Company Registration Number: 08658085
Charity Registration Numbor.. 1156472
TAUNTON THEATRE ASSOCIATION LIMITED
(A Company limited by Guarantee)
REPORT OF THE TRUSTEES AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
CONTENTS
Page
Company and Charity Information
Report of the Trustees
3-12
Trustees, Responsibilities Statement
13
Auditorfs Report
14-16
Consolidated Statement of Financial Activities
17
Consolldated Balance Sheet and Company Balance Sheet
18-19
Consolldated Statement of Cashflows
20
Notes to the Financial Statements
21-34

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
COMPANY AND CHARITY INFORMATION
Dirertors and Trustees
Mr. S Berg
Ms C de Bernhardt Lane
Mrs V J Berry 12.3
Mr C Cook
Mrs V Dawson
Mr E F Gaines
Mr R W Rowles
Mr A G Samuels
MrMRWatts
(Appointed 20 November 2023)
(Chair, known as Val Hammond)
{Appointed 23 October 2023)
(Resigned 31 August 20231
Member of Finance Committee
Member of Development and Fundraising Committee
Director of rrA Trading Ltd
Company number
08658085
Charlty number
1156472
Key Management Personnel
Executive Director
Mrs V S Robbins (nee Hobbs)
Registered offlce
The Brewhouse Theatre and Arts Centre
Coal Orchard
Taunton
TAI IJL
Website:
www.tauntonbrewhouse.co.uk
Professlonal Advisers:
Audltors
A C Mole LLP
Chartered Accountants & Statutory Auditors
Stafford House
Blackbrook Park Avenue
Taunton, Somerset TAI 2PX
Bankers
National Westminster Bank PIC
26-35 Fore Street
Taunton Somerset TAI IJQ
Legal Advlsors
Foot Anstey LLP
Senate Court
Southernhay Gardens
Exeter EXI INT

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number. 08658085
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2024
The Trustee5 present their annual report with financial statement5 of the charity for the year endin8 31 March
2024 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act
and Charity Commission purposes.
This year was one of recovery and consolidation after the previous challenging years. The work and experience
of this year is included under Review of the Year, Page 6. The following Administrative Information refers to our
standing procedures and prattices.
REFERENCE AND ADMINISTRATIVE INFORMATION: Constltutlon and Structure
Taunton Theatre Association Ltd is a registered Charity, No. 1156472, and a Company limited by guarantee and
not having a share capitsl. Taunton Theatre Association Ltd was incorporated on 20 August 2013 under the
Companies Act 2006, Registration No. 08658085. Membership is by invitation from the Board of Trustees and
Directors, Upon dissolution ofthe Company, members guarantee to pay the sum of £10 each. The trustees and
directors and principal advisers of the charity and company are listed on Page 2.
Taunton Theatre Association Ltd operates from the Brewhouse Theatre and Arts Centre In Taunton. Although
all contracts and other legal documents are as Taunton Theatre Association Ltd, its public face is as Taunton
Brewhouse. The building is leased from Somerset Councll, the Unltary Authorlty for Somerset which absorbed
the responsibilities of the former Somerset West and Taunton Counc51 on l Aprll 2023.
GOVERNANCE AND MANAGEMENT:
The charity's governing documents are its Memorandum and Articles of Associatlon. The goveming body of the
charity is the Board of Trustees who are also the directors of the company.
Recruitment and training of trustees
New trustees are sought by advertisement with responses reviewed having regard to the overall skill mix
required by the Board. Candidates are invited and appointed bythe whole Board of Trustees. Induction includes
sessions with existing Board members and the Executive Director and senlor staff as appropriate. A new trustee
may be appointed to the Board at any time durlng the year. The appolntment is confirmed at the Annual General
Meeting.
Organisatlonal Management
The Board 15 legally responsible for the overall management of the charity and meets quarterly wlth other
meetings as necessary. It currently comprises eight independent trustees who are also Members of the charity.
Two non-voting obseNers nominated by the Local Authority attend meeting as representatives of the owners
of the site, Somerset Council. One-third of trustees submit themsefves for re-election each year.
Our Executive Director is appointed by the Trustees with responsibility for leadership and management of the
charity and attends Board Meetings as senior Officer. To facilitate effective operations, the Executive Dirertor
has delegated authority within terms of delegation approved by the Trustees, for operational matters including
finance, employment, business development and plannin8. The Executive Dirertor has oversight of the overall
artistic direction of the company which is developed together with the Artistic Programmes Manager.
Standing Committees of the charity Board meet with appropriate officers at intervals throughout the year. In
addition, other committees may be formed from time to time to address issues. Regular meetings of the Board
are augmented by an away-day on an annual basis or as necessary.
Lead trustees advise on specific matters, e.g., finance. fundraising, legal matters. Public benefit and risks are
discussed by the Board following report5 by seniar staff.
Pay policy
The Board of trustees and directors consider the salary of the Executive Director who is charged with directing
and controllin& running, and operating the charity on a day-to-day basis. The trustees set guidelines for the pay
of the senior managementteam. Pay is reviewed annuallyto ensure people are rewarded to reflect performance
and market rates whilst being mindful of the charity's responsibility to consider its own financial position.

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
All trustees give of their time freely and receive no remuneration for their Board responsi bi lities. If contracted
to provide a specific service in the work of the Charity, e.g., as a theatre professional, they are paid the
appropriate fee.
Related Parties
The Charity'5 wholly owned subsidiary, Trading Ltd, operates Taunton Brewhou5e bar, ki05k5, sales of
merchandise and art works and the hire of all facilities when not required for the core purpose. It also manages
the contract for the provision of the on-site refreshment facilities. Any profits from these activitie5 are
transferred to Taunton Theatre As50Ci3tion Ltd by means of a charitable donation. rrA Trading Ltd also pays a
service charge to the Charity to cover costs associated with ThA Trading overheads and operating costs. The
charity and its subsidiary together comprise The Group.
Risk Management Process
The Board of Trustees 15 responsible for the management of risks faced by Taunton Theatre Association Ltd. The
Trustees are assisted by the Executive Director and Senior Team in identifying, assessing, and controlling these
risks.
Risks in 2023-24were categorised under Health and Safety, Staff and Governance, Assets and Equipment, Young
People (under 181, Finance and Fundin& Political and Public and are assessed for likelihood and impact with
mitigating actions.
Business Plans are approved by the Trustees and performance against plans is reported in Heads of Department
quarterly reports. Additionally, Somerset Council Observers attend Board Meetings to keep updated as
(Landlord and Grant Funderl on ThA's situation and performance.
OBJECTS AND AIMS
Charity object5
Taunton Theatre Association's formal objective is:
The advancement of education for the public benefit through the promotion and encouragement of the
performin8 a rts, the creative arts, and the visual arts by such means as the directors shall think fit, with
reference to {but without limitation} the County of Somerset.
Alms and Intended impact
Based on our 5-year strategic plan 2021-2026, our operational vislon, mission and values stand alongslde our
rebranding as Taunton Brewhouse.
Our Vlslon
We imagine a future where people and communities are liberated through artistlc expression, becoming
connected and considered equal. Our vision is that in the future, people from all over the world will fondly
remember TAUNTON BREWHOUSE.
Our Mission
Since 1977, TAUNTON BREWHOUSE has existed to welcome people locally and globally, to enjoy and participate
in a liberating programme of bold and brilliant artistic and creative experiences that inspire and transform our
individual and shared experience of the world.
Our Values
Ourfour values are at the heart of all that we do. These values are seen and felt through the spirit and attitude
of our people, programme, and creative community building confidence in Taunton Brewhouse as an inspiring
and generous place to vlslt and work.
Welcoming- we value open hearts, open minds, and welcome all to Taunton Brewhouse
Bold- We value bold artists and bold idea5, inspiring locally and globally
Collaborative - we believe meaningful collaboration can change the world. we work together to
create, play and learn
Resilient- We are committed to remaining Taunton's enduring centre for creative excellence.

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
How we achieve our purpose
The purpose of Taunton Theatre Association is achieved through holding the lease for Taunton Brewhouse and
offering at and from that base for the benefit of the public:
Programme of high-quality, diverse live performance
Delivering a learning and participation programme for all ages
Offering Youth Theatre to build and foster artistic talent
Producing an annual Christmas musical in the main house
Screening regular and event cinema
Curating and presenting visual arts and crafts exhibitions
Contributing activities for Brewhouse specific and other Taunton festivals
Supporting artists, particularly those in the Southwest to research and develop new work.
Our people
Senior team: Our Executive Director is Vickie Robbins (nee Hobbs). She leads a Senior Management Team:
Artistic Programmes Manager, Technical and Facilities Manager and Marketing Manager.
There were changes within the senior team during the year as the Marketing Manager resigned in December
2023 and was replaced in January 2024. Our Front of House Manager joined the senior team when she was
promoted in October 2023.
Employees: Our core employed team report to the managers Identlfied above. They include Management
Accountant, Youth and Programme Coordinator, Theatre Technician5, Front of House Supervlsor (later uplifted
to a management role}, H05Pltality Co-ordinator. Box Office and Marketing staff, and Duty Managers. They
perform at a high level whilst also giving guidance and training to our volunteers. The employed team volunteer
outside their paid area of expertise when necessary, expressing our strong belief in volunteering. We value
enormously their work and contribution.
Our volunteers: Our team of around 125 volunteers provide vital support for our work. Volunteers contribute
by taking part in Front of House, Bar, Marketing and Technical/Back-stage and help also with repairs and
redecoration and often act as our ambassadors. We are immensely grateful to them.
Our faclllties: The theatre buildings date from 1977 with later addltlons and are attached to an 18 century
house. We benefit from bein8 able to use these facilities whlch are now owned by Somerset Council for the
benefit of the community. Because of the unlque character of the building, a commercial value Is dlfflcult to
define althou8h it represents a real contributlon to publlc support for the arts in Taunton.
PUBLIC BENEFIT
Our public benefit offers education, inclusion, and wellbeing through the provision of cultural and arts
engagement for all ages.
Our beneflclarles
The year 2023-24 shows significant growth in the number of beneficiaries overall with those attending live
performances exceeding those recorded pre-pandemic. Cinema (films and transmissions from other venues)
have not recovered so stron8ly perhaps influenced by the increased number of live shows. Numbers attending
our facility as part of hires for classes and other events also show a signif icant increase and thi5 reflects a change
in the way activities are organised. They now include those directly managed {Creative Engagement} and
separately, those offered by others (Hires).
Results show that, taken as a whole. there were 81.000 unique attendances at 920 events. Thi5 varies from
those watching a live event in the Main Auditorium which has 352 seats (with 342 available for most shows)
through to 2-3 participants for booked visits to Father Christmas. Total attendance at all activities during this
year represented a record for Taunton Theatre Association.

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
YEAR
EVENT
2019-20
2020-21
2021-22
2022-23
2023-24
Events
Attendance
Events
Attendance
Events
Attendan
Events
Attendan
Events
Attendance
Llve
Performances
IMA & Studio)
Cinema Live
Tran5rnission5
Cinema
Screenin85
Creative
Eng
ement
Exhibitions
183
41,116
413
191
28,009
224
38,359
260
53,299
7,423
1,097
185
2,441
3,178
74
6,345
28
588
52
2,393
101
9,043
93
7,538
730
8,205
396
3,268
420
2,546
493
3,432
483
5,681
2,300
2,098
cl,000
3,093
3,793
2,170
9,182
Hire
events/cla5S85
oiher12020
109
47
10
N/K
TOTAL
1,050
65,389
475
7.464
671
34,133
962
60,161
920
81,048
Notes:
Years 2020-21 and 2021-22 were Impacted significantly by COVID wlth the theatre closed for periods.
Exhibition attendance is e5tirnated based on people viewing when the theatre Is open.
In 2023-24 Creatlve Engagement includes 246 5es51ons wlth Father Christmas and accounts for 750 partlclpants.
The opportunlty to beneflt
We aim to keep prices at affordable levels and offer further benefits through our Friends Scheme. When
circumstances and performing companles permit, we offer reduced price or multi-tickets to increase access. We
work with schools and colleges to bring young people to the arts elther by attending shows or by bringing their
own work to the theatre. Our 'Mini Frlend, lage 2-151 and 'Youn8 Friend, lage 16-251 offer reduced fee
Membership and benefits to encourage participation at these ages. For Christmas 2023 we organised a 'Pay-it-
Forward, Campaign where ticket buyers could donate to provide ticket5 for the Christmas show which were
distributed through the Foodbank. A similarscheme provides subsidised place5 on some programmes of Creative
Engagement.
We offer a Christmas showwith BSL interpretation, audio described and relaxed performances and aim to adapt
productions on request to make them fully accessible.
Attendance at exhibitions 55 free to all as is particlpatlon in activities at festivals throughout the year.
We also provided activitles through the 'Warm Spaces, programme to those that needed them through the
winter period.
People also benefit from attending arts activities at Taunton Brewhouse organised by those who hire our
facilities when not required for our own programmes and events. The numbers of those participatin8 in this way
are included in our list of benef icia ries for the first time thi5 year. As previously indicated, we served a record
number of beneficiaries thi5 year.
REVIEW OF THE YEAR 2023-24
In this year we made a sustained effort to leave behind the challenges of the pandemic and to move forward
with a strong programme covering live performance in the main auditorium and studio.. drama, dance, music
and comedy, along with our curated cinema programme embracing films and transmissions from other live
venues including National Theatre and Royal Opera House as well as several exhibitions of celebrated artists.
Audience numbers grew, most strongly for live performance where they surpassed previous records. Cinema
stayed similar but with a difference in mix between film and transmissions from other venues with the latter
being more popular this year. Creative engagement activities recovered participation and, although numbers
are not yet at record levels, Youth Theatre developed and grew. Staff numbers remained stable throughout
the year, and we were able to develop renewal project5 in the Studio and Café that will enhance our future
prospects. We were grateful for the continuingfinancial investment in us made by Somerset West and Taunton
Council (now Somerset Council) l along with smaller but valuable grants from the new Taunton Town Council
and other funders, whilst also making progre55 in rebuilding our finance5 for a secure future.

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Numben. 08658085
Perfomiance
Live performance, as always, formed the core of our offer with a record number of 260 separate performances
in the main auditorium or studio and including our month-long Christmas show. There continued to be a range
to meet all interests from drama through dance, music from Bournetnouth Symphony Orchestra through 7
Drunken Night5, comedy from Jasper Carrot to Seann Walsh. Fatnily shows continued with the ever-popular
Tiger who came to Tea and DinosaurAdventures as well as many others.
Our Christmas show, Charles Dickens A Christmas Carol, was told through the experience of a youn8 traveller
reading the book on a train journey from Taunton to London with all the traditional elements brought to life as
the train progressed with many disruptions on its journey. This year, several members of our community
ensemble had substantive parts. It gave members of our Youth Theatre and other young people a chance to
work with professional artors and director. We were particularly grateful for the Brant support provided by
Taunton School for this production.
Live theatre continued to feature community produced work: Dick Whittington (Wayfarers Pantomime Society),
Sherlock Holmes and the case of the Jersey Lily ITaunton Thespians), The Addams Family (Taunton Schooll- all
showing the wealth of local talent.
Clnema and Event Clnema
The number of film showings and transmission decreased slightly in this year due in part to the high number of
live performances but also because of Strike action in the f ilm industry in the early part of the year. Similarly,
therefore, audience numbers were also a little lower although for those attending, there were some remarkable
performances from the National Theatre, The Royal Opera House {dance and opera} and the informative
Exhibitions on Screen brlnging such delights as Wermeerthe Greatest Exhibition, Movle Mondays, where those
participating enjoy light refreshments and meeting friends alongside a morning showing continued to be strong.
Exhibitions
A total of nine exhibitions took place throughout the year in our purpose-builtgallery. They included showcases
for the Somerset Art Gallery Trust, Chandos Society of Art15t5 and two with students at Bridgwater and Taunton
College: 'We the people, and 'Cllmate Action,. Individual artists also showed their work and there were
interesting displays of theatre props, costumes and posters.
All exhibitions are free to view and are accessible throughoutthe day as well as alongside evening performances.
Creative Engagement: Learn
We continued to offer a tempting variety of arts activities of people of all ages and abilities. Whilst continuing
to offer programmes of dance, singing, drawing and painting, we also offered a range of workshops and short
courses where those joinin8 could try out new techniques or deepen existing skills in, for example, calligraphy,
mono-printing on fabric, hand-built pottery, origami.
We also opened our facilities to the arts communitywho ran theirown programmes of arts work, thus extending
the range of artistic engagement on site still further.
Most significantlyi our work with young people continued to grow, especially through our Youth Theatre. This
year not only were they amongst those auditioning and performing in A Christmas Carol, ouryouth Theatre also
won a coveted place on the National Theatre's Youth Development Programme, performing a new, specially
written productlon 'The Periodicals. in Taunton and Worcester.
Artist Development
We continued to assist Southwest performing companies by making free space available for research and
development work and we worked with the Pleasure Dome Theatre Company on our Christmas production.
The number of productions in our Studio increased giving opportunities to smaller, often new companies to
share their work. An outstanding offering was 'Godot is a Woman, by Silent Fa￿5 demonstrating an ingenious
and entertaining way how to rebut outdated thinking.

TAu￿rON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
Audience Development and Access
There was a large growth in overall audience numbers. surpassing earlier years and dependent largely on an
increase in those choosing to join us for live performance of all genres. Of particular signif icance was the growth
in numbers of schools choosing to attend A Christmas Carol coupled with it being a show which has wide family
and seasonal appeal.
We won funds to open our facilities as a warm space during the colder part5 of the year providing volunteer-led
activitie5 and subsidised hot food. We also continued to grow our Movie Monday programme so that
participants can now book a light lunch to follow the budget viewing and hot drink already offered.
We offered audio described, BSL supported relaxed shows as part of our Christmas offer and offered
straightforward support to those needing sanitary assistance.
We continue to work hard to grow our community of Friends and seek to bring into the theatre manyof the new
arrivals to our town, both to new housing areas and visiting for whatever reason.
Development Fundlng
Our primary funderwas our local authority, Somerset Council, successorto Somerset West and Taunton Council.
Taunton School generously supported our Christmas Show and we won smaller sums from the new Taunton
Town Council, as well as Somerset Community Foundation and SASP to assist with community projects.
We beneflted in this year from the monies received from The Theatre Trust and the Meikle family in 2022-23
which provided a new floor and seating In the Studio along with a drop-down screen thus Increasing the use of
this area.
Our subsidiary company also donated funds from its work in 2022-23 and continued to support the work ofthe
theatre more generally.
Numerous donors contributed either by giving regular sums or on a one-off basis through the year. A 'pay-it-
forward campaign raised funds to support tickets for the Christma5 Show which were distributed by Taunton
Food Bank. Some of those participating in engagement activities donated funds to allow bursaries for those who
could not otherwise afford to attend.
Business and indlvlduals supported us in other ways, chooslng to advertise in our brochures, provldlng services
or choosing to hire our facilities. They make an invaluable contribution.
Our Trustee Development Committee supported the staff team in maklng bids, but it is clear that the fundlng
climate is ever more challenging.
The charity has not used professlonal fundraisers or commercial participators. There were no complaints
regarding fundraisi ng. The trustees confirm that their fundraising is compliant with the recognised standards of
fundraising.
Investment In the facilities
There was an improvement in the immediate external environment in that the adjacent Coal Orchard
development was eventually completed. However, due to the general collapse of retail, the anticipated
occupation of new premises has not yet materialised. In response, Taunton Brewhouse continued to invest in
its own catering facilities and a new servery was opened for day-time use.
The Council, in its role as Landlord, carried out electrical rewiring of part of the building and completed a
programme of work on the roof.
Our internal facilities team organised backups and support to ensure business continuity and carried out the
necessary testing regimes as well as on-80ing maintenance of equipment.
FINANCIAL REVIEW
Following the very challenging conditions of the previous year, managers and the Board worked closely together
to monitor performance and manage finances in this year. As a result of this careful work and of the outstanding
success of the Christmas show 'A Christmas Carol,, the year ended with the creation of a surplu5 sufficient to
start rebuilding our reserves.

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number". 08658085
This success is built on a diligent approach to programming choices and on looking at ways to increase income
whilst still seekingto ensure the theatre is accessible in terms of price. The theatre management has also sought
to structure the staff team to better meet the needs and to work with contractors rather where this can be
accommodated without risk to quality. Funds have continuously been sought for projects and core costs and
tough decisions made if these are not forthcoming. Overall, we have sought to trade our way into a more
financially sustainable way of working.
During the year, and mindful of the need to manage the risk to our cash, savings accounts were opened with
Charity Bank and United Trust Bank to generate interest from sums held a8ainst future needs. We also moved
cash into an interest- bearing accountwith Natwest. This enables us to earn from ticket monies orgrants before
Spending and to spread the risk of possible banking failure.
RISKS
Our risks policy 15 managed by Senior Management with Board oversight as set out in our Risk Management
Process on Page 4 of this report.
A comprehensive review of the risk management process as well as the actual risks resulted in residual risks:
Dependency on income sources which ￿ase or reduce
Loss of Somerset Council funding
Changes in public policy leading to loss of license
These risks are largely outside our control but, nevertheless, caused u5 to explore ways of increasing our abllity
to be self-supporting within the parameters of occupying a Council owned property.
Risks remaining at a moderate level after mitigating and contingent actions were:
Fire
Working at height
COSHH
Non-compliance with company or statutory regulations
Sexual exploitation and grooming
Lack of budgetary control and financial reporting
Low sales for Christmas show
These risks are managed through company procedures and controls Involving the Board and/or individuals from
different parts of the organisation as an additional check.
RESERVES POLICY
Taunton Theatre Association Ltd aims to maintain reserves to underpin the financial stability of the charity and
mitigate financial risk. The intent of the Reserves Policy is to replenish released reserves and to maintain the
reserve balance of £200,000 in unrestricted reserves plus £50,000 for designated at projects with £50,000 for
capital expenditure and a restricted reserve balance as dictated by grant conditions. As at 31 March 2024, the
total reserves for the Group were £217,368 and for the Charity £156,408.
Free reserves therefore fell short of the policy. Work is ongoing to rebuild the reserves through careful
management of resources. Meanwhile, strict financial management ensures that the charity operates in line
with its earned income,
Although within the accounting processes, advanced ticket sales and reserves are recorded separately, they are
urrently banked together in oursavings accounts with movement between advance ticketsales and the current
account on a monthly basis as events take place.

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
POST BALANCE SHEET EVENTS
In March 2024 Somer5et Council confirmed a reduced level of funding for the year 2024-25 and no funding
thereafter. A little later they announced their intention to exercise the break clause on the lease for Taunton
Brewhouse on 30 April 2026. These decisions are based on Somerset Council's own financial situation not the
performance ofTaunton Theatre Association, whom they wish to continue a5 Operator.
Discussions between rrA, Somerset Council and Taunton Town Council about ensuring the future of Taunton
Brewhou5e resulted in a proposal whereby:
Somerset Council retain the freehold of Taunton Brewhouse
Taunton Theatre Association enters into a 50-year full repairin8 and insuring lease from l May 2026
Taunton Town Council enters into a formal partnership arrangement with Taunton Theatre Association,
supported by a multi-year se￿iCe Level Agreement tofacilitate the continuation of the Theatre in its current
premises.
At the time of approval of these accounts, discussions are well progressed between Taunton Theatre
Association, Somerset Council and Taunton Town Council. Ajoint letter from Taunton Town Council and Taunton
Theatre Association regardin8 the above proposal has been formally submitted to Somerset Council.
The terms and formal concluslon of the lease between rrA and Somerset Council are expected to be concluded
in the coming months.
The tems and conclusion of a partnership agreement with Taunton Town Councll remain subject to approval
by the Taunton Town Council members at a future meeting.
The Trustees of Taunton Theatre A550ciation are confident that all parties are committed to ensuring the future
for Taunton 8rewhouse and that these discussions will be successfully concluded.
GOING CONCERN
After withstanding the challenges of the COVID years and recovering fully in 2023-24 to achieve record
participation and Income, it is disappointing that it is the situation of the La ndlord, Somerset Council, has led to
changes in lease and funding arrangements.
However, the Trustees be15eve that the proposed lease and funding arrangements for 2026-7 onwards, as
outlined above, will lead to a Stable and well-maintained theatre on into the future. They are grateful toTaunton
Town Council for their willingness to engage in supporting Taunton Brewhouse for the benefit of the town and
region. They also tha nk Somer5et Council for their commitment to easing this transition period and for their
work on essential repairs.
For the upcoming financial year, l April 2025-31 March 2026, although Somerset Council will not make a grant
to cover core costs, the management team have developed a balanced plan which builds on current success in
performing arts and continuing growth in our trading subsidiary.
The Trustees have prepared forecasts and budgets for the financial years ending 31 March 2025 and 31 March
2026 which take into account the reduction in funding from Somerset Council. These indicate that the charity,
and group, have sufficient funds in order to be able to continue in operation for this period, and therefore for
the foreseeable future.
The Trustee5 therefore consider it appropriate for the accounts to be prepared on a goin8 concern basis.
In the longer term, the Theatre is reliant on the successful conclusion of the current negotiations with Somerset
Council regarding the lease arrangements for the Theatre, and with Taunton Town Council regarding funding
through a Service Level Agreement, a5 described in the Post Balance Sheet Events disclosure above. Any changes
to the current lease arrangements will not take effect until l May 2026.
10

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
FUTURE PLANS:
Our immediate priority is to complete negotiations for the new lease and funding arrangements with legal
arrangements in place during the coming financial year so that Taunton Brewhouse moves seamlessly into its
new situation.
At the same time. and with the belief that negotiations with both Somerset and Taunton Town Councils will be
resolved positively. we will continue developin8 our five-year plan for the period 2026-2030. This will include
th
recognising the50 anniversary of the openin8of Taunton Brewhou5e in 2027. We will continue and strengthen
our:
broad-ba5ed performance programme offering drama, musical theatre, dan￿, music of all kinds, comedy
and other spoken work works, makin8 this accessible to all
cinema, maximising opportunities to bring live events to the screen along with a curated film programme
young people's programmes and other activities 50 that we continue to ensure and enhance an inclusive
offer for all young people
support for the development of Southwest Artists, funds permitting
development of our staff ensuring they can build skills and capabilities in our arts environment
work with volunteers with the aim of meeting their needs as well as those of the theatre
Frlends offer wlth the objectlve of building thls core group of supporters.
We will increase our efforts to
grow our hospitality and catering provision such that it can maximise its offer to the public and, in so doing,
increase the support it provides to the community and to our financial underpinnings
seek funds, specifically to refurbish and redecorate key areas of our facilities. as well as to support arts
projects
strengthen our communications and audience development plans through improved and varied
communications across our catchment areas and we will continue to seek partners and collaborators more
widely and especially in the Southwest
develop and deepen relationships with actual and potential funders and sponsors as well as audience
members to ensure the lon8-term future of the Taunton Brewhouse.
As evidenced by the 8rowth in numbers attendin8 the theatre and the consequent financial results, there is
public support for Taunton 8rewhouse, a theatre originally built with substantial funds from the community,
and which has contlnued to enjoy support through the past half century.
INDEMNITY PROVISION FOR TRUSTEES/DIRECTORS
Charity Trustees Insurance is in place for the benef it of all trustees/directors of the company. Officers are
similarly covered by this insurance.
AUDITOR
After an open tender in Summer 2023, A C Mole LLP were reappointed as Auditors following their original
appointment in 2018. The appointment was formally confirmin8 at the Annual General Meeting in November
2023.
Statement of disclosure of information to audltor
The Trustees, who were in office at the date of approval of these accounts, have confirmed that, as far as they
are aware. there is no relevant audit information of which the Charitable Cornpany's Auditor is unaware and
that they have taken all the steps that they ought to have taken as trustees in order to make themselves aware
of any relevant information and to establish that the Auditor is aware of that information.
li

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number.. 08658085
THANKS
We thank Vickie Robbins, for her work and leadership as Executive Director of Taunton Theatre Association and
Taunton Brewhouse. She has built a strong community ethos to the company. embracing our professional staff
and volunteers and, increasingly, with the charitable sector and arts organisations in Taunton and beyond.
We thank all involved in the Brewhouse Team: managers, Staff and volunteers, and our specialist advisers who
work with us to deliver a rich and exciting programme of cultural offers for our community. We are proud of
their achievements, especially in these challenging times.
We thank our funders, sponsors, donors, friends and participants for their support, encouragement, and
enthusiasm throughout the year. Without this vital support, we would not exist.
Finally, I thank my colleagues on the Board for their contlnulng work, support, and enthusiasm for our work
which is so much appreciated.
The financial statements, which incorporate the Report of the Tru5tee5 and Trustees Responsibility Statement
are approved by the board in their meeting on 21 October 2024 and signed on its behalf
by:
J Jl£r
Valerie J Berry (Val Hammond)
Chair
12

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
TRUSTEES, RESPONSIBILITIES STATEMENT
The charity trustees (who are also directors for the purposes of company lawl are responsible for preparing a
Trustees, Annual Report (incorporating the directors, report) and financial statement in accordance with
applicable law and UK Accounting Standards, including Financial Reporting Standard 102- The Financial
Reporting StL7ndard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting
Practice).
Company law requires the trustees to prepare financial statements for each financial yearwhich give a true and
fair view of the state of affairs of the charitable company and the group and of the income and expenditure, of
the charitable group for that year. In preparing these financial statements, the trustees are required to:
Select suitable accounting policies and then apply them consistentlv;
Observe the methods and principles in the Charities SORP;
Make judgments and accounting estimates that are reasonable and prudent;
State whether applicable UK Accounting Standards have been followed, subject to any material
departure disclosed and explained in the financial statements; and
Prepare the f inancial statement on the going concern basis unless it is inappropriate to presume that
the charitable company will continue in business.
The Trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at
any time the financial posltion of the charitable company and enable them to ensure that the financial
statements comply with 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 auditors are unaware; and
the trustees have taken all steps that they ought to have taken to make themselves aware of any
relevant information and to establish that the examiner 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 di55emination of f inancial statements may differ from legislation in other jurisdictions.
The financial statements. which incorporate the Report of the Trustees and Trustees Responsibility Statement
are approved by the board in their meeting on 21 October 2024 and slgned on its behalf
bv..
,1 Ilo
Valeriej Berry (Val Hammond)
Chair
13

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
INDEPENDENT AUDITOR'S REPORTTO THE TRusfEES OF TAUNTON THEATRE ASSOCIATION LIMITED
Opinion
We have audited the financial statements of Taunton Theatre Association Limited (the parent charitable
companV') and its subsidiaries (the 'group'} forthe yearended 31 March 2024 which comprise the Consolidated
Statement of Financial Activities. the Consolidated and Charity Balance Sheet, the Consolidated Statement of
Cashflows and notes to the financial statement5, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accounting Standards, including Financial Reporting Standard 102.. The Fina ncial Reporting standard applicable
in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).
In our opinion, the financial statements:
give a true and fairview of the State of the group's and the parent charitable company'5 affalrs as at 31
March 2024 and the group's income and expenditure for the year then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice;
have been prepared in accordance with the requirements of the Charities Act 2011.
Basls for opinion
We conducted our audit in accordance with Internatlonal Standards on Auditing IUK) IISAS IUKI} and applicable
law. Our responslbilities under those standards are further described in the Auditorfs responsibilities for the
audit of the financial statements section of our report. We are independent of the group in accordance with the
ethical requlrement5 that are relevant to our audit of the financlal statements in the UK, including the FRC'S
Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requlrements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our
opinion.
Conclusions relating to golng concern
In auditin8 the financial Statements, we have concluded that the trustees, use of the 80in8 concern basis of
accounting in the preparation of the financia I statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relation to events or
conditions that, individually or collectively, may cast slgnificant doubt on the group's and the parent charitable
company's ability to continue as a going concern for a period of at least 12 months from when the financial
statements are authorised for issue.
Our responsibilities and the responsi bilities of the trustees with respect to 80ing concern are described in the
relevant sections of thi5 report.
Other Information
The other information comprises the information included in the annual report, including the trustees, report,
other than the financial statements and our auditorfs report thereon. The trustees are responsible for the other
information contained within the annual report. Our opinion on the financial statements does not cover the
other information and, exceptto the extent otherwise explicitly stated in our report, we do not express anyform
of assurance conclusion thereon.
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 course of the audit, or
otherwise appears to be materially mi55tated. If we identify such material thi5 gives rise to a material
misstatement in the financial statements themselve5. 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.
14

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number= 08658085
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TAUNTON THEATRE ASSOCIATION UMITED
Matters on whlch we are requlred to report by exceptlon
In the light of the knowledge and understanding of the company and its environment obtsined in the course of
the audit, we have not identified material misstatements in the directors, report included within the trustees,
report.
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports} Regulations 20084 require us to report to you if, in our opinion:
adequate and proper accounting records have not been kept, or returns adequate for our audit have
not been received from branches notvisited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of trustees, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responslbllltles of the trustees
As explained more fully in the statement of trustees, responsibilities, the trustees are responsible for the
preparation of the financial statements and for being satisfied that they give a true and falr vlew, and for such
internal control as they determine is necessary to enable the preparation of financial statements that are free
from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assesslng the Charity's ability to continue
a5 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 Charity or to cease operations, or have no realistic
alternative but to do so.
Audltorfs responslbllltles for the audlt of the financlal statements
The trustees have elected for the financial statements to be audited in accordance with the Charities Act 2011
rather than the Companies Act 2006. Accordingly, we have been appointed as auditor under section 144 of the
Charities Act 2011 and report in accordance with regulations made under section 154 of that Act.
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 auditorfs 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 15As IUKI 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.
Identifying and assessing potential risks of materlal mlsstatement due to irregularities
We considered the followingwhen identifying and assessing risks of material misstatement dueto irregularities,
including fraud and non-compliance with laws and regulations:
the leg313nd regulatory framework in which the charitable company and group operates
the sector in which the charitable company and group operates
the control environment and controls established to mitigate such risks
the results of our enquiries of management about their identification and assessment of risks of
irregularities
discussions with the audit engagement team about where fraud might occur
the incentives forfraud.
15

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF TAUNTON THEATRE ASSOCIATION LIMITED
Laws and regulations which are considered to be significant to the charitable company include those relating to
the requirements of financial reporting framework FRS102, the Companies Act 2006. the Charities Act 2011, UK
tax legislation, employment law and health and safety. In addition, we consider other laws and regulation which
may not directly impart the financial statements but may impact on the operation of the charitable company.
As a result of these procedures we concluded, in accordance with International Auditing Standards, that a risk
in relation to the potential for management override of controls existed.
Audit responses to rlsks Identified
We undertook audit procedures to respond to the risks identified, and designed our audit testing to respond to
these risks. The additional procedures we undertook included the following..
gaining an understanding of the charltable companws procedures for ensuring compliance with laws
and regulations
testing the appropriatene55 ofjournal entries and other adjustments
considering whether accounting estimates were indicative of potential bias
considering whether any transactions arose outslde the normal course of business
making enquiries of management
corroborating our enquiries through review of Board Minutes and correspondence.
We also communicated relevant laws and regulations and potential fraud risks to all engagement team members
and remained alert to any indicators of fraud or non-compliance with laws and regulations throughout the audit.
A further description of our responsibilities for the audit of the financial statements is located on the Financial
Reportlng Council's web51te at: www.frc.org.uvauditorsresponsibilities. This description forms part of our
auditorfs report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with part 4 of the
Charities {Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state
to the charitable company's members those matters we are requlred to state to them in an auditors, report and
for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone otherthan the charitable company and the charitable compan￿5 members as a body, for our audit work,
for this report. or for the opinions we have formed.
IuMrtoLLP
A C Mole LLP
Chartered Accountants and Statutory Auditors
Stafford House
Blackbrook Par* Avenue
Taunton
Somerset
TAI 2PX
A C Mole LLP is eligible to act as an auditor in terms of section 1212 of the Companie5 Act 2006.
218tr Ockpbef 202*
16

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
CONSOLIDATED STATEMENT OF FINANCIAL ACtIv￿lEs
includin
Consolidated Income and Ex
enditure Account
FOR THE YEAR ENDED 31 MARCH 2024
Unrestricted Restrirted
Funds
Funds
Total Unrestricted Restrirted
Funds
Funds
Funds
2024
Total
Funds
2023
Notes
Income
Donations
23,696
23,696
24,044
10,000
34.044
Charitable Activities
Grants
ricket Sales
Performance Revenue
Cinema Revenue
Learning and Participation
133,000
5,342
138,342
233,000
35,400 268,400
1,052,248
83,185
47,357
1,052,248
83,185
47,357
686,027
85,103
32,130
686,027
85,103
32,130
Other Trading Activities
202,975
202,975
134,530
134,530
Investment Income
5,280
5,280
912
912
Other income
41,605
41,605
48,130
48,130
Total Income
1,589,346
5,342 1,594,688
1,243,876
45,400 1,289,276
Expendlture
Charitable Activitie5
Cost of Other Trading
Activities
5 1,370,037
14,125 1,384,162
1,175,441
6,646 1,182,087
114,622
114,622
105,539
105,539
Total Expenditure
1,484,659
14,125 1,498,784
1,280,980
6,646 1,287,626
Net Incomel(Expenditure)
104,687
(8,783}
95,904
{37,1041
38,754
1,650
Net Movement in Funds
104,687
{8,7831
95,￿4
137,104)
38,754
1,650
Total Funds Brought
Forward
Transfer
82,617
30,064
38,847
130,0641
121,464
119,814
193)
119,814
93
Total Funds Carried
Forward
217,368
217.368
82,617
38,847 121,464
The statement of financial activities includes all gains and losses in the year.
The notes on pages 21 to 34 form part of these financial statements.
17

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NSOLIDATED AND CHARITY BALAN
AS AT 31 MARCH 2
24
2024
2023
Group
Charlty
Group
Charity
Notes
Fixed Assets
Tangible Assets
Investments
41,691
40,750
32,518
31,559
io
41.691
40,751
32,518
31,560
Current Assets
Stocks
Debtors
Cash at bank and in hand
4,448
67,354
534,409
2,465
72,935
387,618
li
62,347
471,661
66,553
375.804
606,211
534,IJ08
463,018
442,357
Credltors:
Amounts falling due within
one year
12
1430,534)
(418,351}
1374,0721
1369,6981
Net Current Assets
175,677
115,657
88,946
72,659
Net Assets
217,368
156,408
121,464
104,219
The Funds of the Charlty
Unrestricted funds
Restritted funds
13
13
217,368
156,408
82,617
38,847.
65,372
38,847
Total Charlty Funds
217,368
156,408
121,464
104,219
The notes on pages 21 to 34 form part of these financial statements.
18

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
BALANCE SHEETS AS AT 31 MARCH 2024
continued
The trustees acknowledge their responsibilities for..
(a)
ensuring that the group and company keep accounting records which comply with Section 386
and 387 of the Companies Act 2006 and
preparing financial statements which give a true and fair view of the state of affairs of the group
and company as at the end of each financial year and of the group's profit or loss for each
financial year in accordance with the requirements of Sections 394 and 395 and which otherwise
comply with the requirements of the Companies Act 2006 relating to financial statements, so
far as applicable to the company and group.
Ib)
These accounts have been prepared in accordance with the provisions of part 15 of the Companies Act 2006
relating to the small companies, regime.
Approved by the Trustees and Directors and signed on its behalf by:_
Signed:..............
Vl¥k¥(èIL. StAA< (L
Signed:.....
I&L
Date:
21str OttoWZOI+
19

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
ATEMENTS OF
FLOWS AS AT 31 MARCH 2024
2024
2023
Group
Charity
Group
Charity
Notes
Cashflows from operatlng actlvities
Net cash provided by
operating activities
19
161.485
109,995
125,689
123,404
Cashflows from Investing activities
Purchase of tangible fixed assets
Interest received
119,974)
5,280
(19,4181
5.280
{25,364)
912
(25,3641
912
Net cash (used in)
Investing activities
{14,694)
114,138}
{24,452}
124.4521
Net increase In cash
and cash equlvalents
Cash and cash equivalents at
beginning of year
146,791
95,857
101,237
98,952
387,618
375,804
286,381
276,852
Cash and cash equlvalents at
end of year
534,409
471,661
387,618
375,804
20

TAUNTON THEATRE ASSOCIATION LIMITED
FINAN
IAL
TATE
ENTS F
R THE YEAR
NDED 31 MARCH 20
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
Accounting Policies
The principal accounting policies adopted in the preparation of the financial statements are as follows:
Company Information
The charitable company 15 incorporated in England and Wales under registration number 08658085 and
is registered with the Charity Commission under charity number 1156472. The registered office is The
Brewhouse Theatre and Arts Centre, Coal Orchard, Taunton, Somerset, TAI IJL. It is a company limited
by guarantee and has no share capital. In the event of the charity being wound up, the liability in respect
of the guarantee is limited £10 per member. As at 31 March 2024 there were 15 members.
Basis of Preparation
The financial statements have been prepared in accordance with Accounting and Reporting by Charities:
Statements of Recommended Practice applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 {issued
October 2019)- (Charities SORP IFRS 102)}, the Financial Reporting Standard applicable in the UK and
Republic of Ireland IFRS 102> and the Companies Act 2CQ6.
Taunton Theatre Association Limited meets the definition of a public entity under FRS 102.
The financial statements have been prepared underthe historical cost convention with items reco8nised
at cost or transaction value unless Stated otherwise within these notes.
The financial statements are prepared in sterling, which is the functional currency of the companv.
Monetary amounts in these financial statements are rounded to the nearest pound.
Golng Concern
The financial statements have been prepared on a going concern basis, which assumes the charlty and
group will continue in operation for a period of at least twelve months from the date of authorisation
of the financial statements and have sufficient funds to pay debts as and when they fall due.
After withstanding the challenges of the COVID years and recovering fully in 2023-24 to achieve record
participation and income, it is disappointing that it is the situation of the Landlord, Somerset Council,
has led to the changes in lease and fundin8 arrangements which are described in Note 21,
However, the Trustees believe that the proposed lease and funding arrangements for 2026-7 onwards,
will lead to a stable and well-maintained theatre on into the future. They are grateful to Taunton Town
Council fortheirwillingness to engage in supporting Taunton Brewhouse forthe benefit of the town and
region. They also thank Somerset Council for their commitment to easing this transition period and for
their work on essential repairs.
Forthe upcoming financial year, l April 2025-31 March 2026, although Somerset Council will not make
a grant to cover core costs, the management team have developed a balanced plan which builds on
current success in performing arts and continuing growth in our trading subsidiary.
The Trustees have prepared forecasts and budgets forthe financial years ending 31 March 2025 and 31
March 2026 which take into account the reduction in funding from Somerset Council. These indicate
that the charity, and group, have sufficient funds in order to be able to continue in operation for this
period, and therefore forthe foreseeable future.
The Trustees therefore consider it appropriate for the accounts to be prepared on a going concern basis.
21

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number.. 08658085
NOTES TO THE FINANCIAL STATEMENTS
Attounting Policles (continued)
Golng concern (continued)
In the longer term, the Theatre is reliant on the successful conclusion of the current negotiations with
Somerset Council regarding the lease arrangements for the Theatre, and with Taunton Town Council
regarding funding through a Service Level A8reement, as described in the Post Balance Sheet Events
disclosure in Note 21. Any changes to the current lease arrangements will not take effect until l May
2026.
Basis of Consolldation
These financial statements consolidate the results of the Charity and its wholly owned subsidiary, ThA
Trading Limited, on a line by line basis. The "Group" heading within the balance sheet refers to the
consolidated accounts of Taunton Theatre Association Limited and ThA Trading Limited. All intra-group
transactions are eliminated on consolidation.
In the parent company financlal statements the investment in the trading subsldlary is accounted for at
cost less impairment.
A separate Statement of Financial Activities or income and expenditure account, for the Charity itself
has not been presented because the Charity has taken advantage of the exemptions afforded by Section
408 of the Companies Act 2006. The surplus in the year for the charity was £52,189 (2023: deficit
£4,700). Note 10 gives details of the results of the Subsidiary undertakin8 for the yearto 31 March 2024.
Fund Accountlng
Unrestricted income funds are available for the general purpose of the charity at the discretlon of the
trustees, in furtherance of the general objectives of the charity, and which have not been designated
for other purposes.
Designated income funds are unrestricted funds earmarked by the trustees for particular reason or
activity.
Restricted income funds are only available for specific purposes designated bythe donor or through the
terms of an appeal or a specific object of the charity.
Cash and Cash Equlvalents
Cash and cash equivalents include cash and short term hlghly liquid investments that are readily
convertible to a known amount of cash and subjert to an insignificant risk of change in value.
22

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
Accounting Pollcies (continued)
Financial Instruments
The charity and Eroup only has financial assets and liabilities that qualify as basic financial instruments
including bank balances, cash, debtors and credttors. Basic financial instruments are therefore
recognised at transaction price and subsequently amortised cost.
Tangible Flxed Assets
Fixed assets are stated at cost less accumulated depreciation. The costs of minoradditions, items under
£1,000 are not capitalised. Depreciation 15 provided on all tangible fixed assets, at rates calculated to
write off the costs, less estimated residual value of each asset evenly over its expected useful life, as
follows:_
Sound and lighting equipment
Tools and equipment
IT equipment
Café equipment
20% on cost
20% on cost
25% on cost
20% on cost
Stocks
Stocks are stated at the lower of cost and net realisable value.
1.10 Taxation
The company is a registered charity and is therefore not liable to corporation tax or capital galns tax to
the extent that its income and gains are applicable to charitable purposes only. Value added taxatlon is
not recoverable by the charity, and is therefore included in the relevant costs In the Statement of
Financial Activities
1.11 Pension costs
The group and charity make contribution5 to defined contribution pension schemes on behalf of
employee5. The a55ets of these schemes are held separately from the group in independentlv
administered schemes. The amount included in the statement of financial activities represents the
contributions payable to the schemes in respect of the accounting period.
23

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
Accounting Policies (contlnued)
1.12
Income
All income is included in the SOFA when the Charity and Group is legally entitled to the income, it is
probable the income will be received and the amount can be measured reliably. The following specific
policies are applied to particular categorie5 of income.
Income from donations and 8ifts are recognised in the year in which they are receivable.
Income from grant5 15 recognised when the charity has entitlement to the funds, any performance
conditions attached to the grants have been met, it is probable that the income will be received and the
amount can be measured reliably and is not deferred. Where grant income is received in advance of
condltSons being met which are outside of the charitls control, income Is deferred within credrtors:
grants received in advance until grant conditions are met. Where the charity has entitlement to fund5
but these have not yet been received, income is recognised within debtors.. accrued grant income.
Income from 8rants which relate to the Government's Coronavirus Job Retention Scheme are included
within other income, in the period in which the charity becomes entitled to the income.
Income from ticket sale5 is recognised when the charity has entitlement to the funds. Where ticket sales
Income relates to future performances income is deferred within Creditors- Ticket sales received in
advance.
Investment income is recognised when receivable.
1.13 Expendlture and Irrecoverable VAT
Liabilities are recognised a5 expenditure as soon as there is a legal or constructive obligation comm itting
to that expenditure, it is probable that settlement will be required and the obligation can be measured
reliably.
All expenditure is recognised on the accruals basis.
Costs of other trading activities include5 expenditure incurred In generatin8 the trading subsidiary funds.
Expenditure on charitable activities comprises costs incurred by the charity in the delivery of its activities
and services for its beneficiaries. It includes both costs that can be allocated directly to such activities
and costs of an indirect nature necessary to support them.
1.14 Critical accountlng estimates and judgements
The preparation of the financial statements requires management to make judgements, estimates and
assumptions. Estimates and judgements are continually evaluated and are based on historical
experience and other factors, including expectations of future eventsthat are believed to be reasonable
under the circumstances. The resulting accounting estimates will, by definition, seldom equal the
related actual results.
The trustees are of the opinion that there are no estimates or assumptions that have a significant risk
of causing a material adjustment to the carrying amounts of assets and liabilitie5 Within the next financial
year.
1.15 Volunteered Services
The charity benefits greatly from the involvement and support of it5 many volunteers. In accordance
with FRS102 and the Charitie5 SORP IFR51021 the economic contribution of general volunteers is not
recognised in the financial statements.
24

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
Income from Charltable Actlvltles- Grants
Totsl
2024
Total
2023
Unrestricted Restricted
Unrestricted
Restritted
Somerset West and Taunton
Council
Somerset West and Taunton
Council - additional one off
revenue grant
Somerset Community Foundation
Somerset County Council
Audio Equipment Grants
Warm Spaces Grants
Craft Workshop Grant
SASP Grant
Theatres Trust
132,000
132,1)JO
132,CDO
132,000
ioo,coo
1,000
loo,000
1,000
24,900
5,500
24,900
5,500
2,250
1,592
1,500
3,250
1,592
1,500
5,IXIO
5,1)JO
133,000
5,342 138,342
233,000
35,400 268,400
Income from Other Tradlng Actlvitles
Total
2024
Total
2023
Unrestricted Restricted
Unrestrfcted Re5trlcted
A Tradin8 Limited
Business Sponsorship
Advertising
Fundraising
189,723
10,900
2,300
52
189,723
10,9C
2,300
52
129,039
5,425
129,039
5,425
66
66
202,975
202,975
134,530
134,530
other Income
Theatre Tax Credit
Sundry income
Advertising VAT repayments
Insurance claim
39,932
1,673
39,932
1,673
37,579
223
9,128
1,200
37,579
223
9,128
1,200
41,605
41.605
48,130
48,130
25

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
Expenditure on Charitable Activities
Unrestricted Restricted
Funds
Funds
Total
2024
Unrestricted
Funds
Restricted
Funds
Total
2023
Theatre costs
Artists, Payments
Sound & Lighting
Consumables
Cinema Film Rental
Cinema & Equipment
Repairs
Depreciation on Sound
& Lighting Equipment
724,530
4,370 728,900
525,854
525,854
1,336
38,572
1,336
38,572
591
39,674
591
39,674
9,933
9,933
10,574
10,574
2,339
3,576
5,915
4,030
367
4,397
776,710
7,946 784,656
580,723
367 581,090
Premises Costs
Business Rates
Water Rates
Insurance
Light & Heat
Repairs & Maintenance
Fire & Security
1,434
4,259
5,189
28,494
7,323
3,072
1,434
4,259
5,189
29,053
7,323
3,072
2.586
623
5,808
24,639
6,660
2,371
2,586
623
5,808
24,639
11,787
2,371
559
5,127
49,771
559
50,330
42,687
5,127
47,814
Staff Costs
Wages & Salarie5
390,012
1,647 391,659
371.046
371,046
Publlclty & Marketing
Pu blicity & Marketing
Social Media
48,239
16,199
48,239
16,199
61,190
9,530
61,190
9,530
64,438
64,438
70.720
70,720
26

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTE5 TO THE FINANCIAL STATEMENTS
Expenditure on Charitable Activities (Continued)
Unrestricted Restricted
Funds
Funds
Totsl
2024
Unrestricted
Funds
Restricted
Funds
Total
2023
Support Costs
Training
Travel & Subsistence
Health & Safety
Licences
Printing, Postage &
stationery
Legal & Professional Fees
Audit & Accountancy
Bank & Credit Card
Char8es
Ticketing Charges
Sundry Expenses
Depreciation of Equipment
Bad Debt
1,883
1.258
5,073
30,381
1,883
1,258
5,073
30,381
630
2,187
2,304
24,655
630
2,187
2,304
24,655
1,382
1,699
12,828
1,382
1,699
12,828
1,771
10,659
17,599
1,771
10,659
17,599
882
32,594
787
339
882
32,594
787
4,312
1,012
45,719
1,426
1,245
1,058
1,012
45,719
1,426
2,397
1,058
3,973
1,152
89,106
3,973
93,079
110,265
1,152 111,417
Total Charltable Actlvltles
Expenditure
1,370,037
14,125 1,384,162
1,175,441
6,646 1,182,087
27

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
TES TO THE FINANCIAL STATEMENT5
Stsff Costs
2024
2023
Salaries & Wage5
Social Security Costs
Pension Contributions
361,870
22,643
7,146
341,449
22,684
6,913
391,659
371,046
No employee earned £60,000 per annum or more12023: none).
The average number of persons (excluding trustees) employed during the year was 21 {2023: 211.
The key management personnel of the group comprise those of the charity and those of its wholly
owned Subsidiary Trading Ltd. The key management personnel is identified as the chief executive,
marketin8 and communications manager, technical and facility manager, artistic programmer, head of
finance and administration and front of house manager. The total employee benefits, inclusive of
pension and social security costs of key management personnel of the charity and group were £185,500
12023: £156,042).
Trustee Remuneration and Related Party Transactions
The Trustees who are all directors received no remuneration during the year. No expenses have been
reim bursed to directors during the year12023: £nill.
The Charity's wholly owned subsidiary, ThA trading, operates the Brewhouse bar, kiosks, sales of
merchandise and art works and the hire of all facilities not required for core purpose. Profits from these
activities are transferred to Taunton Theatre Association Ltd by means of a charitable donatlon. rrA
Trading also pay a service charge to the Charity to cover costs associated with rrA trading overheads
and operating costs.
The Trustee Eddie Caine5 is a Film Programme Consultant. During the year £2,534 {2023: £3,277} was
invoiced for Cinema Programming by his consultancy business.
Taxation
As a charity, Taunton Theatre Association Limited 15 exempt from tax on income and 8ains falling within
section 505 of the Income and Corporation TaxesAct 1988 and section 256 of theTaxation of Chargeable
Gains Act 1992, to the extent that these are applied to its charitable objects.
28

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
Tangible Fixed A55ets- Charity and Group
Tools &
Other
Cafe
Equipment Equipment
Sound &
Lighting
IT
Equipment
Total
Cost
At l April 2023
Additions
99,978
19,418
14,649
17,348
S56
19,866
151,841
19,974
At 31 March 2024
119,396
14,649
17,904
19,866
171,815
Depreclatlon
At l April 2023
Charge for Year
87,471
5,915
14,649
16,051
913
1,152
3,973
119,323
10,801
At 31 March 2024
93,386
14,649
16,964
5,125
130,124
Net Book Value
At 31 March 2024
26,010
940
14,741
41,691
At 31 March 2023
12,507
1,297
18,714
32,518
Included within tools and equipment of group fixed assets are assets with a net book value of £941
{2023: £9591 which are held in the trading subsidiary.
10.
Investments
Charlty
Total
2024
Total
2023
rrA Trading Limited
Ordinary shares of £1 each
rrA Trading Ltd {Company no 090110081 wa5 incorporated on 25 April 2014 as a wholly owned trading
subsidiary of Taunton Theatre Association Limited. The parent charity holds 100% of the issued share
capital and 100% of the voting rights of the subsidiary trading company.
The principal activities of the company was that of a theatre bar and café. The trading subsidiary gift
aids itstaxable profitsto Taunton Theatre Association Limited. The Registered Office is The Brewhouse
Theatre and Arts Centre, Coal Orchard, Taunton, Somer5et, TAI IJZ.
29

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED
I MARCH 2024
Company Number: 08658085
NOTE5 TO THE FINANCIAL STATEMENTS
io.
Investments (Continued)
The results of rrA Trading Limited were as follows:.
2024
2023
Turnover
190,723
129,039
Costs of sales
(75,5981
(61,747)
Gros5 profit
115,125
67,292
Administrative expenses
161,824)
158,192)
Operating profit
53,301
9,100
Gift aid to Taunton Theatre Association Limited
9,586
2,749
The assets and liabilities were:_
Fixed assets
Current assets
Current liabilities
941
75,774
{15,7551
959
21,350
(5,064)
Total a55ets less current liabilities
60,960
17,245
Called up share capital
Retained earnings
60,959
17,244
60,960
17,245
ii.
Debtors
2024
2023
Group
Charity
Group
Charlty
Trade Debtors
Prepayments
Accrued Income
Other Debtors
19,624
3.506
952
43,272
17,956
3,506
952
39,933
14.459
2.557
17,CQO
38,919
11,416
2,557
17,OCNJ
35,580
67,354
62,347
72,935
66.553
30

TAUNTON THEATRE ASSOCIATION LIMITED
FINAN
IAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
12.
Creditors: Amounts falllng due wlthln one year
2024
Group
2023
Charity
Group
Charity
Trade Creditors
Taxation & Social Security
Accruals
Ticket sales received in advance
VAT
24,718
7,215
65,275
324,342
8,984
22,540
7,215
64,254
324,342
26,606
8,215
62,991
273,082
3,178
25,547
8,215
62,854
273,082
430,534
418,351
374,072
369,698
13.
Statement of Funds- Group and Charlty
At31
March
2024
At l April
2023
Income
Expendlture
Transfer
Unrestrirted funds
General
82,617 1,589,346
11,484,659)
30,064
217,368
Restrlcted funds
Café Project
Studio Seating
Studio Flooring/Lighting
Audio Equipment
Warm Spaces
Craft Workshops
SASP Grant
18,714
10,000
5,000
5,133
13,973)
11,672)
{805)
11,ioo}
{3,2501
{1,7681
(1,5571
{14,741}
{8,3281
(4.1951
14,0331
1,000
176
57
2.250
1.592
1,500
38,847
5,342
{14,1251
130,064}
Restricted income funds are for speclfic artistic productions and activities undertaken by the company.
The Café Project W3s funded by a grant from Somerset County Council to redevelop the Theatre's Café. The
balance on the fund represented the net book value of the assets purchased, the restrirtion has therefore
been fulfilled and the fund balance held as fixed assets transferred to the general reserve.
The Studio Seating Fund consists of a donation received specifically towards the new seating in the studlo
and related adjustments to the room. The donor5 approved the use of any remaining funds to the overall
Studio project. The balance on the fund represented the net book value of the assets purchased, the
restriction has therefore been fulfilled and the fund balance held as fixed assets transferred to the general
reserve.
The Studio flooringllighting fund is a grant from the Theatres Trust towards repairing the Studio floor and
Improving the lighting ri8. The balance on the fund represented the net book value of the assets purchased,
the restriction has therefore been fulfilled and the fund balance held as fixed assets transferred to the general
reserve.
31

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
13.
Statement of Funds- Group and Charity (continued)
The Audio equipment fund consist of donations received for Audio description equipment increasing
accessibility of the theatre. The balance on the fund represented the net book value of the asset5 purchased,
the restriction has therefore been fulfilled and the fund balance held as fixed assets transferred to the general
reserve.
Warm Spaces funding was received from Taunton Town Council and SCF was to enable the Charity to open
early, provide daily activities and provide subsidised hot meals during the period December to February.
The craft workshops were funded by Taunton Town Councll and were to enable families to take part in
workshops at no or low cost during the autumn.
The SASP grant was recelved to fund places on weekly activf(ies durin8 the school holidays for chlldren who
would otherw15e receive free school meals.
14.
Analysis of Net Assets Between Funds - Group
2024
Total
2023
Total
Unrestrlcted
Restricted
Unrestrl¢ted Restricted
Fixed Assets
Net Current Assets
41,691
175,677
41,691
175,677
8,671
73,946
23,847
Is,000
32,518
88,946
217,368
217,368
82,617
38,847 121,464
15.
Capital Commltments
At 31 March 2024 the charity had no capital commitments12023- Nil}.
16.
Called up Share Capltal
The company is limited by guarantee and as such has no issued share capital.
17.
Auditors Remuneration
Charl
2024
Subsidia
Total
2023
2024
2023
2024
2023
Audit
Accounting se￿iceS
Corporation tax
Other services
7,128
4,740
960
12.043
4,884
672
7,128
5,240
960
7,080
5,490
840
30
500
760
12,828
17,599
500
760
13,328
18,359
32

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number: 08658085
NOTES TO THE FINANCIAL STATEMENTS
18.
Lease Commitments
Minimum lease payment of the group all due as follows-
2024
2023
Within one year
Between one and five years
2,324
425
2,445
2,704
2,749
5,149
19.
Reconciliation of Net Movements In Fund5 to Net Cashflows from Operating Artivities
2024
2023
Group
Charity
Group
Charlty
Net Movement in Funds las per statement of
financial attivitiesl
Adjustments for:.
Investment Income
Depreciation
95,904
52,189
1,650
14.700)
15,2801
10,801
15,280)
10,227
19121
7,280
(9121
6,794
Movements In Working Capital:.
Ilncreasel/Decrease in Stock
Decrease/llncrease} in Debtors
Increase in Creditors
11,9831
5,581
56,462
1,808
41,312
74,551
4,206
48,653
42,412
79,810
Cash Provided by Operating
Activities
161,485
109,995
125,689
123,404
20.
Prior Year Statement of Funds- Group and Charlty
At l Aprll
2022
At 31 March
2023
Income
Expenditure
Transfer
Unrestricted funds
General
119,814
1,243,876
11,280,980}
{93)
82,617
Restrirted funds
Café Project
Studio Seating
Studio Flooring/LiEhting
Audio Equipment
24,900
10,000
5,000
5,500
{6,2791
93
18,714
10,0
5,000
5,133
(3671
45,400
16,6461
93
38,847
33

TAUNTON THEATRE ASSOCIATION LIMITED
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Company Number.. 08658085
21
Post Balance Sheet Events
In March 2024 Somerset Council confirmed a reduced level of funding for the year 2024-25 and no funding
thereafter. A little later they announced their intention to exercise the break clause on the lease for Taunton
Brewhouse on 30 April 2026. These decisions are based on Somerset Council's own financial situation not the
performance of Taunton Theatre Association, whom they wish to continue as Operator.
Discussions between ThA, Somerset Council and Taunton Town Council about ensuring the future of Taunton
Brewhouse resulted in a proposal whereby:
Somerset Council retain the freehold of Taunton Brewhouse
Taunton Theatre Association enters into a 50-year full repairing and insuring lease from l May 2026
Taunton Town Council enters into a formal partnership arrangement with Taunton Theatre Association,
supported by a multi-yearservice Level Agreement to facilitate the continuation of the Theatre in its current
premise5.
At the time of approval of these accounts, discussions are well progressed between Taunton Theatre
Association, Somerset Council and Taunton Town Council. Ajoint letter from Taunton Town Council andTaunton
Theatre Association regarding the above proposal has been formally submitted to Somerset Council.
The terms and formal conclusion of the lease between rrA and Somerset Council are expected to be concluded
in the coming months.
The terms and conclusion of a partnership agreement with Taunton Town Council remain subject to approval
by the Taunton Town Council members at a future meeting.
The Trustee5 of Taunton Theatre Association are confident that all partie5 are committed to ensuring the future
for Taunton Brewhouse and that these discussions will be successfully concluded.
34