e 1ke&tre Skea Our door is always open The Theatre Shed Limited Company Re8lStration Number 05657857 UK Charity Commlsslon Reglstration Number 1114231 Annual Report and Accounts Year ended 31st August 2024 wiiiw,fcicebofTrk. r r)Irii'ih(:tIIL<il i esli,..doliLJshaiii
The Theatre Shed Limited D1CtOrS, Report Year ended 31 August 2024 CONTENTS REFERENCE AND ADMINISTRATION INFORMATION...................... . DIRECTORS. . STRUCTURE AND GOVERNANCE........................... RISK MANAGEMENT.............. BACKGROUND AND YEAR IN REVIEW..................................... . . ARTISTIC REVIEW................................................................................................ .. . ComponyRestrurture...,................. ............................................,...................... Produrtlons................................. . . Outreoch.......,....,...........,......................,..,............,....... ... SummerSd7eme.... .........................................,..............,........,........ ......... .. Garden Shed..... ....................,...................,....................,..................,...... ...... CHALIENGES AND OPPORTIJNITIES................................................................. . . .. FINANCIAL REVIEW................................................... Fundlng....,...,..,...,........,,..,..,........,..,.......................,,................. . .. . Futurestrateqy,..,..,,..,,....,,.........,....,.....,.........,.....,............,.....,...,,......,.............. .... ... Short-term Str(rteqy... ..... Medlum-temi Strateqy..............................,....,......,...............,....,..,,............................. ...... Lonq-term Strategy......... STATEMENT OF DIREcfoRS' RESPONSIBIUTIES... REPORT TO THE TRUSTEES AND DIREcfoRS OF THE THEATRE SHED UMITED IN RESPEcf OF THE ACCOUNTS FOR THE YEAR ENDED 31 AUGUST 2024............................. . ........................ ......................... . ...................................................11 Responsibilities ond basls of report............. .. Independent Exam1ner stotement..... .11 .11 INCOME AND EXPENDITURE ACCOUNT................................................................................................................ ........ .12 BALANCESHEEr................. .13 FINANaAL DECLARATION...... ..14 NOTES FORMING PART OF THE FINANaAL STATEMENTS........................ .................................................... ... .... .15
The Theatre Shed Limited Directors, Report Year ended 31 August 2024 The Directors present their report together with the unaudited financial ststements for the twelve-month financial period ended 31st Au8USt 2023 (the °Accounting Period.). The Company Is a reglstered Charity and the Dlrectors have adopted the provisions of the Statement of Recommended Practlce: Accounting and Reporting by Charities issued In October 2019. Reference and Admlnlstration Information Charlty Name: Charlty Registration Number: Company Reglstration Number: The Theatre Shed 1114231 05657857 RegSstered Office: Unlt 8, Chlltern House Waterslde Chesham Buckinghamshlre HP5 IPS Secretary: Bankers: A Thorpe Natwest Bank PIC Amersham Dlrectors The directors in offlce durfn8 the finandal year: D Cook (Chalr- reslgned 17 Jul 2024) S Blackman E Snow M Rann E 8oyd-Hall J Reynolds (reslgned Nov 2023) l Afzal L Friedner (Chair- appolnted Au8 2024) C Davles (appolnted 19th Mar 2024) A Thorpe The present Board Comprises dlrectors drawn from a broad section of the communlty wlth experlence In the performln8 arts, educatlon and commerce. All dlrectors are non*xecutive and recelve no fees or emoluments other than the reimbursements of expenses. The Dirertors are also Trustees for the purposes of Charity Law. Structure and Governance The Company Is Ilmlted by Guarantee and was Incorporated under the Companles Acts on 19th December 2005 as a 'not-for-proflt' charlty to prolde an Incluslve performin8 arts facility for chlldren and youn8 people. The Company was reglstered as a charlty on 16th May 2006. The Company Is constltuted under a Memorandum of As50datlon that establlshed the Companvs objerts and powers and is regulated by Its Artlcles of Assoclatlon. In the event of the Company being wound up the Members are required to contribute an arnount not exceedSng £10. The Articles, revised In April 2023, now reflert that directors/trustees are automatically also the Members.
The Theatre Shed Limited Directors, Report Year ended 31 August 2024 Rlsk Mana8ement The Directors have a duty to identify and review the risks to whlch the Company is exposed and to ensure that approprlate controls are in place to provide reasonable assurance against fraud and error. All relevant policles are In place, and a full risk review has been undertaken this year and will be conducted annually. Insurance cover for Employees Liability and Public Liability was renewed and Is in place. Specifically, the Companvs Chlld Protection & Welfare, Equality & Inclusion, Di8nlty at Work, Health & Safety, DRB, Complaints Procedure, Recruitment of Ex-offenders, Voluntary Reportlng and Control of DBS Certlflcates were all reviewed durlng the Accountin8 Perlod. The Company has revlewed Its Data Protectlon policles In Ilne wlth the Data Protection Act 2018 and considers that It is compliant. Background and Year In Revlew We encourage all chlldren and young people, re8ardless of any Dlsabillty or dlsadvantsge, to prepare for and particlpate In Ilve stage performances through a serles of weekly workshops In muslc, drama and dance. An "Elevatorf statement encapsulating the Companvs actlvltles reads as follows: 'The Theatre Shed is a unlque and Incluslve theatre cornpany where young people from every walk of life, background and ablllty come together. We use the power of Performln8 Arts to provide young people wlth the confldence and independence to feel part of soclety, contrlbute to their communltles and live fulfllllng and dignified Ilve5,° The Companrfs actlvltles be8an In September 2005 as an outreach project of The Chlckenshed Theatre Trust Company based In Southgate, London Nl, and were Inltlally undertaken by Chesham Park Communlty College (the predecessor to Chlltern Hllls Academy) and flnanced through Its performlng arts subsidy. Because of the uncertalnty that thls source of flnance would be malntained on a lon8-term basls, the College declded to establlsh a separate legal entlty that could become Independent of the College and Its flnancial support. The Company was therefore Incorporated wlth the Intentlon that It would become self-flnanclng on a sustalnable basls by seeklng flnanclal support and sponsorshlp as a re8lstered charlty. As alwaysi It Is the sklll, enthuslasm and tenaclty of the Artlstlc Tearn whlch Ss the drlvlng force behlnd the success of The Theatre Shed, For that, the Board offers Its slncere 8ratltude for all thelr efforts and hard work. The Board Is grateful for the contlThued relatlonshlp wlth the Beacon School In Chesham Bols and the House of Tree In Ashley Green. Both venues generou51y hosted one evenlng per week of workshops until our move to the Chlltern Hllls Academy In May 2024. The Board wlshe5 to thank the Beacon School, the House of Tree and Chlltern Hllls Academy for thelr support durln8 the Ac¢ountln8 Perlod. ' Several changes were made to the Board durlng the flnanclal year. Dave Cook retlred followlng 6 very successful years of steerlng Shed through COVID and subsequently. The board sends a huge debt of 8ratltude to Dave for hls successful tenure and for hls contlnued and ongolng support. Laura Frledner (HR Trustee) took over as Chalr of the board and Joel Reynolds (Dlverslty Trustee) reslgned from the board In order to become a member of the Artlstlc Team once agaln. Cllff Davles Jolned the board In March 2024, brlnglng with hlm a wealth of knowledge and experlence of the area, buslness and charlty governance. The board was deeply sad to announce that Richard Ogden, the volunteer bookkeeper for Theatre Shed for many years, sadly passed away. The board wlshes to acknowled8e their deepest gratltude to Rlchard for h55 hard work and unfalllng commltment to Shed over the years. He contlnues to be sadly rnissed. The board wishes to thank Chiltern House for thelr contlnued support wlth regards to offlce and storage space. The Company continues to work wlth a membership of 60 chlldren and young people between the ages of 5 and 32.
The Theatre Shed Limited D1CtOrS. Report Year ended 31 August 2024 ARTISTIC REVIEW Compony Restrurture The Artistic Directorfs maternty leave was covered in-house. A new administrator role was temporarily filled by a mentor on a gap year until a permanent administrator was appointed in January 2024. The Artistic Director returned part-time, using Keeping-in-Touch days untll April, to oversee the recruitment and lead a restructure: the Movement and Music specialists became core workshop Creatlve Managers, the Development Manager took on Outreach, and Trustee Joel Reynolds stepped off the board to become a paid Artlstic Team Assistant. The Artlstlc Dlrector shifted focus to strategy and Management. The team now conslsts of six paid freelancers. In May 2024, Wednesday workshops moved to Chlltem Hills Academy ICHA), leadlng an intent to unify all actlvltles at rr5's founding venue. indudln8 the summer performances. Mentors Mentor numbers experlenced the usual drop In Sepvoct as some left for unfverslty. There was a sense of dlsconnection durlng the periods of change, with some mentors appearlng not fully content, though coheslon had notlceably Improved by the end of the summer. Later In the academlc year, Youth Support numbers Increased, wlth some Jolnln8 to fulfll thelr Duke of Edlnburgh Award requlrements. A total of 29 mentors were Involved, and 12 recelved Flrst Ald certfflcatlon through Proacttve Training, who provlded a 50% course dlscount. two others, Mary and Holty, were certffied earller in the year. The team faced challenges around Illness and holldays, and arranglng cover, but retentlon of long-stsndlng mentors remalned strong. Pmdurtlons In September 2023, fundlng from Heart of Bucks Young Peoples Wellbelng Fund and MENCAP supported our full company of members to devlse and perfom a Peter Pon4nsplred pantomlme exploring wellbein& growln8 UP transltlons and play. Vlsltlng professlonals led wellbelng masterclasses, Includin8 hand massage and therapeutlc hortlculture, whlch were Integrated lrto the flnal show, with audience partlclpatlon In mlndful breathlng. The performance was enhanced wtth projectlon, borrowed large set pleces, and donated equlpment. Workshops groups worked on their own separate productlons durlng these ternis to allow bigger parts and more stage time for each member, Instilling a greater sense of athievement and selfsteem. Chlldrerfs Theatre created a Short, Imaglnative show Inspired by Horrfble Hlstorles. Durln8 dass, the chlldren explored hlstorlcal events through a ma8lc book portal that transported them back In tlme, led by thelr own Ideas and creatlvlty. Performed at the new CHA spao, the short and slmple format supported all members to feel confldent on stage In thls unfamillar 5ettln8. Youth TheJtr¥s two groups revlsited thelr lockdown-devised plece 8roinstorm. The project grew in scale due to membershlp changes and was shaped by the show's deadlines. Productlon costs were kept low due to a lack of fundralslng durln8 rnaternity cover. Later rehearsals and final performances took place at CH& wlth some Ilghtin8 challenges. Overrun at tschnical rehearsal led to last mlnute swltching from 2x double bllls to two separate shows that ultimately ran successfully, wfth strong member ownership of plot and characters. Company Theatre produced an orf8lnal, immerslve show explorln8 Chesham's rfth hlstory, researched both onllne and In person using a local history map. The performance was stsged In a pub-style setup at the Whlte Hlll Centre, wlth tsbles and chairs, Ilve slngln& and snacks served durfng the show, which challenged members to think about their audlence and the space they were in. MENC4Pfundln8 beneffted the project, allowing greater creative ambitlon with the production cost.
The Theatre Shed Limited Directors, Report Year ended 31 Augusl 2024 Outreach The totsl reach wa$ 1688 indlvlduals. Amersham Outreach: With fundlng from the Amersham Communlty Board, we delivered 7 interactive school assemblles and 4 community workshops wlth Talkback, Community Youth Ventures and Chllterns Lifestyle Centre. Hlghllghts induded enthusiastlc British Si8n Language partlcipation at Amersham Sthool and young people recalling slgns from earller sessions. 82% of people Involved in the project said they know more about The Theatre Shed 81fA of people involved In the Project said they understand what incluslon means Chesham Transltlon: We delivered performln8 arts workshops to 64 Year 2 pupils at Newtown School, exploring emotions around transitlonln8 to a new school. Thi5 was followed by a 2-day school holiday project with 23 thildren from Newtown, Elm Tree, and Brushwood schools, hosted at Brushwood to support thelr move 5nto Year 3. Actlvitles focused on building frlendships, confldence, and resilience through creativity. Teachers reported noticeable improvements In self*steem and positivity compared to previous cohorts and expressed enthusiasm to repeat the project. Of Indlviduals involved in the project: 100% reported feelln8 better at Ilstenln& collaboratln& and expresslng feelln8S 100% reported feelln8 more prepared and exclted for thelr new sthool Some partlclpants have slnce Jolned other Theatre Shed actlvitles, Indudln8 holiday projects and Children's Theatre. Summer Scheme In August 2024, we dellvered 3 weeks of school hollday actlvltles for over 100 partlclpants as members and volunteers. The flrst two weeks, for ages 6-17, were match-funded by the Heart of Bucks and Bucks Councll Hollday Actfvltles and Food inltlatlve. Held at Whltehlll Centre, they featured collaboratlons wlth CUE 34, Lehane Rock Sthool, and Cardboard Shed. The thlrd weeK funded by MENCAP and Bally Thoma5, offered adults {18+) a tallored pro8rarnme at CHA Involvlng a mlx of actlvltles from drama games to theatre tours, careers talks and outdoor adventure. Gorden Shed Thls excltln8 Garden Shed Project phase saw expanslon Into a new plot, wlth Increased 8rowin8 space through creatlon of a 8ravelled area for a potted garden and new 8round 8rowlng falsed beds. We also Installed a pond for wlldlrfe. Members selected plants and helped desl8n the 5pa¢e. Oesplte weather-related setbacks, the season yielded our most varled harvest yeL
The Theatre Shed Limited Directors. Report Year ended 31 August 2024 CHALLENGES AND OPPORTUNITIES The Board contlnues to believe that the Company has over-relied in the past on the assumption of generatlng Suc55fUl grant applications, and that this cannot be relied upon In the future for a varlety of reasons. It needs to dlverslfy Its Income sour$ and, as such, It believes that materlally Increaslng membership must be of paramount importance - both flnanclally and strategically. Historicallyi subscrSptlon revenues generated through membershlp have been a relatively small part of overall Income, however, thls flnancial year saw membershlp subscriptlons grow despite the Inability of some members to pay the full subscrlption and to bursaries being awarded. The Board Is extremely grateful to the Artistic Team for the focus applied to achleve thls during such challenging tlmes. In addltlon, the Board Is clear that, wherever posslble, future grant appllcatlons should defray salary costs (whith still essentlally make up a sl8nlflcant proportlon of the cost base) and not slmply add to core costs. As mentioned above, the Companvs partnerships wlth the Chlltern Hills Academy and the Whltehlll Centre have provided the Board wlth much optlmlsm for the future and many of the lrnmediate benefits of these relatlonshlps have become apparent durlng the Accountlng Perlod and have been referred to above. The need for a local corporate flnanclal sponsor remains of Importance to the Company. The Board alms to source a small to med5um enterprise (SME) based In the South Bucks area to partner with the Company In return for some secured fundin8 over a perlod of years and thls contlnues to be actively explored.
The Theatre Shed Limited Directors, Report Year ended 31 August 2024 FINANCIAL REVIEW Funding The 8oard Is disappolnted to report a deficlt of £10,098 for the Accounting Period, compared to a surplus of £6,871 in the previous year. This was in part due to the rnaternity cover required for the Artistic Dirertor, All. We believe that the significant, continued rlse in the costf-11vln8 continues to impact our donations, and the artistic and fundralslng teams must be applauded and thanked for their hard work with those funds raised thls year. Durlng the Accountlng Perlod, the Company raised £175,424 compared to £152,468 for the prlor year, an Increase of 15%. Despite holding no large fundraislng event during the year, we received £134,211 from Grants, Gifts, Fundraislng and Donations compared to £114,538 the previous year. Membership subscrlptlons during the AccountSng Perlod amounted to £23,880- an Increase of 5% on the prior year. The Board's general thanks go to all donor5 and Snstltutlons that have supported us over the past year. Expendlture during the Accounting Perlod amounted to £185,522. Thls 27% Increase on the prevlous year of £145,597 was due malnly to increased costs needed to generate the Increased income and the Artistlc Dlrectorfs maternity cover. The Board have looked to malntain the level of lunds In the bank account to cover 9 months of future expendlture so that we can ensure that we are able to fund the provision of the key services that we are delivering In a tlme where future income has been dlfficult to forecast wlth any certalnty. At the end of the Accountlng Perlod, there was a cash balance of £92,558 {compared wlth £125,452 at the end of the prevlous Accountlng Perlodl, whlch covers only 6.S months of future expendlture. Therefore, the Board understands that the comlng year wlll need to f¢xus on growlng reserves. All efforts continue to be focused on generating as much revenue as reallstlcally posslble land curtalllng costs where requlred). Future Strateqy As alway5, the Boarcvs short and medlurn-terni objertlves are driven by the contlnued challenglng tlmes (notsbly the ongolng cost4>f-Ilvln8 crlsls). Wlth respect to the Companvs flnanaal posftlon, the Board have looked to strengthen the flnanclal stsblllty of the Company 50 that It Is able to have confldence to dellver crltlcal servlces to those most In need durlng these exceedlngly dlfflcult tlmes. In the longer term, the Board remalns commltted to establlshlng the Company as a unique performlng art5 destination wlthin the Bucks/Berk51Herts area and to materially Increase membership by doing so. Short-tem? Strateqy As In prevlous years, the Board's Immedlate prlorfty Is to generate enough Income to enable It to contlnue operatlng for (at least) the 2025-26 Academic year. As noted above, membership recrultment is of paramount Importance and Is now established as the key objectlve for the Board, hopefully uslng our outreach partners and other student bases as a platfonn for thls. As always, the 8oard wlll contlnue to monltor all expendlture and operating costs very closely during the forthcomin8 year.
The Theatre Shed Limited Directors, Report Year ended 31 August 2024 Medium-term Strategy The Board is focused on 4 maln objertives.. al Dlversifying the Companvs income from as many different sources as possible so it is not over-rellant on Trust Grant awards. Key to this is the establishment of long-terni partnerships, sponsorship and afflllate relatlonships with third partles (see above) b) Continuln8 to integrate the Cornpany Into the local community, which should reap a number of benefits, Including increased membershlp, Increased medla profile and increased interest from local mpanies c) Continulng to accelerate the Q)rnpanVs Outreach programme into local schools, MpanIeS and other Instltutlons {see above) d) Increaslng Membershlp back to 2010 levels of ILK)+ Long-term Strategy As has been noted In previous Directors, Reports, the Company and Its Board remaln committed to achlevlng the Strateglc alms set In 2008," namely to al Malntsln the best Chlldren's, Youth and Q>mpany Theatre, whlle Increaslng Its cohort and multl-ethnlc mlx b) E5tsbllsh the Company as a centre of excellence for Incluslve theatre tralnlng wlthln the Bucks/Berks/Herts area and have a successful tourlng programme In place throughout thls area c) Secure long-term fundln8 to provlde securfty for the Company, Its staff and members d) Achleve local, natlonal and Internatlonal recognltlon as an arts organlsatlon
The Theatre Shed Limited Directors, Report Year ended 31 August 2024 ststement of Directors, Responsibilities The directors are responsible for preparing their report and flnancial statements in accordance with applicable law and regulations. Company law requires the directors to prepare financlal statements for each financial period that give a true and fair view of the Company as at the Balance Sheet date and of its incoming resources and application of resources, Including income and expenditure, for the financlal period. In preparing these flnancial statements, the Directors are required to: select sultable accounting pollcles and then apply them consistently. make Judgments and estlmates that are reasonable and prudent. prepare the flnancial statements on the going concern basis unless it is inappropriate to presume that the Company will continue on that basis. The Dlrectors are responsible for keeplng proper accountlng records that disclose with reasonable accuracy at any time the financlal position of the Company and enable them to ensure that its financial statements comply with the Companles Act 2006. They have a general responsibillty for taking such steps as are reasonably open to them to safeguard the assets of the Company and to prevent and detect fraud and other Irregularitles. The financlal statements have been prepared In accordance wlth the Statement of Recommended Practice: Accounting and Reporting by Charltles issued in October 2019, and in accordance wlth the provislons of the Companies Act 2006, insofar as they are applicable to the Company. th Approved by the Board of Trustees on 29 June 2025 and slgned on Its behalf by". Laura Friedner Chair of the Board of Trustees 10
The Theatre Shed Limited Directors, Report Year ended 31 August 2024 Report to the Trustees and Dlrectors of The Theatre Shed Llmlted In respert of the accounts for the year ended 31 Au8USt 2024 Responslbllitles and basls OA report As the charStVs trustees of the Company (who are also the dlrertors of the Company for the purposes of company law)1 you are responsible forthe preparatlon of the accounts in accordan¢e with the requirements of the Companles Act 2006 {'the 2006 Act,). Havln8 satlsfled myself that the accounts of the Company are not requlred to be audlted for thls year under Part 16 of the 2006 Act and are ellglble for Independent examlnatlon, I report In respect of my examlnatlon of vour Charltvs accounts as carrled out under sectlon 145 of the Charltles Act 2011 ('the 2011 Act"). In carrylng out my examlnatlon, I have followed the appllcable Dlrectlons 8iven by the Charlty Commlssion under sectlon 145(5}(b) of the 2011 Act. Independent Examlner's stotement I have completed my examlnatlon. I conflrm that no materlal matters have come to my attentlon whlch glves me cause to belleve that: ac¢ountln8 records were not kept In accordance wlth sectlon 386 of the Companles Act 2006. or the accounts do not accord wlth such records; or the accounts do not comply wlth relevant accountln8 requlrements under sectlon 396 of the Companles Act 2006 other than any requlrement that the accounts glve a 'true and falrf vlew whlch Is not a matter consldered as part of an Independent examlnatlon or the accounts have not been prepared In accordance wlth the tharltles SORP {FRS102) I have no concerns and have come across no other matters In connectlon wlth the examlnatlon to whld) attentlon should be drawn In thls report In order to enable a proper understandlng of the a¢wunts to be reached, Nancy Dickinson (Jun 29, 2025 19.'20 GMT+21 Nancy Dlcklnson, AICB 3 Berks Hlll Chorleywood WD3 SAG th Date: 29 June 2025 11
The Theatre Shed Limited Year ended 37 August 2024 Income and Expenditure Account R•rtrkt•d Total Funds 2Q24 FuThts 2024 2024 Total 2023 Incomlni Resources Mernbershlp Subscriptions Grants Donatlons Fundraising Gala Event Productions & Festivals Courses & Outreach Garden Shed Merchandise Interest 23,880 I,885 18,629 2,696 22,727 68,323 15,465 4,145 26,605 5,702 8,035 L145 299 22 1125 111760 1696 6,728 9,394 920 103 189 9,394 920 103 189 111.7 175,424 1468 R•sources Expendad Fees- Arthtlc Team Fees- All other Rental of premlses Insurance Productlons & Festlvals Courses & Outreach Gala & Fundralslni Garden Shed Stsff Tralnlng Merchandlse General Expenses DepreclatSon 74,381 107,565 M,201 9,360 77,786 37,986 4,828 1,216 1,938 4,382 9,429 3,032 433 1,601 2,104 863 ,513 261 1503 4,334 1150 2,653 5,328 49 352 7,109 232 79 5,955 938 1340 n.762 111,76Q 185.512 145,597 Surplus l (Defi¢ttl I,098) 6,871 12
The Theatre Shed Limited Year ended 31 August 2024 Balance Sheet 2024 2024 2023 TANGIBLE ASSErs Theatrelcomputerloffice Equlpment Net Book Value brought forward Additions In the year lat costl Less Depreclation In the year Rental deposlt- transfer to Current Assets L257 2,120 2,328 11,3401 18631 Net Book Value carrled forward 1245 1757 CURRENT ASSETS Debtors & Prepayments Current Accounts Deposlt A¢Unt 5,953 92,502 56 125,397 55 94511 128,858 100.756 131,615 CURRENT UABIUTIES Credltors falllng due withln one year Income In Advance (Restrirted) 11,2091 15S,1531 11,444) 175,679) 156,362) 177,123) NEf ASSETS 44394 54492 Represented by: FUNDS OF THE CHARITY Balances brought forward 54,492 47,621 SurplusllDéficitl for the year (10,098) 6,871 TOTAL FUNDS 44,394 54,492 13
The Theatre Shed Limited Year ended 31 August 2024 Flnanclal Declaratlon For the flnandal year ended 31 Au8USt 2024 the Company was entftled to exemption under settlon 477 of the Companles Act 2006 relatlng to small companles. No members have requlred the Company to obtain an audit of its accounts for the year ended 31 August 2024 In accordance wlth section 476 of the Companies Act 2006. The dlrectors acknowledge thelr responslbility for complylng wlth the requirements of the Act with respect to accountlng records and for the preparatlon of accounts. These accounts have been prepared In accordance wlth the provisions applicable to companles subject to the small companies, regime. The finanaal statements were approved by the Board on 29 June 2025 and slgned on its behalf by: Laura Frledner Chalr of the Board of Trustees Andrea Thorpe Flnance Trustee & Company Secretsry 14
The Theatre Shed Limited Year ended 31 August 2024 Notes Forming Part of the Financial Statements Accountlng Polldes The principal accountlng pollcles are sumrnarlsed below. The accountlng pollcles have been applled consistently throughout the year. al Basis of Accountlng The Flnanclal Statements have been prepared under the historical cost convention and in accordance wlth the Financial Reporting Standard5 for Smaller Companies leffective January 20071 and the Statement of Recommended Prartlce: Accounting and Reporting by Charities Issued In October 2019. b) Incomlng Resources All incomlng resour are Induded when the Company Is entltled to the Income. c) Resources Expended Llabilltles are recognlsed on an accruals basls when they are incurred and Include VAT whlch cannot be recovered, and whlch is reported as part of the expendlture to whlch It relates. Recelpts from Pertorniances This represents the proceeds from tkket sales from performances produced durlng the perlod less related costs suth as venue hire, the cost of any scenerylprops/ll8htln& advertlsln& the printlng of programrnes et¢ wlth the assoclated expenses shown below. Artlstlc / Admln Foes These reflect the hours requlred for the Artistlc and Admln teams to run workshops In the financlal year plus addltlonal Show and Festlval dates. Productlon Expens•s Thls represents the expendlture requlred to runnln8 performances such as venue hlre, the cost of any scenery/propsnlghtln& advertlsin& the prlntlng of programmes etc. Depr•d•tlon Expenses Flxed assets are added at cost and depreclated on a stralght-llne basls over the expected useful life of the assets, whlch for theatre and offlce equlpment Is.24 years. Debtor5, Prep•yments & Credftors The year ended wlth a small debt for an outreach workshop, accruals for Summer Scheme and outreach payments to the Artlstlc Team. Income In Advance Grant monies and other Income (e.8. Outreath receipts) that were Intended for use post-Au8ust 23 were carrled forward to the next financlal year. Dlrectors No dlrectors recelved any remuneratlon durin8 the year and no dlrector had any personal Interest In any contrart or transactlon entered Into by the Companv. Taxatlon The Cornpany Is exempt from tax on income and 8alns falllng withln sectlon 505 of the Taxe5 Art 1988 or section 256 of the Taxatlon of Chargeable Galns Act 1992 to the extent that these are applied to Its Charltable objerts. 15