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2023-12-31-accounts

Oxted & Limpsfield Barn Theatre Company Limited

ANNUAL REPORT AND FINANCIAL STATEMENTS for the year 1[st ] January – 31[st] December 2023

NOTICE IS HEREBY GIVEN

That the ANNUAL GENERAL MEETING of the Company

Will be held at

THE BARN THEATRE, BLUEHOUSE LANE, OXTED, SURREY

22[nd] MAY 2024 AT 8pm

For the transaction of the following business

  1. To receive the accounts of the Company and the Report of the Directors

  2. To elect Directors

  3. To confirm the appointment of the Independent Examiner

  4. Any other business

BY ORDER OF THE BOARD

29[th] APRIL 2024

REGISTERED OFFICE 15A HIGH STREET, WESTERHAM, KENT, TN16 1RA

A member entitled to vote may appoint a proxy to attend and vote in his/her place, but such proxy must be a member of the Company

A copy of the full set of accounts and Report of the Directors is attached to this notice of meeting.

Company Registration No: 00190597 Registered Charity No: 1064318

Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS AND OFFICERS

DIRECTORS OF THE COMPANY AND TRUSTEES OF THE CHARITY

B C Reed Chairman H Clarke (appointed 9 May 23) J Clark J Clarke (appointed 9 May 23) J Kempton A M Le Croissette E McGirr (appointed 9 May 23) M Lister P J Littleford M O Lloyd P Robinson C Rowley M C Sutton J Vinall

HONORARY TREASURER

M H Fisher FCMA

CHARITY REGISTRATION NUMBER

1064318 Registered 27 May 1997

COMPANY REGISTRATION NUMBER

190597 (England and Wales)

REGISTERED OFFICE

THEATRE

15a High Street Westerham Kent TN16 1RA

The Barn Theatre Bluehouse Lane Oxted Surrey RH8 0AA

INDEPENDENT EXAMINER

BANKERS

D R Steele FCA 25 Detillens Lane Limpsfield Surrey RH8 0DH

NatWest Bank Sevenoaks Branch 67 High Street Sevenoaks Kent TN13 1LA

Page 1

Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS’ AND TRUSTEES’ REPORT AND REVIEW

The directors and trustees submit their report and the financial statements of the Oxted & Limpsfield Barn Theatre Company Limited for the year ended 31 December 2023.

PRINCIPAL ACTIVITIES

The company is a registered charity, its object being to advance education in, promote and encourage the theatrical performing arts within Oxted and Limpsfield at the Barn Theatre, Bluehouse Lane, Oxted, Surrey for the benefit of the general public. The directors and trustees have had regard to the guidance issued by the Charity Commission on public benefit.

REVIEW OF THE BUSINESS AND FUTURE DEVELOPMENTS

A profit has been added to reserves this year. A review of the activities is included in the Chairman’s Report.

FINANCIAL RESULTS

The profit for the year was £53,156 (General Fund £1,078, Barn 100 restricted fund 52,078) and is set out on page 8 and 13.

DIRECTORS AND TRUSTEES AND THEIR INTERESTS

The directors and trustees are appointed by board resolution. Such appointment being confirmed by the members at the following AGM.

The following directors and trustees have held office s during 2023. Their interests in the shares of the company were as follows: -

No. of meetings attended No. of meetings attended Ordinary shares Ordinary shares
out of possible no of 7. of £1 each
31.12.23 01.01.23
B C Reed 7 102 102
J Clark 6 10 10
H Clarke (appointed 9 May 23) 5 6 -
J Clarke (appointed 9 May 23) 5 6 -
J Kempton 7 10 10
A M Le Croissette 6 10 10
E McGirr (appointed 9 May 23) 3 6 -
M Lister 7 45 45
P J Littleford 6 15 15
M O Lloyd 6 60 60
P Robinson 6 50 50
C Rowley 7 50 50
M C Sutton 6 20 20
J Vinall 6 10 10

Page 2

Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS’ AND TRUSTEES’ REPORT AND REVIEW CONTINUED

GOVERNING INSTRUMENT

The charitable company is constituted according to the revised Memorandum and Articles of Association dated 27 May 1997.

ORGANISATIONAL STRUCTURE

The company is run and managed by up to 15 directors who are also trustees of the charity. All volunteers, they are chosen from a wide band of theatre users and have individual and collective strengths and responsibilities for the day to day affairs of the company. Appointment is only by invitation of the Board and is confirmed by the members at the AGM following appointment.

RESERVE POLICY

The general fund represents the theatre's normal activity of hiring to local groups and, over the long term, the trustees aim to balance income with expenditure.

RISK POLICY

The trustees do not consider that there are material risks associated with its activities other than normal trading risks.

INDEPENDENT EXAMINER

A resolution to confirm the appointment of David Steele, Independent Examiner will be put to the members at the annual general meeting.

DECLARATIONS

The company has taken advantage of the small companies’ exemption in preparing the report above.

The trustees declare that they have approved the trustees report (including directors’ report) above.

By order of the board

B C REED Chairman 29[th] April 2024

Oxted & Limpsfield Barn Theatre Company Limited

Page 3

CHAIRMAN’S REPORT

Dear Shareholders

The year 2023 started with a multitude of shows that kept us much busier than we were in the last year or two, continued to be a challenge of a different sort to the preceding two years. Normality returned very quickly and shows came and went thick and fast. This has continued through the year with hiring and production income for the year rising to £148,601 compared with £108,840 and this excludes any donations. We have no prime space and very little weekend space to offer potential hirers for 2024 and 2025 and the booking diary is open through to 2028.

The annual accounts herewith show a positive financial position, albeit blighted by the increases in energy costs, which we have tried to absorb where possible rather than pass the whole burden to hirers at this time. In 2022 we had agreed a 3 year fixed term deal with EDF and that has stabilised costs enormously with energy costs at double rather than higher figures quoted to us and rejected.

Despite our busy diary and increase in income there is no room for complacency. The external challenges which are cause for concern to all theatres, large and small following the Coronavirus pandemic and subsequent recession, are still facing us daily. The impact this has had on social activities is huge and we still do not see a return of all our elderly customers or the volunteers who we rely on so much. Our structure and finances may be strong, but we will need to be flexible and responsive to whatever the future brings.

As you know, constant review by the Directors initiated the start of work on Barn100 on February 1st, much earlier than anticipated and this early start has saved many thousands of pounds, due to soaring costs.

From day one on site local builders S.M. Atkins Ltd made impressive daily progress through to completion of their contract, on budget and on time. Congratulations to Steve Atkins and his team.

To facilitate completion of the works and in the absence of regular continuing external donations, the Directors compared the cost of a £50,000 bank loan against expected rise in costs of materials and opted for a bank loan. In hindsight, a sensible route to follow when compared with expected hiring income and the loan was repaid by the end of 2023.

The accounts under review here include the £32,000 donation from the FOBs and recently at their AGM Paul presented the theatre with a further generous £10,000 donation for Barn100, which will show in next year’s accounts. Receiving this further unexpected donation was somewhat overwhelming and I must reiterate our grateful thanks for such a huge surprise.

In general, we regard Barn100 complete, two years earlier than anticipated, which is a splendid result and many good compliments from our customers.

In late May we are celebrating our Centenary and festivities commence with a Gala Dinner at Coltsford Mill, Oxted on Tuesday 21[st] May followed by two weeks of entertainment and events. Please do study your copy of the next What’s On and book up what you can.

For the future we are looking at becoming Net Zero but there is a long road ahead on this before Zero will be achieved.

Our project for immediate future is to renew the seats in the auditorium, which are looking rather jaded after 30 years, despite replacement parts and repairs. With other associated works of new carpets this project looks to be an outlay of £120,000 including Vat. A very large amount to be raised. We shall soon be looking at fundraising and doubtless part of this will be buy a seat campaign, which will give you all a chance to help the project along. Finance is an issue but finding time where the auditorium can be decommissioned will be a difficult task also.

Page 4

The new Barn100 front

The FOB’s continue to look after the bar and Front of House in their normal exemplary style, under the leadership of Director, Paul Robinson. Paul has continued with a redesign of behind the bar and other new initiatives and equipment, all to the benefit of our customers and is delighted with the new larger bar store created as part of the Barn100 works.

The FOBs are the lifeblood of the theatre and are always looking for new members to help populate the Front of House team. If you have any spare time, please do think about joining them and getting more closely involved, in what is after all, your theatre. Talk to Paul Robinson by telephone 07970 847515 or by email fobs.chairman@barntheatreoxted.co.uk

I cannot close without thanking my fellow Directors. I always enjoy working with the team and would like to thank them for their consistent and ever continuing support again during this busy year. They have been there whenever they were needed. I have said before that their contribution to the life of the Barn is completely undervalued, there is little or no recognition of their achievements but believe me, there would be no Barn Theatre without their enduring support and tireless work.

My even smaller team at the office in Westerham; Martin & Lindy ensure that the day-to-day affairs of the theatre are dealt with efficiently, despite me and I must thank them for their loyalty and support.

These pages form part of the annual accounts for 2023 and we look forward to seeing you at our forthcoming AGM on Wednesday 22[nd] May at 8pm followed by refreshment in the bar afterwards.

Kind Regards

Bruce Reed

Page 5

Oxted & Limpsfield Barn Theatre Company Limited DIRECTORS’ AND TRUSTEES’ RESPONSIBILITIES IN THE PREPARATION OF FINANCIAL STATEMENTS

Company law and Charity law requires directors and 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 profit or loss of the company for that period. In preparing those financial statements, directors are required to:

The directors are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the requirements of the Companies Act and are in accordance with the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice (FRS 102). They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 6

Oxted & Limpsfield Barn Theatre Company Limited INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE OXTED & LIMPSFIELD BARN THEATRE CO LIMITED

_______________

I report on the accounts of the company for the year ended 31st December 2023, which are set out on pages 8 - 13.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's report

My examination was carried out in accordance with the general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a 'true and fair view' and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no material matters have come to my attention which give me cause to believe that in, any material respect:

I 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.

David Steele FCA 25 Detillens Lane Limpsfield Oxted Surrey RH8 0DH

Date: 30[th] April 2024

Oxted & Limpsfield Barn Theatre Company Limited

Page 7

STATEMENT OF FINANCIAL ACTIVITIES (including Income and Expenditure Account) for the year ended 31 December 2023

Notes Total Total
2023 2022
INCOME AND EXPENDITURE £ £
Incoming Resources:
Theatre hire 86,174 80,092
Barn Productions - General 49,412 12,600
Barn 100 13,015 16,148
Advertising 1,050 1,000
Donations - General 2,540 1,468
Barn 100 52,784 50,519
Government Grant Barn 100 - 50,000
Interest received on bank deposit - 114
Insurance claim 946 -
_ _
Total incoming resources 205,921 211,941
_ _
Resources expended
Costs of Generating Funds – Fundraising & publicity
Advertising & direct mail 7,027 5,217
Production expenditure - General 19,699 7,196
Barn 100 10,712 10,266
_ _
37,438 22,679
_ _
Charitable Expenditure – Theatre running & donations
Rates 503 1,068
Repairs & Maintenance 15,538 12,174
Electrical & Audio 215 1,252
Light, Heat & Water 35,206 16,875
Cleaning, Refuse & Gardening 11,457 7,797
Depreciation 3 27,190 27,482
Donations 10,126 -
_ _
100,235 66,648
_ _
Management and administration of the charity
Insurance 6,242 7,065
Licences 1,607 1,431
Stationery, Software, Telephone and Sundry 4,062 5,063
Legal & Professional Fees 13 13
Bank Charges 159 200
Loan Interest - Barn 100 3,009 507
_ _
15,092 14,279
_ _
Total resources expended 152,765 103,606
_ _
Net Incoming resources: 53,156 108,335
Balances b/f at 1 January 2023 10 852,923 744,588
_ _
Balances c/f at 31 December 2023 10 906,079 852,923
====== ======
The net incoming resources arise from the Company’s continuing operations.
The notes on pages 11 to 13 form part of these accounts

Oxted & Limpsfield Barn Theatre Company Limited

BALANCE SHEET 31 December 2023

Page 8

Notes Total Total
2023 2022
£ £
FIXED ASSETS
Tangible Assets 3 873,615 850,924
__ __
CURRENT ASSETS
Stocks 4 60 60
Debtors 5 3,556 1,608
Cash at Bank and in hand 6 57,375 67,784
__ __
60,991 69.452
CREDITORS
Amounts falling due within one year 7 (18,265) (9,189)
__ __
NET CURRENT ASSETS 42,726 60,263
__ __
TOTAL ASSETS less current liabilities 916,341 911,187
Bank Loan - (48,022)
8 __ __
NET ASSETS 916,341 863,165
======= =======
CAPITAL AND RESERVES
Share Capital 9 10,262 10,242
General 10 906,079 640,032
Restricted fund - Barn 100 10 - 212,891
_ __
916,341 863,165
======= =======

For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

These accounts have been prepared in accordance with the provisions applicable to small companies subject to the small companies regime and in accordance with FRS102 SORP.

Approved by the Board of Directors on 29[th] April 2024 and signed on its behalf by:

………………………………………………..

B C Reed, Chairman of Directors and Trustees The notes on pages 11 to 13 form part of these accounts.

Oxted & Limpsfield Barn Theatre Company Limited ACCOUNTING POLICIES

BASIS OF ACCOUNTING

Page 9

The financial statements have been prepared under the historical cost convention as modified to include the revaluation of freehold properties and in accordance with the Companies Act 2006 and comply with relevant policies as required under the Statement of Recommended Practice for Charities (FRS 102). The Charity constitutes a public benefit entity as defined by FRS 102.

INCOMING RESOURCES

Incoming Resources represent theatre hire, Barn productions, advertising, donations and grants received and is included when the company becomes entitled to the resources.

STOCK

Stock is valued at the lower of cost and net realisable value.

DEPRECIATION

The freehold land and buildings were revalued in 1999. Other fixed assets are stated at historical cost.

Depreciation has been provided on the building at 2% on a straight line basis on cost or valuation and on all fixtures and equipment at 25% on a reducing balance basis calculated to write each asset down to its estimate residual value over its expected useful life.

INVESTMENTS

There are no investments held by the charity other than cash deposits held at the bank.

FUNDS

There are no restrictions on the use of the General fund apart from the furtherance of the charitable aims of the Company.

RESOURCES EXPENDED

Resources expended are recognised in the period in which they are incurred.

Page 10

Oxted & Limpsfield Barn Theatre Company Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

1. INCOMING RESOURCES

The charities turnover was derived from its principal activity, undertaken in the United Kingdom.

2. REMUNERATION

During the year the directors/trustees did not receive any remuneration or reimbursement of expenses from the company (2022 £Nil).

3. TANGIBLE FIXED ASSETS

Freehold General Barn Cool Total
Land & Furniture & Furniture &
Buildings Equipment Equipment
£ £ £ £
Cost or Valuation
1 January 2023 1,005,837 203,308 84,209 1,293,354
Additions in the year 47,483 2,398 - 49,881
__ __ __ _
31 December 2023 1,053,320 205,706 84,209 1,343,235
__ __ __ _
Depreciation
1 January 2023 177,009 182,337 83,084 442,430
Charged in the year 21,067 5,842 281 27,190
__ __ __ _
31 December 2023 198,076 188,179 83,365 469,620
__ __ __ _
Net book value:
31 December 2023 855,244 17,527 844 873,615
======= ======= ======= ======
31 December 2022 828,828 20,971 1,125 850,924
======= ======= ======= ======

The Freehold land and buildings were valued at 31 December 1999 by Ibbett Mosely, Chartered Surveyors on an existing use open market basis, in accordance with the Statement of Assets Valuation Practice No 4 and the guidance notes of the Royal Institution of Chartered Surveyors at £200,000.

On an historical cost basis land and buildings would have been included at:

2023 2022
£ £
Historic cost 1999 6,228 6,228
Green Room extension 249,787 249,787
Drip extension 272,052 272,052
Barn 100 331,481 283,998
_ _
859,548 812,065
Depreciation 198,076 177,009
_ _
Net Book Value 661,472 635,056
====== ======

Oxted & Lim field Barn Theatre Com n Limited ps pa y

Page 11

NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

4. STOCK 2023 2022
£ £
Merchandise held for sale at cost 60 60
======= =======
5. DEBTORS
£ £
Due within one year
Trade Debtors 350 700
Prepayments 989 908
Other 2,217 -
__ __
3,556 1,608
======= =======
6. CASH AT BANK
£ £
Bank current accounts 57,375 67,784
======= =======
7. CREDITORS: Amounts falling due within one year
£ £
Trade Creditors - -
Accruals and deferred income 18,265 9,189
__ __
18,265 9,189
======= =======

8. BANK LOAN

To assist with Barn 100 project the company entered into an agreement with NatWest Bank for a £50,000 loan on a four year repayment term floating at 6.25% over base rate. This was paid off early over 15 months on 23 December 2023.

9. SHARE CAPITAL

SHARE CAPITAL
£ £
Authorised:
12,000 ordinary shares of £1 each 12,000 12,000
======= =======
Allotted, issued and fully paid:
1 January 2023 10,242 10,242
Issue of shares 20 -
__ __
31 December 2023 10,262 10,242
======= =======

Page 12

Oxted & Limpsfield Barn Theatre Company Limited NOTES TO THE FINANCIAL STATEMENTS for the year ended 31 December 2023

10. RECONCILIATION OF MOVEMENT IN FUNDS

General Restricted Total
2023 2023 2023
£ £ £
1 January 2023 640,032 212,891 852,923
Incoming resources 1,078 52,078 53,156
Transfer 264,969 (264,969) -
_ _ _
31 December 2023 906,079 - 906,079
====== ====== ======

No restrictions are placed on the general fund apart from the furtherance of the charitable aims of the company. The total cost of Barn 100 was £331,481 which is within budget. A total of £264,969 restricted fund income was received which means £66,512 of general fund was expended on the project which is within the Directors authorisation of £70,000.

The General Fund is split between

The General Fund is split between
General Revaluation Total
Reserve Reserve
£ £ £
1 January 2023 446,260 193,772 640,032
Net incoming resources for the financial year 1,078 - 1,078
Transfer 264,969 - 264,969
__ __ __
31 December 2023 712,307 193,772 906,079
======= ======= =======
11. CAPITAL COMMITTMENT 2023 2022
£ £
Authorised but not committed at year end
Nil 25,954
======= =======

12. TAXATION

The Company has been accepted as a charity for tax purposes and is therefore exempt from tax on its income and gains.

13. RELATED PARTY TRANSACTIONS

There were no Related Party Transactions during the year (2022 nil).

Page 13

Oxted & Limpsfield Barn Theatre Company Limited SOURCES AND APPLICATION OF FUNDS STATEMENT for the year ended 31 December 2023

Total Total
2023 2022
Net Incoming Resources 53,156 108,335
Add Depreciation 27,190 27,482
_ _
Funds Generated 80,346 135,817
Capital Expenditure (49,881) (285,126)
Movement in Working Capital 7,128 2,170
Issue of shares 20 -
_ _
Cashflow in year 37,613 (147,139)
Cash balance b/f 1 Jan 2023 19,762 166,901
_ _
Cash balance c/f 31 Dec 2023 57,375 19,762
====== ======
M H Fisher
29thApril 2024

Page 14