2022-06-30-accounts

Company registered number: 05156719 Charity registered number:1144126

Report of the Trustees and

Financial Statements for the Year Ended 30 June 2022

for

Titchfield Festival Theatre Productions Limited

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED

CONTENTS

	Page
Company Information	3
Our Chairman's Report	4
Trustees' Report (including Strategic Report)	5-16
	17- 20
Independent Auditor's Report
Statement of Financial Activities	21
Balance Sheet	22
Notes to Financials	23-24
Assets	25
Income & Expenditure report	26-29

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Company registered number: 05156719 Charity registered number:1144126

COMPANY INFORMATION

Directors and Trustees (All Directors of the Company are also members of the Company)

Kevin Fraser - Chair Adam Feeley Alan Causer Alan James Kay Fraser (Co Secretary)

Executive Team

Artistic Director Kevin Fraser Deputy Artistic Sarah Harvey Director Senior Management Team Emma Jeans The Stage Manager Sarah Harvey Marketing & Communications Scott Myers Technical Director Stuart Hibbard Director of Education and Learning

Auditor

Registered Office

Selwyn Miles & Company 8[th] Floor, Elizabeth House, 54-58 High Street, Edgeware, Middlesex, HA8 7EJ The Lodge The Great Barn Mill lane, Titchfield PO15 5RB

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED 30[th] June 2022

Chairman's Report To The Year Ended 30[th] JUNE 2022

No one would have believed after the awfull year of 2020 that COVID would not only linger on but get worse in 2021! By May 2021 lockdown had started to be lifted and TFT productions were well placed to take advantage of being one of the few production companies linked to a producing house.

I am pleased to report that in all sectors from hires, to brought in shows to, childrens touring shows recovery has been swift and dramatic. Our donation schemes have reaped rewards too . It is therefore an incredible achievement to report that turnover excluding loans has increased by over 50%. Costs have been held at covid levels and overall net incoming resources for the year have increased by nearly 5 fold.

The company once again grew it’s headcount to 10 full time technicians and employees and 4 part time employees including one apprentice. This gives the company a firm grounding in technical staff as well as stage mangement personnel. This will ensure our sister company Titchfield Festival Theatre Limited will have the constant technical expertise they require for productions.

We continue to educate and inform local groups about the historical importance of The Great Barn, Henry V, The Earls of Southampton and of course our raison d'etre William Shakespeare and I am pleased that the number of talks we gave to local groups increased considerable due to the demise of the pandemic.

The company has expanded it's storage facility and now has dedicated storage for furniture and sets as well as another dedicated warehouse for small props and wardrobe. The company is actively looking for a further storage area for staging, generator and orchestra covering.

The work of TFT productions has further increased with the formation of the South Coast Symphonia with TFT prods called upon it to produce the external concerts.

We are enormously grateful for the support of our volunteers and staff, and to our many corporate partners and private donors. their vital support enables us to continue to be creatively ambitious and deliver our charitable, artistic and educational programmes to such high levels.

Kevin Fraser Chair of Trustees & Artistic Director 3[rd] November 2022

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED 30[th] June 2022

Trustee's Annual Report To The Year Ended 30[th] JUNE 2022

TRUSTEE'S REPORT

This Is the Report of the Board of Titchfield Festival Theatre Productions Limited (the "Theatre" or the "Company" or "TFT Prods'') for the year ended 30[th] June 2022.

It Includes the Strategic Report that a Charitable Company such as Titchfield Festival Theatre Productions Limited Is required to prepare under the Companies Act 2006 (Strategic Report and Directors' Report).

The Directors of the Company are Its Trustees under charity law and throughout this report are collectively referred to as "the Trustees".

STRATEGIC REPORT

Introduction

This report reflects on the financial year July 2021 to June 2022,

The Executive Team together with the Trustees continue to pursue the Company's programme and charitable objectives supported by a strategy of ensuring financial viability, principally through their annual Shakespeare festival productions and the hire of properties, costumes, scenery and furniture. Financial contributors Include secondary spend by audiences, development Income from our supporters and sponsors, and a return on our green sustainability policy. The Strategic plan for Titchfield Festival Theatre Productions Limited has been as a support company to Titchfield Festival Theatre Limited.(TFT)

This has meant that Titchfield Festival Theatre Productions Limited has previously been involved in the arrangement of weddings, Shakespeare Festival and other off site productions. This has continued over the past year with the major addition that Titchfield Festival Theatre Productions Limited has become a involved in touring of Childrens Shows developed at TFT into local schools and the development of touring dates for South Coast Symphonia.

The Trustees have now agreed a new post covid strategic 5 year business plan which integrates with that of Titchfield Festival theatre's plan. This will see Titchfield Festival Theatre Productions Limited as a support company to Tiitchfield Festival Theatre Limited in the following areas, weddings, Shakespeare Festival, additional technical support, additional storage and set construction roles. Increased hires of all venues both corporate and private. The touring of shows outside TFT’s main venues.

The company will also employ all technical and venue staff to ensure that Titchfield Festival Theatre Limited functions at capacity. This will also include an outreach element.

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Aims, Mission and Objectives

The Company's objects are set out In Its governing instrument, Its Memorandum and Articles of Association.

The Company generates public benefit by producing, promoting artistic events of cultural value to the community, balanced by a socially Inclusive education learning programme with high attendance from geographic area stretching along the southcoast

and northward towards London our demographic spread is equally as impressive.

TFT productions is rooted firmly In Its community, It hosts one of the largest Shakespeare Festivals In the country and offers a vibrant and enriching year-round participatory programme for all, In addition the youth theatre caters for an increasing number of young actors and technicians. promulagting the belief now backed by clear historical thinking that Shakespeare lived, worked and loved in Titchfield.

The strategic objectives in support of this mission are to be:

• Act as a support company to Titchfield Festival Theatre Limited - with professional

• technicians, stage management and

• fundraising expertise

• At the heart of the community

• At the forefront of European Community Theatre

• Environmentally sustainable

• Constantly monitoring and evaluating progress.

Artistic Policy

This will be largely governed by the policy adopted by Titchfield Festival Theatre Limited. Since Titchfield Festival Theatre Productions Limited will support that policy by recruiting and employing professional, stage management and other professional resources. Titchfield Festival Theatre Productions Limited seeks out innovative and exciting ways to explore newer forms of theatre, alongside a traditional repertoire. We also strive to ensure we have unique and exciting venues in which to work.

Our artistic policy Is committed to supporting young people In developing creative, artistic, personal and social skills alongside a life-long enjoyment and appreciation of the arts. Our ambition Is to promote inclusivity, accessibility and diversity and to ensure rich opportunities for all children and young people, regardless of age, culture and social background, to feel Inspired, challenged and excited by the arts.

Core Artistic Programme

The Core Programme, which lies at the heart of the overall artistic policy, will continue to deliver two separate seasons annually: a summer Shakespeare Festival produced by Titchfield Festival Theatre Productions Limited and with invited company's including Titchfield Youth Theatre (TYT) and TYA ( Titchfield Youth Associates) and support for an all year round season of work produced by Titchfield Festival Theatre Limited. This will include a season of

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new exciting works either commissioned specifically for the season or from plays submitted by local writers.

The Shakespeare Season which we will look to grow throughout the years will centre round 4 Shakespeare works produced in the Great Barn by our own company. This will be supplemented by productions from TYT and also from works produced by other companies and brought into the over all umbrella of the 'Festival' A further season of concerts based at Titchfield Abbey and next year at Fort Brockhurst will see TFT Prods back a 40 piece professional orchestra, The South Coast Symphonia

Overview of 2020/2021 Seasons

Shakespeare Festival - The Great Barn

Despite Covid the company managed to expand the Shakespeare Festival Romeo & Juliet

Titus Andronicus

Emilia – an amateur premier about Emilia Bassano The dark lady of the Sonnets As You Like IT – Macbeth - Havant & South Downs College Juliet and Romeo on the Run - TYT

All of the productions were received well and patron numbers overall increased by over 32% on last year. Bearing in mind that last year these were up on the previous year since we were one of the few theatre companies able to open.

Casting proved less of a problem this year with increased numbers of actors wishing to take part and we hope this will give a sound basis for casting next years shows.

Events

Titchfield Festival Theatre Productions Limited will also take control of ensuring that all events , corporate, private and in house are run effectively and smoothly with full technical support.The company will control the marketing for these. The number of companies hiring facilities increased by 100% as did companies wishing to do a Box Office split with us in the period under review.

The Community

Community interest in the barn is always strong. The gym that started during COVID has continued to work and we have gained valuable income from this. Our out reach team of actors visited 6 schools with this number set to rise in the new financial year.

Participation

Participation in the company started again this year with volunteers making props and costumes. 12 students from various FE sites were working with us on their work experience week.

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Other Operational and Capital Developments

Titchfield Festival Theatre Productions Limited ongoing programme of Investment and development continues, as part of renewing and updating its site and auditoria. In relation to capital investment this year, we note the following:-

Investment at the barn amounted to over 120k plus the technical costs for replacement sound and light equipment

This year saw the company taking over the handling of the hire of sets, furniture props, small properties and wardrobe hire. Moving all furniture and scenery to a purpose built warehouse. A further warehouse came on stream in 2020 for costumes and properties. Both warehouses are open to the public for private hires as well as to other theatre companies. This was all curtailed this year again due to the COVID emergency

Financial Review

The net surplus for the year after depreciation ended up at £118120 (last year £26420). Income increased by 61% (once the loan facility is deducted from last year to show sheer income) to £803,814 (last year less loan amounts was £494,419)

This is an amazing achievement considering the prevailing economic climate and the latent uncertainties over the return of covid. The company managed to over achieve on it’s projected budget although donations to various groups including to Titchfield Festival theatre Limited had to be greatly reduced from pre covid years. It is envisaged that turnover will increase again next year with a buoyant donations market underpinning new sales areas such as our Outreach programme to schools and the SCS concerts. Last year the company took advantage of a CIBLS loan and for the first time in 15 years the company took on borrowing of £137,000. We are please to report that we are on track to have this fully redeemed by August 2023. Depreciation was in line with the previous year, bearing in mind the increase in assets and also the increase in some areas of depreciation percentages, at £109,981

The cost of raising funds was in line with last year to £572, 562. ( excluding depreciation and donations) The overall increase can be accounted for by the interest payments being made back for our CIBLS loan.This was a sterling effort considering the increased premises costs and our increased headcount. Last year excluding depreciation and donations out- £521071,

Principal Financial Risks and Financial Management strategy

The Company's operations expose it to a variety of financial risks and challenges. It has In place an ongoing Internal risk management programme that Is also reviewed annually by the Board which seeks to Identify areas of risk and to Implement controls and procedures that limit the Company's exposure to possible or remote risks and events.

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The principal financial risks revolve around the failure of hirers to pay and the lack of donations, for whatever reason, and the potentially adverse effect on both profitability and cash flow.

This Is particularly relevant in this support business where every year there are a series of new events where payment is spread and cancellation is a risk. Costs in order to attract even more events, and employment support are committed each year. Other risks may revolve around bad weather particularly when our concert seasons start next year. Suitable insurance may help defer costs but this is expensive and often difficult to access.

The Trustees and Executive Team are fully aware of the risk profile of the business and, together with the Senior Management, continue to plan the artistic programme to mitigate and monitor Box Office performance closely. The Financial Management Strategy for the Company covering both Investments and borrowing is approved each financial year by the Trustees at their annual Financial Strategy meeting.

The current Financial Management Strategy Is designed to take account of the following:

• the short-term cash needs of the Company

• the requirement to ring-fence funds for expenditure relating

• the need to hold funds for contingencies, Including those

• funds required for capital expenditure

• expenditure for designated purposes to fulfil charitable or

• planning the maturity of longer-term deposits In line with cash flow forecasts.

The Trustees require that funds are invested prudently and, as a priority, have regard to the security and liquidity of the Company's Investments rather than seeking the highest rate of return.

Reserves Policy

Titchfield Festival Theatre Productions Limited maintains significant accounting and financial reserves to safeguard Its financial position and provide a buffer against certain, possible eventualities such as:

1. potential Income shortfalls, In particularto cancellations

2. significant unbudgeted costs

3. funds required for essential capital replacement

4. funds required for dilapidations and other building repairs

and to enable the Company to take advantage of capital and operational opportunities that may arise.

Titchfield Festival Theatre Productions Limited 's financial plans take account of the requirement to maintain and Increase reserves as the needs and challenges of the charity evolve.

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Going Concern

The Trustees believe that the organisation Is well placed to manage Its business risks successfully and have a reasonable expectation that the Group has adequate resources to continue In operational existence for the foreseeable future.

The Going Concern accounting policy is outlined in detail below:

The Company's activities and future plans are set out In the Trustees' report above.

The Company manages its activities with positive unrestricted cash balances. The Company's forecasts and projections, taking account reasonably foreseable changes in income and expenditure, show that the group should be able to continue to operate on this basis.

The Trustees review and manage short-term fluctuations In the Company's other Income streams:Hires, Donations, Commercial and Development Income. The Company also relies on support from other funders,including individuals, trusts, foundations and corporate bodies, for maintaining the high standards and diversity of its output.

Based on the above, the Trustees believe that the Company is well-placed to manage Its business risks successfully, despite the current uncertain economic outlook. The Trustees have a reasonable expectation that the group has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis of accounting in preparing the annual financial statements.

5 Year Strategic Objectives - 2019-2024

The strategy for Titchfield Festival Productions is very much aligned with that of TFT. Creatively ambitious, dynamic, diverse and relevant

The 2021/22 artistic programme has maintained Titchfield Festival Theatre Productions Limited’ s reputation of producing work which Is synonymous with excellence and ambition. This will continue over the next 5 years. Each year we will seek to expand the Titchfield Shakespeare Festival by adding venues. At it's core will be the 5 productions from ourselves. To this ambitious and dynamic programme will be added:

A season of plays for the very youngest of patrons. TFT believes this is where future patrons can be encouraged at an early stage to attend the theatre and become involved with the Bard. TFT continues to develop Its commissioning process by reading more broadly, observing a varied rostrum of artists' work, meeting a greater variety of artists, and commissioning a more inclusive range of productions. To re engage with the community by introducing an expanded Christmas fayre with a father Christmas element. The development of South coast Symphonia as a major touring orchestra along the South coast.

Titchfield Festival Theatre Productions Limited is committed to building inclusivity, diversity and accessibility through Its programming, operation and work to open up Its audience demographic, reaching more young people, families, and older people facing Isolation.

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At The Heart of The Community

Titchfield Festival Theatre Productions Limited prides itself as being a Community based theatre and actively encourages community groups to use our facilities. We are proud of our links with Fareham's Mens Shed, Titchfield Primary School and several other primary schools. Our support for activities at St Peter's the local community church will continue as will our support for local groups with free tickets to raise funds as well as space to hold meetings and activities.

Titchfield Festival Theatre Productions Limited continues to commit to presenting work that will attract a more diverse demographic and to offer more opportunities to a greater range of audiences particularly those with protected characteristics and lower socio-economic backgrounds. This Includes collaborating with a wider network of local and regional partners to reach local communities. This includes Free use of our facilities and personel or reduced rates for their use where productions are scheduled. Our work with our film partner Titchfield Moviola will continue and an investment in a new motorised screen will see more films being shown with the Compton Organ being featured. Since 2018, closer links have been forged between Titchfield Festival Theatre Productions Limited and South Downes College and Portsmouth University with a view to collaborating more on providing talent development opportunities to actors, young critics, technicians and stage management students. We looked for these links to grow stronger with Havant & South Downs inclusion again in the 2021 Shakespeare Festival and a production of their year 4 BTEC students in the new Oberon space at St Margarets lane.

At the forefront of European Community Theatre

Titchfield Festival Theatre Limited has already developed into one of the largest producing community theares in the UK with 3 unique venues. Titchfield Festival Theatre Productions Limited will continue to support this development, both with personnel, funding and venue mmanagement but will also be at the fore front of any touring that Titchfield Festival Theatre Limited may undertake to European Countries such as France and Spain.

The next natural phase the Trustees envisage is consolidation with a view to purchasing the St Margarets Lane site.

Once the site is fully owned a further development phase is envisaged as follows

1. Development of new rehearsal spaces for increased shows

2. Relocation of storage to a nearby location

3. Further performance space with increased seating capacity

4. Development of a cadre of in house Directors, trained externally on a free Directors course

5. Increased numbers in our Youth Offering with the addition of TYMT and TYA with three age group specific areas

6. Development of a cadre of in house technicians trained and led by professional full time team of technicians

7. Develop in house training sessions for actors to increase skills, led by professional actors and tutors and outside specialist tutors particularly based on Shakespeare

8. Development of a touring company for European and US Tours in particuar with Shakespeare productions from the annual Shakespeare Festival

Using the 8 point plan above the Trustees believe that Titchfield Festival Theatre Productions Limited will be well placed to support Titchfield Festival Theatre Limited to become the leading Community theatre not only in the UK but also in Europe.

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Environmentally Sustainable

Titchfield Festival Theatre Limited is the only fully green energy sustainable theatre in Europe. The theatre has 100kw of solar panels on its roof, a bio mass boiler to heat the building and a water recycling system. The Trustees at Titchfield Festival Theatre Productions Limited see this as only a start to the sustainability of the company and are keen to ensure that any further development only increases the sustainability of the venues making Titchfield Festival Theatre Limited at the very least a carbon neutral venue. IT has earmarked the training of technicians in the use of all LED lit shows particularly in the Acorn Studio and The Great Barn.

Titchfield Festival Theatre Productions Limited is a contibutor to Set Exchange where sets old and new are exchanged and reused.

Titchfield Festival Theatre Productions Limited has set Itself an annual replacement budget for production lighting equipment, with a specific focus on replacement of older less energy efficient units with newer low energy alternatives.The Trustees have decided to purchase the moving light rig traditionally hired in for each musical and panto.The units to be invested in are the very latest LED based low-energy moving lights which not only save electrical energy but also the labour and maintenance costs.

All internal lighting including fluorescent tubes are now LED. The addition of solar battery fed vehicle charging points is envisaged for 22/23 which themselves will give a further source of income.

The new 5 year plan will see a further installation of solar panels taking the total power output to 150kw with 100kw battery back up. This will ensure the whole theatre complex at St Margarets is run on green energy both day and night.

Across the organisation there has been a noticeable move to a more green-thinking culture and a sense of shared responsibility. A cross-departmental 'green-committee' has been established to support this and generate further Ideas to support Titchfield Festival Theatre Productions Limited 's aims of environmental sustainability.

Constantly monitoring and evaluating progress

Trustees have undertaken a governance review taking account of the external Charity Commission Governance Code first published In 2017. The senior management look to benchmark Titchfield Festival Theatre Productions Limited against other theatre production companies and to participate actively In reviews within the sector. In addition to developing an internal programme of regular user surveys and feedback through social media to monitor the Company's work and operation.

DELIVERY OF PUBLIC BENEFIT

The Company seeks both to maximise attendance at, and participation in, Its activities and to ensure that beneficiaries are drawn from across the spectrum of socio -economic groups and age bands. It does so by advertising to the public across the spectrum of media, including print and digital. The Community and Adult Programmes as well as the successful Youth Theatre, outreach programmes and other activities contribute to achieving this objective.

Fees for these projects are low but where price is an obstacle, for people of all ages, bursaries are offered. In addition, during the year free events were offered, Including pre- and post-show talks. The programming of productions includes works of broad popular appeal, particularly In the Oak Theatre, as well as more challenging work In the Acorn studio . Audiences for, and participants In, the Theatre's performances and projects live predominantly In the Southampton,Fareham, Portsmouth areas, although many attendees live In the wider South East and London regions and even beyond.

The Company is starting to play a key role In the local economy and takes a lead In the local community. Many of the the Popular community events In 2020/21 such as the Titchfield Art Fair,

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED 30[th] June 2022

Spring Fayre and local Jazz Festival held at The Great Barn had to be cancelled due to COVID . However we are more than hopeful these will be rekindled later in 2022 with TFT Prods leading on this.

The Company enables people of all ages to learn new skills and come together. The company took on a further warehouse space which now houses all furniture and scenery. Hires for this equipment will go through Titchfield Festival Theatre Productions Limited once again due to so many productions being cancelled in 2020/21 due to COVID hire fees for costumes, props and scnerey etc were rare. The Company treats accessibility to Its theatres and events as a priority and Is fully adapted to meet the needs of audiences with specific dlsabilities, physical restrictions or other impairments. This includes wheelchair spaces, accessible lifts, and disabled car spaces.

The Trustees are actively looking at the intorduction of induction loops in addition to signed, captioned and relaxed performances. Large-print versions of the season brochures and production programmes are also available on request, and online booking has now been Introduced for those patrons with access needs.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Titchfield Festival Theatre Productions Limited is a limited company with no principal shareholders and is a registered charity. The business of the Theatre commenced in 2001 and the current Company commenced its operations in 2005.

The Directors of the Company are also the Trustees of Titchfield Festival Theatre Productions Limited for the purpose of charity law up to a maximum of twenty. Our Trustees are also the only members of the Company and are non-executive and unpaid.

New Trustees receive a full induction to the organisation, including background and external reading on the duties of trustees as well as time with the Chair and other relevant trustees. In addition, time is spent on site at TFT with our Executive Team and Senior Management Team and touring the premises. Trustee training is delivered as required and briefings are held on new governance matters or regulations.

In 2020-21 the size of the Board stayed constant at 5 Trustees, This year, no new Trustees were appointed to the Board and there were no retirements.

During the year there were 10 full Board meetings, and two additional Board briefing calls. Attendance was high at an average of 96% with no trustee missing an unacceptable number of meetings.

The Board is involved in major strategic decisions and has ultimate responsibility for the control, conduct and financial stability of the Company and monitoring the Senior management Team, The Board’s responsibilities extend to monitoring Titchfield Festival Theatre Productions Limited charitable objects and the delivery of public benefit and is benchmarked against the provisions of the Charity Commission Governance Code (updated in 2020), with plans to review this in 2022-23. Whilst retaining overall responsibility, the Board delegates to the Executive Director and Artistic Director the detailed management and artistic control of the company. It is their responsibility, principally by selecting and implementing the artistic programme, to further the artistic reputation of and to ensure that its management is efficient, effective and run in accordance with good business practice. The Board approves the artistic programme annually through its approval of the budget. The Executive Team attends Board meetings and reports regularly. Our Trustees appoint the Executive Team and this also acts as the Executive team for Titchfield Festival Theatre Limited, and, in line with their relevant contracts, determines amounts due under those contracts annually. The Trustees monitor the performance of the Executive and also review the quality, effectiveness and timeliness of

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information provided to the Board. Trustees have access to independent professional advice, if necessary, at the Company's expense.

Appointment and Terms of Office of Board Members

The process of recommending the appointment of Trustees is delegated substantially to the Nominations Committee, however the Board reviews and assesses the necessary attributes, qualities, experience and local/national representation of the Board's needs at any time.

The initial period of appointment as a Trustee is a seven-year term with Trustees offering themselves for re-election for a second seven-year term. Exceptionally, a period of service for a Trustee is three seven-year terms with a maximum of 20 years. With the abolition of Annual General Meetings as a legal requirement, Trustees will normally be treated as retiring on or at the next Board meeting after the relevant anniversary of their first Board meeting attendance. This timing facilitates the continuous renewal and turnover of Trustees.

Fundraising

All voluntary fundralslng at Titchfield Festival Theatre Productions Limited Is carried out by an Internally managed Development department. The team Is supported by one other external company with fundraising expertise.

In 2021/22 the Development department ended the year with 2 part time volunteer members to allow a dedicated resource to raise funds from Individuals, trusts and corporate partnerships.

Titchfield Festival Theatre Productions Limited became a member of The Fundraislng Regulator in 2020, (the Independent regulator of charitable fundralslng.) This will help to strengthen the system of charity regulation and restore public trust In fundralslng and upholds a Code of Fundralslng Practice for the UK.

External fundraising took a particular dip in 2020/21 along with many charities the company felt the impact of COVID on the charity sector where giving has dropped considerably. This returned to an acceptable level in 2022 and it is hoped we can increase this for 2022/23 in order to raise funds for the new Arden theatre.

Health & Safety

The Company has a policy to provide safe and healthy working conditions, equipment and systems of work for all employees. It alms to do this through Its policy, training and supervision. Titchfield Festival Theatre Productions Limited Health & Safety policy and record Is reviewed annually internally and by the Board, and a short version of the Health & Safety Policy is provided to visiting conractors and new members and staff. The Health & Safety Committee meets monthly. 2022/23 will see increased training in Fire fighting measures, First Aid and Lifting safely and working at height for all members. With specific courses for licensing staff members on forklift and scissor lift use. 11 staff members and volunteers attended an alcohol licensing course.

Information Technology

The Company continues to develop ts IT and communications systems to ensure that they are, and will remain, secure and effective. The Company also has a robust disaster recovery system with both on- and off-site real-time back up. Furthermore, It manages Its Privacy Policy and data management in line with GDPR compliance as of 25 May 2018

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Safeguarding Children

The Company has a Child, Young Person (CYP) & Vulnerable Young Adult Protection Policy complying with regulations around the supervision of children and child :adult ratios. There Is a designated Child Protection Officer and a system for DBS update checks and safeguarding awareness for all adults (Including chaperones) working with CYP and vulnerable adults.

Volunteers and Friends

The Company is very grateful for Its community of volunteers who carry out specific voluntary activities, including help with fundraising, archiving and administration duties. Their contribution helps build the Theatre's sense of community and helps Its operational efficiency and our volunteer team are sincerely thanked for the work they do.

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Trustees Responsibilities for Financial Statements The Year Ended 30 JUNE 2022

Statement of responsibilities of the Trustees of Titchfield Festival Theatre Productions In respect of the Trustees' annual report and the financial statements

The Trustees are responsible for preparing the Trustees' Report and the financial statements In accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year. Under that law they have are required to prepare the company financial statements in accordance with UK Accounting Standards and applicable law (UK Generally Accepted Accounting Practice), including FRS 102 The Financial Reporting Standard applicable In the UK and Republic of Ireland.

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and charitable company and of the group's excess of expenditure over income for that period.

In preparing each of the group and charitable company financial statements, the Trustees are required to:

• select suitable accounting policies and then apply them consistently;

• make Judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained In the financial statements; and

• assess the group's and the charitable company's ability to continue as a going concern,

• disclosing, as applicable, matters related to going concern; and

• use the going concern basis of accounting unless they either Intend to liquidate the group or the charitable company or to cease operations,

• or have no realistic alternative but to do so.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that Its financial statements comply with the Companies Act 2006. They are responsible for such Internal control as they determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error, and have general responsibility 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 irregularities

By Order of The Board

Kevin Fraser Chair of the Board of Trustees 3rd November 2022

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INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF

TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED

Independent auditor's report to the members of the Titchfield Festival Theatre Productions Limited

Opinion

We have audited the financial statements of Titchfield Festival Theatre Productions Limited for the year ended 30[th] June 2022 which comprise the Income and Expenditure Account, the Statement of Financial Activities, The Company Balance Sheets, and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 , The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• give a true and fair view of the state of the charitable company's affairs as at 30[th] June 2022 and the net movement in funds, including the income and expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

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Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

Other information

The trustees are responsible for the other information. The other information comprises the information included in the Trustees' Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• the information given in the Trustees' Report (which includes the strategic report and the directors' report prepared for the purposes of company law) for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• the strategic report and the directors' report included within the Trustees' Report have been prepared in accordance with applicable legal requirements

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees' Report (which incorporates the strategic report and the directors' report).

We have nothing to report in respect of the following matters in relation to which the Companies Act

2006 requires us to report to you if, in our opinion:

• adequate accounting records have not been kept by the parent charitable company, or returns adequate for our audit have not been received from branches not visited by us]; or

• the charitable company financial statements are not in agreement with the accounting records and returns; or

• certain disclosures of trustees' remuneration specified by law are not made; or

• we have not received all the information and explanations we require for our audit

Responsibilities of trustees for the financial statements

As explained more fully in the trustees' responsibilities statement, the trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED 30[th] June 2022

that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

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TrrcHFIELD FESTIVAL THEATRE PRODUCTIONS LIMrrED 30" JuDe 2022 of lryutsribes, frathj. The •Xtsntto our wocathT•s am up•bJ• ofd•twvJ Irrég1￿111•8s. w￿1￿￿￿) Ib dolaitod bdw. Idenlified that nks of vth Iw6 rewL8iws Ml#J to tho Cw Act 2(¥)6 and the Charle6 Acl 2011 and C￿s1dered exlont tovthth nofv MmF41anc• rrmtht ho￿ a malalTr￿ •ffecton W•tso s￿h as IrK•m• lax. p•JtrJl t•x Ml88 {thd￿￿n9 Ihe I￿ ofovwrbjo Of¢￿trcIs￿ and th•t th8 riskwa$ ￿￿. perf0rrn￿ byth8 ¢rylianco ￿1h IM4nd wUla1b￿ •rJ Itaud. Idenl¢fyiffj and tostirvJ ￿m￿lS. in PBrflWkr￿yMIr entrkns prAbY ur•J$￿1 JJcc4unl PDslir&6 by unusu4 wr8 wvAlh unusuBI de8th'F4)Trs: and Chaler¥Jirq assumptio￿ aTrJhemerts mBd8 by rnarwgw￿1 in Ihwcth5cal ac¥u￿r¥ ••llff A fu¥ther d•xripkn ofow rnSFonsi￿riti¢S fv th¢ a￿ait Oft￿ fknanad statomrt h kated on I Finanual Reporting c￿n￿lS￿b$41• at This desoipli L￿ ol•urrnport Chapter 3 01 P118 Of￿ Cthhpardol Act 2006. Our8udrtwoth hA$ boon th assu￿ ￿6￿91￿1¥Y to anyorn Other than tharlt•il• conwy and thg ccfftpanI8 )wnb•rn a8 0 bc4ty, ￿ditwoth, forth1• reyt, cYfr¢tho have forn￿1. Sfjlyn Mmos K¢xklkn IS¢rknStstyltyy Awkn) for and th t•halfol & Corn￿￿ Fknr 5448 High Slreat Edware HA8 7EJ XLtI 2D

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED 30[th] June 2022

Titchfield Festival Theatre Productions Limited
Management Accounts
Statement of Financial Activities to 30th June 2022
Incoming Resources
	30/06/2022	30.06.2021
Incoming Resources from Generated funds Voluntary Income Activities for generating funds Investment income Loan from R&R(CIBLS)	767,620.30 3,980.86 33,213.00 0.00	463,758.46 0.00 30,657.93 137,000.00
Total Incoming Resources	804,814.16	631,416.39
Resources Expended
Cost of generating funds Costs of generating voluntary income 12months Depreciation taken at 30/06/2022 Loan repayments Governance costs	503,355.58 109,981.38 54,948.52 14,258.19	512,930.72 73,944.26 0.00 8,140.00
Donations Total Resources Expnded	4,168.00 686,711.68	9,981.51 604,996.49
NET INCOMING RESOURCES	118,102.48	26,419.90
RECONCILIATION OF FUNDS
Total Funds Brought Forward	877,849.78	851,429.88
TOTAL FUNDS CARRIED FORWARD	995,952.26	877,849.78

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED 30[th] June 2022

Signed on behalf of the Board by

Kevin Fraser

Chair to the Board of Trustees

3rd November 2022

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED 30[th] June 2022

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1. ACCOUNTING POLICIES

Accounting convention

The group financial statements have been prepared In accordance with the statement of Recommended Practice: Accounting and Reporting by Charities (Charities SORP (FRS 102)) and the Flnanclal Reporting standard 102 applicable In the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011 and UK Generally Accepted Practice as It applies from 1 January 2015.

The financial statements have been prepared to give a 'true and fair' view and have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a 'true and fair' view, This departure has Involved following the Charities SORP (FRS 102) Issued on 16 July 2014 rather than the preceding SORP (SORP 2005) which was effectlve from 1 April 2005 and has since been withdrawn,

Incoming resources

All incoming resources are included on the Statement of Financial Activities when the charity is legally entitled to the income and the amount can be quantified with reasonable accuracy and are net of VAT

Resources expended

Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. Building Upgrade, seating, toilets, bar, electrical, wedding equipment,theatre props - 10% on reducing balance Vehicles, costumes, scenery, drapes - 15% on 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.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

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ASSETS RoBi%tor•$ of 30thJuno 2022 At 1.07.2021 Building upgrade Iboiler.walls,me 242.770.12 Raked15ealing DeGkinglExhibitior 11,758.29 702.27 D&preciation charge End 2022 % D•pM¢iatitsn io 15 15 io Is io io 20 15 15 Is 202112022 24.277.01 1,763.74 105.34 0.00 5.704 38 19,635.48 sèt ValuÈ 218.493.11 9,994.55 596.93 Assetvalue 30 06 2022 237.993.76 20,915.74 596.93 19500.65 10921.19 0.00 General Equipment]FirelPhDne5 38.029.19 196.354.85 6920.96 19393.77 3975 39152.42 4066.99 4659.68 11492.81 32.324.81 176,719.36 0.00 170,995.03 14.355.74 39,886.42 27.362.15 5,383.62 39.245.77 196.113.13 3.975.fy) 210.147.45 18.422.73 44,546.10 38.854.gS 17,383.62 SeatinglT?ble*Wedding Equipm 213.743.79 16.889.10 46,925.21 32.190.77 S.729.52 42,748.76 2.533.37 7,038.78 4.828 62 1,345.90 Props Costumes,wardrobe Stenery Drdpesnruckslsmèll marquees 20 12000.00 Property 193.271.ty) 0.00 0.00 193,271.00 193.271.ty) 999,364.11 0 109,981.38 0 132083.47 889,382.73 1,021,466.20 25

TIl(hfieKIF¢stlvalTrbtreW￿t1￿SlM. manageTrntAC((N￿t%IO1l/1O￿2 PwlvdI¥tJ.J￿hl￿ 5t Margarets TOtall￿￿1vItI INCOME 0.00 0.00 38943.34 0.00 131L28 2721￿0D 102207.29 39aO I7￿.11 3321J.fA7 a71317.95 39￿. 13017FAI 1175QX 1161. 3746W81 4493.01 14011. )7466I.62 588b.4t IÉ ikmial her5lATlStrea 0.00 ltyJ5.01 aggaè.as 3YJ.40 149724 É4 26

C05T5 V•hicl•s&Trnv•l 5583. 203.97 Is. 3a569.42 39152.42 1350. 59.40 Petrol &Ario55OriP5 MoT-TrttliiE.%￿¥l￿Iffje 199&19 24.69 L926.06 7533.95 3626.86 ou 78(40 tyj 1ts19.OB 7533. TOTA 8241.86 46681.4S 76. 82É7&03 1214s4.oa 989.90 989. 5321. iaO(MJr-pliimiM¥ bDur-6uildeT 145. 145. b￿r-)0￿nei¥ 17877 50 17877 50 t￿(￿3￿￿￿31enaI5 Ironnillngery TOTALS T•¢hnlcal Equlp•n¥4nt 67832 15 Y67.00 165&60 1658.60 17135.17 21565.56 The￿t￿e50￿￿el￿l 4867.20 1669&P6 00 TOTALS 4867 20 36091 53 ￿￿59 7a S•t 8ulld 1420.1 7R.81 Sel Otl)e￿%4 3.49 69.32 1699.15 00 196000 3659.15 Lkapps NJ TQTALS Show9 921&55 IW21.19 117th4S tyj 1170.45 380. ou 481.57 990.68 2439.50 18S7.07 ArtUT5 Foes 28.95 2468.45 1857.07 Art￿5 Exppn5e5 FOH 7823.33 Coiturn•# & Props 3314.48 1900.77 3114.48 1900.7F tyj costum￿Gen￿31 2758.91 33.98 71.32 PtDP5consumablps SS33.98 6072.32 50D. (WJ 5W.QO ooTr.oo TQTAL5 32.97 2L1832.97 27

TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED- 30[th] June 2022

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TITCHFIELD FESTIVAL THEATRE PRODUCTIONS LIMITED- 30[th] June 2022

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