Charity registration number 1015546 Company reglstration number 02752793 (England and Wales) DORCHESTER ARTS ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 DORCHESTER ARTS LEGAL AND ADMINISTRATIVE INFORMATION Trusteos P Smith A Eigeland H Trevorrow Aconstable M Willdridge S Veale A Wakeman H Hutchinson T Frere (Appointed 20 January 2024) (Appointed 20 January 2024) (Appointed 8 August 2023) (Appointed 20 August 2024) Secretary M Tattersall Charity number 1015546 Company number 02752793 Registered office Magistrates, Room Corn Exchange High East Street Dorchester Dorset DT1 1HF Independent examiner CB Reid Limited Wadebridge House 16 Wadebridge Squaré Poundbury Dorchester Dorset DT13AQ DORCHESTER ARTS CONTENTS Page Trustees, report Independenl examinerfs report Stalement of financial activities Balance sheet Notes to the financial statements 10-20 DORCHESTER ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2024 The trustees present their annual report and financial statements for the year ended 31 March 2024. The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's goveming document, the Companies Act 2006 and "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 1021. (as amended for accounting periods commencing from 1 January 2016) Objective$ and activities a. POLICIES AND OBJECTIVES The principal objective of the company is to promote, maintsin. improve and advance education particularly by the encouragement of the Arts. Dorchester Arts aims both to respond to the needs of the community and lo promote events of the highest quality, and in doing so create well informed and enthusiastic audiences, to enable creativity, talent and skills of local people. We have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to the aims and objectives they have set. b. ACTIVITIES FOR ACHIEVING OBJECTIVES Dorchester Arts meets its objectives by running a professional and community arts programme. c. MAIN ACTIVITIES UNDERTAKEN TO FURTHER THE CHARITYS PURPOSES FOR PUBLIC BENEFIT Dorchester Arts contributes to the cullural and social life of Dorset's county town and the wider county Ihrough programming arts events every week of the year. We seek lo provide work suited to a very wide range of audien￿$, including specialist work for marginalised or little-served audiences such as those with Profound and Multiple Learning Difficulties. In addition, we either directly organise or support a number of regular groups that allow local people lo further their own creativity. including: Pop Club {11-18). Dorchester Youth Theatre {7-181. Connect drama (all ages) and DOrC￿..eStra community orchestra (all ages). In addition, we organise arts activities for specific groups, such as our regular Parkinson's Dance classes, Elevate {dance for MS) and Rise (art therapy for post-natal depression and anxiety) as well as supporting annual events for young people and participatory activities linked lo our performance programme. We continue to deliver this health and wellbeing through the arts programme in Sherborne as well as Dorchesler. We organise major participatory projects every few years, involving participation activities for musicians, dancers. visual artists and those living with chronic health conditions and disabilities. The health and social cohesion benefits of providing a regular, integraled programme of arts performances and activities are well recognised and are reflected in our Funding Agreemenls with Dorchester Town Council and Dorset Council. We maintain accessible pricing across our program and offer discounts for those on low income and for young people. Essential carers can attend all performances free of charge. We provide opportunities for audiences and artists to meet and discuss their work {e.g. through post-show Q&A sessions or artist talks at exhibitions) to further our educative aims and broaden public appreciation of the arts. We support local creative talenl through providing a plafform for developing and performing new work (music, dance, drama and film) and through small- and large-scale projects drawing on local talenL We work closely with our partner arts and culture organisations (including Activate Performing Arts, Dorset Museum. Shire Hall, New Hardy Players, Dorset Community Play Association and a variety of local festivals eto) and non-arts organisations (including local Councils, healthcare providers, and venues suited to performances and participation activities) to ensure that a rich mix of interlinked arts activities is available to the local population throughout the year. DORCHESTER ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Achievements and performance . REVIEW OF ACTIVITIES DorchesterArts aims lo 'bring the best of the arts to Dorset's county town, give our community creative opportunities and nurture local talent because we believe that where the arts thrive people and places do loo.. This is done through a programme of community arts activities and professional performances. Dorchester Arts operates from the Corn Exchangelmunicipal Buildings in Ihe centre of town and enjoys excellent relations with the Dorchester Town Council, the owners of the premises. A wholly owned subsidiary, Dorchester Arts Trading Limited. operates the bar located at the Corn Exchange and provides bar services for events held at other venues. Our mission is to place the arts at the heart of our community, so as to involve, inspire and entertain people all year round. Our goals are: To inspire and entertain people through excellent. diverse and innovalive work across all art fomis. To involve the whole community, especially young people, in a wide range of participatory activities. To learn about and develop our relationship with our existing and potential audiences. To collaborate with arts and non-arts organisations in developing a vibrant arts infrastructure in the comrnunity. To actively support the development of new work. To be an ambitious but sustainable organisation. As reported last year, we have taken over the management of the Corn Exchange building through our agreement with Dorchester Town Council. This arrangement continues to work well and both sides are happy that it is achieving its aim of making the building operate more efficiently and effectively for the benefit of the whole community- Regular meetings continue to be held to monitor progress towards the outcomes laid out in the Partnership Agreement. As well as our own very busy programme, we have had new regular hirers start using the building this year and it is heavily booked for one-off events, ranging from meetings and award ceremonies to weddings and parties. In addition, we have slarted to see the clear benefits ofthe Town Council's improvements to the building's infrastructure- redU￿d utility bills as a result of the biomass heating system, solar panels and improved .'Iisulation- improved access lo toilet facilities: and office space. dre¢.-ing rooms and storage that meets our needs and those of our hirers and visiting artists. This bodes extremely well for the fulure. Once the major work to reconfigure and improve the front of house area in the building are complete, our home venue will finally provide the county town with an arts hub that it has needed and deserved for so long. The refurbished Hardye Theatre has continued to provide another welcome improvement lo Ihe arts infrastructure of the town and wider county. Not only is il allowing us to bring bigger acts to the town, but this is also translating into box office gross receipts in excess of £10000 for single Shows. a level that would have been impossible without this facility being in place. We continue to programme work into olher indoor and outdoor venues throughout the year. including St Mary's Church. Maumbury Rings. Athelhampton House and the Gransden Hall at Sherbome Girl's School. We continued to present a varied programme of professional arts perfomiances in a variety of venues. both indoors and outdoors. from new and local performers to well-known names. Highlights included a weekend residency by the monks of Ihe Tashi Lhunpo Monastery, and performances by Lucy Parham and Sir Simon Russell Beale, A Taste Of Ireland, Andreas Scholl. Mad Dog Mcrea and many others. The projection equipment installed as part of the renovalion continues to provide an excellent platform for showing films and documentaries, presented both by Dorchester Arts and other local societies such as the Film Society and Bayeux Society. Our community engagement programme in both Dorchester and Sherbome has continued to flourish under the guidance of our Community Engagement Manager. Of particular significance was the success of the Rise programme. providing art therapy for mothers living with post-natal depression and anxiety. Not only has the uptake been exceptionally high. but the feedback from both Ihe participants and related health care organizations has been very positive, showing clearly the need and demand for and effectiveness of such activities. We are however finding that the funding for the whole creative health programme is becoming harder to find. Although we have succeeded in finding piecemeal funding for several programmes, there is no doubt that a better approach would be to seek funding for the programme as a whole, and this will be an objective in the coming year. DORCHESTER ARTS TRUSTEES, REPORT {INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 Financial review The accompanying audited accounts show that the financial performance of Dorchester Arts during 23124 was strong with the generation of an operational surplus of £21,891, compared with a deficit of £14,642 for the previous year. This reflected both an increase the majority of our income streams during the year coupled with good cost control. Whilst the increase in ticket sales in particular reflected some additional confidence in the market. agile and adaptable management and programming together with a determined staff effort to reverse the previous year's trend contributed significantly to this result. Box office receipts at £199K were 90/0 higher than the previous year but perfomiance and direct ticketing costs were very similar resulling in an increase of £17.5K to £32.1K in Ihe performance programme surplus. The Corn Exchange, The Hardye Theatre and our regular subsidiary venues all contributed to this result. It was achieved despite a very difficult Quarter 2 with its disappointing weather, which disrupted outdoor events, and emphasizes the importance of filling venues and maximizing ticket sales which in turn supports our wider work in the ommunity. DA received a total of£64.8K in grant support from our two sponsoring bodies, namely Dorset Council (£34.8K) and Dorchester Town Council (£30KI and is immensely grateful for this level of assistance. It should be noted that despite Dc's very difficult financial situation the new 3-year award which became effective from 1 April 2024 is for £20K pa which is very generous under the cu￿ent circumstances. Donations and Gifts rose to £50.8K although within this total figure income from membership sales and fundraising events both slipped back slightly. It was. however, boosled by both the full-year effect of the increased level of the Future Fund Levy together with an unexpected anonymous donation of £10K to which Gift Aid could be added. The income arising from room hire within the Corn Exchange continued lo increase and in 23124 was in excess of £43K. The division of revenue be￿een regular hires and one-off bookings was 360/0.. 644/0 and it now represents a very significant income stream for the organization. It is anticipated that the '241'25 improvements to the building and the facilities available to users will further enhance the attractiveness of the venue and thus the revenue earning potential. Income from the DAsubsidiary company, DorchesterArts Trading Ltd. was £15K which was a significant increase over the £10K generated in the previous year. The majority of this surplus arose from operating the bar in the Corn Exchange. It is anticipated that DAT will be a significant beneficiary from the improvements to the building as they include a redesigned bar and lounge area which it is hoped will encourage increased footfall and therefore spend as well as providing the Company with the opportunity to widen its ()ffering to users. The overall Administration and Fundraising costs associated with the Unrestricted funds at £367.4K was very similar to the previous year's total of £366.1 K. There were, however, significant movements within these totals some of which relate to the performance, venue and direct ticketing costs referred to above. Slaff costs rose by £10.5K to £141.6K principally reflecting an across-the-board salary increase of 7.54/0. This award has brought our salary structure more into line with those currently being paid by similar organizations in this sector. This salary total is subject lo a reduction of £7.5K being a contribution from the Unrestricted Designated Fund li.e. re the Maltings Project) to offset a portion of management time devoted to the redesign and refurbishment of the front of the Corn Exchange and associated infrastructure works. The charge for depreciation has risen from below £1 K to £4.4K and this is the result of an increase in expenditure on capilal items, primarily in The Corn Exchange as we continue to make improvements to the facilities there. DA'S process in respect of capital purchases is detailed under para 1.6 of the Accounting Policies bul in essence items are written off over a four year period on a straight line basis. In total printing, advertising and stationery rose by £3.5K to £18.3K which reflected both rising production and distribution costs associated with the programme brochure and flyers but also additional sums associated with our increased social media activity- DORCHESTER ARTS TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 At £32.3K Property Costs (including repairs and maintenance) was £14K lower than the previous year. Some headings within this group did increase and, for the first time, a charge for Local Authority Rates was recorded. However, a significant proportion of the fall in the overall total related to a drop in the charge for electricity at Ihe Corn Exchange. Each ofthe individual improvements that were introduced by DTC as part of the original refurbishment project were designed to improve the building's light and heal efficiency with the solar panels now contributing io Ihis mix. Further benefit comes from the way these elements act as an integrated system, something that the organization can continue to develop and exploit as it become more experienced in running the building. The majority of the reduclion in 23124 Property Costs reflected the fact Ihal the corresponding figure for the previous year included one-off design fees for the front of building upgrade as well as design and installation costs linked to the improved stage lighting system together with some associated equipment. In addition to the operational surplus two further amounts, tolaling £12089, were transferred inlo our General Unrestricted Fund. The first was £4923 being the remaining balance on the funds originally received from the termination of the Maltings project, after accounting for the charge for management time referred to above. In line with the Board's decision lo allocate these towards infrastructure projects this amount was used to fund a series of capital purchases within the Corn Exchange (storage and kitchen units, photocopier and external fixed banners). The remaining £7166 was transferred from our restricted reserves and this follows a review of the various individual balances that made up the overall total. This showed that there were a number of balan￿$ reflecting unused amounts from past projects which were not going to be repeated in the foreseeable future. These redundant balan￿s, less the write off of a project debt, totalled £7.2K, with the biggest of these by a significant margin relating lo the 2022 Mars project. In all cases the figures represented sums raised by donation, primarily from DA members and supporters. Any amounts received either a5 a grant or specific sponsorship will have been fully spent on the relevant project at the time. After this adjustment the closing Restricted Reserve figure stands at £38,967 and this has been fully reconciled with the individual balances of all our current projects as at 31 March 2024. As a result of these movements the balance on our Unrestricted Reserves Account at the year-end stood at £97.577. This is a record high for the organisation and is comfortably above the Charity Commission's minimum recommended level. More importantly it places the organisation in a strong position not only to cope wilh the inevitable financial disruption caused by the refurbishment of the front of the Corn Exchange during '24f25 but also to be able to fully exploit the opportunities that these works are designed to facilitate. In doing so Dorchester Arts can continue to cl.eliver its ambitious wellbeing pmgramme and range of first class enlertainment and educational events fui'.the benefil of the whole community- Thus, whilst acknowledging tFiat we operale within a challenging environment, both socially, financially and commercially the Board views the fijture with confidence and posilivity. Structure, governan¢• and management . GOING CONCERN The trustees have considered the financial position of the charity, both during the period and as a result of the current economic climate and have assessed both financial and operational risk. They are of the opinion that the charity has sufficient financial resources to continue lo operate as a going concern for the foreseeable future. Accordingly. the trustees continue lo adopt the going concern basis in the preparation of the financial statements. For further information please refer to the financial review section of the trust6e's report. b. RESERVES POLICY The Trustees, policy regarding reserves is to aim to mainlain sufficient funds lo ensure runriing of the organisalion for at least 3 months. This policy is normally based on the total of last yeals non programme expenditure. Although the general free reserves have decreased in the year due to the exceptional fadors indicated above. this target continues lo be met. The trustees are aware that the reserves policy needs to be monitored closely moving forward. ¢. CONSTITUTION The company is registered as a charitable company limited by guarantee and was set up by Articles of Association. The company is constituted under Articles ofAssociation. The company registered number is 2752793 and the charity registered number is 1015546. DORCHESTER ARTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2024 d. METHOD OF APPOINTMENT OR ELECTION OF TRUSTEES Trustees are elected annually at the AGM but casual vacancies may be filled during the year subject to formal election at the AGM. Trustees, who are also directors for the purpose of company law, and who served during Ihe year and up to the date of the signature on the financial statemenls were.. P Srnith P Treadwell J Veale A Eigeland H Trevorrow L Sheaves A Constable M Willdridge S Veale A Wakeman H Hutchinson T Frere (Resigned 20 January 2024) (Resigned 20 January 2024) (Resigned 20 January 20241 (Appointed 20 January 2024) (Appointed 20 January 2024) {Appointed 8 August 2023) (Appointed 20 August 2024) The tr report was approved by the Board of Trustees. S Veale Trustee Dated: 1£: /1: Y DORCHESTER ARTS INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF DORCHESTER ARTS I report to the trustees on my examination of the financial statements of Dorchester Arts (the charity) for th8 year ended 31 March 2024. Responsibilities and basis of report As Ihe trustees of the charity land also its directors for the purposes of company law} you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act). Having satisfied myself that the financial statements of the charity 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 the charity's financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5)Ibl of the 2011 Act. Independent examiner's statement Since the charity's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Acl. I confirm that l am qualified lo undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. 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 thal in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act., or the financial ststements do not accord with those records- or the financial statemenls do not cornply 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 the financial statements 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 the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 11J2}. I have no concerns and have come across no other matters in connection with the examination to which atte n should be drawn in this report in order to enable a proper understanding of the financial statements lo che Pete Cattermole FCA CB Reid Limited Wadebridge House 16 Wadebridge Square Poundbury Dorchester Dorset DT13AQ Dated.. (D (TJ O) Q (D OP￿0 ¢0 ¢yI Jna