R•olstered number. 09514461
Charity number.. 1163614
NEVILL HOLT COMMUNITY ARTS LIMITED
(A Company Llmlted by Guarantee}
GROUP TRUSTEES, REPORT AND CONSOLIDATED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023

NEVILL HOLT COMMUNITY ART8 LIMITED
IA Company Llm5ted by Guarantee)
CONTENTS
Pagtr
R•f•rgnce and Administrativg Details of the Company, its Trustèes and Advls•rs
Group Trustogs. Roport
b￿k￿dent Audltors. Report on the Flnanelal Statements
C￿￿oI1d8tOd Statement of Flnanclal A¢tlvhies
Corwlidated Balance Sheet
2-12
13-17
18-19
20-21
Company Balanco Sheet
Consolldated Statem•nt of Cash Flgws
22
23
tes to the Financial Statements
24-39

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Limited by Guarante8)
REFERENCE AND ADMINISTRATIVE D￿AlLs OF THE COMPANY, ITS TRUSTEES AND ADVISERS
FOR THE PERIOD ENDED 30 AUGUST 2023
Trust￿8
S J Rose. Trustee
S G Toyne, Trustee
J D P Dunseath, Tru51ee
Company reglst•r
number
09514461
Charity regist&r•d
number
1163614
R•giStered offic•
Nevill Holt The8tr8
Nevill Holt
Market Harborough
Leicestershire
LE16 8EG
Independent auditors
Duncan & Toplis Audit Limitgd
5 Re501ution Close
EndeavDur Park
Boslon
Lincolnshire
PE21 T
Page 1

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmited by Guarantee)
TRUSTEES. REPORT
FOR THE PERIOD ENDED 30 AUGUST 2023
The Trustees present their annual report together with the audited financial statements of the Company for the 1
September 2022 to 30 August 2023. The Annual Report serves ihe purposes of both a Trustee5' report and
directors. report under ¢otnpany law. The Trustees confirm that the Annual Report and financial 51alernents rjf
th& charitablè Company comply with the current statutory requirements. the requlrements of the charitable
(xmpanvs governing document and the provisions of the Statement of Rècommended Practice
ISORPI applicable to charities preparing their ac￿UntS in accordance with the Financial Reporting Standard
applicable in the UK and Republic of Ireland IFRS1021 leffective 1 January 20191.
s￿￿e Ihe group and the Company qualfy a$ small under section 383 of the Companies Act 2006.the
Group Strategic Report required of medium and large companie8 under the Companies Act 2006 Islrategic
Rèport and Directors. Report) Regulations 2013 has been omitted.
PagÈ 2

NEVILL HOLT COMMLINITY ARTS LIMrrED
IA Company Limited by GuaTantee}
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST 2023
Oblectlv¢¥ and actrvities
a. Objectlves and alms
Nevill Holt Community Arts ￿MIt&d $xists to promtste the arts and advance education in the arts, through education
programmes, prodvclion of opera, music, design, theatre andlor related disciplines which are int6nd8d to be
enlightening 3ndlor of value lo the public.
We rneasU￿ our success in a number of way5, including the nurnber of audience member5 reached, the number
of participants in our education and community programmes, feedback from participants in these programmes,
and the perceived quality of our performances and events.
b. Signlflcant aetivltles
During th8 period the Charty received donations from individual donors. corporate supporters and chanlable
trusts and foundations either directly or coll8¢t8d on Its behalf by Nevill Holl Festival Limited Ipreviou51y
Nevill Htslt Opera Limited. This change in naTne was made post year end on 17 January 20241. These donations
were used to support the delivery of the Charitys mission both in the theatre and acr055 the Midlands.
c. Public bènefrt
Thè Charity is a Public Benefit entity. When ￿view1N9 the CharityÈ objectives and activities, and in planning
future activities. the trustees havè considered the Charity Commission's general guidance on public benefit.
d. Grant￿nakIng pollcles
During the period the Charity made donations to its wholly owned subsidiary, Nevill Holt Festival Limited, which
deliVe￿d its Charitable objectlV85 on its behaff. All fundraising activities are undertaken by Nevill Holt Fests'val
Limited and incoming resources are consequently held in a ￿Stricted reserve by the Charity for use by Nevill Holt
Festival Limited.
Page 3

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Limltèd by Guarant*el
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST 2023
Aehl•vèments and perfom)ancg
a. Charitable a¢tlvltles
During the
period, the Charity delivered its objectivès through its wholly owned subsidiary.
Nevill Hoft Festival Limited INHFI. Key activities in the year were as follows.
Winter Festlval (Decembèr 20221
Orchestral partners Manchester Camerata oave two very dlfferent perfomiances al Nevill Holt, to a combin8d
Audience of morè th8n 420.
• Handel> Messiah with the Nevill Holt Singers, conducted by Nevill Holty Artistic Director. Nicholas
Charmers, and
• Jes5 Gillam Isaxophonol and Caroline Pether IDirectorNiolinl with a programme by Glalunov.
Tchaikovsky and Caroline Shaw.
War Horse- th& Concert
A sell-out early Summer perfomance with Michaèl Morpurgo retelling an abridged versio)n of his bestselling novel
accompanied by Ben Murray wrth music and songs from the National Theatr& production.
2023 Summer Opera F•stival - La C•n8rentola
The 2023 opera festlval presented five nights of Rossini's La Cenerentola to a total 8vdience of more than 1700.
The opera was directed by Owen Horsley and design8d by Simon Wells, joined by orchestral partners the Royal
Northèm Sinfonia and conducted by their Principal Conductor Dini5 Sousa.
Edueatlon and Communlty Activities
NHF aims to providè access to opera. theatre, and rnU5iG-making of high standards to young p8op16 01 all
backgrounds.
A specially ¢ommissioned v8rsion of Mozart¥ The Magic Flute, in partnershipwilh th8 Roy81 Opera Housè and
the Voices Foundation, featuring 1,100 Year 5 pupils and thity-six teachers from 22 primary schools was
performed across venues in the East Midlands, reaching over 2,500 audience mernbgrs.
Free tickets to opera performances are provided to under 18 s through gducation partners. and NHF offered
artist developrnent prDgrams for talented opera singers.
Artist Development Programs
These programmes offer trainlng. perforrnances, coo¢hing, workshops. and collaborations with DRET schools
lor artists at different stages of their oareers.
Ov&rall, NHF focuses on nurturing excellenc8 in artists, widening access to music edu¢8lion, and delivèring high_
quality performances and community engagement.
Page4

NEVILL HOLT COMMUNITY ARTS LIMITED
{A Company Limited by Guarantèè)
TRU5TEES' REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST 2023
Flnanclal Review
Financial position, going concern and rfsk
The Statemènt of Financial Activities for the individual charity shows a net surplus of £nil lor the period12022".
income
raised during the period was granted to Nevill Holl Festival Llmiled, the Charity's wholly
owned subsidiary, to deliver the Charit￿$ objeclNes in the 2023 season.
The Statement of Financial Activitias for the Group shows a nel deficit of £126,525 12022.. net deficit of
£271,882) for the period. This is the deficit incurred by Nevill Holt Fèstival Limited, of whieh £131,81012022:
£130,962) is depraeiation in respect of the th88tre.
2023 was a particularfy challenging period in our history. During the period, due to poor lickel sales and
weakne55es in management reporting and cost control we made the difficult decision to minimise furiher
rin8n¢ial risk by ￿dUcIng our 2023 prograrnme. Simultaneously, th8 Trustees took prolassional advice and
filed a seTiOUS incldént report with the Charity Commission detailing the nature and circumstan￿5 of their
concerns with the financial risks facing the organisati'tsn at that time.
sin￿ then. the organisation has macle significant changes to the board, scrulinised finances and the risks lacing
the organisation and slrenglhened governance and management processes.
The board ¢onsiders that the principal risks and uncertainties cuttently facing the organisation are as follows.
Thèse risks are monitorèd on an ongoing basis.
1. Liquidit
Bearing in mind p88t issues and changes in audience ticket buyng behaviour. the organisation& abilityto
access ¢ash lo meet financAal oblig8tion5 85 they fall due is a key risk.
To manage this risk, the organisalion has refocused on cost control, improved cashflow lorecasling, budgating
and monitoring process, with greater oversight and scrutiny and enhanced sales marketing and fundraising.
Ch8rity previously held a modest reserve lo support Inevitab￿ pèaks and troughs across linaneial periods
whith proved invaluable in 2023. Alongside this, the organisation agreed a secured short terrn loan repayable on
r￿1p1 of the Thèatre Tax Relief (which is raeèiv8d aft8r th8 period of expenditure to which it relates) from
The Ross Foundation, which has subsequently beèn repaid. Further loans have since be8n agreed with The
Ross Foundation on a similar basis.
These gererous cashflow 108n
faiilibes
have allowed the Charity lo plan ahead and rneet liabilities and
obligations.
Furthem)ore, this ongoing commitment has provided the necessary support and confidence
that there are no material uncertainties about the Charity's abilrty lo continue as a going conc8m.
rep￿ts1 inprijr years.in Jurp 2018 a pamianenl Iheatreopened atNevill HO￿ tohouse
etivities of Nevill Holt Festlval Limited. The cost of the building was funded by a long term loan from The Ross
Foundation.
P8ge 5

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Limlted by Guarantee)
TRUSTEES, REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST 2023
Financial Rèvi8W
2. Markel risk
Primarily, this risk concems ehanges in audience behaviour and external factors ovèr which we havè limited
direct control.
In order lo rnanage this nsk,
undertook an audiencè survey and have allocated additional
sourc8 to the programming of future events lo better understand audience demand and pricing within th8
market. Whilst we are unable to inlluenee 8xternal factors and the effects of the cost of living crisis for exarnple.
we take these into consld&ration when 8sses5ing the risk.
3. Board Govemance
We are grateful for the hard work ol prevlous board members and with many members reaching the point of
reb'remenl, it was important lo maintain a strong skilled board going forward lo minimise the ri5k5 associated
YAlh a weak govèrnance structure.
With that in mind. the boards of both the Charity and Nèvill Holt Festival Limited were re-e¥tsblished with new
members bringing the range of skills required. Th8 board has proactively audited the w8aker areas of ski115 and
continuas to monitor thes&. An 8X8CUtive chair ha8 also been in place since late 2023. providing critical focvs,
support and leadership.
Irnproved management information has enabled the board to make better infomied decisions and to take swifter
action in a more proactive w8y.
b. Rg$•rv•s policy
The Trustees approve Chanty spending and fundraising targets annually to maintsin sufficient reserves to meet
future 8xpenditure as and when it becomés due. Al the partod end the Charitablè Company held a lolal of
£70,07812022 - £70,078) in ￿serveS of which £70,07712022 - £70.0771 are restricted reser40s héld for the use
of activities by tha Navill Holt Festival Lirnited.
. Funds In d•tlelt
At the perfod ond dale no funds wgrg in deficlt in resp8ct of the Charitable Company.
For the Charitable Group, the unrestricted fund was in deficit by £681,43712022.' £554,911) as at the period end
date. The main ￿ntributIng factor to this was the ¢umulative depreciation charge in respect ol the theatre,
which was £682,05012022: £550,239).
d. Invèstments pollcy and objectlves
The only investment Is in its wholly-owlled subsidiary Nevill Holt Festival Limited. Under tha Memorandum and
Articles of Association. the Charity ha5 the power to invest in any way tho Twstees see fit and opportunities for
investrnent would bè subject to risk assessment on a caseby ca5ebasis. The Trustees have no
immediate plans to c¢nsider further Investments.
Page 6

NEVILL HOLT COMMUNITY ARTS LIMITED
{A Company Llmited by Guarantee)
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST2023
Financial R•view I￿n￿nu•d)
e. Prlnclpal funding
Fundrni3ing
The fundraising enwronmènt for arts organisalions in the UK in 2022123 continued lo be extremely challenging
due to both the ongoing recovery following the Covid pandemic and the cost ol living Gfisis.
Th8 principal soureas of donations 8re'.
Voluntary donations from individual supportèrs Ilhrough the NHF membership scheme, box office donations
and major giftsl
- Grants from charitable trusts and foundations
- Donations from c()rporate supporters
Gift Aid on eligible donations Imm individuals
These are either received direclty by Nevill Holl Community Arts Limited or collected on its behalf by Nevill Holl
Fèstwal Limited and hgld in a restr¢ted reserve to fund activities delivered by Nevill Holt Festival which align wilh
the Charitls objectives.
The Trustees of Nevlll Hoh Community Arts Limited would like to thank all donors and supporters for
helping us lo weather th• dlffl¢ult post pandomlc period for the benefit of audienGes. artlsts, participants
Sn NHF'S educatlon programmes, and for the local community.
Page 7

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmltefl by Guarant¢el
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST 2023
Structur•. governanc• and management
a. Governing document
The Charity is controlled by its governing document. a deed of trust, and constitutes a limitèd company, limitad
by guarantè8. as defined by the Companies Act 2006, with no shar8 G8pilal 1regislrab.on nurNber 095144611.
The Charity was incorporated on 27 March 2015 and commenced its acts'vits'es on that dale and received charity
status on 17 Septembgr 2015 (registration nurnber 11636141.
The Mernorandum and Arti¢les of Association are the primary gov9rning documents of the charity.
In January 2024, the Charty& trading subsidiary changed its name by spècial resolution from Nevill Holl Opera
Limited to Nevill Holl Festival Limited.
b. Mèthods of appolntmgnt or electlon of Trust••s
The subscribèrs lo the Memorandum were the Directors ol the Company and the first truste8s of the Charity. To
further strengthen the Board of Tru51ee5 and its indepèndence trom the Nevill Hott Festival Limited 8 review of
trustees resulted in new tN8tee8 and directors being appointed upon the retirement of many of the 8xi8ling board
members.
Any new trustees and directors are appointed following an introductr)ry interview by the existing directors.
e. Organisational structur• and de¢ision-maklng polleies
The Trusteès meet regularly to make decisions relating to the Charity including approving 8nnLJal budgets. key
contracts and the remuneration of key personnel as well as reGeiving regular financial updates. The Irusta8s
work alongside the diractors of Nevill Holt Festival Limited. Detsils of the Trust8es are given on page 10.
All Trustèes gave of their lime freely and they received no remunerdtion. No personal èxpense Tefunds warè
paid.
The delivery of Charitsble activities, raising of fund5 and administration for th8 charity is undertaken by its wholly
ownad subsidiary, Ngvill Holt FeslNal Limit8d.
Un¢J'l 30 Augusl 2022. the position of Manaoing Directtsr wa5 held by Annie Lydford, with delegated responsibility
for the day to day running of all activities of the organisation.
From 19 September 2022 until March 2023 Joe ONeill held thè position of Managing Director and the￿ after
provided 5peci8lisl and management support until the end of 2023 following the appoinltnent of a guest Fèsliv81
Dlre¢tor for 2024.
Our long standing Artistic Director. Nicholas Chalmers, steppad down in March 2023.
d. Policies adoptèd for the Induc￿On and training of Trustoès
The trdining and induction provided for new trustees depends on their &xisting experience. Wh8re necessary, an
inforrnal inducbon tallored to their specrfic needs including training on charity, legal and f5nancial rnatlers 15
provided.
Page 8

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmltèd by Guarantee)
TRUSTEES. REPORT (CONTINUED)
FOR THE PERIO D ENDE D 30 AUGUST 2023
Structure, governance and management Icontlnu•dl
o. Related party relationships
The Charity5 funds are granted to its subsidiary Nevill Holt Festival Limit8d which lundraises and (Jèliv8rs the
Charity's activities. Nevill Holt F83tIV81 Limited transacts with suppliers and customers in th8 norm81 course of
business. During th8 period payments were mad8 to and received from organisation5 of which the trustees of
the Charity held positions such as director. trustee, or commitletr rn8mb8r. Furthgr details are given in the notes
lo the financial statements.
Page 9

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Limited by Guarant¢e)
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST 2023
Structure, governaneè and managom•nt l¢ont5nuedl
f. Refer¢n¢e and admlnlstratlve detalls
Re9lstgred Company number
09514461 (England and Wales}
Reglst•rèd Charity numb¢r
1163614
Rgglstered offlce
Nevill Holt Theatre
Nevill Holt
Markèt Harborough
Leicestershire
LE16 8EG
Trustees and Dlr•etors in post durln9 the period to 30 Au9U$t 2023
F J H Richard5 (retired post year endl
H J Stevenson Iretired post year endl
L T J Morris Irelired 18 January 20231
S Ro)5e
Trustees Ibut nol appolnted a$ directors) In post durlng th¥ perlod to 30 August 2023
J M Forrnan Hardy Irelired post y88r endl
S G Toyne lappoinled as dirèctor post year endl
S M Wa8s Iretsred p05t year endl
J D P Dunseath (appointed as director post year endl
Sènior Ststutory Audltor
Timothy Godson FCA
Bankers
Barclay
One Stanhope Gate
London
SW1A 1NP
SoliGltors
Clifford Chance LLP
10 Upper Bank Street
London
E145JJ
Events slnc• tha ond of the perlod
Board changes in Nevill Holt Community Arts Limited-.
J M Foman Hardy (Trusteel retired on 13 September 2023.
S M Wass (Trust881 retired on 30 November 2023.
F J Richards {Director￿rUSte0l and H J Stevenson IDirectorlTrusteel ￿tityd on 14 December 2023.
J D P Dunseath (Trusteel and SG Toyne (Trustees) We￿ appointed as directors on 14 December 2023.
Page 10

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlted by Guarnnteel
TRUSTEES. REPORT ICONTINUEDI
FOR THE PERIQD ENDED 30 AUGUST 2023
structurè, gov?rnance and management Icontinu•dl
Further information relating to events since the end of the period is given in the notes to the financial statements.
Plan$ for future pèrfods
The Charity will wntinue lo make grants to Nevill Holt Festival Limit8d lo support the delivery ol its charitable
objectives and activities. In 2024 the organisation launched a suoce55ful broadened music and arts leslival
alongside a fundraising auth"on. first run in 2023. With the experience and learning5 of 2024 and earlier years,
the organi5ation continues to rèviaw its lulure strategy with a view to continuing to devèlop a diverse and
sustainable festival for the East Midlands alongside a revitali5ed education and artistic programme. This work
will enable future prograrnming decisions to be m8de with confidence that perforrnances will be supported by
audience dernand and that the organisation remains financially healthy. Tickets for the 2025 sèason are
currentty on sale online at www.NevillHollFesb'val.com
ststement of Trustèès. rèsponsibilities
The Trustees Iwho are a150 the dsr¢ctor5 of the Company for the purposes of company lawl ar8 responsible for
Preparing the Trustees, Report and the financial slalemenls in accordan¢e with applicable law and United
Kin9dom Accounting Standards Iuniled Kingdom Generally Aeeepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each finanual period. Under cornpany
law. th8 Twslees rnust not approve thè finan¢ial slalemenls unless they arè sallsfied that they give a tme and
fair view of the state of aff8irs of the Group and the Company and of their incorning resoureès and 8pplicatior) of
resourcès, including their income and expenditure, for that period. In preparing th¢5e financial statements, the
Trustees are required to=
select suiiable accounting policie5 and then apply them consistently.,
observe the methods and principles of the Charities SORP IFRS 1021".
make judgeTnents and accounting estimates that are reasonable and prudent.,
state whether applicabl8 UK Accounts'ng Standards IFRS 1021 have been followed, subject to any material
d8parture$ di$¢losed and explained in th8 financial statements..
prepara thè financial statements on the going concern basis unless it 18 inappropriate lo presurne that the
Group will continug in business.
The Tru5te8s are r88pon8ibl& for keeping adequate aGGounting records that are $ulficient to show and explain
the Group and the Company's transactions and disclose with rèasonable accuracy at any time the financial
position of the Group and the Company and enable them lo ensure that the financial statement5 cornply with the
Cornpani85 Act 2006. They are also responsiblé lor Safeguarding the assets ol the Group and the Company and
hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of inforniat5on to audltors
Each of the p8rsons who are Trusteès at the when this Trustees. Report is approv8d has ￿nf1M)ed that..
so lar as that Trust88 is aware. there Is no relevant audrt information of which thè Charitable Group's
auditors arè unaware. and
that Trustee has takèn 811 the steps that ought to have been tsken as a Trustee in order lo be aware of any
relevant audit inlomi8tion and to establish th8t lh8 Charitsble Group's auditor5 are aware of that
infomiation.
Page 11

NEVILL HOLT COMMUNITY ARTS UMtfED
(A Compary Lrynited by Qu4rant••)
TRUSTEES, REPORT ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST 2023
Approved by Ofdor tsflh8 members gfthe bowd of Tru5tsE5 on. . .. .
tho. beh2W by.
7vp"
. and Sign￿ on
J D P Dun$eath
Trust8e
P4e 12

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmltèd by Guaranteel
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NEVILL HOLT COMMUNITY ARTS LIMITED
Oplnlon
We have audited the financial stslements tsf Nevill Holt Community Arts Limited (the 'p8renl charitabl& companll
and its subsidiaries Ith& 'group'l for the period ended 30 August 2023 which comprise the Consolidated
Statement ol Financial Activities, the Con501idated Balance Sheet, the Company Balance Sheet.
the Ctsnsolidated Stslement of Cash Flows and the ￿lated notes, including a summary of significant
accounting politses. The fin8ncAal reporting framework that has been applied in th9irpreparation 15 applicable
law and United Kingdom Accounting Standards. including Financial Reporting Standard 102. The Financial
Report4ng Standard applicable in the UK and Republic ol Irtsland, (United langdom G8nerally Accepted
Accounting Praclicel.
In our opinion the financi81 statemènts..
give a true and fair view of the state of the Group's and of the parenl charrtable companls affairs as at 30
August 2023 and of the Group's incoming resources and application of resources, induding its income
and expenditure for the period Ih8n ended.,
have been properfy prepared in acoordance with United Kingdom Generally Acc8pt&d Accounting
Practice.. and
hava been prepared in accordanc¢ with the requirements of the Companies Act 2006 and the Charities
Act2011.
Basss for opinion
We conducted our audit in accordanca wlth Inlemational Standards on Auditing IUKI IISAS IUKII and applicab18
. Our responsibilities under ihose standards are further described in the Auditors, responsibilities for the audit
of the financi81 Stslements section of our report. We are independent of the Group in a￿ordanCe wth the ethical
requirèments that ar6 r818vant to our audit of the financial statements in the United Kingdom, including the
Finan￿al ReFK)rting Counal's Ethical Standard. and we have fulfilled our other ethical responsibilities in
accordance with these requirements. We believe that the audit evidanc@ we have obtain8d is sufficienl and
appropriate to provide a basis for our opinion.
Wg h8ve reported a matter by exceptSon. Our opinion is not qLJalified in respect of this rnatter.
Conclu$lons relatlng to golng concern
In auditing the finanaal slalements, we have concluded that the Trustees, usè of the going conc8rn basis of
a¢Gounting in the preparauon of the financial statements is appropriate.
Based on th8 work we have perfomied, we have not identified any material uncertainties relating lo events or
CO￿￿.0nS that. individually or collectivèly, may cast significant doubt on the Group's or the parent charitable
ctsmpanys ability to continue as a going ctsncern for a period of at least twelve months frorn when th8 financial
statemènts are 8uthori58d lor issue.
Oijr responsibilitiès and the msponsibilities of th8 Trustees with respect to going concern are dascribed in the
relevant section5 of this report.
Page 13

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmited by Guarantee)
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NEVILL HOLT COMMUNITY ARTS LIMITED
ICONTINUEDI
Other Information
The other information comprises the information included in the Annual Report other than the financial
statement5 and our Auditors, Report thèrèon. The Trustees are resptsnsible for the oth8r information contained
within the Annual Report. Our opinion on the financial statements do8s not cover thè other inforrnalion and,
except lo the extent otherwise explicitly slated in our report, we do not expr955 any form of assurance
conclusion Ihereon. Our responsibility is lo re8d the other information and, in doing so, consider whether the
other infomation is materially inconsistent with the financial staternents or our knowledge obtained in the course
of the audit, or otherwise appears to be materially m15Staled. 11 we identify such material inconsistencies or
apparent material misstatements, we are requirèd lo detem)In8 whether this gives rise to a material
misstatement in the financial ststemenls thgmselves. If, basèd on the wotk we have performed, we conclude
that thèrè is a malerlal misstatement of this other infomiation, we are rèquired to report that fact.
W8 have nothing lo report in thi5 regard.
Opiniort on other matters pr¢$¢rlbed by th¢ Companoes A¢t 2006
Irs our opinion. based on the work undertaken in the course of the audit..
the information given in the Trustees. Report for the financial year for which the financial statements are
prapared is consistent with the finanaal Statements.
the Trust88s' Report has been prepared In a￿ordanCe with applicable legal requirernenls.
Matters on whlch wè are required to r•port by exc¢ptlon
In the light ol the knowledge and understanding of the company and its environment obtained in the cgur8e of
thè audit. we have not identified material misstaternents in thè ReF)Ort of the Directors.
In our opinion the Charitsb￿ ¢ornpany has failed to cornply with the Companies Act 2006, section 386, wlhin
their duly to keep adequate ac¢ounling records. The undertying record kaèping was found to be poor and was
not updated on a titn8ly basis. This has 18d to the conclusion that adequate books and records were not
maintained during the period or at the periodend dat8. Since the perlod end date considerable effort has been
mad6 to review the accounting rec4)rds and io rectify the accounting entries for that period. enabling 8n
unqualified audit opinion to be given.
Wo hav$ nothing to report in r85PeCt of thè following matters where the Companies Act 2006 requires us to
report to you if, in our opinion.
returns adequate for our audit have not been received from branche5 not visited by us.. or
thè financial statemants are not in agreernenl with the acctsunting records and returns., OT
certain dis¢losures of directors and trustees rèmuneration specified by law are not made., or
wa h8ve not received all the infomiation and explanations we require for our audit.
Page 14

NEVILL HOLT COMMUNITY ARTS LIMITED
{A Cornpany Llmltsd by Guarant¢el
INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF NEVILL HOLT COMMUNITY ARTS LIMITED
ICONTINUEDI
ResponJibilities of trustees
As explained more lully in the Trustees, Responsibilities Statement, th8 Tru5teg5 Iwho are also the d1￿ctOrS of
the charitable company for the purposes of company lawl are responsible for the preparation ol the financial
5tatamgnts and for being sat15fied that they giv8 a true and fair view, and for such intem81 control as the
Trustees determine is necessary to enable the preparation of financial statements Ihal are free frorn material
misstatement, whether due to fr8uLY or error.
In preparing the financial statements. the Trusteès are responsible for assessing th6 Group's and the parent
haritable compan5ls ability to continue as a going concem, disclosing, as applieable. m8tters related to going
concern and using thè going concern basis of accounting unless the Trustees either intend to liquidate th6 GroLJP
or the parenl ch8rrt8ble cornpany or to cease operations, or have no r8alistlC 8ltemalive but lo do so.
Pago 15

NEVILL HOLT GOMMUNtTY ARTS LIMITED
{A Company Llmitgd by Guarantee)
INDEPENDENT AUDITORS, REPORT TO THE MEMBERS OF NEVILL HOLT COMMUNITY ARTS LIMITED
ICONTINUEDI
Audltors. responslbllltl•s for the audit of th¢ financial statements
Our objectives are lo obtain reasonable assurance about whether the financial staternents as a whole are free
from material misstatement, whether due to fraud or error, snd to issue an Auditors, Report that includes our
opinion. Reasonable assurance is a high lev81 of assurance, bul 15 not a guarantee that an audit conducted in
accordance with ISAS IUKI will always delecl a material misststement when it Èxists. Misstatements Gan arise
from fraud or error 8nd are considered material if, individually or in the aggregate, they Could reasonably be
expected to influence the economic decisions of u58r5 tak8n on the basis ol these financial siatements.
Irregularities, including fraud, are ins18nces of ntsn4tsmpliance with laws and ￿gUlatiOnS. We design procedures
in line with our responsibilities, outlined above, to delect matarial misstat8m8nts In r&speot of irregularities,
including IraLJd. The extent to which our procedures are Capable of detecting irregularitie5, including fraud is
detailed below..
We have Identified areas ol laws and regulations that could reasonably be expected lo have a material effect on
the financial statements from our 98neral commgrGial experience, knowledge of the sector, a review of
gulatory and legal ctsrrespondence and through discussions with Directors and other manag8tvent obtained as
part
of the work
required by
auditing
standards.
We
have also discussed with the Directors and
other management the policies and procedure5 relating lo compliance with laws and regulations. We
communicated laws and regulations throughout the team and remained alert to any Indications ol non-
compliance throughout the audit.
The potential impact of different laws and regulations varies considerably. Firstly, The Group is subjaet to laws
and regulations that directly impact the financial statements (for example financlal reporting legisl8lionl and we
have a55essed the extent of compliance with such laws as part of our financial statements audit. We evaluated
management's incentives and opportunitie8 for fraudulent manipulation ol the financial statements lincluding risk
ol override of controls) and determined that the principal risks were related to mana98menl bias in accounting
estimates and judgemental areas of th8 financial statements such 85 depreciation of tangible fixed assets. as
well as the nsk of inappropriate journal entries to misclassify restricted income. Audit procedures perforrned by
the engagtrment learn induded the identificab'on and testing of material and unusual joumal 8ntria$ and
challenging management on key accounting estimates, a55UmPtIOll5 and judgemenis made in the preparation of
the fi'nancial statements. We carried out detailed substantive tests en aeeounting estimates, including r8viewing
the meihods used by management to make those 8Stimat&s and rè-p8rtorming th8 calculation.
Secondly, The Group is subject to other laws and règulations where the eonsequence for non- compliance could
have a material effect on th* amounts or disclosur8s in the financial statements. We identified the following
areas as those most likely to have 5uGh an effect. Safeguarding, data protection and thè r8gulatory requirements
of the Charity Commission.
Auditing stsndards limll the required audit procedures to identify non-compliance with these laws and
regulations to enquiry of the Directors and other management and inspection. This inspection included a review
of legal fees lor any evidence ol non-complianee, discussions around whether any incidents occurred in the year
and a review ol the poliuès in plac8. Through Ih8se procedures, if we became aware ol any non-compliance, we
¢on5idered the impact on the procedure5 perforrned on the related financial staternenl items.
Owing to the inherent limitations of an audit, there is an unavoidable rfsk that we rray not have detected some
mat8rial misststements in the financial statements, even though wè hav8 properly planned and pertormed our
audit in accordance with auditing standards. The further ￿mOVed non-ctsrnpliance with laws and regulations is
from the events and tr8nsa¢tions reflected in the financial statement5, the le55 likely the inherently limited
prO￿dureS requlrèd by auditing standards would identify it. As wth any audit. there is a greater risk ol non-
detection of irregularities as these may involve collusion, Inlenliollal omissions of the override of internal
controls. We are not responsible lor preventing non-compliance and cannot be expected to delect non-
compliance with all laws and regulations.
Pagè 16

NEVILL HOLT COMMUNITY ARTS LIMITED
(A Company Llmlted by Guarantee)
INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF NEVILL HOLT COMMUNifY ARTS LIMITED
ICONTINUEDI
Afijther description of our responsibilities for the audit of the fi'nancial statements is located on the Financial
Reporting Council's website at.. ￿￿￿.1r¢.0r
Auditors, Report.
.uklaudltorsres￿0nSlbllitles. This de5CriPtion foms part of our
U59 of our report
Tlis report is rnade solèly to the charitable cornpanls rnernbers, as 8 body, in accordance with Chapter 3 of Part
16 of Ihe Companies Act 2006. and lo the charitablè cornpanls tru51ees, asabody, Part 4 01 the
Charth'es (A¢￿unt$ and Reports) RegLJlations 2008. Our audit work ha5 been undertaken so th81 we might
state lo the charitable companys mernbers those matters we are reqUI￿d to state to them in 8n Auditors,
Rewrt and for no Olher PLJrpose. To the fullest extent permitted by law, we do not accept or assurne
responsibility lo anyone other than the charitable company and its members, as a body. for our audit work, for
Ihls report. or for the opinions WÈ have fom)ed.
i.C @dsJ
Timothy Godson FCA (Senior Statylory Auditorl
for and on behalf of
Duncan & Toplis Audlt Limited, Statutory Auditor
5 Re501ulion Close
Endeavour Park
Boston
Lincolnshire
PE21 TfT
Dale..
18 March 2025
Page 17

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Limited by Guarantee)
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI
FOR THE PERIOD ENDED 30 AUGUST 2023
Restricted Unr8strlct•d
funds
funds
2023
2023
Total
fund
2023
Total
funds
2022
Notè
Income from..
Donations and legacigs..
Trusts and foundations
Mernbership donations
Gift aid
30,650
90,683
44,441
113,194
33,393
30.650
90,683
44,441
113,194
33.393
8,000
82,697
60,362
217,340
15,587
Ticket donations inc. donations in lieu
Other donations
Other trading adivthes..
Ticket s818S
Catering op8r8tions
Corporate sponsorship
Membership income
Programtne sales
Investments..
Other income
168,126
2.664
38,133
1,169
4,980
168,126
2,664
38,133
1,169
4,980
356,920
89.614
1,833
7,587
8.052
183.496
183,496
207,001
Total income
710.929
710,929
1,054.987
ExpÈnditure on-
Raising fund5
charitab￿ activities..
Fees- creative, productlon and artist
fees
Other activity Gosts
Cost ol raising funds
Management and financial SUPPDrt
costs
120,8331
120,8331
270,412
235,810
96,055
270.412
235,810
96.055
483, 713
584,369
86,690
178.710
87,415
30.895
133,991
178.710
87,415
30,895
133,991
189,014
,133
23. 148
131,416
Other admlnistralive expenses
Theatre bu1￿1ng maintenance
Depreciation
Total 9xp•ndlturè
1.012.455
1.012.455
1.587,483
Not 8xp•ndltuM beforg taxatlon
Taxation
1301,5261
175.000
1301,S261
175.000
(526,496)
254,614
Net movement In fund$
1126,5261
1126,5261
(271,882)
Page 18

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company LIMIt￿ by Guaranteel
CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND
EXPENDITURE ACCOUNTI ICONTINUEDI
FOR THE PERIOD ENDED 30 AUGUST2023
Restricted Unr•stricted
funds
funds
2023
2023
Total
funds
2023
Total
funds
2022
Note
Re¢onclllatlon of funds..
Total funds brought forward
Nel movement in funds
70.077
1554,9111
1126.5261
1484,8341
1126,5261
(212,952)
(271,882J
Total funds carrled forward
70.077
1681.4371
1611.3601
1484,834?
The Consolldatad Statement of Fin8ncial Activities includes all gains and losses recognised in the period.
The notes on pages 24 10 39 form part of these financial statements.
Page 19

NEVILL HOLT COMMUNrrY ARTS LIMITED
IA Company Llmltgd by Guarant••l
REGISTERED NUMBER: 09514461
CONSOLIDATED BALANCE SHEET
AS AT 30 AUGUST 2023
2023
2022
Not8
Flxgd assets
Tangible assets
5,927,655
6,061,646
5.927,655
6.061,646
Current assets
Debtors
Cash at bank and in hand
577,328
32.391
445,559
26,594
609,719
472, 153
Creditors.. amounts falling due within one
year
12
1232.9211
(347,240)
Nèt eurrent assets
376,798
124,913
Total assets lesJ5 current Ilabllltles
6,304,453
6,186,559
Creditors." amounts f811ing due aller more
than on8 year
13
16,915,813)
(6,671,393?
Net liabilit185 excluding penslon assèt
1611,3601
(484,834)
Total net a550ts
1611,3601
(484,834J
Charlty funds
Restricted funds
14
70,077
1681,4371
70,077
(554,911)
Unreslricted funds
14
Total funds
1611.360}
f484,834)
Page 20

NEVILL HOLT COMMUNtTY ARTS LIMITED
(A Company Llmlted by Guarnnt••}
REGISTERED NuMBeR". 09514461
CONSoL￿ATED BALANCE SHEET ICONTINUEDI
AS AT 30 AUGUST 2023
Tha Trustees 8d(nowWe their wponsibdit*3 for complying with the requirem6nts of th8 Aci with
rogpéct to aecounling and preparation ol finanoal stalernents.
The finanrAal 5tstements have ￿en prépared in aC￿TrIanCe ¥wth lh8 provÈsions app5eab18 to enb"15es subject io
th# small wmpanies regirne.
Thg ffnancial ststements approved 2nd 3v1hc￿Sed for issue by lh8 Trustees an¢J signed on thelr behaK by..
PO
J D P Duns•4th - Trust••
Data..
1813 j.2(
The notes on pages 24 to 39 fcKm part of Ihase finawal staternents.
Pago 21

IIEVILL HOLT COMIIUNffY ARTS LIMrrED
(A Cornwny Umtt•d by Guarnntee)
RE¢319TERED NUMBER: 09514461
COMPANY BALANCE SHEET
AS AT 30 AUGUST 2023
2023
2022
Flxed assets
IrNestrnent8
10
Cury•nt a88•ts
Oeblor¥
Ca¥h at bank and n hand
11
130.698
12.971
268.000
169
143,669
268, 169
Creditors= amounts fallinu due gne
year
12
173.392)
(198,092)
Net curr•nt as8¢1•
70,077
10.077
Total a•uts l•ts currert tsabHMI•s
70.078
70,OT6
N•t as••ts ￿CludIng p•nslon asset
70.078
70,078
Totsl not wel•
70.078
70,078
Charlty fund8
Rastricted hjnds
Un￿$1￿Cted funds
14
14
70.077
ro.077
Total fvnds
70,078
70,OT8
Th* Trustees ackn￿wI8￿gè Ih8ir resp￿sIb￿lieS for ￿Mptyl￿ With the requirernenls of the Act wlth
spect to accountlng reC￿S and pryaratic￿ of finand￿ 8t4ternents.
The financ¢al ststements have been Fryared in aco)rdance vrilh Ihe w0visi￿lS appfjcablè io entltios subject to
the $mall Gr￿panIeS reglme.
The finan¢lal $18teme
8pwov6d ar)d authcfj8e¢1 for i88ue by the Trustees and signed on behaff by..
J D P Dunseath- Trust0•
Thè notes on pa9è5 24 to 39 form part ofthese financial slatsments.
Paga 22

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlted by Guaranto01
GONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE PERIOD ENDED 30 AUGUST 2023
2023
2022
Note
Cash flows from operatlng aetivities
Net cash used in Opera￿ng activities
17
1238,6231
(262,509J
Ca$h flows from investlng aetlvltles
Purchas& o118ngible fixed assets
(64,259)
N•t cash provld8d byllused Inl invg$ting actlvities
164.2591
Cash flow$ from flnanelng actlvltlas
Cash inflow5 from new borrowing
244,420
82.517
Net cash provided by flnancing activitlèS
244.420
82.517
Change in cash and cash equivalents in tha p•riod
5.797
1244.2511
270,845
Cash and c85h equivalents at the beginning of the period
26.594
Cash and ¢a¥h equlval•nt$ at the end of the period
18
32,391
26,594
The notes on pagès 24 10 39 form part ol these financial statements
Page23

NEVILL HOLT COMMLINITY ARTS LIMITED
IA Company Llmited by Guarantèe)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
G•neral Informatlon
Nevill Holt Community Arts Limited is a registered charity, limited withoul shares, regi518red in England
and Wales. The Company's r8gislered number and registered office address can be found on the
Company Infomation page Ipage 11.
The financial stat@m&nts are presented in slerting which is th8 functional currency ol the Charitable
Company and Group and Tounded to the n&ar8st £.
Page 24

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
Aecountlng policles leontinuedl
2.1 Basls af preparation of financial statem¢nts
The financial stataments have been prepared in a¢¢ordance with the Charitiès SORP IFRS 1021
Accounting and Reporting by Charitie5.' Statement of Recommended Practice applicable to charities
preparing their accounts In accordance with the Financial Reporting Standard applicable in the UK
and Republit of Ireland IFRS 1021 (èffective 1 January 20191, the Financial Reporting Standard
applicable in the UK and Republi¢ of Ireland IFRS 1021 and the Cotnpanies Act 2006.
Nevill Holt Community Arts Llmited meets the definition tsf a public benefit entity under IRS 102.
Assets and liabilities are initially recognised al historical Cost or transaction value unl8SS Otherwise
Ststgd in the relevant a¢¢ounting policy.
The Consolidated Staternent ol Financial Activities ISOFAI and Consolidated Balance Sheet
consolidate the finanry81 staltsrnents of the Company and ils subsidiary undertaking. The rèsuts of
the subsidiary are consolidated on a line by line basis.
The group and component companies have changed iheir year end in the period frorn 31 August to 30
AugLJ$t. The group's accounting referenco date is 30 August. These financial staterllents are for the
period 1 September 2022 to 30 August 2023. The comparative figures are lor the period 1
Septemb8r 2021 to 31 August 2022.
The Company has taken advantsge of the exemption allowed under Section 408 of ihe Companies
Act 2006 and has not presented its own Sl8lemenl of Finanaal Activitie5 in these financial
statements.
At the statement of financial p05ition date. the Group had net Ilabilities of £611.36012022'. £484.8341.
Fixed assets include the theatre which opened to the public in June 2018. The cost of the build was
lunded by a loan from The Ross Foundation to Nevill Holt Festival Limited. N8viII Holt Festival Limited
has consequently incurred a liability of £6,915,813 at the period 8nd12022- £6,671,393).
Al the b'me o15igning this report lawyers acting on behalf ol the Trustees of Th8 Ross Foundation
and the Directors of Nevill Holt Festival Limited are near to finalising a long tèrm loan agreement and
terms ol lease betwè8n the two organisations. The Directors expect to commit to a loan repayment
schedu16 ovèr 50 y8ars which will pemiit earlier exil aftar not 18ss than a ￿40 year noticè ptrriod.
These clauses are intended to protect the interests of both partie5. Assurances have been oblained
that in the meantime the loan will not be rèca15Èd within twelve months.
This is an èxtr8mely difficult period for the arts comrnunity which is struggling to make back los¥es
frorn the disruption ol Covid, dealing with record inflation and suffering from lower ticket sales as
families struggle with the rising cost of living. The whole sector is facing significant challenge5 and
having lo makè difficult decisions. Nevill Holt Festival Llmited has equally been significantly impacted.
particulady as a result of falling audience numbers and later bookings of tickets whieh has put
pressure on cashflow Position. As a wholly owned subsidiary of the charity this has impacted on Nevill
Holt Community Arts Limited.
Page 25

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmited by Guarantee)
NOTES TO THE FINANGIAL STATEMENTS
FOR THE PERIOD ENDED 30AUGUST 2023
Accountlng polScl•s Icontlnu•dl
2.1 Basis af preparation of flnanclal stat•ments Icontinu•dl
Having reduced and simplified the 2023 programm8, the Group is focussèd on tha sustainability of
the organisation and strengthening of th8 financial position. Recognising the difficult financial position
at the end 012022. in June 2023 Nevill Holt Fastival Limitèd sgcured further support in the forrn of a
short-term bridging loan from The Ross Foundation to support the cashflow position.
As part of their golng concern review the Directors and Trustees have also undertaken a strategic
view of the busine55 and prepared cashflow forècasts. As part ol this strategic review. which ha5
delayed the production of these financial stalem8nts. the Directors and Trustees conb'nue to review
and develop plans for the future. With the continuing support of The R055 Foundation the
Directors and Trustees are confident that the Grovp can continue to trade and meet its debts a5
they fall due and conclude that the finanGial statements should be prepared on a going
ctsncern basis. Further Infomiation is included in the post balan¢e sheet avants note.
2.2 Income
All incom8 is reco9ni58d once tho Group has entitlement to the income, il is probable that the income
wlll be received and the amount of income receivable can be measured reliably.
Gr8nls and donations are included In the Consolidated Statement of Financial Activitie8 on a
receivable basis. The balance of income received for specific purposes bul not expended during th8
period is shown in the relevant funds on the BalanTr Sheet. whe￿ incorne is received in advance ol
entitlement of receipt, its recognition is deferred and induded in cred1tor5 as defèrred income. Where
entitlemènt occurs before incorne is received. the incorne is ac¢rueO.
Income tax recoverable in r8lalion to donations recew8d under Grft Aid or deeds of covenant is
recognised at the time of the dcsnat'on.
Other income is recognised in the period in which it is receivable and lo the extent the goods have
been provlded or on completion of thé service.
2.3 Expenditur•
Expenditure Is reo)gnis8d On￿ there is a legal or constructive obligation to transfer economic bènefit
to a thinl party. it is probable that a transfer c>f Ȣonomic b&nefits will be required in settlement and
the amount of thè obligation can be measured reliably. Expenditure is classified by activity. The costs
of each activity are made up ol the total ol direct costs and shared c()5ts, including support costs
involvgd in undertaking each activity. Direct costs attributablè to a sing16 activity are allocated directly
to that activity. Shared costs which contribute to more than one activity and 5UPPOrt cost5 which ar6
not attributable to a single activity are apportioned betW66n those activities on a basis consistent with
the use of resources. Central staff costs 8re allocated on the basis of time spent, and depreciation
charges ollocated on the portion of the asset's use.
Expenditure on charitable activitias is incurred on direcdy undertaking the activities which further Ihe
Group's objectives, as well as any associated support costs.
All ex￿ndItUre is incluswe of irrecov8rable VAT.
Pag8 26

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
Accountlng polici•s leontinuedl
2.4 Govèrnment grants
Gov8mrnent grants are reccyjnised at the fair valuè of the asset racèived or receivab18 when there is
reasonable assLJrance that the group will comply with conditions attsching to thèm and the grants will
be receivèd using the accru81 rnodel.
2.5 Taxatlon
Th8 parent company 15 considered lo pass the t8st5 sel out in Paragraph 1 Schedule 6 of the
Finanee Act 2010 and therefore it meets the définition of a chantablè ¢ompany for UK corporation lax
purposès. Accordingly, the parent company is potentially exempt frorn taxation in respect ol income
or capital gains recgivad within calegtsries covered by Chapter 3 Part 11 tsf the Corporation Tax Act
2010 or Section 256 ()f the Taxation of Charg&able Gains Act 1992, lo the extent th8t such income or
gains are applied exclusively to charitsble purposes.
The subsidiary undertaking is liable lo tax. Tax3tson for the period comprises current and deferred
tax. Tax is recognisèd in the Statement of Financial Activities, except to the extent that it relates to
items recognised in other comprehensive income or dlraclly in equity.
Current or deferred taxalon assets and liabilitiès are nol discounted.
Current tax is r9cognised at the amount of tax payable using the lax rates and laws that have bèèn
enacted c>r substantively enactèd by the Ststement of Financial Posib'on date.
Nevill Holt Festival ￿mited is eligible for Theatre Tax Relief on core production expenditure under the
provision5 of the Finance Act 2014. Tax credits are reGogni5ed when a reliable eslimale is available.
2.6 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cosl. After recognition. und8r the cost model, tangible
rixed assets are measured 81 cost less accumulated depreciation and any a￿UmUlated impairrnent
k>sses. Al costs incurr8d to bring a tsnglble fixed asset into Its intended working condition are
Included in the measLJrement ol cost.
At each reporting date tha Company assesses whethèr th8r8 is any indication of imp8imierit. If such
indication exists, the recoverable amount of the a55et is estimated and CoMpa￿d lo the carrying
amount. When thè carrying amount exc8gds its recoverable amount. an impairment loss is
recognised in the income statement or against any previously recogni58d revaluation reseN88 held in
relation to the asset.
Dep￿CiatIon is charged so as lo allocate the c05t ol tangible fixed assets less their rèsidual value
over their estimated usèful lives.
Depreaation 18 provided on the following basis..
Long-lerm leasehold- theatre
Equipment
2010 on cost
10% 8nd 20¥0 on cost
Page 27

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
Accountlng polieie5 lcontinuedl
2.7 Debtors
Trade and other debtors are recognised 8t the settlernenl amount after any trade discount offered.
Prèpayments are valued at th8 arnounl prepaid net of any trad8 discounts due.
2.8 Llabllltles and provl$lons
Liabilities 8re recognised when ther8 is an obli981ion al the Statement ol Financial P0511ion date as a
result of a past event, it is probabl& that a transfer of economie benèfit will be required in sett￿ment,
nd the amount of the settlement Gan be estimated r81i8bly.
Liabilities are r￿gnISed at the amount that the GTOUP anticipates it will pay lo settle the debt or the
amount it has rec6iv8d as advanced payments for th8 goods or services it must provide.
Provisions are mèasLJred at the best estirnate of the amounts required 10 3ettle the obligation. Where
the effect of the IiTlle value ol money is material, thè provision is based on the present value of those
mounts. discounted at the pre-tax discount rate that reflects the risks sp&cific to the liability. The
unwindlng of the discount is recognised Sn the Consolidated Slalement of Financial Activitlès 8$ a
finance cost.
2.9 Finan¢lal Instruments
The Group only has financial assets and financial liabilitie5 01 a kind that qualify as basic financial
instruments. Basic financi81 instruments are initially recognised at tran58Ction value and subsequenuy
measured at their 5etUernent value.
2.10 Operating lea￿S
Rentals paod under operating leases are charged to the Consolidated Statement of Financial
Activities on a straight lin8 basis over the lease term.
2.11 Ptrnslons
The Group operates a defined contribution pension $¢heme and the pension charge represents the
amounts payable by th8 Group to the fund in respect ol the year.
Conlributions payable to the group's pension s¢h8mg are charged to the ststement of financi81
activitie5 in the period to which they r81ate.
2.12 Fund accounting
General funds are unrestricted funds which are avail8b￿ for use at the discretion tsf the Trustees in
furtherance c>f the general objectives ol the GroLJP and which have not been designated for other
purp0588.
Restricted funds are funds which are to be used in accordanc8 With speoffic reslriclions Imposed by
donors or which have been raised by the Group for particular purposes. The c05t5 of raising and
administering such funds are charged against Ihe specific fund. The airn and use of each restricted
fund is set out in the notès to tha financial slalemenis.
Page 28

NEVILL HOLT COMMUNITY ARTS LIMITED
(A Company Limitod by Guaranto01
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
Crltlcal accountlng estlmatss and areas of Judgement
In the application of the Group's accoLJnling policies, managgment is required lo make judgements,
estimates and assumptions about thè e8rrying value of assets and liabilities that ar8 not readily apparent
from other sources. The estimate5 and undedying assumptions are based ()n hi5toric81 experieneè and
other factors that are ¢onsidered to be relevant. Actual results may differ from these estimates.
The estimate5 and underlying assumptions ara rèviewed on an ongoSng basis. Revisions to accounting
estimates are recognised in the period in which the estimate is revised if the revision affects only that
period, or in the period of tha rèvision and future p*riod8 rf the revision affects both currenl and futur
perio(Is.
Critical accounting estimates snd assumption8'.
De
reciation of the Theatre
The Theatre is being depreciated over th8 life of the lease. This is Subject lo managements, judgernent as
the agreement has not been fin81ised at this stage. The relevant charge lo the accounts is reviewed al
each year end to ensure that the basis is appropriate and arnended whera nè¢es$ary.
Other incoming r&sourcos
Unrestrlcted
funds
2023
Totsl
fvnds
2023
Trusts and found8tions
Donations from corporate and charitable supporters
Other income
CO￿roduction rècèipts
53,421
45,785
34.290
50,000
53.421
45,785
34.290
50,000
183,496
183,496
Total
fvnds
funds
funds
Trusts and foundations
Don8tion8 from corporate and charitable supporters
Oth8r incom8
Co-productK)n receipts
80,000
61,900
15, 101
80.000
61.900
15, 101
50,000
50.000
157.001
207,001
Page 29

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
Auditors. rnmuneratlon
2023
2022
Fees payable lo the Group's auditor lor th& audit of the Group's 8nnu8i
accounts
13.000
13.500
Fees payable lo the Group's auditor in respect of..
All non-oudit Services not included 8bove
8,500
22.758
Staff costs
Group
2023
Group
2022
Wages and salaries
Social security costs
Contribution to defined contribub'on pension schemes
91.000
6.681
8,S19
113,246
6,300
9. 101
106,200
728.64T
All contributions to defined contributSon pènslon schemes are allocated to unrestrieted fvnd5.
The 8verage number of persons 8mploygd by the Company during the period was as
follows..
Group
2023
Group
2022
No.
Management
No employee received remuner8lion amounting to more than £60,000 in either year.
The total employ88 benefits paid to key management p8r$onnel were £35,95612022.. £61.9981.
Trust8•$' rèmuneration and expens85
During the period, no Trustèès raceived any ￿MUneration or other benefits (2022- £NIL).
During the pèriod ended 30 August 2023, no expenses were reimbursed or paid direcuy to any of the
Truste&s (2022- £Nill.
Page 30

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Cornpany LFmlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
Tanglbl• flxed asset$
Group and Company
Long-temi
leasehold
property
Plant and
maehinery
Total
Cost or valuatlgn
At 1 September 2022
6,590,535
44,899
6,635A34
At 30 August 2023
6.590.535
44,899
6,635,434
Depreclation
At 1 Septèmber 2022
Charge for the y82r
550,239
131,811
23,549
2.180
573,788
133.991
At 30 August 2023
682,050
25.729
707,779
Net book value
AI 30 August 2023
5,908,485
19,170
5,927,655
At31 August 2022
6.040,296
21,350
6,061,646
Tangible fixed assets relate to the subsidiary company onty.
Taxation
Nevill Holt Community Arts Limited is a company limited by guarantee and 18 a r8gi8tered charity. A8 suGh
it is eligible for the relief 8pplicable to charities.
Nevill Holl Festival Limited is a trading subsidiary 8nd is Èligible to claim Theatre Tax Rglief under the
provisions of the Finance Act 2014 in respect of core expenditure on productions.
Page 31

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlted by Guarant••)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
10.
Fixed asset investments
Investments
ub5idiary
¢ompanies
Company
Co$t or valuation
At 1 Septenber 2022
At 30 August 2023
N8t book value
AI 30 August 2023
At 31 August 2022
Principal 5ub5idiaries
Thè following wa5 a subsidiary undertaking of the Company..
Nam8
Company
number
Reglstered offlce or prlnclpal Prlncipal actSvlty
plaee of business
Newll Holt Festival Limited
08351346
Nevill Holt Theatre, Nevill Ho￿,
Leicestershire, LE16 8EG
Musx3V¢¥w8b'c
perfomiances
Class of
share5
Holdlng
Ineluded in
consolidation
Ordinary
100% Yes
Page 32

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmltèd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
10. Flxed assot In¥estm•nts Icontlnu•dl
The financial results of the subsidiary for th8 period w•r8'.
Name
Incom•
Eyrxlth ProflVILossI Was5ets
I for the
perlod
Nevill Holt Festival Limited
710.930
1,012,455
1301,5251
1681,4361
11.
Dèbtors
Group
2023
Group
2022
Company
2023
Company
2022
Due wlthln one year
Trade d8blors
Amounts owed by group und8rtaklngs
Other debtors
Prepayments and accrued income
Tax recoverable
35,718
12.8T4
129,245
1,453
267.OQO
1,000
18,724
106,113
416.773
70,834
120,078
241,773
577,328
445,559
130.698
268.000
Page 33

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmited by Guarantee}
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
12. Cr•dltors'. Amounts falllng duo wlthln ona yaar
Group
2023
Gmup
2022
Company
2023
Company
2022
Trade creditors
Arnoun15 owed to group undertakings
Othgr t8x81ion and social security
Other creditors
Accruals and deferred income
133,629
211. 154
72,432
198,092
2,81 T
2T,387
105,882
31,030
68,262
1.160
232.921
347,240
73.592
198,092
13. Creditors.. Amounts falling du• aftar more than one year
Group
2023
Group
2022
Other bans
6,915,813
6,671,393
Other creditors include a loan from The Ross Foundation of £6,915,81312022- £6,671,3931 which funded
the building of the theatre.
5ocur•d dèbts
Ouring the period a legal charge was registered 1¢ The R055 Foundation over the bank account balances
of Nevill Holl Festival Limited.
Page 34

NEVILL HOLT COMMUNITY ARTS LIMrrED
IA Company Llmlt•d by Guarante•l
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
14.
Statemènt of funds
8tatement of funds- curr8nt period
Balance at 1
Soptember
2022
Balan¢e at
30 August
2023
Incomè Exponditure
Taxation
Unrestrlet•d funds
General Fund$ 811 funds
Resetvès
15S4,9121
710,929
11,012,45SI
175.000
1681,4381
1SS4.9111
710,929 11,012,455)
175,000
1681,4371
Restricted funds
Restricted Funds- all funds
70,077
70.077
Total of funds
{484.8341
710,929 (1,012,455)
175.000
1611,3601
Stat•m8nt of fund$ - prlor year
Balance al
I September
2021
Balance al
31 Augusl
2022
In¢oFne Expenditure
Taxation
Unrèstricted funds
General fund
[283.029)
999,987
(7,526,483)
254.674
f554.91t)
Rtstrictgd funds
Restricted fund
70,077
55,000
(55.000)
70.077
Total of funds
(212,952J
1,054.987 (1,581,483)
254.614
(484,834)
Page 35

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlt•d by Guaranteel
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
IS. Summary offunds
Summary of funds - curr8nt perlod
Balance at 1
September
2022
Balance at
30 August
2023
Incomo Exp•ndlture
Taxatlon
General funds
1554.9111
70.077
710.929 11,012,455)
175.000
1681,4371
70,077
Restrict8d funds
1484.8341
710,929 11,012,455)
175.000
1611,3601
Summary of funds . prior year
Balanca at
I September
2021
Balance al
31 August
2022
Incom$ Expendrfure
Taxation
General funds
Restricted funds
(283,029)
7Q,077
999,987 (1,526.483)
55.000
(55,000)
254,614
(554.911)
70,077
f212.952J
1.054,987
(7.581,483)
254,614
(484.834)
The r8strf¢ted fund comprises donations received which are only to ba us8d t0 3UPPOrt the activities of
Nevill Holt Festival Limiled. The fund inclu¢Yes grants or arÈ3s of incorne for which a specific purpose has
been outlined by the body or individual Tnaking the grant or donation. For example, a grant m8y b8 made
specifically to supptsrt N8viII Holt Festival Limited's community and education programmè, or lowards its
young artlst scheme.
16.
Analysls of net assets between funds
Analysis of n8t ass8t$ bgtween funds- current perlod
Restricted Unrestrlcted
funds
funds
2023
2023
Totsl
funds
2023
Tangible fixed ass¢ts
Current assets
Creditors due within one year
Creditors due in MO￿ than one year
5,927,655
5,927,655
539,642
609,719
1232,9211
1232,9211
16,915.8131 16,915,8131
70,077
Total
70,077
1681,4371
{611,3601
Page 36

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlted by Guarant￿)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
16. Anatysis of net ass8ts bgtwoen funds Icontinuedl
Anatysis of net assets betweèn funds- prlor year
Restricted UnrestriGtecl
funds
lunds
2022
2022
Total
funds
2022
Tangibl8 fixed assets
Current assets
Creditors due wlhin one year
Creditors due in more than one year
6,061,646
6,061.646
402,076
472, 153
(34T,24Q)
(347,240)
f6.6T1,393J (6,677,393)
70,OT7
Total
70,077
(554,911)
(484,834J
17.
Reeonciliatlon ol n•t movement In funds to not cash flow from opèratlng actlvities
Group
2023
Group
2022
Not expenditure for the p8riod185 pgr Statement of Financi81 Activities)
1126,5261
(271.882)
Adlustrnents for..
Depreciation ¢harges
D8cre8$e in stocks
Incr8ase in debtors
Decrease in creditors
133.991
131,416
2,947
(41.817)
(83, 173)
{131,7691
1114,3191
Net cash usèd in operating actlvitles
1238,6231
{262,509J
18. Analysis of cash and cash trquivalents
Group
2023
Gmup
2022
Cash in hand
32,391
26,594
Total cash and eash aquivalonts
32,391
26,594
Page 37

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Llmlted by Guarant•èl
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
19. Analysis of change$ in net debt
At1
Septembèr
At30
2022 Cash flow$ August 2023
Cash al bank and in hand
D8bl due after 1 year
26,594
16,671,3931
5,797
32,391
1244,4201 16,915,813)
16,644,799)
1238.6231 {6,883.4221
20.
Operatlng lease commitments
AI 30 August 2023 the Group and the Company had commitments lo make future minimum lease
p8yrnents under nonwcancellable operdling lèases as follows..
Group
2023
Group
2022
Not later than 1 ￿ar
Later than 1 yèar and not later than 5 years
684
1,196
684
1,880
1,880
2.564
The folbwing lease payments have been racognised as an expènse in the Statement of Financial
Activities..
Group
2023
Group
2022
Operating lease rent8L8
684
684
684
Page 38

NEVILL HOLT COMMUNITY ARTS LIMITED
IA Company Limitod by Guarnnt•e)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 AUGUST 2023
21. Relatod party transaetlonB
The Diie¢lors and Trustees of the Charitabk Company and thè Diredors ol 5ts subsidiary do not receive
fees or Salaries for the performance of their OirethrlTrustee roles. Nor do they claim for r8funds of
associsted personal expenses.
Finanaal Stal8ments of both Nevill Holl Festival Limitèd and Nevill Holt Community Arts Limited iriclude
imrnatènal transactions with membgrs ol both b(>ards which arose during the normal course of business".
no discounts on purchases of èvent tickets or goods are received by virtue of their position on the Board.
The financial statements include the following receivable grants and donations given wthout conditions
and are disclosed in accordance wlh SORP IFRS 102 rèvised) requirements".
Donations wilhoul conditions receivable from tho Trusle&s of Nevill Holt Community Arts Limited.
the Directors of Nevill Holt Festival LITnited and related parties totallad £84.281 12022..
£111,987). This in¢ludes a grant of £53,421 from The Ross Foundalion12022'. £80,(KIOI.
Nevill Holt Festival Limited incurred £42,409 12022.. £39,005) to acqui￿ Insuran￿ lon
nomal cornmercial tem51 brokered through Locktons of which one ol the Dir8ctors of Nevill Holt
Festival Limitad is a Partner.
Nèvill Holl Festival Lirniled incurred no expense 12022: £2.2081 on accommodation cosis lon
nomial commercial termsl through Subtle Productions LimSted of which one of the Directors of
Nevill Holt Festival Limited is a Director.
Amounts due to Nevill Holt Community Arts Limited from related partias at the period end
lolalled £Nil12022'. £1.0001.
Amounts due from Nevill Holl Faslival Limitedto ralat8d parties at the period end totalled
£6,915,81312022.. £6.671.3931.
22. Post balancé sheet events
Following the period covered by these financial statements there have been some ¢hanges to the Board
as noted on page 10.
For the 2024 festival season, James Da¢￿ was appointed as guest Festival Director and h8lp6d the board
develop a broader programme of èvents.
The Ross Foundation has continLJed to provide cashflow loan support. with future repaymènts to be made
on recaipt of Thealre Tax R81ief claims and other sources ol income.
Nevill Holt Fe5tiv81 Limited is vèry grateful lo receive continuing support from The Rts55 Foundation, as
well as from other trusts and foundations and individual supporters.
Tickets for the 2025 festival arè currently on sale.
Pag8 39