OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2023-03-31-accounts

Theatre@41

(a company limited by guarantee)

Report and Financial Statements For the Year Ended 31 March 2023

Charity number 1082962 Company number 3940894

Contents
Legal and Administrative Information 3
Report of the Management Committee 5
Our Mission 5
Ensuring our work delivers our aims and outcomes 6
The focus of our work 6
How these activities delivered public benefit 6
Financial Review – Treasurer’s report 9
Structure, Governance and Management 12
Governing Document 12
Recruitment and Appointment of Management Committee 12
Risk Management 12
Organisational Structure 13
Responsibilities of the Management Committee 13
Members of the Management Committee 13

2

Legal and Administrative Information

Charity Name: Theatre@41 Ltd Charity registration number: 1082962 Company registration number: 3940894 Registered office and

Operational address: 41 Monkgate York YO31 7BP

Management Committee 2022/23:

Mr A Park Chair Mr P Barton Treasurer Mrs S Baines Secretary Mrs J Hird Secretary Ms E Godivala Trustee Miss H Marshall Trustee Miss J Murray Trustee Mr J Paterson Trustee Mrs M Smales Trustee

Independent Examiner:

Minford Chartered Accountants

Moyola House

31 Hawthorne Grove

York

YO31 7YA

3

Governing Document:

Memorandum and articles of association incorporated 1 March 2000 as amended by special resolution dated 30 September 2020. Certificate of incorporation on change of name dated 4 February 2008. As amended by special resolution(s) dated 30 March 2017 as amended by certificate of incorporation on change of name dated 25 October 2018

The full Articles of Association can be found here.

4

Report of the Management Committee

Our Mission

Increasing access to and engagement with the performing arts by the people of York, as participants and as audience members, by providing a flexible, affordable and quality space for all.

Values

Aims

Outcomes

5

Ensuring our work delivers our aims and outcomes

We review our aims, outcomes and activities each year, ensuring we are constantly working toward our overall mission statement. This review looks at what we achieved and the key outcomes of our work in the previous 12 months. The review looks at the success of each key activity and the benefits they have brought to our users, audience, volunteers and wider community. We have referred to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the trustees consider how planned activities will contribute to our aims.

The focus of our work

In 2022/23 the board’s focus remained on growing the use of Theatre@41 for both performers and audiences, cementing the theatre as the number one studio theatre in York. We did this through:

How these activities delivered public benefit

● Artistic programming

In 2022/23 the John Cooper Studio hosted 152 performances, 119 of which were from York based companies. Of the 22 York based companies that used the studio in 2022/23, 11 did so for the first time, including:

6

Theatre@41 provides a supportive starting point for companies wishing to stage theatre. We make this possible through affordable, flexible, hire prices while working with new companies to help them realise their productions.

Alongside this we welcomed back associate companies Once Seen Theatre, Pick Me Up Theatre and York Stage (with their first full length show since the pandemic) as well as YMTC, Fladam and many others.

We continued to take advantage of times when the theatre was not booked by local groups to fill the calendar with touring shows and comedy. Helping build our audience base.

This approach has established Theatre@41 as York’s leading fringe-like venue, ensuring audiences access a wider range of performing arts activities and events while local and touring artists provide a more diverse range of performances.

● Theatre@41 Identity

2022/23 saw us further establish our presence in York. We registered 2871 new customers on our online box office, taking us over 4000 registered users. We welcomed over 7500 people through our doors.

We continued to improve our season brochures, and won £1000 worth of advertising on York Mix website and radio. Our social media activity increased. We remain active members of Visit York and Indie York networking with local businesses and York Council to ensure more people were aware of our work to be able to participate in and attend creative activities

● Community work

The theatre now has over 50 volunteers, covering front of house duties, bar and ticket scanning. We qualified for a Make It York grant to buy a projector and run our first ever Groves Community Cinema in September 2022. The cinema was run on a “pay what you feel” basis enabling any local resident to enjoy a movie, while being introduced to the theatre.

The theatre also participated in the Warm Places schene, providing a warm safe space for people in the winter of 2022/23

● Infrastructure

August 2022 saw the installation of our much awaited new lighting rig. The state of the art facility, part funded by ward funding from York City Council, increased access to the theatre by making it much easier for companies of all abilities to operate the technical side of shows, while also making the venue able to host more ambitious shows.

In December 2022 we replaced the 2 building boilers with one intelligent boiler that heats the building at the appropriate temperature for the outside temperature. Saving the theatre on ever increasing heating costs.

7

● The future

In July 2022 we hosted our first ever board team day, where we took stock to discuss what we thought we were doing well and what we could do better.

We celebrated the successes of our warm front of house welcome, the extra income from our own bar, improved technical infrastructure, impactful marketing and regular use of our rehearsal rooms. Our work on governance means we remain compliant on the increasing number of regulatory requirements around both charities and entertainment premises, while the finances of the theatre and charity are healthy.

But we acknowledged there is more to be done with a desire to further improve the infrastructure of the building and tackling the increasing repair list, building our volunteer base and developing our fundraising capacity to be in a positon to apply for signifiant funds to transform the building and the user experience.

Alan Park

Chair

8

Financial Review – Treasurer’s report

In closing last year's Treasurer's Report, I asked for one simple thing - More of The Same, please.

Well, my wish was not only answered it was wonderfully and emphatically surpassed. Would that this year's report could end here with the same request as last year.

However, things are not that simple.

So here are the details for the last year.

In every respect the metrics for last year were positive compared to the previous year. However, a note of caution should be inserted here. When comparing figures detailed throughout this report it needs to be remembered that the year 2021/2022 was not a full year of shows in the way 2022/2023 was. The brackets after 2021/2022 figures represent a pro rata rounding up to a full year of shows

Show Activity 2021/22 2022/23
Shows 30 (51) 65
Performances 64 (109) 152
Audience 2933 (5028) 9042
% Capacity 55% 67%

The increases seen, virtually, across the board has meant that turnover is up, of course the same note of caution needs to apply

Show Activity 2021/22 2022/23
Turnover (inclusive of ticket sales) £74.3k (£127.4k) £197.5k
Costs (inclusive of ticket splits) £68.8k (£117.9k) £191.7k
Earnings £5.5k (£9.7k) £5.8k
Proift % 7.4% 2.9%

At first glance it would appear that our finance performance has got worse, producing a level earning barely above that achieved the previous year. However, a closer look would

9

show that we were able to withstand the failure of both boilers at the coldest time of year. The additional heating costs and replacement cost of a new, much more efficient, boiler was in excess of £10K. This would have given a £15.8K earning level which would have equated to an 8% profit margin, which would have been much more in line with expectation. Another consideration that should be taken into account is that it only due to the increased activity level and the resultant financial strength that allowed us to more than survive what would have been a catastrophic event in previous years, which would have possibly resulted in the closure of the building (perhaps permanently).

The increase in theatrical activity during the last year has had a correspondingly positive effect on ancillary earning streams.

----- Start of picture text -----
Ancillary Earnings 2021/22 2022/23
Ticket splits £10.4k (£17.8k) £19.6k
Ticket handling fee £2.9k (£4.9k) £9.5k
Speakeast £567 (£972) £5.8k
Fundraising £6.7k £11.8k
Membership £500 £600
----- End of picture text -----

Ticket Splits

Earnings from Ticket Splits increased but by a lower rate than would have been expected. There are two primary reasons for this. The first is that more Production Companies choosing to pay an hire fee rather than accepting a split of the ticket revenue.

Ticket Handling Fee

Earnings from the Ticket Handling Fee has increased in line with the increase in ticket sales.

Speakeasy

Earnings from the bar have obviously increased (seemingly by a lot). However, the reasons for what looks like a major increase in earnings is because the costs associated with the bar for year 2021 / 2022 include a number of one off expenditures such as the creation of the bar, equipment and the pipeline filling of stock.

Fundraising

10

Fundraising at Theatre@41 increased rapidly during 2022/2023.

Membership

The increase in earnings from Membership between 2021/2022 and 2022/2023 was due to the growth in the number of Members from 50 to 60.

Overall, the financial performance of Theatre@41 during the year 2022/2023 could be described as pleasingly satisfactory. The financial position is looking much more stable. This increased stability has meant that the Board has been able to invest in the building.

The expectations for the coming year would be for financial position to remain rosy, assuming that the present level of activity is maintained. To maintain the current level, or even increase it, of activity will require at least as much hard work as it did last year. To maintain this level of work will not be easy and will need at least the same level of commitment from the Board and volunteers as was shown in the year just gone.

Given that commitment and with the possible help of employed staff I feel confident in asking a slightly different request for next year.

Even more of the same, please.

Philip Barton Treasurer

11

Structure, Governance and Management

Governing Document

The organisation is a charitable company limited by guarantee, incorporated on 8 August 1992 and registered as a charity on 1 March 2000. The company was established under a Memorandum of Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up members are required to contribute an amount not exceeding £1.

Recruitment and Appointment of Management Committee

The directors of the company are also charity trustees for the purposes of charity law and under the company’s Articles are known as members of the Management Committee. Under the requirements of the Articles of Association the members of the Management Committee are elected to serve for a period of two years after which they must be reelected at the next Annual General Meeting.

All member of the Management Committee give their time voluntarily and received no benefits from the charity. Any expenses reclaimed from the charity are set out in the accounts.

Mrs Susannah Baines, Mr Philip Barton, Mrs Jo Hird and Mr Jim Paterson retire by rotation and, being eligible, offer themselves for re-election. Mr Samuel Elmer and Mrs Alison Taylor, being eligible, offer themselves for election.

Risk Management

The Management Committee routinely conducts a review of the major risks to which the charity is exposed. A risk and compliance register has been established and is updated at least annually. Where appropriate, systems or procedures have been established to mitigate the risks the charity faces.

Internal control risks are minimised by the implementation of procedures for authorisation of all transactions and projects. Procedures are in place to ensure compliance with health and safety of staff, volunteers, clients and visitors to the centre. These procedures are periodically reviewed to ensure that they continue to meet the needs of the charity.

12

Organisational Structure

Theatre@41 has a Management Committee of up to 9 members who meet regularly and are responsible for the operation, strategic direction and policy of the charity. At present the Committee has eight members from a variety of professional backgrounds relevant to the work of the charity.

Responsibilities of the Management Committee

Company law requires the Management Committee to prepare financial statements for each financial year which give a true and fair view of the state of the affairs of the charitable company as at the balance sheet date and of its incoming resources and application of resources, including income and expenditure, for the financial year. In preparing those financial statements, the management committee should follow best practice and:

The Management Committee is responsible for maintaining proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006.

The Management Committee is also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Members of the Management Committee

Members of the Management Committee, who are directors for the purpose of company law and trustees for the purpose of charity law, who served during the year and up to the date of this report are set out on page 3.

13

Registered number: 03940894

THEATRE@41 LTD. DIRECTORS' REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

Minford Chartered Accountants 31 Hawthorne Grove York Yorkshire YO31 7YA

Theatre@41 Ltd. Directors' Report and Unaudited Financial Statements For The Year Ended 31 March 2023

Contents

Contents
Page
Company Information 1
Directors' Report 2
Accountants' Report 3
Income and Expenditure Account 4
Balance Sheet 5
Notes to the Financial Statements 6—7
The following pages do not form part of the statutory accounts:
Detailed Income and Expenditure Account 8—9

Theatre@41 Ltd. Company Information For The Year Ended 31 March 2023

Directors Mr P C Barton Mrs S J Baines Mrs E J Godivala Mrs J Hird Ms H K Marshall Miss J A Murray Mr A Park Mr J E Paterson Mrs M Smales Company Number 03940894 Registered Office 41 Monkgate York YO31 7PB Accountants Minford Chartered Accountants 31 Hawthorne Grove York Yorkshire YO31 7YA

Page 1

Theatre@41 Ltd. Company No. 03940894 Directors' Report For The Year Ended 31 March 2023

The directors present their report and the financial statements for the year ended 31 March 2023 .

Directors

The directors who held office during the year were as follows:

Mr P C Barton

Mrs S J Baines Mrs E J Godivala Mrs J Hird Ms H K Marshall Miss J A Murray Appointed 29/09/2022 Mr A Park Mr J E Paterson Mrs M Smales

Statement of Directors' Responsibilities

The directors are responsible for preparing the Directors' Report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the surplus or deficit of the company for that period. In preparing the financial statements the directors are required to:

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and 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 Companies Act 2006. 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.

The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Small Company Rules

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

By order of the board

Date

Page 2

Theatre@41 Ltd. Accountants' Report For The Year Ended 31 March 2023

In accordance with the engagement letter dated , and in order to assist you to fulfil your duties under the Companies Act 2006, we have compiled the financial statements of the company from the accounting records and information and explanations you have given to us.

This report is made to the directors in accordance with the terms of our engagement. Our work has been undertaken to prepare for approval by the directors the financial statements that we have been engaged to compile, to report to the directors that we have done so, and to state those matters that we have agreed to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's directors for our work or for this report.

You have acknowledged on the balance sheet as at year ended 31 March 2023 your duty to ensure that the company has kept proper accounting records and to prepare financial statements that give a true and fair view under the Companies Act 2006. You consider that the company is exempt from the statutory requirement for an audit for the year.

We have not been instructed to carry out an audit of the financial statements. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the financial statements.

Signed

Date

Minford Chartered Accountants 31 Hawthorne Grove York Yorkshire YO31 7YA

Page 3

Theatre@41 Ltd. Statement of Financial Activities For The Year Ended 31 March 2023

(Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses)

Income from:
Donations and legacies
Charitable activities
Fundraising activities
Total Income
Expenditure on:
Charitable activities
Fundraising activities
Other expenditure
Total expenditure
Net (expenditure)/income
Reconciliation of funds
Total funds brought forward
Total funds carried forward
Income from:
Donations and legacies
Charitable activities
Fundraising activities
Total Income
Expenditure on:
Charitable activities
Fundraising activities
Other expenditure
Total expenditure
Net (expenditure)/income
Reconciliation of funds
Total funds brought forward
Total funds carried forward		 Unrestricted
716
58,109
13,541
72,366
(6,445)
(7,258)
(64,630)
(78,332)
(5,966)
12,963
6,997		 Restricted
10,297
-
-
10,297
(1,906)
-
-
(1,906)
8,391
347,463
355,854		 Total 2023
11,013
58,109
13,541
82,663
(8,351)
(7,258)
(64,630)
(80,238)
2,425
360,426
362,851
Unrestricted
14,760
37,283
4,982
57,025
(5,942)
(3,987)
(47,402)
(57,331)
(306)
13,269
12,963		 Restricted
4,750
-
-
4,750
(426)
-
-
(426)
4,324
343,139
347,463		 Total 2022
19,510
37,283
4,982
61,775
(6,368)
(3,987)
(47,402)
(57,757)
4,018
356,408
360,426

The notes on pages 6 to 7 form part of these financial statements.

Page 4

Theatre@41 Ltd. Balance Sheet As At 31 March 2023

Notes
FIXED ASSETS
Tangible Assets
4
CURRENT ASSETS
Debtors
5
Cash at bank and in hand
Creditors: Amounts Falling Due Within One Year
6
NET CURRENT ASSETS (LIABILITIES)
TOTAL ASSETS LESS CURRENT LIABILITIES
NET ASSETS
FUNDS OF THE CHARITY
Restricted income funds
Restricted funds
Revaluation reserve
Total restricted funds
Unrestricted income funds
Unrestricted Funds
TOTAL FUNDS		 2023
£
£
354,333
354,333
13,280
20,410
33,690
(25,172)
8,518
362,851
362,851
141,897
213,957
355,854
6,997
362,851		 2023
£
£
354,333
354,333
13,280
20,410
33,690
(25,172)
8,518
362,851
362,851
141,897
213,957
355,854
6,997
362,851		 2022
£
£

335,456

335,456
3,888
37,056
40,944
(15,975)

24,969

360,425

360,425
133,506
213,957
347,463
12,963

360,425		 2022
£
£

335,456

335,456
3,888
37,056
40,944
(15,975)

24,969

360,425

360,425
133,506
213,957
347,463
12,963

360,425
354,333



8,518		 335,456



24,969
33,690
(25,172)		 40,944
(15,975)



362,851 360,425
362,851 360,425
141,897
213,957
355,854
6,997		 133,506
213,957
347,463
12,963
362,851 360,425

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

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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

On behalf of the board

Date

The notes on pages 6 to 7 form part of these financial statements.

Page 5

Theatre@41 Ltd. Notes to the Financial Statements For The Year Ended 31 March 2023

1. General Information

Theatre@41 Ltd. is a private company, limited by guarantee, incorporated in England & Wales, registered number 03940894 . The registered office is 41 Monkgate, York, YO31 7PB.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

Rendering of services

Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Freehold Nil Fixtures & Fittings 15% RB

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: NIL (2022: )

4. Tangible Assets

Cost
As at 1 April 2022
Additions
As at 31 March 2023
Depreciation
As at 1 April 2022
Provided during the period
As at 31 March 2023
Net Book Value
As at 31 March 2023
As at 1 April 2022		 Land &
Property
Freehold
£
330,000
-		 Fixtures &
Fittings
£

49,977
23,228		 Total
£

379,977

23,228
330,000
73,205
403,205
-
-		 44,521
4,351
44,521

4,351
- 48,872
48,872
330,000
24,333
354,333
330,000
5,456
335,456

Page 6

Theatre@41 Ltd. Notes to the Financial Statements (continued) For The Year Ended 31 March 2023

5. Debtors

. Debtors
Due within one year
Trade debtors
. Creditors: Amounts Falling Due Within One Year
Trade creditors
Agents holding account
Other creditors
Accruals and deferred income		 2023
£
13,280
13,280
2023
£
5,624
16,367
1,597
1,584
25,172		 2022
£
3,888
3,888
2022
£
3,190
11,201
-
1,584
15,975

6. Creditors: Amounts Falling Due Within One Year

7. Company limited by guarantee

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.

Page 7

Theatre@41 Ltd. Detailed Income and Expenditure Account For The Year Ended 31 March 2023

INCOME

INCOME
Donations and legacies
Appeals and donations
UK Government grants
Grants - other
Charitable activities
Handling fees
Room hire income
Other income
Fundraising
Other fundraising activities
Bar income
Membership fees
Interest receivable
EXPENDITURE
Raising funds
Bar purchases
Charitable activities
Staff training
Volunteer expenses
Trustee expenses
Accountancy fees
Professional fees
Depreciation
Other expenditure
Project costs
Equipment costs
Rates		 £
716
-
10,297
11,013
9,504
47,312
55
1,239
58,109		 £
4,750
12,001
2,759
19,510
3,646
31,259
120
1,998
37,023
12,848
542
151
13,541
7,258
7,258		 4,721
520
1
5,242
3,987
3,987
300
644
861
2,196
-
4,350
8,351
1,562
1,205
930		 90
275
930
1,288
2,567
1,218
6,368
6,432
-
590

...CONTINUED

Page 8

Theatre@41 Ltd. Detailed Income and Expenditure Account (continued) For The Year Ended 31 March 2023

Light and heat
Hire and leasing of equipment
Computer software and maintenance
Repairs, renewals and maintenance
Insurance
Printing, postage and stationery
Advertising and marketing costs
Telecommunications
Consultancy fees
Subscriptions
Bank charges
Credit card charges
Sundry expenses
Cleaning costs
Depreciation		 6,099
632
2,850
20,930
10,460
349
3,934
2,338
3,300
1,268
246
2,246
115
6,167
-
64,630		 4,678
169
258
15,583
5,342
1,006
3,365
273
486
48
162
-
3,995
4,898
118
47,402

Page 9