TANDEM SET AND SCENERY LTD
Tandem Set & Scenery is an award-winning set and scenery company established in 2010 by Glen Hughes and Leah Morgan. They’re pioneers of the immersive industry and specialists in the booming escape room sector. Past Clients include: Escape Hunt PLC, BBC, Amazon, Netflix, Secret Cinema, Luna Cinema and commercial projects for Heineken, Jose Cuervo, Kraken Rum, Birra Moretti and many other top tier brands.
Bringing creativity, innovation and excellence to the theatre and entertainment industry.
My background in design, carpentry and touring theatre productions and Leah’s in graphics, painting and prop making is the perfect combination for a creative scenery building company. We began working from our studio in Stoke Newington. Soon running out of space, Tandem moved a bit further north into a new 5,000 sq ft workshop in leafy Waltham Abbey until Spring 2018. When an opportunity came to double the size of our workshop space and move out of London to Paddock Wood in Kent. We’ve sourced a team of skilled carpenters, metal workers, scenic painters, prop and model makers, CNC operators, labourers and office workers that all enjoy working together on new exciting projects. Our backgrounds and teams expertise is what has enabled the growth of Tandem Set and Scenery.
We are the leading Escape Room Set builders in the UK. Winners of the Webby Award for our Without Remorse livestream we made for Amazon Prime, apparently this means we’re officially the best of the internet. We’re just finishing up our end of year accounts. Our turnover is approximately £2.4m, which is almost double our income from last year, with a handsome profit of 400k. We’ve exited the Global Pandemic with velocity. We genuinely love what we do and are excited about the opportunity to expand.
The directors are providing a personal guarantee, this means that if the business fails the directors become personally liable for the loan. The directors are homeowners, however, this does not ensure there are sufficient assets should the loan need to be recovered. There is no debenture over the assets for the company. There have been no CCJs against the business or directors. The bank statements demonstrate reasonable affordability. In the 2020 to 2022 accounts, administration expenses were £369,550, £531,514 and £795,504 respectively. The other operating income from 2020 to 2022 was £244,760, £36,811 and £349,535. The administration expenses in the 2020 to 2022 financial table below includes the addition of other operating income. Although the business had negative tangible net worth in the accounts for the year ending 30 April 2021, there has been an increase into a positive tangible net worth in management accounts for the 11 months to February 2022 which report a much-improved position with turnover and gross margin increasing. The Equifax score and grade, on which we base our assessment of risk, are based on the 2021 accounts and we have performed our assessment on financial information which was not available to Equifax.
Where will the funds go?
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Paddock Wood, UK
"Bringing creativity, innovation and excellence to the theatre and entertainment industry."