REGISTERED COhlPANY NUMBER: 03342581 (England and Wale5)
REGISTERED CHARITY NUMBER: 1067869
Re
rt of the Trustees and
Consolidated Financial Statements
for the Year Ended 31 March 2024
for
The Court rd Trust

The Court ard Trust
Contents of the Financial Statements
for the Year Ended 31 March 2024
Page
Reference and Admlnlstrative Detalts
Report of the Trustees
Report of the Independent Auditors
9 to 11
Consolidated staternent of Flnancial *£tivitie5
12
Consolidated and Charity Balance Sheet
13
Consolidated Cash Flow Statement
14
Notes to the Consolidated Cash Flow Statement
15
Notes to the Financial Statements
16 to 33

The Court rd Trust
Reference and Administrative Details
for the Year Ended 31 htsrch 2024
TRUSTEES
Mr B Freeman (Chair}
Mr S Liddle eike Chalr)
Ms A Palfrey
Aliss S Allen (resigned 31st October 2023)
Alr M Baker
Als L J Hall
Als M Cooper {appointed 3rd April 20231
Alrs E L Forrest laptM)inted 3rd Aprfi 2023)
rd
ts L Gale (appointed 3 April 20231
ts J Hayes (appointed 3rd April 2023)
l•& P N Stevens (appointed 3rd April 20231
COIAPANY SECREfARY
Mr l Archer
REGisfERED OFFICE
The Courtyard
Edgar Street
Hereford
Hereford5hire
HR4 9JR
REGISTERED COMPANY NUMBER
03342581 {Engiand and Wales)
REGISTERED CHARrrY NUMBER
1067869
AUD￿oRs
Thome Wldgery Accountanq Ltd
Chartered AcccAJntants
Statutory Auditors
2 Wyevale Business Pa
Kings Acre
Hereford
Herefordshire
HR4 7BS
SOLicrroRS
Gabb5
14 Broad Street
Hereford
HR4 9AP
BANKERS
LLoyds Bank pic
1 Gwent Square
Cwmbran
NP44 1XN
Page 1

The Court rd Trust
ort of the Trustees
for the Year Ended 31 March 2024
The trLStees who are also directors of the charity for the PLTpo￿ of the Ccrfnpanie5 Act 21))6, present their report with
the finandal statements of the charity and the grcAJP for the year ended 31 hlarch 2024. The trustees have adopted the
provisions of Accounting and Reporting by Charities: Statement of Recommended Practlce applicable to charities
preparing their accounts in accordance with the Fina￿la1 ReP￿fing Standard appllcable fn the UK and Republic of
Ireland {FRS 1021 (effective 1 January 20191.
OBJEC'fNES AND ACTivrriES
ives and alms
The charltable company was fom*d to Pr(￿te the Imwovement and development of artistic taste and the knowledge,
understanding and appreciation of arts of cultural and educational value (including the art of dance. drama, literature.
muslc <ind singing) of the public and in particular the residents of the County of Herefordshire.
The charity has the general aim of contributing to the qLo1ity of life of the people of Herefordshlre and wider area by
expanding their horizons through the provision of exciting, challenging and accesslble professional and community arts
events.
The main objectives for the year continue to be the promotitM and fostering of artistic knowledge and the appreclation
of the arts by the provision of facilities for the education and entertainment of the public in the fields of art. craft,
music and drarna.
Through the charity's 5trate¥ic objectives, policies arKI strategies. we secure the future deveLopn￿nt of artlstic and
tJJtreaLh and education activitles throughout the C￿nty of Herefordshire. Our busine55 plan. whlch is endorsed by Art5
Council England clearly defines our short-. medium, and long-term objectives. Thfis is reported to Arts Council England
in an Annual Report which clearly Shov￿ the success of our objective5 throughout the year.
hlain a<tivities undertaken to f urther the charit
ses for the
blic benefit:
Concert5 and stage perforrnances
The coiicerts and stage perforniances presented OTr the stage of The Courtyard combine professional events, including
classical plays and dramatic modern performances. V￿th amateur community events, tribute bands, origTnal bands,
comedians, dance, youth theatre etc. The programme contains an eclectic mix of the arts to suit a range of public
taste5, with the emphasis on maintainlng a popular programme vthich helps to maintain the viability of the theatre,
combin,ed with a programme to challenge the aUdIe￿e. Similarly. the musical programme ranges from classical
orchestras to wofe55ional jazz, popular music, and folk and *Y)rld music.
Participation
Our participation programme involve5 local schools and hlgher education colleges in a range of expressive arts. They
aim to develop students. confidence and expression across the range of arts including dance, drama and muslc. The
Courtyard v￿rkS with 98% of schoob in Herefordshire. The charity also runs a wbrant youth theatre proyramme both Tn
the venue and in the market towns including Bromyard, Ledbury and Ross. We also programme a variety of classes and
workshops for children of all ages to adult classes inclLKling Writin2 for Stage, Reading Room, Life Drawing and classes
for many genres of dance.
Art exhibitlons
The ch<irity has a number of ￿5}tIng art exhibition5 throughout the year. These offer an opportunity for the wblic to
view. free of charge, works of art from a wide Variety of mainly local artists. These exhibitions have a wide variety,
includfng stained glass. acryllcs, ceramics. photOBraphy and paintings. and range from traditional to more contemporary
v￿rk.
Fllm and Llve Screenlngs
The charlty has a Smaller studlo space which is used predomirkintly for the screening of films and Llve Screenings from
the National Theatre, Royal Opera House and Opera. The films shown range from Hollywc¥)d bl¢xkbu5ters to small
art house movies from both the UK arKI abroad. This area of work gives the public the thance to see a wide variety of
fllms which would not be shovm in more comercial cinemas.
Volunteers
The Trust is very Involved In the community and Is depeTKlent on voluntary help. Besides those amateur performers and
artlsts who display their talents at The Courtyard, volunteer5 are used for stewarding events and performances. The
charity has over 100 volunteers, and ￿thOut this voluntary help the charity would not be able to function. If the Trust
was to pay for all stewarding duties the cost for this alone would be in excess of £11XI.OIX> each year.
Public beneflt
The directors have paid di* regard to guidance ts5￿1 by the CharTty Commlssloners in decldlng what activitie5 the
organisation should undertake and to ensure that tfv provide pulAic benefit.
Page 2

The Court ard Trust
rt of the Trustees
for the Year Ended 31 March 2024
STRATEGIC REPORT
nificant charftable actfvlrf
2023124 was an exceptional year for The Courtyard ￿th ticket sales exceeding expectation5 and bLKlget. The
organi5ation remaln5 resilient through g￿)d business practice and15 SUPPOrted through a grant from Arts Council England
{2023-26} as one of its NatiiMal Portfolio Organisations. The C(￿rtyard align51ts objectives with Arts Council of England'5
Let's Create strategy for the financial year, where the ¢)bjectives and actions are reviewed.and monitored against ACE'S
'Lets Create Outcornes and Investment Principals.
As a 'centre for the arts, in Herefordshire our programme remains eclectic and our programme includes: live event5.
filrns, lfve screenings, w5ual arts and a partiapatory arts prograrnrne.
25th Anniversary Celebration: the 25th Anniversary Celebration was held on Saturday 23rd September 2023. The
Celebration showcased the work of all The CcrfJrtyard'5 U5er5 over the 25 years and people which ended WTth a post-
show party in the Café Bar. The Autumn wa5 a catalyst for our 25th Anniversary year. There wa5 also an
exhibition of The Courtyard through the year5.
The Courtyard produced and held producti¢Jns throughlxrt the 2023124 perfod without interruption and the programme
included commissioned. programmed and hired piece5. The vast quantity of work which The Courtyard offers, both on
and off stage, has supported its vision and was relevant to the community of Herefordshire and continue to be ambitious,
hlgh quality and incluslve.
Throughout the 2023124-year, audience numbers were excellent and the trend continued throughout the financial year.
The film programme has been a major part of The C{￿rtYard.5 programme and has seen the best audience numbers
since the record year of 2013 with over 4(KJ.CW visits to The Courtyard thrcwhout 2023124.
2023124 The Courtyard had completed the problem relating to the Curtain Walling. This had to be resolved through
major structural changes to the original design faults at a cost of £175,0(Kl. The Courtyard Trust ha5 had to pay this
from its reserves and remains in negotiation with Herefordshire Council about ariy potential 5UPPOrt The Courtyard may
expect from the council. The outcome wlll not be knov+m until late 2024.
Performances: HI hll hts from the 23124
Rhod Gllbert114- 15 May): thls was a very spedal performance, as we were the first venue Rhod had done since coming
out of hospital. Rhc*J was making a documentary for TV regarding his road to recovery and scenes from his performance
here will be featured in the documentary.
Orchestra of the Swan 130 hlay): OOTS perfomied in the Nell Gwynne Studio offering something different to the
programme and giving audiences something more intimate to enjoy. The concert fOrn￿d part of its residency.
The Mousetrap126 June - 1st Jull: the West End returned to The C￿rtyard with The Mousetrap. The production sold
out and a huge success.
Clive Anderson (6 July): the wtty and clever presenter performed his one-man Show all about h15 lrfe and career with
funny stories from the theatre world.
The Courtyard ￿nIOr Youth Theatre (19 - 22 July 21r23I, [￿wn to the Wtsjds: this production VRS aimed at early years
and children in nurserie5. It was an exciting opportunity to create and devise a production for young children and
engage with famllies that we don't usually reach.
Fascinating Aida16 Sept>: celebrating 40 years on the road in 2023, Dillie, Liza arKI Adèle, Britain's raciest and 5as5ie5t
musical cabaret trio, are bringing their brand-new strKiw to theatres across the UK. Fascinating Aida have racked-up
rnillions of internet followers, performed in the world's most prestigious venues and been showered with awards and
plaudits Sin￿ they sashayed onto the scene back in 1983.
The Courtyard's Pro-Am prodLKtlon (3 - 8 Oct): this year's Pro-Arn was The Secret Garden by Frances H￿l450n-￿rnett.
The Pro-Am 15 The Courtyard's flagship talent development project that brot4ht together our yi)uth theatre, members
of the community and professional actors.
Crown Ballet presented The Nutcracker and Swan Like 16 and 7 Nov): the ever-fjmpressfve Crown Ballet returned to
The Courtyard wbth their cast of Eastern European ballet dancers, many of whom were from Ukraine.
Dlrk Whlttfngton - Panto (Nov - Jan>- The Courtyard'5 highest achieving panto wa5 the much.loved and cla551C Story of
Dick Whittington. The panto saw the highest value of tickets sales and sold over 20,(M)O tickets. These sales were
achieved against 62 performance5 against the perviou5 year5 of 72 perfonnances and with a Week less in the run.
Page 3

The Court rd Tnjst
Re
of the Trustee5
for the Year Ended 31 hlarch 2024
Goldllocks: The Courtyard's Christmas Studlo pr(Kluction, Goldilocks. a150 was a bert-selllng productlon and achieve<l
our best ticket sales to date. The production, like panto, ran for a week less than prewous productions.
Tom Allen12nd Febl: perforn￿d at The Courtyard for the first tfme in hi5 own 0￿-man show.
Glovannl Pernice 2023112 Feb): Gfovanni, still on a hlgh after winning Strictly, retume(I with his latest dance
'show.
Mld Wal@5 Opera presente(l Hansel and Gretei {18 Marl: Tr perforrnance was aimed at encouraglng the younger
auithence to attend.
Llve Screenln85
The Courtyard's Live kreening programme is a an essential part" of our programme and we saw the main distrlbutors
return. We xreened perfomiances from the National Theatre, Royal Opera House, the hlet Opera and ExhTbition Screen.
Some of the up-and-coming titles include La Traviata, Straight Line Crazy, Nutcracker, Swan Lake. Leopold Stadt. Frida
Kahlo, Don Carlos, Rigoletto. Hamlet. Henry V, A Diarnond Celebration, Like Water for Chocolate and Romeo & Jullet
and Prima Facie.
Fllm kreenings
Film Season-. the film season is now fully retumed with a full pro¢ramme of film throughout the week Includ7ng breakfast
movies, matinee5 and evening screenings. 2023124 saw an extremely strong year both in audience numbers and
flnancTally.
Visual Art
The Courtyard maintained its work with visual artists and arts groups by ensuring a full Gallery programme was scheduled
for the year including:
Cultivote Exhibition: this was the sixth year that Cultivate has been running and four artists were again selected to take
part in this year's talent development project which enables young artists with a connectlon to Herefordshire to be
mentored through the process of coming up with a concept, making it and then exhibltlng the work. It is a very
rewarding project that has seen many artists further thelr skills and gain places at Goldsmith5, Southbank and Falmouth
University. Thls year we partnered with Close to support the young people they V￿rk with to upskill and glve
them something to alm for by exhibiting their work too. The exhibition ran for all of June and July 2023.
The Courtyard'5 25th Anniversory: the exhibition celebrated The Courtyard through the years with many of the photos
we have in our archives. from old production photograph5 to model boxes of past plays. The exhlbition sought to build
on our strong relationship with the community and audience members and they were encouraged to send us their own
phot05 that V￿re put on the exhibition boards.
Picture Makers Exhibition: The Courtyard hosted The Picture Maker5 collective for the first time in over flve years. The
group. who are based in west Wale5, create innovative work that is specifk to the venue they are exhibiting in. The
exhibition also had a very strong environmental remit.
Moppo Alarche5 by Helen Arthur: The Mappa Marche5 art exhibition brought together three artists and an aerial film
maker to celebrate our rural Herefordshire landscape.
Hereford College of Art - CA Winter Sh(Nw. Explore: A discovery of hlaterials and Environment. HCA'S level 2 Art and
Design Students and Level 3 Creat?ve Practise Students explored, experimented and discovered new materials and
wocesses, taking inspiration from the world around them frorn challenging concepts about how both natural materials
and traditional art materials can be adapted and manipulated to create sornething unexpected.
Retrospective Exhibition by Jone Thornhlll: a retrospective exhibiticrf) frnm artist Jane Thornhill. From her early work
in the 19605 through to present day. Jane speciali5ed Tn pcrtrait painting but has covered a wlde range of subjects.
This exhibition gave a sample of the broad range of her vffjrk from anatomy pencil studles, portraits in various ffledia,
to landscape and so on.
LEARNING PARTICIPATION AND OLrrREACH
The Learning. Particlpation and Outreach vrt)rk at The Courtyard C￿tInueS to thrlve and is an essential part of The
Courtyard. Highlight5 include:
The Junlor Youth Theatre have been worklng on indivlthal projects as they lTrJked at dlfferent Style5 of theatre and
work toward5 individual showcases. During the surnmer term some of the groups t{￿k part in the yearty Ignite Festival
and we held our first I￿pIred Festival for the early years. grt)UPS.
Page 4

The Court rd Tnjst
rt of the Trustees
for the Year Ended 31 March 2024
The Intermedlate Youth Theatre w￿rked towards The Insplred Festival which took place at The Courtyard.
emphasis was lookfng at Poor Theatre. mlnimalism and physical theatre. It was great opwjrtunity to see how far youth
theatre members had grown in their abilities.
The Senlor Youth Theatre worked on the summerproductlon. The emphasis of the production was around using digital
. work to look at 7ffiage. identity and.how s￿la1 media is now.a major part of young people's lives. Workshopped ideas
around the story of ￿￿lan Gray, rewlting in a perf0m￿nCe in July 21r24.
Cornmunlty Youth Theatres: the comrnunity Y￿ theatre5 have seen a hu￿ rtse in ￿bers, especially in Ross and
Ledbury, and we have added an extra class to Ross. Bromyard numbers are now also on the rise. In Ledbury throughiyjt
the first half of the autumn tenn the ￿ were contributing to the autumn workshops and parties. The Bromyard YT
started to grow in strength as numbers have slowly but surely returned. The Bromyard ￿ also perfornied as part of the
NT Connectlon5 Festival. Thts was very exciting and the flrst time a youth theatre from The Courtyard has done so.
Dandn2 Tots: this is ￿ very much a regular class as part of cvr early years provision. The weekly session gives parents
with young toddler5 the chance to enjoy dante and sociali*. We have seen a stea(ty increase of ThJmber5 With the
average number of attendees now into double figures.
Fllrn Club: we have combined l)oth junior and senior classes into one and this has had a genuinely positive impact on
the young people who attend as it has really helped having more indivlduais In the group to help in all areas of film
production.
TalkAwayDontWalkAway: we were successful in securing funding from the Eveson Trust for 23124. The project received
a small uplift to allow us to run workshop5 and training for teachers. This is a slight change to the project since feedback
indicated teachers needed more training when handling set 51tuatlOfls like listening and dealing with their pupil5'
anxieties. We worked with schools throughout the spring and sumrrer 5ea50n5 and the workshops culminated in a final
performance on The Courtyards main stage in hiay 2024.
Inclusive Project: thi5 project is now funded by Hereford City CowKil and the summer's sell-our Be a Star week was a
huge succe55
Hereford Academy: we c1)ntin￿l to r￿1 drama SV4sions at Hereford Academy, and we have been able to suptth the
school's production of We Will Rock.
Schools: our regular drama clubs have grown in Strength and each week we run clubs at the foll0v￿n9 schools: Brookfield,
Kingsland, hlordiford (first half of tennl, Staunton. St Thmias, Kington, Hereford Academy. Michaelchurch and Eari
Mortimer. We have also worked vrith Ivington. Holmer. hknrdiford, Staunton, Riverside and Ewyas Harold as part of our
Roald Dahl and Shakespeare Literacy projects
Garrick Singers: the Garrick Sfnqers had a very enjoyable term last year with professional singers going into the session
and even being able to perform in the foyer before events. The class Is take5 place on Mondays.
The Muse Café These sessions are unique, insofar as musidans come In and play for the members and encourage
conversations to help reduce isolation. Thi5 is run by Orchestra of the Swan in association with The Courtyard for
veterans living with dementia.
Piaylng Together: This year we have InC￿POrated singing and signing to encourage development in the toddlers. We
regularly have attendance in double figures consistent positive feedback.
Life Drawing: thi5 workshop 15 our most kwilar adult class. with nearly 20 members attending each week. This has
been helped by a nehT wave of enthuslastic lrfe m¢Jdels.
Readlng Room: the group focu5e5 on contemporary texts.
Writing Room Extra: thls new sesslon has been extremely popular and Is already full, after only a few weeks, with the
vthter5 working towards a showcase at the end of the summer 2Lfi4.
Writing Room: partldpants work alongside Lisle Turner to perfect thelr piaywrlting techniques.
Chance to Dance: The workshop continues to offer a service for older generations to take part in dance and movement
classes offering physical a5 well as mental benefits. Apart from Life Drawing, this is our m05t popular adult class.
Zumba continues to attract strong partlcipatlon numbers each v￿k with many of the participants cornmenting on the
benefits of the session for their physical and mental health.
Page 5

The Court rd Trust
Re rt of the Trustees
for the Year Ended 31 IIArch 2024
Twfnkllng Stars has been well received with positive feedback and weil attended sessions on Saturday ￿M)rning$. The
sessions are based around family dance for 2 - and rnn for 45 mins.
Actlng Clrcle: this is a new cla55 for 23124, aimed at adults. The ernphasis is very much on learning new skllb through
drama like devising, improv, mask work and other technlques
Play v￿rks". this is a new class aimed at adults wanting to get involved Sn theatre. The session5 centre on looklng at a
particular play, reading. analysing it and then perfom)ing it.
Veteran5 Cho5r: the Veterans Choir, run in collaboration with ENCORE. takes place on Wednesday morning¥ and is well
supported by the Veterans Community, who enjoy quality time. socialising and singing. The class is a proven way of
beating isolation and for many of the fonrw sernce men and women it is a chance to bulld friendships and gain a sense
of wellbein8.
Family Festfval: The Courtyard'5 annual Family Festival toc* place (m Wednesday 1st November 2023 and was a huge
succe55. Over 1000 people took part on the day enjoying W0￿shops. actlvltie5, events and performances, both drama
and music related.
Fundraisln
In the current economfc, fundraising has becorne very challenglng, with many Trusts and Foundations reducing the level
of funding available. Trust and Foundation Income is re5tsicted arKI 15 used for the benefit of the people of Herefordshlre
to experience the arts in many ways.
We are sUPPOrted through our Friends and Patrons and thr(wh our individual gimng campaigns. We have also conducted
event5 thrwghout the year to increase our fundraTsing income including shows by The Hey Yahs, abseiling and skydiving
events.
Our Christmas Appeal 2023: this was a successful campaign held throughout our Christmas Pantomlme & Studio
productlons and raFsed over £10k plus Gift Aid.
Flnanclal revlew
The Group's net Incoming resources for the year ended 315t March 2024 amounted to £n.520 (2023: £88,668 outgoing).
Total income for the year amounted to £3,637.989 12023: £3,021.2101. Further information can be found in the
Statement of Financial Activities on page 12 of these financial statements.
Princi
al risk arKI uncertainties
The Courtyard is mainly self-fTnancing, having I￿t its fvThJing from the Herefordshire Council from April 2016. The
Courtyard Trust is funded by Arts Council England by the sum of C216k per year and thls funding has now been secured
until 31st March 2026. In a normal year this funding represents 7% of our total income. The Courtyard is a resilient
organisation, which adapts to the needs of the community and programmes for the population of Herefordshire and the
surrounding countie5.
Princi
al fundln
rces
Funding from the Arts Council has been confirmed for 2025126.
Investment policy and objective5
Under the Memorandum and Articles of Association, the TrLSt has the power to invest surplus funds in any way that the
directors see flt. The directors, hav5ng regard to the liquldity requireTh￿nts of the theatre, have operated a polky of
keeping any available fvrKls in an interest bearing deFM)Sit account.
Total group reseThes balance at 31st March 2024 is £1,5n,986 {2023: £1,51X1,4661, £610,221 12023: £521,384I of
this being unrestricted, £74,574 designated 12023: £Nil} and £888.191 12023: £979,083) of restricted. This is broadly in
line with the Reserve5 Policy agreed in AprS12009. The ba515 of thfs policy was to build up unrestrlcted rese￿eS to a
level sufficient to cover the salaries of contracted staff for three months, and the remaining obllgations under a lease.
For 2024 this would be equal to £347.325 {2023: £320,4661.
Included on the consolidated balance sheet at the year*nd are tangible ffixed assets of £1,856,934 {2023: £1,773,714)
and investments of £Nil 12023: £Nill.
Consolidated free reserves at the year end, being totsl reserves less any restricted fund and flxed and investment asset
held. amounted to £283,265 I2￿3. £253.392). This excludes £74,574 {2023: Nil) that has been rlng fenced for
maintenance.
Page 6

The Court rd Trust
Re rt of the Trustees
for the Year Ended 31 hlarch 2024
STRATEGIC REPORT contlnued
Goin
concern
To the best of ability and knowledge, the Trustees can confirm with confidence that The Courtyard Trust and Trnding
Company will still be trading 12 months through to September 2024 and beyond. We are confident that, through effertfjve.
. and timely management and strong govemance, the organisation will continue its path of resilience.
Financial and risk mana
Rlsk mana
ment
The management committee ha5 cor)duct"ed its own review of the major risks to whKh the charity 15 exposed and systems
have been established to mltlgate those rt5ks. These procedures are periodically reviewed to ensure that they still meet
.the needs of the charitable company and group. Particular attention was focussed on non-financial risks arising from
fire, health and safety of artists and audience, management of perfonning rights, and focAJ hygiene.
ves and licies
Future
The Trust will continue with its aims and objectives for the coming financlal year. The Directors are contlnulng to revlew
the current business structure and are exploring new opiM)rtunities.
STRucfuRE GOVERNANCE AND MANAGEMEKr
Governin
document
The Courtyard Trust is a private company limited by guarantee govemed by its Article5 of Assoclatlon adopted by speclal
resolution dated 5th March 2014. It is registered as a charity with the Charity Commission.
Recrultment and a
intment of new trustees
Recommendations for new appoinlments are made by either the current threctors or by the Chief Executive. Any new
appointment will then be approved by the Board of Directors.
nlsatlonal structure
The Board of Trustees, which can have a minfmum of five and a maximwi of eleven members, administers the
charity. The Board meets at every three months wfth sub-committees meeting no less than every two months and cover
matters relating to finance and human resources. A Ch￿f Executive is appointed by the trustee5 to manage the day-to-
day operations of the charity. To facilitate effertive operatiiJn5. the Chief Executive had delegated authority, within
tern)s of delegation approved by the trustee5, for the operational matters including finance, employment and artistic
performance.
Induction and trainin
of new trustees
New trustees meet with the Chairrnan and the Chief Executive to be briefed on the background of the Charity, its
history, its objectives and its current actiwties. They are also briefed on their role and their re5ponsibilitie5 in relation
to the Charity. All new trustees receive an induction pack containing the Ilanorandum and Articles of Association, the
latest report and accounts, and the current business plan.
mana
ment remuneratlon
Pay and remvr￿ration5 for key management are set by the Board of the Tntst. Salary levels are reviewed by the Board
on an annual basis and any pay award5 are set in line with inflation and the Tn￿ts financial position.
Subsldla
Undertakfn
The Courtyard Trust owns 1 tK)% of the 155ued share capital of its sthidiary undertaking. The Courtyard Trading Co.
Limited, which 15 re4i5tered in England and located at The Courtyard, Edgar Street, Hereford, HR4 9JR. The principal
activity of The Courtyard Trading Co. Limited is the running of the bar and restaurant facilities at The Courtyard. A
summary of the trading results can be fO￿d in the notes to the corwlidated financial statements.
Audited financial statements of The Courtyard Trading Co. Limited Icompany registered wmber 03350147} have been
flle(1 wlth the Reglstrar of Companies.
Related
rtles
Transactions Mth related parties can be f(wnd In the notes In the accounts.
Page 7

The Court ard Trust
rt of the Trustee5
for the Year Ended 31 March 2024
STATEMENT OF TRUSTEES. RESPONSIBILMES
The trustees (who are also the directors of The Courtyard Trust for the purposes of company lawl are responsible for
preparing the Report of the Trustees and the financial statements in accordance with applicable law and United Kingdom
Acccrtjnting Standards {United Kingdtyn Generally Accepted Accounting Practice).
. Coffoany law requlres the trustees to prepare financial Statements for each financial year which give a true and fair
view of the state of affairs.of the charitable C(￿panY and group and of the incoming resource5 and application of
resources. including the income and expenditure. of the tharltable company ènd group for that period. In preparing
those financial statements, the trustees are required to
select suitable acc￿ntIng policies and then apply them con5iStently"
observe the methods and principles in the Charity SORP;
make judgements and estimates that are reasonable and prudent.
prepare the financial statements on the going C(￿cern basis unles5 it is inappropriate to presume that the charitable
company and group will continue in business.
The trustees are resp(￿sible for keeping proper accounting rec￿d$ whKh disclose with reasonable accuracy at aTry time
the financial p0s7tion of the charitable company and groLP and to enable them to ensure that the financial Statements
comply ￿￿th the Companies Act 2fX)6. They are also re¥)Dnsible for Safeguarding the assets of the charitable company
and group and hence for taking reasonable steps the prevention and detection of fraud and other irregularfties.
In so far as the trustees are aware:
there is no relevant audit information of which the charitable company and group's aLMJitors are
unaware. and
the trustee5 have taken all steps that ttw ought to have taken to make them5elve5 aware of any relevant audit
information and to establish that the auditors are aware of that information.
AUDrroRS
The auditor5, Thorne Widgery Accountancy Ltd, will be proposed for re-appointment at the forthcoming Annual General
hleeting.
Report of the trustees, Incorporating a strategic repwti approved by the order of the ly)ard of trustee5, as the company
directors, on ......
IioLI*....-...--...-...----.
and signed on the board's behalf by:
Free
rust
Page 8

Re
rt of the Inde
The Court rd Trust
ndent Auditors to the Trustee5 of
Oplnlon
We have aLrdited the financial statements of The Courtyard (the 'charitable company and group. I for the year
ended 31 l•arch 2024 which comprise the Statement of Financial Activities, the Balance Sheet, the Cash Flow Statement
and notes to the financial statements, including a summary of significant acctyJntin£ policies. The financial reporting
framework that has been applied in their preparation 15 applicable law and United Kingdom Accounting Standards
(United Kingdom Generally Accepted Accounting Practice).
In our opinion the.financial statements:
give a true and fair view of the state of the charitable company and group's affalrs as at 31 'March 2024 and of its
incoming resources and application of resources. including its incorne and experKYiture, for the year then ended.
have been property prepared in accordance with Unlted Kingdom Generally Accepted Accounting Practice. and
have been prepared in accordance with the requirements of the Companies Act I1￿.
Basis for oplnlon
We conducted our audit in accordance wfth Intematiorkil Standards ￿ Auditing (UK) (ISAS IUK)} and applicable law. Our
responsibilities under those standards are further described in the Auditors. responsibilities for the audit of the financial
statements section of wr report. We are independent of the charitable company and group in accordance with the
ethical requlrements that are relevant to cdjr audit of the financial statements in the UK, including the FRC'S Ethical
Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe
that the audit ewderKe we have obtained is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatlng to qolng concern
In auditing the financial statements, we have concluded that the tn￿tee5 Use of the going concern basis of accountlng
in the preparatlon of the flnancial statements is appropriate.
Based on the work we have perforn)ed. we have not identified any material uncertainties relating to events or conditions
that, individually or collectively, may cast significant doubt on the parent charitable company and group's ability to
continue as a going concern for a period of at least twelve months from when the financial statements are authorised
for issue.
l)Jr responsibilities and the responsibilities of the trustees with respett to going concern are described in the relevant
sections of this report.
Other Informatlon
The trustees are reSp[￿SIble for the other inforniatlon. The other infonnatkn comprises the information Included in the
Annual Report, other than the financial statements and our RetM)rt of the Independent Auditors thereon.
Our opiniM on the financial statements does not cover the other inforn)ation and, except to the extent otherwise
explicitly stated in our report. we do not express any f(m of assurance Conclusion thereon.
In connection with our aLKlit of the financial Statements, our responsibility is to read the other infomation and, Tn doing
so, consider whether the other information is materially inconsistent with the financial statements or our knowledge
obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencle5 or
apparent material mi55tatements, we are required to deterniine whether this gives rise to a material mi55tatement In
the financial 5tatement5 themselves. If, ￿Sed on the work have perfomed. we conclude that there is a material
misstatement of thi5 Other infonnation, we are requlred to rewrt that fact. We have nothing to report in this regard.
Page 9

Re ort of the Inde endent Audltors to the Trustees of
The Court ard Trust
Matter5 on whlch we are requlred to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Report5) Regulatlons
I￿8 requires us to report to you if, in our opini￿-
the informatlon given in the Report of. the Trustees is inconsistent in any material respect with the flnancial
statements" or
the charitable c¢Thpany arKI group has not kept ade(wate accounting records; or
the flnancial statements are not in agreement with the accounting records and retums; or
we have not received all the Tnfonnation and explanaticffis we require for our audit.
Responsibilltles of trurtees
As explained more fully In the Statement of Tntstees. Res￿57b111t1e$, the trustees (who are also the directors of the
charitable company for the purposes of company Law) are respon51ble for the preparation of the financial statements
and for being satisfled that they give a true and fair view, and for such internal control as the trustees determine is
necessary to enable the preparation of financial statements that are free fr(m material misstatement, whether due to
fraud ¢)r error.
In preparfng the financial statements. the tn￿tee5 a￿ responsible f(Y assessing the charitable company and group's
ablllty to continL* as a going concern. disclosing, as applicable. matters related to going concern and using the going
concern basis of accounting unless the trustees either intend to liquidate the charitable company and group or to cease
operati¢y)s, or have no realistic alternative but to do so.
Our responslbllftfes for the audft of the f5nandal statements
We have been appointed as auditors under Sect70n 144 of the Charities Act 2011 and report in accordance ￿th the Act
and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable aswrance about vthether the financial statements a5 a whole are free from
material misstatement, whether due to fraud or error. and to issue a Report of the Independent Auditors that includes
our opinion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted Tn
accordance with ISAS {UK} will always detect a material misstatement when it exists. Misstatements can arise from
fraud or error and are considered material If, indivldually or in the aggregate. they could reasonably be expected to
influence the economic decisions of users taken on the basis of these financial statements.
Irregularities. including fraud. are instances of rK>n-cc#npliance with lavts and regulations. We design prc(edures in Ilne
with our responsibilities, outlined above, to detect material misstatements in respect of irregularlties, including fraud.
The extent to which our procedures are capable of detecting irregularities. including fraud is detailed below:
Fraud and breaches of laws and regulatlons - ability to detect
Identifying and responding to risks of material misstatement due to fraud
To identify risks of material misstatement due to fraud {Yraud risk5-) we as*ssed events or conditions that could
indicate an incentive or pressure to commit fra￿j or provide an opportunity to commit fraud. Our risk assessment
procedures included:
o Enqulring of trustee5, the finance committee and inspectfon of policy dc(umentation as to the Charit￿5 high-level
pollc7e5 and procedure5 to prevent and detect fraud a5 V￿1[ as whether they have knowledge of any actual. suspected
or alleged fraud.
o Reading Trustees. meetings and finance cornmittee minutes.
o Considering perfom)ance targets for rnar￿gement.
We communicated identified fraud risks throughoLrt the audit tearn and remained alert to any indications of fraud
throughout the audit.
As required by auditing standards, and taking into account our overall knowledge of the control envlronment, we
perfom procedures to address the risk of management override of controls, in particular the risk that management may
be in a pos7tion to make inappropriate accounting entries. On th15 audit we do not believe there 15 a fraud risk related
to revenue recognition because the revenue is nOn-]￿taL and straightforward, with limited opportunity for
rnanlpulation.
We did not identify any addltional fraud risks. We perf1)rn￿d wocedures including identifylng journal entries to test
based on rlsk criteria and comparing the identified entries to 5UPPOrting docurrEntatTon. These included those posted
by fSnance managementl those posted and appmed by the same userl those posted to unusual account5.
Page 10

Re
rt of the Inde
The Court rd Trust
Thjent Auditors to the Trustees of
Identlfyln8 and respondlng to rlsks of materfal mlsrtatement due to non<ornpllance wlth laws and regulatlons
We identified areas of lav+S and regulations that could reasonably be expected to have a materfal effect on the financial
statements from our general commercial and sector experience. and through discussion with management las required
by auditing standards) and discussed with management the polKies and prixedures regardlng compliance with laws and
regulations.
We communicated Identffled laws and regulati¢Jns thr(yJghout team arKI remained alert to any Indlcations of non-
compliance throughout the audit.
The potential effect of these iavts and regulations on the financial statements varies c(￿7derabLy.
Firstly, the Charity and group are subjert to laws and regulatlons that directly affect the financial statements including
financial reporting legislation. taxation legislation and the Charities Act legislation and we assessed the extent of
compliance with these law5 and regulatims as part of Iwr procedures on the related financial staternent Items.
Secondly, the Charity and gr￿P are subject to many other laws and re4ulations Whe￿ the consequences of
noncompliance could have a material effect on amounts or disclosures in the financial statements, for instance through
the imp05itTon of fines or litigation or the loss of the Charity and group's license to operate. We identified the following
areas as those m05t likely to have such an effert: health and safety. anti-bribery, employment law, data protection,
anti-money laundering and specific areas of other legislation recogni￿ng the nature of Charity and groups activities.
Auditlng standards Ilmlt the required audit procedures to Identify non-compLiance with these la¥v5 and regulation5 to
enquiry of management. inspection of regulatory and legal c0rreSwnden￿, rf any. Therefore. if a breach of operatlonal
regulations is not disclosed to us or evident from relevant correwndence, an audit will not detect that breach.
Context of the ability of the audit to dete(t fraud or breaches of law or regulation
Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material
misstatements in the financial statements. even though we have properly planned and performed our audit in
accordance with auditing standards. For example, the further removed non-compliance with laws and regulations is
from the events and transactions refiected in the financial statements, the less likely the inherently limited pr￿edureS
required by auditing standards would identtfy It.
In addition, as with any audit, there remalned a hlgher rlsk of non￿eCtIOn of fraud, as these may involve collusion,
forgery, intentlonal om15$1ons. misrepresentations, or the override of internal controls. Our audit procedures are
designed to detect material mis5tatemenC. We are not responsible for preventing non-compliance or fraud and cannot
be expected to detect Mn-Complia￿e with all laws and regulations.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting
Council's website at www.frc.org.uklauditor5re5ponsibilities. This description form5 part of our Report of the
Independent Auditors.
Use of our report
This rep)rt is made solely to the charitable companl5 trustees. as a tKxty. In accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2CK)8. Our audit work has been undertaken so that we might State to the charitable
companys trustees those matters we are required to state to.thern in an auditors. report ènd for no other purpose. To
the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable
company and eroup arKJ the charitable company's trustees as a body. for our audit work. for this report, or for the
opinions we have forrned.
Thome Widgery Acco
Chartered Accountant
Statutory Auditors
Eligible to art a5 an auditor In tenn5 of Sectien 1212 of the Companies Act 2006
2 Wyevale Business Park
Klng5 Acre
Hereford
Herefordshlre
HR4 7BS
tan
Ltd
Date:
Page 11

The Court ard Trust
Consolidated Statement of Financial Activities
for the Year Ended 31 March 2024
31.3.24
31.3.23
Unrestricted
fund
Restricted
funds
Total
funds
Total
funds
De518nated
Notes
INCOME AND ENI)OWMEIUS FROM
Donations and legacies
. 341,236
22,410
150,298
513,944
447.,667
Charitable activltles
Concert5, performances and
films
Education and outreach
1.877.486
42,775
1,877,486
42.775
1,602.23Z
29,637
The Courtyard Trading Co. Ltd
748,308
323,147
10,898
748,308
323,148
10.898
121.430
Other trading activities
Investment income
Other income
626,746
311.692
3,236
Total
3.398 516
150,298
3 637,989
3.021.210
EXPENDITURE ON
Raising funds
The Courtyard Trading Co. Ltd
43,803
644,104
43,803
644.104
38,101
599,478
Charitable artivities
Concerts, performances arKI
films
Art exhibitions
Education and outreach
2,406,861
31,540
237,307
14,601
117.609
11.570
38,095
2,539.071
43,110
275,402
2,167,139
27.780
257,557
Other
Total
3 383 594
14.601
167,274
3 565 469
3 109 878
NEf INCOMEI{EXPENDrruRE)
14,922
74.574
(16,976)
72,520
18B.668)
Transfer5 between funds
n.916
(73,9161
NEf MOVEME1￿ IN FUNDS
88,838
74,574
{90,892}
72.520
{88,668}
RECONCILIATION OF FUNDS
Total funds brought forward
521,383
979,083
1,5CIl,466
1,589,134
TOTAL FUNDS CARRIED
FORWARD
610 221
The notes form part of these flnancTal staternents
Page 12

The Court ard Trust
Charit
and Consolidated 8alance Sheet
31 March 2023
Grwp
Charity
31.3.24
31.3.23
31.3.24
31.3.23
Notes
FIXED ASSErs
Tangible assets
Investments
14
1,856,934
1,773,714
1,818,310
1,742,401
1.856.934
1.773.714
1,818,311
,742,402
CURRENT ASSErs
st￿ks
Debtors
Cash at bank and in hand
16
17
19,330
152.144
934,430
1,105,904
19,884
75.583
996.762
2.709
105.827
939.984
220.382
820.733
1,092,229
1,045,062
1,048,520
CREDrroRS
Amounts falling due w7thin one
year
18
(718.9(X))
1701.n9)
(651,690}
(650,197)
NEf CURRENT ASSErs
387,IJM
39),5(h)
393,372
398,323
TOTAL ASSEfs LESS CURREKr
LIABILITIES
2,243,938
2,164,214
2,211.683
2,140,n5
CRED￿oRs
Amounts falling due after more than one
year
19
1664,8731
{659,334)
{664,873)
1659,3341
PROVISIONS FOR LIABILrriES
Deferred tax
25
(6,079)
(4,414}
ASSErs
1,5TI,986
1.5(Kl.466
1,546,810
1,481,391
FUNDS
Unrestrfcted funds
Non-charitable trading funds
Designated funds
Restricted funds
584.045
26,176
74.574
888,191
1,572,986
502.308
19,075
658.619
502,308
979,083
1,500,466
888,191
1,546,810
979,083
1,481, 391
TOTAL FUNDS
The group and charitable company is entitled to exemption frorn audit urKler Section 477 of the Companies Act 2006
for the year ended 31 Alarch 2024. The members have rK)t deposited notice. pursuant to Section 476 of the Companies
Act 2006 requiring an audit of these financial statements.
The trustees acknowledge thelr responsibilities for
(a)
ensuring that the charitable company and group keeps accounting records that comply WTth Sectlons 386 and
387 of the Companies Act 2(X16 and
preparing financial statements which give a true and fair vTrew of the state of affalrs of the charltable company
and group a5 at the efKI of each financial year and of its surplus or deficit for each flnancial year in accordance
with the requirement5 of Section5 394 and 395 and which otherwise comply with the requirements of the
Companies Act 2(Ki6 relating to flnandal statÉThents. $0 far as applicable to the charitable company and group.
(b)
These financial statements have been audlted under the require1r￿ts of Section 145 of the Charities Art 2011.
The financial statements were approved by the Board of Trustees and authorised for on
ISlio.jt4-................
and were signed ￿ its behalf by:
notes fonn part of these financial statements
Page 13
Continued .

The Court ard Trust
Consolidated Cash Flow Statement
for the Year Ended 31 March 2024
31.3.24
31.3.23
Notes
Cash flows from operating actlvltles
Gish generated from operations
95.981
63.180
Net cash provided by operating activlties
63,180
Cash flows from Investlnq activlttes
Purchase of tangible fixed a55ets
Sale of tangible fixed assets
Interest received
(194,7931
1153,763}
10,898
3,236
Net cash used in Investing activities
183 8951
150 527)
Cash flows from finarbdng artfv6ties
Interest on Loan
Loan repayments
25.582
24,627
Net cash wovided by financing activities
25,582
24,627
Change In cash and cash equivalents in
the reportlng period
Cash and tash equivalents at the
be8lnnln8 of the reporting perl¢)d
{62,332}
162,720)
1,059,482
Cash and cash equlvalents at the end of
the reportlng perlod
996.762
The note5 fonn part of these financial statements
Page 14

The Court ard Trust
Notes to the Consolidated Cash Flow Statement
for the Year Ended 31 H￿rch 2024
RECONCILIATION OF NEf INCOAIE TO NEf CASH FLOW FROAI OPERATING AcnvmES
31.3.24
31.3.23
Net income for the reportkng perfod (as per the Statement of Flnancial
Actfvftles)
Adjustments for:
Depreciation charges
Gain/lLossl on disrrt)sai of fixed assets
Interest received
Increaselldecreasel in deferred tax
Increaselldecreasel in corporation tax
{I￿reaSe}/decrea5e in 5tock5
(Increase}Idecrease in debtors
Increaselldecr&ise) in creditors
72,520
(88,6681
111,518
55
(10,898)
1,665
106,776
{3.236)
(289)
554
176,5611
2,8721
14,6661
26.957
26,306
Net cash provlded by operatlons
95,981
63,180
ANALYSIS OF CHANGES IN NEf FUNDS
At 1.4.23
Cash flow
At 31.3.24
Net cash
Cash at bank and in hand
996 762
934.430
996,762
(62,332)
934,430
Debts falling due ￿thin 1 year
Debts falling due after 1 year
120,0431
(20,0431
659.334)
684.916
Total
337.428
87,914
249,514
The notes fonn part of these financial statements
Page 15

The Cou
ard Trust
Notes to the Consolidated Financial Statements
for the Year Ended 31 March 2024
ACCOVIrnNG POLICIES
Basts of preparlng the flnancial statements
The financial statements of the charitable company and group, which is a public benefit entity under FRS 102,
have been prepared in accordance with the Charities SORP IFRS 1021 'Accounting and Reporting by Charitie5:
Statement of Recommended Practice applicable to charltie5 preparing their accounts in accordance with the
Financial Reporting Standard appllcabie Tn the UK and Republic of Ireland IFRS 1021 (effective 1 January 20191..
Financial Reporting Standard 102 The Financial Rewrting Standard applicable in the UK and Republic of Ireland,
and the Companie5 Act 2(MJ6. The financial statements have been prepared under the historical cost ccffivention,
wlth the exception of investrents whlch are include(l at market value.
Group Flnancfal Statements
The results of The Courtyard Trust and Tts wholly owned subsidiary The Courtyard Trading Co. Ltd have been
consolldated and group accounts have been presented. All transaCti(￿S between the Charity and its subsidlary
have been eliminated on Cor￿017dat10rt. A separate statement of financial activities and Income and expendlture
account for the Charity Itself are not presented because the Charity has taken a<fvanta8e of the exemptions
afforded by Section 408 of the Companie5 Act 2(K16 and paragraph 397 of the SORP.
Going Concern
To the best of abTlity and knowledge, the T￿￿tee5 can Confi￿ with c￿}fIdence that The Courtyard Trust and
Trading Company will still be trading through to October 2025 and beyorKI. We are confident that, through
effective and timely management and strong govemance. the organisation wtll continue its path of resilience.
Glven the economic climate for the arts and theatre sector, there is uncertainty surrounding the generation of
future net income. However, the current year to date performance of the group is largely in line with budget
and the organisation is carefully monitoring costs.
Income
All income is recognised in the Staternent of Financial Activities once the charlty has entitlement to the funds,
It is probable that the income wlll be received and the am￿nt can be measured rellably.
Voluntary incc#ne comprises donations, grfts and grants that provide core fwKling or a￿ of general nature, and
are recognised where there is entitlement. certainty of receipt and the amount can be measured Vrfith sufficient
reliability. Grants received for specific purposes are accounted for as restricted funds. Grants are recognised in
the period to vthich they relate and when the conditions for receipt have been met.
Income from COMW￿r￿al tradFng activities is recognlsed as earned (as the related to goods and Services
prO￿ded).
Investment income is recognised on a receivable basi5.
Page 16
Continued..

The Court rd Trust
Notes to the Consolidated Financial Statements - cOntin￿d
for the Year Ended 31 March 2024
ACCOUNTING POLICIES - contlnued
Income
Incoming resources frcrfn charitable activities inclL¥Jes adTni5sion fees from theatrical Shows and films, which are .
recognised In the period In which the relevant performance i& held, and income received under contract or
where entitlement to grant funding Is subject to specific performance conditions and there is certainty of
recelpt.
Donated Goods
Donated professional services and donated facilities are recognised a5 income when the charity has control over
the Item, any conditions associated with the donated item have been r￿t, the receipt of economic benefit from
the use by the charity of the item is probable and that economic benefit can be measured reliably. In accordance
wlth the Charities SORP {FRS 102}.
Expendfture
Liabilities are recognised as expenditure as s(w)n as there is a legal or constructive obligation committing the
charity to that expenditure, Tt is probable that a transfer of economic benefits will be required in settlement
and the amount of the obligation can be meawred reliably. Expenditure ts accounted for on an accruals basis
and has been classified under headings that aggregate all cost related to the category. Where cost5 cannot be
directly attributed to particular headlngs they have been allocated to activities on a basls conslstent with the
use of re50urce5.
Raising Funds
Raising funds include5 all expendlture by the charity to raise fuThJs for its charitable purp)ses and includes costs
of all fundraising activitle5, events and non-charitable trading.
Charitable activities
Charitable activitie5 include expenditure a550ciated wth the staging of concerts. stage productlOD5. art
exhibitions and educational productions and include both the direct costs and the support cost5 relating to these
activitie5.
Allocatlon and appoffjonment of costs
Support cost5 include central functlons and have been allocated to activity Cost categories on a basis conststent
with the use of reS￿rceS.
Irrecoverable VAT
All resources expended are classified under activity headings that aggregate all costs related to the category.
Irrecoverable VAT is charged against the category of resources expended for which it was incurred.
Tanglble fixed assets
Indiwdual fixed assets costing more than £1,(KM) are capitalised at C05t. Tangible fixed assets are stated at cost
less depreciation, which is charged at a rate 50 as to vffjite off the cost of the asset, less its estimated residual
value, over its expected useful econcrfnk Ilfe a5 foilovrs:
Computers
Equipment and fixtures
Stage sets
Improvements to leasehold buildings
Motor vehicles
33 113% reducing balance
25% reducing balance
33 113% Straight Ilne
4% straight line
33 113% reducing balan
Stock
Stocks are valued at the lower of cost and net reallsabie value, after making due provision for obsolete and
slow nM)vfng Items.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretiffi of the trustees.
Restricted funds can only be used f￿ particular restricted purpose5 WtthTn the objects of the charity. Restrictions
arise vthen specified by the donor or when funds are raised for particular restricted Purposes.
Further expuination of the nature and purpose of each fund 15 Included in the nDte5 to the financial statements.
Page 17
Continued...

The Court ard Trust
Notes to the Consolidated Financ7al Statements - contin
for the Year Ended 31 hlarch 2024
ACCOUNTING POLICIES - contlnued
Debtor5
Trade and other debtors are recognised at the settlement amount due after any trade thscount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
Cash at bank and In hand
Cash at bank and cash in hand includes cash and short temi highly liquid investments with a short rnaturity of
three month5 or less from the date of acqui51tlon or openTng of the deposit or similar account.
.Credltors and provlslons
Creditors and provisions are reco4nised where the charity has a present obligatiC￿ resultlng from a past event
that VAII probably result in the transfer of fund5 to a third party and the amount due to settle the obllgation can
be measured or estimated reliably. Creditors and provisions are nornmlly recognised at their settlement amount
after allo￿n8 for any trade discounts due.
Finandal instruments
The trust ¢)nly has financial assets and financial liabilitles of a kind that qualify as basic flnancial instruments.
Basic financial instruments are initially recognised at trar￿aCtiOn 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.
Taxatfon
The charity is exempt from corporation tax on its charitable activities. In addition, there is a deed of covenant
in place which enables the Courtyard Trading Co. Limited to covenant its taxable profits to the Charity.
Deferred tax
Deferred taxation TS provided in fult in respect of taxation deferred by timing differences between the treatment
of certain items for taxation and accounting purposes. The deferred tax balance have not been discounted.
Hire purchase and leasing commltments
Rentals paid under operating leases are charges to the profit and loss account a5 incurred.
GRAKfs, DONATIONS AND LEGACIES
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted
funds
Restricted
funds
Grants and donations
363,646
150,298
513,944
447,667
£102,7fKI of donations and legacies in 2023 related to restricted funds and the remalnlng balarsce of £344.967
was unrestricted.
Page 18
Contlnued...

The Court ard Trust
Notes to the Consolidated Financial Staternents - continwl
for the Year Ended 31 March 2024
OTHER TRADk4G ACTIVMES
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted
funds
Restricted
Hfre of facllltks
Sundry income
Income via The Courtyard Trading Co. Ltd
147.013
176,134
147,013
176,134
748.308
151.￿5
160.087
626 746
1,071,455
1,071.455
938 438
All of the Income received in the Pri￿ year was unre5tritted.
INVESTMENT INCOME
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted
furKIs
Restricted
funds
Deposlt account Interest
10.898
All of the inve5trnent income arises fr(Kn an interest-bearing deposit account.
The income received in the prior year was unrestricted.
INCOME FROM CHARITABLE ACTivmES
31.3.24
31.3.23
Activity
Admission charges &
programmes
Performance Srants &
sponsorship
Education & outreach
Concerts, perfO￿anceS and films
1,844,608
1,567,126
Concerts. perfomiances and films
Education and outreach
32,878
42,775
35,106
29,637
1,920,261
1,631,869
The income received from charitable activities in 2023 relates to unrestricted funds. In the prior year all income
received from charitable activities relates to unrestricted funds.
RAISING FUNDS
31.3.24
Total
funds
31.3.23
Total
funds
Unrestricted
funds
Restricted
fund5
The Courtyard Trading Co. Limited
Support costs
644,102
644,102
599,478
38.101
687.rA)5
637 579
Page 19
Continued...

The Court ard Trust
Notes to the Consolidated Financial Statements - Continl￿d
for the Year Ended 31 March 2024
CHARrrABLE AcnvmES cosrs
Support
costs (see
note 81
Dlrect
Costs
Totals
Concerts, perfomiance5 and films
Art exhTb7tions
Educati(yn and outreach
2.162,443
37,720
268.663
376.628
5.390
6.739
2,539,071
43,110
275.402
388.757
2 857 583
SUPPORT COSTS
Info￿￿tiOn
technotoqy
Govemance
costs
Finar
Other
Totals
Raising donations and
legacies
Other resources expended
Concerts, performances
and films
Art exhibitions
Education and (Mjtreach
32,788
11.015
10,850
43,803
19,981
9,131
14.978
314
392
26.712
559
699
334.938
4.517
5,648
376,628
5,390
6.739
48.472
27.970
366,968
9,131
Included within general costs 15 irrecoverable VAT of E119,276 {2023: E99,936)
Support costs are allocated to activity cost categorle5 on a basis cMsistent with the ￿sOUrCe used.
INCOMEI(EXPENDITURE)
Net income/(expenditurel is stated after charglnq/lcrediting}:
31.3.24
31.3.23
Auditors. Remuneration
Depreciation - owned assets
Other operatlng leases
Surplusllloss)Deficlt on disposal of fixed assets
9.131
111,518
1,834
55
8,053
106,776
1,017
10.
TRUSTEES. REMUNERATION AND BENEFrrs
There were no tru5tees' remuneratfon or other benefits for the year ended 31 March 2024 nor for the year ended
31 hlarch 2023.
Trustees. expenses
Expenses of £Nil {2023: £NII) were reimbursed to O {2023: 01 tTUStee(5l during the year in line vAth the Trust's
expenditure policy.
Page ZO
Continued...

The Court ard Trust
Notes to the Consolldated Flnancial Statements - continued
for the Year Ended 31 March 2024
11.
STAFF COSTS
GROUP
31.3.24
31.3.23
Wages and salaries
Social security costs
Pension costs
Life assurance
1,263,685
93.285
31,028
1,303
1,164,144
88,184
28,263
1.389.301
1,281,863
CHARITY
31.3.24
31.3.23
Wage5 and salarie5
Soclal securlty costs
Pension costs
Life assurance
9￿,867
76.6(Kl
24,636
856.191
72,807
22,509
The charity and group operates a defined contribution pension scheme for employees, the assets for which are
held separately from those of the company. There were no unfunded pension costs at the balance Sheet date.
The avera¥e monthly number of employees during the year wa5 a5 follows-
31.3.24
31.3.23
Admlnistratlon
Education and outreach
Sales ar￿ marketing
Productions and shows
Trading wbsidiary
18
23
31
14
20
26
71
The number of ernployees whose employee benefits exceeded £60,CIXI was nil for the year ended 31 March 2024
nor for the year ended 31 March 20Z3.
Key management personnel
The key management personnel of the Trust comprise of the Chief Executive, Head of Finance. Commerclal
Manager, Associate Direttor, Head of Sales & Communications, Operations hlanager and Head Chef. The total
employee benefits of the key management personnel of the Trust were £277.897 12023: £257.305I.
Page 21
Contlnued...

The Court rd Trust
Notes to the Consolidated Financial Statements - continued
for the Year Ended 3111orch 2024
12.
COMPARATIVES FOR THE STATEMENf OF FINANCIAL AcnvmES
31.3.23
Total
funds
31.3.22
Total
funds
Unrestricted
fund
Restricted
funds
Notes
INCOME AND ENDOWAIENT5 FROM
Grants, dcffiations and Legades
344,967
11Y2,700
447,667
708,776
Charitable arttvltle5
Concerts, performances and films
Education and outreach
1,602.232
29.637
1,602,232
29,637
978,896
13,076
The Courtyard Trading Co. Limited
Other trading activities
Investment income
626.746
311,692
3.236
626.746
311.692
3,236
487,363
348,986
86
Total
2,918,510
102,7(10
3.021,210
2,537,183
EXPENDrruRE ON
Raising funds
The Courtyard Trading Co. Limited
38.101
599.478
38.101
599,478
65,119
475,919
Charitable activities
Concerts, performance5 and films
Art exhlbltions
Educatim and outreach
2,121.248
15.864
168,303
90,518
11,916
44,627
2,211,766
27,780
212,930
1,817,431
24,324
185,757
Other
19.823
101 314
Trtal
2,962.817
147,061
3,109,878
2,669,864
MEf INCOME{EXPENDrruRE)
144,307)
144.361 }
{88,6681
1132,6811
Transfers between fund5
Net lknement in Fund
132 681
RECONCILIATION OF FUNDS
RECONCILIATION OF FUNDS
Total funds brought forward
565,69)
1,023,444
1,589,134
1,T21,815
TOTAL FLINDS CARRIED FORWARD
521 383
CONTINUING OPERAnoNS
All income and expend?ture have arisen from continuing activities.
Page 22
Continued...

The Court rd Trust
Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 l•arch 2024
13.
AcfiviTIES OF THE TrADING SUBSIDIARY
The wholly owned tradlng sijbsldiary The Cwrtyard Trading Co. Limited Icompany Nmber 033501471, which is
Incorporated in the Unlted Kingdom. has transferred profits to The Courtyard Trust via gift aid. The Courtyard
Trading Co. Limited operates the bar, cafe and restaurant at the premises of The Courtyard Trust. The Charity
¢)wns the entire share capital of 1 ordinary share of £1. A summary of the trading results is shown below:
31.3.24
31.3.23
Tumover
Other operating income
Cost of sales
Selling and d1stributi￿ costs
Management charge
Administration costs
Deferred tax
Gift aid
Corporation tsx
768,017
672,546
(248,9331
13.1201
I46.8￿}
1390,3841
(1.665)
173,514)
1217,6101
13,8531
I46.8￿}
(377,3041
130,479)
Net profit retained in l {loss absorbed by) subsidiary
7,101
289
The assets and liabilit7es of the subsidiary ￿￿Te.
Fixed assets
Current assets
Current liabilities
Provision for liabilities and charges
38,624
143,455
1149,8231
6.079
31,313
87,035
194,8581
4,414
Gift aid of £73.514 {2023: E30.47911s payable fr(Th the trading company to the tntst.
Included within the above turnover ts sales to The Courtyard Trust for £23.209 {2023: £39,618) and Other income
of £Nil (2023: £Nill.
Page 23
Continued...

The Court rd Trust
Notes to the Consolidated Financial Statements - c(mtinued
for the Year Ended 31 March 2024
14. TANGIBLE FIXED ASSErs
Improves
to
leasehold
building
Assets
under
construction .
Fixtures
arKJ
flttlng5
CHARrrY
COST
At 1 April 2023
Additions
Disposals
Reclassification
1.574.969
145,288
119.921
557.788
30,468
12.716}
419,921
119 9211
At 31 March 2024
1,840,178
585,541
DEPRECIATION
At 1 April 2023
Charge for year
Elirninaied on disposal
139,978
68,039
399,098
27,967
12,661)
At 31 March 2024
208,017
424,404
NEf BOOK VALUE
At 31 Jl+larch 2024
1,647,312
161,137
At 31 hlarch 2023
1.434,991
119.921
158,690
Computer
equipment
Totals
COST
At 1 April 2023
Additions
Disposals
Reclassification
91,322
6,095
2,344,OCrf)
181,851
{2,7161
At 31 March 2024
97,417
2,523,136
DEPRECIATION
At 1 April 2023
Charge for year
Elimlnated on disposal
62.524
9,881
601,600
105,887
At 31 March 2024
NEf BOOK VALUE
At 31 March 2024
25,012
1 818 310
At 31 March 2023
1,742 401
Page 24
Continued...

The Court rd Trust
Notes to the Consolidated Financial Statements - contin￿1
for the Year Ended 31 March 2024
14.
TANGIBLE FIXED ASSEfs - continued
Improves
to
leasehold
building
Fixtures
and.
fittings
under
construction.
GROUP
COST
At 1 Aprll 2023
Additi(w
Disposals
Reclassification
1,592,251
145,288
119,921
627,713
43,410
{2,716)
119.921
(119,921)
At 31 March 2024
1,857,460
668,407
DEPRECIATION
At 1 April 2023
Charge for year
Eliminated on disposal
141,418
68,730
453,551
32,907
{2,6611
At 31 hlarch 2024
210,148
NEf BOOK VALUE
At 31 March 2024
1.632.161
184,610
At 31 hlArch 2023
1,450.833
119,921
174.161
Computer
equipment
Tola15
COST
At 1 April 2023
Additions
t)isposals
Reclassification
91.322
6.(fJ5
2.431.206
194.793
{2.716)
At 31 htsrch 2024
97,417
2,623,284
DEPRECIATION
At 1 Aprll 2023
Charge for year
Eliminated on disposal
62,524
9.881
657,493
111,518
At 31 IAarch 2024
766 350
NEf BOOK VALUE
At 31 March 2024
1 856 934
At 31 March 2023
28,798
1,773,714
Page 25
Continued.-

The Cwrt ard Trust
Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 March 2024
15.
FIXED Assrr INVESTMEirrs
Shares in
group
undertakings
CHARrri
MARKEf VALUE
At 1 April 2023 and 31 March 2024
NEf BOOK VALUE
At 31 l•arch 2024
At 31 hlarch 2023
The investment value in the charity's balance Sheet £1 (2023: £1) relates to the r￿TrInaL value of the Share held in its
Wh￿lY owned subsidiary the Courtyard Trading Co. Limited {Company number 03350147).
The charitable compan￿$ investments at the balance sheet date in tlE share capltal of companies include the
following:
The Courtyard Tradlng Co. Llmlted
Nature of busine55: Prowding Bar and Restaurant facilitie5
Company number: 03350147
Class of share:
Ordinary
holding
1CA)
31.3.24
31.3.23
Aggregate capltal and rese￿e$
Profit/lLossl for the year
26,177
19,076
289
16. STOCK
GROUP
31.3.24
31.3.23
Stock
19.330
19,884
17.
DEBTORS.. AMouTrrrs FALLING DUE wrrHIN ONE YEAR
31.3.24
31.3.23
CHARrrY
Trade debtors
Other debtors
Due from Subsidiary company
Prepayments and accrued income
32,864
4,125
73,514
27,306
11.493
37.908
220,382
105,827
GROUP
31.3.24
31.3.23
Trade debtors
Other debtors
Prepayment5 and accrued income
28,138
4,125
119.881
30,383
11,493
75.583
Page 26
Contlnued...

The Court rd Trust
Notes to the Consolidated Financial Statements - contin￿1
for the Year Ended 31 l•Lirch 2024
18.
CREDtTORS: AMouF¥fs FALLING DUE wrrHIN ONE YEAR
CHARrrY
31.3.24
31.3.23
.Other loans
Trade creditors
ScKial security and other taxes"
Other creditors
VAT
Accruals and deferred income
20.043
105.539
22,859
124,299
22.121
356 829
101,264
18.755
96,800
16,301
417,077
650,197
GROUP
31.3.24
31.3.23
Other loans
Trade creditors
Social security and other taxes
VAT
Other creditors
Accruals and deferred income
CorporatTon tax
20,043
123.009
28,328
114,050
26,309
42.280
86,290
432,800
127,971
369,089
718,900
Deferred incorne
Included in accruals and defe￿ed incornels deferred iKome of £335.143 (2022: £254,839) being monies received
for performances to be held In the subsequent accounting period.
CHARrrY
& GROUP
31.3.24
Deferred fncome at 1 April 2023
Resources deferred in the year
Amounts released fr(*n prewous year
336,383
276,297
(336,383}
276,297
19. CREDrroRS.. AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
CHARITY & GROUP
31.3.24
31.3.23
Other Ii)ans (see note 20)
664.873
659,334
659,334
Page 27
ContlnL*d...

The Court ard Trust
Notes to the Consolidated Financial Statements - c(mtinued
for the Year Ended 31 March 2024
20.
LOANS
CHARrrY & GROUP
An analy$15 of the maturity of loans is given bei(w:
31.3.24
31.3.23
Amounts falling due within one year demand:
Other loans
20,043
Amounts falling between one and two years:
Other loans - 1-2 year5
Amounts falling due bet￿￿n two arKI five year5:
Other loans - 2-5 years
Amounts falling due in MO￿ than flve years:
Repayable by instalments".
Other loans more 5yrs instal
544,617
639,599
No repayments are due until the year 2024125, interest is not payable until this date.
21.
OPERATING LEASE Comm￿MENTs
Minimum lease payments under non-cancellable operating leases fall due as follows."
31.3.24
31.3.23
Wlthln one year
Between one and five year
Over five years
7,199
The above leases are in relation to the charitable company.
22. ANALYSIS OF NEf ASSEfs BEfwEEN FUNDS - fAOUP
31.3.24
Total
funds
31.3.23
Total
fund5
Unrestricted
f￿d
Restricted
funds
Fixed assets
Current assets
Current liabilities
Long tenn liabilitfes
Provision of liabilities
326,956
1,062,775
(698,857
1.529,978
43,129
120.0431
{664,873)
1,856,934
1,105,904
(718.9IXI)
(664,873>
1,773.714
1,092,229
(701.729
1659,3341
684,795
888,191
1.572,986
1,5LKI.466
Page 28
ContTnued...

The Court ard Trust
Notes to the Consolidated Financial Statements - contIn￿d
for the Year Ended 31 March 2024
23. AIOVEMENT IN FUNDS
Net
Transfers
movement between
In funds
funds
At
31.3.24
At 1.4.23
Unrestricted Fund&
Unrestricted fund
Non-charitable trading subsidiary
Designated fund - Maintenance
502.308
19,075
.7.821
7,101
73.916
584,045
26,176
521,383
89,496
73,916
684,795
Re5trlcted flxed asset funds
Equipment
Kickstart
Develwment . funded by varlous sources
Development . funded by ACE
Garfield Weston - Culture Fund
Solar panels
Changing Places (funded by HCC)
Changing Places (funded by CIN)
New L)oor Ifunde(1 by Rowland5 Tru5t}
Equipment (funded by BFII
4,271
194,248
802,730
458,335
35,113
11,026
{1,0681
(10,761 }
(34.957
(20,[￿}
16,754)
11,090)
79,733
124)
4,271
11,961)
3,203
183,487
767.773
438,335
28,359
9,936
79,733
4,271
7,937
9,898
1,505,f23
7,389
16,988
1,530,11KI
Other restrlcted a55et funds
Education & outreach
Sylvia Short
D M Thoma5 Foundation
Visual Arts - Hereford City Council
Development - loan
Committed restricted fixed asset furKts
The Eimley Foundation
GM Morrison
Eveson Charitable Trust
The Alan and Dorothy Brailsford Charitable Trust
67,256
143,507)
(5,084)
120,810)
2,939
590
{590)
430
10.376
1684,9161
{611.(KK))
173.916)
5,475
3,5IXI
14.998
1177
5,475
3,5
19,410
{177}
4,412
1526,6401
124,3651
90,904
(641,909
TOTAL RESTRICTED FUNDS
979.083
{16.976
173.916
888.191
TOTAL FUNDS
1.5(X).466
1,572,986
Page 29
Continued.-

The C¢￿rt ard Trust
Notes to the Consolidated Financial Statements - contlnued
for the Year Ended 31 hlarch 2024
23. MOVEMENT IN FUNDS
Net movement In funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestricted funds
Unrestricted fund
Non-charitable tradlng subsidiary
Des18nated fund - hlaintenance
2,770,522
771,517
(2.762,7011
(764.4161
7,821
7,101
74.574
3,631,214
13,541,718)
89,496
Restricted fixed asset funds
Equiprnent
Kickstart
Development furKled by varfous sources
Development funded by ACE
Garfield Weston - Culture F￿xI
Solar Panels
Changlng Places {funded by HCCI
Changlng Place5 {funded by CIN)
New Door (funded by RowLands Trust)
Equipment (funded by BFII
(1,068)
110,761)
134,957)
120,000}
(6,754}
11,0901
12671
{241
17291
1.9611
11,068)
{10.761 }
{34,957}
{20,IM
{6.754}
{1.0901
79,733
{241
4,271
{1,961)
85,C(10
77.611
7,389
Other restricted asset funds
Education & outreach
Sylvia Short
Visual Arts - Hereford City Councll
Fllm Hub Mldlands
The Elmley Foundation
Beaumont Trust
Theatre Trust
HCF Promenade
The Elmley Foundation - Promenade
GM Morrison
Eveson Charitable Trust
The Alan and Dorothy Brailsford Charitable Trust
143,507)
{5.084)
111.570)
110,000)
(3,525}
(6,C(Q}
(5.IXOI
12,3CQI
12,5001
{43, 507}
15,084)
430
12,(X))
10,IX(I
5,475
2,3IXI
3.5(NJ
14,998
14,998
1771
11771
TOTAL REsfRICTED FUNDS
167 2741
16 976)
TOTAL RESTRICTED FUNDS
3,781.512
3 708 992)
16.976)
Page 30
Continued_.

The Court rd Trust
Notes to the Consolidated Financial Statements - continued
for the Year Ended 31 PAarch 2024
Cornparatives for movement in funds
Net
Transfers
movement between
in funds
funds
At
31.3.23
At 1.4.22
Unrestrlcted funds
Unrestricted fund
Non-charitable trading subsidiary
144,596)
289
502.308
19,075
565.690
144,307)
521,383
Restricted fixed asset funds
Equipment
Kickstart
DeVeL0pff￿t . funded by various sources
Development - funded by ACE
Garfield Weston - Culture Fund
Solar panels
5.695
205.492
837.753
478,332
43,953
{1.4241
(11,2441
(35,0231
(19,997
(8,840
11,026
4,271
194,248
802.730
458.335
35,113
11,026
1,571,225
165,502)
1,505,723
Other restricted asset funds
Education & outreach
Sylvia Short
D M Thomas Foundation
Visual Arts - Hereford City Council
Development . loan
Cornmitted restricted fixed a55et funds
Donations <£5,000
42.993
24,263
67,256
590
9.862
1611,CO)I
590
9,946
1611,000}
3,206
{3.2061
547.781
21,141
526,640}
TOTAL RESTRICTED FUNDS
979 083
TOTAL FUNDS
1,589,134
188,668)
1,5(K),466
Net movement in funds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
In furKJs
Unrestricted funds
Unrestricted fund
Non-charitable trading subsidiary
2.358.361
677.046
12.402.957)
1676.7571
(44.5961
289
3,035,407
(3,079,714)
{44,307
Restricted flxed asset funds
Equipment
Kickstart
Development funded by various sources
Development funded by ACE
Garfield Weston - Culture Fund
Solar Panels
11,424
{11,244}
{35.0231
{19,997)
(8,840)
(1,100)
11,4241
111.244)
135.023)
119,997)
{8,840)
11.026
12,126
Other restricted asset funds
Education & outreach
Sylvia Short
Visual Arts - Hereford City c￿ncIl
Donatlons <£5.(￿j
78,574
154,311)
24,263
12,(KiO
111,916)
3.206
1147,061
TOTAL FUNDS
3 138.107
Page 31
Continued...

The Court ard Trust
Notes to the Consolidated Financial Statements - contir￿d
for the Year Ended 31 March 2024
23.
MOVEMENT IN FUNDS - contlnued
The equipment fund is made up of capital grants re￿ived, to be spent on flxed assets.
Ail other funds relate to grants for speclfic projects, expenditure jrKU￿ed durin8 the year is shown above."
Educatlon and Outreach . funding towards this enables us to work WTth all age groups of children both able and
disabled helping to improve life and essential Skills. Wor*shops in schools help to empower pupils to deal with
menral health issues and we run courxs for Arts Awards activltfes. We are also able to wovide tea dances for
people living with Dementia, we provide practitioners to go into care h(rn and run activities for the resident5.
Famlly Festival . each year run a Family Festival where we run a full range of all types of activities for all
a8e5. Activities include drama, puppetry, dance, creatfve ￿￿￿kshopS and many more.
Sylvla Short - we receive funding tovnrds tran5P(rt costs for wpiis from schools to enable them to attend The
Courtyard and participate in drama v￿rks1￿ and performances and to attend live shows as well.
Church Street - provide us with supwt funding for (￿r Y(xrth Theatre prod￿tIOns, enabling them to experlence
appearing on the Main H￿se stage in an In House PrOd￿tiC
Visual Arts - provide us with funding to support and mentor ￿ and coming artists. who are selected via a
competition to produce worl( over a 12-month perlod which cthlnates In an Exhlbition of their work at the
Courtyard.
D M Thoma5 - provided us wth funding to Source and fit a hoist and changing bed, this will enable more children
with disabilities to attend The Courtyard and participate in some of Education and Outreach projects.
Development - We have received funding to expand The Courtyard to enable us to provide additional space for
courses and classes and performance space for our Youth Theatre and other I￿aL groups. We will also be
extending our Café Bar. the additional room that this will give ￿ will help to keep our sustainabillty for the
future, along with an improved retail area where we will be able to offer goods from local artists.
Ki¢k5tart- fundlng was awarded by ACE to those organisatlon5 that had already received Capital Funding, in our
case for the Development. The funding wa5 to be used to help cO￿d proof the building as well a5 fittlng out the
area5 altered by the Development.
Garfield Weston Culture Fund - funding was granted to allow us to restart i)ur Work both in the building and
digTtally and to make critical adaptions and improvements to our digital infrastructure.
24. RELATED PARTY DISCLOSURES
During the year, the Trust made purchases totalllng £18,252 12023". £23,492) and sales of £Nil 12023: £4.4551 to
the X-Entricity Theatre Company. Trustee S Liddle is a member of the X-Entricity Theatre Company. There were
no amounts outstanding at the balance sheet date £Nil {2023: £Nill-
During the year the Trust made purchases totalling £8Th) {2023: £2.7531 and sales of £622 12023: E1,123} to The
Hey Yahs. Trustee Steve Llddle is a member of the band. was £747 Including VAT owed to the Trust at the
balance sheet date12023: £Nil}.
Durlng the year the Trust made sales totalling £1,680 12023: £1,860) to The Hereford Academy in relation to
drama classes Trustee Bruce Freeman is Chair of Govemors at The Hereford Academy. There were no amounts
Lxrtstandlng at the balance Sheet date £Nill2￿2]. £Nill.
Durlng the year, the Group made sales totalling £1,5[￿ {2023: £1.4401 to Cotswold Mini in relation to advertlsTng.
Trustee S Liddle is Head of Sales at Cotswold Hereford. There were no amcMJnts outstanding at the balance sheet
date £Nil 12023: £Nil).
Page 32
Continued.-

The Court rd Trust
Notes to the Consolidated Financial Statements - cffitin￿1
for the Year Ended 31 Alarch 2024
25.
PROVISION FOR LIABILrriES AND CHARGES
Group
31.3.24
Charity
31.3.24
Group
31.3.23
Charlty
31.3.23
Deferred tax
6.079
6,079
4,414
In connection with accelerated capital allowance5, rnovement In the Jpar £1,665 (2023: £289).
26.
LIABILrrY OF THE hlEMBERS
Every member of the company undertakes to contribute an amount not exceeding £1 to the assets of the company
In the event of the company being wound up while helshe is a member. or within one year after he/she ceases
to be a member. This contribution is for the payment of the debts and liabilities of the company contracted
before helshe cease to be a member and of wirKling up the company.
Page 33