Charlty Re8lstration No. 1134863
Company Registration No. Q6940032 {England and Wales)
THE LOFf THEATRE COMPANY
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023

THE LOFf THEATRE COMPANY
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr D Fletcher
Mrs S Moore
MrR Moore
Mrl Synge
Mr C O'Brlen
Ms V Betts
Ms V Holding
Ms L Frazier
(Appointed 30 May 20231
(Appointed 30 May 20231
(Appointed 30 May 20231
(Appointed 30 May 20231
Mr P Harrison
Ms M McDonough
Mr D Barclav
Charity number
1134863
Company number
06940032
Reglrtered office
Loft Theatre
Victoria Colonnade
LeaminBton Spa
Warwickshire
CV313AA
Independent examlner
Burgis & Bullock
23-25 Waterloo Place
Leamington Spa
Waryjickshire
CV32 SLA
Bankers
HSBC Bank plc
The Parade
PO Box 88
Leamington Spa
Warwick5hire
CV32 4BU
Solicitor5
Blythe Li8glns
Edmund House
Rugby Road
Leamington Spa
CV32 6EL

THE LOFT THEATRE COMPANY
LEGAL AND ADMINisfRATIVE INFORMATION
Investment advi50r5
Self Chartered Financial Planner5
6 Elm Court
Arden Street
Stratford Upon Avon
Wamickshire
CV37 6PA

THE LOFfTHEATRE COMPANY
CONTENTS
Page
Tru51ee5' report
Independent examiner's report
Statement of financial activities
Balance sheet
io-ii
Notes to the financial statements
12-25

THE LOFf THEATRE COMPANY
TRUSTEES, REpoKf {INCLUOING DIRECTORS, REPORTI
FOR THEPERIOD ENDED 31 DECEMBER 2023
The trustees present their report and accounts forthe slxteen month period ended 31st December 2023.
The accounts have been prepared in accordance wf(h the accounting policles set out in note I to the account5
and comply with the charity's governing document the Companies Act 2006 and "Accounting and Reporting by
Charities.. Statement of Recommended Prdctice applicable to charities preparing their accourit5 in accordance
with the Financial Reporting standard applicable in the UK and Republlc of I￿land IFRS 1021" las amended for
accounting periods commencing from I january 20191.
StNctureJ 8ovemance and management
The charity 15 a company limited by guèrantee and was incorporated on 22nd June 2009. The charity is governed
by its memorandum and articles of Association dated 22nd June 2009 as amended by special resolution dated
Ilth january 2010, spetial resolution dated 8th April 2018 and special re501ution dated 9th May 2022.
The 2022 AGM agreed to amend the Articles to remove the existing membership system and empower the
Volunteers at the Loft to attend and vote at all General and Extraordinary Meeting5 of the company.
The trustees, who are also the dirertors for the purpose of company law, and who served during the Period and
up to the date of signature of the financial statements were..
Member of
audit committee
Mr D Fletcher
MrRMoo
Ms S Moore
Mr C O'8rien
MrJSynge
Mr W Wllkinson
Mr P Daly-Dlckson
MST Lacey
Ms V Betts
Ms V Holding
Ms L Middleton
Mr D Barclay
Ms L Frazier
Yes
Yes
Yes
Ye5
(Resigned 30th May 20231
IRe5i8ned 30th May 20231
(Resigned 30th May 20231
(Resigned 30th May 20231
(Appointed 30th May 20231
(Appointed 30th May 20231
IAppointed 30th May 20231
IAppointed 301h May 20231
Mr P Harrison
Ms M McDonough

THE LOFT THEATRE COMPANY
TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORTI {CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
The board have appointeil an artlslic dlrecfor, Sue Moore, and a general manager, Robin Boyd, and delegated to
them limited powers to manage the day-to-day affairs of the company. The Loft Theatre Company is run almost
entirely by volunteers and provides opportunities for the community to join the Theatre and participate in the
management and presentatlon of high quality theatre. There are no barriers to participation and adrnission to
performances is open to the gener31 public and there are concessionary titket price schemes in operation.
The Trustees have assessed the major risk factor5 to which the charity is exposed and are 5ati5fied that Systems
are in place to mitigate the companVs exposure to risks.
Tru5tee5 are generally appointed at the AGM. The process of appointing and retiring trustees, Is set out In our
Articles 31 to 45, as amended by special re501ution dated Ilth january 2010, special resolution dated 8th April
2018 and special re501ution dated 9th May 2022.
None of the trustees has any beneficial interest in the company. All of the Iru5tees are members of the company
and guarantee to contrlbute £1 in the event of 3 winding up,
Objectives and activities
l. To advance education in the art5, primarify the performing arts, for the publlc benefit, in particular by:
al the production and promotion of theatre plays,.
bl encouraging and promoting the study and app￿tiatIOn of theatre and participating in making theatre; and
l encouraging and promoting appretiation and interest in performing arts, including music, film and dance.
2. To provide, or a55iSt in the provision of, facilities in the interests of social welfare. for recreation or other leisure
time occupation of the public with the object of improving their quality and conditions of life.
The trustees have paid due regard to guidance issued by the Charty Commission in deciding what activities the
charlty should undertake.
Achievements and perfomionce
Thi5 artistic report covers an extended period of 16 months, ending December 2023, reflecting the decision to
run our financial affairs over a calendar year in future.
Our Centenary year of 2022 included plays by Chekhov, Plnter and ShakesPea￿- all signffjicant playwrtghts in the
Loft's history and shakespea￿ being a fitting year end choice to a triumphant year of celebration.
2023 was a mix of dassic plays. contemporary works. a cult comedy, a Shakespeare and a musical. Details are
tsbulated below. We had to abandon the planned production of the musical 'Aryone Can Whistle, due to casting
difficulties over the year end and in tls place Staged a joyous produrtion of 'The World Goes Round,. An evening
of sonnets wa5 p￿ented as a readin8 in the Studio in May.
We also hosted a visiting company for 8 one night perforniance in January 2023 and August saw the second youth
theatie productlon by our associates Art5 Insight.

THE LOFT THEATRE COMPANY
TRUSTEES, REPORT (INCLUDING DIREcfoRS' REPORT} (CONTINUED)
FOR THEPERIOD ENDED 31 DECEMBER 2023
Across the perlod under review in thi5 report we re￿ived consistent artt5tlc prdlse for our work from critics and
audience alike and much endorsement surroundlng our ￿PutatIon for staging work of a professional standard.
In March 2023 our Produrtion Manager, Kim Green. left us after 11 yeats service. We were pleased to have 3
positive recruitment process and to engage an experrenced professional Production Manager, Amy Carroll to
replace her.
Since the reopening of the theatre post pandemic. growing audience numbers back to P￿ pandemic levels ha5
been a slow process. We needed to tske some action to address this and to build a younger audience.
Our decision to create trailer5 for our productions and to introduce sponsored Facebook ads to communlcate
them in targeted campaigns has achieved impressive results. We now have data which confirms that we are
gaining ticket sales through this approach and it has also resumed in a pleasing constant reduction in lowering the
age profile.
We continue to invest in the theatre infrastructure Including technical stage equipment and a continuin8
maintenance programme, Some of the rules we were obliged to introduce during the pandemic have been
retained and are now part of our routine systems and procedu￿5.
We were relieved to see the reopenlng of the approach to the front of the theatre followlng the completion of
the restoration to the listed Wictoria Colonnade. We then faced similar challen8es to the rear of the theatre with
the redevelopment of buildings surrounding us into a creatlve quarter. This programme was completed in the
autumn of 2023 and we are sLirting to build mutualty beneficial relationships wsth the new businesses occupying
the redeveloped space.
The Loft contlnues to attain a con5iStentEy high standard right acros5 all departments of the theatre. It Is the
consistency that is the key to the continuing high reputation it enjoys. We have a high deg￿e of Ente￿5t from
audrtionees, enabling us to cast larger cast play5 ènd welcome many new actors to our company. Over 100 new
and exisling actors have been fdst in the last 16 months. We believe this to be a combination of positive
reputatlon and the quality of the writin8 in our play choice. We are a strong companv.
Productions In the season
The Sea8uII
The Birthday Party
A Midsummer Night'5 Dream
Art
The Winteding
Wyrd Sisters
Anton Chekhov in a version by Jame5 Sucklin8
Harokl Pinter
William Shakespeare
Yasmina Rela translated by Christopher Hampton
Jez ButteTWOrth
Terry Protchett adapted by Stephen Brlggs
EF
Consent
8oudica
The Rise and Fall of Little Voice
sublime Sondhelm
A Delicate Balance
Macbeth
The World Goes 'Round
Nina Raine
Tristsn Bema
Jim Cartwrrght
Concert
Edward Albee
William Shèkespeare
John Kander and Fred Ebb

THE LOFT THEATRE COMPANY
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORTI (CONTINUED)
FOR THEPERIOD ENDED 31 DECEMBER 2023
Financial revlew
As stated in the Artistic report, In 2022 It was declded to align the financial year with the theatrical season, i.e. on
December 31st So both periods end on 31$¢ December.
This 16-month period contained 12 full-hou5e, full-run plays compared wlth 9 in the previous 12 month year.
As the financial dynamics pivot around the number of shows. this one-third additional artivity should be borne in
mind when looking at comparative figures.
Summary of financlal perlomiance
The operating results for the year to 31st December 2023 show a surplus of £12,137 compared with a defieit of
£4.053 in 21122. There was also an unrealised gain of £22.966 on our investment portfolio, bringing the increase
in funds for the period to £35,103.
114COME: Ticket sales for main house shows rose by 50% to £155,729 for the 16 months resulting from the
additional three shows, a modest ticket prlce Increase and increased attendances per show. Bar sales and profrts
rose in turn by a slmilar percentage, a150 benefittinB from an overall increase in margin following a mid-perlod
prrce intrea5e.
Other income: Investment income Idue to resilience of dlvldend reteipts and iNte￿st) increased to £20,458.
Income from lettlngs to the youth theatre contributed £8,437 during the period.
OVERHEADS: Total overheads were £182,060 12021-22 £136,903). Pro-rata, approximately what would be
expected for the 16 Iv$ 12 monthl period. The primary trause of the utility costs increase, was in energy. Although
contracted at fixed rates in July 2022 for 3 year5, it was at a significantly higher level than in 2021-22 (due to the
world oil and gas incTea5e5 earlier in 20221. We trust these costs WTII be stable at the next fixed renewal, but it
cannot be guaranteed. A partial oftset W?5 the non-recurrence of signrficanl repair works carried out in the prior
year. Marketing outlay was also generally lower.
CAPITAL SPENDING: lrnproved external lighting was ordered to enhance the riverside approach, at a cost of
£5,111.
CASHFLOW . Cash balances at 315t December stood at £72,52912022 £34,254). This largely reflects the surplus
and advance net receipts for next year's shows.
INVESTMENTS- A5 indicated above, investments showed an incTea5ed valuation as at the period end of £22,966
compared with August 2022. Since inception in June 2019 the investments, in spite of market volatility, have
made an overall return lincluding income) of 23.5%.
To enable members to quickly see and appreciate the varyin8 factors and activities that contribute to our annual
outturn in financial terms, the following pa8e shows a brief summary statement of income and expenditure for
the 16 months ending 31st December 2023. For the full accounting under present Company and Charity
requirements. refer to pages 8-26.
Investment5 Strate
and 3rtions taken in the
ear
The investment strategy is to continue to seek 3 regular stream of annual income to SYPPOrt our activitles,
without materially impairing the long-temi value of the investments. The composftlon of the investment portfolio
has not changed in the year and is seen as a satisfactory basis for this Strategy.

THE LOFT THEATRE COMPANY
TRUSfEES' REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Reserves Poli
The tharitie5 total reserve5 at the year-end were £769,543131 August 2022: £734,440). This includes investment
reserves of £557,894 and capital funds of £142,859 (being the net book value of the fixed assets).
The investment reserves are held in an investment portfolio designed to provide an income stream for use in the
charity's general activities. whilst maintaining a capital base that can be used for the future enhancement and
preservation of the charitls facilities.
In view of the Charity's responsibilitles as an employer and the inherent uncertainties over future income
sources, the Trustees agree that it is appropriate to maintain unrestricted I free reserves equivalent to not less
than half of the past year's expenditure.
31 December
2023
31 August
2022
Income from Loft Productions
Costs of Loft Production5
Net Contribution of Loft Production5
155,729
28,137
103,323
24,388
127,592
78.935
Income from Visitor Productions
Costs of Visitor Productions
Net Contribution of Visitor Productions
12,843
8,298
10,965
9,063
4,545
1.902
Income from bar trading
Costs of good sold
Gross profit
Expenses
Net contribution of bar trading
54,337
21,760
32,577
975
34,138
12,545
21,593
2,436
31.602
19.157
Income from other trading
Net Contribution of other Trading
8,437
6,883
8,437
6,883
Sale of Programmes (Net of c05tsl
Subscriptions
Government Grants
Donation5 and Sundry Income
Investment Income
Bank Interest
15521
50
12,500
1,618
12,357
1,562
19,745
713
Net Incoming resources
194,197
132,850

THE LOFT THEATRE COMPANY
TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
House Costs..
Staff costs
43,191
40,348
17,632
8.307
31,937
20,673
21,038
6,389
Maintenance
Insurance
Total house Costs
109,478
80,037
Depreciation
Marketlng & Box office costs
21,793
35,873
17,955
28,557
Administration..
Telephone
Software and IT
Other
Audit & Accountancy fees
Investment mana8ement fee5
2,177
5,733
2.687
2,480
1,839
1,135
3,637
2,290
1,800
1,492
Total admin costs
14,916
10,354
Outgolng resources
182,060
I36.￿3
Surplu5llDeficitl on ongoing activities
12,137
14,0531
Unrealised gain on investments
Realised gain on investments
22,966
127,7511
Net movement in funds
35.103
131,8041
The trustees, report was approved by the Board of Trustees.
Mrj Synge
02 Aug 2024
Date..

THE LOFT THEATRE COMPANY
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE LOFf THEATRE COMPANY
I report to the trustees on my examination of the financial statements of The Loft Theatre Company Ithe
charityl for the Period ended 31 December 2023.
Responsibilities and basis of report
As the trustees of the charity land also its direetors for the purposes of company lawl you are
responsible for the preparation ol the flnancial statement5 in accordance with the requirements of the
Companies Att 2006 lihe 2CK)6 Act).
Having satisfied myself that the financial statements of the charity 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 the charity'5 financial Statements carried out under section 145 of the Charities Art 2011
Ithe 2011 Artl. In carrying out my examination I have followed all the applicable Dirertion5 given by the
Charity Commission under section 14515llbl of the 2011 Act.
Independent examiner's Statement
Since the charity'5 8r05s income exceeded £250,000 your examiner must be a member of a body listed in
section 145 of the 2011 Art. I confim) that l am qualified to undertake the examination because l am a
member of ACCA. 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 respert:
accounting records were not kept in respecl of the chartty as required by section 386 of the 2006
Act,. or
the flnancial statements do not accord with those records,. or
the financial statements do not comply wrth the accounting requirements of Section 396 of the
2006 Act other than any ￿quirement that the accounts give a true and fair view which is not a
matter considered a5 part of an Sndependent examination.. or
the financial statements have not been prepared in accordance with the methods and principle5 of
the Statement of Recommended Practice for accounting and reporting by charr(ies applicable to
charities preparing their accounts in accordance with the Financial Reporting Standard applicable in
the UK and Republic of Ireland IFRS 1021.
I have no concerns and have come acr055 no other matters in connectlon with the examination to which
attention should be drawn in this report in order to enable a proper understandinE of the financial
statements to be reached.
Wende Hubbard FCCA
Burgis & Bullock
23-25 Waterloo Place
Leamington Spa
Warwickshl
CV32 SLA
05 Aug 2024
Dated..

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THE LOFf THEATRE COMPANY
BALANCE SHEET
ASAT31 DECEMBER 2023
2023
2022
Notes
Fixed assets
Tangible a55ets
Investments
14
15
142,859
557,894
159,540
535,567
700,753
695,107
Current assets
Stocks
Debtors
Cash at bank and in hand
16
17
2,345
17,842
72,529
1.587
19.634
34,254
92,716
55,475
Cfeditors: amounts lalling due wlihin
one year
18
23,926
16,142
Net current a55ets
68,790
39,333
Totsl assets less currert liabilities
769,543
734,440
The lund5 of the charity
ijnrestricted fund5 - general
Unrestricted funds - Investment
Unrestricted- Capital
68,790
557,894
142,859
39,333
535,567
159,540
20
769,543
734,440
10-

THE LOFT THEATRE COMPANY
BALANCE SHEET ICONTINUEDI
ASAT31 DECEMBER 2023
The company is entitled to the exemption from the audlt requlrement contained in section 477 of the
Companies Acl 2(X)6, for the Period ended 31 December 2023.
The directo￿ acknowledge their responsibilities for complylng wlth the requirement5 of the Companies Act
2006 with respect to accountin8 records and the preparation Df financial statements.
The member5 have not required the company to obtain an audit of it5 financial statements for the Period in
question in accordance with sèction 476.
These finantial statements have been prepared in accordance with the provisions applicable to companies
subject to the small companies regime.
02 Aug 2024
The financial statements were approved by the trustees on ..........
Mrj Synge
Trustee
Company registration number 0694W32 IEngland and Wales)
11

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
Accountin8 policies
Charity information
The Loft Theatre Company is a private charitable company limited by guarantee incorporated In
ngland and Wales. The re8lStered office is Vlctori8 Colonade, Leamington Spa, CV313AA.
1.1 Reportin8 period
The prior and first ￿porting period of the company was extended to a 16 month period ended 31
December 2023. The company changed its year end in order to align their financial year wlth the
standard calendar year. The amounts in the financial statements (including the related note51 are not
entirely comparable.
1.2 Accountlng convention
The financial statements have been prepared in accordance with the charity's mernorandum and
article5 of association, the Companies Act 2C()6 and "Accounting and Reporting by Charities.. Statement
of Recommended Practice ISORPI appllcable to charitles preparlng iheir accounts in accordante with
the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" leffective from
I january 20191. The charity is a Public Benefit Entity as defined by FRS 102.
The financial statement5 are prepared In sterling, which Is the funrtional currency of the charity.
Monetary amounts in these financial statement5 are rounded to the neère5t £.
The financial statements have been prepared under the historical c05t convention. modified to include
certain financial instrurnents at fair value. The principal accounting policies adopted are set out below.
1.3 Going concern
At the time of approving the financial statements. the trustee5 have a reasonable expectation that the
charity has adequate resources to continue Sn the fo￿Seeable future. Based on the current information
available to them the tru5tee5' expectations of the foreseeable future remain the same and thus they
continue to adopt the going concern basis of accounting in preparing the financial statements.
1.4 Charitable funds
General funds are available for use at the discretion of the trustees In furtherance of their charitable
objectives.
1.5 Incomin8 resourtes
Income Is recognised when the charity is legally entitled to it after any performance conditions have
been met, the amounts can be measured reliably, and it Is probable that income will be received.
Cash don￿lon$ a￿ recogni5ed on receipt. Other donations are recognised once the charity has been
notified of the donation. unless performance conditions require deferral of the amount. Income tax
recoverable in relation to donations received under Gift Aid is recognise(l at the time of the donation.
Income received in advance of theatrical performances or provision of other specifled servlces Is
deferred until performances are glven to whlch the Income refers.
12

THE LOFf THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS Ic0￿1NUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Accounting poltcies
(Continued)
Grant income is recognised when the charity Is legally entitled to it after any performance conditions
have been mel, the amounts can be measured reliably. and it is probable that income will be received.
Income of the sales of goods and seNices is measured at the fair value of the consideration ￿ceiVed or
receivable in the normal course of bu5ine55.
1.6 Resources expended
Expenditure is recognised once there is o legal or Constructive obllgatlon to trnnsfer economic benefrt
to a third party, it is probable that a transfer of economic benefit5 will be required in settlement, and
the amount of the obligation can be measured reliably.
Expenditure is classified by acttvity. The costs of each activity are made up of the total of direct costs
and shared costs, including support costs involvetl in undertakinB each activity. Direct costs attributable
to a single actlvlty are allocated directly to that activity. Shared cost5 which contribute to more than
one artivity and support costs which are not attributable to a single activity are apportioned between
those activities on a basis consistent with the use of resources. Central staff costs are allocated on the
basis of time spent, and deprecSatlon charges are allocated on the portion of the as5et'5 Use.
All expenditure is accounted for on an accruals basis and has been classifled under headlngs that
aggregate all cost5 related to that category.
1.7 Tan8ible fixed asset5
Tangible fixed assets are initially measured at C05t and subsequentty measured at cost or valuation. net
of depreciation and any impairment losses.
Depretiation is recognised so as to write off the cost or valuation of a55ets less their residual values
over their useful lives on the following bases..
Land and buildings
Specialist stage equipment
Fixture5, fittings & equipment
Freehold Improvemen15
2% straight line
25% Straight line
15% reducin8 balance
IO% straight line
The gain or Ioss arising on the disposal of an asset is determined as the dtfference between the sale
proceeds and the carryins value of the asset, and is recognised in the statement of financial 3ctivitles.
1.8 Fixed asset investments
Fixed asset investments are initially measured at transaction pTice excluding transaerion cost5, and are
subsequently measured at fair value at each reportin8 date. Changes in fair value are recognised in net
Incomellexpenditurel for the year. Transartion costs are expensed as incurred.
13-

THE LOFfTHEATRE COMPANY
NOTES TO THE FINANCIAL sfATEMENTS {CONTINUEDI
FOR THEPERIOD ENDED 31 DECEMBER 2023
Accountin8 policies
(Continued)
1.9 Impalrment of fixed assets
At each reporting end date, the charlty reviews the carrying amounts of its tangible assets to determine
whether there is any indication that those assets have suffered an impairment loss. If any such
indication exi5t5. the recoverable amount of the asset is estimated in order to determine the extenl of
the impairment loss lif anyl.
1.10 Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. C05t
comprises direct materials and, where applicable, direct labour costs and those overhead5 that have
been incurred in bringing the stocks to their present location and condition. Items held for distribution
at no or nominal considerdtion are measured the lower of replacement cost and cost.
Net realisable value Is the estimated selling price less all estimated costs of completion and costs to be
incurred in marketing* selling and distribution.
1.11 Cash ond Cash equlvalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term
liquid investments with original maturitles of three months or less. and bank overdrafts. Bank
overdrafts are shown within borrowings in current liabilities.
1.12 Financial instruments
The charty has elected to apply the provisions of Section 11 '8asic Flnancial Instruments, and Section
12 '0ther Financial Instruments Issue5, of FRS 102 to all of its financial instrument5.
Financial instruments are recognised in the charity'5 balance Sheet when the chartty becomes party to
the contractual provisions of the instrument.
Financial assets and liabillt¢es are offtet, wlth ihe net amounts presented in the financial statements.
when there is a legally enforceable right to set off the recognised amounts and there is an intention to
settle on a net basis or to realise the asset and settle the liabllrty slmultaneously.
8csicfinanclal assets
Basic financial assets, which include debtors and cash and bank balances. are inttially measured at
transaction price including transaction costs and are 5ub5equently carried at amortised c05t using the
effective interest method unless the arrangement constitutes a financing transaction, where the
transaction Is measure(l ai the prèsent value of the future receipts dÉscounted at a market rate of
interest. Financial assets classified as receivable within one year are not amort15ed.
14-

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THEPERIOD ENDED 31 DECEMBER 2023
Accounting policies
{Continuedl
Bosicfiftondolllobilitle5
Basic f1nancial liabilities, including creditors and bank loan5 are initially recognised at transaction prl
unless the arrangement con5titute5 a financing transartion, Whe￿ the debt instrument is measured at
the present value of the future payments discounted at a market rate of interest. Financial liabilities
classified as payable within one year are not amortlsed.
Debt Instruments a￿ subsequently carried at amortised cost, Lbsing the effective interest rdte method.
Trade creditor5 a￿ obllgations to pay for goods or services that have been acquired in the ordinary
course of operations from suppliers. Amounts payable are classified as cUr￿￿t liabililies if payment is
due within one year or le55. If not, they are presented as non-current Ilabllitles. Trade creditors are
recogni5ed initially at transaction price and subsequently measured at arnortised cosl using the
effective interest method.
Derecoqnitlon offinancial liabilities
Financial liabilities are derecognised when the charity'5 contrdctual obligation5 expire or are discharged
or cancelled.
1.13 Employee benefits
The cost of any unused holiday entitlement 15 ￿cogniSed in the period in which the employee's services
are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably
committèd to terminate the ernployment of an employee or to provide termination benefits.
1.14 Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense a5 they fall
due.
15

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Oonatians, Le8acie5 and Grants
General
funds
2023
Total
2022
Donations and gifts
Government grant
1,562
957
12,500
1,562
13,457
Government grant income recelved was the 'Business Grant Fund Schemes, in ￿latIon to Coronaviru5
Grant Funding provided by the Governrnenl.
Charltable artivities
2023
2022
Theatre Activitie5
Subscriptions
Programme sales
168,643
114,288
50
778
168,643
115,116
Income from othertrading actiwties
General
fund5
2023
General
funds
2022
Letting and licensing arrangements
8,437
6,882
16

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Investments
General Investment
funds
funds
2023
2023
Total
General Investment
fund5
fund5
2022
2022
Total
2023
2022
Income from listed
investment5
18.546
713
933
267
19,479
980
12,335
12,335
26
Interest receivable
22
19,259
1,200
20,459
12,339
22
12,361
Other income
Genernl
funds
2023
General
funds
2022
Bar Income
Caterlng Income
Other
54,337
34,452
32
658
54.337
35.142
17-

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Ralsin8 funds
General Investment
funds
fun(ts
Total
General Investrnent
funds
funds
Total
2023
2023
2023
2022
2022
2022
Advert15in8
Bar and caterin8 COStS
Investment
mana8ement fees
17,642
21,760
17,642
21,760
17,032
12,890
17,032
12,890
1,839
1,839
1,492
1,492
39.402
1,839
41,241
29,922
1,492
31,414
Charftable arti¥tties
General
General
2022
2023
Charitable activities I Including production c05t51
130,920
102,728
Share of support costs (see note 91
Share of Bovernance cost5 (see note 9}
64.984
4,156
49.892
2.977
200,060
155,597
Stage includes programme costs of nil for the year12022: £1,3301.
18-

THE LOFf THEATRE COMPANY
NOTES TOTHE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
Support costs
Support Governance
costs
2023
Support Governance
C05t5
costs
2022
Staff costs
Depretiation
43.191
21.793
43,191
21,793
31,937
17,955
31,937
17,955
Independent exam fees
LeEal and professional
Othèr
2,480
68
1.608
2,480
68
1,608
1.800
48
1,800
48
1,129
1,129
64.984
4,156
69.140
49,892
2,977
52,869
Analysed between
Charitable activities
64,984
4,156
69,140
49,892
2,977
52,869
10 Trustees
None of the trustee5 lor any person5 connected with them) received any remuneration in the year.
Trustees were due to be reimbursed a total of £4,51812022.. £2951 wtth respert to reimbursewnent of
produrtion fee5 and administrative expenses incurred in the year.
19-

THE LOFT THEATRE COMPANY
NOTES TOTHE FINANCIAL STATEMENTS {CONTINUEDI
FOR THE PERIOD ENDED 31 DECEMBER 2023
11 Employees
Number of employees
The average monthly number of employees during the Period was:
2023
Number
2022
Number
Employment costs
2023
2022
Wages and salaries
Pension costs
42,141
I,oso
31,132
805
43,191
31.937
12 Net 8ain51{105sesl on Investments
2023
2022
Revaluation of Investments
22,966
127,7511
13 Taxation
The charty is exempt from taxation on its activitie5 because all its income is applled for charitable
purpose5.
-20-

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THEPERIOD ENDED 31 DECEM8ER 2023
14 Tanglble flxed assets
Laryj Sp￿alIst stale FiXtU￿$,flitir
Ftsehtsbj
bulldln
equipmeTrt
Eqyiprnenl ImprovEmEnts
Cost
At I September 2022
Additions
126,428
12.497
140,106
90,924
5,112
369,955
5.112
At 31 December 2023
126,428
12,497
140,106
96,036
375,067
Depreciation and imp•irnient
At I September 2022
Depreciation charged in the Period
36,242
3,363
11,128
774
115,631
4,883
47,414
12.773
210,415
21,793
At 31 December 2023
39,605
11,902
120,514
60,187
232,208
Carrylng amount
At 31 December 2023
86.823
595
19,592
35,849
142.859
At 31 August 2022
90,186
1,369
24,475
43,510
159,540
15 Fixed asset investments
Cash in
portfolio
Total
investments
Cost or ￿luatIOn
At I September 2022
Valuation changes
Investment management fees
Interest on cash deposits
530,013
22,966
5,554
933
11,8391
267
535.567
23,899
11,8391
267
At 31 December 2023
552,979
4,915
557,894
Carryin8 amount
At 31 December 2023
552,979
4,915
557,894
At 31 August 2022
530,013
5,554
535,567
21

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE PERIOD ENDED 31 DECEM8ER 2023
15 Fixed asset investments
Icontinuedl
Fixed asset In￿StMentS revalued
Listed investments have been revalued at their market value at the year end. The historical cost of
these investments was £4￿,149.
16 Stocks
2023
2022
Finished good5 and goods for resale
2,345
1,587
17 Debtors
2023
2022
Amounts falling due within one year..
Trade debtors
Prepayments and accrued income
366
17,476
1,505
18,129
17,842
19,634
18 Creditors: amounts lalllng due wlthln one year
2023
2022
Notes
Deferred income
Trade creditors
Other credilors
Accruals
19
6,173
8.619
1,784
7,350
4,333
7,974
1.183
2.652
23,926
16,142
-22-

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED}
FOR THE PERIOD ENDED 31 DECEMBER 2023
19 Deferred income
2023
2022
Deferred income in relation to forward
ticket sales
6,173
4,333
Deferred income relates to licket income received in advance for periods in the following year. A
reconciliation of the deferred income balance a5 follows.. Brought Forward £4,333, Released during the
year £162,687, Invoiced £168,860, Balance Carried Forward £6.173.
20 Unrestrirted fund5- Investment
These are unrestritted funds which are material to the charity's artivitie5.
Atl
September
2022
In¢omin8
resource5
Resources
expended
Transfers
Gains and
1055es
At31
Oecember
2023
Investment
fund
Capital fund
535,567
159,540
1,200
11,8391
22,966
557,894
142,859
116,6811
695,107
1,2
11,8391
116,6811
22,966
700,753
Previous year:
Intomin8
resources
Resources
expended
Transfers
Gains and At 31 August
losses
2022
September
2021
Investment
fund
Capital fund
564,788
177,495
22
11,4921
127,7511
535,567
159,540
117,9551
742.283
22
11,4921
117,9551
127,7511
695,107
-23-

Lft
mm
Ln ID

THE LOFT THEATRE COMPANY
NOTES TO THE FINANCIAL STATEMEfrifs (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
22 Transfers between fund5
During the year. a transfer of £16,681 was made from capital funds to the general funds to represent
the movement in the net book value of its current fixed assets.
23 Related party transactions
Expenditure of £3,08212022.' nill was paid to Frazier Wine Merchants Ltd in the period, a company with
whSch Ms L Frazier is a related party. At year end. £nil12022: nil) was outstanding.
-25-