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2024-06-30-accounts

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

Charity no. 1177812

The Wardrobe Theatre Report and Unaudited Financial Statements

30 June 2024

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Reference and administrative details

For the year ended 30 June 2024

Charity number 1177812 Registered office and 25 West Street operational address St. Philips Bristol BS2 0DF

Trustees

The trustees who served during the year and up to the date of this report were as follows:

Naomi Miller Chair Daniel Watson Treasurer. Appointed 12 March 2024 Kerry Francis Joe Hill Lynette Wilson Appointed 1 March 2024 Caitlin Anniss Appointed 1 March 2024 Susanna Amato Appointed 1 March 2024 Andrea Keogh Appointed 1 March 2024 Lydia Scott Appointed 1 March 2024 Aisha Stewart Appointed 1 October 2024 Natasha Bergg Appointed 1 October 2024 Independent examiners Hewitt Accountancy Ltd Chartered Accountants 40 Harcourt Road Redland Bristol BS6 7RE

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Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

The trustees present their report and financial statements for the year ended 30 June 2024.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Governing document

The Wardrobe Theatre is a charitable incorporated organisation (charity number 1177812), registered with the Charity Commission on 4 April 2018. The charity's governing document is its constitution, dated 9 August 2022. The constitution will be updated as part of a Governance audit in 2024-25.

Purpose and activities

The Wardrobe Theatre is driven by a bold mission to advance the arts and inspire a deeper public appreciation and understanding of all art forms. Through the operation, facilitation, and management of The Wardrobe Theatre, we are dedicated to enriching the community by offering diverse and dynamic artistic experiences. While our impact extends far beyond, we are especially proud to serve the City of Bristol and its surrounding areas, bringing culture, creativity and education to the public for the benefit of all.

The 4 core aims of The Wardrobe Theatre as laid out by the board of trustees this year are:

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives for the year.

Achievements and performance

2023-2024 was a strong year for The Wardrobe Theatre with a high-quality artistic programme and high audience figures as we cemented our place as Bristol’s leading fringe theatre.

In-line with our core aims, in 2023-2024 we built on our work with grassroots artists by working with 119 visiting companies and giving performing opportunities to new, young, emerging artists such as Weston-Super-Mare’s Mia Borthwick (and her show I Don’t Have A Maths GCSE), hosting 41 scratch/amateur performance cabaret nights and poetry/storytelling slams and relaunching our workin-progress showcase night, ITCH. We kept our theatre tickets below the national average (£12.10) and saw an increase of 56% in new audiences. We welcomed 7,371 family audience members and hosted over 100 hours of theatre for families. We supported local artists by ensuring the majority of theatre companies we presented on our stage were Bristol-based (62%) and by recruiting a 95% Bristol-based team for our in-house Christmas show, including disabled artist Stephanie Kempson as director, and young, emerging artists trying to forge a career in the arts such as associate director Harry Gould, performer Fowzia Madar, choreographer Bryn Thomas, stage manager Gemma Smith

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

and costume assistant Ruby Brown - an example of our Artist Hub aim in action. The trust placed in these young creatives was repaid tenfold with the enthusiasm, passion and energy they brought to the project.

Behind the scenes we also developed significantly this year by:

These were all large and strategically important projects, achieved after many months of hard work from the entire team and reflect the increasing professionalisation and maturity of The Wardrobe Theatre as an arts organisation.

Thanks to funding from Bristol City Council, YTKO and the West of England Combined Authority, this year The Wardrobe Theatre was also able to invest in a high-quality projector and projector screen , improving the quality and range of events held in our space including new movie nights.

This year The Wardrobe Theatre was a “Highly Commended” Finalist in the category of Best Arts Organisation at the Bristol Life Awards 2024.

Artistic Programme

This financial year a total of 33,257 audience members came to see a live show at The Wardrobe Theatre (up 9% on 2022-2023).

Across the year, within the venue we presented a total of 444 live performances and hosted 119 visiting companies , a mix of Bristol-based and UK artists. Particular highlights this year included: ▪ Healing King Herod (October 2023) – It was wonderful to present a completely sold out week of emerging artist Riss Obolensky’s brilliant solo drag-king comedy, a character that Riss first created on our stage during the experimental comedy night, The Lost Cabaret .

▪ Ha Ha Ha Ha Ha Ha Ha (January 2024) – This astonishing solo show by Estonian clown, Julia Masli, was widely regarded as one of the standout hits of Edinburgh Fringe 2023 and it was fantastic to host her for a weekend before she went on a wide international tour. There is no script and instead Julia creates incredible moments of wonder, beauty and laughter entirely in collaboration with and in response to the live audience.

▪ The Paper Cinema (February 2024) – It was great to welcome back The Paper Cinema for a sold out week of their stunning and unique live animation and puppetry with live musical accompaniment.

▪ Queer Planet (March 2024) – Proud of our location in the heart of Bristol’s LGBTQ+ quarter, we

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

always love showcasing new and exciting queer performances such as this David Attenborough parody drag-king show by Bi-Curious George featuring gay penguins, intersex snails and transgender fish.

▪ Princess Smartypants (April 2024) – Family work continues to be a cornerstone of our programme and we were thrilled to host this new children’s theatre show by Bristol’s The Wardrobe Ensemble, a sparkling new adaptation of Babette Cole’s classic children’s book series.

▪ Polly: The Heartbreak Opera (April 2024) - A riotous, radical adaptation of John Gay’s banned sequel to The Beggar’s Opera presented by Marie Hamilton and our long-term collaborators Sharp Teeth Theatre, featuring techno, tracksuits and palm trees.

▪ Harry Baker: Wonderful (May 2024) – It was exciting to welcome back this former world poetry slam champion for a sold out week of charming, warm and linguistically thrilling spoken word and poetry. ▪ Dragons & Magic (May 2024) – This memorable event, presented in collaboration with local bookshop Storysmith, was an evening in conversation with Cressida Cowell, author of the How To Train Your Dragon series, in which she shared stories of her childhood and inspirations and chatted at length with many of the extremely excited children present.

The festivals we were proud to be a part of this year included Bristol Pride, Circus City, Lyra Festival and Bristol Old Vic Theatre School’s Summer Festival. Partnership work is important because we believe collaboration, connectedness and shared resources are vital for the future of the UK arts and culture sector.

Work shown at the venue chiefly included theatre (devised work, storytelling, improvisation and new writing), secondary to that stand-up comedy, then poetry/spoken word. Family audiences remained a core pillar of The Wardrobe Theatre’s work and we presented family shows during school holidays and on weekends. This year we presented a total of 101 family performances to a total audience of 7,371 (up 24% on 2022-2023).

The mean average ticket price at The Wardrobe Theatre this year was £12.10 (up 3.6% on 20222023). Financial accessibility remains a core ethos of the way we work and affordable ticket prices have helped us achieve good audience attendance throughout the year and helped us have great success in continuing to attract a young-adult audience.

In-House and Co-Productions

During this year, 1 new Wardrobe Theatre production was created and staged: ▪ The Good, The Bad & The Coyote Ugly - a bold, feminist, genre-hopping, all female, Western comedy/musical, the show was created over 6 weeks with a 95% Bristol-based creative team and directed by Bristol-based disabled-artist, Stephanie Kempson. The show was our fastest selling Christmas show ever, selling out all 48 performances at The Wardrobe Theatre between November 2023 and January 2023 before a 2 week run at Front Room Theatre in Weston-Super Mare where all tickets were Pay What You Decide. Supported by Arts Council England, this was the first time we’ve been able to take one of our shows on tour since the covid-19 pandemic. Reviews included: "The campest, naughtiest show in town, a work that embraces the spirit of the fringe and the alternative comedy scene and produces a rollicking festive night" (Kris Hallett), "A breathless two hours made fabulously raucous by four actors milking every absurd moment" (StageTalk Magazine).

And 1 existing Wardrobe Theatre was revived and staged in the theatre: ▪ MDH: Puppets Do A Movie – After a very successful Christmas 2022 run, we restaged our comedymusical, puppet-parody of the 1988 action film, Die Hard , for a further 5 weeks in July and August 2023 with strong audiences. It was a risk to restage this show so soon after its previous run in November 2022-January 2023 but ticket sales achieved our targets and it encourages us to embed this Christmas-Summer double run of in-house productions moving forward.

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

A Hub for Artists

Artist development and supporting Bristol-based, emerging theatre-makers continued to be a priority for The Wardrobe Theatre this year.

After a hiatus of several years (due to staffing capacity and the covid-19 pandemic), in March 2024 we brought back our work-in-progress showcase night, ITCH , for local artists to try out and show something brand new. The show was a success and provided support for a diverse mix of artists including Alice Human, Bella Finlayson, Rhiannon Bird-Lewis, Daisy Williams, Random Acts of Theatre, Up The Antics and students from the Bristol School of Acting.

We worked with artists, theatre companies and organisations to offer artist development workshops and talks throughout this year, including Clare Parry aka Boorish Trumpson, Bristol Old Vic, Henry Madd (writer of Land Of Lost Content ), Scarlet Oak Theatre and improv masterclasses by Closer Each Day Company. We also presented several workshops ourselves including: free comedy/theatre devising workshops at Front Room (Weston-Super-Mare) as part of our development of in-house production, The Good, The Bad & The Coyote Ugly ; a talk on the history of The Wardrobe Theatre with students from Bristol School of Acting; and a half-day session on what it means to be an Artistic Director of a theatre with the final year directing students from Bristol Old Vic Theatre School.

Helping to build a stronger theatre sector, we remained in regular communication with other theatres, festivals, venues and arts organisations in the region including our Artistic Director having one-to-one meetings with the new incoming Artistic Directors of both Bristol Old Vic and Tobacco Factory Theatres, whilst continuing our mentoring of Weston-Super-Mare’s new fringe theatre, Front Room. The Wardrobe Theatre also continued to be a member of the city-wide arts organisation forum, DIY Network, and took part in a Bristol venue and organisation wide conversation specifically about our collective artist development offers in September 2023.

The Wardrobe Theatre and our staff continued to be on hand to offer extensive in-kind support, advice, guidance and mentoring to many artists, companies and theatre-makers, and during the year we also offered free or affordable rehearsal and workshop space to theatre companies in Bristol including: Douglas Walker, Tom Marshman, Kiota, Closer Each Day Company, Yet To Be, Up The Antics, The Wardrobe Ensemble, Beyond Face, Last Day On Earth, James Newton & Tom Brennan, The Paper Cinema, Roustabout Theatre, The Ponds, Impromptu Shakespeare, Bristol Old Vic Theatre School and Shon DaleJones. Support for these artists led to several productions being developed into full shows which have subsequently been programmed here to be performed in-front of a live audience in 2024-25.

Participation and audience development

Participation

Our participation programme remains a key element of The Wardrobe Theatre’s work. This year, with grant support from The Arts Society, we built stronger partnerships with local primary schools such as Hannah More Primary and Briarwood and hosted 5 free private performances for school groups (aged 5- 8) with tours of the theatre and talks from our Artistic Director. 95% of the children in attendance said it was their first time watching a live theatre show. With decreasing levels of drama and performing arts education in schools, it is imperative that charities such as ours continue to provide opportunities for arts education and engagement. We will continue and widen our offer of free performances for local primary schools in 2024-25, something we are able to do with funding already secured from Bristol City Council.

Audience development

New parents with young babies was an audience we continued to develop and improve this year, an area we identified we were lacking in and at a time when some of our staff were themselves starting young families. This year we hosted more relaxed, babe-in-arms performances in the theatre including a monthly stand-up comedy show called Aftermirth and baby-friendly performances during our summer run of MDH: Puppets Do A Movie and our Christmas production, The Good, The Bad & The Coyote Ugly . Audience response to these babe-in-arms performances was extremely positive, with many remarking they are a much-needed community service.

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

Encouraging audiences back to the theatre after the covid-19 pandemic continues to be an area of development for The Wardrobe Theatre, ensuring they feel safe and welcome.

Diversity and inclusion

Broadening the diversity of the people we work with, our audience, our participants, our visitors and the stories that are told on our stage continues to be a key goal of The Wardrobe Theatre. We continued to develop and implement the learnings and outcomes of our inclusivity action plan and widen our knowledge and understanding about the types of barriers communities can face in accessing culture. It is our ambition to have a deeper understanding of who our audience is and how we can proactively reach and respond to the needs of those audiences underserved in our city and representative of our local community.

On our 2023-24 in-house Christmas production, The Good, The Bad & The Coyote Ugly , we worked with Bristol-based theatre-maker Stephanie Kempson - the first time we’ve been able to work with a director with a disability. Stephanie suffers from Myalgic Encephalomyelitis/Chronic Fatigue Syndrome (ME/CFS) and required a support worker during rehearsals, something made possible by a grant from Arts Council England. It was brilliant working with Stephanie on this project and our learning during the process has made it easier for us to collaborate with more disabled artists in the future, something we have targeted for 2024-25.

Located as we are in Old Market, the heart of Bristol’s LGBTQ+ quarter, this year we continued our work to engage, welcome, collaborate with and actively support the LGBTQ+ community. We worked with local LGBTQ+ organisations and businesses such as Old Castle Green, were a key venue partner during Bristol Pride and worked to increase the numbers of LGBTQ+ stories being told on our stage, with LGBTQ+ productions hosted this year including:

We further worked to increase the diversity of the productions and performers on our stage this year with stories from the global majority such as Eating Myself by Peruvian performer Pepa Duarte and quarterly global majority performance showcase night, Kiota, and working-class stories such as The Geneva Convention of Human F**ks by Yet To Be and Luke Wright’s Silver Jubilee .

We continue to work to develop and diversify our programming to ensure a wide diversity of stories and artists are featured on our stage, targeting a 20% increase in this representation during 2024-25.

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

Development and marketing

Funding grants

This financial year, 3 grants were successfully awarded to The Wardrobe Theatre, forming 10% of our total income. This is a 7% increase on the 3% from 2022-2023.

This financial year we also applied to but were unsuccessful in securing grants from Garrett Creative, Fidelio Charitable Trust, Wingate Foundation, PRS Foundation and Fat Beehive Foundation. Success in grant funding continues to be ever more competitive and ever harder due to shrinking arts budgets at both a local and national level. This year we have applied to a wider range of grants from trusts and foundations and other smaller bodies than ever before, something we will continue to pursue in the future to protect ourselves from an over-reliance on a narrow range of grant givers including Arts Council England.

Fundraising

This financial year, public donations to The Wardrobe Theatre totalled £3,393, 1% of the theatre’s total income.

At the end of this financial year, we had 71 members in The Wardrobe Theatre Fan Club (our membership scheme) each donating £30/year, and generating a total of £3,944 for the year. As part of our adoption of Spektrix, during this year we conducted a consultation and review of the Fan Club and will be increasing the costs of membership by £10/year from July 2024.

Through our scheme with our building partners, The Old Market Assembly, whereby The Wardrobe Theatre gets £1 from every purchase of one of the pizzas on their menu and 50p per pint from one of the pumps on their bar, this year raised £1,888 for the theatre.

The Wardrobe Theatre has implemented a new Customer Relationship Management (CRM) system, Spektrix, which has enabled the theatre to gain deeper insights into its audiences and enhance its fundraising efforts. Following the implementation of Spektrix, 95% of the total individual donations for the year were received in the final three months of the financial year. Looking ahead, the theatre aims to leverage Spektrix to expand its membership scheme and utilise audience data to strategically target fundraising requests

Marketing

The Wardrobe Theatre maintained strong marketing practices this financial year, supported by a solid foundation of social media followers:

We continued to print a what’s on brochure every season (3 per year).

The adopting of our own Spektrix account dramatically improved our ability to communicate directly with our audience and send more targeted mailouts. As we build our audience data our ability to market shows will get better and better in years to come.

We renewed our Silver Membership of Destination Bristol/Visit Bristol, the city’s tourism and destination management organisation.

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

Staffing, structure, governance and management

Staffing

Staff development played a big part in The Wardrobe Theatre’s year as we recruited 3 new team members, including two brand new roles for the charity:

These new staff members have been excellent additions to our existing team, 3 of which have worked at the charity for over 10 years:

As the staffing team was increased this year, staff training with HR consultant Fiona Dorman was conducted in March 2024 focusing on team communication, responsibility and working styles. The staff team were also trained regarding the Sustainable Theatre Green Book by Alice Massey in March 2024. Permanent office space was also found nearby at Document Studios for the staff team which we began renting in June 2024.

Annual staff check-ins were conducted in late spring with every staff member having a one-to-one with a member of the Board. The sessions were deemed valuable by trustees and staff alike.

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

Governance

The Wardrobe Theatre’s board of trustees met quarterly this year, offering invaluable insight and support in furthering the theatre’s ambitions and embedding an improved professionalisation and organisational development. We have a strong and hands-on board who engage regularly with live productions as well as the engagement and artist development work that the theatre hosts and produces. We’re so grateful they give their time and expertise in the pursuit of something they really believe in.

There was significant development of The Wardrobe Theatre’s board this year with a high turnover of trustees as 5 trustees retired during the year. Formal thanks were given to Ali Robertson who was a Founder Trustee of The Wardrobe Theatre and for being involved and supportive of the organisation from the very beginning; Miriam Gosling-Gage especially for their additional coaching and support given to the staff and for the facilitation of board away days, and to Chris Askew for his expert insights over many years and work on corporate sponsorship.

During autumn 2023 the charity entered into a significant and active period of trustee recruitment. It was important that this recruitment was inclusive and accessible, that it furthered the diversity of thought and lived experience of board members and that it brought in necessary skills and perspectives. After this period of recruitment and development, eight new trustees were offered positions on the Board with five joining this year and a further three offered to become trustees in 20242025. It was felt important to stagger the arrival of some of the new trustees to create a pipeline of trustees and to ensure they don’t all retire at the same time in the future. New trustee skills include HR, health & safety, governance and compliance, with two people from the global majority and an overwhelming interest and love for the work the theatre does. We also recruited a new treasurer in March 2024. A day of new trustee training took place in April 2024.

Pippa Warin stepped down as a co-chair this year. Her former co-Chair, Naomi Miller, was appointed sole chair. Universal thanks were formally recorded for Pippa’s time and experience she has brought as chair.

This year several committees were also created and will start meetings in 2024/2025:

Further, two working groups were created:

At the end of the financial year, The Wardrobe Theatre's board of trustees was made up of: Susanna Amato, Caitlin Anniss, Kerry Francis, Joe Hill, Andrea Keogh, Naomi Miller (Chair), Lydia Scott, Pippa Warin, Dan Watson (Treasurer), Lynette Wilson.

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

Management

The Wardrobe Theatre Company is a Charitable Incorporated Organisation (CIO). The objects of the CIO are:

The advancement of the arts and the education of the public in the appreciation and understanding of performing arts in all their forms, through the operation, facilitation and management of The Wardrobe Theatre for the public benefit, taking place in particular but not exclusively in, the city of Bristol and surrounding areas. The full powers of the CIO are listed in our constitution.

A copy of The Wardrobe Theatre’s Governing Document (Constitution, 9 August 2022) is available on request.

Financial review

For the year ended 30 June 2024, income was £386,458 (2023: £330,489 and 2022: £325,571) and expenditure was £435,425 (2023: £353,764 and 2022: £333,667), resulting in a deficit for the year of £48,877 (2023: deficit of £23,275 and 2022: deficit of £8,096). Total funds at 30 June 2024 were £81,733 (2023: £84,051 and 2022: £141,500). There were £4,419 restricted funds at the year end.

Total income from ticket sales in 2023/24 was £309,920 which represents 80% of the charity’s income.

This year there was an HMRC investigation into our Theatre Tax Relief claim and after a review, our claim was reduced but no fine was issued. For this year’s Theatre Tax Relief claim and future claims we worked with TTR experts Creative Tax Reliefs to ensure all claims are accurate and correct moving forward.

The charity aims to hold sufficient reserves to cover three months’ normal operating costs. Based on previous financial years and forecasts for 2024/2025, the trustees estimate this to be £53,000. At 30 June 2024, unrestricted reserves stood at £77,314 which is ahead of this target. The charity had deemed it necessary to hold reserves in excess of its target during the covid-19 pandemic and will look to invest these in productions and projects in future periods.

The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons:

Statement of responsibilities of the trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

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The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2024

The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent examiners

Hewitt Accountancy Ltd were appointed as independent examiners to the charity during the year, replacing Godfrey Wilson Limited.

Approved by the trustees on 29 April 2025 and signed on their behalf by

Naomi Miller - Chair

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Independent examiner's report

To the trustees of

The Wardrobe Theatre

I report to the trustees on my examination of the accounts of The Wardrobe Theatre (the CIO) for the year ended 30 June 2024, which are set out on pages 11 to 23.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

Since the CIO’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Date: 29 April 2025

Peter E K Hewitt ACA Member of the ICAEW For and on behalf of:

Hewitt Accountancy Ltd Chartered Accountants 40 Harcourt Road Redland Bristol BS6 7RE

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The Wardrobe Theatre

Statement of financial activities

For the year ended 30 June 2024

Income from:
Note
Donations
3
Charitable activities
4
Other trading activities
5
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
7
Net income / (expenditure) and net
movement in funds
8
Reconciliation of funds:
Total funds brought forward
Total funds carried forward		 Restricted Unrestricted

£
£
43,585
8,855
-
318,943
-
15,165
43,585
342,963
-
22,896
47,086
365,443
47,086
388,339
(3,501)
(45,376)
7,920
122,690
4,419
77,314		 2024
Total
2023
Total
£
£
52,440
23,702
318,943
291,782
15,165
16,908
386,548
332,392
22,896
17,068
412,529
326,214
435,425
343,282
(48,877)
(10,890)
130,610
141,500
81,733
130,610

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 15 to the accounts.

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Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Balance sheet

As at 30 June 2024 2023
£
-
61,021
84,173
145,194
14,584
130,610
130,610
7,920
122,690
130,610
Note
Fixed assets
Tangible assets
11
Current assets
Debtors
12
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
13
Net current assets
Net assets
14
Funds
15
Restricted funds
Unrestricted funds
General funds
Total charity funds		 £
32,585
91,138
123,723
41,990		 2023
£
-
81,733
81,733
43,585
38,148
**81,733 **

Approved by the trustees on XX April 2025 and signed on their behalf by

Naomi Miller - Chair

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The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Wardrobe Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Income received in advance of the provision of theatrical performances is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

15

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

1. Accounting policies (continued)

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the basis of the direct costs incurred, as follows:

2024 2023
Raising funds 5% 5%
Charitable activities 95% 95%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Fixtures, fittings and equipment: 3 years

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

k) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than those already recognised in the SOFA.

n) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

16

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

1. Accounting policies (continued)

n) Accounting estimates and key judgements (continued)

The estimates and underlying assumptions are reviewed on an ongoing 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 the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Depreciation

As described in note 1(h) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.

Theatre Tax Relief

The charity has estimated the credit receivable under Theatre Tax Relief based on its eligible production expenditure incurred during current and prior periods. The amount receivable as at 30 June 2024 is estimated at £28,624 and included within accrued income. As this amount is subject to review and approval by HMRC, actual results may differ. Any changes to the expected amount receivable during the year are adjusted through income from charitable activities.

2. Prior period comparatives: statement of financial activities

Income from:
Donations
Charitable activities
Other trading activities
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure and movement in funds		 Restricted
£
Unrestricted
£
9,372
14,330
-
291,782
-
6,908
9,372
323,020
-
17,068
1,452
324,762
1,452
341,830
7,920
(18,096)		 2023
Total
£
87,471
231,504
6,596

332,392

17,068
326,241

333,667

(10,890)

17

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

3. Income from donations

Grants:
Arts Council England
YTKO
Bristol City Council
Donations
Pizza and beer donations
Fan club subscriptions
Total income from donations
Prior period comparative
Grants:
West of England Combined Authority
Theatres Trust
The Arts Society
Donations
Pizza and beer donations
Fan club subscriptions
Total income from donations
4.
Income from charitable activities
Ticket sales
Theatre tax relief
Total income from charitable activities		 Restricted
£
Unrestricted
£
31,598
-
7,568
-
4,419
-
-
2,909
-
1,783
-
4,163
43,585
8,855
Restricted Unrestricted
£
£
1,452
-
4,920
-
3,000
-
-
7,804
-
2,260
-
4,266
9,372
14,330
2024
Restricted
£
Unrestricted
£
Total
£
-
309,920
309,920
-
9,023
9,023
-
318,943
318,943		 2024
Total
£
31,598
7,568
4,419
2,909
1,783
4,163
52,440
2023
Total
£
1,452
4,920
3,000
7,804
2,260
3,777
23,702
2023
Total
£
298,893
(7,111)
291,784

All income from charitable activities in the prior year was unrestricted.

18

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

5. Income from other trading activities

Merchandise
Space hire
Total income from other trading
activities		 Restricted
£
-
-
-		 Unrestricted
£
15
15,150
15,165		 2024
2023
Total
£
Total
£
15
-
15,150
16,908
15,165
16,908

All income from other trading activities in the prior year was unrestricted.

6. Government grants

The charity received government grants, defined as funding from Arts Council England, YTKO and Bristol City Council (2023: West of England Combined Authority) to fund charitable activities. The total value of such grants in the year ending 30 June 2024 was £43,585 (2023: £1,452). There are no unfulfilled conditions or contingencies attaching to these grants in the year.

19

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

7. Total expenditure

Production fees
Staff costs (note 9)
Box office service charges
Rent and service charges
Advertising and marketing
Premises costs
Repairs and maintenance
Insurance
Accountancy
Depreciation
Miscellaneous costs
Subscriptions
Travel and subsistence
Sub-total
Allocation of support and
governance costs
Total expenditure		 Raising
funds
£
-
21,699
-
-
-
-
-
-
-
-
-
-
-
21,699
1,197
22,896		 Charitable
activities
£
229,541
75,946
22,675
23,068
18,510
3,669
13,691
-
-
-
-
-
2,686
389,786
22,743
412,529		 Support and
governance
costs
£
-
10,850
-
-
-
-
-
1,508
4,421
-
3,615
3,546
-
23,940
(23,940)
-		 2024 Total
£
229,541
108,495
22,675
23,068
18,510
3,669
13,691
1,508
4,421
-
3,615
3,546
2,686
435,425
-
435,425		 Raising
funds
£
-
15,965
-
-
-
-
-
-
-
-
-
-
-
15,965
1,103
17,068		 Charitable
activities
£
175,860
55,876
24,124
26,130
10,652
5,982
3,186
-
-
-
-
-
3,315
305,125
21,089
326,241		 Support and
governance
costs
2023 Total
£
£
-
175,860
7,982
79,823
-
24,124
-
26,130
-
10,652
-
5,982
-
3,186
1,739
1,739
2,641
2,641
-
-
4,690
4,690
5,140
5,140
-
3,315
22,192
343,282
(22,192)
-
-
343,282

Total governance costs were £4,421 (2023: £2,641).

18

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

8. Net movement in funds

This is stated after charging:

Depreciation
Operating lease payments
Trustees' remuneration
Trustees' reimbursed expenses
Independent examiners' remuneration:
▪ Independent examination (including VAT)
▪ Other services
Staff costs and numbers
Staff costs were as follows:
Salaries and wages
Social security costs
Pension costs		 2024
£
-
12,070
Nil
Nil
1,650
2,771
2024
£
101,959
4,122
2,414
108,495		 2023
£
-
12,000
Nil
18
1,650
1,352
2023
£
78,276
79
1,468
79,823

9. Staff costs and numbers

No employee earned more than £60,000 during the year.

The key management personnel of the charity comprise the trustees, the co-directors and chief financial officer. The total employee benefits of the key management personnel were £59,510 (2023: £63,155).

Average head count 2023
2023
No.
No.
4.5
3.75

10. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

19

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

11. Tangible fixed assets

Cost
At 1 July 2023 and 30 June 2024
Depreciation
At 1 July 2023 and 30 June 2024
Net book value
At 30 June 2024
At 30 June 2023
12. Debtors
Trade debtors
Prepayments
Other taxation and social security
Accrued income
13. Creditors: amounts due within 1 year
Trade creditors
Accruals
Other taxation and social security
Deferred income
Other creditors		 Fixtures,
fittings and
equipment
£
5,460
5,460
-
-
2024
£
3,773
-
-
28,812
32,585
2024
£
4,035
6,095
3,119
28,066
675
41,990		 Total
£
5,460
5,460
-
-
2023
£
11,470
691
5,199
43,661
61,021
2023
£
10,685
3,749
-
-
150
14,584

20

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

14. Analysis of net assets between funds
Tangible fixed assets
Current assets
Current liabilities
Net assets at 30 June 2024
Prior year comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 30 June 2023		 Restricted
funds
£
-
4,419
-
4,419
Restricted
funds
£
-
7,920
-
7,920		 Unrestricted
funds
£
-
119,304
(41,990)
77,314
Unrestricted
funds
£
-
137,274
(14,584)
122,690		 Total
funds
£
-
123,723
(41,990)

81,733
Total
funds
£
-
145,194
(14,584)

130,610

21

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

15. Movements in funds

Restricted funds
Arts Council England
YTKO
Bristol City Council
Theatres Trust
The Arts Society
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds
Prior period comparative
Restricted funds
West of England Combined Authority
Theatres Trust
The Arts Society
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds		 At 1 July
2023
£
-
-
-
4,920
3,000
7,920
122,690
122,690
130,610
At 1 July
2022
£
-
-
-
-
141,500
141,500
149,596		 Income
£
Expenditure
£
31,598
(31,598)
7,568
(7,568)
4,419
-
- (4,920)
-
(3,000)
43,585
(47,086)
342,963
(388,339)
342,963
(388,339)
386,548
(435,425)
Income Expenditure
£
£
1,452
(1,452)
4,920
-
3,000
-
9,372
(1,452)
323,020
(341,830)
323,020
(341,830)
332,392
(343,282)		 At 30 June
2024
£
31,598
7,568
4,419
-
-
4,419
77,314
77,314
81,733
At 30 June
2023
£
-
4,920
3,000
7,920
122,690
122,690
130,610

Purposes of restricted funds:

Arts Council England : For the production of the 2023/2024 Christmas Show.

YKTO: For the procurement of a new high-quality projector and website.

Bristol City Council: Funding for family theatre performances.

Theatres Trust: For replacing the aging fire exit doors to improve safety.

The Arts Society : For a family theatre for East Bristol communities.

22

Docusign Envelope ID: 719100C9-9A8F-40B7-A8C2-7D11BABD8C86

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2024

16. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2024
2023
£
£
6,420
6,000
-
-
6,420
6,420

17. Related party transactions

There were no related party transactions during the current or prior period.

23