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CHARITY REGISTRATION NUMBER: 1159409
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ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

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ANNUAL REPORT AND FINANCIAL STATEMENTS
CONTENTS
Page
Referen￿ and administrative details
TrUSt￿s, annual report
Independent Examiner's report to the trustees
Statement of financial activities
Balance sheet
Notes to the financial statements
8-17

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REFERENCE AND ADMINISTRATIVE DEtAILS
FOR THE YEAR ENDED 31 DECEMBER 2024
REFERENCE AND ADMINISTRATIVE DETAILS FOR THE PERIOD ENDED 31
DECEMBER 2024
REGISTERED CHARifi NAME
ovo
CHARITY REGISTRATION NUMBER
1159409
REGISTERED OFFICE AND OPERATIONAL ADDRESS
The Maltings Theatre. Level 2 The Maltings, St Albans AL13HL
TRUSTEES
The trustees who served during the year and since the year end were as follows:
Mr Adam Nichols
Mr Andrew Sawford
Mr David Widdowson (resigned 30 September 2024)
Professor Timothy Boatswain (appointed 17 October 2024)
BANKERS
HSBC PLC
OBJECTIVES AND ACTIVITIES
To promote and advan￿ 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 circumslances or for the
public at large with the object of improving their conditions of life.
OVO fulfills these objects by providing affordable Iheatrical 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 The Maltings Theatre and the Roman Theatre
of Verulamium 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 guidan￿ on public benefit when reviewing the aims and objectives of the charity
and in planning future activities.

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REFERENCE AND ADMINISTRATIVE DETAILS
FOR THEYEAR ENDED 31 DECEMBER2024
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 and appreciative
audiences.
The following productions were produced and performed by OVO during the reporting
period..
A Christmas Carol
Sense and Sensibility
The Importance of Being Earnest
The following productions were performed at OVO'S venues during the reporting period..
A Musical Voyage
Baby Broadway
Best's Dramatic Double Bill
Bob Marley The King of Reggae
Christmas with the Herts Big Band
Classical Chorus
From Stage to Screen
Henry V
Into the Woods
Katzenmusik
Love is All, Love is Uke
MacDethl
Magic Mishaps
Maltings Mostly Comedy
Present Laughter
Pretty, Witty Nell l Love Labours Won
R.O.G.E.R Radio Attempts Frankenstein
Radio Ballads
Richard 111
Robin Hood
Silent Cinema
Spring Awakening
Sweet Love Adieu
The Art of Guitar.. An Evening of Classical and Spanish Favourites
Treasure Island
Tunes in the Ruins
Wildest Dreams

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TRUSTEES. ANNUAL REPORT
FOR THEYEAR ENDED 31 DECEMBER 2024
FINANCIAL REVIEW
A surplus of £9,453 (2023, deficit £19,573) was made in the year, leading to a net balance sheet
deficit of £8,452 (2023, deficit of £17,905). This includes claims for theatre tax credit relief of
(£1,329) (2023, £105.599).
Reserves and going concern policy
The Board aims to hold reserves equal to three months, operating costs, in unrestricted funds, as
a contingency for normal operating purposes. At the year end there was £1,394 cash at bank and
this aim had not been met. The board has instituted a new strategic plan, with a renewed focus on
fundraising in order to ensure this objective is met within the next 12-18 months.
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. 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 liabiltties thal would result if the organisation was unable to continue as a going
concern.
STATEMEf+tr OF TRUSTEES. RESPONSIBILrriES
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.

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TRUSTEES. ANNUAL REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
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
DoC￿sIgnI0 by..
18/12/2025
88F6Q84DFO5249tp.""" "'"" ................
Adam Nichols
Trustee

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INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF OVO
On accounts for the year ended 31 December 2024
Charity no 1159409
Set out on pages
6t017
Responsibilities and
basis of report
I report to the trustees on my examination of the accounts of the above
charity ('the Trust") for the year ended 31 De￿mber 2024.
As the charity's trustees, you are responsible for the prepardtion 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 Charily Commission under section 145(5){b)
of the Act.
Independent examiner's I have completed my examination. I confirm that no material matters have
statement
come 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 reqU1￿ments con￿mIng the
form and content of accounts set out in the Charities (Ac(x)unts and Reports)
Regulations 2008 other than any requirement that the accounts give a 'true
and fairf view which is not a matter conside￿d as part of an independent
examination.
I have no concEms and have come across no other matters in conneclion with the
examination to which attention should be drawn in this report in order to enable a
proper understanding of the accounts lo be reached.
DOe￿$19n•￿ by..
18/12/2025
Signed:
Date:
SSIIA04AM2A4Fts..
Name:
Steve Robinson
Relevant professional
qualification(s) or body
(if any):
FCA. Institute of Chartered Accountsnts in England and Wales
Address:
Mercer & Hole LLP,
72 London Road, StAlbans, Herts, AL11 NS

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STATEMENT OF FINANCIAL ACTIVITIES
YEAR ENDED 31 DECEMBER 2024
Unrestricted
Funds
2024
Restricted
Funds
2024
Restated
Total
Funds
2023
Notes
Total
Funds
2024
INCOME FROM:
Donations and legacies
22,908
22.908
69,317
Charitable activities
351,341
351,341
582,664
Other income
(1,329)
(1,329)
105,599
Total income
350,012
22,908
372,920
757.580
EXPENDITURE ON:
Charitable activities
236,641
236,641
484.450
Other
126.826
126,826
292,703
Total expenditure
363,467
363,467
777,153
NET INCOMEIEXPENDITURE
(13,455)
22,908
9,453
19,573
TOTAL FUNDS BROUGHT FORWARD
13
(56,912)
39,007
(17,905)
1,668
TOTAL FUNDS CARRIED FORWARD
13
(70,367)
61,915
(8,452) (17,905)
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.

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BALANCE SHEET AS
AT 31 DECEMBER 2024
2024
Restated
2023
Notes
Fixed assets
Intangible assets
Tangible assets
575
190,845
191,420
4,575
188,517
193,092
Current assets
Stocks
Debtors
Cash at bank and in hand
4,036
246,087
1,394
251,517
3,144
184,710
261,330
449,184
10
Creditors
Amounts falling due within one year
351.319
493,397
Net current (liabilities)lassets
(99,802)
(44,213)
Creditors
Amounts falling due after more than one year
12
100,070
166,784
Net assets
(8,452)
(17,905)
Funds of the charity:
Unrestricted income funds
13
(70,367)
(56,912)
Restricted funds
13
61.915
39,007
TOTAL CHARITY FUNDS
(8,452)
(17,905)
These financial statements were approved by the trustees and authorised for issue on 18 / 12 /,202 5
and are signed on behalf of the board by:
DocuSl9thpd ty..
OQF8ce40FD5248D..
Adam Nichols
Trustee
The notes on pages 8 to 17 fonn part of these accounts

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1. Accounting Policies
General information
OVO is a charitable incorporated organisation registered with the Charity Commission in
England & Wales. The office address is The Maltings Arts Theatre, Level 2, The Maltings, St
Albans, AL13HL.
1.1 Accounting convention
These financial statements have been prepared in accordan￿ with the charity's constitution,
the Statement of Recommended Practi￿. Accounting and Reporting by Charities preparing
their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) and the Charities Act 2011.
The charity has taken advantage of the provisions in the SORP for charities applying FRS 102
Update Bulletin 1 not to prepare a Statement of Cash Flows.
Assets and liabilities are initially recognised at historical cost or transaction value
unless otherwise stated in the relevant accounting policy or note.
The financial statements are prepared in sterling, which is the functional currency of the
charity. Monetary amounts in these financial statements are rounded to the nearest £.
1.2 Going concern
At the time of approving the financial statements. the trustees have a reasonable expectation
that the charity has adequate resources to continue in operational existence for the
foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting
in preparing the financial statements.
1.3 Public benefrt entity
The charity meets the definition of a public benefit entity under FRS 102.
1.4 Fund accounting
Unrestricted funds are funds that can be used in accordance with the objectives of the charity
at the discretion of the trustees.
1.5 Income
Income is recognised when the charity is legally entitled to it after any performance conditions
have been met, the amounts can be rnea5ured reliably. and it is probable that income will be
received.
For donations to be recognised the charity will have been notified of the amounts. If there are
conditions attached to the donation and this requires a level of performance before entitlement
can be obtained, then income is deferred until those conditions are fully met or the fulfilment
of those conditions is within the control of the charity and it is probable that they will be fulfilled.

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from government and other grants, whether 'capital grants or revenue grants,. are
recognised when the charity has entitlement to the funds, any perf0mlan￿ 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 a grant is re￿iVed for a specific purpose, it is
included in restricted income and any unexpended portion carried forward as a restricted fund.
1.6 Expenditure
All expenditure is accounted for on an accruals basis and has been classified under headings
that aggregate all costs related to the category. Expenditure is recognised where there is a legal
or constructive obligation to make payments to third parties, it is probable that the settlement
will be required, and the amount of the obligation can be measured reliably. All expenditure was
incurred in carrying out the charitable activity of the charity, including the costs of operating.
The charity is not registered for VAT and therefore all expenditure is recorded inclusive of VAT.
1.7 Taxation
The charity is exempt from corporation tax on its charitable activities. The charity is not
registered for VAT.
1.8 Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated
depreciation and accumulated impairment losses. Cost includes costs directly attributable to
making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less
estimated residual value, of each asset on a straight line basis over its expected useful life as
follows..
Plant, machinery and motor vehicles
Fixtures, frttings and equipment
4 years
3,4&10 years
1.9 Intangible fixed assets
The charity has intangible fixed assets, that is, non-monetary assets that do not have physical
substance but are identifiable and are controlled by the charity through custody or legal rights.
They are valued at cost.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less
estimated residual value, of each asset on a straight-line basis over its expected useful life as
follows..
Website
3 years

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NOTES TO THE FINANCIAL sTATEME￿rs
FOR THE YEAR ENDED 31 DECEMBER 2024
1.10 Stocks
Stocks held for sale are measured at the lower of cost or net realisable value.
1.11 Basic financial instruments
The charity accounts for basic financial instruments on initial recognition as per paragraph 11.7
FRS 102 SORP. Subsequent measurement is as per paragraphs 11.17 to 11.19, FRS 102
SORP.
io

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
2. DONATIONS AND LEGACIES
Total
2024
Total
2023
Donations
Grants
3,829
65.488
69.317
22,908
22,908
3 INCOME FROM CHARITABLE ACTIVITIES
Total
2024
Total
2023
Theatre productions
Events and hire
Bar revenue
209.510
63,248
78,583
351.341
469,356
33,429
79,879
582.664
4 OTHER INCOME
Total
2025
Total
2023
Theatre tax relief claim
(1,329)
105,599
li

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
5 EXPENDITURE ON CHARITABLE ACTIVITIES
Total
2024
Restated
Total
2023
Theatre productions
189,085
433,391
Ticket platform
8,815
15,278
Bar - cost of sales
236 641
484,450
6 SUPPORT AND GOVERNANCE COSTS
Support costs
Governance
costs
Total Support
2024
costs
Governance
costs
Total
2023
Staff costs
108,292
108,292
Bills utilrties & overheads
38,655
10,592
49,247
86,962
1,756
88.718
Marketing
17.656
17,656
33,804
33,804
DepreciationlAmortisation
27,136
27,136
25,796
25,796
Building costs
11.472
11.472
15,389
15,389
Loan interest & bank
charges
21,315
21,315
20,704
20,704
116,234
10,592
126,826
290,947
1,756 292,703
12

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
7 INTANGIBLE FIXED ASSETS
Website
Cost
At 1 January 2024
Additions
19,100
Transfer
At 31 December 2024
19,100
Amortisation
At 1 January 2024
Amortisation
14.525
4,000
Transfer
At 31 December 2024
18.525
Net book value
At 1 January 2024
At 31 December 2024
4.575
575
8 TANGIBLE FIXED ASSETS
Land and Buildings
Restated
Plant and
equipment
Total
Cost
At 1 January 2024
Additions
39,007
22,908
218.231
2,556
257.238
25,464
Transfer
At 31 December 2024
61,915
220,787
282,702
Depreciation
At 1 January 2024
Depreciation
Transfer
68,721
23,136
68.721
23.136
At 31 December 2024
91,857
91,857
Net book value
At 1 January 2024
At 31 December 2024
39,007
61,915
149,510
128,930
188,517
190,845
13

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
9 STOCKS
2024
2023
Charitable activities stock for resale
4,036
3,144
10 DEBTORS
2024
2023
Accrued income
Trade debtors
Other debtors
2,868
233,219
10,000
122,513
57,692
4,505
246,087
184,710
11 CREDITORS: AMOUNTS FALLING DUE WITHIN ONE
2024
Restated
2023
Bank loans and overdrafts
34,998
34.798
Accruals and deferred income
237,604
263.113
Trade creditors
47,880
166,501
Other loans
30,837
28,985
351,319
493.397
14

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
12 CREDITORS: AMOUNTS FALLING AFTER MORE THAN ONE
YEAR
2024
Restated
2023
Bank loans
18,624
81,446
100,070
22,419
144,365
166.784
Other loans
13 FUNDS
Restated
Balance at 1
January 2024
Incoming
resources
Resources
expended
Balance at 31
December 2024
Restricted funds
39,007
(56,912)
(17,905)
22,908
350.012
372.920
61,915
(70,367)
(8,452)
Unrestricted funds
(363,467)
(363,467)
For the year ended 31
December 2023
Balance at 1
January 2023
In¢omlng
resources
Resources
expended
Balance at 31
December 2023
Restricted funds
39.007
718,573
757,580
39,007
{56,912)
(17,905)
Unrestricted funds
1,668
1,668
(777.153)
(777.153)
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 cornprise grant income for the renovation of St Germain's Barn.
15

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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14 NET ASSETS BETWEEN FUNDS
2024
Unrestricted Restricted
Funds
Funds
Total
2024
2024
2024
Fixed Assets
129.505
61,915
191,420
Stocks
4,036
4,036
Debtors
18.995
227,092
246,087
Cash at bank
1,394
1,394
Creditors
(224,297) (227,092) (451.389)
Total net assets
(70,367)
61,915
(8,452)
2023
Unrestricted Restricted Restated
Funds
Funds
Total
2023
2023
2023
Fixed Assets
154,085
39,007
193,092
stocks
3,144
3.144
Debtors
184,710
184.710
Cash at bank
11,330
250.000
261.330
Creditors
{410,181) (250,000) (660,181)
Total net assets
(56,912)
39,007
(17,905)
16

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15 TRUSTEES
No trustee received remuneration for their services as a trustee during the year.
One trustee was reimbursed for production materials, theatre running, travel costs and
website development costs of £4,838 (2023 £488).
Mr A. Nichols received fees of £nil (2023, £35,217) as artistic director and £1,000
(2023, £11,078) for directing.
16 PRIOR YEAR ADJUSTMENT
The prior year comparatives have been 2djusted to correctly show hire purchase
liabilities on the balance sheet that were previously accounted for as operating leases.
17