REGISTERED COMPANY NUMBER: 10492115 (England and Wales) REGISTERED CHARITY NUMBER: 1174253 Re rt of the Trustees and AJJdtt811 Financ1 Statèments for the r erKkd 31 2023 THE BARN THEATRE PROJECT COMPANY LIMITED 8Y GUARANT Regulatory Audit Vuwe Court 160 Emiin Street Swnth)n SN3 4NE
THE BARN THEATR PR Fin r 2023 RenCe an(1 PAlministrabve Details Rep)rt ol the Trustees 2 10 5 R6rK)rt of thè IrL(leFndent AUditS 6 to 7 st8m8nt tsf Finanaal A£b"vibas Baiqnce Sheet Cash Flow Statement 10 Notes to the Cash Fkw4 Slatement Not&% to the Finanoal Statem 12 to 19 Detsi18d Statement of FInala1 Activit*s 20 to 21
THE BARN THEATRE PROJECT Refere nd Administrdtive Det81 r ended 31 December 2023 I Cadiro- Tr¢tee and Chairman CA Cading S J Thackabery J K Hayward N M Homby J M C Mana88eh M P J O'Kéèfè IRasign8d 6 Jun8 20231 CFBWoodd R J B8nton {Appnted 15 June 20231 C J Burton (Appointed 15 Junè 20231 R•glstèY•d officè Spmgfiehy Hwse 45 Welsh Bad( Bfist BS1 4AG Registerod ¢cryany nUmr 10492115 {England and Wales) R•glster•d charrty number 1174253 Senlor statutory alItOr Rotert Stres FCCA ACA Ind•p•nd•nt au(to Reguktory Audit Vicarage Court 160 Emin Street Swnd SN3 4NE Page 1
BARN THEATRE PROJE
rt ol the Twustees
ear end 31 December 2023
the
The trustees WIK) are also directo of the (tsrity for the puryx)ses of the Companies Act 201, prèsant th8ir rèport
the financial statemènts of the tharrty for the n(l 1 April 2022 tr) 31 Dec&mt 2022. The trust havè adopted the
provisions of Ac(x)unb"ng and RertIng by Charib"es." Stalent of Re)mMe¢d Practicè applicaiaÈ to charities
preparing their8ccounts in ae(x)rdance th the Finana81 Reporb"ng StaTh1ard applicable in the UK and Republic of Ireland
IFRS 102) loffectNe 1 January 20191.
ObJeetivÈs and aetivitiès
Obiec¢ives and aims
Our ¢hantys purposes as set out in th9 d4"9(ts (x)rrtained in th8 (xxnpAn$ VAnK)r8ndum of1#b.0n 8r& as frjllows."
'The Chartvs obJ"8ds are r$stred sFwfKIty. in ead) ose ontyforthe puNic bengfftto promots. maintain, imwove and
enhance access to all aSS of profess¥Jnal and amatwr pthirvJ art thè develL)mènl of public 8pprecialion of
such art and to advance public educth.on in rdation to rt."
Sign1cant activities
Despite the loss of Arts Council England {ACEI fvnding, whith, Itke many other theatres, wè èxpèriéncéd followng thr
abrupt (ange in policy in November 2022. our obj'eaives for the 12-month peri
THE BARN THEATRE PROJECT rt ofthe Tnjstees 202 Stratsgi¢ report Financial position After gwd growth in the prewoLkS Feric¥J sales of ticets again grew yJb5tantialty during 2023, by 30.5%. However the costs of producbon and creative (x)sts also inLyeased gabstantially and inftation causing an increase in overheads100, rn8nagement oncè again did well in kw"n9 the ovetheads at a manageable ve1. after alk)wng for briryJing wages for and ¢rw up to Equrty rates. Despite the loss of£525.CX)O per annum crfACE fvnding the totsl fund raiwng a¢hi&veil £629.000 8n iftcrèasè in non-ACE funding of 155%. albeit this indud&Y 5unffi¢7nt cA)ntribub"on fnm thèftyjnderswho continue to offeractual and contingency supportto thg Charity during thgse challenging times. lIst a new business plan o)nts"nues to be developeLI. Overall the thartty registswl 8 surplus for the year of £5.270 ojnpared the 9 months to 31 December 2022 of £138,377. This indudes funds rak8ed to brNJge Ch•ity into the next finala1 year. Fc41owing the ACE aDrunceMent the Trustee8 made the drffi1tt deoswjn to concentrate on the qualty ol the product as a sustainable wmpetitive advaritag8 in order to justsfy thè k)yaty of ils audience and supporters. As a result we contsnue wth bo cmtive prcgramming, commthent. and tYJht Managent. Investment policy and objectives Aside from retaining, where p95sible, a prudpnt alr1 in reserves eath year Thh)st ol the Chtys funds are lo be spent in the Short tem so there are limit1 ftjnds availatrAg reseNes and h)ng tefft investment. RerveS policy The Martagemt Commrttee has examined the charitys wuirements for reserves in light of the main risks to th& organisation. Unts'l saty'sfartory Or01r9 charitaNe fvnding has been otld this is mt an area that can be addressed as concantration has to t on funditYJ ojrrent OFeratKffis and ain. Futur8 plan. The Charty plans to continue and dèvèlq) its acti¥e$ in Ihe fc<thcomin9 years subjed to satisfactory funding arrangements. The Twstses wnb"nu8 lo kK)k at 1XH)rattve arrangements wth commeroal producers in order to capitalisè on the future lrftr ol rts c3"0ns. Much effort is also beirMJ expended on developityJ the sales fwtprint of the Theatre, which continues to bear frurt, with ticket sakn sb"Il o)nsistentty growing for the right productions. We expect this to wntinue as the Bam's reputstion cA)ntinues to spr8ad, alttrwJugh w8 musl r8ffl8rnb8r ¢M)è production "Sorry Prime Minist¢1 hod record sales during this penod. At the date of &gning it K% dear thatthe unlTh3 need for a new tryJsrEss supp)rt model lin the absence ofACE 5UPPOrt - the tradtsonal r(e for a theatre of this type) is sb"Il the challenge for tho trustees. Commeraal partnerships and touring, prewously an intsrestiry opts., now appaar tr) be a vw necessary part of the Bam's pnnIng. Much work is bèing done on thts and thè inthl resutts from nt and transfers have demonstrdted a huge intere51 from cornmgrcial partners in workn with th8 Bam. At Ihè samè b.me thè Tntstaes ha madè a 0)nscAJS decision to recruit more expenenced and capable leaders into our prcmyiryJ and prcAYuGtionltechnil tearns. In order that our CEOIArb"skn"c Director 18 fre8 to KAay to his strengttks in firKling and n8gotiab.ng commeraal and wro patherships. Our traditional core supporters continue to Fwv*Je transtbonal Sup1 but the Trusleas believe that an innovalve and more permanent partnering arrangement wrth an organisation interested in the Bam's excellent and consistent (xeab"v8 product output may be an attracb.ve way foward. These Optio are being activety examined. aert until then. despite the usual financi presSUs, the 8am remains in a sale postKJn due Lqrgely to the ntinu stjpport of the Founders. Structure, wemance and managemert Governing documerrt The organis8tion Is 8 Gharitsbl$ mnpany limried by guarantee, incorporated on 22 Novemter 2016 and rgJistered as 8 charity on 15 August 2017. The company was established under a Memorandum of Association vknith e5tsblished th8 objects and powers ofthe charitable company and is govemed underitsthdes of A8scoaknon. In the evwl oftho rnpanY being wound up rrEmbers are reqwred to o)ntribute an amount not exceeding £10. Page 3
ThE BARN ThEATRE PROJECT of the Truslaes ear ended 31 December 2023 lor the Structure. governanc8 and man3M•At RrUItMent and appointment of new tmsl¢es The directors of the CoMnY are also charity tnjstees ftx the purFoses of tharity law and under the company's Artides are knovm as members of thè Managément CoMMrf. Un(kn th& wUir8nts of the Memorandum and Arbcles of Assouation the members of the Management Commrttee are uld to rètirè by rotstion. S Thack8bery and C Woodd have 80 retired and have been unanimously re-elect8d. All member of the ManagorTtent Committee their voluntsrity and receNed no beneffts from the charity. Any expenses ClaIM&(l from thè charity arè sèt out in thé notès to the acunts. Duè to ts nature oftho d)arity, rnh ofthe Chare8 work f(KLWS on young PeOe. The Managent Committee seeks to ensure that the rwds ofthis group are appropriately reflerted in rb FM)licies. Young people fom a lar9e part ol the Bam Thgalre's managernent and SLtpportteams aThJ these hpJhly invofved wple are dosety o)nsult&J regardirKJ the decisions of the Managèment Team. Organisational Structure The Theatre h8s a Management Committee th8t i8 respwsitje for the Strateg direction and policy of the charty. At the date of signing the Committe8 ha5 been 8nhanc8d by 2 more With olh8rs und8r (x)nsider2tion hawng due regard to improve diversty as well as bnnging in thJrtKJnal fundraEing eW"se aryj exrienCe to the wde variety of professional backgrounds already on the wmmittee. A sch6me ofdeleg8b.on 1$ in pl8(x day tr> day r8srK)nsibilty kn th& PW$KJn of the servi$ r8St with the CEOIArb'stic DtOr and Executive Director supported by PrQu1on, Tethni(xl, markeb.ng and FinancelAdrninistration stsff. The CEO1b5tic Dir8(or is resFK)nSIb for ensuriTrJ thatth8 (onty delivers the services specified aThJ that key performance indicators are met in line wtth wtml prtI[% arKI arb"sb"c exllen. He is also reSpSible for driving the important new fundraising initiative. Induction and training of new trustees Trustees are aladY familiar wrth thè prxl th of th8 thty. A{kIrt3[1y. truste88 are vited and encouraged to attend mè&tin9S to familiarise theMSee5 the thanty aNI the (xjntexl %%ylhin whKh il operate5. These are led by the Chair of the Management Committee and Ixjvor. The oblig8tK)ns of Management Committee member5. The main dooJm8nts which set out the op8rats"(al fram8WOFk for the tharrty indudiThJ the Memorandum and cles. Resourciro the current final4 w)sitK)n as sat (Mjt in the latest wNishJ a(unts. Fubjre plans and thiecbves. Related parties The Trustees are satisfied that transailions wrth lated pth.es are cm advanl8ge(MJS ams4ength tems and materialty bgnefil the Charity. Independent Trustee5 oversee any such arrangements. AJI transactions with related parties are disdosed in the notes to the a¢¢ounts. Ri$k management Tho Managemtsnl Comrrllttee has a revivw of the ma risks to the tharity is expos&J. A risk register is estsblished and wll be uFrtYated at $1 anThJalty. Where apprcpriate. systems or prctedures have b66n established to mitigate the risks the charity faces. Signffic8nt external risks to statutory fiJnding have to the deveknpment of a strategic plan whh wll alk)w the Management Commrttee to ty)nntrate on deVelopg Ikjnations from Trusts and Foundations. individuals and businesses in addition to other plans to dNersrfy fundiThJ and &bvibes. Intemal Ly)ntr( risks arB rninimis8d by th8 impl8m8ntab.on of procedures for aulh0risati ofall transath.ons and projeds. ProureS are in place to ensure C(pIlartt with heatth aThJ safety ofstaff, vcAuntsers, dients and visitors to the thoatre. Ststement of tnjstees. Tesponslbllftles The trustees (who ar8 also the directors ofThe Bam Theatre ProiecE for the purposes of o)mpany lawl are responsible for preparing the Report of the Trustees and the finarKial statemen15 in xx)rdan(% wilh apklb law and United KiThJdorn Acujunting Stsndards (United Kingdom Generally Awted Ao)wnting Praclicel. Page 4
THE BARN THEATRE PR rt of th& Trusta8s 1 Decem Statement of truste•s' r8¥ponsibilrties- continued Cornpany law requires tmstees to preparg finanaat $lments for eath financaal year vh)ith gNe a true and fair view of the state of affairs of the charitsble company and of the iniyJming resour anrt ap1(a)n of resources, including the in(vme and expenditure, of th& charitable 0)MnY fr)r that rwKKJ. In kyeparing ttse financ4al statements, the tnjstees are required to select surtabb accounting polioes and app them consi8t8nUy.' observe the methods and principles in the Charity SORP, makè judgèrn8nts and estirnates that are reasonab and prud¢ prepare the financkil slatements on ng Tr)ncem l)w's unless it is Inapprolate to presume that th8 charitable company wll o)ntiue in business. The trustees are responb for keetxng proper a(J)unting rewrds whh thsdose wrth reasonable accuracy at any tsm& the financial position of the charitablè eompany 8fMI to enable them to ensu that the finanaal ststeftnts comply with the Companies Act 2006. They a also responsibk for safeguarding the assets of the charitable o)mpany and hence for tsknng reasonable steps for th8 pravèntion and of fraud ar other irregularitie& In so far as the trustsos are aware.. there is no relevant audit inlormation of Wh the tarrtable ¢ompanls awjitors are unaware. and the trustees have taken all steps Ihat thèy ought to havè taken to make themsefves aware of any relevant audit infomiation and to estabSh that the audrtws are aware of th information. AuditOTS The auditors, Regulatory Aj1[ We appC#nt thJrirvJ the yearand will be WFK&s8dforr6-8ppOinthnt at the forthcorning Annual General Meets'ng. Re[rt L the tnjstees, i directors, on .... ratirKJ a stratgJic rwrt, approved by order of the tJard of trustees, as tha company .. 8fKI sKJned on the bo*d'$ behalf by.. Pe5
ndent jd' The Bam Theatre P ' of Opinion We have audited the fin8Tla1 Statem of The Bam Theatre Project (the 'charitsble comp8nll for the year eThJed 31 Drntr 2023 which comprise the Statem8nt of Finanaal Adivtties. the Ban Sh8et, the Cash Flow Stst8m8nt and notes to the financial statements, irHJtKJing a gJmmary of sIgnffint w)unbng polic. The fin8naal reporting framework that has been apIe{l in their weparation is applble law and United Kingdorn A(UtIng Standards (United Kingdom Generalty Acrapted A)tiJ Praccel. In our opinion the financial stslements". give a true and fwr view of th8 stste of charitawe oynpanls 8ffaits as at 31 December 2022 and of Its Incorning resources and application of resources. mduding rts income and gxperKltbJre, fc the period then end8d,. have been prOY preparod in a(wrdarKe wth United lQ"ngdom Genefally Accepted Ac(y)unb"ng Practice., and have been prepared in accordan witr) the requirements of the Companies Aci 2W6. Basis for opinion We o)nducted cwr audrt in &rxJrdartt with Intemational Stsr¥Jards Audr (UK) IISAS IUKII and applicable law. Our resp)nsibilitw urnler those standards a further deriEd in the Auditors, responsibile3 for the audrt ol the fina181 sternents section of our report. We 8re independent of the tharilable (x)mpany in accordan with the ethic requirements that arè rd&vant tL) our audTt ofthe finanoal siatements in the UK. incIling the FRCS Ethical Standard, and we have fulfilled our other ethi(zl responsibil"e$ in 8(xx)rdarth these requirements. We iElieve that the audit evidence wg have obtained is SLrfficient and 8pprLyiatè to pro¥Je a basLS for opjrln. Con¢lu$ions rolating to going con¢¢m Sn auditing thg finanoal statements, we have (XXKJLWj Ihat the trustees. of the going concem b&8is of Unting in the weparalion ofthe finan¢ial ststements 15 apprc¢Kiate. Based tx) the wctt we have perfOrn. we have rnt identifRd any material UnrtaIn"eS relating to events or condib.ons that, individually or tJll8ctivèly, may cast svJnifirant (kyjbt on the charitable companls abilty to continue as a going concem for a period of at least months from when the finarnyal statements ar& authorised lor issue. Our resporribilths and the respoN8ibilthes of the trustees wth to going concem are dgs¢ribed in the relevant sections of Ihis report. Othèr infomiation Thè trustees are fesFOnsb for the ottrw wrfOrmth. The olher informab.oft comwses the infomiation included in the nual Report. other than the finanryal statets and our Report of the Independent ALtdrtors thereon. Our opinion on the finarla1 ststements (kts not cover the other inforrr>81ion gnd, 8xipt to the exient otherwko 8xplidUy stated in our rep)rt, we do rK>t 8xwess any fo of assura )ru5 thefeon. In connection Jr audit ofthe finanal stsiemenls. our restx)nsitM"lrty is to read the other informab.on and, in doing so, consider whether the other informab.on is materialty inconsistent with the finanoal ststements or our knowledge obtained in the audf( or otherw5e OprS to be materialty lted. If we identify suth material inconsistencies or apparent Atena1 misstatements. w8 are rèquired to deiemine vkn8ther thi5 gives rise to a material misstatement in the financial statements themselves. K, based on the work we have perf(#imed. we (x)nclude that there is a material misstem8nt of this othèr inforrnat, we are required to re(M)rt that ft. We have nothing to repLt in this gard. Opinions on oth¢r mattèrs prescribed by the Companles Aci 2006 In our opini. based on the undertaken in the course of the audrt.. the information gNen in the Rep1 ofthe Trustees forthe financaal year forwhi¢h the finatxial statements are prepar8d is o)nsistent with thè financial slalements., and the Report of the Truste8s has teen wepared in a(w¢an wth aFvlicable al requirements. Mattèrs on which we are required to rwrt by excepti In the liJht of the knowl8(1ge ar understanding of the dritable company and its environment obtained in the course of the audrf£, we have not identsfied material mi%atements in the Report ofthe Truslees. We have rN)thing to in resFocl of the fdkmng matters vthere the Companies Art 20 requires us to retN)rt to you if. in our Opini.. adequats awunbng records have not besn kèpt retums a¢qvate for our a1[t have not been received from br8nches not visited by us.. or the finarrial statements are not in agreemenl vAth the arunb"n9 reo)rds and retLwns,' or rtain disclosuos of trustees, MneratiOn speufied by law are r1 made., or we have not receiv&J all the inf(mb"on explanations we requwe for our audit. Pagè 6
lThJe dent Audito TheBamTh Responsibiliti•s of trustees- administrator As explained more fully in Ihe Statement of Trustees, RespSibIlIties, the tNst88s Iwho are also the dirtorS of the charitable company for the purpos85 of company lawl a reswngble forthe pparatiOn of the financial stateryEnts and for being s8b"sfied that they give a tnje and fair view. and for $u¢h intemal control as the Injstees detemine is nÈeessary to enable the preparatKJn of financial statements Ihat are fre8fr(xn material misstatement. whether due to fraud or error. In preparing the fin8n¢ial ststements. the trustees are responsIbf0rasses$in9 the charitae companls abilty lo wntinug as a goiry Nncem, disdosing, as aFviicabSe, matters relat8d to going concem and usirrJ the going CeM basis of accounting unless thetrusteès &ther intend to liquidate the (th1¥blO company or to cEase op8ratsorts. or have no r88listic 8lternats"v but to do so. Our responsibilitie5 for the audit of the financial ststements Our objectives areto obtsin reasonable aguran aboutwhethefthefin8n(ial slementsasa theare freefrom material misstatement. whether due tu fraud o¥ error, a1 to isssje a Report of Ihe Independent AuditC4s Ihat itxlLyJes our opinion. Reasonable assurance is a high levd of assurance. but is not a guarantee that an audrt conducted in accordance wpth ISAS IUKI will always dete¢t a material mksstatemenl when it wsts. Mi&%tatements can arise frorn fraud or error and ara Consered merial rf, indNidudily or in the aregate, they (x)uld Teasonabty be expected to influence th8 ecmomi¢ erysion8 of usets tsken on the basis of these finan(ial statements. The extent to vthith our F¥ocgJures we capabk of detethrw irure$, rnduding fraud is detsiled below.. the nature ofthè sector. control environment and the C(MMpanls pwformance,. results of our 8nquiries of management and the tK)ard atK)ut their own identification and assessment of the risks of irregularilies,. any matters we id8rrttfd haviNJ cbtained and revie%d th& Company's dC(Unntstion of theiT pol1¢8 and prOdureS reiqtiro to.. Identsfw"r, evaluating and comp"[ vth18W5 and regulab.ons and whether they were awarè of any instances of non-cThmpliance'. detecbng and reswnding to the risks offraud and whether they have knowledge of any actud. 8uspe(Xed alleged fraud". the tyitemal controL% est8blishad to m(tigate risks ol fraud or non.c¢xnpliancè with laws and regulations", the matters dISased among the audit engagementteam regarding how aTrJ where frdLKJ mwJhl ¢Jxur in the financi stslements arKI any rthth.al iThJicatOf5 offra. As a resutt of these pr[dureS, we considered the opportUneS and in¢%nb"ves that may est wthin the organizalion for fra(Jd, which induded incorrect reo)gniticffi of revenue, management override of ccntrols usro manual journal entries, procuremgnt and pa011. Vve K1ents"fied the greatest WJtenb" frfraud as incorrec renitiOn ofrevenue and management override using manijal louM entri8S. In ccmmon wth all audits uThJer ISAS IUKI, we are also required to perfcKm 5perafiG procedures to resnd lo the risk of management override. We also obtsined an understandiryJ of the legal and regulatory franW0S that the Company operates in, fjng on provi5KJns of th(ks& LavS a1 regulations that had a direct effwx on thè dètemination of material amounts and discbosures in the finanixal ststements. The key laws and regulab'ons we ¢x)nsKlered in this context induded UK Companies Act aThJ tsx legIat#. In addrfN)n, we (x)nsKlered wovisions of other Laws and r8gul8lions that do mt have a direct effect on thg fin8ncial statements but comp15ance with which may b8 furKlamenlal to the CompanYs ability to operate or to avad a material penaty. These induded dats protection regulth"ons. ocuJpalK)nal heatth 8fKI saftsty r8gulab"orts, building kgislation and empyMent legislats.. Our procEdur8s lo respond to risks Kjentifiwl induded the folbmng: viewng the finanaal staternent disththw and testing to supporb'ng documentab.on to assess compliance with provisions of relevanl laws and reguL4tions described as having a dired eff8( on the finanaal statements,. rewewing the finarrial statement disclosure5 and tèsb"rKJ tr) supt"ng doojmentation to assess the re(non of r&venue", enquiring of Directors and manwJement o)rteming actual and Wem'al Igation and daims: perfomiing anaWc31 pro¢rest0 idenbfyanyunusual orurxFected relatKxJshipsthat may indicate risks of material misststerrenl due to fraud., and in addrn9 the risk of fravj through managerrent oveffldè ofc£)ntrc4s, to"r the appropriateness ofjournal entrig$ and other adjustments," and assessing whether the jUdgerTts made in making accounting estimates are indicab've of a potentrdl bia& We ai80 commUnKled relevant idenlffied laws and regulati$ and poteth.al fraud risks to all engagement team members, and remainad alert to any iThJi(a1S of fraud rK)rComlance with laws and regUL.0n$ throughout the audit. A fvrther descriptK)n of our respK)nsibilities for the aL*Jit of the financaal statements is lOted on the Financial Reporbng Councal's website at vhvw.frc.org.uklauditorsresp0nsilIts8$. d8S(¥iptK)n fo$ part of our Report of th& Independent Auditors. Page 7
Re rt f Ihe Inde dent ALJit The Bam Theatre Pro Members Use of our rèport This report is made solety lo the caritat4e rMpanY'S memLws. as a bojy, in acoxdance vAth Chapter 3 of Part 16 of the Companies Aci 2CM)6. Our 8ud.rt work has Lw) Uertaken so that we might ststè to the charitable company's members those rnatterswe are required to state lo them In an aLsdrtor5' rewM1 for no (rther purp)se. To the lullestextenl ptrmiitted by law. wè do rDt accept [* assume reswjnsibility to anyone other than thè charitable company and the tharitab (yJmp8nrfs membws as a body, for our audrt work, for this raprt or for Ihe opsrrions we havè fomed. Robert stokes FCCA ACA (Senr Statutory ALwJiior} for and on behalf of Regulatory Audr¢ Vicamge Court 160 Ermin Street Swindon SN3 4NE Date.. Page 7
THE BARN THEATRE PR Statement of Finaro81 Actwibes forthe ear en 1 Démber 2023 Perlod 114122 to 3111212022 Total funds Year gnded Year ended Year end 31112r23 3111W23 3111212023 Unrnstricted Restrfcted Total nds fvnds funds Ineome and endowrnents from Donations and legacies 640,112 9.462 649,574 709.874 Charitable tiVi.8$- Koductions Investsnent incorne 1.098.562 1.098,562 1.389 630,779 226 Totsl 1.740.063 9.462 1,749.525 1,340,879 Exp8nditur• on Fund raising costs 84614 83.614 60,733 Charltsbl• actlvldes Charitsble activities- ¢)Verd$ Charitsble a¢b'vfoes- woduc*on8 260.902 13902TI 260.902 1,399.739 179,936 961,832 9A62 Totsl 1.7¥793 1.744255 1.202,501 NET INCOME 5270 5.270 138.377 Recon¢illatlan of funds Total funds tKought foThArd 188A38 188.438 SO,(1 Tetal funds carried fonvard 193.708 193.708 188,438 The teS fo part ofthase finarK4al statements Page 8
E BARN TH PR 31 t)ecembÈr 2023 31n2r2023 3111212022 Fixed assèts Tangible assets Investments 12 13 1.092 1,843 1.000 2.843 Currgnt assets Oebtors Cash at bank and in han 14 153,543 675.940 102,050 248 171 829.483 350,221 Creditors Amounts fthling due within one year 15 1637,8671 1164,6261 Net curTent •ss•ts 191616 185,59S Total assets lèss euThent liabilities 193.708 188,438 NET ASSEfsiiuABIUTIESI 193,708 188,438 Funds Unrestricted funds 16 193.708 188.438 Totsl funds 193.708 188,438 The financial slateMts were approved by Ihe BcArd of Tn&$t and authoriwl for issue on........ and were 6ts tehaK by.. I Carting- Tru C W(M)dd. Trustee The notss fixm part of Ihese finarKial slatanents
THE BARN THEATRE PROJECT sh Flryw aren 18ment 31 Decern r 2023 Perfod 114122 to 31112122 Year En(l•d 31112123 Cash Il¢>ws from opgrating activib•S Cash gènerated from operats'c* Interest paid 445,722 201,382 1.795 Net casy) provmled byllused in) operatiro 2LII 199,587 Cash flows from inv•stin9 actt¥stles Purchase ol tangible fixe(l assets Rèpayment of related party bans Inte1 re¢ewed 11,49gi 118,600} 1J89 226 Net cash in investwig activities 17.211 1,2731 Change in aThJ cash equNalents th8 reporbng period Cash and c85h equNaknts at the teginnirwJ ofthe pOrtIrj period 427,769 198,315 49,857 Cash and cash equdIertts at the er¥J ofthe repng wri(xl The notes form partof these finarrial stateThnts Page 10
THE BARN THEATRE PROJE Notes to the for the nded 31 Dmber 2023 Reconciliation of net in¢omè to net cash Ilvw from opernting •¢trvitl•s Period 114122 to 31112122 Year Ended 31112123 Net incomè for th• r•portlng per11 (as per the Statemènt of Financlal Aetiviti•sl Adlustments for: Dèpreuation charges Interest r1j Int8r8st paid Decreasellincreasel in debto (Dacreasoyincrease in ¢xeditors 5270 138,377 751 11,3891 742 {39,4931 751 12261 1.795 67,347 6.662 Net ¢88h provid¢d by1{uS In) owations 201382 Analy¥i$ of ¢h•ng¢s In net funds At 01101rd3 Cash flow At 31112123 Nèt Cash Cash at bank and in h8nd 248.171 427.769 248.171 427,769 T¢tal 427.769 The note5 fom part of these finaal statwn PaJe11
TrE BARN THEATRE PROJE Notes to the Finanual Stste ar ended 31 D mb8r 2023 Accounting policies Basi$ gf prèparing the financial slat•ments The finan(ial ststements of the tharrtable company. whith is a publ benefit entity under FRS 102, have been pr8parec5 in accx)rdance wth thè Charities SORP IFRS 1021'Aco)unting and Reporting by Charities.. Statent of Recommended Practi¢x applicable to iaribes pparing their acwjnts in accordance with the Finanual Reporting Standard applicabb in the UK and Republ of Ireland IFRS 1021 leffectNe 1 January 20191.. Finanaal Reporting Stsndard 102'The Financial Reporting Stsndard aWi(xb in the UK and Republic of Ireland and the Companies Act 20(b. The financaal statements have tsn prepa1 u¥Thler the hi5ton.cal (x)st LVention, wth Ihe exception of investmwts which are induded al Maet value. Golng concern The twstees contnue to adopt the goirvJ conrn a3surnpb.on as the basis of prepai8b.on of the charity's financial ststemgnts. In doing so. the trust8s confirm they bel>8vè Ihat no material uncertaintses exist in the foreseeable future regardiro the tharws ability to wth.nue as a goiThJ ¢on(m. In 3ddth"C. the tharrty has the suppJt of Mr I Carfing wh) has wl¢at that vtheTe rw4uired, support will be prowded to enable the chaFity to meet its liaLMlities as tw fall due and will >t bg Wthdrawn wthin 12 months from the date of approwal of these finantsal staiements. Preparatim of eonsolldated financial stat•merts The financial statements contain Infomiation about Bam Theatre PrO1t as an 1ndwidL charty and do not contain consolidated financi81 infornats" as the parent of a group. The charity is exempt under Section 24.13A of the Charibes SORP IFRS 1021 from the requirernents lo prepare o)nsolid8ted financ4al statements as the subsidiary not material forlhe puw of giving a truè aThJ fair wew. Income All InMing resourc£s are includ1 in thè Slateml of Finarrial ACtse$ ISA)FAI vA)en the charity is legally entttled to the incornè after any Ferformance econ5 h8¥e met. the aKnt (gn be measured rgliabty and it is probable that the inrne wll t¢ received. For donationsto be rwntsed the thantywll have b8en nolifiad ol the amounts and the setdement date in writhng. If therè are conditKJns attathed tr) the donation and this requires a18vel of perfomance before entitlement can be obtained then ino)me is d8fwred until (x>ndilKsns are fully met th8 fulfIknt of those conditions is wrf(hin the control ol the thartty and it is probable that wll be fu111. Income from trading acbviti.es #idudes in(x>mè eamed trcrfn kndr8isiThJ events and trading athvknes to rdi8e fvnds for the charity. Income is r1ved in exd)aNJe for Supp.n9 gcKM1s and servi$ in ordèr to raise ndS and is recognised when enbt18m8nt has Eynditure Li8bilitiesare recognwd as expenditure as s( as there is a kgal orconstructive obligatiffl o)mmitting the (arity to that expenditure, it probable that a transfer of economic bgnèffts VAII be requir1 in seiuemenl and thè amount of the Dbligation can t measur&J rdiably. Expendrture is a(wJnted for on an amjals ba&s and has been cllfied under headings that aggregate JI ts)st Lted to the tegOry. Where costs cannot be directly attributed to parti¢LJlar headiThJs they have been alkKat8d to ath"vitses on a basis consistent with the use of resOurS.- Irrecoverable VAT is ¢tsrged as an expe against the acknty for lch expenditure arose. Allocatian and apportionmènt of eosts Support costs are those that assisl the work of the charity but not direcuy represent duritable activit5 and indude Offi cx)sts, govemance cx)StS. 8drrink8trative payrtAI cosis. They are incxjrred didIY in support of expenditure on thè Obj. of th8 charrty and include projed management rne(l out at Headquarters. Where support costs canmt diredty attributed to particular headings they have boen allocated to cost of raising fvnds and expenditu on charrtable activ8$ on a basis ng$tent wth use of the resources. Premises (x)sts and other ovetheads have been aliocat8(l as approprie. Fund-raiwng costs are those in(yJrred in seekiThJ volunlary ca)nlributions and do not indude the costs of (Jisseminab"ng informabon in supryJ1 of Ihe charilatya ti¥ll1&S. The an8lws ofthese costs is Ind in the ndes. PJge12 continued...
ThE BARN TH PR tes to the Fin for the ments. cuttinu nded 31 Dmber 2023 ArUnting polths- contSnued Tangible fixed assets Depreciation is proyidwj atth8 E4lcMng annual rate5 in orderto VAite off each asset 0r its esb"maled useful IrFe. Fixtures and f)ng8 Computer equipmènt 20% on o)sl 33% on cA)st Taxation The charity is exempt from c(YPK)ratK)n tsx on rts Ch)b a¢Jjth. Fund aeeounting Unr&8tiiced ftjnds can be uwj in a(xxKdartt wilh the thaiitabltr (%i"eth"ves at the discretion of the trustaès. Restrcted funds can onty be used for parhcular re5trided purpL&sès wthin the objects of the tharity. Restrictions arise when speca'fied by fne doTr or vknen funds are raised for Partbr restn.cted purposes. Furthar èxplanat)n ofthe nature arml puw of eath fvnd is Indled in tha notes to the finanryal statements. Hirn purchase and leasing ¢cMitin8nts Renla15 paid under operatin9 lease5 are ctrwggj to the Statement of Finan(ial Aclivities on a Straight Ilne basis over th8 WKXI oflhe lease. Investmer Fixed asset investm8ntS 8re a form of fiartraI inStEunI and a initsalty reccJnised at Ih8ir transaction cost and subsequerfy measured at f&r value at the Balanr£ sheet date. unsS fair valuè cannot be measured reliably in which case it is measured at cost less impairffent. Investment gains and losses. whether realised or un¥ealk8ed. are combined and shown in a separate heading in the Ststement of financAal activ85. Intsrest rgcelvable Interest on funds he on dep(K5rt is Ined when r1Vab and the anThnt can be me&wred fdiably by the company.. this is normally u[ notsficab.on of the interest paid cf payable by lJ)e Bank. Pènsions The company 013te$ a defined contritrw [wl0n scheme. The assets ofthe stheme are hekl separately trom those of the company in an indepenilently administered fund. The pension cost charge rep¥esents contributions payable by the (x)mpany to the fund, or empk)yees' pers(al pensin schemes. as 8ppropriate. Debtors and creditars r•tslvablelpayable within <)n• year Debtors and credrtors with no stated interest rat6 and receivable ry payable within one yaar are recorded 8t trdnsaction price. AJ)y losses arising from impwrTnent are rec£¥Jnised in expenditure. Cash at bank and In hand Cash at bank 8nd in hand indudes cash and slKxt tem highty liquid investments with a shc¥l maturity of th months or18ss fr(m the (Je of acquisiticn or oponiNJ oftho depo%'t or simi1 aox)unt. Donations and lega¢l•s Period 114122 Year Ended 3111W23 31112122 Donations (>ants 629.421 709,874 fj49,574 709.874 Grants reIVed. indud8(l in the atthie. are as frllows". P•riod 114122 to 31112122 Year Ended 31112123 Other granls Page 13 ¢>JntinugJ...
N THEATRE P thè Financial "nued forthe ear enrd 31 Dember 202 Donations and legacies (continued) Ild•d in donalions is a donabon of r30,C(#) frcffl the Foe F(yJndation to assist in the day to day njnning ofth& B8m Theatre. Induded in donatior6 are reslrthj donaivjns lotalling £9.462 in res of 'PY it Forw8rd' incLsrn. CharStable activitses" productions Period 114122 to 31112122 Year Ended 31112123 Ticket Sales Advertising IncLM))e 1.085,619 12,943 624,060 630,779 Investrnent in¢om• rlod 114122 Year Ended 31112123 31112122 Deposf( aOXt inlwest 226 Fund raising costs Raislng donatlons and 18gacl•s Pèrlod 114122 Ye¥r Ended 3111W23 31112122 Fund rwsing o)sts Charitable activities costs Support Direct eosts (see note 7) Totals charitab adivib"gs- overheads Charitable activrb"es. wtyjuctions 247.252 13,650 260,902 1399 739 1.660,641 Included in produclx)n costs is resln"¢tsl exwditure tolalling £9.462 which relale to'Play it Fc*ward' tickets. Theso b"ck&ts were donat8d by our supporter5 throughout trE year. Page 14 cntinued...
N TrEATRE PR to the Finan nkn.nugj for the ar ended 31 D&ember 2023 Support costs Gov•mance costs Finanee Totals Charitable *ivitigs- oVed$ 13.650 Suppc¥l 0)sts. indudgj in the 8bove. a as follows.. Finance 114122 Year Endéd 31112123 Charitable activiiies - ov•rheads 31112122 Totsl activities Bank charges Bank Interest 1.880 742 2,315 2.622 Governance cost5 Poriod 114122 Yr Ended 31112123 Charitable activitles - overheads 31112122 Totsl Oetlvltles Auditors Remunerab"on 11.028 12.6(M) Net lnc0mellexponlrr¥l Net in¢omellexpenditurel is stated after drn{credItiThJ). Period 114122 to 31112122 Year Ended 31112Q3 Auditors Remunerth"on Depreaati)n- owned assets Hire of plant an¢J macfmnery 11.028 751 12,600 751 Page15 conb"nued...
THE THEATRE PROJEC Fin n(ial Statements- for thè ear ended 31 Decernb8r 2023 Trustees. romuneration and benefrts There were no trustees, reMUneratiC c* olher barnffts for the year ended 31 Dmbar 2023 nor for the period ended 31 Dember 2022. There were rn trustees, exFerEes paid for the year ended 31 December 2023 Th)r for the period ended 31 tlecèmber 2022. 10. Staff costs Staff costs were as foliovts.. 2023 2122 Wages and salari85 SocAal seDJrity costs 370.498 30,865 283,998 23,659 5,202 408.194 312.859 The averdge monthly number ol employees (luring ts w"cMI was as follows: Period 114122 to 31112122 15 Year Ended 31112123 15 Th88tr8 based No employees receiv&J errK1lumts in èxcess of£60.(XY). 11. Comparatlves for the statement of financial activiliss Unrestricted funds Income and endowmènts from Donations and 18ga<aes 709,873 chantab acthities- produ¢XKM)8 Investment inrA)mè 630,779 226 Totsl 1340 878 Expenditur¢ an Fund raising cc6ts 60,733 Charltable activities Charitable activth"es- ovefheads Charrtable a¢b"vib"es- prc¥Juct 179,936 1,832 Ti)tsl 1202.501 NET INCOME 138.377 R¢¢onclliatlon of funds Totsl funds tought forward 50,061 Page 16 conttnued...
ThE BARN THEATRE PROJEC Note5 to the Financgal State èar enthd 31 "nued mb8r 2023 11. Comparatives for the stat¢ment of financial athits•s- contlnued Unr•strlcted funds Totsl funds earrled foThvard 12. Tangible fix•d assets Fixknl and fittlngs Comput¢r equipment Totals Cost At 1 January 2023 Addibons 9,913 10.977 At 31 t)ecember 2023 9.913 Depreciation At 1 January 2023 Charge for year 577 159 9.134 751 At 31 Drnber 2023 736 9,885 Net book valu• Al 31 De¢gmbgr 2023 328 764 At 310ecembef 2022 1,358 1,843 -13. Fixgd ass•t Investsnents Shares In group undert•kings Mark¢t valu• At 1 April 2022 and 31 c1Mber 2022 Net l)ook valu• At 31 December 2022 At 31 March 2022 1,000 The wgro no invesiment assets (Mrt&de the Ulc The o)mpanYs inv6sttrts at the balance sh8èt date in the share capital of wmpanies indude the following". Bam Theatre ErrteTprises Limried Regastered office". SpringfEld House. 45 Welsh Back, Brthl. Unrted Kingdom. BS1 4AG Nature of business.. Suprx)rt aCtiv"e$ to perfoming 3 Class of $harn: Or(linary holding 100 31112r23 31112122 Aggregate caiital and reserves (Lossyprofit for the year 14.9091 16,4601 721 Page 17 ccntinued...
N THEATRE PR(XIECT Notes to the Finanaal StsteThEnts- conb.nued futhe r endeil 31 December 2023 Debtor5: amounts falling due within one year 2023 2022 Trade debtors Olher debtors Prepayments 6.379 123.446 23,718 12,370 fj0,333 29,37 102.050 1S. Cr•drtors'. amounts falling duè withln one year 2023 2022 Trade credrtors Soaal s8cJJrrty and 0th8rtaxes 148.881 8,804 99,456 9,071 371.OS4 61,265 14,230 VAT Other £¥editors A1815 arKI deferred InMe 11,926 77,205 164,626 Deferred incom& Released to Incom5ng Asat1 D•ferred in Asat31 January 2023 the year December2023 rK4(et saks 58.605 158,605} 31,621 350,621 Total 350.621 350.621 At the balan sh8et date the d)arity was hokling funds received thi advan for services due to be dejivered after th8 year erxl 8nd ft)r whh entsuement tr) Ihe income is not receIvj unb"I the Se is deliver. 16. Movement In funds Balane• Incomlng resources Balance If expended Transfers Funds UnrgStri¢ied- General fvnd Rastricted fund 188.438 1.749,525 (1,744,255) 193,708 188.438 1,749,525 1,744,255 193708 The Restrict&J FuThJ is SOlY made of'Play it Frdr, irKome. This is a communty inIbthe, developed to 8llow everyone an opportunity to attess qualty theatre. regardless of inoyre, heath or age. Donations to our 'Play it Forward. have futKled th(MJsands of Jheatre $[L% from iLted older people and local state schools. In 2024 w8 are eXpar1n9 th8 inrtiati¥e to w)dude carter patts and those suffering with chronic pain and mentsl health problems. Page 18
THE Nol lo the Fi noal Ststements- for ren mber tinued 23 17. Related party dlselosures During the period sabsof£nil IpeMd ende(131 Dec£mikr2022-£1.579)were made tr) Inglde Herilage Limited, a company in which a trustee of The Bam TheabB Prciect is a dirertor. There was £nil outstanding at the rI1 end131 December 2022 £nill. During the wod sa$ of£7.315 [n0d ended 31 December 2022- £nill were made to Bam Theatre Entefpri Limrted, a eornpany in which a tntste8 of The Bam Theatre Project is a dir)T. At the period end a balance of £1.209 {31 December 2022 £nill remairled outstandiThJ. Duiingthe sales of£42.291 trnded 31 Decembw 2022-£17,9061 were made toAssociated Theatrgs Linted, a company in a trustee of The Barn Theatre Pro1 is a direcioT. Ai the period end a balance of £1,000 (31 December 2022- £nil I rem81r outstanding During Ihe period purdiases of £254.689 IperKxY ended 31 Deiber 2022- £101,969) were made frorn Ingleside Heritage Limited. a company in whid) a bustee of The Bam Theatre Project is a director. .At the wod end a balan of £4,576131 December 2022 - 17,2171 remained outstsndiryJ. These purchases are for There Hire £143,119 Iperi¢)Y ended 31 Decmber 2022- £86.5011, the costs of utilities in operating the theatre £65,985 (period ended 31 December 2022- £12.3121. and fJ. drink aLwnrNlats"on supplied to the Theatre £45,585 Iperi¢xl ended 31 DeTrmir 2022- £3.1551. During the purchases of £3,W) IperKKI ended 31 Decwnw 2022 - £3,LXX)} were made from Fosseway Propwbes Ltd. a company in whth a trustee ofThe Bam Theatre Proiectis a director. At the period end a balance of £ nil131 Drnb 2022 £nill maInl outslanth'ng. Ouring the period purchas8s of £84,260 (period ended 31 tkcemter 2022- £74.0(H)I were mada from Tedmart Theatre servi knmrted, a company in vthich a lSte& of The 8am Theatre Project LS 8 director. There was a balance ol £nil (31 Dth2022- £2,(Th) (xrtstandityJ atthe year The puithases were forte¢hnical support lo the Theatre. Duringthe period donatsonswere ofÈ89,841 ended 31 Decemb8r 2022- £97,758) from Tethsmart Theatre Servic£s knmf(ed. During the perth puwh8ses of £34.984 IperKrfJ arthd 31 December 2022 - £17.5281 were made from Oldfiéld Business Services Limited, a company in vknith a trustee d Thè Barn Thee Projed is a dirèctor. There was a balance outstanding * the year end of £22,384131 Del 2022- £nil}. DurirvJ the p8nod a donatN2n of £nil Ipwic¢J ended 31 tknmber 2022- £2,5WI was re¢eivod frorn Sl James's Plac Wealth Management. a company in vA)ich a trustee of The Bam Theatre Projed is a director. There was no balan(£ wtst9ndu at the year eThd131 Dewiber 2022- £nill. Page 18
THE BARN THEATRE PROJECT tailed Statem fFin nual Adivities for the ar ended 31 December Period 114122 Y•ar Ended 31112123 31rJ122 In¢oEllg and endowments Donations and le9acles DonalMJns Grants 629.421 20.153 709,874 649,574 709,874 Charitsbl• activities - productions Ticket Sale5 AdvertisiThJ Income 1,085,619 12.943 624,060 6.719 1.098.562 630,779 Invostment income Deposrt account interest 1.389 226 Totsl incoming re8ources 1.749.525 1,340.879 Exp9ndltur• Raising donation$ and l¢gad Fund raising c05t5 83,614 60.733 Charltable actlvities Hire of plant and machinery Producti(>n costs Insurare Telephone Postage and stationery Sundries Recruibnent Costs Rates Motor and Trav81 Cosls ornputers & Sofvare Lagal, professional 8nd frjmth.on fees Accountancy Repairs & Renewals Subscriptions Training CtEts Artistic managenEnt Ovethead salaries Bad Debt Depreciatth of tsngible fixed assets 5,322 949,832 15,014 397 2,070 4.949 630 7,045 5,571 1.399,739 36,718 1,312 1.978 13,975 7,726 54,824 9.475 19,845 3,600 3,632 13,538 1.262 150 43.623 33.S28 1,166 752 13.310 7,043 12,670 11,483 18,102 32,662 23,955 752 1.646.991 1,114.853 Support costs Finance Bank chargès 8rried forward 1,880 1,880 2,316 2,316 This pa3e ¢kns notfomi part ofthe statsjtcry finani?al stateThnts Page 20
THEB TrIEATRE PR Detwl Fmanci81 AdJwtie5 31 mbèr 20 ear Perlod 114122 Year Ended 31112123 31112122 Finance Brwght forward Bank tsntest 2,316 742 2,622 2.316 Governance costs Auditors Remunerab"on 11.028 6,OOQ Total resources ex 1.183,9Q2 Net income 5.270 This page does not fcffti part oflho slatulory finaal statements Page 21