OpenCharities

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

2023-07-31-accounts

•1 EXETER NORTHCO THEATRE ANNUAL REPORT & FINANCIAL STATEMENTS I AUGUST 2022 - 31 JULY 2023 EXEfER NORTHCOTh THEATRE COMPANY- COMPANY NUMBER 08393145 CHARITY NUMBER 1151620

----- Start of picture text -----
\
.
Fl aS -a * ot’ Pe i: u
/
----- End of picture text -----

Exeter Northcott Theatre is a Registered Charity in England and Wales and a company limited by guarantee governed by its Memorandum and Articles of association dated 7th February 2013. The only persons eligible to be Members of the Charity are its trustees, each of whom agrees to contribute £1 in the event of the charity winding up.

TRUSTEES

The Trustees of the Charity who served during the year were:

Co-Chairs: RChapman -
University J Milling Appointed 26 Sept 2022
of Exeter
_
nominees:		 TBegbie Appointed 25 Sept2023
M Shore-Nye Resigned 25 Sept 2023
Student L Fisher Appointed 12 December 2022
AL Smith Resigned 12 December 2022
Trustees: Craig Bowden -
JamesAnthony-Edwards
Chris Hoar -
Mandy lvory-Castile -
Sarah Elghady -
Swati Gola -
JT Leyland -
Linda Peka Appointed 12 December 2022
Janet Farr Resigned 12 December 2022
Catherine Goodridge Resigned 26 September2022
BenMonks Resigned02March2023

Exeter Northcott Theatre Registered Charity Bankers: Stocker Road No. 1151620 NatWest Bank Exeter 59 High Street Devon Registered Company Exeter EX4 4QB Ne, Geese tus EX4 3DL

Auditors: PKF Francis Clark Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF

3

The Trustees are pleased to present their annual report together with the consolidated financial statements of the charity and its subsidiary for the year ending 31 July 2023 which are also prepared to meet the requirements for a directors’ report and accounts for Companies Act purposes.

The financial statements comply with the Charities Act 2011, the Memorandum and Articles of Association, and the Statement of Recommended Practice — Accounting and Reporting by Charities SORP(FRS102).

CHAIRS’ REPORT

We reported twelve months ago on how emboldened Exeter Northcott Theatre (ENT) felt after coming out of Covid. Strengthened by reviews and reassessment across the organisation, the period led to the creation of a comprehensive new Business Plan for 2022 - 2026. We could not have envisaged the importance of our being in such a robust position, to prepare us for the year that lay ahead.

In September, our Artistic Director and CEO of five person shouldering the responsibility of running years’ standing, Daniel Buckroyd, announced his a building, its finances and artistic programme intention to move on from ENT. Daniel’s legacy — was was in fact fit for purpose. We saw how we we is significant and as we wish him well in his new had benefitted from co-leadership at Chair level. role at The Garrick, Lichfield, we thank him for We also saw the benefits of joint and diverse his enormous contribution to ENT. He left us in leadership in other organisations. a better place than he found us, secure in our Dialogue with academics on our doorstep on relationship with major partners (the City, the the University campus, with others researching University and Arts Council England), proud in the field, and with those already engaged in coour management of the Barnfield Theatre in the leadership began to inform a journey towards city centre, and with our reputation for artistic making such an approach work for Exeter excellence enhanced. Korkhentk Tibeatre.

person shouldering the responsibility of running a building, its finances and artistic programme — was was in fact fit for purpose. We saw how we we had benefitted from co-leadership at Chair level. We also saw the benefits of joint and diverse leadership in other organisations.

Indeed, one of Daniel’s final acts for ENT was to We agreed that a shared leadership model could write and direct our pantomime, Robin Hood, bring new and more diverse people into our with regular collaborators Le Navet Bete, a sphere. It would also signal a desire to be led by joyous romp which broke all box office records. listening and dialogue rather than by an individual Pantomime — and excellent pantomime at that - is vision. Most critically, we felt that shared back as a central plank of our programme and for leadership had scope to bring us more diversity this, and so many other things, we thank Daniel. of thought and drive even better decisions An extended recruitment process for a new in a complex and uncertain world. Of course, Artistic Director/CEO prompted many questions the flurry of senior leaders exiting the sector and offered up new opportunities. We examined also fuelled our thinking. The pressures of sole whether a traditional leadership role — with one leadership have clearly become immense: the extreme complexity of the funding landscape; the imperative to exploit the commercial potential of buildings; ageing infrastructure requiring challenging solutions; the need for respectful and

compassionate leadership; and the demand for relevant and diverse programming. Expecting one inllviglue) to carry all of this nas clearly become impossible to expect and unfair to impose.

engagement. We were all enthused and excited by this breath of fresh air.

We are therefore delighted to have found the excellent Martin Berry, and to have appointed him to the new post of Creative Director and Joint Chief Executive. Martin comes to us from a senior management role at Nottingham Playhouse with a wealth of experience in community engagement, creative development and programming. We look forward to him joining our team in November and in particular to the development of a formidable triumvirate with Emma and Kelly. We are also conscious that the implementation of this new structure will be scrutinised. We look forward to that challenge, and to playing our part in the wider development of leadership across the cultural sector.

Rather than simply grafting another

organisation’s structure upon ENT, we explored what would be right for us. We have a strong Business Plan in which everyone (staff, volunteers, stakeholders and Board alike) has invested ideas and commitment. After much discussion and consultation (internally and externally) we agreed that the Executive structure should reflect the three ‘legs’ of the plan — Creative programme, Finance & Resources and Audiences - and settled on three posts:

Creative Director and Joint Chief Executive Finance & Operations Director and Joint Chief Executive

Executive In this year, more than any other, we owe a huge debt of gratitude to our staff team. Their Development & Marketing Director and Joint support and professionalism Chief Executive since Daniel’s departure c? has been exemplary. They Whilst the three roles would have direct, have carried extra burdens Devon wap: and trusted the process. iB responsibility for particular areas, they would also 1 aT CENTRE) share ; aa We must particularly thank CNORTHCOTT = both Chief Executive responsibility and speak : d Kelly who h inl internally and externally with that authority. mma an euy WNO lave DARTMOOR > SARNFIELD Two of the three new roles with; the addition held the reins as Interim of the Chief Executive; ; level responsibility,ae were icine° in ‘ Clase. xe ntCc S e" fo) fundamentally similar to those already fulfilled areal paHence, i, ‘ , by in-house, ,incumbents. We were therefore co m* mitment a0 B00 pleased , , , humour. We wish them every to appoint our interim co-CEOs Emma h Stephenson and Kelly Johnson to these new success as the new structure roles unfolds. Our search for a Creative Director and Joint Chief Executive was a revelation. Freeing potential applicants from the shackles of having to Ss ee demonstrate experience of, or capacity to run L a building single-handedly was liberating. We received a significant number of applications ea = 4 n fromwide, people with diverse backgrounds and a he ; A ; F- a DINTh TA i broad and deep experience of creative | | WAT ae | I Deattrre | om i izes aol ger]|L onono fryIO Le

We would also like to thank our external recruitment consultant, Mary Caws. Her knowledge of the sector and wise counsel make her a key source of support and provided an invaluable sounding board for our deliberations. She has been challenging and supportive in equal measure and for that we are eternally grateful.

In November Arts Council England (ACE) awarded ENT National Bartialie statue tar the next three-year period 2023 — 2026. The award of £127,300 a year represents standstill funding and means ever more tight financial management. However, we are grateful to ACE for their support, particularly given the turmoil surrounding the announcements. Recognition by ACE sends a positive message to current and potential partners and funders.

The Barnfield Theatre increasingly represents an exciting and vital part of our core work. Our second venue acts as a gateway for individuals and groups to enter into ENT’s orbit. Our work with young people and community groups has a special home at the Barnfield and our first full year there has proved extremely fruitful. We are exploring new educational, training, commercial and artistic partnerships and look forward to the developments that this unique, city centre location can offer to the people of our city.

Coming full circle, our corridors are currently ringing with the frantic sounds of rehearsals for this year’s pantomime, Dick Whittington. In another collaboration with Le Navet Bete (and with a script co-written with Daniel Buckroyd), we are already heading for more box office records. The hugely successful “Pay it Forward” scheme that enables disadvantaged young people and families to enjoy theatre, also continues to reap rewards in terms of our impact and reach.

We would like to extend our sincere thanks to everyone who has enabled us to achieve so much this year, about which you will read more in the coming pages. We would particularly like to thank our major Partners (Exeter City Council, University of Exeter and Arts Council England) and all those Trusts and Foundations and individual Supperters whe make Gur werk possible.

But in this of all years we hope you will indulge us if we reserve our greatest thanks for our staff and fellow Trustees who have seen us through a challenging twelve months. ENT remains strong, committed and enthusiastic for the challenges ahead thanks to your tirelessness. Thank you.

David Balcombe and Becky Chapman Co-Chairs, Exeter Northcott Theatre

We have invested heavily in upgrades to our technical equipment making us more attractive to touring companies and more efficient in our operations. We are grateful to our technical team who labour so tirelessly in the face of busy and demanding schedules.

VISION, VALUES AND STRATEGIC DIRECTION

The charity’s purposes are:

OUR VISION

¢ Coming together to unleash our creative In shaping our programme for the coming potential year, the trustees have considered the Charity OU R VALU ES Commission’s guidance onincluding the guidance on feepubliccharging.benefit,The Everything we do is informed by: theatre relies on grants and the income from box office sales and contributions from ancillary Creativity, Cari iatirinty, Inclusivity and trading activities to cover its operating costs. Sustainability Alongside the new ways of working developed STRATEGIC OUTCOMES strategicover the outcomeslast few years,will delivery againstbe achieved through these Everything we do is focused on three outcomes: our engagement WDM @UGiERGeS, artists at community users at both venues, and the * Amore diverse range of people getting continued evolution of the Barnfield as a creative creative hub in the city. Our focus over the medium term * Amore diverse range of people engaging with will be on diversifying our programming, and the theatre impact of our engagement with theatre makers and target groupsin the community. We will e Amore collaborative/inclusive regional cultural be working on the ways we can support career necHOr progression within the performing arts and STRATEGIC TH EMES EMES ensuringembed access, that weinclusivity, have the toolsand sustainability to effectively * Attracting a bigger, more diverse audience into all aspects of the organisation. We aim to [back] to theatre create a way of working that supports our staff, provides effective governance and provides a * Supporting the next generation of South Westrobust business model so that we can meet the based theatre makers challenges that the future will bring.

STRATEGIC TH EMES EMES

----- Start of picture text -----
7
,=, r
\ 1 | fi i :
= Ae 4
_ spe on ze
----- End of picture text -----

2022-23 was an extraordinary year for Exeter Northcott Theatre. We sold more tickets than ever before and welcomed more than 118,000 people to events at the Northcott Theatre, The Barnfield Theatre and The Great Hall.

We enjoyed an average occupancy of 72% across all Northcott events which represents a 4% increase from our average occupancy before the Covid-19 Pandemic. Our home-grown pantomime, Robin Hood, smashed box office records and we welcomed more than 17,800 people to the theatre at Christmas.

lt is clear audiences are returning to pre-pandemic levels but sales this year presented a marked difference in patterns of audience booking. In line with the national picture, we noticed a suppression of demand for plays whilst comedy, family and dance events thrived. Similarly, regular repeat bookings declined but this was balanced by a huge upswing in new bookers — 45% of bookers in 2022/23 had not booked before. Whilst these changing patterns brought challenges, the diversity of our programme, now presented in a range of spaces including the city centre Barnfield Theatre, enabled us to respond to a wider variety of audience tastes and welcome record numbers of people to our theatres.

This year we invested in the customer experience by refreshing the look and feel of our buildings, refining our catering offer and upgrading the booking experience through the development of CrowdEngage — a digital booking platform. These improvements helped us to provide an excellent welcome with survey respondents giving us a net promoter score of 83%.

8

----- Start of picture text -----
/ |
: i
----- End of picture text -----

----- Start of picture text -----
ye ato] —— mS P 2) &
+}:
----- End of picture text -----

It is testament to our team of staff and volunteers that we continued to receive excellent feedback about our customer service:

‘| regularly go to the Northcott, most often with my Mum who is partially sighted with limited mobility...

Our Google review rating is currently 4.6 out of 5.

helpful, polite, interested and never hurried. I’ve

customer service must put you pretty much at the top of customer service in the area. You get it completely right, every time.

Once at the show, everyone is always friendly and helpful. | hope that what we see as visitors is the result ofa happy team- it feels like it is!’

both through my 54yr old, post me. h dv. d d We ave seen comedy, drama an dance in the last 6 months and come away wowing every time.’

KKKK*K

We also implemented a more robust system for taking action in response to customer feedback. Weekly monitoring of surveys, online review platforms and box office feedback are discussed at the regular Managers’ meetings to ensure we respond quickly to customer needs.

|

A MORE DIVERSE AUDIENCE

We understand that to engage with a wider range of people, we need to develop authentic relationships in which we listen, learn and take steps to make theatre more relevant and accessible.

U26 MEMBERS

Open to anyone under the age of 26, 421 people took advantage of a U26 membership scheme offer enabling them to access heavily discounted tickets to a range of events. Supported by our student trustees and feeding into the development of our Young People’s Manifesto, we are developing additional benefits and work opportunities for members. members.

In 2022/23 we developed a series of initiatives to help us do this:

A NETWORK OF CRITICAL FRIENDS opportunities for members. members. In spring 2023 we set up an advisory group of BSL users with Complete Communication PAY IT FORWARD and continued our work with the Inclusion This fundraising campaign enabled us to gift Agency to help advise on a range of issues from 750 pantomime tickets to families who might programming and marketing to staff training not have been able to attend otherwise. Tickets and our catering offer. As part of a bigger were given out via 15 charities and community partnership with the Encompass group— a organisations including Exeter Community network of Exeter’s Caribbean, Hindu and Polish Initiatives, Young Devon and The Helen communities- we take a collaborative approach Foundation. to marketing so that we learn and evolve our practice. We We aim to expand expand our critical friend ‘One lady that| that|| was supporting supporting accepted the networks in the coming years. tickets and took her son and took her son took her son her son son to the theatre to see see

practice. We We aim to expand expand our critical friend ‘One lady that| that|| was supporting supporting accepted the networks in the coming years. tickets and took her son and took her son took her son her son son to the theatre to see see the pantomime. Her experience, was heartTHEATRE PASS — SUBSIDISED TICKETS warming. The Mum had experienced a violent This year we developed a Theatre Pass domestic situation, which not only left her membership which will enable members to get having to rebuild her life with her child but two tickets for selected shows at £5 or £10. lacking severely in confidence. After going to Theatre Pass holders are identified via referring the panto, she decided that she could rebuild partners such as Live West Housing or via pupil their lives. She got herselfa job so that she premium support schemes at secondary couldfund further visits to the theatre. They schools and will launch next year. no longer needed my support with a plan... Their visit to the panto unlocked their world.’

BLUE LIGHT more accessible. Our partners, Complete We regularly work with staff of ‘blue light’ Communication, gave training to staff and emergency services to offer free tickets to their volunteers which resulted in a number of actions emily ane ee ees were received by including a BSL interpreted welcome from frontue Light staff in 22/23. of-house staff and the development of a sensory CORGESIONSIn acti to Ties tar Belen aeinitiatives, we eRALTE spaceandpractices we for developed relaxedwere adaptedperformances.new welcometo become Ourtoolsmore marketingincludingaccessible concessions are available throughout the year. This visual stories and video packs for both the eal 427 concession hiekets Were BIVEN tp those Northcott and the Barnfield Theatre. There is still with access nEESS along with ie free SEP LBKELS, much to do and we continue to learn and develop 7,917 reduced tickets were given to senior citizens; with the support of our critical friends. 419 concessions were taken up by people on children’sbenefits andtickets.16,107 concessions were issued for 4 just wanted to saya massive thank you to you guys for nailing the accessible provision! ACCESS provisionWe go all overin myfor home variouscity actsactually andis toa havebeautiful such This year we offered : BSL inkenprated thing. Exeter doesn’t really do accessibility all performances, 5 audio described performances that well... we were treated with respect at all and 2 relaxed performances. Supported by times, honestly, I’m blown away!’ our network of critical friends, we now consult on which performances to programme and seek advice on how to make our welcome , , Eh, 1 Ofc a), aN? R's eu= wa - : aa ! | 5 A o ek acta ‘ wb,Le| 1%AP Vspe 4 me.Se+52! & .

11

PERFORMING ARTS WITHIN EDUCATION

wants to learn about what it’s like to work in the industry” - Work experience student

In 2023 we trialled and rolled out a ‘Behind the Curtain’in Key Stagesworkshop2 andattended3. The elementby 114 of technicalstudents In partnership—with Exeter College and Open theatre in this workshop complemented the Drama, we ran our first Teacher Networking piloting of a technical theatre training strand with Event post-Covid. 18 teachers from across the students in 2 loeal schaols. region came together for a physical theatre Our digital- Heritage Education resource based on workshop' , with Le Navet, Bete, a facilitated discussion and networking. an exploration of Verbatim Theatre techniques, was downloaded by 16 schools across the South Partnerships continued with the University of West and accessed by 1,276 students. Exeter, including module support and Q&As In partnership with Speakers for Schools, we for.. Widening Participation. For the the Devisingaadaad offered virtual experience days giving students Discoveryreprogramme, we co-ledreprogramme, we co-ledprogramme, we co-led we co-led co-led the artists,, Oo into different jobsain the creative anial ahawease event actha Nerheatt, aeindustries. team delivering delivering in schools as well as hosting schools as well as hosting as well as hosting well as hosting hosting the

Partnerships continued with the University of Exeter, including module support and Q&As for.. Widening Participation. For the the Devisingaadaad Discoveryreprogramme, we co-ledreprogramme, we co-ledprogramme, we co-led we co-led co-led the artists,, anial ahawease event actha Nerheatt, team delivering delivering in schools as well as hosting schools as well as hosting as well as hosting well as hosting hosting the

We delivered our first week-long work experience programme for 5 young people who came through a formal application process in which we interviewed and provided detailed feedback to 23 applicants. We also offered a bespoke programme of work experience to a small number of young people with additional access needs. ‘Listening to and learning from professionals at the Northcott and Barnfield theatres, and collaborating with new-found friends was a bunch offun. | would definitely recommend the work experience programme to anyone who

----- Start of picture text -----
Perens anne ;
> ‘ Law ~s |
Tw ;
ee = / a
f ‘ae yy F {fr a>
ce * Mit a nN \ %
& ’
|
----- End of picture text -----

12

----- Start of picture text -----
J : ¢ — ,

a | }
a
Pa iw ) rie * ‘. A , j pF al | oS
/ l
Ss == a, -a naa “< . = = — = thy ;
----- End of picture text -----

In 2022/23, 548 young people attended a workshop, residency, or Northcott Young Company session and at the close of the year, our Northcott Young Company programme was fully subscribed with a waiting list for the age 9-12 group.

‘The teachers] take care of you. You feel like you really don’t have to hide yourself, you can just be yourself here, there’s no judging’

NYC participant

This year we provided additional opportunities to young people across all our programmes including digital storytelling, filming an access video, defibrillator training as well as opportunities to work with artists such as Le Navet Bete and community groups such as Café Theatre Company.

Two of our Young Creatives group performed as part of the Café Theatre showcase and three of our young people performed at the Carnival Stories event at Exeter Library, which enabled intergenerational artists to perform together.

Audience donations together with the support of the Jack Riley Trust enabled us to offer 20 fully funded bursary places on our Bronze Arts Award week. Support from schools, Young Devon and Well-being Exeter has enabled us to reach a diverse range of families with a variety of economic, social and learning needs, ready for programme delivery next year.

13

|

|

f | |

This year, our Futures artist development programme offered 9 masterclasses (1 more than originally planned) on a range of topics from Devising to Puppetry to Fundraising & Finance. 110 participants attended the sessions with the feedback below providing testimony for the quality of the experience:

The quality of teaching: 100% rated good or excellent; 91.6% of which rated excellent.

Overall this experience was: 100% rated good or excellent; 90% of which rated excellent.

The masterclasses were followed by the Futures Festival, which included work from Futures alumni from the past three years. The festival supported 21 artists to share work, either in a scratch or more fully realised format. Artists were also given the opportunity to showcase their work to an audience of invited industry professionals.

‘Every opportunity I’ve had in terms of work, in terms of connecting with others, has in some way come from connections made on the Futures programme which is just amazing’ Futures participant

This year we offered more opportunities for Futures alumni to get involved in other projects and programmes.

Three Futures alumni produced this year’s Futures festival with their new company Doohickie Productions, a former Futures participant ran a masterclass and others taught our young company or worked on community projects as freelance artists.

14

----- Start of picture text -----
z
’ 6 j ia a hy —- ‘
4 re 6aes || s i ; a—7Sipe i ’ ° wd iC= >a q (aé; if-'ywi wr q¥ PlNigro
S < 65 ~f 3 =
----- End of picture text -----

Creative Connections, our company of adults with a range of disabilities, continued to grow into its third year and relocated from a different venue in the city to the Barnfield Theatre. This, along with the opportunity to go to shows together and the chance to perform on the Northcott stage (Potholes on Mars) enabled the group to feel part of the theatre’s community of artists and theatre makers. Many of the Creative Connections group perceive themselves as emerging artists and this year they were supported to increase creative skills by working with professional theatre makers such as Quirk Theatre and Four of Swords.

“It was a very special experience having our session on the real stage. The lighting, acoustics and space created a sense of excitement... the Northcott Theatre invigorated creativity and gave a new angle for people to absorb.”

Parent of Creative Connections participant

16

The Encompass group, representing some of Devon’s Caribbean, Hindu and Polish communities, opened the Barnfield in autumn 2022 with The Story Story of Us, Us, welcoming approximately 1000 to a day of free workshops and performance activities.

----- Start of picture text -----
Hindu and Polish communities, opened the Barnfield in autumn ‘It made me realise that
2022 with The Story Story of Us, Us, welcoming approximately 1000 to a Exeter has a lot of diversity
day of free workshops and performance activities. going back a long time...
The Encompass steering group, facilitated by the Northcott team, MODEch CORESBe NeFen oe HENaul
then created and curated an event in spring, Flavours of Us. A all celebrated with: this
twist on an afternoon tea, this; event .invited a packed audience; day of entertainment.)
to explore different, food and cultures though art ,installations,; Wonderful!
workshops, discovery, trails; and a sit-down; tea. The Story of Us, visitor
In 2022/23 we piloted the Northcott’s first é.
Community Associate company, providin i: =" 4
support a va om 1 & / 9
for a local community company to pur Ay ee ZA
become more resilient and sustainable. Café oer: ; 4 wale |
Theatre Company, making socially engaged if A \ e ep a
theatre about getting older, were provided 2 » \ oh.
with a small amount of seed funding, in-kind a. | re: ——— WW |
resources and the opportunity for regular \ > , & “ie y ,]
mentorship from the Northcott team. | ==! - ¢ ? ee ee
‘Like so many small community so many small community many small community small community community ‘ = i fae Re
organisations we have strived strived to keep keep : 4 \ @ : e
going during the pandemic pandemic and without &
Northcott and and the dedicated community community = \
----- End of picture text -----

‘Like so many small community so many small community many small community small community community organisations we have strived strived to keep keep going during the pandemic pandemic and without Northcott and and the dedicated community community we have created, we wouldn’t be here now’

17

ESTABLISHING A CITY CENTRE CREATIVE & COMMUNITY HUB FOR EXETER:e THE BARNFIELD THEATRE

We took over management of the Barnfield in January 2022 with a three-step plan: protect the historic building, broaden its range of creative activities and people engaging with them, and transform the Barnfield into a vibrant cultural hub for the people of Exeter, Devon and beyond.

ENSURING SUSTAINABILITY

Between January and September 2022, we carried out essential maintenance at the Barnfield. These works expanded the venue’s performance capacities, improved accessibility around the building, and refreshed interior and exterior areas to feel more welcoming. Further repairs were undertaken over the summer of 2023 to ensure the building remains viable for the aed ieceranaimedianierenc

We re-opened the Barnfield to the public in September 2022, welcoming nearly a thousand people through its doors on its first day. Exeter Northcott and the Barnfield’s shared journey has since been marked by significant highlights, including:

EXPANDING COMMUNITY ENGAGEMENT

In September 2022, we re-opened the Barnfield with The Story of Us festival. Encompass, a Northcott group made up from members of Devon’s Carribean, Hundu and Polish communities, co-created the event with the Northcott to explore their creativity and transform cultural representation in Exeter and Devon. In May, the group followed up The Story of Us with Flavours of Us, a guided experience looking into each community’s relationship with food.

‘ didn’t imagine having this space in Devon and | didn’t know | needed it... it’s been quite emotional really.’ -The Story of Us festival visitor, Barnfield Theatre

Café Theatre, a Northcott Community Associate company who create work with people over the age of 60, performed a series of comedy sketches during an interactive afternoon tea at the Barnfield, shining a light on often overlooked experiences of older generations.

ENHANCING EDUCATIONAL OUTREACH AND YOUTH DEVELOPMENT

Exeter Northcott expanded its educational activities at the Barnfield. Primary and secondary school students took part in drama sessions and technical workshops, gaining hands-on experience and insights into the world of theatre.

All aspects of the day have been absolutely brilliant. I’ve learnt new things | can take back to the classroom. It brings the learning they’re doing in the classrooms to life. It is unmeasurably valuable.’ - Drama teacher, Uffculme School

18

----- Start of picture text -----
Be i = : 1; BT PSS
en NG
——<—S oo ae = co —— ia... | 4 rat i]
Platelet LS
aa = SS = jae
H
| i oT i) iA I ——— ee HI = a | |
----- End of picture text -----

The Northcott Young Company (ages 7 — 21) developed their performance skills in collaboration with guest artists like leading physical theatre company Le Navet Bete, and devised a technologically ground-breaking production, Studio on the 3rd Floor, with the Northcott team.

‘To be able to say, here’s a bunch of work that artists in the South West have been working on, and to be able to share and present that... just made mefeel[really] connected with others, really grounded, not just in the South West but with other artists and producers in the region.’ - Northcott Futures participant

I’ve been with NYC for I’d say about three - Northcott Futures participant maybe four years now and | can honestly say | don’t know what I’d do without it. Everyone is so friendly and inclusive, and| CREATING A N EW HOME FOR honestly feel like they’re my second family. Not only do we put on incredible pieces of IN NOVATIVE SOUTH WEST theatre (if|do say so myself), but we also THEATRE veNAS =@TPETAMEISEC ee spEEDLE toExeter enrichNorthcottculture confirmedin the city byits programming commitment innovative South West artists at the Barnfield: INCREASING ST PPORT FOR Beyond Face showcased global majority stories with its kaleidoscopic music experience Bigger ARTISTS Than Lyrics; Scratchworks returned to its Exeter Northcott hosted two festivals as part of of its roots with local history-inspired witch pee Futures artist development development programme TES ane Four of Sete AICI ALICE, Weve oa emerging South West theatre South West theatre West theatre theatre makers. Futures mic variety show ae HOMCRING: performed work created created on the the elie ea artists Madame Thespia into an to new audiences new audiences audiences and networked immersive murder mystery backstage adventure.

INCREASING ST PPORT FOR LOCAL ARTISTS Exeter Northcott hosted two festivals as part of of its Northcott Futures artist development development programme for emerging South West theatre South West theatre West theatre theatre makers. Futures participants performed work created created on the the programme to new audiences new audiences audiences and networked with industry professionals, as well as regional and national organisations.

19

EMBED QUALITY, SUSTAINABILITY &

eA RTHIERSHIPS"

This year, the Northcott staged Robin Hood in collaboration with Le Navet Bete. This was our first co-producing collaboration with Le Navet Bete enabling the company to work as co-writers with Director Daniel Buckroyd and perform alongside a larger, more diverse cast and creative team.

The production was a huge hit breaking box office records, receiving 5 star critical reviews and an average 4.8 stars from audience via surveys if es aa see one show this Christmas, this Is It. Excellent. British Theatre Guide

Working closely with hundreds of theatre companies, artists, producers and touring networks enabled us to bring 126 different shows to Exeter in 2022/23 providing a packed and varied programme for people in Devon. Programming across three venues and four spaces, we’ve been able to present productions

----- Start of picture text -----
5
----- End of picture text -----

across a number of scales, from new work in an intimate studio setting to established household name artists in The Great Hall.

In 2022/23 The Barnfield Theatre showcased new work by emerging artists through our Futures Festival and presented acclaimed new productions by South West theatre companies including Tangle, Scratchworks, The Wardrobe Ensemble and Beyond Face. It has become rome for The Comedy Store in Beeler and has enjoyed many sell-out comedy gigs rom Babatunde Aleshe to Randy Feltface and Fringe Festival favourites such as Yippee Ki Yay and An Evening Without Kate Bush. Long-established as a home for local amateur companies, it is now the showcase destination for theatre and dance schools in the region as well as many amateur local theatre companies.

At mid-scale, The Northcott Theatre’s drama highlights this year included the Olivier Awardwinning Pride & Prejudice (sort of); lan Hallard and Mark Gattiss’ The Way Old Friends Do and the theatre adaptation of /, Daniel Blake

20

----- Start of picture text -----
mera.» 7
a Be Min iy XS ee
aif a pee”. | LA
accompanied by a powerful post-show discussion We continued to monitor our carbon footprint
with Exeter Food Bank. We welcomed back English via Julie’s Bicycle and we worked with architects
Touring Opera along with Jasmin Vardimon Dance, Austin Smith Lord to ensure that sustainability
Ballet Cymru and Northcott Associate Artist Richard and inclusion is a prime consideration for any
Chappell and hosted a South West premier for capital development work at The Northcott and
Australian contemporary dance artist Lewis Major. Barnfield Theatres. Plans and associated costings
Work for families continued to grow this year are being drawn up to make the backstage area
with a string of early years classics mixed with of the Northcott more accessible whilst an energy
interactive shows for older kids. and access options appraisal for the Barnfield
----- End of picture text -----

We continued to monitor our carbon footprint via Julie’s Bicycle and we worked with architects Austin Smith Lord to ensure that sustainability and inclusion is a prime consideration for any capital development work at The Northcott and Barnfield Theatres. Plans and associated costings are being drawn up to make the backstage area of the Northcott more accessible whilst an energy and access options appraisal for the Barnfield development is underway.

Meanwhile, next door at the 1,400 seat Great Hall, we presented inspirational talks and comedy including our first two-show two-show sell out evening with evening with with Jack Whitehall and attracted attracted audiences from from all over the UK to the UK to UK to to Exeter.

----- Start of picture text -----
Hall, we presented inspirational talks and comedy )
including our first two-show two-show sell out evening with evening with with ee Beat
Jack Whitehall and attracted attracted audiences from from all Yiad/, i ss IF ij pe—
over the UK to the UK to UK to to Exeter. bi 4 A ‘Ing. Flip il, ral Pee ot
pa €& f C=. _ —s
ie ok Zz ae, | We encourage our audiences to take the ‘green
' “ed ee option’ and travel by public transport. In 2022/23
—— 5, oe Se— ‘4 qT we‘green Offeredmatinees’ discountedand getting to tickets for the those theatre attending via
GREEN public transport. This year we replaced all of
OPTIONS our single-use glasses with re-usable cups and a
This year we year we we significantly invested (£100k) in deposit scheme saving an estimated 13,240 wasted
the sound and lighting equipment equipment at both the plastic cups. We switched to digital tickets, reduced
Northcott and Barnfield Theatre to increase our the use of printed materials and banned single-use
resilience and improve our carbon carbon footprint. pull up banners from our building. We made the
While there is still a wish list in this area, we have decision to stop selling plastic illuminated toys at
addressed the most immediate risks around Christmas and replace them with multi-use, more
equipment failure and poor audience/visiting sustainable toys.
----- End of picture text -----

This year we year we we significantly invested (£100k) in the sound and lighting equipment equipment at both the Northcott and Barnfield Theatre to increase our resilience and improve our carbon carbon footprint. While there is still a wish list in this area, we have addressed the most immediate risks around equipment failure and poor audience/visiting company experience, minimising repairs and saving resources.

21

ES | EDI Awareness training is now delivered as a kid part of every induction of a new staff member. We have an EDI action plan which is regularly a reviewed and updated. és — In 2022/23 we created and delivered a bs oH Menopause and Trans Equality Policy as part of “a a our ongoing policy review to ensure that all our at rag y a working practices are accessible and inclusive. —— We share our values and values statement with all people we work with. These help PEOPLE form part of our welcome, and set out our Inclusivity is a core tenet of how the Northcott expectations on wore practices and establish operates. We continue to develop and drive Clear Reparhing Ines 1Gr any concerns 6 melp our re ; empower all people who we work with. We practice in this area in a number of ways: plan to go one step further by introducing We monitor the diversity of our staff, an access rider for all new employees and volunteers and freelancers so that we have casuals to start the conversation around needs an accurate picture of the different people (access, caring etc.) as early as possible in their that work with us. We also collect monitoring relationship with us. data for all applicants applying to work for us , ; We have also extended our gaze to look at the to apply— this forletsroles, us knowand who wewho we areare attractingnot long-term work force planning and ensuring ; that the industry as whole is working towards reaching so that we can evaluate and adjust our approach accordingly., Our recruitment; removing barriers to entry. We have partnered process is thorough, robust and inclusive, ; — we with Speakers for Schools to offer a number seek to remove all barriers; for applicants; and of online and in person experiences for young ; ; people both locally and nationally, with a reimburse any expenses incurred. particular focus on those from lower socioWe continue to push for progress in increasing economic backgrounds. diversity within all areas of our workforce — we have conducted access training for all our staff, casuals and volunteers, to ensure that ‘You have made it so easy to volunteer. It’s an inclusive welcome is at the forefront of our great to be part of a fantastic crew’ work. We hope to drive forward some of the actions and outcomes from the training over the next few months.

----- Start of picture text -----
- eae oar ee
é " , %
yn
----- End of picture text -----

22

BUILDING A ROBUST FINANCIAL,

----- Start of picture text -----
|
4 }) 2
Kaea\ 1 ! } b url!
im Aa 3g +
s \ oe hy q : \
----- End of picture text -----

The attrition rate of salaried staff in the past 12 months has been higher that we would have liked at 15%, and it is hoped that some of the measures set out below will help to bring this number down. However, it is also worth noting, that in the past 12 months we have successfully recruited and filled five positions and, overall, the number of full-time equivalent employees during the year has grown from 31 to 33.

Our annual Performance Development Review process allows us to identify training and development needs which is key in retaining staff. In addition, a programme of People Management training was created and delivered last year to help support line managers. It is hoped that this in turn will help support a healthy culture and reduce turnover.

A focus on wellbeing in the workplace is paramount to attraction and retention of the people we work with. We currently offer all staff access to an online wellbeing platform — Spectrum Life — and we are monitoring its use. We will continue to review our wellbeing practices to make sure that they are as effective as possible. Our inaugural staff survey planned for September 2023 will help inform our priorities in this area.

The labour market is particularly volatile postpandemic, and the industry as a whole has

seen a large number of skilled workers leaving, and the expectations and priorities for workers has changed. This can result in challenges with staffing levels of skilled casual workers (particularly technical), and so a priority for the next few months will be to work with the Head of Technical identifying more ways we can attract and retain skilled workers to our casual pools and Howe can a and uppskil those who are looking to move into the industry.

The past 12 months have seen the creation of a Volunteer welcome pack and agreement — this, in addition to the introduction of regular coffee mornings and training opportunities, are actions we have taken to support a happy team of volunteers. We are also looking to partner with the Royal Albert Memorial Museum who have established a very successful volunteer programme to evaluate other ways we can work with volunteers, and how we can further improve their experience.

24

GOVERNANCE

PUBLIC BENEFIT

The Trustees have complied with their duty, as set out in the Charities Act 2011, to refer to the public benefit guidance published by the Charity Commission.

THE BOARD OF TRUSTEES

The Board of Trustees, which can have up to 16 members, administers the charity. The board meets at least four times a year and there is one sub-committee covering finance & resources which also meets four times a year. Most meetings of both groups continue to be held remotely to facilitate attendance and reduce our carbon footprint with the June Board meeting being the only one held in person this year. The November meeting of the Finance and Resources Committee also acts as the Annual General Meeting of the ENT Trading Company.

The Board has responsibility for budget approval, strategic planning, risk management and organisational policies while delegating operational leadership, action planning and financial management to the Joint Chief EXGCULIVES:

APPOINTMENTS

The 2022/23 financial year has seen some changes in the make-up of the Board, particularly with regard to the University nominees where all four have changed either within the twelve-month period or shortly after,

There were two successful rounds of recruitment which has seen a new student trustee joining the Board, with a second student attending as an observer ahead of taking up the role in May 2023. We were also successful in recruiting a Trustee with considerable finance expertise and they have

agreed to sit on the Finance & Resources Committee as well as the main Board.

INDUCTION AND TRAINING

On their appointment, new Trustees are provided with information on their legal obligations under charity and company law, the Charity Commission guidance on public benefit and the content of theMemorandum and Articles of Association. The induction programme provides specific sessions on finance, the artistic programme, HR policies and health and safety, creative engagement, and marketing and development. Trustees are actively encouraged to engage in additional training that will facilitate the undertaking of their role and their engagement with the wider organisation.

RELATED PARTIES

None of our Trustees receive remuneration for their work as a Trustee, although one Trustee received a small honorarium (£100) for helping to facilitate a community event involving a group with which they have established links. Trustees and senior managers of the charity are reminded at each meetinga production thatcompany, any connectioncontracted withactor, performer or exhibitor must be disclosed to the full Board of Trustees in the same way as any other contractual relationship with a related party.

The charity’s wholly owned subsidiary, ENT Trading Limited was established to operate the commercial bar, catering and front of house facilities at the theatre. ENT Trading Limited has a licence from the charity to operate those facilities and gift aids all its profits to the charity (see note 10 to the accounts)

25

RISK MANAGEMENT

Resources Committee and the Board of Trustees during the financial year with a particular focus on cost control and forecasting.

The theatre maintains a risk register that during the financial year with a particular focus identifies key business risks and associated on cost control and forecasting. mitigation strategies. This was substantially We continue to work in a largely hybrid restructured to reflect the themes of the pattern and this has been beneficial for staff current Business Plan and is reviewed regularly wellbeing. Throughout this financial year we by management and trustees. have continued to segregate backstage areas The highest risks for the organisation are as far as possible to minimise the opportunities around our ability to secure sufficient touring for transmission of illnesses, although this was work. In general, audience demand for our reviewed over the summer of 2023 and has diverse programme has been good, but we face now largely been phased out. challenges in being able to programme with The Health and Safety Committee, chaired the density we would wish. This lack of touring by the Finance & Operations Director, meets work represents a risk both in terms of ticket monthly and reports to both the Finance & revenues and ancillary earnings through the Resources Committee and the Beard. A Tull Trading Company. The economics of touring review of all risk assessment and safe systems also meaning that harder financial deals are of work has been undertaken by an external being driven by the visiting companies and this vensuitant and the new deoumentatien is is impacting the profit margins on these works. now being reviewed and embedded with the Robust oversight of our performance against appropriate teams. budget has been provided by the Finance &

FINANCE

PAY POLICY

The extensive review of the pay structure in February 2022 saw considerable rises in wages across the organisation as a start to addressing the historic low pay rates that are common in the sector. The revised structure and payrates were introduced at that time for the period up to the end of July 2023. The Board has approved a 5% increase across the organisation effective from 1 August 2023. Pay rates for all staff are set as part of the annual budget setting process and are informed by ONS inflation data, sector benchmarking, affordability and other organisational factors.

FINANCIAL REVIEW & RESERVES

The financial performance of the Northcott continues to be impacted by the changes in the sector post-pandemic which has, most notably, disrupted the supply chain of touring productions. Changes in audience demand has also become increasingly apparent and programming has been adjusted to meet this. As an organisation that has been over 85% dependant on earned income the changes have negatively affected its main income streams. However, the organisation has been diligent in controlling costs where possible and the organisation remains solvent and financially stable at a time when this has not been the case for all arts organisations.

Our total income for the year was £2,913,431 (£2,996,666 in 2021/22). This is disappointing but not surprising given the volitality in the presented programme through the year. Our net position was a deficit of £53,653 compared to a surplus of £178,851 achieved in 2021/22. This was significantly less than was anticipated when the original budget was set for the year and a good outcome given the strategic investment in equipment and facilities made in the year. The loss represents less than 2% of income.

26

Income from productions totalled £1,621,631 compared to £1,721,671 last year, demonstrating the difficult environment when it comes to footfall and financial deal making.

Core funding from Exeter University amounted to £207,000 compared to £205,000 for the previous year, although Exeter City Council Public Authority Support was reduced to £57,000 from £65,000 in light of budget challenges facing the Council. The continued support of Arts Council England with core funding of £127,300 has been crucial and has been confirmed for the next three years through the announcement of continued National Portfolio Organisation (NPO) status. Other smaller grants have been secured from a variety of funders to support our programme of creative engagement events and programmes.

Our Reserves Policy is structured in a way that aims to mitigate specific financial risks to the organisation. It identifies designated funds to underpin our resilience in terms of the artistic programme, the fabric of our buildings and the renewal of our theatrical equipment. It also recognises that, although the net book value of our fixed assets appears within the calculation of our reserves, this value does not represent resource that is immediately available to the organisation in terms of realisable cash.

At the September 2023 Board meeting, Trustees requested that the target figure for Free Reserves be reviewed and adjusted to cover 3 months of winding up costs. This work has now been done and the figure has been set at £385,905 for 2023-24.

Reserves Policy
Designated Fund- Artistic Fund £100,000
Designated Fund- Building Refurbishment £100,000
Designated Fund- Equipment Renewal £100,000
3 months of winding up costs £385,905
NBV offixed assets £176,928
Undesignated free reserves £115,829
Totalunrestrictedreserves £978,662

The Trustees are pleased to report the charity has total reserves of £1,037,531 (2021/22 - £1,091,184) with the balance being £58,869 of restricted reserves (2021-22 — £101,400). While this is a healthy position in which to close the year, there will be significant calls on these reserves in 2023-24 as a one-year deficit budget has been agreed by the Board. This decision was taken by Trustees in recognition of a potential suppression of audience demand due to the cost of living crisis, increased overhead costs relating largely to fuel bills, the challenges around the density of programming and the economics of touring, and the continued consolidation of programming at the Barnfield and the Great Hall. It is vital that the focus still remains on controlling costs, offering a diverse programme and securing funding streams in order to protect the charity and continue the work of the Northcott.

b] RESPONSIBILITIES

|

TRUSTEES’

The charity trustees (who are also the directors of the Exeter Northcott Theatre for the purposes of company law) are responsible for preparing a trustees’ annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards.

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 Charities Act 2011 and the Companies Act 2006. They 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:

there is no relevant audit information of which the charitable company’s auditor is unaware; and

the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information.

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

Approved and signed on behalf of the trustees on 25 March 2024.

Becky Chapman and David Balcombe

Exeter Northcott Theatre Company

Independent Auditor’s Report to the Members of Exeter Northcott Theatre Company

Year Ended 31 July 2023

Opinion

We have audited the financial statements of Exeter Northcott Theatre Company (the 'Charity') and its subsidiaries (the ‘Group’) for the year ended 31 July 2023, which comprise the Statement of Financial Activities incorporating Income and Expenditure Account, Balance Sheet, Statement of Cash Flows, 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 (United Kingdom Generally Accepted Accounting Practice), including FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland’.

In our opinion the financial statements:

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 Group 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 group's ability to continue as a going concern for a period of at least twelve months from when the original financial statements were authorised for issue.

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 annual report other than the financial statements and our auditor’s report thereon. 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.

30

Exeter Northcott Theatre Company

Independent Auditor’s Report to the Members of Exeter Northcott Theatre Company

Year Ended 31 July 2023

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.

Opinion on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the Group and the Charity and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

Responsibilities of Trustees

As explained more fully in the Statement of Trustees' Responsibilities set out on page 28, the Trustees 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 that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group'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 Group or the Charity 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.

31

Exeter Northcott Theatre Company

Independent Auditor’s Report to the Members of Exeter Northcott Theatre Company

Year Ended 31 July 2023

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the group and the industry/ sector in which it operates to identify the key laws and regulations affecting the entity. As part of this assessment process we held discussions with management. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements, primarily FRS 102 (effective 1 January 2019) - (Charities SORP), the Companies Act 2006 and the Charities Act 2011.

As part of our audit planning we obtained an understanding of the legal and regulatory framework that is applicable to the group and the industry/ sector in which it operates to identify the key laws and regulations affecting the entity. As part of this assessment process we held discussions with management.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the group’s ability to operate or to avoid a material penalty.

We discussed with management how the compliance with these laws and regulations in monitored and discussed policies and procedures in place.

We also identified the individuals who have responsibility for ensuring that the group complies with laws and regulations and deals with reporting any issues if they arise.

As part of our planning procedures, we assessed the risk of any non-compliance with laws and regulations on the group’s ability to continue trading and the risk of material misstatement to the accounts.

Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations. Our procedures included the following:

As part of our enquiries we discussed with management whether there have been any known instances, allegations or suspicions of fraud of which there were none.

We also evaluated the risk of fraud through management override including that arising from management's incentives. The key risks we identified were the manipulation of the financial statements (including the risk of override of controls) and we determined that the principal risks were related to fraudulent financial reporting, in particular to fraud in revenue recognition and grant funding received.

In response to the identified risk, as part of our audit work we:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements. This risk increases the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements as we are less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment, collusion, omission or misrepresentation.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

32

Exeter Northcott Theatre Company

Independent Auditor’s Report to the Members of Exeter Northcott Theatre Company

Year Ended 31 July 2023

Use of our report

This report is made solely to the Charity's Members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Charity's Members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Charity and its Members, as a body, for our audit work, for this report, or for the opinions we have formed.

Martin Hobbs BSc ACA (Senior Statutory Auditor) PKF Francis Clark, Statutory Auditor

Sigma House Oak View Close Edginswell Park Torquay TQ2 7FF

Date: 18 April 2024

33

Exeter Northcott Theatre Company

Statement of Financial Activities (Incorporating Income & Expenditure Account) - Group Year Ended 31 July 2023

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2023 2023 2023 2022 2022 2022
Notes £ £ £ £ £ £
Income
Donations and legacies 91,548 19,524 111,072 37,733 9,868 47,601
Charitable activities 3 2,124,780 70,790 2,195,570 2,410,884 253,364 2,664,248
Other Income 172,157 - 172,157 - - -
Commercial trading operations 430,581 - 430,581 254,492 - 254,492
Investment income 4,051 - 4,051 325 - 325
Total income 2,823,117 90,314 2,913,431 2,703,434 263,232 2,966,666
Expenditure
Commercial trading operations 219,256 - 219,256 236,944 - 236,944
Charitable activities 4 2,614,983 132,845 2,747,828 2,060,498 490,373 2,550,871
Total expenditure 2,834,239 132,845 2,967,084 2,297,442 490,373 2,787,815
Net income/(expenditure) (11,122) (42,531) (53,653) 405,992 (227,141) 178,851
Total funds at1August 2022 989,784 101,400 1,091,184 583,792 328,541 912,333
Totalfundsat31July 2023 978,662 58,869 1,037,531 989,784 101,400 1,091,184

All income and expenditure derive from continuing activities.

34

Exeter Northcott Theatre Company

Statement of Financial Activities (Incorporating Income & Expenditure Account) - Charity

Year Ended 31 July 2023

Unrestricted Restricted Total Unrestricted Restricted Total
Funds Funds Funds Funds Funds Funds
2023 2023 2023 2022 2022 2022
Notes £ £ £ £ £ £
Income
Donations and legacies 72,242 19,524 91,766 39,601 34,868 74,469
Charitable activities 3 2,124,780 70,790 2,195,570 2,410,884 253,364 2,664,248
Other Income 172,157 - 172,157 - - -
Investment income 4,051 - 4,051 325 - 325
Total income 2,373,230 90,314 2,463,544 2,450,810 288,232 2,739,042
Expenditure
Charitable activities 4 2,394,475 132,845 2,527,320 2,060,498 515,373 2,575,871
Total expenditure 2,394,475 132,845 2,527,320 2,060,498 515,373 2,575,871
Net income/(expenditure) (21,245) (42,531) (63,776) 390,312 (227,141) 163,171
Total funds at1August 2022 972,234 101,400 1,073,634 581,922 328,541 910,463
Totalfundsat31July 2023 950,989 58,869 1,009,858 972,234 101,400 1,073,634

All income and expenditure derive from continuing activities.

35

Exeter Northcott Theatre Company

Balance Sheet - Group

31 July 2023

Notes 2023 2022
£ £
Fixed assets
Intangible fixed assets 7 1,212 6,062
Tangible fixed assets 8 175,770 104,509
176,982 110,571
Current assets
Stock 9 12,861 11,030
Debtors 12 431,977 539,387
Cash at bank and in hand 13 1,341,671 990,153
1,786,509 1,540,570
Creditors - amounts falling
due within one year 14 (925,960) (559,957)
Net current assets 860,549 980,613
Net assets 1,037,531 1,091,184
Funded by:
Unrestricted funds 978,662 989,784
Restricted funds 16 58,869 101,400
Totalgroupfunds 17 1,037,531 1,091,184

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006, relating to small companies.

Approved by the Board of Trustees on 25/03/24 and signed on its behalf by

Becky Chapman David Balcombe Company Registration Number: 08393145

36

Exeter Northcott Theatre Company

Balance Sheet - Charity

31 July 2023

Notes 2023 2022
£ £
Fixed assets
Intangible fixed assets 7 1,212 6,062
Tangible fixed assets 8 162,717 90,769
Investment in subsidiary 10 1 1
163,930 96,832
Current assets
Debtors
Cash at bank and in hand		 12
13		 518,842
1,238,955		 676,581
806,764
1,757,797 1,483,345
Creditors - Amounts falling
due within one year 14 (911,869) (506,543)
Net current assets 845,928 976,802
Net assets 1,009,858 1,073,634
Funded by:
Unrestricted funds 950,989 972,234
Restricted funds 16 58,869 101,400
Totalcharityfunds 17 1,009,858 1,073,634

The financial statements have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006, relating to small companies.

Approved by the Board of Trustees on 25/03/24 . _ and signed on its behalf by

Becky Chapman David Balcombe

Company Registration Number: 08393145

37

Exeter Northcott Theatre Company

Statement of Cash Flows - Group

31 July 2023

2023 2022
£ £
Reconciliation of net movement in funds to
net cash flow from operating activities:
Net movement in funds (53,653) 178,851
Depreciation and amortisation 48,930 36,672
Interest income (4,051) (325)
(Increase) in stocks (1,831) (7,967)
Decrease/(increase) in debtors 107,410 (177,801)
Increase/(decrease) in creditors 366,003 (45,849)
Net cash generated from/(used in) operating activities 462,808 (16,419)
Cash flows from investing activities
Interest income 4,051 325
Acquisition oftangible fixed assets (115,341) (52,770)
Cash used in investing activities (111,290) (52,445)
Increase/(decrease) in cash and cash equivalents in the year 351,518 (68,864)
Cash and cash equivalents at the beginning ofthe year 990,153 1,059,017
Cashandcashequivalentsattheendoftheyear 1,341,671 990,153

38

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

  1. Accounting policies

a) Basis of accounting

The financial statements have been prepared under the historical cost convention with items being recognised at cost or transaction value unless otherwise stated in the notes to these accounts.

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 (FRS102) (effective 1 January 2015) — (Charities SORP (FRS 102)), and with the requirements of the Companies Act 2006).

The Statement of Financial Activities and Balance Sheet consolidate the financial statements of the Charity and its subsidiary on a line by line basis.

The charity constitutes a public benefit entity as defined by FRS102.

The functional and presentational currency is sterling.

b) Going concern

The charity continues to rely on the annual support of a number of grant making bodies, as set out in the Trustees' Report. Based on information received to date, the directors have no reason to believe that this support will not continue. These accounts have therefore been prepared on a going concern basis.

Cc)

Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by the donors or which have been obtained by the charity for particular purposes. The majority of restricted funds relate to enhancement of the theatre & performances shown.

d) Critical accounting judgements and key sources of estimation uncertainty

In application of the charitable company’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods. The critical judgement that the trustees have made in the process of applying the company’s accounting policies is the composition of the key management personnel, as detailed in note 6 below.

39

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

e) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the income have been met, it is probable that the income will be received and the amount can be measured reliably.

Voluntary income including grants, donations, gifts and legacy income is recognised when there is entitlement, receipt is probable and the amount can be measured with sufficient reliability.

Investment income and administration recharges are recognised on a receivable basis. Income from commercial trading activities is recognised when the goods and services are provided.

f) Expenditure

Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and this is reported as part of the expenditure to which it relates:

g) Tangible and Intangible assets and depreciation

Tangible and intangible assets are included at cost and the capitalisation threshold is £150.

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 on a straight line basis as follows:-

IT, Fixtures and Fittings 3-10 years Website Costs 3 years

h) Operating lease agreements

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

i) Stock

Stock is valued at the lower of cost and net realisable value, after due regard for obsolete and slow moving stocks.

j) Investments

The company’s investment in its subsidiary undertaking is included at cost.

40

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

1 Accounting policies (continued)

k) Defined contribution pension obligation

The Charity operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the Charity. The annual contributions payable are charged to the statement of financial activities.

l) Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. The company holds the following financial instruments, all of which are considered to be basic:

m) Accounting for distributions

The annual donation from the subsidiary company is recognised in the period in which the donation is received.

2 Charitable status

The charity is a company limited by guarantee and is registered with the Charity Commission for England and Wales. The members of the company are the trustees named on page 3. In the event of the charity being wound up, the liability under the guarantee is limited to £1 per member of the charity.

The charitable company is incorporated in England and Wales.

3 Income from charitable activities

Income from charitable activities
Group Charity Group Charity
2023 2023 2022 2022
£ £ £ £
Productions 1,621,631 1,621,631 1,721,671 1,721,671
Grants 405,015 405,015 854,136 854,136
Venue hire and wardrobe income 168,924 168,924 88,441 88,441
2,195,570 2,195,570 2,664,248 2,664,248

Income from charitable activities represents £2,124,780 of unrestricted income (2022: £2,410,884) and £70,790 of restricted income (2022: £253,364).

Included within grant income from charitable activities are the following amounts received from government and other public authorities.

Group Charity Group Charity
2023 2023 2022 2022
£ £ £ £
Arts Council 127,300 127,300 127,300 127,300
Arts Council—Cultural Recovery Fund - - 122,722 122,722
Exeter City Council 57,000 57,000 65,000 65,000
CoronavirusJobRetentionScheme - - 13,596 13,596

41

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

4 Analysis of charitable expenditure

Group

Group
Venue Hire &
Production Wardrobe Total
£ £ £
Production costs 862,086 89,803 951,889
Wages 1,043,153 108,665 1,151,818
Consultancy 30,360 3,163 33,523
Property costs 288,897 30,094 318,991
Depreciation 44,314 4,616 48,930
Bank charges 19,931 2,076 22,007
Marketing 121,978 12,706 134,684
Travel 3,461 361 3,822
Office costs 35,780 3,727 39,507
Staff welfare 1,687 176 1,863
Governance 11,668 1,215 12,883
Audit fees 20,224 2,107 22,331
Conference and training 5,054 526 5,580
Total 2,488,593 259,235 2,747,828

Expenditure on charitable activities was £2,747,828 (2022: £2,550,871) of which £2,614,983 was unrestricted (2022: £2,060,498) and £132,845 was restricted (2022: £490,373).

Charity

Charity
Venue Hire &
Production Wardrobe Total
£ £ £
Production costs 864,769 90,082 954,851
Wages 841,388 87,647 929,035
Consultancy 30,360 3,163 33,523
Property costs 288,897 30,094 318,991
Depreciation 43,692 4,551 48,243
Bank charges 19,931 2,076 22,007
Marketing
Travel		 121,978
3,461		 12,706
361		 134,684
3,822
Office costs 35,780 3,727 39,507
Staff welfare 1,687 176 1,863
Governance 11,668 1,215 12,883
Audit fees 20,224 2,107 22,331
Conference and training 5,054 526 5,580
Total 2,288,889 238,431 2,527,320

Expenditure on charitable activities was £2,527,320 (2022: £2,575,871) of which £2,614,983 was unrestricted (2022: £2,060,498) and £132,845 was restricted (2022: £515,373).

42

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

5 Summary analysis of expenditure and related income for charitable activities

The following tables show the cost of the two main charitable activities and the sources of income that directly support those activities.

Group Venue Hire &
Production Wardrobe Total
£ £ £
Costs 2,488,593 259,235 2,747,828
Venue and equipment hire income - (168,924) (168,924)
Box office income (1,621,631) - (1,621,631)
Direct grant support (350,564) (54,451) (405,015)
Other income (172,157) - (172,157)
Netcostfundedfromotherincome 344,241 35,860 380,101

6 Analysis of staff costs, trustee remuneration and expenses, the cost of key management personnel and related party transactions - group

2023 2022
£ £
Wages and salaries 1,050,887 899,889
Social security costs 80,652 67,072
Pension costs 20,279 16,698
1,151,818 983,659

In addition to the above amounts, E£nil (2022: £12,162) was paid to a self-employed member of key management.

The average number of employees (headcount) during the year was:

2023 2022
Number Number
Sales 31 19
Productions
Administration
Development and education		 18
6
4		 12
4
9
59 44
The average number of full-time equivalent employees during the yearwas:
Sales 12 10
Productions
Administration		 14
5		 11
4
Development and education 2 6
33 31

43

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

6 Analysis of staff costs, trustee remuneration and expenses, the cost of key management personnel and related party transactions — group (continued)

The key management personnel comprise the Artistic and Executive Director, the Finance and Operations Director and the Marketing and Development Director. The aggregate employee benefits payable to key management personnel for the year was £149,588 (2022: £177,637).

No remuneration or expenses were paid to trustees during the year (2022: £nil) in respect of their services as trustees.

During the year remuneration of Enil (2022: £350) was paid to J Leyland for freelance work. Amounts outstanding at the year-end were Enil (2022: Enil).

There were no other transactions with related parties.

7 Intangible fixed assets — group and charity

Intangible fixed assets — group and charity
Website
Costs		 Website
Costs
2023 2022
£ £
Cost
At 1 August 2022 14,550 14,550
Additions : ;
At 31 July 2023 14,550 14,550
Amortisation
At 1 August 2022 (8,488) (3,637)
Charge for the period (4,850) (4,851)
At 31 July 2023 (13,338) (8,488)
Net Book Value
At 31 July 2023 1,212 6,062
At31July2022 6,062 10,913

44

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

8 Tangible fixed assets

Group

Group
IT, Fixtures IT, Fixtures
& Fittings & Fittings
2023 2022
£ £
Cost
At 1 August 2022 278,004 225,234
Additions
Disposals		 115,341
(7,882)		 52,770
-
At 31 July 2023 385,463 278,004
Depreciation
At 1 August 2022 (173,495) (141,674)
Charge for the period (44,080) (31,821)
Disposals 7,882 -
At 31 July 2023 (209,693) (173,495)
Net Book Value
At 31 July 2023 175,770 104,509
At 31 July 2022 104,509 83,560
Charity
IT, Fixtures IT, Fixtures
& Fittings & Fittings
2023 2022
£ £
Cost
At 1 August 2022 252,565 213,535
Additions 115,341 39,030
Disposals (7,882) -
At 31 July 2023 360,024 252,565
Depreciation
At 1 August 2022 (161,796) (129,975)
Charge for the period (43,393) (31,821)
Disposals 7,882 -
At 31 July 2023 (197,307) (161,796)
Net Book Value
At 31 July 2023 162,717 90,769
At31July2022 90,769 83,560

45

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

9 Stock - group

2023 2022
£ £
Goods for resale 12,861 11,030
10 Investments - charity
2023 2022
£ £
Sharesinsubsidiary 1 1

11 Subsidiary undertakings

The charitable company has a wholly owned subsidiary, ENT Trading Limited, company number 08543930, a company which attends to the sale of food and beverages in the theatre. The registered office of this company is Exeter Northcott Theatre, Stocker Road, Exeter, EX4 4QB.

The results of ENT Trading Limited were as follows:

Year ended Year ended
31 Jul 2023 31 Jul 2022
£ £
Turnover 467,797 254,492
Cost of sales (254,019) (117,133)
Administrative expenses (185,744) (119,448)
Operating Profit 28,034 17,911
Donations (17,911) (1,869)
Tax - (363)
Profit (Loss) for the year 10,123 15,679
At At
31 Jul 2023 31 Jul 2022
£ £
Assets
Liabilities		 129,198
(101,526)		 208,307
(190,758)
Shareholders’funds 27,672 17,549

46

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

12 Debtors: due within one year
Group Charity Group Charity
2023 2023 2022 2022
£ £ £ £
Trade debtors 71,436 71,356 92,884 92,199
Amount due from group undertaking - 84,463 - 137,341
Prepayments 52,439 52,439 55,901 55,901
Othertaxes and social security 68,951 68,951 39,362 39,362
VAT - - 30,387 30,357
Other debtors 239,151 241,633 320,853 321,421
431,977 518,842 539,387 676,581
13 Cash at bank and in hand
Group Charity Group Charity
2023 2023 2022 2022
£ £ £ £
Cash at bank and in hand 1,341,671 1,238,955 990,153 806,764
14 Creditors: due within one year
Group Charity Group Charity
2023 2023 2022 2022
£ £ £ £
Trade creditors 117,292 114,300 239,950 186,779
Deferred income (note 15) 4,035 4,035 3,365 3,365
Accruals 49,368 49,368 28,512 28,512
Othertaxes and social security 17,861 17,861 20,820 20,820
VAT 37,873 28,203 - -
Other creditors 699,531 698,102 267,310 267,067
925,960 911,869 559,957 506,543
15 Deferred income
Group Charity Group Charity
2023 2023 2022 2022
£ £ £ £
Balance as at 1 August 2022 3,365 3,365 2,425 2,425
Amount released to income (3,365) (3,365) (2,425) (2,425)
Amount deferred in year 4,035 4,035 3,365 3,365
Balanceasat31July2023 4,035 4,035 3,365 3,365

47

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

16 Restricted funds

Year ended 31 July 2023

Year endedended 31 July 2023
Balance at Balance at
01/08/2022 Income Expenditure 31/07/2023
£ £ £ £
Restricted Fund
Exeter City Council 43,333 57,000 62,333 38,000
ECC - Bursaries forYoung People/NYC - 6,000 1,300 4,700
Viscount Amory 1,667 - 1,667 -
Heritage Lottery Fund 24,862 - 24,862 -
University of Exeter 11,001 - 6,001 5,000
Patron Donation 932 - 932 -
Exeter Foundation 547 - 541 6
Claire Milne 134 - - 134
Bruce Wake Charitable Trust 2,000 - - 2,000
ESF Tech Futures grant - 15 15 -
Awards for all 9,505 - 9,505 -
Devon County Council - 275 275 -
Point of sale restricted donations 1,869 19,524 13,114 8,279
Donation- Finding my voice - - - -
Patron Donation 550 - 550 -
Veronica Awdry Charitable Trust 5,000 - 5,000 -
Barnfield Grant - 5,500 5,500 -
Barnfield Grant—Warm Space Grant - 500 500 -
Locality GrantAward — Encompass Group - 1,500 750 750
Totalrestrictedfunds 101,400 90,314 132,845 58,869

48

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

16 Restricted funds (continued)

The Theatre receives restricted funding from:

Exeter City Council Core Grant - Towards core costs Exeter City Council - Towards Kickstart placements Viscount Amory _ TowardsCompanyoutreach in low-income communities and Young HLF - Towards Heritage Lottery Archive project European Social Fund - Towards Tech Futures University of Exeter _ Towards flying equipment and refurbishment of auditorium seating Exeter Foundation - Towards Digital Streaming equipment Claire Milne - Towards evacuation equipment Bruce Wake Charitable Trust - Towards stairlift Patron Donation - Donation for Antigone UoE - Towards refurbishment of auditorium seating Point of sale restricted donations - Towards support for Artists and Young people Veronica Awdry Charitable Trust - Towards new signage at the Barnfield Theatre Patron Donation- Mrs Lant - Towards access measures Awards for All - Towards Creative Connections Devon County Council _ TowardsConnectionscommunity engagement and Creative Donation- Finding my Voice _ Luke's,Donation£1kfromWhiptoneach ofBarton three participating schools £2k St

Barnfield Grant

Barnfield Grant- Warm Space Locality Grant

The Barnfield Grant was the final closing balance following ___ theENTwindingas per theup ofBusiness the BarnfieldTransferTheatre AgreementTrust transferredfor use to specifically on the Barnfield.

__ Toinitiativesupportat thethe Barnfieldprovision under the 'Warmer Spaces' - To support the Encompass Group

49

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

16 Restricted funds (continued)

Year ended 31 July 2022

Year endedended 31 July 2022
Balance at Balance at
01/08/2021 Income Expenditure 31/07/2022
£ £ £ £
Restricted Fund
Exeter City Council 43,333 65,000 65,000 43,333
Viscount Amory 6,667 - 5,000 1,667
Heritage Lottery Fund 98,928 - 74,066 24,862
John Nettles Donation 7,527 - 7,527 -
University of Exeter 67,214 - 56,213 11,001
Esmée Fairbairn Foundation 37,737 - 37,737 -
Patron Donation 3,824 - 2,892 932
Western Jerwood Bursary 8,190 - 8,190 -
Exeter Foundation 1,845 - 1,298 547
Idlewild Trust 3,050 - 3,050 -
The Mackintosh Foundation 3,000 - 3,000 -
National Lottery 2,210 - 2,210 -
Claire Milne 134 - - 134
Bruce Wake Charitable Trust 2,000 - - 2,000
Northbrook Community Trust 21,180 - 21,180 -
ESF Tech Futures grant 12,002 (3,352) 8,650 -
Arts Council — CRF2 - 122,722 122,722 -
Point of sale restricted donations - 9,868 7,999 1,869
ECC Kickstart 9,700 43,014 52,714 -
Patron Donation - 1,050 500 550
Devon County Council - 2,960 2,560 -
Donation — Finding my Voice - 3,000 3,000 -
Thrive with 5 - 4,865 4,865 -
Awards for all - 9,505 - 9,505
Veronica Awdry Charitable Trust - 5,000 - 5,000
Totalrestrictedfunds 328,541 263,232 490,373 101,400

50

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

16 Restricted funds (continued)

The Theatre receives restricted funding from:

Exeter City Council Core Grant - Towards core costs
Exeter City Council - Towards Kickstart placements
_ Towards outreach in low income communities and Young
ViscountAmory Company
HLF - Towards Heritage Lottery Archive project
John Nettles - Towards Exeter Northcott Futures
John Nettles - Gift Aid - Towards Exeter Northcott Futures
University of Exeter - Towards flying equipment
Uni
:
niversity of Exeter		 - Towards funding for interns for heritage LotteryArchive
Bro}
roject
Esmée Fairbairn Foundation - Towards a Development & Enterprise Manager
Esmee Fairbairn - Towards Real Views Project
Patron Donation - Towards a new hearing loop
Western Jerwood Bursary - Towards Fellowship
Exeter Foundation - Towards Digital Streaming equipment
Idlewild Trust - Towards Exeter Northcott Futures
The Mackingtosh Foundation - Towards Exeter Northcott Futures
National Lottery - Towards BSL training and tickets
Patron Donations - Towards NYC bursaries
The National Lottery - Towards Creative Connections
Claire Milne - Towards evacuation equipment
Architectural Heritage Fund - Towards Barnfield viability study
Arts Council England - Cultural Recovery Fund 1
Bruce Wake Charitable Trust - Towards stairlift
Esmee Fairbairn Funding Plus - Towards evaluation support
Patron Donation - Donation for Antigone
Arts Council
- CRF2		 - Cultural Recovery Fund 2
Northbrook Community Trust - Towards Finding My Voice (Dept 535)
UoE - Towards refurbishment of auditorium seating
Point of sale restricted donations - Towards support for Artists and Young people
Arts Council — CRF3 - Cultural Recovery Fund 3
VeronicaAwdry Charitable Trust - Towards new signage at the Barnfield Theatre
Patron Donation- Mrs Lant - Towards access measures
Awards for All - Towards Creative Connections
_ Towards creative classes for parents with babies and
Thrive with 5 young children in Whipton and Beacon Heath
_ Towards community engagement and Creative
Devon County Council Connections
_ Donation from each ofthree participating schools £2k St
Donation-FindingmyVoice Luke's,£1kWhiptonBarton

51

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

17 Analysis of net assets between funds

Group

Fund balances at 31 July 2023 are represented by:

Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fixed assets 173,941 3,041 176,982
Current assets 1,730,681 55,828 1,786,509
Current liabilities (925,960) - (925,960)
Net assets 978,662 58,869 1,037,531
Fund balances at 31 July 2022 are represented by:
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fixed assets 98,639 11,932 110,571
Current assets 1,451,102 89,468 1,540,570
Current liabilities (559,957) - (559,957)
Net assets 989,784 101,400 1,091,184
Charity
Fund balances at 31 July 2023 are represented by:
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fixed assets 160,889 3,041 163,930
Current assets 1,701,969 55,828 1,757,797
Current liabilities (911,869) - (911,869)
Net assets 950,989 58,869 1,009,858
Fund balances at 31 July 2022 are represented by:
Unrestricted Restricted Total
Funds Funds Funds
£ £ £
Fixed assets 84,900 11,932 96,832
Current assets 1,393,877 89,468 1,483,345
Current liabilities (506,543) - (506,543)
Netassets 972,234 101,400 1,073,634

52

Exeter Northcott Theatre Company

Notes and Accounting Policies

Year Ended 31 July 2023

18 Operating Lease Commitments — Charity and Group

At 31 July 2023, the Charity and Group had total future minimum lease payments as follows:

2023 2022
£ £
In less than one year 27,858 35,234
Within two to five years 111,432 104,486
After more than five years 241,445 241,253
380,735 380,973

During the year lease payments totalling £35,234 (2022: £32,488) were recognised as an expense.

  1. Financial commitments

Group

The total amount of capital commitments not included in the balance sheet is £ Nil (2022: £91,515).

Charity

The total amount of capital commitments not included in the balance sheet is £ Nil (2022: £26,168).

53

EXEfE NORTH THEATR