REGISTERED COMPANY NUMBER.. f0492115 (England and Wales) REGISTERED CHARITY NUMBER: 1174253 THE BA PANY N THEAT MIT PROJECT UA Reguktory Avdit Vurage Court 160 Emwn Street SN3 4NE
THE TH TRE PROJECT Conients of ihe Financial Statements f the ear en 1 Decernr 2024 Page Referen and Adminislralive Details Report of Trustees Report ol the Independent Au¢Yilors Ststenl of Finanaal Activit 10 Balance Sheet Cash Flow Statement 12 Notes to the Cash Fl(yw Statement 13 Notes to tha Financial Statements 14 to 21 PagÈ 2
Reference and Administrative Details for the year ended 31 December 2024
THE BARN THEATRE PROJECT
Trustees I Carling - Trustee and Chairman C A Carling S J Thackaberry J K Hayward NM Hornby J M C Manasseh (Resigned 17 November 2024) CF B Woodd R J Benton CJ Burton Leadership team I Carling - Trustee and Chairman I Lewis - CEO/Artistic Director R Wright - Executive Director L McMullen - Executive Director Registered office Tanners Solicitors Lancaster House Thomas Street Cirencester GL7 2AX Registered company number 10492115 (England and Wales) Registered charity number 1174253 Senior statutory auditor Robert Stokes FCCA ACA Independent auditors Regulatory Audit Vicarage Court 160 Ermin Street Swindon SN34NE
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THE BA THEATRE PROJECT Re n of tne Trustees ear end 31 Decem for the r 2024 The Trustees who are a150 directors of the charity for the purposes of the Companies Ad 20(E, presenl thr report wilh the financial slalemenls of the ¢haiity lor the yèar ended 31 December 2024. The Trustees have adopted the provisions ol Accounting and Repofb"ng by Chaflties. Stalemer)t of Recomrrended practi applicab lo charities preparing their accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic ol Ireland IFRS 1021 (effective 1 January 20191. Objectivès and activities Objectivès and aims Our charity's purposes as sel out in the objects coitained in the company's Memofandum ofAssoc4alion are as follows.. 'The Charity's objecls are restricted specifically. In each case only for the public benefit to promote, maintain. improve and enhance ac¢e5S to all aSFecls ol profes510nal and amateur perftsrmirg art ancl the devebpment of public appreciation of such art and to advance public e(lucalion in relatn to rt." Significant activities It has bÈuhme very clear over the last 2 years that Arts Counul England IACEI porrfolio funding will remain highly unlikely. in spite ol the Bam Theatres consistent artislic perfomiance anil ieputabonal achievements as one ol the UK'S foremost produclion houses. since its launch in 2018. Over the last 2 years our efforts have thus bn very fimity focused on generating additional income streams working with comma¥cial producers to secure enhancement fvnding our productions in retum for their CeIVing a share of future life opportunlties We are also wodting ever more closely wilh oiher iheatfes who are attracted by the qualrty of our Ihealrical product and receiving payrnents toward5 our prixluction costs in tUrn for 8am productions bein9 made available. Finally we are increasingly teing approached by theatrical producers lo cteale digrtal media content for them. All of this is proceeding al a good pa - indeed In 2025 our Artstic Director and CEO and newty apwinted Executive Diroctor Liam Mcmullan, have already secured In excess of £2QO.000 in new income streams which ttyey ale hoping vrill compensate for our recent performance in fundraising which is becoming increasingty diffiojlt in the current climate. Funijraising contineS lo be a challenge and thè Barn Is cufrènlly seeking a top level head ol development lo help spèarhead new initialives in this essential area and to match the quality of1eadership with Ihat in the Charily as a whole. As In all other areas ol the Chanty our propensity lor proa¢iivty. Innova110n and blue sky thinking remain our most valuable attnbutes The Charily has a subsidiary company Bam Theatre EnleTprises Limited whose resuW5 are not Consolidated ifj ItrEse accounts as the Tru5ts feel that the Company's resulls are iiol material to the Charity. Bafn Theatre Entreprises Limited opeiale5 tne cinerna oflenng that ulilises the dark weeks of the Theatre. Public benofrt The Trustees have due regard to the guidance on public ben&frt PLJblished by the Charib'es Commission and beIVe the objectives meel this guidance. Our main activities and who we try to help are described below. All our charstable activilies focus on furthering OLJr Charitab puwes for the public benefft. Who used and benéftted frorn our $•rvices7 The people ol Cirencester, Ihe Cotswokls and further afield who saw our perfovvnances. The yOLtry people who benefited from our Youth and training prc¥Jrammes, and Ihe amateur and community groups who benefited from our outreach programmes. We considei the Barn lo be al UK aeT in Innovation and repatIOn sharing rts producbons w¢th olh9rs and thereby enhancing the UK theatrul S¢er as a whole. Finan¢ial p0SOn As th& Barn ha5 now established income continL1 to irk(xease110.6%1 albeit not al the 5ubslanlial growth rates achieved in previous year5, reflecting the need lor new iniliatrves to altract more saSes from further arId Overall thè ¢harily Trgislered a defityl for the year of £2.604 wnpared WAlh a surplus in 2023 of £5.270. The inCaSe in G¥05s Incixn6 was insufficient to cover the inCaSe in costs Inv8stm•nt poliey and objectivos Asmde from felaining. where possible. a prudent amount in Teserves ead) year most of the charity's funds are lo be spent in the short lerm so there are currelltly limiled available for reserve5 and long terrn invesknenl. ReseN•8 poITCy The Trustees have examined the char¢ty's requiremenls for reserves in light of the main risks to the organisalion. Oui aim is lo fomi carld forward reseives amounlir¥J to three mot)Ih5 of expendrture lo sLwp)rt the contsnued operation5 of the charity.
THE &4RN THE4T 31 Strntsgic report Futur• plan The plans outlinwj earl[ in pOrt alre n ha1, arvj rel a large part ofthe Charl5 future strategy. OveTall the Bam, due to the strategies desed above. and a fir51 cjass W¢)3ramme for 2025 drawing accLaim from all quarters, together with the strengthening of rts management team. which has transforn the ability of the A"stIC Director and CEO to ma¥imise CwnrMiaI deal. 15 in a fat 5trww Fostth)n tnan a year ago. are making progress and ar• increasingty o)nfKl&nt for the future. At the dale of ning, rt is dear that the ur¥Jerfyiro need for a rew business mc#Jd in the absen¢ of ACE sup (t tr•Jitnal roLrte lor a theatre of this type) 1$ still the rrraior dllenge for the TNslees. Commercial partnerships an(1 touring. previousty an inlefestirffJ option. now appeal lo be a very necessary part ol the Bam's plannirKJ. Muth wottt beiro do on this and the initial results from TnI lou(s arKI transfers have demonstrated a hLsge intefest fr¢)m commercial partnws in working with the Barn. Al the s>ne time ts Trustees have made a conscious deUs1 Io feuuil nb)re exp8rien¢ed and Capable 18aders into our proJuung aThJ pru¢bOnnechnl teams, in oth thal our CEOIArthslic Dir8clor is free lo play to hi8 strengths in findi and negotiatry C(mercal aThY cwo partnerships. Our trad1th core suppMws continue to provk transiliond support txrt the Truslets believe that an innovatNe and more Fwmanent partrering arrangement an organi8a1 interestgd in the Barn's excellent and consistent ttealr¥e product oulpul may be an attractNe way forward. These cpb'or6 are beirg &aively examinad. albeit until then, degp the usual financial pressures. the Bam remains in a safe posIn du8 largety to the continued support of the FouThJers. StrUcre. govwnanc• and manayment Go¥•rnlng doeum•nt The organisatn is a charitable e4)mpany liffthd by guarartee. irworatsd on 22 Narnber 2016 ¥nd regislwed a5 a charity on 15 AL¥JUSt 2017. The cowny was 8stsblishl under a Meffrtwandum of Associalion which established th¢ obie¢ls and F#)wers ofthe charitsble ¢>Jfr¢)any axl is govern underits Artides ofAs50cialK)n. In the event of the c¢>npany beiNJ wound up rrnbets are rwuired to contr>ute an awthnt not exceeding £10. Recruitin•nt and appointment of Trte•S The <lire¢tors of the ccThpany are also chafity Trustees for ts wrposes of chanty la4¥ and under the company's A are known as rrnners of ts Leadershp Tewn. UeT the raqutrerrts of the MemraThJum and AdeS of As%atiOn the members of the Leadership Team are requwed to rth.re by rotatiM. J K Hayward and N M Hornby have so retired arKI have been unarmmousty releCted. Due lo the nature tsf the ch•iiy. muth of charit5 work locuses on your¥J people. The L8adarship Team gèÈks to ensure that th8 needs of ttM$ 9roup apprcwately ref18clwJ in rts pdicies. Young peop form a I8 part of tho Bam Theatre's manageftnt 8UPPOrt tsams h¥tty WNoFrfeAI people are dcety consulied regarding the d?sr of the Management Team. OryanS8ational •lructuv• The Theatre has a Leadership Team that 18 reSFsle for ltr stratsgic dtreclion aNI poky of ts cthanty. At th• dale of signing tha C¢)rnmitlee has t4en enhand ty 2 membws wrih othets undw cOnsKjeratn having due regard to improvg diversity as well a5 bringirwJ in additional lIaL$l expertKse and experiwce to tho w¥Je ¥arty of profess#)nal baeWur#ds alTraly on ts committee. A scheme of dele9ation is in plaGe day to day rEspcrfisbdty for th8 provision of the servw rest wth the CEOIArtistic Director and EXetiv0 Director supported by Prtslurlon. Technul. MarketirKJ and Financ8lAdrnini%lfalion stsff. T CEOIArtislic Director is resFOftsi fc ensurir#J that th8 chanty d8livefs the seThw 8peafied arKI that key Ferfomance indicators are mat i) line with good pra¢io and artstic excelrKe. He is also rgsFonslb for driving the imF4)rtanl new fundraK%ing initiative. Indu¢tlon and trining ol n•w Trustees Tnjstees arg already familiar wrth the praclical work of Ihe th¥bty. Athlilw4ty. Trusbes are invited arKI encotsraged to attend meetings to familiari5e themskn with thanty tr* context wiitun it operates. These are by th Chair of the Leadership Team and cover. The eblh3ations of Leadership re memberd. The main docuTh¢nts wtiith set out the owatxmial for the charity indLKlirKJ the Memorandurn Articles. Resourang and the curreth financial poOn 85 58t out in the latest plIShed accounts. Future plans and objectrves.
THE &4RN THEATRE PRO Trustees eaf ended 31 EÈGember 2024 for the Structure. govarnance and management Related parties The Trustees are satisfied that Iransaclions wrth related partS are on advantageous am-ngth terms and materially benefit the charity. Independenl Trusiees oversee any such arfangements. All transactions wrth related parties a disclosed in the notes to the accounts Risk management The Leadership Tearn has conducted a review of Ihe major risks to whh the Charity is exposed. A risk register is eslablisheé and will be updated al least annualty. IM)efe appropnale. sySS or procedures have been establishèd lo mitigate the risks the charty laces. Significant extemal risks to statutory tunding have led lo the devebpnt0f a strategic plan which will allow the LeadeTrhip Team to concentrate on deveSoping donations from Trusts ar)d Foundations. indivlduals and busiresses in addilic)n to other plan5 to diversify funding and aclivits. Intèrnal control risks are minimed by the impthentation of prOre$ for aulhorisalion of all transactsons and projects. Procedures are in place to ensu compliance with heatth and safety of staff. volunr5. dients vis"rtors lo the Iheatfe. Statement of Trustses. responsibilitie5 The Trustees (who are also the directors ol The Barn Theatre Projecl for the purposes of company lawl are responsible for preparing the Report of the Trustees and the financial statements in accordance wth applicable law and United Kingdom Accounting Standards {United Kingdown Generally ACpIed Accounting Practi) Company law require5 the Trustees to prepare financial slalements f each financial year which give a true and fair view of the slate of affair5 of the tharilable company and of the Incoming resources and application of resource5. Including the income and expenditure. of the chantsble corrtpany for that PQAod In preparing ihostr financial statenienib. Lhe Ttustees are required to select suitable accoLlnling policies and +hen apply Trhejn cons4Stently. observe the methods and principles In the Chanty SORP. make judgements and eslima'.es that are reasonable and prudent". prepare the financial statements on ihe going concern basis unless it Is inappropriate lo presÈJme that the chaiilable comr)any will continue in blis,s$ Thè Trustees are responsible lor keeping proper accounting iecords which disclose with reasonable accuracy al any b'me the financial position of the charitable company and to enable lhp_m to pnsur@ that finanoal statemants cornply with the Companies Act 2006. They are also responsible lor safeguarding ihe a55els of the clarilable company and hence fot taking reasonable steps lor the prevention and detectson of fiaud and otlEr Irregulalihes. In so far as the Trustees afe aware" there Is no relevant audit information of which the charitable company'5 a110r$ are unaware. and the Trustees have taken all steps Ihal they ought to have taken lo r[(e themselves aware of any levant audit inlonnalion and to eslabltsh that the auditors are aware ol thal informatK)n. Auditors The audilofs, Regulatory AudiL were appointed during the year army will be proposed for re-appointment al the forthcoming Annual General Meeting. Report ol the Trustees. incof directors, on ratsng 9 $118legic reFX)rt. aF4)roved by order of the ird of Trustees, &8 the company and signed on the board's behalf by.. rtin stee Page 6
rKJent Audrtors to th Opinlon We have audited the finarrial stateThnts of The Bam Thealre Propd Its 'charitabla covrhy,) for yoar er¥Jed 31 EÈcernt¢r 2024 whKh ¢rynpw the Statement of Finanaat Adivrties, the Balan Sheet. the Cash Fl(Mf Statement and notes to the financial stalennts, indudirvJ a SUMM of sniant accounlirwj policies. Tr finanaal reporting fram01 that has b8en applied in thr prePara1n is applicthbe Saw aThJ Unrted KI)M AoUnting Stsndards (United Kingdom Generally Accepted Ae£ountw Prackel. In our opinion Lhe fInana ststements.. grve a true and fair view ol slate of ts thariL3bkn affw'rs as at 31 D•c•mber 2024 cl 118 inrA)miNJ resources ar¥J application of resources. IvIjIrj ts ¢e and expenditure, for the period then ended., have been proFerty prered in &eordarKe wth United "n9th)rn Generally Acceptwj knnling Pradic'. and have been pfepared in accordance the reqU1MEnts of the Ccmpanies Acl 2C(6. Basi• for opinion We rLJnducted our audit in accordan with Intefnational StaNJards on AL41iting IUKI IISAS (UK)) arkl aFplicabk law. Our )nsibilitbe5 uThJer those staTrSard5 ore fvrther d8scribed in the Audtlors. respon$it¥ltti8s for the audit of the financial statements section of our reF¢Xt a independent of the charitth Mparty in accordance wrth ethul quir8mgnls that are relevant to our audit of financial Stalennts in th8 UK induding Ihe FRC'S Ethul Stsndard, and we have fvifilled our ¢)ther ethvl psibIlItieS in CordanCe wth fw requirements. betieve that the audit •VpdÈn we have obtairrtd is SLknt aFKI prowalE to prgvide a basls tor Ouf opinion. ConcIlon• rnlatlng to going conc•rn In aAiting the finanrAal stslements, we have conduded that Ihe Trustses. w of ts goirvj c¢)nc8rn basi8 of accouniirg in the preparation ofthe finanaal slalwn is approwiate. Basej on Ihe work wa have pwfonmd. ha not Traentified any materral uncertainties relating to vvents or conditbns that, individually or colwryefy, may sJnificant dbI on charitabje Company's abilty to Contin as a g(xng concorn a Per d at least twelwt months when th8 finaal slatwrnnls e aUlhl for w. Our r0sponsibilit and the f•¥X&"llbs ol th8 with IPort to going Conc are dtiscriw in ts t8knvant sections of thi5 reFQrt. Oth•1 Inforniatlo The Trusle8s are respons10 for the otrr inf0mti0Th Tr other irformakn urywises the infommlirm ÉrKlwJwJ in th• Annual Report other than the fina1 statWTwts CAtr Re1 crf the If¥Jep8rthnt A11th thwem. Our opinlon on the financial stslmnts does cr other inlomwtion and. except lo the èthnt otheThvis8 expktsy slated in our repo¢ we do not express form of assurance condusm thwoon. In connecbon with our aff( of the financaal Staterrts. our resFonsibility is to read the other infomiation and, tn doing so, con¥bJer whether the other infiymation is MalaIty inconsisni with the financial statements our knowbyge obtsinod in th• audit Cf Othe1) appears to be materially misstated. If we Njentsfy suth Matla1 4nconsistencs Qr apparent materFal rnisslalements. we are required lo delefftine whether this gives rtse to a material misslalement in the financial statements themsdw. If. based on the work we have prforrrnd. we condLth that there 1$ a material misstaterrenl this other infom)atlon. we are requiral to ropLYt facl have r#)thing to rewt in this regard. Oplnion8 ¢)n other mAttern prescribèd by th• Compani•8 Ad 2006 In r cpinion, basad on the work urthrtaken in the coursa of the a151.. the infomialion given in the Report of the Trustges for the fina181 year forwtic¢ the statwwts aro prepaf&J is cL)rtsistenl with the finatal stateffnts', arxl Report Dfthe Trustees has been prepared w) accordance wilh l[b[8 l•gal wuirenwts. Ilatl•rn on thlch wg are v•qulr•d lo r•pixt by •x¢•ption In the IEqhl of the knthethJe and undelanding ol the charitable c(ryny ar¥J ts envirfyy))ent in the CQLtrse of the aixliL we have not #Jentrfth maknial misstatements in the Repul the Tr. We have nothirvj to rwt in respect of thè k4kAvirKJ mattw¥ whwe tr Cryanies Act 2tth requires us to rer)rt to y¢ rf, rn our opinion.. Jequate accounting records hav• not kept or ralums &Jequate for our audit have not been reraved from branches not vKsited by us", or tha finanGl statements ar¢ not in a9reennt ¥rith acLTJurknJ rC8 aThl reiums: iy certain di5dosus of Trustees, remuneratK)n speofd Lry a not m., or VP have rnt received all the inl¢NmatK)n 8fKI exFAaroti¢)ns we Vire for our audL
Re rt of the Inde ndenl Auditors to the Members of The Bam Theatre Pr ecl Responsibilities of Trustees- administrator As explain8d more fully in the Slalernent of Trust5. Responsibilities. the Trustees (who are also the dire¢to¥s of the ¢harilable company for the purposes of company lawl are we5ponsib for ihe preparation of financial slalemenls and lor being sath'sfied that they give a true and fair V. and for such intemal control as the Trustees delemine is necessary to enable the preparation of financial staiements that are fe from rnatenal misstslewTEnt. ther due to fraud or error. In preparing the financial statements. the Trustees are SponSible for assessing the charitable company's abilily to continue as a going conrn, disdosing, as applicable. matters related lo going con¢ein and using the going concern basis of accountin9 unless the Tru=tecs either int¢nd to liquKlate the charitab CDmpany or io ase operaiions. or have no realistic alternative bul lo do so Our responsibilities for tho audlt of the financial ststements Our objectives a lo obtain reas0Trab asSUTanc£ aboutwhelherthe financial statements as a whole are fr from material misslalement. whether due to fraud or error, and lo tssue a Report of the Independent ALbJitors that Includes our opinion. Reasonable assurance Is a hh Ve1 of assurance. bul is not a guarantee that an audit conducied in aCrdan with ISAS IUKI will aayS detect a material misslalernenl when rt exists Misstalemenls e2n arise from fraud or error are considered material il, Individually or in the aggregate. they cotsld reasonabty tyg expected to inftuence the economic decisions of users taken on the basis ol these financk31 slalements_ The extent lo which our procedures are capable of detecting irregularities. incJudirNJ fraud is dètailed below.. the nature of the sector. control envirMent and the Company's perf0mlan". iesulls ol our enquiries of management and the board aul their own identification and as5es5menl of the risks of irregularilies-, any matters we entIr having Obtai and re¥Wed the Company's documentation of their policies arxl proc£dures relating lo". Idenlifying. eval¢Jatbn9 and comptying with laws and regulation5 and whelher they were aware of any instances of nM-compliance, detecting and responding lo the risks ol fraud and whether tY have knowledge of any actual, suspected or alleged fraud., the internal contrds estabStshed lo milgale rtsk5 of fraLyJ or non-compliance with laws and regulations., the matters discussed amonq the au¢Jit engagèment team reoardtng h(Av and whefe fraud might xcvr In the financial slalernents and any potential Indicators ol fraud. As a resulr ol these procedures we conslefed the opportunitie5 and incentives Iat p.ay eyisl ivtlhin the organiialion for fraud. which Included Irtcorrect rècognition ol revenue, managernent over¥ide ol controls using manual iournal entries, Pfoeuremenl and payroll. Vve identrified the greatest potential fol fraud as Incoriecl recognilioft of revenue and management override using manual journ31 entries. In common with all audits under ISAS IUKI. we are 3150 requwed lo perform Specif orocedures lo respond lo the risk ol anagement override We also obtained an ur.derslanding of the legal and iegulatory 113meworks th81 the Company operaTes in, focusing on provisions ol those laws and regulations that had a direct effect on the oleterminaiion of material drnounts disclosures In tne rinancial slalements. The key laws and regulations we Considered In this text includ UK Companies Act and lax legislation. In addition. we considered provisions ol other laws and regulations that do not have a éirect effect on the financial slalements bul cornplian with which m8y be fundamental to the Company's ability lo operate or 10 8void a maleri penalty These in¢luded data protection regulations. oceupatsonal health and safely regulalitins, building legislation and employment kgL8lalion. Our pr(xedures to respond lo Tisks KJentrfEd included tho folltrwing.. viewin9 the financial sla11 disclosures and tgsling TO SUPP)rnng docunntsb"on lo asse5$ coffpliance with provisions of relevant laws and regulattons descrkned a5 having a direct effect on finanual slalements". reviewing the finanrAal slalennt disdosures and testing lo supporting documentation to a5se5s the recoJnition of revenue.. enquiring of Dire¢tor5 and management conceming actual and potential litiyation and claims" performing analytical prOdreS to Klenlify any unusual or unexpected relathipS that may Indate iifjks of matersal mlsstatement due lo fraud.. and in addressing the risk of frawj through rnanagemenl overrAle of controls. lesling the appiopiiateness of journal entries and other adjustments., and assessing Wther the ILgeMents made in making accountin9 eStiMeS are indicative of a potential "as. We also communicated relevant Identified faws and regulations and wlential fraud risks to all engagement team n*mbers, an¢J remained art to 3ny indications of frawj or nOrOrn1¥nce with laws and gUlationS throughout t audrt. A further desciiption ol oui responsibilities for the aLKlil of the financial slalemenls is located on Ihe Finanaal Reporlir4J Council's websrte at wvM.frG org.ukjaudil0rsresponsibS1Ies. This desCripn fonTJS part of Ouf Report of the Independent Auditors. Pa98 8
of AJItorS to • of our report This report 15 made to the ch¥itale corrparfs Mb¥s. 85 a bLvty. in accordanc• with Chapt& 3 of Part 16 ofth8 Companies Act 20C6. Our audit wuk has been uTrJerten so that wa might stale to the charitable ccvnpany's members those matterswe are require(I to Stale trj them in an audit5, report and for no other purpose. To the fvllest extent m)rtled by law. we do not accept or assu iesponsibility to anyor other than the dwrilable company and the ntable C4)mpany's mwntm as a fv)r our 4Irt trf for Ihis report or for ts opiniors wè ha¥8 fo*d. FCCA ACA (Senior Statuty Audit) for and on behaK of Regulatory Audrt Chartered Acccwnlarts arKI Stabjtw Authtors Vicarage Court 160 Emiin Street sWd{ SN3 4NE
THE N THEATRE PROJECT Statement of Financw5 Activity6s 31 fknmber 2024 2024 2024 2024 2023 Unrestri¢tèd Rèstrict•d funds fvnds Total funds Total funds Notes In¢omo and èndowments from DL)nalions and legacies 211,641 273,355 484,996 608,330 Charitable aclivilies- prcKJuctions Invesbnent inccThe 1.449,696 3.765 1,449,696 3,765 1,139.806 Total 1.665.102 273,355 1.938.457 1,749,525 Exp9nditure on Fund raisin9 Costs 37,S10 37,510 83,614 haritable activitles Charitable activities overh8ads Charitable aGlivittes- produclions 135,719 1,489,311 271,676 407,39S 1.489.311 260,2 1,399,739 Total 1.662.540 271,676 1,934,216 1,144.255 NET INCOME 2.562 1.679 4.241 5.270 Reconciliation of funds Total funds brought forward 193,708 193.708 188.438 Total fund5 carried fopward 196,270 1,679 197,949 193.708 The notes tom part of these financial Strrnts P•38 10
E &4RN lan Sh 2024 2023 Fixed assets Tangible assets Investm 12 13 7,109 8,109 2,oa2 Curr•nt as••ts Oebtor¥ Cash at bart( and in hand 14 260.126 194.786 153.543 675.940 454,912 Creditora Amounts falling due within one y 15 1266.0721 1637,867) Net current •M•ts 191616 Tt)tal amets currnnt liabillti•• 197.949 193,708 NET ASSETSIIUABILrtlESI 197.949 193,708 Fund• Utrie fuiid5 RestrKted funds 16 196.270 193,708 Total fun( The finanrAal stat and were sig it5 beh approv1 by the Board ofTnJstees and authori6ed forissue ¢)n .llpxi. .. ....... ...... ...... I Carting - C Woodd . Tru6teo Tr notes fom) part of these finala1 ststanents P•J8 11
THE BARN T EATRE PROJECT C h Flow Statement r ended ember 2024 for the 2024 Notss 2023 Cash flows from operating activilies Cash oenerxted from operab.ons Inleiest paid 1475,3721 89 445.722 742 Nel cash provided byllused in) operating acb'vitie5 475,4611 444,980 Ca$h flows from invèsting a¢ti¥iti8s Purchase of tangible fixed assets Repayment of related party loans Inter1 received 9,458 118,9161 3,764 118.6001 1.389 Nel cash used in investing activibes 5.694} 17.2111 Change in cash and cash equivalents in the roporting period Cash and cash equivalents at the beglnntng of the reporting period 1481.154) 427.769 675.940 248.171 Cash and cash equivalents at the end of the reporting period 194,786 675.940 Th8 notes form part of these financia Statnents Page 12
RN PR R•conclllatlon of n•t incom• to n•t ca•h fl(Y• from oparnting activitios 2024 2023 N•t incom• for the rnporting p•rlod {as p•r th• Slat•m•rt of FThncial A£tivltie¥) Adjustments for. Depreualion charges Inlèrost receNed Interest pafv DeueasellinrJeasel in debtc {Decrease)rtnuease in credito 4241 S.270 3840 {3.764) 751 1.389} 742 139,4931 1106.583) Not c••h provid•d by1(d in) op•rnllon• 445,722 Anatysls of ¢hang•¥ In not fund• At 31112r23 Cash flow At 31112124 ca•h G8sh at bank and in haThY Toll 481.154 194.786 The notes fomi part ofthese finartial slatwnents Page 13
TH &qRN THEATRE PROJE Notes t the Financial Sta nl for the ear ended 31 tknmber 2024 Accounting policies Basis of preparing thè financial $tatements The finanoal slalements of the charitable company, which is a pubFic bènefit entity under FRS 102. have been prepared In accordan wilh the Charities SORP IFRS 1021 Accounting and Reporting by Charities" Statement of Recommanded Practice applicable to prepariii9 11)eii accounts in accordan with the Pinancial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191,. Financial Reporting Standard 102 The Financial Reports"ng Standard applicable in the UK and Republic of Ireland. and the CompanEs Act 2(X6 The financial statements have been prepared under the hislorKal cost convention, with the exception of investments which are included at mart(et value. Goin9 concern The Trustees continue to aJopt tho going concem assumption as the basts of preparab'on of charity's financial stalemenls. In doing so. the Trustèes confirm they believe Ihal no material uncertainb.es exist in the foreseeable tu regarding the charrtls ability to continue as a going concem. In addrtion. the charty has the support of Mr I CaThJ WIKJ has indicated hi5 intention to support the chafity in meetings its liabilities as they fall du8 for a peri(J of 12 months from the dale of approval of thès& financtral staiemenls. Preparatton of consolidated financial statomènts The financial statements contain information about The Barn Theat PrL¥ect as an individual charity and do not cnntsin corEolidated financial information as the parent of a group. The charity is exempt under Section 24.13A of tho Charities SORP IFRS 1021 from the requirèments to prepara ¢&)nsolidated financial statements as the subsidiary Is not material for the purwse of giving a true fair VEW Ineome All in¢oming resourS are inclLded in the Statement of Financial Activitie5 ISOFAI when the tharty is le9ally enlilled lo Ihe ncoiiiè 21, Ler any pertofmance conditn$ have ceen nEt. Ihe arr.ounl can be measured reliably and 1115 probable that the income wi11 be received. For donations to be rec(yJnised the ¢harrty WFII have been nOtifd of the amunts and the selllemÈnt date in wribng. If tnere are conditions atlached lo the donation and this requires a level of pertormance before enti+lèmen; "?n be ob'.ained =hen IiicoTre Is dererreo Jniil tiose conditson.s are fully met or the lullilmeDt of ihose conditions is wilhin the Control of the cha¥ily and it probable 1hai they will be fulfilled. Inccne from iraoing activities indudes Inco eamed fiom fundraisin9 events arKI trading actiwlvas lo r815e funds for the charity. Income Is weived in exchange for SUPPtying go(xJs and services in order to raise funds and is recognised when entitlennl has occurred Expenditure Liabilities are recognised a5 expenditure as soon as the a 81 or constructive obloation committing the charity lo that expenditure, It is probable that a transfer ol econom kenefits will ruIred in settlement and the amount of the obligation can be measured relk8bly. Expendrture is accoun tor on an accruals basis and has dassified under headings that agjregate all cost related to If category. Where costs cannot be directly attribulgJ to parb"cular headings they have been allocated to activibes on a basts consistent with the use of reSotJS.. Irrecoverable VAT is charged as an expense against the adivity for whith expw)diture arose. Allocation and apportionmont of costs Support costs are those that assist the woth ol the chanty but do not directly represent charitable activit$ and indude office costs, governance costs. administrative payroll costs They a incuired directly in SUPPDrt of expenditure on the objects of the charity and incjude proje¢l manageffEnt carrEd out at Headquarters. Where support costs cannot be directly attributed lo PartUlar heliThJs they have been allocated to Cost of raising funds and expendrture on charilabk aclivits oft a basis cortsistent use of ihe sOUrceS Premises costs and olher overheads have bean allocated as appropiiate.. Fund-raising Costs are Ihose incurred in seeking voluntary ntrIbulK$ and do not include the costs of dtsserninatirKJ informabon in support of charilable activities. The analysi8 of these costs is included the note5. Paje 14 continued...
EURN PR tslemen A¢cotsntlng p1¢1•% - continu•d Tangiblé fix•d ass•ts Depwalion L8 provthl at the lol(miry annud raies in order to write off eath asset its estimated useful lilo. FtUfftS and ffttings 20% on cost Cc¥nputer equipnw 33% orb Cost Fund ctounling Unroslrirthd fiJr¥J5 can be used in accordance with the charitable at the discretion of Iho T105. Restncted fvnds can onty tre used for partrJJlar restrided purposes within the Obits of charity. ReslrKtion$ aris¢ when spe0fd by the donor ty wn fur#Js #rn raiwj ft)r particular restrict8d purposes. Further explanation ofthe nare and purFxxe ofexh furKI 15 Ied in thB to ts finanrAd staterrnnts. Hlr• pui¢has• and ltrasing c¢)mmitmonts Rentais patrj ur•J&r OFerin9 be85es Ched to Ihe Siatwrt of Financial ActiMls on a stra3ht lirn ba818 over the FerTrcAY of the lease. Fixed as investments are a form of financ4al ItrUMertt af¥J are inilially rew3nised at their transaction cost and subsequently m8asured at fair Va at the Balan sw date. unless fair Val cannot be measured liablY in which case it is measured at cost le$5 impaimrrt. Inveslmert gair6 aThJ losses, whether rèaltsed or unrealtsed, Intort r•c•ivable Inte$1 on fvnds hehj on depc6it i inclth WI receIvab arKI the amount can b• relially ty tho corryrry., this i% nornalty LW Mtifi¢ation of thè interest paJ or payablg by the Bard(. P•n8ion• The CLryany raI¢S a defintra cLJnth'bulion Fension schem. The 855ets ofts sc1w aTr held separatety from Ihose of company in an independertty administered fvnd. The pension ¢ost charge reprnts contra)ution$ paYae by tr company to the fiJTrJ. cv emplcryees. personal schemes. as appr¢)priate. O•btrn and cr•ditorn r•c•1vablthlpab within one y•ar D8blors and editOrS with no ststed inleresl rate and re¥aA8 or payat4e wrthin one year are recorded al transaction wice Any losses arising fr£ Wnp•Ml are reo>3ni8•J in expeIltur?. Cash •t bnk •nd in hand Cash at bank and in haTrJ i1je5 cash ar*1 short tem) hwjhty IKiuhd invesknents with a SI1 matwty of three rnc or less from Ihe date of acquisifyon or opening thFM)5it or sinMl¥ account. Donatlons and lryaci 2024 t)onalw)ns Grants 459.3S6 588.177 20.153 484.996 Grants recepml, in ts abow. are as folows.. 2024 2023 Cthr grants 20,153 PaJ8 15
THE BARN THEATRE PR JECT Note5 to t for the Fin nc ear ended 31 iements - conbnued cember 2024 Donations and legaeies Icortinuedl Induded in donabons is a donalK¥n ol £nil12023 £30.OCIJI frtyn Ihe Foyle Foundalion to assist in the day lo day nning of the Ba.'n Theat. InclLJded in donations are reslncted donations tolalling £13.35512023 £9.4621 in respect of 'Play il Forward, inrlkne. Theatrè Tax Relief IThRI has been assIfIed from donatnS lo charitable ath"vits"es. including the prior year comparative. Charitabl8 aetivitios - productions 2024 2023 Ticket Sales Enhancetllent Income Dislribulion5 r1Ve from Co-Pr(Klucb"ons Advertising Income Theatre Tax Relief IThRI 976.S45 59,867 141.778 7,284 264.222 1,085.619 12,943 41,244 1,449.696 1.139.806 Theatre Tax Relief ITTRJ has been laSsIfIed from donalK)ns to charilable aCb"vits. induding the prior yeor comparative. Investmènt income 2024 2023 Oeposrt account interest 3.765 1,389 Fund raising costs Raising donations and tegacios 2024 2023 Fund raising costs 37.510 83,614 Charitable activitiès Costs Support costs (see note 71 Direct Costs Totsls Charitable activibes - ovefheads Charitable activities- productions 395,921 1.489.311 11.474 407,39S 1489.311 1.885.232 11,474 1.896.706 Page 16 onlinued...
E&4R TH TR te5tot for Fi ear eftdl Supportcosts Govwnance Flfianca Tots 74 11A74 SuFPOrt costs. indu¢tsd in tr atthie. as folkn. Flnanc• 2024 Charilable ctiviti•s overheads 2023 Charitab activiti overheadj Bar th8pJes Ba interest 3,385 89 1.880 742 Gov•rnaftc• ¢ts 2024 2023 Charitsble Chartlable a¢tivities a¢tivities . o¥•rtad8 4bv•rth••d• Auditors RemuratiQn 750 Not ineom•l{•xp•ndlturnl Net ir1(8xp8ndllle> is stated aftsr chani@(credilirwJ): 2024 2023 Aurfilor5 Remuneration 8.000 8.750 751 Hire of ant aThJ machinery P•J817 onlinLd...
THE BARN TH TRE PRO CT Noies to the Fi I Statements- continued for the ear ended 31 December 2024 Trustees, remuneration and benefrts There were no Twstees. remuneraiion or oU*r benefits for the year ended 31 December 2024 nor for the year ended 31 Oecember 2023. Trustegs. expens There wer¢ no Trustees. expenses pawJ for the yeaf ende(1 31 December2024 nor for the yeac ended 31 Dember 2023 10. Stsff costs Staff costs weie as fo51ow5'. 2024 2023 Wa9ès and salaries Social security costs Other pènsion Costs 480.443 42,229 370.498 30,865 6.831 529,518 408.194 The average monthly number of empbyees during the perw)d was as foll¢)ws". 2024 20 Theatre basod 2023 15 No employees recèived errjolumenls In excess of £60.000. Comparativos for the ststèment of financial acts"¥ib"e5 unstrICted funds Income and endoNwTnents from nonalions and 109acS 608.330 Charitable activities- production5 1,139.8C Investment income 1.389 Total 1,749,525 Expenditure on Fund r31s1ng costs 83.614 Charitable activities Charitable activities- overheads Charitsble activities - prcKluclions 260.902 1.399.739 Totsl NET INCOME 5,270 Reconciliation of funds Total funds brclughl foThward 188,438 Total funds caryied fOard 193.708 Page 18 continued...
TrEP Ihe Fin "n 12. Tanglble fixed asMIs Fixiur•s and fftiings Computer aquipm•nt Tota At 1 January 2024 Additions 9,913 10J77 At 31 D8cener 2024 19 20.43S Depreciation Al 1 January 2tr24 Chaige for ygar 9,149 3.228 9,885 213 At 31 DeceMr 2023 376 13.326 N•t book ¥alu• At 31 December 2024 At 31 Ccen)er 2023 328 764 13. Shar•s In group undertaklngB M•rk•t valu• At 31 EcembeT 2024 and 31 Ccwrthr 2023 N•t book Valu At 31 Oecember 2024 At 31 Oeeemb•r 2023 Thar• V•re no investrrnnl assets outshle the UK Th8 CLJnpany's inNtslJrnnts at lh8 balance stet date in the sharn wital of conyankJ indud8 foll¢xirs.' Bam Th•atr• Ent•rpriM• LiM¢tl RegiSted office: Tanners Soliators Lancaster House. Thtynas Strert Qfer, GloueAstershire. Englarny. BS14AG Naiure of bune5S'. FJUPPOrt acvFt*s to porftyrnwy arts Clus ol #harn.. Ordinary holdv 2024 2023 Aregate capital arKJ reserves (Lossllprofrt for year (9.579) (1.937} 17.642) 11,183) Pag8 19 rA)ntinued...
THE 8ARN T TRE PROJECT i)cial Statements - con for the ear ended 31 cem r 2024 14. Debtors.. amounts falling duè wrthin onè year 2024 2023 Trade deb1015 Other debtors Accrued Income Prepayments 43,457 93,481 6,379 123,446 119,680 23.718 260,126 153,543 15. Creditors: amounts falling due within one year 2024 2023 Trade creditors Social security and other iaxes VAT Ottter creditor5 Accruals and defeffed inccme 90.589 8,496 1,406 17,800 146,781 148.881 99.456 9.071 265.072 637.B67 Deferred income Reloa$ed to incomlng resources Asat1 January 2024 Deford in Asat31 the year December 2024 Tickei sales 350.621 1350.6211 119.032 119.032 Total 350.6211 129 1?6 129.126 Al the balance sheat dale the chanty was ho5ding fund5 reiVed in advan fgr shows dLt8 lo be deliveied after the year end and fof which entitment the iorr* 15 not received until the seThice is delivered. Movement in fvnds 16. Balanc8 blf Incoming resources Resource8 expended Balance Transfers Unrn$triGt¢d General fuTrJ 193,708 1,665.102 11.662,5401 196.270 Restricted funds Fairford Play rt Forward 260.000 13.355 1260.0001 11,6761 1.680 193,708 1.938.457 1.934,216 193,708 Fairford inctjrne is a restncted InatiOn for the cperaliThJ costs of the charity. Play it Fonvard income is restricted donations received and exwded to make qualty theatre accessible to everyone. regardless of income, health. or age. Page 20
THE aARN TH lin for ear 31 17. Rglalod party dlsclosurns ring FWiC#J Sa of £1.673 {2023 - £nil} wwe to Inglesmlg Her(tage Limited. a company in which a Tn4St80 of The 8am ThtTe PrqeL# a dire(crf Trre was £255.11 (Krtstsnding al the perlod end12023 Ènil). During thè Keri5 saS of £10.319 (2Q3. £7.315) were m18 to Bam Thee Entwprises MIted, a compary in whth a frustge of Th? Barn Theaire Project a thrector. At Ir Feriod end a balance of £nil 12023 £1,209) remained ¢JutstaTrJiw There is also a working taprtal ban bakn¢e of £21.4E6 12023 Q1,466 in rew of transactK>n beh¥een the trading sut6NJiary ar its parent Duftng the sales of£nil12023. £42.2911 were made to Asslated Ttr8S L¥nrted, a ts)rrpany in whTth a Trustee ofThe Bam TItre Piciect is a director. At the penoj end a batancg of £nil12023- £1.CK]O.(KJl remained outstsnding During the period purchases of £184.66212023- £254.689) were made from InglesJe Heritage Limited. a company in which a Tnjstee of The Bam Ttre Proiecl is a director. At the peri a balan¢8 of £4.78812023. £4,576) remained outstanding. Thex wrrkn ace (or Theat HI £108.417 12023 - £143, 1191. thè costs of uts"lJb"8s used in operatiw the theatre £18.98012023- £65.9851. management tharggs£28.7631£2023 £nill arKI fo(J, drink and accommtrdation SUppld to the Theatre £27,742 {2023- £45.585}. During the purchases of £12.Im {2023. £3.CLKII were made from F¢)sseay Properti6s Ltd, a cwpany in whrch a Tws18e of The Bam Theatre Prqe¢t is a dir. Atth• peritsj •rKI a balanc of £ nil (2023 £nill r•mairJed outstsnding. During the Feric•Y purchases of £78,890 (2023- £84.2601 were made from Techsmart Theatre SeTh+1$ Limit8d company in whith a TNstge ofThe Bam Tratre Proieci ¥ direclor. The was a balance of £1,61012023- £nil} outslaThJing at yèar wd. Th• [Chase$ werè for lechnical 8upF to tr£ Theatre. trIng the peri1 donations were received of £58.25012023. £89.841} from Techsm&t Theatrè Se18 knmited. Lring the period purchase5 of £40.71912023 - £34.984) made trom Oldfield PAtsines5 SeThices Limited, company in which a Tru$tse of The Bam TIre Prryed 15 a dirxtcrf. There was a balar wtstar*Jirg at t year end of £591 12023- £22.384). Dtsrrng peiicxl, Trustse lan Carling prodj a donat of £2eO.(KM) (2023 £3).(). At tho perioj a balance of £ nil12023 £niJ) remained OLtalI1¥J. Page 21