from the wider industry and the remainding 585 identified as artists. We believe that MAKE Online is a unique space for Black artists in the UK, and that it is beginning to change the industry. This continued throughout 2020.
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Talawa Theatre Company Limited
TRUSTEES' REPORT
For the year ended 31 March 2021
TYPT (2020 programme- Cancelled due to Covid)
TYPT is Talawa’s flagship programme for emerging Black theatre makers. A team of emerging artists aged 18-25 will work with established artists to create a brand new show, in Talawa Studio. This is being relaunched in April 2021 (it is a 9 month programme), as the 2020 programme was cancelled due to COVID. Participants recruited for the 2020 cohort, will be offered the opportunity to come back onboard. Recruitment for any remaining places happened in September 2021 and the programme is now running from September 2021 to April 2022.
Talawa Cafe - direct response to covid
This ran from April to August 2020. We engaged with over 100 artists online supporting sessions in writing, producing, directing and fundraising. We offered one-to-one sessions and artist assistance.
a. Going Concern
After making appropriate enquiries, the trustees have a reasonable expectation that the company 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.
b. Reserves Policy
Free reserves comprise unrestricted funds excluding designated funds and amounts invested in fixed assets. The level of free reserves held at 31 March 2021 was £249,048 (2019: £159,047). This is considered appropriate for the current level of activity taking into account the designation of funds below.
At 1 March 2021 the directors designated £159,000 of the general fund as follows:
• A designated minimum reserve of £103,000 is to cover the costs of salaries and overheads for a three-month period.
• A new designated artistic reserve of £56,000 is to cover any potential overspend on productions. The reserves have increased to keep up with increase staffing costs.
c. Current year results
The company received an 18% uplift in ACE funding for the period 2018-2022, to support its Talawa development programme nationally.
The company’s total reserves increased by £73,037 for the year ended 31 March 2021 (increased by £16,230 for the year ended 31 March 2019) as follows: -
Surplus on company operations within unrestricted: £188,956 (2020: £532), deficit on company operations within restricted: £115,919 (2020: surplus of £15,698).
Structure, governance and management
a. Constitution
The company is registered as a charitable company limited by guarantee and was set up by a Trust deed and is a registered charity number 327362.
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Talawa Theatre Company Limited
TRUSTEES' REPORT For the year ended 31 March 2021
b. Method of appointment or election of Trustees
The management of the company is the responsibility of the Trustees who are elected and co-opted under the terms of the Trust deed.
c. Organisational structure and decision making
The Chair of the Board continues to successfully lead the company.
d. Risk management
The Trustees have assessed the major risks to which the company is exposed, in particular those related to the operations and finances of the company, and are satisfied that systems and procedures are in place to mitigate all exposure to the major risks.
Due to COVID, we had to cancel or postpone our productions programmed from March 2020 - December 2020. However our financial position was stable and conquently we did not need to apply for Culture Relief Fund. Our business was brisk and we also did not need to furlough any of our staff. We continued to provide digital work and online engagement with artists and audiences.
Plans for future development
a. Future developments
In 2021/2022: -
The Tide
(Summer 2020/rescheduled Summer 2022)
The Tide is co-created by writer Ryan Calais Cameron and choreographer Jade Hackett. The Tide is supported by the Without Walls Consortium, and is commissioned by Brighton Festival and Greenwich+Docklands International Festival, and is Talawa's first show created exclusively for outdoor performance. The Tide toured to festivals in 2019.
Due to COVID the tour in 2020 has been rescheduled to Summer 2022.
BBC Radio 4 Project – Talawa Stories
Transmission dates: 7th/14th/21st May 2021.
Our co-production with Feral Productions for BBC Radio 4 We are currently in the script reading process, which we are hoping to complete in the coming weeks. We will by then have identified six potential scripts and these writers will be offered a fee to
Black Joy Season (sustain)
Originally scheduled for Autumn 2021 - Spring 2022 - postponed until Summer 2024.
Black Joy season was a new partnership between Birmingham Rep Theatre and Talawa. We are producing three pieces of work, Grime Boy, Plan On and A Doll's House, which will play across all the stages in Birmingham, these shows will tour the UK. Potential pa
In December 2020 we took the difficult decision to step away from this partnership. see statement here http://www.talawa.com/articles/black-joy-update
This resulted in Arts Council removing the sustained funding.
Black Joy will occur now occur from Summer 2024 with a new build partnership with Lyric Hammersmith. We will be looking to apply for new ACE funding for this season in Spring 2022.
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Talawa Theatre Company Limited
TRUSTEES' REPORT
For the year ended 31 March 2021
Talawa Firsts
June 2020 festival was cancelled due to Covid 19 and Talawa Cafe was used as a way of developing new writers instead of the festival.
Talawa First returned in July 2021.
Run it Back - Cancelled due to Covid
(25 March – 4 April 2020/ rescheduled Summer 2021 )
Directed by Coral Messam, Run It Back returns following its first iteration at TYPT:18 into a full production in 2020, which was then cancelled in March 2020 part way through the rehearsal process due to Covid 19. Talawa paid freelancers their full fees.
On 17 March 2021 project grant funding was secured to remount Run It Back in Summer 2021. Due to new covid rules and artist availability Talawa was given permission to move the production in later summer/early autumn 2021.
A Place for We
(6 May - 6 June 2020/ reschedule autumn 2021)
A co-production between The Park Theatre and TTC. This was cancelled due to Covid-19. Discussions started in 2021 to look at rescheduling A Place for We to autumn 2021.
Tales From the Front Line (new digital project) direct response to COVID
(July 2020- April 2021)
The pandemic has had a starkly divergent impact on communities; Black people are four times more likely to die from Covid-19, according to Office of National Statistics figures in May 2020 for England and Wales. While in November 2020, the Joint Committee on Human Rights report “Black People, Racism and Human Rights”, concluded that the Government must urgently take action to protect the human rights of Black people across many areas, including healthcare. The Tales from the Front Line interviews were a space for the Black workers to share their experiences, their concerns and their hopes for the future. Black artists and creatives have then used the testimonies to create six dramatised pieces of work using music, movement, photography and soundscapes to convey the story. These were released episodically, with the first two films (part 1&2) being made available on 30 November 2020 and parts 3 & 4 released 11 February 2021.
MAKE
(Ongoing)
Make and Make Online will continue in earnest, presenting various strands including MAKE Online, the Script reading service and Studio Firsts.
Fairfield Halls
Due to COVID 19, Talawa company has been working remotely since March 2020. Our season launch was postpone in April 2020, the launch has moved several times due to Covid. We plan to launch Talawa in Croydon from Summer 2021. Fairfield Halls full opening is still under discussion, currently it is pencilled from April 2022. The building currently opens when ticketed activity is taking place.
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Talawa Theatre Company Limited
TRUSTEES' REPORT For the year ended 31 March 2021
Statement of Trustees' Responsibilities
The trustees (who are also directors of Talawa Theatre Company 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) including FRS 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’.
Company law requires trustees to prepare financial statements for each financial year which 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 the financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently;
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observe the methods and principles in the Charities SORP;
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make judgements and estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and
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explained in the financial statements; and
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and to 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 taking reasonable steps for the prevention and detection of fraud and other irregularities.
This report was approved by the Trustees on and signed on their behalf by:
Olivier Pierre-Noel Chair of Finance sub-committee
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Talawa Theatre Company Limited
Independent Examiner's Report to the Trustees of Talawa Theatre Company For the year ended 31 March 2021
I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2021.
Responsibilities and basis of report
As the charity’s trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).
Having satisfied myself that the accounts of the Company 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 your charity’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (b) of the 2011 Act.
Independent examiner’s statement
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:
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accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or
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the accounts do not accord with those records; or
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the accounts 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
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the accounts 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 Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS102)
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 accounts to be reached.
Mark Twum-Ampofo ACA, Partner, Independent Examiner
For and on behalf of Moore Kingston Smith LLP, Chartered Accountants
Charlotte Building 17 Gresse Street London W1T 1QL
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Talawa Theatre Company Limited
STATEMENT OF FINANCIAL ACTIVITIES
For the year ended 31 March 2021
(Incorporating Income and Expenditure Account)
| Note Income from: Donations & legacies: 2 Arts Council England Grant John Ellerman Grant Without Walls Consortium City Bridge Trust funding Croydon’s Youth Performance Partnership Talawa Firsts Funding - Martin Bowley Trust Noel Coward Foundation Grant The DOYLY Carte Charitable Trust Grant Leche Trust Grant Croyden Culture Relief Fund Grant Other donations and legacies Charitable activities 3 Other trading activities 4 Investments 5 Total Income Expenditure on: Charitable activities 6 Total Expenditure Net Income Transfers between funds 16 Net movement in funds Fund balances at 31st March 2020 Fund balances at 31st March 2021 16 |
Unrestricted Restricted Total Total Funds Funds 2021 2020 £ £ £ £ 448,407 - 448,407 507,282 - - - 25,000 - - - 10,500 - - - 12,500 - - - 5,000 5,500 - 5,500 - - 5,000 5,000 - - 3,000 3,000 - - 2,500 2,500 - - 5,300 5,300 - 6,037 - 6,037 11,431 2,767 - 2,767 32,497 53,921 - 53,921 3,518 181 - 181 777 516,813 15,800 532,613 608,505 (327,857) (131,719) (459,576) (592,275) (327,857) (131,719) (459,576) (592,275) 188,956 (115,919) 73,037 16,230 - - - - 188,956 (115,919) 73,037 16,230 224,603 131,719 356,322 340,092 413,559 15,800 429,359 356,322 |
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All disclosures relate only to continuing operations.
There are no recognised gains or losses other than the net incoming resources for the year.
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Talawa Theatre Company Limited
BALANCE SHEET
as at 31 March 2021
| Note £ £ Fixed Assets Tangible assets 12 5,511 5,511 CURRENT ASSETS Debtors 13 4,805 Cash on short term deposit at bank and in hand 433,244 438,049 CREDITORS:Amounts falling due within one year 14 (14,201) NET CURRENT ASSETS 423,848 TOTAL ASSETS LESS CURRENT LIABILITIES 429,359 TOTAL NET ASSETS 429,359 Charity Funds Restricted Funds 15,800 Unrestricted Funds 16 413,559 TOTAL FUNDS 429,359 2021 |
£ £ 5,556 5,556 2,396 375,507 377,903 (27,137) 350,766 356,322 356,322 131,719 224,603 356,322 2020 |
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For the year ended 31 March 2021 the charity was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit of its accounts for the year in question in accordance with Section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the preparation of the accounts.
The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statement were approved by the Trustees and authorised for issue on signed on their behalf by:
and were
Olivier Pierre-Noel Chair of Finance sub-committee Company No. 02005971
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Talawa Theatre Company Limited
CASH FLOW STATEMENT
For the year ended 31 March 2021
| Note £ £ Cash flows from operating activities Cash generated from operations 22 60,054 60,054 Cash flows from investing activities Purchase of tangible fixed assets (2,498) Interest received 181 (2,317) Change in cash in the reporting period 57,737 Cash at the beginning of the reporting period 375,507 Cash at the end of the reporting period 433,244 2021 |
£ £ 11,102 11,102 777 777 11,879 363,628 375,507 2020 |
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Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021
1. ACCOUNTING POLICIES
Company information
Talawa Theatre Company is a private company limited by guarantee incorporated in England and Wales.
The registered office is Fairfield Halls, Park Lane, Croydon, CR9 1DG.
1.1 Accounting convention
Basis of Preparation
The financial statements have been prepared in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), published in September 2015. The Charitable Company is a public benefit entity for the purposes of FRS 102 and therefore the charity also prepared its financial statements in accordance with the 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 (The FRS 102 Charities SORP), the Companies Act 2006 and the Charities Act 2011.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest pound.
1.2 Going Concern Basis
The financial statements have been prepared on a going concern basis. The company's ability to continue to trade in the long term is currently dependent on Arts Council Funding. Talawa is an Arts Council National Portfolio Organisation and had funding confirmed for the period 1 April 2018 to 31 March 2022. As a result of the Covid pandemic the Arts Council granted portfolio organisations the opportunity to apply for a 1 year extension to this funding period. Talawa has successfully applied for such an extension and has been awarded funding of £448,407 for the year ended 31 March 2023
The company has unrestricted net assets of £413,559, of which £159,000 has been designated. The directors consider that the company's reserves will be sufficient to cover deficits that may result from unanticipated costs of projects.
On this basis, the directors consider it appropriate to prepare the financial statements on a going concern basis.
1.3 Income
All income is recognised once the company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.
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 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 the 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 assets used.
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Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
1. ACCOUNTING POLICIES (continued)
Support costs are those costs incurred directly in support of expenditure on the objects of the company and include project management carried out at Headquarters. Support costs are allocated on a percentage basis as detailed in note 8.
Charitable activities and Governance costs are costs incurred on the company's educational operations, including support costs and costs relating to the governance of the company apportioned to charitable activities.
1.5 Tangible Fixed Assets
All assets costing more than £500 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 incorporation income and expenditure account.
Tangible fixed assets are carried at cost, net of depreciation and any provisions for impairment. Depreciation 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 basis:
Office equipment
3 - 5 years straight line basis
1.6 Interest Receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company; this is normally upon notification of the interest paid or payable by the Bank.
1.7 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.
1.8 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.
1.9 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 company 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.
1.10 Financial instruments
The company 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.
Page 15
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
1. ACCOUNTING POLICIES (continued)
1.11 Pensions
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
1.12 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 company and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the company 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.
Investment income, gains and losses are allocated to the appropriate fund.
2. Income from donations and legacies
| Arts Council England grant John Ellerman Grant ADLP- Artistic Leadership programme City Bridge Trust funding Without Walls Consortium Croydon's Youth Performance Partnership Talawa Firsts Funding - Martin Bowley Trust Noel Coward Foundation Grant The DOYLY Carte Charitable Trust Grant Leche Trust Grant Croyden Culture Relief Fund Grant Total grants Donations Total donations and legacies Total 2020 |
Unrestricted Restricted Total Total funds funds funds funds 2021 2021 2021 2020 £ £ £ £ 448,407 - 448,407 507,282 - - - 25,000 - - - 4,217 - - - 12,500 - - - 10,500 - - - 5,000 5,500 - 5,500 - - 5,000 5,000 - - 3,000 3,000 - - 2,500 2,500 - - 5,300 5,300 - 453,907 15,800 469,707 564,499 6,037 - 6,037 7,214 459,944 15,800 475,744 571,713 454,645 117,068 571,713 |
|---|---|
Page 16
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
3. Income from charitable activities
| Box office income Participating projects Total 2020 4. Income from other trading activities Income from theatre tax relief Income from King Lear DVD sales Income from unconscious bias training Total 2020 . Investment income Investment income Total 2020 . Analysis of expenditure on charitable activities Production Education Artistic Literary Marketing Total 2020 |
Unrestricted Restricted Total Total funds funds funds funds 2021 2021 2021 2020 £ £ £ £ 1,000 - 1,000 30,727 1,767 - 1,767 1,770 2,767 - 2,767 32,497 32,497 - 32,497 Unrestricted Restricted Total Total funds funds funds funds 2021 2021 2021 2020 £ £ £ £ 5,000 - 5,000 3,143 - - - 375 48,921 - 48,921 53,921 - 53,921 3,518 3,518 - 3,518 Unrestricted Restricted Total Total funds funds funds funds 2021 2021 2021 2020 £ £ £ £ 181 - 181 777 777 - 777 Unrestricted Restricted Total Total funds funds funds funds 2021 2021 2021 2020 £ £ £ £ 147,535 59,274 206,809 266,518 40,982 16,465 57,447 74,037 65,572 26,344 91,916 118,456 40,982 16,465 57,447 74,036 32,785 13,172 45,957 59,229 327,857 131,719 459,577 592,276 490,905 101,370 592,275 |
|---|---|
5. Investment income
6. Analysis of expenditure on charitable activities
Page 17
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021
| 7. Direct costs Administrative, training and staff costs Direct Sundry expenses Direct Hospitality Projects and Performance costs Talawa Young People's Theatre Workshops Writers commission Reading service and Talawa First play Wages and salaries Direct At 31 March 2020 8. Support costs Administrative, training and staff costs Printing, postage and stationery Computer supplies Legal and professional Hire of equipment Cleaning and security Sundry expenses Subscriptions Rent and rates Light and heat Insurances Repairs and renewals Independent examiner's remuneration Bad debt write off Wages and salaries Depreciation At 31 March 2020 |
Total Total Production Education Artistic Literary Marketing 2021 2020 £ £ £ £ £ £ £ 2,847 791 1,265 791 633 6,327 51,109 489 136 217 136 109 1,087 3,073 32 9 14 9 7 72 1,705 23,043 6,401 10,241 6,401 5,121 51,207 140,608 0 0 0 0 0 0 0 0 0 0 0 0 1,366 490 136 218 136 109 1,088 1,835 2,507 696 1,114 696 557 5,570 40,222 119,218 33,116 52,986 33,116 26,493 264,929 214,616 148,626 41,285 66,056 41,285 33,028 330,280 454,534 204,538 56,817 90,907 56,817 45,455 454,534 Total Total Production Education Artistic Literary Marketing 2021 2020 £ £ £ £ £ £ £ 12,272 3,409 5,454 3,409 2,727 27,271 12,845 3,015 838 1,340 838 670 6,700 5,351 3,143 873 1,397 873 699 6,985 7,602 5,310 1,475 2,360 1,475 1,180 11,799 24,322 - - - - - - - - - - - - - 1,006 3,280 911 1,458 911 729 7,288 10,809 658 183 293 183 146 1,463 169 (2,542) (706) (1,130) (706) (565) (5,648) 12,990 - - - - - - - 1,957 544 870 544 435 4,349 6,141 - - - - - - - - - - - - - 3,500 - - - - - - - 29,946 8,318 13,309 8,318 6,655 66,546 50,630 1,144 318 509 318 254 2,543 2,376 58,183 16,162 25,860 16,162 12,929 129,296 137,741 61,979 17,220 27,549 17,219 13,774 137,741 |
|---|---|
The support costs shown above have been allocated across the Statement of Financial Activities as follows: - Production costs 45% (2020: 45%)
-
Education costs 12.5% (2020: 12.5%)
-
Artistic costs 20% (2020: 20%)
-
Literary costs 12.5% (2020: 12.5%)
-
Marketing costs 10% (2020: 10%)
Page 18
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021
9. Analysis of expenditure by expenditure type
| Production Education Artistic Literary Marketing Total 2020 |
Staff costs Depreciation Other costs Total Total 2021 2021 2021 2021 2020 £ £ £ £ £ 149,164 1,144 56,501 206,809 266,518 41,434 318 15,695 57,447 74,037 66,295 509 25,112 91,916 118,456 41,434 318 15,695 57,447 74,036 33,148 254 12,556 45,957 59,229 331,475 2,543 125,559 459,577 592,276 265,246 2,376 324,653 592,275 |
|---|---|
10. Net income/ (expenditure)
This is stated after charging:
| Depreciation of tangible fixed assets: assets owned by charity Independent examiner's remuneration |
2021 2020 £ £ 2,543 2,376 3,500 3,500 |
|---|---|
During the year, no Trustees received any remuneration (2020: £nil). During the year, no Trustees received any benefits in kind (2020: £nil). During the year, no Trustees received any reimbursement of expenses (2020: £nil).
11. Staff costs
Staff costs were as follows:
| Wages and salaries Social security costs Other pension costs |
2021 2020 £ £ 301,285 238,080 24,288 21,979 5,902 5,187 331,475 265,246 |
|---|---|
The average number of persons employed by the company during the year was as follows:
| Direct charitable work Administration |
2021 2020 No. No. 7 7 2 2 9 9 |
|---|---|
No employee received remuneration amounting to more than £60,000 in either year.
Key management personnel consist of the Joint Chief Executive Officers, the Artistic Director and Executive Director. Remuneration and benefits received by key management personnel amounted to £122,873 (2020: £112,270).
Page 19
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021
12. Tangible Fixed Assets
| Cost At 1 April 2020 Additions Disposals At 31 March 2021 Depreciation At 1 April 2020 Charge for the Year Eliminated in respect of disposals At 31 March 2021 Net Book Value At 31 March 2021 At 31 March 2020 13. Debtors Trade debtors VAT recoverable Other debtors 14. Creditors Trade creditors Other taxation and social security Other creditors Accruals and deferred income |
Office Total Equipment £ £ 11,882 11,882 2,498 2,498 - - 14,380 14,380 6,326 6,326 2,543 2,543 - - 8,869 8,869 5,511 5,511 5,556 5,556 2021 2020 £ £ 4,032 2,124 750 272 23 4,805 2,396 2021 2020 £ £ 3,028 17,839 6,890 5,365 783 433 3,500 3,500 14,201 27,137 |
|---|---|
Page 20
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021
15. Statement of funds - current year
| Designated funds Designated minimum reserve Designated artistic reserve General Funds General funds Total unrestricted funds Restricted funds ACE: Catalyst Evolve Esmée Fairbairn Writer's Programme ADLP- Artistic Director Leadership City Bridge Trust funding Croydon's Culture Relief Fund Grant Noel Coward Foundation Grant The DOYLY Carte Charitable Trust Grant Leche Trust Grant Total restricted funds Total of funds |
Balance at Transfers Balance at 01/04/2020 Income Expenditure in/out 31/03/2021 £ £ £ £ £ 60,000 - - 43,000 103,000 56,000 56,000 60,000 - - 99,000 159,000 164,603 516,813 (327,857) (99,000) 254,559 164,603 516,813 (327,857) (99,000) 254,559 224,603 516,813 (327,857) - 413,559 82,152 - (82,152) - - 20,293 - (20,293) - - 14,903 - (14,903) - - 9,141 - (9,141) - - 5,230 - (5,230) - - - 5,300 - 5,300 5,000 5,000 3,000 3,000 2,500 2,500 131,719 15,800 (131,719) - 15,800 356,322 532,613 (459,576) - 429,359 |
|---|---|
Page 21
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
15. Statement of funds continued - prior year
| Designated funds Designated minimum reserve General Funds General funds Total unrestricted funds Restricted funds ACE: Catalyst Evolve Esmée Fairbairn Writer's Programme ADLP- Artistic Director Leadership City Bridge Trust Funding Without Walls Consortium Croydon's Culture Relief Fund Grant Total restricted funds Total of funds |
Balance at Transfers Balance at 01/04/2019 Income Expenditure in/out 31/03/2020 £ £ £ £ £ 60,000 - - - 60,000 60,000 - - - 60,000 164,071 491,437 (490,905) - 164,603 164,071 491,437 (490,905) - 164,603 224,071 491,437 (490,905) - 224,603 28,477 59,851 (6,176) - 82,152 55,247 (34,954) - 20,293 25,000 (10,097) - 14,903 12,010 4,217 (7,086) - 9,141 20,287 12,500 (27,557) - 5,230 - 10,500 (10,500) - - 5,000 (5,000) 116,021 117,068 (101,370) - 131,719 340,092 608,505 (592,275) - 356,322 |
|---|---|
ACE: Catalyst Evolve
The Catalyst Evolve funding enables the company to build its fundraising capacity, provide staff and board members with training and give the organisation the technology and resources it needs to create a step-change.
Esmée Fairbairn
The Esmée Fairbairn grant is used for Talawa's brand new project called MAKE - Talent Development Programme. Through MAKE the company offers a programme of activity that provides key support at each stage of the artists career.
Writer's Programme
Grants from the John Ellerman Foundation and the Orseis Trust are used for Talawa's Writer's programme. The programme involves commissioning new writers and providing them with a range of resources, activities and workshops to help their development, showcase their work, and support audience development across the UK.
The Clore Leadership Programme Bursary
The Bursary funding enables a staff member to attend a leadership development training course in South Africa.
Page 22
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021
ADLP Partnership Agreement
The ADLP partnership agreement is for the development of a new Artistic director and is used to fund their training at the Talawa office.
City Bridge Trust Funding
This grant enables Talawa to conduct a feasibility study and organisational development plan with a view to acquiring its own building in London.
Without Walls Consortium
Funding received for development of a new theatrical work for performance in the streets called The Tide.
Designated Minimum Reserve
The designated minimum reserve of £103,000 is to cover the costs of salaries and overheads for a three month period.
Designated Artistic Reserve
The designated artistic reserve of £56,000 is to cover any potential overspend on productions
16. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year ysis of net assets between funds - prior year Tangible fixed assets Current assets Creditors due within one year |
Unrestricted Restricted Total funds funds funds 2021 2021 2021 £ £ £ 5,511 - 5,511 422,249 15,800 438,049 (14,201) - (14,201) 413,559 15,800 429,359 Unrestricted Restricted Total funds funds funds 2020 2020 2020 £ £ £ 5,556 - 5,556 260,835 117,068 377,903 (27,137) - (27,137) 239,254 117,068 356,322 |
|---|---|
Analysis of net assets between funds - prior year
Page 23
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS For the year ended 31 March 2021
17. Analysis of cash and cash equivalents
| Cash in hand Total |
2021 2020 £ £ 433,244 375,507 433,244 375,507 |
|---|---|
18. Pension commitments
The company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and at the balance sheet date amounts of £764 (2020: £433) were payable to the fund, which are included in creditors.
19. Operating lease commitments
At 31 March 2021 the total of the company's future minimum lease payments under non-cancellable operating leases was:
| Amounts payable: Within 1 year Between 1 and 5 years Total |
2021 2020 £ £ - 1,793 - - - 1,793 |
|---|---|
20. Liability of members
The company is limited by guarantee and the liability of members is limited to £1 each. At 31 March 2021 there were 11 (2020: 11) members.
21. Reconciliation of group net income to net cashflow from operating activities
| Net income for the reporting period Interest Income Depreciation (Decrease) / increase in provisions Decrease in debtors (Decrease) / increase in creditors Net cash generated from operations |
2021 2020 £ £ 73,037 16,230 (181) (777) 2,543 2,376 - (1,000) (2,409) 13,005 (12,936) (18,732) 60,054 11,102 |
|---|---|
Page 24
Talawa Theatre Company Limited
NOTES TO THE FINANCIAL STATEMENTS
For the year ended 31 March 2021
22. Prior year Statement of Financial Activities
| Income from: Donations & legacies: Arts Council England Grant Esmée Fairbairn Grant John Ellerman Grant Without Walls Consortium City Bridge Trust funding The Space grant Other donations and legacies Charitable activities Other trading activities Investments Total Income Expenditure on: Charitable activities Total Expenditure Net Income Transfers between funds Net movement in funds Fund balances at 31st March 2019 Fund balances at 31st March 2020 |
Unrestricted Restricted Total Total Funds Funds 2020 2019 £ £ £ £ 447,431 59,851 507,282 440,305 - - - 50,000 - 25,000 25,000 25,000 - 10,500 10,500 10,500 - 12,500 12,500 37,500 - 5,000 5,000 - 7,214 4,217 11,431 39,959 32,497 - 32,497 7,753 3,518 - 3,518 6,289 777 - 777 415 491,437 117,068 608,505 617,721 (490,905) (101,370) (592,275) (540,761) (490,905) (101,370) (592,275) (540,761) 532 15,698 16,230 76,960 - - - - 532 15,698 16,230 76,960 224,071 116,021 340,092 263,132 224,603 131,719 356,322 340,092 |
|---|---|
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