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← Creation Theatre Ltd

2025-01-31-accounts

Company number: 06135973 Charity number: 1119379

Creation Theatre Ltd

Accounts

for the period ended 31st January 2025

Wenn Townsend

Chartered Accountants

Oxford

Creation Theatre Ltd

Contents

Trustees’ Annual Report 1 - 4
Independent Examiner’s Report to the Members 5
Statement of Financial Activities 6
Balance Sheet 7
Statement of Cash Flows 8
Notes to the Accounts 9 - 16

Creation Theatre Ltd

Trustees’ Annual Report for the period ended 31st January 2025

The trustees, who are also directors for the purposes of company law, present their report and the financial statements of the charity for the period ended 31st January 2025.

Reference and Administrative Details

Registered charity name Creation Theatre Ltd Charity registration number 1119379 Company registration number 06135973 Registered office Wenn Townsend 30 St Giles' Oxford OX1 3LE Principle address Wenn Townsend 30 St Giles’ Oxford OX1 3LE

The Trustees

The trustees who served the charity during the period were as follows:

Cllr M Clarkson Mr J Bufford (Hon. Secretary) The Rt. Revd. C Fletcher OBE, Mr Z Verjee Mr P Talbot Mr C Tomlinson (Treasurer) Ms J Iball, (Chair) Ms R Watson

All are made aware of any new requirements requested by the Charity Commission and Company Law.

Secretary Mr James Bufford Chief Executive Officer Mrs Lucy Askew (resigned 30 April 2024) Dr Helen Eastman (appointed 11 May 2024) Independent Examiner Lee Baker FCA Wenn Townsend Chartered Accountants and Statutory Auditor 30 St Giles Oxford OX1 3LE

Creation Theatre Ltd

Trustees’ Annual Report (continued) for the period ended 31st January 2025

Structure, Governance and Management

The Creation Theatre Ltd (Creation Theatre Company) is governed by the Memorandum and Articles of Association dated March 5th 2007. In the same year it became a registered charity. The liability of members in the event of winding up is limited by guarantee to an amount not exceeding £1 per member.

All trustees are aware of their legal obligations under charity and company law, the Charity Commission guidance on Public Benefit and have received the Articles and Memorandum of Association. They keep the financial performance of the charity under constant review. They review the Risk Management document on a regular basis. The trustees take seriously the Charity Commission's guidance on Public Benefit and believe the activities of the charitable company are in line with that guidance.

The trustees meet regularly and are actively looking for new members to enhance the range of supportive skills available to the staff team. They commit to Nolan's seven principles of public life: accountability, selflessness, integrity, objectivity, openness, honesty and leadership.

During the year, the day to day management of the company was delegated to the CEO and Artistic Director Dr Helen Eastman

The Trustees consider the Board of Trustees, the Chief Executive and General Manager as comprising the key management personnel of the charity in charge of directing and controlling the charity and running and operating the charity on a day-to-day basis. All Trustees give of their time freely and no Trustee remuneration was paid in the year. The pay of the Chief Executive is reviewed annually and is normally increased in accordance with average earnings, but was not increased this year. The remuneration is reviewed to ensure that it is fair and not out of line with similar roles.

Objectives and Activities

To advance education for the public benefit by the promotion of the arts, in particular but not exclusively, the art of drama. Risk Management and Equal Opportunities Policies are regularly reviewed by the management team and trustees.

Attracting and Retaining Talent

Through the year we were committed to our Rep Company and the opportunity this gave us to provide job security to actors. However, it became clear through the year that the maintenance of a rep company was not financially sustainable, so, as contracts expired, we did not renew them. The reduction in headcount has been helpful financially, and we were careful to include our actors in our decisions. We will continue to pay Equity approved rates and comply with Equity approved policies to ensure that our staff are treated fairly.

Artistic Values

The performance of excellent theatre, chiefly but not solely Shakespeare, in site-specific and unusual locations and online, in which we aim to unlock artistic potential and allow for immediacy and connection with our audiences.

Since their inception, our digital shows have attracted significant interest from theatre critics and academics. Digital productions regularly feature in online journal articles and academic papers and we are aware of three published books that feature Creation’s digital shows. As the impact of the pandemic recedes, we are enjoying returning to our tradition of live, site specific theatre, and encouraging our audiences to join us, particularly by reintroducing the youth chorus in our Christmas 2024 show.

Feedback via regular surveys to our audience, the close monitoring of social media, and an engaged Extras programme ensure a close relationship between the work we produce and its reception by the audience.

Creation Theatre Ltd

Trustees’ Annual Report (continued) for the period ended 31st January 2025

Public Benefit and Charitable Giving

During the year, we continued to produce high-quality, predominantly site-specific work for audiences in Oxfordshire and beyond. Our productions included Boatman Town (a world premiere), Animal Farm, As You Like It, Treasure Island, and Hansel and Grettel. We also developed two new pieces, Extinction Monologues and Even Stranger, in collaboration with leading British playwrights. For our wider digital audience—who have been engaging with our work since the pandemic—we produced an online version of Antigone. We also launched a poetry reading series for local audiences. Additionally, we partnered with the Oxford University Cultural Programme on a performance of The Busy Body, contributing to a wider research project on female playwrights of the 18th century.

We operated the only full-time repertory company in the UK, providing an exceptional standard of employment to our actors.

To improve access for vulnerable and financially strained groups, we continued to offer concessionary tickets for over-60s, jobseekers, disabled people, and their carers. A bursary programme remains in place for workshops and Drama Club.

For all productions, ticket pricing is carefully structured to ensure that an allocation of affordable tickets is available. We expanded our pay-it-forward scheme, enabling us to collaborate with other charities to distribute free tickets to refugee organisations, young carers, and low-income families. We enhanced the accessibility of our performances by ensuring that all productions included a BSL-interpreted or captioned performance, as well as touch tours and relaxed performances for neurodiverse audiences.

We toured work into areas of the county with limited cultural provision, such as Boatman Town on Bicester High Street.

As demand for online education declined post-pandemic, we paused our digital activities for young people. However, we saw significant growth in our in-person provision for young people, offering activities after school, at weekends, and during the holidays alongside a range of tailored workshops in primary and secondary schools. We began running bespoke workshops for deaf children in partnership with local charity, the Oxfordshire Deaf Children’s Society.

Financial Review

The balance sheet shows a deficit of £19,264. It became apparent during the year that the Rep Company model was not sustainable and the actors’ contracts have not been renewed. The Company is behind with some payments to staff and suppliers, and has increased its fundraising activity to bring in cash. The company was breaking even over the last 6 months of the financial year.

Principal risks and uncertainties

The charity maintains a comprehensive risk register and takes steps to minimise risk. Currently the principal risks have been identified as:

Reserves policy

The Trustees intend to return the unrestricted funds to surplus by

The Trustees are also exploring loan finance.

Creation Theatre Ltd

Trustees’ Annual Report (continued) for the period ended 31st January 2025

Responsibilities of the Trustees

The trustees (who are also the directors of Creation Theatre Ltd for the purposes of company law) are responsible for preparing the Trustees Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires 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 company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. The trustees are 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.

In so far as the trustees are aware:

Signed by order of the trustees:-

Carl Tomlinson Director/Trustee

24th February 2025

Creation Theatre Ltd

Independent Examiner's Report to the Trustees of Creation Theatre Ltd

I report to the charity trustees on my examination of the accounts of the company for the period ended 31st January 2025.

Responsibilities and basis of report

As the charity trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 (‘the 2006 Act’).

Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your company’s accounts as carried out under section 145 of the Charities Act 2011 (‘the 2011 Act’). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the company’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the company as required by section 386 of the 2006 Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination; or

  4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Lee Baker FCA Wenn Townsend Chartered Accountants 30 St Giles Oxford OX1 3LE

24th February 2025

Creation Theatre Ltd

Statement of Financial Activities for the period ended 31st January 2025

Note
Incoming resources
Incoming resources from generating funds:
Voluntary income
3
Activities for generating funds
4
Investment income
5
Incoming resources from charitable activities
6
Total incoming resources
Resources expended
Costs of generating funds:
Costs of generating voluntary income
7
Costs of activities for generating funds
8
Charitable activities
9
Total resources expended
Net income before tax
Tax credit receivable
10
Net movement of funds in year
Total funds brought forward
Total funds carried forward
19		 Unrestricted
Restricted
Total
funds
funds
funds
2025
2025
2025
£
£
£
109,180
-
109,180
5,618
-
5,618
63
-
63
436,020
-
436,020
550,881
-
550,881
13,997
-
13,997
21,750
-
21,750
725,680
-
725,680
761,427
-
761,427
(210,546)
-
(210,546)
117,174
-
117,174
(93,372)
-
(93,372)
74,108
-
74,108
(19,264)
-
(19,264)		 Unrestricted
Restricted
Total
funds
funds
funds
2024
2024
2024
£
£
£
68,199
-
68,199
13,337
-
13,337
17
-
17
375,463
-
375,463
457,016
-
457,016
13,114
-
13,114
19,818
-
19,818
506,524
-
506,524
539,456
-
539,456
(82,440)
-
(82,440)
69,868
-
69,868
(12,572)
-
(12,572)
86,680
-
86,680
74,108
-
74,108

The notes on pages 9 to 16 form part of these financial statements

Creation Theatre Ltd

Balance Sheet

31st January 2025
£
Fixed Assets
Tangible assets
15
Current Assets
Debtors
16
117,507
Cash at bank and in hand
21
_
117,528
Creditors: amounts falling due
within one year
17
(140,734)
_
Net Current (Liabilities) / Assets
Net assets
Funds
Unrestricted funds
18
Total funds		 2025
£
3,942
(23,206)
_
(19,264)
═════
(19,264)
_
(19,264)
═════		 £
95,983
29,272
_
125,255
(54,871)
_		 2024
£
3,724
70,384
_
74,108
═════
74,108
_
74,108
═════

These financial statements were approved by the trustees on 24th February 2025 and signed on their behalf by:

……………………………..

Ms J Iball Director/Trustee

Company registration number: 06135973

The notes on pages 9 to 16 form part of these financial statements

Creation Theatre Ltd

Statement of Cash Flows for the period ended 31st January 2025

Reconciliation of increase in funds to net cash flow from operating activities

2025 2024
£ £
Increase/(decrease) in funds (93,372) (12,572)
Depreciation charge 986 745
(Increase) in debtors (21,524) 8,377
Increase/(decrease) in creditors 85,863 (8,311)
Interest received (63) (17)
─────── ───────
Net cash flow from operating activities (28,110) (11,778)
═══════ ═══════
Cash flow statement
Net cash flow from operating activities (28,110) (11,778)
─────── ───────
Cash flows from investing activities
Interest received 63 17
Purchase of fixed assets (1,204) -
─────── ───────
Cash provided by investing activities (1,141) 17
─────── ───────
Cash flows from financing activities
Repayment of borrowing - (942)
─────── ───────
Cash used in financing activities - (942)
─────── ───────
Increase/(decrease) in cash (29,251) (12,703)
═══════ ═══════
Movement in cash (29,251) (12,703)
Net cash at 1st February 29,272 41,975
─────── ───────
Net cash at 31st January 21 29,272
═══════ ═══════

Creation Theatre Ltd

Notes to the Accounts

for the period ended 31st January 2025

1. Accounting Policies

Basis of accounting

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 2015) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Creation Theatre Ltd meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notes.

At 31st January 2025, the charity had net liabilities of £19,264. The Trustees recognise that this indicates that there is a material uncertainty about the charity’s ability to continue as a going concern. The Trustees have supported management throughout the year to make significant operational changes, reducing the charity’s core costs and identifying new income streams which have resulted in the second half of the year returning a small surplus. This, coupled with robust financial projections, gives the Trustees confidence that the charity will be able to continue to operate as a going concern and for this reason the accounts are prepared on a going concern basis.

Incoming resources

Voluntary income including donations, gifts and legacies and grants that provide core funding or are of a general nature are recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Such income is only deferred when the donor specifies that the grant or donation must only be used in future accounting periods, or the donor has imposed conditions which must be met before the charity has unconditional entitlement.

Membership income is recognised evenly over the period of membership. As such, a proportion of each membership relating to future financial periods is deferred accordingly.

Investment income is recognised on a receivable basis.

Income from charitable activities include income received under contract or where entitlement to grant funding is subject to specific performance conditions is recognised as earned (as the related goods and services are provided). Grant income included in this category provides funding to support performance activities and is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability. Income is deferred when admission fees or performance related grants are received in advance of the performances or events to which they relate.

Fund accounting

Unrestricted funds consist of a general fund which the Trustees may use, for the furtherance of the objects of the Charity, at their discretion. Designated funds are unrestricted funds which have been allocated for future expenditure for a specific purpose by the Trustees. Restricted funds are subject to specific conditions imposed by the donor or by the terms of an appeal, these conditions being legally binding upon the Trustees.

Expenditure

Expenditure is recognised when a liability is incurred. Contractual arrangements and performance related grants are recognised as goods or services are supplied. Other grant payments are recognised when a constructive obligation arises that result in the payment being unavoidable.

Costs of generating funds are those costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds. Charitable activities include expenditure associated with staging of stage productions and educational programmes and include both the direct costs and support costs relating to these activities. Governance costs include those costs incurred in the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Creation Theatre Ltd

Notes to the Accounts (continued) for the period ended 31st January 2025

1. Accounting policies (continued)

Fixed assets and depreciation

All fixed assets are initially recorded at cost. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

Equipment - 20% reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Operating lease agreements

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

Irrecoverable VAT

All resources expended are classified under activity headings that aggregate all costs related to the category. Irrecoverable VAT is charged against this category of resources expended for which it was incurred.

Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount 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 term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

2. Legal status of the charity

The charity is a company limited by guarantee and has no share capital. The liability of each member in the event of winding up is limited to £1.

3. Voluntary income

Unrestricted
funds
£
Donations
42,917
Sponsorship
1,400
Grants -
General
64,863
_
109,180
═════		 Total
funds
2025
£
42,917
1,400
64,863
_
109,180
═════		 Total
funds
2024
£
22,199
500
45,500
_
68,199
═════

Creation Theatre Ltd

Notes to the Accounts (continued) for the period ended 31st January 2025

4. Activities for raising funds

Activities for raising funds
Total Total
Unrestricted funds funds
funds 2025 2024
£ £ £
Front of House – Bar, Merchandise etc. 5,618 5,618 13,337
═════ ═════ ═════

5. Investment income

Investment income
Total Total
Unrestricted funds funds
funds 2025 2024
£ £ £
Bank interest receivable 63 63 17
═════ ═════ ═════

6. Income from charitable activities

Income from charitable activities
Unrestricted
funds
£
Show income - non-educational
351,093
Education income
78,094
Friends scheme
6,833
_
436,020
═════		 Total
funds
2025
£
351,093
78,094
6,833
_
436,020
═════		 Total
funds
2024
£
302,890
67,821
4,752
_
375,463
═════

During the year, Friends scheme memberships were recognised at the point of receipt with no deferral of amounts relating to future years.

7. Costs of raising voluntary income

Total Total
Unrestricted funds funds
funds 2025 2024
£ £ £
Support costs (see note 11) 13,997 13,997 13,114
═════ ═════ ═════

Creation Theatre Ltd

Notes to the Accounts (continued) for the period ended 31st January 2025

8. Costs of activities for raising funds

Unrestricted
funds
£
Front of House - other
7,092
Fundraising costs
661
Support costs (see note 11)
13,997
_
21,750
═════		 Total
funds
2025
£
7,092
661
13,997
_
21,750
═════		 Total
funds
2024
£
6,112
592
13,114
_
19,818
═════

9. Costs of charitable activities

Unrestricted
funds
£
Wages and salaries including actors – production
306,590
Education – workshop leaders
20,949
Education costs
13,111
Production costs
226,251
Marketing and advertising
24,469
Credit card charges
22,353
Support costs (see note 11)
111,957
_
725,680
═════
Income tax
During the year the charity received theatre tax relief as follows:
Theatre tax relief receivable
- current year

- under/(over) provision in previous year


 Total
funds
2025
£
306,590
20,949
13,111
226,251
24,469
22,353
111,957
_
725,680
═════
2025
£
114,873
2,301
_
117,174
═════		 Total
funds
2024
£
248,074
17,303
13,167
78,750
30,155
19,174
104,901
_
511,524
═════
2024
£
69,868
2
_
69,870
═════

10. Income tax

Creation Theatre Ltd

Notes to the Accounts (continued)

for the period ended 31st January 2025

11. Support costs

Support costs are allocated to activities as follows:-

Costs of Costs of
generating activities for
voluntary generating Charitable
income funds activities Total Total
(note 7) (note 8) (note 9) 2025 2024
£ £ £ £ £
Wages and salaries - support 10,384 10,384 83,067 103,835 102,919
Other staff costs - - - - 936
Premises costs 826 826 6,610 8,262 7,744
Printing, postage and stationery 762 762 6,091 7,615 1,670
Other administration costs 553 553 4,428 5,534 4,045
Legal and professional fees 153 153 1,220 1,526 5,703
Audit and accountancy fees 620 620 4,955 6,195 7,200
Interest payable 570 570 4,561 5,701 56
Bank charges 30 30 237 297 108
Depreciation 99 99 788 986 745
13,997 13,997 111,957 139,951 131,126

12. Governance costs (included within support costs)

Unrestricted
funds
£
Audit / independent examiner fees
1,500
═════

Net income for the year
This is stated after charging:
Depreciation
Auditors’ / independent examiner’s remuneration - audit / independent exam
- other		 Total
funds
2025
£
1,500
═════
2025
£
986
1,500
4,696
_
7,182
═════		 Total
funds
2024
£
1,500
═════
2024
£
745
1,500
5,700
_
7,945
═════

13. Net income for the year

Creation Theatre Ltd

Notes to the Accounts (continued) for the period ended 31st January 2025

14. Staff costs and emoluments

Total staff costs were as follows:

Wages and salaries
Social security costs net of employer rebate & SMP
Pension costs		 2025
£
228,696
13,981
5,854
_
248,531
═════		 2024
£
306,590
9,802
5,495
_
321,887
═════

The above wages and salaries figures include payments made to freelance self-employed actors, stage managers, stage directors and stage designers.

Particulars of employees:

The average number of employees during the year, calculated on the basis of full-time equivalents, was as follows:-

2025 2024
No. No.
Number of staff 8 11
═════ ═════

No employee of the Charity received remuneration of more than £60,000 during this period.

Key management personnel received total remuneration of £45,417 (2024: £47,446).

15. Tangible fixed assets

Equipment
£
Cost
At 1st February 2024 20,609
Additions 1,204
_
At 31st January 2025 21,813
═════
Depreciation
At 1st February 2024 16,885
Charge for the year 986
_
At 31st January 2025 17,871
═════
Net book value
At 31st January 2025 3,942
═════
At 31st January 2024 3,724
═════

Creation Theatre Ltd

Notes to the Accounts (continued) for the period ended 31st January 2025

16. Debtors

Other debtors
Prepayments
Theatre Tax Relief claim		 2025
£
2,634
-
114,873
_
117,507
═════		 2024
£
6,500
19,613
69,870
_
95,983
═════

17. Creditors: amounts falling due within one year

Trade creditors
Accruals and deferred income
Other creditors		 2025
£
51,568
23,460
65,706
_
140,734
═════		 2024
£
34,081
20,790
-
_
54,871
═════

The deferred income included in accruals above amounts to £160 (2024: £15,165). £15,165 of deferred income brought forward was released in the year.

18. Funds – 2025

Balance at Balance at
1st February Incoming Outgoing Tax 31st January
2024 resources resources credit Transfers
2025
£ £ £ £ £ £
General funds 74,108 550,881 (761,427) 117,174 - (19,264)

Funds – 2024

Balance at Balance at
1st April Incoming Outgoing Tax 31st January
2023 resources resources credit Transfers
2024
£ £ £ £ £ £
General funds 86,680 457,016 (539,456) 69,868 - 74,108

Creation Theatre Ltd

Notes to the Accounts (continued) for the period ended 31st January 2025

19. Related party transactions

The Trustees received no remuneration during the year.

The trustees/directors have not been reimbursed for expenses.