**CHARITY REGISTRATION NUMBER** : **1159409** ## **OVO** **ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022** **OVO** ## **ANNUAL REPORT AND FINANCIAL STATEMENTS** ## **CONTENTS** ||**Page**| |---|---| |**Reference and administrative details**|**1**| |**Trustees’ annual report**|**2 - 4**| |**Independent Examiner’s report to the trustees**|**5**| |**Statement of financial activities**|**6**| |**Balance sheet**|**7**| |**Notes to the financial statements**|**8- 14**| **OVO** ## **REFERENCE AND ADMINISTRATIVE DETAILS** ## **FOR THE PERIOD ENDED 31 DECEMBER 2022** **REGISTERED** OVO **CHARITY NAME** **CHARITY** 1159409 **REGISTRATION NUMBER REGISTERED OFFICE** The Maltings Arts Theatre, **AND OPERATIONAL** Level 2 The Maltings, **ADDRESS** St Albans AL1 3HL14 ## **TRUSTEES** The trustees who served during the year and since the year end were as follows: Mr. David Berryman Mr Adam Nichols Mr David Widdowson Miss Jane Withers Mr Robert Ferguson ## **BANKERS** HSBC plc ## **INDEPENDENT EXAMINER** Neil Adshead FCA Creative Tax Reliefs Ltd Room F14A, First Floor, Bolton Arena, Arena Approach, Horwich, Bolton, BL6 6LB 1 **OVO** ## **TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022** . ## **OBJECTIVES AND ACTIVITIES** - To promote and advance the education of the public in the arts and in particular the performing arts. - To provide or assist in the provision of facilities in the interests of social welfare for recreation or other leisure time occupation of individuals who have need of such facilities by reason of their youth, age, economic or social circumstances or for the public at large with the object of improving their conditions of life. OVO fulfills these objects by providing affordable theatrical productions of a high standard to the public in and around St Albans, and enabling local people to participate in such productions **.** OVO’s objects were fulfilled during the reporting period by delivering a programme of its own theatre productions and through running T he Maltings Theatre in St Albans which enabled a number of other local and national theatre companies to present their work. The trustees have had regard to the guidance contained in the Charity Commission’s general guidance on public benefit when reviewing the aims and objectives of the charity and in planning future activities. ## **STRUCTURE, GOVERNANCE AND MANAGEMENT** OVO is a registered charity, number 1159409. The governing constitution was adopted on 1 December 2014. ## **ACHIEVEMENTS AND PERFORMANCE** Productions were very well received and generally played to large audiences. The following productions were produced and performed by OVO during the reporting period: A Midsummer Night’s Dream The Importance of Being Earnest Little Women Beginning Middle Mosquitoes Women of Whitechapel Julius Caesar A Christmas Carol 2 **OVO** ## **TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **FINANCIAL REVIEW** A deficit of £38,774 (2021, surplus £40,242) was made in the year, leading to a net balance sheet surplus of £1,668 (2021, £40,442). This includes claims for theatre tax credit relief of £106,500 (2021, £27,836). ## **Reserves and going concern policy** The Board aims to hold reserves equal to three months’ operating costs in the charity’s bank account, in unrestricted funds, as a contingency for normal operating purposes. The Trustees have a reasonable current expectation that the organisation has adequate resources to continue in operational existence for the foreseeable future, being a period of at least 12 months from the date of approval of the financial statements. At the date of signing, the charity has a balance sheet surplus at the period end. For these reasons, the Trustees have adopted the going concern basis of accounting in the preparation of these financial statements. Accordingly, these financial statements do not include any adjustments to the carrying amount or classification of assets and liabilities that would result if the organisation was unable to continue as a going concern. ## **STATEMENT OF TRUSTEES’ RESPONSIBILITIES** The charity trustees are responsible for preparing a trustees' annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the charity trustees to prepare financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, of the charity for that period. In preparing the financial statements, the trustees are required to: - select suitable accounting policies and then apply them consistently; - observe the methods and principles in the applicable Charities SORP; - make judgements and estimates that are reasonable and prudent; - state whether applicable accounting standards have been followed, subject to any material departures that must be disclosed and explained in the financial statements; • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business. 3 **OVO** ## **TRUSTEES’ ANNUAL REPORT FOR THE PERIOD ENDED 31 DECEMBER 2022** The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and to enable them to ensure that the financial statements comply with the Charities Act 2011, the applicable Charities (Accounts and Reports) Regulations, and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities. By order of the board of trustees ## David Widdowson David Widdowson Trustee Dated: 27 April 2023 4 **OVO** ## **INDEPENDENT EXAMINER’S REPORT TO THE TRUSTEES OF OVO** ## **On accounts for the period ended** 31 December 2022 **Charity no 1159409** **Set out on pages** 6 to 14 I report to the trustees on my examination of the accounts of the above charity **Responsibilities and basis of** (“the Trust”) for the period ended 31 December 2022. **report** As the charity's trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. **Independent examiner's** I have completed my examination. I confirm that no material matters have come **statement** to my attention in connection with the examination which gives me cause to believe that in, any material respect: - the accounting records were not kept in accordance with section 130 of the Charities Act; or - the accounts did not accord with the accounting records; or - the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair’ view which is not a matter considered as part of an independent examination. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. **Signed: Name:** Neil Adshead **Date: 27 April 2023** **Relevant professional FCA. Institute of Chartered Accountants in England and Wales qualification(s) or body (if any):** **Address:** Creative Tax Reliefs Ltd Room F14A, First Floor, Bolton Arena, Arena Approach, Horwich, Bolton, BL6 6LB 5 ovo STATEMENTOF FINANCIALACTIVMES PERIOD ENDED 31 DECEMBER 2022 Unre5trirted Funds 3111212022 Re5trirted Funds 3111212022 Totsl Funds 3111212022 Total Fund5 3110312022 Note5 It4COME FROM: Donation5 and le8aae5 Charitable activltie5 Other income 14.700 419.088 106500 10.000 24.700 419,088 106.500 116,739 397,710 27,836 Total InAt 1 April 2022
Additions
At 31 December 2022
**Amortisation**
At 1 April 2022
Amortisation
At 31 December 2022
**Net book value**
At 1 April 2022
At 31 December 2022|**Website**
**£**
19,100
-| |---|---| ||19,100| ||6,525
4,000| ||10,525| ||12,575| ||8,575| ## **8 TANGIBLE FIXED ASSETS** |**Cost**
At 1 April 2022
Additions
At 31 December 2022
**Depreciation**
At 1 April 2022
Depreciation
At 31 December 2022
**Net book value**
At 1 April 2022
At 31 December 2022|**Plant,**
**machinery**
**and motor**
**vehicles**
**£**
29,276
-
29,276
21,155
1,263
22,418
8,121
6,858|**Furniture**
**and**
**equipment**
**£**
19,842
74,360
94,202
11,174
13,333
24,507
8,668
69,695|**Total**
**£**
49,118
74,360| |---|---|---|---| ||||123,478| ||||32,329
14,596| ||||46,925| ||||16,789| ||||76,553| 12 **OVO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022** |**9**
**STOCKS**
Charitable activities stock for resale
**11**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Bank loans and overdrafts
Other loans
Other creditors
Accruals and deferred income
**12**
**CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE YEAR**
Bank loans||31/12/2022
**£**
3,144
31/12/2022
**£**
22,018
9,200
25,214
25,400
36,222
118,054
31/12/2022
£
22,886||31/03/2022
£
1,674
31/03/2022
£
-
9,200
-
-
38,965
48,165
31/03/2022
£
29,117
-
29,117| |---|---|---|---|---| |||||| |Other loans||119,585||-| |||||| |||142,471||| 13 **OVO** ## **NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 31 DECEMBER 2022** ## **13 MOVEMENT IN FUNDS** |**Balance at**
**1 April 2022**
**£**
**Unrestricted funds**
40,442
**Restricted funds**
Big Invest Reach fund
-
The Big Invest Reach fund was restricted to fund raising
**For the year ended 31 March 2022**
Balance at
01/04/2021
£
**Unrestricted funds**
200|**Incoming**
**resources**
**£**
540,288
10,000
Incoming
resources
£
542,285|**Resources**
**expended**
**£**
579,062
10,000
Resources
expended
£
502,043|**Balance at 31**
**December**
**2022**
**£**
1,668| |---|---|---|---| ||||-| ||||Balance at
31/03/2022
£
40,442| Unrestricted funds comprise income granted or donated to or earned by the charity to be used at the discretion of the trustees to fund any activity in furtherance of the charity’s objectives. Restricted funds are funds that can only be used for particular restricted purposes within the objectives of the charity. ## **14 TRUSTEES** No trustee received remuneration for their services as a trustee during the year. Two trustees were reimbursed for production materials and bar stock of £8,317 (31/03/22 £10,459) Mr A. Nichols received fees of £30,637 (31/03/22, £30,117) as artistic director and £3,217 (31/03/22, £3,578) for directing Ms J Withers received £4,968 (31/03/22 £NIL) as actor Mr D Widdowson received £4,117 (31/03/22 £NIL) as actor ## **15 RELATED PARTY DISCLOSURES** Mrs L Widdowson, spouse of trustee, was reimbursed £618 (31/03/22, £8,454) for theatre running costs During the year Mr D Berryman , trustee, loaned the charity £25,000. This amount was outstanding at the year end and is included in 'other creditors' The loan is interest free. 14 2023-04-27 ## OVOaccounts1222final Final Audit Report Created: 2023-04-27 By: Sandra Lee (sandra.lee@creativetaxreliefs.com) Status: Signed Transaction ID: CBJCHBCAABAA3ROdEf9q8uP1UDK8Obf8toQy4-snGLc3 ## "OVOaccounts1222final" History ## Document created by Sandra Lee (sandra.lee@creativetaxreliefs.com) 2023-04-27 - 10:09:49 GMT- IP address: 212.139.0.30 ## Document emailed to dgwiddowson@gmail.com for signature 2023-04-27 - 10:11:21 GMT ## Email viewed by dgwiddowson@gmail.com 2023-04-27 - 10:11:29 GMT- IP address: 66.249.93.75 - Signer dgwiddowson@gmail.com entered name at signing as David Widdowson 2023-04-27 - 10:32:48 GMT- IP address: 90.208.203.79 - Document e-signed by David Widdowson (dgwiddowson@gmail.com) Signature Date: 2023-04-27 - 10:32:50 GMT - Time Source: server- IP address: 90.208.203.79 - Document emailed to neil.adshead@creativetaxreliefs.com for signature 2023-04-27 - 10:32:51 GMT - Email viewed by neil.adshead@creativetaxreliefs.com 2023-04-27 - 10:38:16 GMT- IP address: 109.149.154.25 - Signer neil.adshead@creativetaxreliefs.com entered name at signing as Neil Adshead FCA 2023-04-27 - 10:39:09 GMT- IP address: 109.149.154.25 - Document e-signed by Neil Adshead FCA (neil.adshead@creativetaxreliefs.com) Signature Date: 2023-04-27 - 10:39:11 GMT - Time Source: server- IP address: 109.149.154.25 ## Agreement completed. 2023-04-27 - 10:39:11 GMT