Charlty nUmr. 1011504 PRINCE HENRYS. EVESHAM. ARTS THEATRE TRUST UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024
PRINCE HENRYS, EVESHAM. ARTS ThEATRE TRUST CONTEKrs Page Reference and admlnistrative details of the Charity. tt5 Trustees and advlsers Trustees. report Independent examlnerfs report Statem•nt of financlal actlvltles Balance sheet Notos to the financlal stalements 9-16
PRINCE HENRYS, EVESHAM, ARTS THEATRE TRUST REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MAY 2024 Trustaes Dr Anthony Evans (Headteacher of Prlnce HenWs High School) Mr Stephen Cook (Chair) Mr John Palnter Mr Aan Roberts Mrs Susan Sollls Mr John Smith Mrs Jenny McLeish (appointed 22 November 2023) Charfty reglstere(I number 1011504 Prlnclpal office The Henrician Theatre Vicioria Avenue WR114QH Page 1
pNCE HENRYS, EVESHAM, ARTS THEATRE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 MAY 2024 The trustees present thelr report wtth the 11nanclal statements of the charity for the perlod ended 31 May 2024. The trustees hav8 prepared the accounts on an accruals basis. changing from the previous receipts and payments basis prasentod in May 2023. The prtor year balances have beon calculated to form a Irue comparison beiween years. Slructurn & R•crultment of Trn$teg$ The charity is controlled by Its goveming document, a Irust deed of 30th April 1992, amended on 20lh July 2020. The Board of Trustees consists of seven Trustees; one eX1Clo (the headteacher of Ihe School), Iwo appointed by the Governlng Body and four Copted trustees to be appointed by resolutlon of the other Irustees for the time being, having regard to their special interests arKI qualificattons in relation to the Charity. The Chalr and Trustees serve for five years and ar8 then eligib16 for reappointmenL The Board of Trustees meet at least annually to dlscuss strategic, operational and finan(aal matters. Prlnclpal Actfvllles and Objectlves Prince HenrVs Evesham. Arts Theatre (Va 'The Henriclan,) ig an independent trust set up to manage arKI operate Ihe theatre owned by Prince Henws High School Academy Twst. Fonned in 1992. the goals of the charity is to provlde advancement of the education of the pupils of the school and to provide advancement of education in the arts of the general public by the maintenance of an art Iheatre. The trust's misslon Is to create and develop a dSvers8 arts programm8 for the local communlty of Evesham. Worcestershirg. and the surroundlng aroas and to davelop and Improve Ihe theatre over tima to meat tha needs of tomorrow's audlences. The tsust holds universal values throughout tha organisation aThd welcones audiences and staff frorn all f8iihs, religions, cullures and raS and believes that the arts shoutyJ be accessible to all. Highlights from tho porlod ondlng 31 May 2024 InGlude: Attendan improved again year-on-year, with more se11uts then previous years. Within the perlod, four shows were perfomied by local amateur dramatlcs groups (Phoenlx Theatre Group and Evasham Operatic & Dramatic SocJety). The Charity was happy to report that all shows were well attended by Ihe general public and aspire to continue Ihis attendance in future shows. A grant of £80k was approved by the Trustees to Prlnce Henryls Hlgh School to support the cost of refurt)ishment works to the Henriaan includirvJ re-flooring of the front of the auditorium, replacement of fire doors, Coffee bar refurbishmenl and replament of lighting bars. The Henrician already has 51 confinned bookings for 202425 and 7 confinned booklngs for 202&26, wlth pre-sales of tickets increasing by 57.80/0 to £24.3k as at 31 May 24 (61 bookings in 2023-24). Page 2
PRINCE HENRYS, EVESHAM, ARTS THEATRE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Flnanclal revlow a. Reserves pollGy The trustees seek to ensure the long-temi financial viability of the organlsatlon. In doing 80, they conslder the perceived operating risks, strategic objectives and tho requirod18v81 of unrestricted funds. At 31 May 2024, total funds stood at £72,732 (2022-23 £101,523) of whlch all of the funds 8re unrestrfcied. Thls equates to 7.6 months of experKllture. Th8 Trust883 believe that thè currently held re88rv88 ar8 adequate to ensure that the Ofganlsatlon can contlnue to operate a8 a golng concem. Oporallng R•sult8 The accounts have been prepared on an accruals basss, wlth a deficlt for the perlod endlng 31 May 2024 of £28,791 (2022-23, surplus £60,805). Plan8 for fulur• p•rfods The charity believes that the Shov dellvered by the Hgnrfcian 8re now at capaclty durfng the open season. However. there are fvrther r8furblshments needed to the backstage areas, spedfically the green room to create more comfortabl8 and profe&81onal atmosphere for hlrers. Other plans to enhanc8 Iha experience of patrons include more digltal Sfdnage throughout theatre foyer. newer seatlng In foyer and r&placlng fl¢)oring In auditorfum, Page 3
PRINCE HENRYS, EVESHAM. ARTS THEATrE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Statement of Trust•e8' Msponslbllld The Trustees ar8 responsible for preparing the TnBtees' rep(Yl and th8 financial statements In accordance with applicable law and United KIngdn Accwnting StaThlards (Uniled Kingd Generdty Accepted Accountlng Pradlce). The law appllcablo to charitles in Enand & Wales requlros ts Trusiees to prepare flnandal statements for eath financial year glve a true and fay VI of th8 state of affairs of th8 Charlty and of its Sncoming resources and application of SoUrces, induding ts Incon arKI expendIre. for that pe0d. In preparlng these financial statements. the Trustees arn required to: 8elect sultable accountlng polldes and then apply them conslstenty, observe the methods and principles of the Charities SORP {FRS 102): make judgments and accounting est5mates that are reasonable and pruden( 8tstè whether applic8bl8 UK ACcntIng St8ndards (FRS 102) have been followed, 8ubj8¢t lo any material departures dl8cIo8ed and explained in the financi ststements: prepare the finandal staternents cm the golng concem basi8 unless ft Is Inapproprlate to presume that the Charity WIU contEnue in business. Trustee8 are r88pon8ible for keeping adequale accounling record8 that are 8uffici8nt to Show and explaln the Charivs tran8aclion8 and dl8c108e re880nable accuracy at any time the financial posltlon of the Charlty and enable them to ensure that the fmancial statements comply the Charitles Act 2011, Ihe Charlty (Accounts and Reports) Regulations 2008 and ts provisions of the Trust deed. They are also responslble for safeguarding the ass8ts of thè Charity and hence for r8a8(xwble steps for the proveniion and detection of fraud and Other Irregularltss. Approved by order of the members of tho board of Twstees and sign&J on thelr behalf by: lars phen Cook {Chair of Trustees) Date: 1811212024 Paga 4
PRINCE HENRYS. EVESHAM. ARTS THEATRE TRUST INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MAY 2024 Independent Examlnerf8 Report lo the Tru8lee8 of Prfnce Henrf8, Eve8ham, Art8 Theatre Tru8t (Yho Charlty,) I report to the charlty Tru8tee8 on my examlnatlon of the accounts of the Charlty for tha >Bar ended 31 May 2024. Responslblllths and Ba819 of Report As the Trustees of tha Charity you are re$ponslbl6 for the preparatlon of the accounts In accordance wlih the requlrements of the Charllles Act 2011 Cthe 2011 Acr). I report In respect of my examlnatlon of the CharW8 accounts carrfed out under sectlon 145 of the 2011 and In carrylng out my examln8tlDn I have followed the applicable Dlrectlons glven by the Charfty Commlsslon under S8Ctlon 145(5)(b) of the 2011 Act. Ind•pd•Tht Examln•trs 8tatom•nt Slnce the Charllys gross Income exceeded £250,000 your examlner must be a member of 8 body118t8d In sectlon 145 of the 2011 Act. I conflrm that l am quallfied lo underlake the examlnatlon because l am 8 member of The Instiluto of Chartered Accouniants In England and Wales, whlch Is one of the listed bodl88. Your attenllon Is drawn to tha fact that the Charlty has prepared the accounts In accordance wlth Accountlng and Reportlng by Charltles: Statement of Recommended Practlce appllcable to charitles prepaTlng thelr accounts In accordance wlth Ihe Flnandal Reportlng Standard appllcable In the UK and Republlc of Ireland (FRS 102) In preference lo the Accounting and Reportlng by Charlti8s: Statement of Recommended Practlce1&8ued on 1 April 2005 wthlch Is referred to In the exlant regulatlon8 but has been withdrawn. l understand that thls has been done in order for the accounts to provlda a tnJ8 and fair view In accordanch wlth the Generally Accepted A¢untIng Practice effectlve for reportlng peri¢)ds beginning on or after 1 January 2019. I have compleled my examlnatlon. I confimi that no matters have come lo my attention In connectlon wlth the examlnatlon glvlng me cause to belleve that in any malerfal respect: accounting records were not kept In respect of the Charfty as requlred by sectlon 130 of the 2011 Act; or the accourbts do nol accord with those records; or the accounts do not comply with the appllcable requlrements concerning the fonn and content of accounts sei out in Ihe Charities (AcGounts and Reports) Regulations 2008 other than any requlrement that th8 accounts give a 'true and fairf view whlch Is not a matter CA)nsidered as part of an Indep8nd8nt examination. I have no concems and have come across no other rnatters in connection with the examinatlon to which attention should be drawn in this report in ord8r lo enable a propor underntanding of th• accounts to be reached. This report is made solely lo the Charitys Trustaas, as a body, in accordance wlth Part 4 of the Charifjes (Accounts and Reports) Reguktions 2008. My Vrk has been undertaken so that I might stat8 to th8 charit$ Trustees those matters l am required to stats tt) them in an IrKlependent examinerfs report and for no other purpose. To the fullest extent pemiitted by law, I do not accept or assume responsibility to anwjne other than Ihe Charity and the Charitys Trustees as a body. for my work or for this reporL Page 5
PRINCE HENRYS, EVESHAM, ARTS THEATRE TRUST INDEpENDEr EXAMINER'S REPORT (CONTINUED) FOR THE YEAR ENDED 31 MAY 2024 Signed: Dated: 19 December 2024 Helen Blundell LLB FCA FCIE DChA Crnwe U.K LLP Black Country House Rounds Green Road Oldbury West Midlands B69 2DG Page 6
PRINCE HENRYS, EVESHAM, ARTS THEATRE TRUST STATEMENT OF FINANcL ACTNMES FOR THE YEAR ENDED 31 MAY 2024 As rnstated Total funds 2023 Totsl funds 2024 2024 Income from: Donations and legacies Charitable activities 52,835 189,671 38.279 S235 189.671 38279 61,260 151,241 29, 787 776 Other trdding activities Investrnents Total income 284,241 284241 243.064 Expendlture on: Charitable activtttes 297,628 297,628 197,663 Total expendlture 297.628 297,628 197.663 Net movement In funds (13.387) (13,387) 45.401 RencIlIatIOn of fvnds: Total funds brought forward Net movemenl in fur¢ds 8Q119 (13.387) 86.119 (13.387) 40,718 45.401 Total funds carriod forward 72,732 72,732 86.119 The Ststement of Flnandal Ackn IrKludes all gair£ and losses recognlsed in th8 year. The notes on pages 9 to 16 fonn part of the58 1kn3r slataments. Page 7
PRINCE HENRY8. EVESHAM. ARTS THEATRE TRUST BALANCE SHEET AS AT 31 MAY 2024 As rnstated 2023 2024 Notg Curr•nt as80ts Stocks Debtors C8sh at bank and in hand In6 1810 95,370 2,386 37,061 83,831 10 100.916 123.278 Creditors: arnounts falllng due wlthln one yEar 11 (28.184) (37.159) Net current a88•ts 71732 86,119 Total nel a**•ts 71732 8&119 Charlty fund• Unr88trfcted funds 14 71732 86.119 Totsl lund8 72,732 86,119 The finandal staternnts wore approved and aUUm¥ frK Issue by the TN8teo8 and slgned on thelr behalf by. Mr slephen Cook (Chalr of Trustees) Dale:1811212024 The notes on p8ges 9 10 16 f(xm part of these fmancial ststements. Page 8
PRINCE HENRYS. EVESHAII, ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 General Infornon Prinix Henrys, Evesharn, Arts Theartre is a charity rx)nstituted urKlar the goveming document The Prince Hn8rls School Ev8sham Charitabl8 Trust - Trust De8d' in England. whose reglstered office and primary ace of busin8ss Is The Henriaan Theatre. Wictoria Avenue.Evesham. WVR11 4QH. li has no share Gapltal. It Is wlndpal aGtsvitBs are to sUPpt Iha advancm8nt of tha educatlon of the pupds of the school; and the advancement of educatlon in the arts of general Puts¢ by the malntenance Df an arts theatre. Accountlng policies 2.1 Basls of preparatlon of flnanclal statements Th8 finanrial ststements have been prepared in aceanCe with the Charitiès SORP {FRS 102) - Accounting and Rewting by Chariiies." Statement of Recommended Practw appli&qble to charities preparirKJ therr accounts in accordance wth the Financial Rep1ft9 Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019). the Financial Reporting Standard applicab in the UK and RepLknlic of Irejarnj (FRS 102) and the Charities Act 2011. The financial statements have been prepared to give a true and fairf view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provlde a Irue and fairf vw. This departure has involved fd1ovng Charities SORP (FRS 102) published in October 2019 rather than the Accounting and Reporbng by Charilies: Statement of Rec¢)mmended Practice effective from 1 April 2005 which has since been withdrawn. Prince Henrrfs, Evesham. Arts Theatre Tnt meets the definition of a public benefft entity under FRS 102. Assets and liabilities are initially recognised at historical cost OT transaction value unless otherwise stated in the relevant accounting Wicy. 2.2 Income AJI income * recogni38d or8 th8 Charity has entitlent to the income, il is probable that the Income wlll be recelved and Ihe amount of Income receivable can be measurad r81iably. Income lax recoverable in relaoon to Inveslment Income is recognlsed at ts tlma th8 Investment Income ts recelvable. 2.3 Expenditu Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a Ihird paty, it is probab18 that a transfer of e(x)nomic benefits )Mll be required in settkment and the amount of the obligation rAn be measured reliably. Expwditure is dassified by activity. The costs of each acbvity are made up of the tolal of direct costs and shared costs, induding support costs involved in undertaklng each acbvity. Direct Costs allributable to a single activty a allocated directty to that actiwty. Shared costs whith contribute to more than one actsvity and support costs which are not attributable to a Sing activity are apportior between those activides on a basis CA>nsistent with the use of resources. Central staff costs are allocated on the basis of time spent. and deweciation Expenditure on dnble activities is incurred on directly undertakthg the activities whlch further the Charivs obie(*ves, as well as ary associated supp(yt costs. All expenditure is indusive of Irrec0 VAT. Page 9
PRINCE HENRYS. EVESHAM, ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Accountlng Wlcle8 (conllnued) 2A Int•ro8t r•c•lvablo Interest on furKls held on deposlt Is Induded when receIva18 and the amount can be measur8d reliably by the Charlty, thls is nornialty upon notfficatlon of the Interest pald or payable by the Institutlon wlth whom th8 funds ar8 deposlted. 2.5 Stocks siocks aro valued at Ihe Iw ol cost 8ThJ net reallsable value after making duo allowance for obsolete and skm-moving stocks. Cost Includes all dlrect costs and an approprlate proportlon of fixed and variable OVertd8. 2.6 Debtors Trade and other debtors afe recognlsed at the 8eltlement amount after any tradè d18count offered. Prepayments are valued at the amount prepaid nel of any trade disc¢yJnts due. 2.7 Cash al bank and In hand Cash at bank and In harma indudes cash and short-term hlghly liquid Investments with a short maturity of three months or less the date of aqulsitbn or openlng of the deposlt or 51milar account. 2.8 Llabllttlm and provlslons Liabli ltses are recognised when thero is an obllgalion at the Balanc8 shaat data as a resull of a past event, it is probable that a transfer of economic benefrt wlll be required In settlemenL and Ihe amount of the 8ettlement can ba estlmatad rallabty. LlabHltles are recognlsed at the amount that the Charfty anttclpales Et wlll pay to settte the debt or the amount St has recaved as advanced pajrynents for the goods or servlces It must provkle. Provlslons are rneasured at the best estlmate of the amounts required to setue Ihe obligation. Where the effect of the time value of money is material. the provi8ion is based on the presen( value of those amounts, dlscounted at the w&iax dlscount rate Ihat rellects the rlsks specific to the 1Sablllty. The unwinding of the discount is recognlsed In Ihe Stalement of financial activities as a finance cosi. 2.9 Fln•ncknl instruments The Charity onty has financial assets and financial liabilities of a kind that quallty as baslc finandal inslruments. Baslc finandal inslruments are inltialty recognised at transaction value and subsequentty measured at their settlement valup vith ihe exception of bank loans which are subsequenty measured at amortised cost using the effe(th inl?resl method. 2.10 Fund accounting General funds are unrestricted funds w1Ch are availab for use at the discretion of the Trustees in furtherance of the general obiectsves of ts Charity and whith have not been designated for other purposes. Investrnent Income, galns and losses are allocated lo the appropriate fund. Page 10
PRINCE HENRYS, EVESHAM, ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Accountlng pollcle8 {contlnued) 2.11 Comparatlves The flnanclal statements were prepared on a recelpts and payTnents basls for tho year ended 31 May 2023. The comparallves for that year have now been reststed to an accruals bas18. Incomo from donatlon8 and legacle• Unrostrlctsd fund• 2024 Totsl funds 2024 Donallon8 52,835 52.835 As restated As restatsd Unrestricted Total fvnd8 funds 2023 2023 Oonation8 61,260 61,260 Incomo Irom charltabl• a¢llvlt1•8 Unrnstrfet¢d funds 2024 Total funds 2024 PPUPRS Income Squara discounts Box Office Venue Hlres Transaction Fees 1,613 (3,523) 150,597 34,610 6.374 1,613 (3,523) 150,597 34,610 6.374 189.671 189,671 Page 11
PRINCE HENRYS, EVESHAPII. ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Income from charltable actlvltles (contlnued) As restated As res¢al8d Unrestncted Total funds funds 2023 2023 PPLIPRS Incom8 Box Office Venue Hires 1,482 119,766 29,993 1.482 119,766 29,993 151.241 151,241 Investmont In¢om• Unre8trlcted funds 2024 Totsl fund8 2024 Bank interest 3.458 3,456 As restated A8 rnstated UnrestrfGled Total fvnds funds 2023 2023 Bank interest 776 776 Pagè 12
PRINCE HENRYS, EVESHAM, ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 knalysls of expen(lltsJre by actlvl Support Gosts 2024 Total funds 2024 Promoters Fees Management Fee Running CA)Sts Grant out (PHHS) Other costs Front of House cosls Uttlities Administration costs Bar supplles CleanirvJ Accountancy fees 100,614 34.500 4,647 80.000 7.453 20.029 4.797 13.981 19.919 10,488 1.200 100,614 34.500 4,647 80.000 7,453 20.029 4.797 13,981 19,919 IOA88 1,200 297.628 297,628 As restaled AS resta(ed Support To181 fvnds 2023 2023 Promotsrs Fe8S Management Fee Other costs Front of House costs Bar Supplies Admlnlstrallon costs 111,997 30,tll) 20,937 16.436 17.992 301 111,997 30,000 20,937 16,436 17,992 307 197,663 197.663 Page 13
PRINCE HENRYS, EVESHAPJI, ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 Independant examlnerfs Yemunerallon 2024 2023 Fees payable to the Charitys independent examiner for the independent examination of the Charitys annual accounts 1.200 Trustees, remunwallon and exponses During the year, no Trusiees received any remuneratlon or other benefits (2023 - £NIL). During the year ended 31 May 2024, no Trustee expenses have been incurred (2023 - £NIL). Stocks 2024 2023 Flnlshed goods and goods for resal8 2.n6 2,386 10. Debtors 2024 2023 Due wfthln one year Trade debtors Other debtors PPaYMents and accrued income 2,608 36,453 202 2,810 37,061 Page 14
PRINCE HENRYS, EVESHAII, ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 11. Cradltor8: Amounts falllng due wlthln one year As restated 2023 2024 Trade creditors Amounts owed to group undertakings Other credl Accwals and deferred Income 395 21,360 452 26,841 15.404 28.184 37,159 12. Flnan¢lal Instruments 2024 2023 Flnanclal a88et• Flnanclal a888ts m8a8ured at falr valuo through Incom8 and •xpandlture 95.370 83,831 13. A¢Grual8 and defvrrod In¢ome 2024 2023 Delerred in(x)rn8 811 June 2023 Resources deferred during the ar Amounts released from prevlous perfads 15,404 24301 (15,404) 15,404 ooforrod Income at 31 May 2024 24.301 15,404 Def8rred incorne of £24,301 consists ol Income related to events taklng place in financlal year ending 2025. Page 15
PRINCE HENRYS, EVESHAM, ARTS THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024 14. Statement of funds Statement of funds - current year Balance at 1 June 2023 Balance at Inc(xne Expendlture 31 May 2024 Unrestrlcted funds General Funds- atl funds 119 284241 1297,628) 72,732 Statoment of fvnds - prlor y Balance at As restated As restaled Balance al l June 2022 Income Expenditur8 31 May 2023 Unrestricted funds General Funds- all funds 40,718 243,064 (197.663) 86.119 Page 16