YVONNE ARNAUD THEATRE TRUSTGROUP Consolidated Accounts for the Year Ended 31 March 2024 Reg15tered Charlty No. 2005(KI Page I YVONNE ARNAUO THEATRE TRusf GROUP Consolidated Ac¢ounts for the Year Ended 31 March 2024 Contents Pa8e Contents Reference and adminbtratlve detalls 3-13 Tru5ttes' report 14-17 Audhorf report 18 Statement of financial actlvltl 19 Balance sheet Statement ol flows 21-38 Notes to the accour Page 2 YVONNE ARNAUD THEATRE TRUST GROUP Reference and adm•nlstrati¥e detsils Charity name: Charity number: Re8iStered office: Yvonne Arnaud Theatre Trust 2(M)S00 Yvonne Arn•ud Theatre. MillbrooK Guildlord, Surrey GUI 3UX Key management pers(￿ne1 Yvonne Arnaud Theatre Trust: Trustees The trustees and offiters servin8 during the year and since the year end We￿ as follows= Mr Stephen Bampfylde Mr Roger Black MBE Mrs Emma Brunjes Mr Andrew French Mr Charles Geffen Mr Peter Gordon Mr 5te¥en Lee Mrs Vl¥lenne Mather Mr Michael Mortrmolyneux Chairman GBC Representative Key management personnel ol Y¥onne Arnaud Theatre Trust: Senior Staff Olrertor and Chief Exe¢ud¥e Director of Finance Dlrector of Marketing and Curtomer Experien D1￿ctor ol Development Mrs Joanna Read Mrs Sarah Gatward Mrs S•lly-Anne Lowe Mr David Beal OUT advisors Bankers: Bafdays Bank pk Wokin8 Corporate Management Sulte PO Box 673 Town Gate House Church Street Eart Woking GV216AE Auditors: TC Gfoup The Courtyard. Shoreh•m Ro￿. Upper Beeding Steyning West Sussex BN44 3TN Solicitors: Stevens & Bolton LLP Wey H￿Se Famham Road Guildford Surrey GUI 4Y Pag¢ 3 YVONNE ARNAUD THEATRE TRUST GROUP Report of the Trustees for the year ending 31 March 2024 The trustees present their annual report together wrth the consolidated financial statements for the year ended 31 March 2024. The financial statements comply with the Charit￿5 Act 2011. the Companies Act 2(N)6, the Trust Deed and Accounting and Reporting by Charities= Statement of Recommended Prartice applicable lo charities preparing their financial statement5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151. Theatre Chairman's Report l am pleased to report this that this has been a year of steady recovery for theatre as we continue to rebuild audientes post pandemic. Attendance for the year continued to improve with an average c3pacity of 58.8% being achieved acros5 the year. In all è total of 120,129 people from Surrey and the wider South- East region attended a production at the theatre during the year in either our Main House or Mill Studio. 10.423 people look part in a community workshop, event or actNity during the year and 3,669 took park in our Creative Learning Programme, making our total number of engagements 134.221. a 16% increase on kast years attainment. ourvis￿n for the theatre as a cultural community hub with theatre at its heart received firm endorsement in July, when we were awarded £2.988 millK)n from Your Fund Surrey towards our refijrbishment plans. Throughout 2024 and 2025 we will be transforming our public areas to make them more accessible and treate additional space for tommun5ty and creative learning. We are extremely grateful for ihis support from Surrey County Council and their recognition of the key cultural and community role our thealTe plays across the county. We look foTh¥ard to working with the offKers and councillor5 to deliver our vision for theatre and the many communities of Surrev. Folkjwing the award from Your Fund SuTrey much of the year was spent preparing for the front of house work5, working wrfrth our deS￿n team led by Reed Watts Architects, and advancing our Play Your Part campaign to raise the remaining funds needed. We thank sevefal Trusts and Foundations Inamed in note 41 for their support of our plans, including Fhlelity Foundaiion, Backstage Trust. Garfield Weston Foundation and The Foyle Foundation for their generous support. A special mention must be made of our pioneer donors. those bighearted individuals who gave earty in the campaign to give us momentum and impetLbS to succeed- Jim Douglas. Anthony and Carolyn Townsend, Kevin and Anne (her5tall. Saxton Bampfylde. In the autumn, two special evenings were hekl in the main house in supp)rt of the capital campaign. We were delighted that our Patron Dame Judi Dench and Gyle5 Brandreth visrted us in November and Dame Penelope Keith and Mel Giedroyc in December. Both evenings played to packed houses and were the highlight of the Surrey calendar as the Dames and their guests regaled packed houses with stories of their theatrical careers. Throughout the year the main house programme offered a var*d programme of drama. musKal theatre, new work and comedy all bound together by our hallmark of quality. This was complemented by an entertaining number of sw>ken word and mLtsic events together with well-known family title5. Highlights of the year included l. Daniel Bloke, Blood 8rother5, Noises Off, and And Then There Were None. In the Mill Studio we were pleased to welcome back Short Stories. Tall Tales and Dyad Productions. Page 4 YVONNE ARNAUD THEATRE TRUST GROUP Report of the Trustees for the year endini 31 Mar¢h 2024 This was the second year of ourthree-year grant funding agreement with Guildford Borough Council. The grant reduced again in 2023-24 from £273k to £236.5k. which continues to impact on our ability to invest in the fundamental operations of the theatre. The Council's financial position is clearly a cause for eoncern,. however, the grant sijpport the theatre receives from Guildford remains criticol to the theatre's long-term operational success. The three-year funding agreement is intended to protect the grant and give the theatre certainty with its financial planning. We welcome on-going dialogue with councillors about their best mean5 of supportin8 the iheatre's on-80ing operatTrons. The Senior Management team h￿ted an orientation se55￿n lor new and re-elected members of the council on the 18" of July. Eight councillors including the new mayor Cllr Masuk Miah. attended and were briefed about the theatre's current Work and OUT future plans, including the capital programme and the Creative Learning PrLvdramme5 work in Stoke Park and Ash wards in Guildford. l am proud to Teport that our Creative Learning programme. in keeping with the theatres strategic plan, increased its output a8ain this year. A new role of Communrf(y Engagement Producer wa5 added to the department. to support the growth of the programme. New initiatives this year included Careers Days, Shakespeare Primary workshops and Theatre EXplo￿r5 workshops with local SEN schools and colleges. We wefe delighted that our Youth Arts Leadership project which took place across the 2022-23 academic year was featured in the Better Lives Through Culture Ew)Iiwtion Re￿rt produced by Culture Box Surrey. 47 Young peO￿e from Mersiham Park School and Farnham Heath End School successfully gained their Bronze Arts Award. We are grateful to our Creative Leèrning supporters including the Alchemy Trust, Guildford Philanthropylcommunily Foundatbon forsurrey. The Shanley Foundation and the Boris Karloff Foundation for their supwjrt of ihis area of our Wofk. With supwjrt from Surrey County Council and our word councillor we were able to increase the number of workshop bursaries to 43 ihi5 year. Working Wlth the Surrey Social Prescribin8 team we are creating pathways for people currently experiencing social isolation and loneliness to access creative activrf(y. Our eslablished partners now include Surrey Young Carers and Surrey Action for Carers,. The Hive: Guildford Action for Families- Surrey Independent Visitor Services,. Guildford YMCA- Surrey Drama Teachers Netwofk and Surrey Social Prescribing Team. The Trustees are exceptionally proud of the growth and reach of this aspecl of our work. Ebewhere. the theatre took part in Surw Day in May hosting BBC RadK) ￿rre¥ in the morning with our patron Dame Penelope Keith. the offer of tours of the building through the morning and family craft activities. Heritage Open Day in September and two family-fun days during the Easter and summer school holidays saw the building filled wilh famil￿$ Wbth multiple 8enerations touring backstage and taking part in talks and craft activities. Preparation for the capital works, the pressu￿ of fundraising and a challenging touring climate meant that the theatre did not pioduce an additional own production this year. However, in the final months of the year, casting and tlesign work began on Porty Gomesl a new comedy by Michael Mcmanus which will go into rehearsal at the beginning of April 2024 before opening in Guildford in May prior to a six-week tour. This year, our annual pantomime was Cinderella - perhaps the most spectacular the theatre has produced to date. with an ensemble drawn from Guildford School of Actin& Italia Conti. and Laine Theatre Art5. Eostenders and Detectorists star Lucy Benjamin joined regulars Peter Gordon and James Merry in the cast s ihe Wicked Step-mother. Page 5 YVONNE ARNAUD THEATRE TRUST GROUP Report of the Trnstees for the year ending 31 March 2024 We look forward to a full and busy year in 2024-25. by the end of whbch we hope to be part way through the transformation of OUT wonderful theatre. I would like to thank all of our hardworking and skilled staff and volunteers who bring so much to their roles and to our Director and Chief Executive Joanno Read and Finance Director Sarah Gatward, for their leadership of the organisation. Stephen Bampfylde Chairma Our Object and Activities Our Mission A regional theatre with a national reach - our misshjn is to produce ènd P￿sent vibrant, outstandin& entertaining drama for the many communities of Surrey and the South-East. Wrth a thriving Studio space and Creative learning programme, we are an artistic resource and a cuhural hub.. a safe Space foT our many communities. We enable people of all ages across the South to participate in the thr411 and delight of live theatre, benefiting their health and well-teing and reali5ing stronger, more meaningful, social relationships and buildin8 prosperous and coheSNe communitie5. The Yvonne Amaud Theatre believes that art changes lives: that engagement in arts activity as a participant or an audience member is cenlral to the wellbeing of an individual, to promoting good mental health and emotional engagement and that iheatre is a cohesive and socialisin8 force for good. The Yvonne Arnaud Theatre enrTrches the lives of the communities It serves by offering and encouraging opportunities for learning, for C￿atiVi1V and personal and social devek)pment through its broad programme of theatre and arts actNity. Vision A commLJnity and culiural hub wilh theat￿ at its Co￿. Based on: our Artistic Programme. Community En8agement, Creative Leamin8 Programme and Cultural Leadershlp. Supported by- Public En8a8ement- Customer Experier)ce,. Fundraisin8. Public 8enefit In shaping our objectives for the year and planning our actT¥ities. the trustees have considered the Charity Commission's 8uidance on p4Jblic benefit. including the 8uidance"public benefit.. running a charity IPB21". The theatre ￿lieS on grants and the income from fees and charges to cover its operating costs. Affordability and access to our programme is central to the theatre's mission and is reflerted in our d￿er5e programme, community and creaiive ￿arnIng offer and our pricing policy both later detailed in thi5 report. The theatre is committed to arts participation as a tojl to explore the world. raise awareness, educate, empower. and inspire real and lasting change. The theatfe is a major arts and culture provTrder in the South-East and the On￿ producing venue in Surrey. OUT work enable5 people from all communities to enjoy and en8a8e with iheatre and ihe performing arts on many levels. The work we pro8ramme and produce is intended to appeal io a diverse and broad range of comrnunities and to promote, en8a8emerit with the work. an understanding and appreciat￿￿ of the world and others around them. Page 6 YVONNE ARNAUD THEATRE TRUST GROUP Rewt ol the Trustees for the year ending 31 Marih 2024 The YAT Creatrve Learning Team creates targetetl activr(ie5 that fLKUS specificallyon enga8ing those people who have IiTnited acces5 or opportunrties to engage with the arts. This includes families, children and younB people who have a low household income or low socK)economic status. young carers,. care experienced young people and those who are not in employment. educatton or trainin8 INEETI- adults and older members of the community who may be at risk of harm or Social isolation. We ensLbre Deaf and disabled people are able loac￿5$ and engagewith ourcreative learning offer across all strands. Captioned and signed performances for deaf people and the deaf and hard of hearing communrty as well as a relaxed performance for our annual Christmas show are part of our core offering. The theatre is TegulaT meeting venue for many arts and activrtie$ groups in Guildford and Surrev. Achievements and Perlorniance The Main House Programme The Autumn season presented a strong varied programme including 81ood 8rothers, Metomorphosis and Noises Off, which aided an increase in ticket sales. The response to the season was very positive with 6,714 people booking for the first time since the t*ginningof April 2023. 'Overused epithets of "Awesomel" and -Amozing- for once seemed justified. ft was certainly impressive ond memoroble theotre, _ Guildford Drt7gon. In November we presented Northern Stage's powerful moving produciion oll, DonAel Bloke whith had recelved 5-star reviews and garnered a standin8 ovation from its audience at each performance. Alongshle the product￿￿n. a collection was made for the North Surrey Food Bank. The Spring Summer Highlights included And Then There Were None and 8onnie ond Clyde the musical, together with Schoolfor Scondol and Twelve Angry Men alongside our established family programme and some marque name comedy. Productions of Oh What o Lovely Warand Mocbeth appealed to Oufgrowing secondary school audience. A total of 97 productions and 338 perfomiances were seen by 115,984 people in the main hoLsse during the year. For the first time, the film programme included a Dementia Friendly Screening of Momma Mio as part of a wider initiative for the Theatre to be a dementia friendly venue. To support this. Front of House. café staff and volunteers also undertook Dementia awarene55 training during the year. Our pantomime this year, Cinderello. featured Lucy Benjamin IEastEnders, Cosuolty, Doctors) as the Evil Stepmother with Matt Pinches joinin8 regulars Peter Gordon and James Merry. The First Night was again an evening for Young Carers and their families. with the Mayor and councillors from Guildford Borough Council in attendance. This year. as well as ihe relaxed performance, a BSL performance at)d a dementia friendly performance was included in the performanceschedule. Cinderella pioved very popular with both audience and Critics, with over 26.(KKI people watching the show. 'Cinderello is o perfect treat. full oAfun'_ British Theatre Gvide 'All in oll. this mwht be myfavourite Yvonne Arnaud￿ntO to d(Jte'_ Muddy Stilettos Our natlon?I tour for 2024. new political comedy Party Gomesl was announced in November with Matthew Cottle being joined by Oebra Stephenson. Krissie Bohn. Jason Callender. Natalie Dunne and William OxborTOW. The tour is confimied wrth Windsor. Cardiff. Worth4n& Cambridge. Bath and Ma￿ern participating. Page 7 YVONNE ARNAUD THEATRE TRusf GROUP Report ol the Trustees for the year enthn8 31 March 2024 Community Engagement ond animation program During the year a n￿rn￿r of new groups established our café and foyers as a meeting place for their activities. including a Spanish language group and local Diabetes UK suprM)rt group. Ovei 6(X) children and their carers attended the free Pop-up Play sessions held in the back cafe every Friday during term time. The theatre took part in National Hertlage Oay in September and Surrey Day in May, offering backstage tours and talks and children's craft actiVSties in the foyers. In addition, Easter and Summer family fun day5 were scheduled offering artivities, trails and theatrical fun to children and their families and care￿. Volunteers The theat￿ continues to rely upon a commrfrtted and friendty group of volunteers, numbering around I who provide sUp￿rt to front of house. facilit￿S and estates. creative learning and archNes. We are very grateful for their time. Several social event and training opportunities were offered to the volunteers throughout the year. The Mill Studio The Mill Studio continues to house our programme of work for young people and emerging and local companies. (fver 4.(K¥J people attended a performance in the intimate studio over the year. Seatin8 onlv 80. the space is well suited for cutting edge and bespoke pro8rammin8 serving distinct communities an diverse voices. Notable productions in the year included Thealre Centres product￿￿ of Wish You Weren't Here. Creative Learning Panto Partnership Proje Throu8h this yearfs Panto Partnership project. the theatre provHled a total of 207 funded ticket5 to enable young people and families from low-income backgrounds and groups which face barriers to accessing the arts from across 5LFfTey. to attend the opening night of Cinderello. Prior to the start of the show, Ihese groups were celebrated in an address by the Mayor of Guildford and received 3 panto style 'shoul-out' during the performance. The 2023 Panto Partners were: Surrey Young Carers. the Hive- Guildford ACt￿n foi Families; Independent Visitor Services- and the Guildford YMCA. The schools inVo￿ed through Surrey Young Carers were Howard of Effin8ham. Holy Trinity School and St Peterfs Catholic Sch<>ol. orking with yeor 6 5tudent5 hos been o lot offun in their joyful moments, ond eye-opening in their more difficutt. The main thing the c1055 hos tought me is thot if you make a connection with everyone and build trust in you, then the children can do even better thon they thought PO55ible.- Daniel. GSA Applied Theatre BA Placement Student The department is taking a proattTrie role in profiling the career opportunities in the performing art5 and the theatre's role as a gatewaylpoint of entry to the industry. The successful creative careers workshops piloted in 2023, were repeated in March 2024. with 16 taster workshops delivered over I day to 65 young people from local secondary schools. In addltion, the team took part in Creative ca￿er5, a forum and workshop for careers advisors in the County,. gave presentations for Surrey Job Centre staff and presentations for work coaches in the South-East section. Pag¢ 8 YVONNE ARNAUD THEATRE TRUST GROUP Report of the Twusiees for the yeaw endin8 31 March 2024 "Thonk you so muchfor hostin9 Us yesterdoy. It WOS SO 9ood to hove you there. to share your pa55ionfor performing orts." Kay Vardon, SenK)r Programme Manager, Discover Creative Careers In our established half-term and holKlay workshop programme. we were able to offer Il% of the participants a bursary place to enable them to attend. "X helps to look after herdis17bled brother. She is osurrey Young Corer. This bursory willgive hersome time to just be herself ond enjoy unything music and droma reloted." Parent -x receives Pupil Premium Funding. Single porentfomity with not o lot of spore money to spend on positive activities like thisl X is interested in MedA7 ond behind scenes stuff so I thought the directing workshop could be o good opportunity.- {Home School link Worker). In total 208 sessions We￿ delivered, engaging 3.669 children, young people and 3du115 in creative Fearning opportunr¢ies. We delivered creative educational workshops and activities to 932 children and young people from acros$ 13 Sch￿15 and colleges in Surrey. We delivered CPD to 10 teachers from 8 Surrey based schools and colleges and delivered 57 Art5 awards at Bronze (Youth Arts Leadership) and Introduction (Discover Drama) level. 5toffing, Operotions ond E5tote Craig Daniels joined as Box Office Manager from the Anvil in Basingstoke. replacing Claire Howes who left in September. A new chef supeTVi50r and sous chef were Tecruitetl in the autumn to ensure a full kitchen team rea(ty for Christmas. Jess Spath joined in July as Community Engagement Producer. A number of small improvements were undertaken in the year ready for the capital works commencing in 2024. Mill Studio toilets were refurbished, Improvements were made to fire routing in the Mill Studio and upper stories cleared. Upgrades to IT 5UPPOrt and moving to a fulty cloud hosted system were also undertaken. The Vanbrugh room was refurt)ished during the year to bring décor and facilities up to date. Fln•n¢lal revlew The theatre re￿rted a SLTrrplu5 in the year of £511.82112023.. deficit of £191.4001. The tradir¢8 subsidiarie5' resutts have all been consolidated into the group resutts. All profits generated by tradin8 subsidiaries a used to assist the theatre charities to meet their objectives. Ourpricing policy Our pricing policy reflects ourstrategy of enabling all within our community. whatever their means. to take part in our activities and to attend our theatre. We offer discounted rates io schools. under 25.5, and low- income groups a5 well as funded Ino costl tickets to partners in our Creative Learning Programme and free companion tickets. Discounts are also available for large group bookings. Concessions are intended to foster and encourage an appreciation of and en8agement with theatre and drama and ensure those from a low-income background can access the arts. Pa8e 9 YVONNE ARNAUD THEATRE TRUST GROUP Report ofthe Trustees for the year enthng 31 Marth 2024 Investment powers ond policy The directors. having regard to the liquidity requirements of operating the theatre. have kept available funds in instani Jccess deposit accounts. Althou8h trustees seek to achieve a rate on deposit that erther matches or exceeds the rate of inflation, due to wider economic circumstances deposit rates have been depressed and so this aim was not achieved in the year. Cash reserves surplus to tlay-to-day operatin8 fequirements are held by Yvonne Arnaud Theatre Trust and placed on longer term Oeposits. The invested funds held on dewsit achieved an average rate of 5.(XPA12023.. 3.63%1. Reserves policy ond going concern Reserves are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and OtherexpendrtU￿. The irustees considerihat the ideal level of reserves would enable the theatre to cover a three-month dark period. As at 31 March 2024 this would be £650,OC As at 31 March 2024 the charitable group has free reser¥e5 of £1,539,546. The theatre has included unrestrKted and two designated reserves in this calculation as the trustee5 are able to re-designate or return these funds to general reserve5 as required. Plans for fvture perlods 2024-25 will be dominated by the front of house capital projeci. We anticipate the appointment of a contractor at ihe end of May 2024 with works due to start on site at the end of July 2024, continuing until summer 2025. The project includes installing a new lift to all floors, new accessible toilets and baby changing facilities. a new multi-purpose room for creative learning and communtty use with improved sound proofing. A longer summer dark period 15 scheduled for summer 2024 to enable phase one of the works to take place. Thereafter the works will continue discreetfy whilst the theatre ￿MaInS open to the blic. In June 2024 we will be holding our fbrst fundraising 8ala to support the Play Your Part capital project campaign. July 2024 will see the public launch of the fundratsing Campa￿￿, with just under £9CKI.OCKJ remaining to raise. We will be making our own Yvonne Arnaud Original Production of Porty Gon7es! in April 2024. A political comedy commi55ioned from Michael Macmanus which will tour to Bath, Windsor, Mafvern, Cambridge. Worthin8 and Cardiff after opening in Guildford. much-loved pantomime for 2024-25 will be Robin Hood. Strnclure, Govem•n¢e and Management Governance Review The Board undertook a review of the governance and structure of the theatre group during the 2023-24 vear. A decision was taken to ￿gISter ihe charitable unincorporated Yvonne Amaud Theatre Trust as an incorporated charity limited by guarantee. The objects of the incorporated Yvonne Arnaud Theatre Trnst remain unchanged-to advance the arts for public benefit through the provision, maintenance arbd support of the Yvonne Amaud Theatre. These changes received Charity CommbSs￿n opproval wilh effect from 301h April 2024. These will be fully rew8nised in the statutory accounts p￿sented for the year end 31" March 2025. Pag¢ lo YVONNE ARNAUD THEATRE TRUST GROUP Report of the Trustee5 for the year endini 31 March 2024 Governing d(Kument The Yvonne Arnaud Theatre Trust Iyhe Trusfl is an unincorporated charity. having been established under a Trust Deed dated l May 1961. as amended 30 July 1975. which launched ihe appeal which led to the building of the Yvonne Arnaud Theatre on the Millbrook site. The thealre eventually opened in 1965 and lays claim today to be one of the country's leading regional theatres. Appointment of trustees The Board of Trustees consists of Ordinary and Representative Trustees. At any one time, there should not be less than five and not more than 10 Ordinary Trustees. Representative Trustees shall not number more than 7. The Trustees may appoint any ￿lson to be an Ordinèry Trustee at any time provided ihe maximum number of Trustees is not exceeded. Representative Trustees may be ap￿inted at a meeting convened and held according to the policy of the appointing body. All trustees are also directors of Yvonne Arnaud Theatre Management Ltd, and both bodies meet quarterly. Representative Trustees may be appointed by GLtildford Borough Council, the Unryer5ty of Surrey and Equity. Trustee induction ond troining New trustees are recruited with the aim of ensuringthat the balance of skills and experience held by board members is maintained and relevant to the objectives of the charrty. New trustees are invited to participate in an induction process. which includes meetin8 With the theatre staff and a one-to-one with the Chief Execulive and the Finance Director. An understantling of theatre operations is provided through meetin85 With heads of department and senior personnel. Background papers. including business plans, key reports from fundin8 bodies. and financial information are provided. Trustees are also sent updates from the Charity Commission and a copy of the Good Trustee Guide. Orgonisotion The Trust has delegated the runnin8 of the theat￿ to the board of Yvonne Arnaud Theatre Mana8ement Limited I"Mana8ement"l. a company that also has charitable statLts. The boards of both organisations meet quarterly and there a￿ sub-commrttees tovering building projects, finance and audit, which meet more frequentlv. Responsibility for the day-to-day operations is vested in the Director and Chief Executive who is appointed by the board of Management. To facilttate effertive operations, the Dirertor and Chief Executive has delegated authority, within lerms of delegation aN)roved by the t11re￿or5, for operational matters including finance. employment and artistic perfomiance related activtty- The bars and restaurant a￿a$ Wrthin the theat￿ a￿ operated through a subsidiary of Management, Yvonne Arnaud Theatre ICaterin81 Limited 1-calerin￿l. Catering is not a registered charity, but provided it has distributable reserves, covenants an amryjnt equivalent to any annual taxable profits direct to Yvonne Arnaud Theatre Trust. There is one further subsidiary of Management= Yvonne Arnaud Theatre (Produrtionsl Limited is commissioned by Management to take responsibility for the pre-production. rehearsal and runnin8 of all in-house productions. Page I YVONNE ARNAUD THEATRE TRUST GROUP Report ol the Trustees lof ihe year endinz 31 March 2024 Furtdmising With a strong Staff team now established and led by David Beale Directorof Development. significant funds for the c3prt31 programme were raised and pled8ed this year including support from Backstage Trust. Garfield Weston Foundation, Fidelity Foundaiion. The Foyle FOundat￿)n and others. Local support was exceptionally strong with gifts or pledges received from The Ingram Trust and The Patricia Routledge Foundation. Several events were presented in the main house to raise funds for the Play Your Part campaign. Along with other contributions from indNidual do1￿￿$ and trusts. the campaign received £362,621 in the year. Revenue fundraising was also successlul with new partnerships formed with A J Bennewith & Co, Holidav Inn Guildford and Covefsure. The year saw an increased number of Vanbrugh membership5 afthough a reduction in overall income due to the death of a number of higher-level donors. Our offer of a talk introducing the season of shows and h18hl￿hts. given by the Theatre Director and Program and Product Manager proved popular. The Yvonne Arnaud theatre operates an internal fundraising team and does not engage commercial fundraising participants to carry out fundraising actrvity. As part of our compliance with the General Data Protection RegtslatKJns the theatre has ￿vIeWe(l and upjated its privacy policy. The policy is available at wwwJvonne-arnaud.co.uk rivac the policy clearly states what personal data we will hold in relation to supporteTs and how this information will be used. The theatre has received no complaints about its fundraising activities either durin8 the financial year or sub5equentty. Related porties ond co-operution with other orgonisotions None of our trustees receive remuneral￿n or other benefit from their Work with the charity. Anv connection between a d1￿ctOr or senior manager of the tharity with etther a production company or production company must be disclosed to the full board of directors in the same way as any other contractual felatbonship with a third party. Guildford Borough Council prOV￿e$ e￿ential core fundin8 in support of the artistic programme as èn amenity for Guildford 8orou8h resbdents and the publK. The fundin8 agreement was formalised in Mafch 2022 for a three-year period. The theatre report5 back against a number of agreed measures and deliveries. A summary of tranSaCt￿n$ is set oul in ￿te 18 to the financial statements. Poy policyforsenior stoff The trustees consider that the Board of Directors are responsib￿ for reviewing policy according to the Memorandum and Articles of Association. The senior management team comprise the key management personnel of the charrty. in char8e of directin8 and controllin& running and operalin8 the company on day-to-day basis. All direttors gNe of their time freely and no director received remuneration in the year. Re￿ted party transactions are disck>sed in note 18 to the financial statements. The pay for senior staff is reviewed annualty. Where an increase is made, it will be no greater than the percentage increase made to the legalty set national minimum wage rates. Given th3t financial sustainability is one of the major risks for trM)th the charity and its subsidiaries, an increase in pay rates will not always be made. Page 12 YVONNE ARNAUD THEATRE TRUST GROUP Report of the Trustees for the ye¥ ending 31 March 2024 Risk monogement The major risks to which the charity is exp)sed have teen identrfied by the trusteess and procedures are in place to mitigate them. A fomial risk anatysis review 15 presented annually, and the risk register is reviewed and updated as a live document with the lop risks being presented at each board meeting. In critical areas, particularty those involving emergenry procedures, fire and heahh and safety, management teams conduct regular meetings on a more frequent ba$6 and regular awa￿ne$S training for staff working in these operational areas. Trustees, responsibil¢ties ITr relation to the financial statements The trustees are respon5ibleforpreparinga trustees. annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Actepted Accountin8 Practice). Company law requires the trustees to prepare financial statements for each year which give a true and fair view of ihe state of affairs of the charitable company and of the incoming resource$ 3nd application of resources. including the inco￿￿ and expenditure. of the charitable company for that period. In preparing the financial statements. the directors are required to.. select suitable accounting policies and then apply them consistently- obseNe the methods and principles in the Chartties SORP.. make judgements and estimates that are reasonable and prudent- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements- prepare the financial statements on the goinE corKern basis unless it is inappropriate to presume that ihe charity will continue in business. The trustees are responsibbe for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 21X)6. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The Irustees are reswnsible for the maintenance and integrity of the corporate and finantial information included on the charitable companl5 website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from le8islation in other jurisdictions. Statement as to disdosure to our audito In so far as the trustees are aware at the time of approvi￿ our trustees, annual report.. there is no relevant information. being inforMat￿n needed by the auditor in connection with preparing their report, of which the charitable compan￿5 auditor is unaware. and Page 13 YVONNE ARNAUD THEATRE TRusf GROUP Report of the Truste￿ for the year enthng 31 Marth 2024 the trustees, having made such enquiries of fellow directors and the charitable company's auditor that they ought to have made. have each iaken all steps that they are obliged to take as a direc1or in Order to make themselve5 aware of any relevant audif information and to establish thai the au(litor is aware of that information. By order of the board of trustees Mrstephen 6 August 2024 mpfyl Page 14 Independent Auditorfs Report to the Trustees of Yvonne Amaud Theatre Trust for the year ended 31 March 2024 Opinion We have audited the financial statements of Yvonne Amaud Theatre Trust Group (the .￿reTht charitw) for the year ended 31 Marth 2024 which cornprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet. the Consolidated Cash Flow Statement and notes to the financial statements, including a summary of significant accounting policies. The financial reporting frarnework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland Iunited Kingdom Generalty Accepted Accounting Practice). In our opinion, the financial statements- glve a tnje and falr view of the state of the group's and parent charity's affairs a5 at 31 March 2024. and of the its incoming resources and application of resources for the year then ended,. have been property prepared in accordance with Unrted Kingdom Generally Accepted Accounting Practice- and have been p￿pa￿d in accordance with the requirements of the charit￿ Act 2011. Basis for opinion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standard5 are further described in the Auditor'5 responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent charity in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK. includingthe FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance wrth these requirements. We believe that the audit evidence we have obtained is suffKient and appropriate to provide a basis for our opinion. Condusions ielating to 8o•n8 coricern In auditing the financial statements, we have concluded that the trustees, use of the 8oin8 concern basis of accountin8 in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not hlentified any material uncertainties relating to events or conditions that. individually or collectivety. may cast signific3nt doubt on the Broup or parent charity's ability to continue as a going concern for a perK)d of at least twelve fflonth5 from when the financial statements are authorksed for issue. Our responsibilities and the reS￿nsIbIlItIeS of the trustees with respect to going concern are described in the relevant sections of this report. Other infom)ation The trustees are responsib￿ for the other infom)ation. The other infoTmalion compTise5 the information included in the trustees. report, oiher than the financial slalements and our audito¢s report thereon. Our opinion on the financial statements does not cover the other information and. except to the extent otherwise explicitly stated in our rekx)rt. we do not express any fom) of assurance conclusion thereon. Page 15 Independent Auditorfs Report to the Trustees ol Yvonne Arnaud Theatre Trurt for the year ended 31 March 2024 In connection with ouraudit of the financial statements. our responsibility is to read the other information and. in dobng $0, consider whether the other inf0mlat￿n is materièlly inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material missiatements. we are required to deterniine whether there is a material misstatement in the financial statements or a material misstatement of the other infomiation. If. based on the work we have performed. we conclude that there is a material misstatement of this other information. we are required to ￿port that fact. We have nothing to rewrt in this regard. Matters on which we are required to report by exception In the light of our knowledge and understanding of the group and parent charity and its environment obtained in the course of the audit, we have noi identified material misstatements in the tru5tees' report. We have nothin8 to report in respect of the following matters in relation to which the Charitbes Act 2011 requires us to report to you rf, in our opinion- adequate accountin8 ￿(OrdS have not been kept, or retums adequate for our audit have not been received from branches not visited by us- or the financial statements are not in agreement with the accoLbntin8 records and returns- or certain disckjsures of trustees. remUnerat￿n specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responslbilitles of trurtees As explained more fulty in the trustees. ￿$F￿nsIbIlIt￿S statement, the trustees are ￿sponsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing ihe financial statements, the trustees are responsible for assessing the group and parent charitls ability to continue as a going concern. disclosin& as applicable. matters related io going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the 8TOUP or parent Charity or to cease operaiions. or have no realistic alternative but to do so. Auditorfs responsibililies lor the audit ol the financial statements Our objectives are to obtain reasonable assurance about whether the financial 5tatement5 a5 a whole are free from material misstatement. whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance 15 a high level of a55urance, but is not a guarantee that an audit condurted in accordance with ISAS IUKI will a￿ayS detect a material misstatement when it exists. Misstatements can arise from fraud orerror and a￿ considered material rf, individually or in the aggregate, they coul(1 reasonably be expected to influence the economic decisions of users taken on the basi5 of these financial statements. Irregularities. includin8 fraud, are instance5 of non-compliance wrih laws and ￿gulatIOns. The extent to which Our procedures are capable of detecting irregularities, including fraud, is detailed below. Page 16 Independent Auditorfs Report to the Trustees of Yvonne Amaud Theatre Trust for the year ended 31 March 2024 Extent to whlch the audlt was considered capable of detertin8 irre8ularltles. including fraud The objertives of our autlit, in respert to fraud. are: to identfy and assess the risks of material misstatement of the financlal statements due to fraud- to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud. through designing and implementing appropriate responses,. and to respond appropriatety to fraud or suspected fraud identified during the audit. However. the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows: We identified areas of laws and regulations that could reasonabty be expected to have a material effect on the financial statements from our general commercial and sector experience, and through diScuss￿n wrf¢h the trustees and other management las required by auditing standards). and discussed with the trustee5 and other management the policies and procedures regarding compliance with laws and re8ulations.' We identified the following areas as those most likely to have such an effect.. healih and safetv; General Data Proteclion Regulation IGDPRI- fraud- bribery and corruption and employment law. Aydtting standards limit the required audit w¢xetlures to identify non-compliante with these law5 and regulations to enquiry of the trustees and other management and inSpeCt￿n of regulatory and legal correswndence, rf any. We considered the le8al and regulatory frameworks dirertly applicable to the financial statements reporting framework IFRS 102 and the chart1￿$ Art 20111 antl the ￿levant tax compliance regulations in the UK,. We considered the nalure of the group and parent chariV5 operations, the control environment antl business perfomiance- We communicated identified laws and regulations throughout ourteam and remained alert to any indications of non-compliance throughout the audrfrt. We considered the procedures and controls that the group and parent charity has established to address risks Klentified. or that otherwise p￿vefit, deter and dete￿ fraud: and how senior management monrtors those programmes and controls. Based on this understandin8 we designed our audit procedures to identrfy non-compliance with such law5 nd regulations. Where the risk was considered to be higher. we performed audil procedures to add￿sS each identified fraud risk. These procedures included.. testin8 manual journals.. reviewing the financial statement disclosures and testing to 5UPPOrting documentation.. performing analytical procedures,. and enqtJirin8 of management, and were designed to pn)vide ￿4$Onable assurance that the financial statements were free from fraud or error. Owin8 to the inherent limitations of an audit, there is an unavoidable r￿k that we may not have detected some material mi55tatements in the financial statements. even though we have properly planned and performed our audit in accordance with auditing standards. For example. the fvrther removed non- cownpliance with laws and regulations lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely the Inherent￿ limited procedures reqLbired by auditingstandards would identFfy it. The risk is also greater regarding irre8ulJrilies occurring due to fraud rather than error, as fraud involves intentional concealment. forgery. tollusion. omissM)n or misrepresentation. We are not responsible for preventin8 non-compliance and cannot be expected to detect non-compliance with all law5 and regulations. Pag¢ 17 Independent Auditorfs Report to the Trustees of Yvonne Arnaud Theatre Trust the year ended 31 March 2024 Use ol our report This report is made solely to the group and parent CharIt￿S member5. as a ￿d¥. in accordance with the Charities Art 2011. Our audit work hos been undertaken so that we mvdht state to the group and parent charity's members those matters we are required to state to them in an auditorfs report an(1 for no other PLsrpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other thon the group and parent charr(y and the group and parent chafiws members as a l)ody, for our audit work, for this report. or for the opinions we have fomied. Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Audrtors Office.. Su55ex Dated- 6 August 2024 Page 18 YVONNE ARNAUD THEATRE TRU￿ GROUP Consolidated Statement of Fi￿n¢1•1 Arti¥ities for the Year Ended 31 Mafch 2024 2024 2024 Pltst* Unrestricteil Remrkted & Dwnated Fund5 Funds 2024 Tot Fynds 2023 Total Funds Income and endowrnents from.. lTr)Rotions ondlegocies 150,797 304,766 455,563 253,917 Chofiroble octivifies - Operation of Main Hotsse - Creative Learnin8 Program 3.673,419 10.444 3.683,863 196.199 Is,oso 211.249 3.869,618 25,494 3.895,112 3,195,393 29,073 3,224,466 Othertrodifr7Q Ocfivities - Rental iftcory Extern315et building - Vanbru8h Club subscript￿n$ - Carering operat￿r 23,1 30.891 50.1 595.820 700.057 23,19) 30,891 50,156 595.820 7(K),057 23,191 36,147 56,972 435,646 551,956 In￿Stment income. bonk interest 150.507 150,507 50,107 Total Income 4.685.224 516.015 5.201.239 4.080,446 pendllure ¢)n.' Roi5ingfunds C¥Jnations and legacies - Catering operatK)ns 114,4311 1460,8991 1475,3301 114,4311 1460,8991 1475.3301 15,3711 1389.2661 1394,6371 Choriroble Octivi￿e5 - Operation ol Main House - Youth & Education Pro8ram io io 14,016,255) 1159,3411 14,175.5961 1105.9511 126.3911 1132,342 14,122,2061 1185,7321 14.307.9381 13.946,6751 l(M),7441 14,047,419) T+x¥I e¥pendllure 14,597,S361 185,732 14.783.268) 14,442,056 Net i￿Orne1(expendrtV￿j Taxation Translers beiween funds 87,688 93.850 15(K>.(KX)I 330,283 417.971 93.850 1361,6101 170,210 28-29 STr?,￿)0 Ner movement In lunds 13 1318,4621 830.283 511,821 1191.4 ReconcS1Satlon of fvnds.. Total funlls brought forward at l AWA 2023 Total fund5 carried forward ai 31 March 2024 3,839.203 3.520.741 346.￿2 1.176.885 4.185,805 4,697,626 4,377,205 4,185,805 27-29 The statemeni of financial activities includes all eains and1055e5 recognised in the period. All income and expenditure derive from continuin8 attivitie5. Pag¢ 19 YVONNE ARNAUD THEATRE TRUST GROUP Balance Sheet as at 31 Marwl legac￿5 ResiwtK>n ￿Y 92.942 46.974 10.881 92,942 304.766 351.740 10,881 89.257 89.257 15.137 4,220 145,303 145,303 160,440 253,917 15.137 4.220 150,797 304,766 455,563 93,477 1024 Unrestricted Restricted TrAal & Dtsignated 2021 UnrestrKted Restrirted Total & Deygnated Caprtal Pioiect fvndraisine.. Backstage Trust The Geoff ond F￿na squi￿ Foundation Garfiekl Weston FOUndat￿)rt The Ingram Trust Mar4 BJorn50n Memorvdl Fund Michael Wat50n ChaIrtab￿ Twst The PatriCK4 RoUt￿dge Foundath)n Private donors inchJdin8grft a Event lundraisifig I￿.(￿ 10).c I50,[￿￿ 1S0,LNYJ 20,1KiI 20,1 io,c 16.766 io,(( 19, 43,834 304,766 351.740 3,140 43,834 46,974 15,137 15,137 15,137 15,137 P4e 25 YVONNE ARNAUD THEATRE TRUST GROUP Note5 to the Accounts the Year Ended 31 March 2024 Int4)me from tharitable activities 2024 Unrestricted Aestrirted Trtal & Designated iozj unrestricted Reslrkted Totsl operat￿Tr ol Main House Box office income Restoration levy Fufidraising support Friend5 membership Sundry income PerforMar￿e grants Isee note 71 3.319,326 3,319.326 195,699 16.638 29,025 71,930 237.CrtlO 1%.199 3,869.618 2,882,711 2,882,711 195.699 16.638 29.025 71.930 236.S 3.673.419 s.soo 25,013 7,169 2,Th)0 275,000 2,000 3,195,393 25,013 7,169 273,000 3,193,393 Creative learnin8 proyamn Workshop income Performarte grants (see note 81 10.390 10,390 15.104 25,494 7,473 7,473 21,600 29,073 15.050 15.050 21,600 21,600 10,444 7,473 3,683,863 211.249 3,895,112 3.2￿),866 23,600 3,224,466 her tradln attl￿tIeS and In¥eMment In¢Mie All of the group's investment income of £150.50712023'. £50,107) arise5 from money held in interest bearing deposit accounts. The income ari5in8 from other trading aclNities and investment income for the 2023 comparative year was all unrestricted. Maln house nts 2023 Unre51rirted Re5lrirted & De5i¥nated Total & De5iWWted Guildfo¥d Borough Countd ApprentKeship funding 236.5fy) 236.5CL) 273,(D) 273.(K 2,OC 236,5(Y) 237.( 273,Cl)O 27S,(N)O Page 26 YVONNE ARNAUD THEATRE TRvsf GROUP Notes to the Accounts lor the Year Ended 31 March 2024 Creatlve Lèarnl rants 2024 Umestritted Restrirted Totsl & Oe4nated 2023 VnrtrKted Restrirted Trtal & Oesiinated CrealNe Learning Grant Funding". The Art5 Award Ac£e55 Fur¥J Bernafd & Joyce Ccdeman The Boris Kadoff FoundalK)n Community Foundatth knev The Greycourt Trust The Ratcliffe cr The Rowan Bentall CT The Shanley FoUfidat￿n Surrey County Council Private Dono 12,XN) 250 2.3C(I 2.3LK) 15,050 15.104 21,600 21,E4XI Now in its third year the Creative Learning program continues to grow. Through 3 range of workshops. one off events and targeted projects, the theatre provides creatNe activity for groups and individuals who have limited acce55 or opportunities to engage with the orts. In 23-24 children and young people were supported to take part in holHlay workshops through the theatre's bursary scheme. Funded tickets for panto were provided for local partner group5 including Surrey Young Carers. the Hive Community Centre. Guildford ActM)n for Families and the Guildford YMCA. The Discover Theatre project designed for SEN students. supported pupils at Gosden House to achieve the Explore Arts Award. Family Fun Days provided opportunities for chTrldren and their parents/ carers to take part in a range of activities at the theatre. while CreatNe Careers events and backstage tours enabletl young peopbe to learn more atr*xJt careers in the creatNe industries. Restricted grants of £15,05012023- £21,6(Y)I were received in the year towards these creative learning projects. RaI￿n funds The expenditure on raisi￿ hjnds for the 2023 comparative year was all from unrestricted funds. Page 27 YVONNE ARNAUD THEATRE TRUST GROUP N￿e$ to the A¢counts for the Year Ended 31 March 2024 io. Ana r50fex iture on charltable actl¥ltles The expendrture on charrtable Jctivtties was £4,307.93812023: £4.047.4191 of which £4,122.20612023.. £3.925.4061 was unrestrirted and £185.73212023= £122,013) was restrirted. 2024 Makn fJeatfve Lèaml 2023 c￿lIve Main T¢*al Hou5È Leaml Total Production costs Irrecoverable VAT Production commissvning fee Staff costs Oiher creative learnin8 direct Costs Governance & supwrt costs Inote 111 1.735.648 296.325 29 1.735.648 2%,325 29 68.162 68.162 2.572 2.572 61.608 2205.202 1.736,624 197,765 1,736,624 197,765 53,448 53.448 2,322 2,322 44,974 2.057.226 2.143.594 2.012.252 4,175,596 132,342 4,307.938 3,946.675 I￿),744 4,047.419 11. Ana Isol ovemance and su The group allocates its governance and support costs as shown in the table below and then further apportions those costs beh¥een the two charttable activities undertaken (see note 101. These costs are allocated on a basis con515tent with the use of resources. 1014 2023 Athfertising & publicity Staff costs 285,721 l.CQ3.247 393.884 139,027 48,075 126.188 12.937 54,797 5,434 111.852 2.181.162 285.721 I.(￿3.247 393,884 139.027 72,115 126.188 12.937 54.797 S.434 111.852 24.040 2.205.202 311.502 954,122 375,291 138.597 17,408 126.749 311.502 954.122 375,291 138,597 39,358 126.749 5,800 39,720 1,997 64.090 21,950 2,057,226 Property costs Office cosis Prolessional fees Depreciation & loss on di$￿)$al Travel and subsistence Bank & credit card charges Bad Deb lrrecovera￿e VAT 24.040 21.950 39,720 1.997 2.035,276 Page 28 YVONNE ARNAUD THEATRE TRUST GROUP Notes to the kcounts lor the Year Ended 31 Mar¢h 2024 12. Taxatl The charity is exempt from tax on income and Bains falling wthin section 505 of the Taxes Art 1988 or section 252 of the Taxation of Chargeabk Gabns Att 1992 to the extent that these are applied to its charitable objerts. Yvonne Arnaud Theatre IPrc¥Juctionsl Limited is commissioned by ￿On￿e Arnaud Theatre Management Limited to take fLÈII responsikn.lity forthe producin& running and c105ingof all in house theatre productions for the Yvonne Arnaud Group. As a result of this commissioning. Yvonne Arnaud Theatre (Productionsl mited is able to claim theatre production tax relief from HMRC. The corporation tax credit in respett of the theatre pr¢xlurtion tax relief claim for the year ended 31 March 2024 ts £93.85012023'. £170,210). 13. Net intome ndi￿re for ihe ear 2024 2023 This 15 stated after char8ir£ the fcAlowin8: Depreciation ol tangible fsxed assets Loss on disposal OF fixed assets Auditors, remuneration - group Auditors. remuneration- other se￿￿e5 C*erating lease5- rent Staff costs {r￿)le 141 144.125 369 149,487 177 24,040 23,700 11,31xil 43.751 1,632,424 49.905 1,670.766 14. Staff fosts trustee rernunerallon and ex nses and th mana ement ersonnel 2024 2023 Wage5 and salaries Social security cost5 oiher pens•)n Costs 1,531,460 103.837 35.469 1,670,766 1,498.605 96,580 37,239 1.632,424 The amount for wagès and salaries of cast, musioans, stage management and casual staff included above was £472,65812023.' £540,993). induswe of s¢xial security Costs. Such persons are not employed on a regular basis throughojt thè year and do not appear in the staff numbers table Inotè 151. No compulsory redundanc￿ were made in the year. One employee received emoluments in the range £70,rxii to £80.C(KJ and one employee recetved emoluments in the ran8e £80,IXII to £￿,(￿￿1 duringthe year12023'. one employee received emoluments in the range £70.1XJl to £80,C(KJ and one employee received emoluments in the range £80.(X)I to £90.IX)01. Pension contributions of £16.58212023'. £16.2991 were made on behalf of the hi8her paid employees. Page 29 YVONNE ARNAUD THEATRE TRVST GROUP Notes to the Accounts for the Year Ended 31 Mafch 2024 14. stsff cos trustee remuneratlon and ex ses and the costof k man ement onnel continued None of the trustees received any remuneration or expenses duringthe current or previous years. in their role as trustees. The key management personnel of the group comprise the tnjstees, the Theatre Dirertor and Chief Executive, the Director of Finance. the Directof of Markeiin8 and Customer Experience and the Director of Developmènt. The total remuneration of the key man3gement personnel of the charity was £314.601 12023-. £271.6691. 15. Staff numbers The average monthly numbèr of pèrsons employed under contracts of service by the group during the year, excluding cast. musician5 and Stage management was as follows". 2024 2023 No Mana8ernent and administrath)n lx office and front of l¥)u5e Production Creative learni Caterin8 14 13 34 16. Penslon costs Since I. July 2014. emplctyees of the theatre have either recetved a ¢ontribut¥on into 3 pre-existing personal ppnsion Scheme as agreed in their contract of employment ￿ an auto enrolment pension scheme that complies with government le8islation. The theatre has incurred total pension contribution costs in the year amounting to £35.469 12023". £37.2391. This cost represented payments to defined contribution pension schemes fty f(mi-two employees12023. thirty-sixl. At the year-end a balance of £6.68212023.. £5.7481 was due to the pension providerl. 17. Government Grants Income from government grants comprises performance related grant5 made by the local authority to fund the artistic and theatriol pr￿rarnme of Yvonne Arnaud Theatre Management limited. See note 18 for more information. 18. Related tranurtions The group enjoys a close working relationship with Guildfold Borough Council and received funding of £236.5CNJ12023.. £273.LLKJI to enable the gfOUP to carry out rt5 obJectNe5. The Council has the right to nominate ttsp to two trustees. All the funding was received to provide services and has beer¢ included in the financial statements under incoming resources from charitable activities. Trustees made uncondrtional donations to the Theatre Trust totallinB £2.03312023'. £6931 in the year. Pag¢ 30 YVONNE ARNAUD THEATRE TRvsf GROUP Notes to the Accounts for the Yeai EThled 31 March 2024 18. Related tran5artions contlnued In the year ended 2024. one of the Trustees, Mr Peter Gordon. was paid £I8,C￿(2023'. £18,OCQI for his role in the Yvonne Arnaud Theatre Management Limited pantomime, Cinderella. This payment was calculated and matle on nomial commercial term5. 19. Investments Yvonne An)aud Theatre Trust has produced consolidated accounts to include the results of Yvonne Arnaud Theatre Management Limited la cmpany limited by guarantee) and its subsidiarie5. Yvonne Arnaud Theatre Trust ha5 effective control over Yvonne Arnaud Theatre Management Limiied. Yvonne Arnaud Theatre Managemeni ￿mited holds ICKN of the ordinary share capttal of its subsidiaries listed below, all of which are regisiered in England and Wales. Charity nurnber Company number Yvonne Arnaud Theatre Management lirnited Yvonne Arnaud Theatre (Cateri￿> Limited Y¥onne Arnaud Theatre IProduct40nsl tirnited 238436 814453 847430 1925822 The summary financial performance of the indNKlual subsidiaries is shown below. Yvonne Amaud Theatre Management Llmited Yv¢)nne aud Theatre Icatefi4yI Umited y¥￿ne Arnaud Theatre IProductlonsl Lirnited Total intomt Total expenditure c0rwratl￿ Tax Results lor the year 5,440.258 14.747,7751 595.820 1599,2601 410.127 1503,9771 93,850 692,483 13,4401 The assets and liats"lities of the subsidiary were.. Fixed assets Current assets Current liabilities Total net a55et5 344.925 1.610,015 1975.4491 979,491 34,827 124.591 1101.7981 57.620 120,252 194.5711 25,681 Aggwate share capmtal and reserves 979,491 57,620 25,681 Pa8e31 YVONNE ARNAUD THEATRE TRUST GROUP Notes to the Accounts the Year Ended 31 March 2024 20. Tan Ible flxed a￿ets-GroU premlses equlpment Total Cost: At l April 2023 Additions Disposals At 31 March 2024 1.467.054 242,155 11.8431 1,707.366 419,116 23.850 127,3021 415.664 52,245 3.634 15.0381 90.841 1,938,415 269,639 134,1831 2.173,871 Deweciaiion: At l April 2023 Charge for the year Depreciation on dISkK￿LS At 31 March 2024 921.4fAI 123.853 11.4741 1,043,839 394.385 12.413 127,3021 379.496 36,299 7,859 15,0381 39.120 1,352.144 144,125 133,8141 1,462,455 Net I￿k¥al￿e. At 31 March 2024 663.527 36,168 11.721 711,416 At 31 March 2023 545,594 24.731 15,946 586,271 21. Tan ble fixed as5ets-Ch Long tern) Refurbishment leasehold olect propertie5 work in progress {theatYe} (theatre) Theatre equipment Total Cost: At l AprFI 2023 Additions Disposa15 At 31 March 2024 217.217 58,948 276,165 242,155 242.155 217.217 242.155 518,320 D￿re￿atIon. At l April 2023 Charge for the yeaf Depreciation on diwjsals At 31 March 2024 125.533 2.172 58.947 184,480 2,172 127.705 58,947 186.652 Net book value: At 31 March 2024 89.512 242.155 331.668 At 31 March 2023 91.684 91.685 Page 32 YVONNE ARNAUD THEATRE TRusf GROUP Notes to the Accounts for the Year Ended 31 March 2024 22. Stock Gmup 2024 Gro 1023 Charity 2024 Charity iozj Food and drink Dry goodslotsposables 12.958 1,197 14,155 9.878 i.L%i 10,939 The amthjnt of stock reccgnised as an expense during the year was £149.13212023.' £119.0521. 23. Debtors Grg 2024 Group 2023 Charity 2014 Charlty 2023 Trade debtors Taxatton recoverab Yvonne Arnaud T￿atre Management Limiied Other debtors 72.368 113.357 11.317 172.645 6.380 2,435 21,425 672 967 P￿payMentS and accrued income 403.305 589,702 147.805 332,734 42.047 48,427 26.306 50,166 24. Cash Of the cash b31ances held at 31° March. £469.29412023= £463,716) is for a¢fvance ticket sales in relation to future shows. These amounts are held on behalf of thtrd partiès. 25. Cftdltors: amounts falll due ¥Athln one Group 1024 Char￿¥ 2024 Charky 2023 2013 Trade creditors Advanced bookings Yvonne Arnaud Theatre Managen*nt Ltd Other taxe5 and sc￿131 security Other credrtors Accruals and deferred incorr 160.331 469,294 81,082 463,716 104.018 46.840 51.215 539.986 1.267.666 42.704 105.214 316.582 i.C()9.298 254.033 358.051 40,449 40,449 Page 33 YVOI4NE ARNAUD THEATRE TRUST GROUP Notes to the Accounts for the Year Ended 31 March 2024 26. Deferred incorne 2024 2023 Openirg balance at l April Amounts deferred in year Amount release(I to i*Koming resources Closing balance at 31 March 476.260 481,228 1476.2601 481,228 378,49) 476.2fK) 1378,4901 476,2fLI Defjer￿d income includes b)x office income in advan￿. and grants which the donor has specified must be used in flrture accounting periods. 27. Recondllatlon of Movement Sn lotal lunds- Unrestrlrted funds UnfestTlcted F￿￿$. Grou (harkaNe tradlng arlslry on funds Mnsolldatlon BrLwht forward at l Aprbl 2023 lrtomin8 Resources (kJt8oin8 Resources TTansfefs Carried forward at 31 Mar¢h 2024 674.225 4.125.399 14.122.935) 30,983 S9S,820 14SJ.8991 99.995 805,203 4.721,219 14,583,834) 676,689 165,904 99.995 942,588 27. Rttondllatlm of Mo¥emeni In total fvnds- Unrestrlrted l￿d5 Un￿tIk*ed Furth. Ch Con￿nYed 2024 aHrftable 2023 tharltablè fvnds Brought forward at l Apfil Incoming Resources C*Jtgo+ng Resour￿5 Tran51ef5 Carried forward at 31 March 604,558 304,244 1168,0711 519,761 2￿,243 189,5721 125,8741 604.558 740.731 A transfei of £nil 12023.. £25.8741 was made in the year to the designated caprtal projert fund. This amount is makin8 a further contribution towards the theatre's fundraising targets. to allow essential copital improvements to the building to help wjth the repair5 and improvements to accessibility. Total unrestritted funds reflected in the consolidated OCC￿Jnts include a reserve arising on consolidation of £99,995. Pa8e 34 YVONNE ARNAUD ThEATRE TRUST GROUP Notes to the Accounts for the Year Ernled 31 Marth 2024 28. R ndll Mov t In total fvnds- i)e51 ted fvnd5 Funds- G Theatre D5mmèr Aood Produrtbon Stage siywt Ibghting Exce5S Fund Tech & Fund $￿eM Fund fvnd Capttal Pfoject Total Bro￿ht fon¥ard at l April 2023 IrKoming Resources C*Jtgoing Re30urces Transfers Carried forward at 31 Marth 2024 1.010,099 68.S13 IrAi.￿)) s￿.(*)) 298.27S 1.057.113 57,855 3.034,(N)o 57.855 113,7021 151X1,￿)I 2,578,153 113.7021 125.775 1.135,874 (Sc￿,(￿1)1 1125.7751 172,5th1 1,114,968 54,811 I￿.4xX7 Desl Mted Funds. Cha Thèatrn Dlmffler FI(￿d Produrtk>n Stage l*htw¥ Exce55 Fund Tech & Fund Caphal Prniert Fur Total Bro￿ forward at i April 2023 Incoming Re￿)UrCeS ¢lJt80inB Resources Transfers Carried forward at 31 Mafch 2024 1,010,099 68.513 51x1.O￿ 125.775 1,057,113 57.855 2.861.5¢)0 57.855 1513,7021 113.7021 125.775 1,135.874 54,811 I￿,1¥￿) 1125,7751 1,114,968 2.405.693 The Theatre SLbPPOrt fund was created using the net proceeds from the VAT refunds in the year to April 2(K19. Funds will be transferred to Yvonnè Amaud Theatre Management Limited. as necessary. to fulfil the business plan in accordance wrth the orgartiutions. ¢haritsble purposes. The dimmer lighting system fund was created in the year ended 5 April 2018 from several unrestricted legacies received in that and the following year to help fund the replacement cost of the dimmer lighting system. The projert was undertaken in summer 2018 and Costs incurred have been capitalised and will be depreciated over a ten year period. Funds from this destgnated reserve will be amortised over the same ten year period. A desi8nated w¢)duction fund of £500k was created in the year to S April 2019 to enable the new Theatre Director and Chief £xecut¥vÈ the abiltty to start produong and touring the theatre'5 own productions. The￿ is a signTrficant demand for good quality drama on the national touring circuit and a lack of produrt. Producing our own work will enable the iheatre to develop its aLsdience by providin8 high qualrty drama and maximise the investment in the work through touring the work to other venues. Although a stron8 produrtion can improve financial performance, there 15 a greater level of risk and need for initial investment. This fund will allow prodyciion opportunities to be explored. Dursng the year. the Board appfoved that thèse fund5 shoul(1 be made restricted and then tranSfer￿d to the Management companv to be held direLtly by them. Page 35 YVONNE ARNAUD THEATRE TRusf GROUP Notes to the Accounts for the Year Ended 31 March 2024 28. Recondllatlon of Mt)vement Sn total funds- Des nated funds continued The flood excess fund was approved and created by the trustees to ensure that refurbishment costs In the event of a flood, not covered by the theatre's insurance policy. could be met. The theatre's ins¢Jrance policy no longer provides cover for any flo￿1 damage ¢05ts. The Stage Tech and IT des4gnation ha5 Put fund5 of £172,51X) asKle for the costs associated with the replacement of the the¥tre's counterweight flying system. The balance of funds is provided for ihe replacement of the computef servers and general upgrade of the IT equipment held. During the yèar, the Board approved that the funds held for genefal IT upgrades should be moved to the destgnated theatre support fund. The trvstees have continueil their reviews of the buildin& repairs required and access issues. Plans have been drawn up for the necessary capital Wofks and planning permission for phase one of the project has been received. The designated cawtal project fund continues to raise the reserves needed to undertake these improvements. 29. con IlatF(bn Mtr4eme*)t In total funds- Crt¥th* O¢kr r4b BrLK*8hi forwa￿ ai i Wil 2023 IrKomin8 Resources (kngc4'n8 Resources Transfers lorwardat 31 March X124 136.% 195.699 1153.2341 IloJX)I 51ml 142J87 304.766 15,456 15.05Q 121,7981 754 346.&12 516,015 15LI]1 1185,7321 178,970 t10.fm %YJ.(KYJ 447.653 8.7 754 1,176,885 Restrkted F¥rth. (h•rtty i*mn ￿r Proprt learnv￿ restricted Fur rot•l 8rou8ht forward ar i coming Resources Ouwing Reswrces Cal￿d forn•rd at 31 ￿24 136.Y)5 5L(IXI 142.887 31M.766 14A56 754 346,(X)2 304,766 1162,3151 488,453 113&5051 114,8561 17541 447,653 Page 36 YVONNE ARNAUD THEATIIE TRUST GROUP Notes to the Accounts for the Yeaw Ended 31 March 2024 29. Re¢ondllatlon of Movement In trf•l fvnds- Restrirted funds ¢ontinued The theatre started a building restoration fund in September 2C(J7. All proceeds are being used directly for the increasing number of ￿en￿atIOn projects required to keep the building in a good state of repair. Durine the year. the trustees approved the transfer of thèse restricted funds to the Management company, who take responsibility for the routine repairs to the theatre building. The sum of £195,699 12023.. £145.3031 has been raised during the year with £153.23412023". £82,452) being used to cover the depreciation charge on capitalised costs of maintenance projects and maintÈnancÈ works undèrtaken during the year. Three restricted donations were received from Charitable Trusts to be used towards the renewal of the Theatre's dimmer stage lighting system. The project was completed in summer 2018 with costs tapitali5ed and ￿Ing depveciated over a ten year period. Restrirted funds received towards this project are being amortised over the same ten year period. A £25.(XKJ donation was receNed in the year to 5 April 2019 from the Alchemy Foundation. These funds are to be used for future work wrth young disadvantaged people who would not otherwise be able to participate in such opportunities. A transfer of £6.57612023.. £6.3611 was made in thè year to cover the Costs of ticket5 provided lor young carers in the Guildford area to attend the opening night of the Christmas produttion of Cinderello and tofund bursary placeson holiday workshops delivered by Creative Learning. D¢Jring the year. the balance of Alchemy funds was transferred from Trust to the Management company ènd combined with other creative learning grant support. Funds of £15.05012023". £21.6C(Jl were received in the year to contribute towards the costs of the Creattve Learning programme. Further details of the funders and activity undertaken is provided in note 8 to the accounts. Funds of £304.76612023.. £15.1371 were received in the year from Charitable Trusts and private donors, contributing towards the capital project campaign. Further details of the funders is provided in note 4 to the accounts. 30. Ana 2024 Duignated 8estrlrted t￿￿$ Tota Tangible fixed asset5 Current assets Cash at bank and in hand Cu¥rent liabilities 711,416 711.416 603,860 4,650,019 11,267.6671 4,697,628 894,981 2.578.153 1.176,885 11.267,6671 942.59) 2.578,153 1.176,885 Page 37 YVONNE ARNAUD THEATRE TRUST GROUP Notes to the Accounts fty the Year Ended 31 March 2024 30. Anal Sis of nel J55ets between fund5 ontinued 2013 Gerthl O*nated Re51fkted fvnds Total Tangible fixed assets Current assets 586.271 343,673 884,557 3.034,IMJ 11.C¥J9,2981 805,203 3,034,1 586.271 343.673 4,265,159 11.009,2981 4,185,805 Cash at bank and in hand cUr￿￿t li3bilitses 346,602 346,602 31. Commltments under o leas At 31 March 2024. the 8roup had no ¢ommrtments under non-cancellable opeiatin81è3ses. The amount of non-cancellable operating lease payments made by the group and recogni5ed as an expense in the year was £49,90512023". £43,751). 32. Reconcillation of net movement in funds to net ush flow frtr ratln artlvlties Gmup 2024 Charlty 2024 Charlty 1023 2023 movement in funtls Add back depreciation Add back10ss on dispjsal ol fixed assets Add b￿k repayment of CBILS loar¢ Deduct interest income shown i inve5tln8 activities Ilncreaselltkcrease in st￿k llncreasel1￿reast in debtors Ilncrea5ellt*rea5e in gft aid IlncreasellDecrease in VAT re(overaWe (Increasell￿re8S￿ in COr￿ratiOn tax ncreasellDecreasel in creditiys 511,821 144.125 369 1191.4CA)I 149,487 177 224.OLK) 1177,2231 2.172 147.874 2,172 1150,5071 13.2161 1315,0291 13.5251 114.7741 76,360 258.368 503,992 150.1071 1.028 259,488 2.994 1148,1111 149.7331 4.037 12,2981 9,030 1,544 116.0921 1553.5591 1173.9841 317,602 13.8211 5,628 116,515 Page.38 YVONNE ARNAUD THEATRE TRLIST GROUP Notes to the Accounts for the Year Ended 31 Mar¢h 2024 33. Post.Balan¢e Sheet E¥ents The Board undertook a review of the govemance of the theatre group in the year to March 2024. A decision was taken to iegister the charitable unincorporated Yvonne Arnaud Theatre Trtsst as an incorporated charity limited by guarantee. The objects of the incorporated Yvonne Arnaud Theatre Trust remain unchanged - to a¢Jvante the arts for public benefit through the provision. maintenance and support of the Yvonne Arnaud Theatre. The limited by 8uarantee company was registered with Companies House on 2151 February 2024 (company number- 155104621 and received Charity Commission approval with effert from 30 April 2024 under a r)ew charity registratron number Icharity registration.. 12080661. Incorporated Yvonne Afnaud Theatre Trusi is not set-up as a member of Yvonne Arnaud Theatre Management. An asset transfer agreement has been completed, formally transferring all assets and liabilities from the old unincorporated YAT Trust Icharity number= 2￿yK￿l to the new incorporated YAT Trust with effect from l June 2024. As mentioned in the Trustees report, 2024-25 will be dominated by the front of house capital project. Contrart¢xs havè been app¢Nnted and are due to start work inside the theatre building commencing on 22 July 2024. The programme of work is scheduled to last for 12 months. With the exception of 12 weeks in this next financial yeaf when the contractors will be given unfettered access to the theatre buildin& thetheatre will remain open throughout the Pfoiect. Incorporated YvonneArnaud Theatre Trust are taking full responsibility for the works and plan to offer grant 5UPPOrt to Yvonne Arnaud Theatre Management to help with the loss of income during the 12 dark weeks.