Company Registr3¢ion Number.. 650220 Re￿5¥ered Ch2tity Numbez= 234229 GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED (a company limited by ￿2[antee) REPORTS AND CONSOLIDATED FINANCIAL KfATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 llllllll *AOHBOZPN* 0511212024 COMPANIES HOUSE A05 *234 GLOUCESTERSHIRE EVERYE￿AN THEATRE COMPANY LIMrrED REPORTS AND FINATr4CIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 CONTENTS Page List oEofficers aod ¥d￿se£S Report oEthe Trnstee$ Report ofthe lodepend￿r Au(htor 10-12 Consolidated State￿ellt of FitiarLCA9J Activities IJ Ch*Iity Statement of FLttancid Acttviti¢s 14 Consolidated And Ch*rity Ststemeots of FinaocJ81 P0511ion 15 Consohdaied Cash Flow Stotement 16-17 Note5 to the Fillaucial St3ttments 18-33 GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED OFFICERS, COMMIThEE MEMBERS AND ADVISERS DIRECTORS/TRusfEES C R Thoma5- Chait Z AFimed J Blackbum S Blanchfield M Boikowski W E A Edwards M Ham￿. CFKong G Mjlnt G E C Woodcock J K Workman COMPANY SECREfARY J K Workman CHIEF EXECUTTVE M Goucher ADDRESS & REGISTERED OFFICE Everyman Thcattc Regent Stret Cheltettham Gloucestershire GLSO I HQ AUDITOR B K Plus Limited Chartered Cerufied Ac¢otttttint$ & St2rntory Auditor 6 Manor Park Busine55 Ccntse Mg¢keL)2ie Way CheltenhÈm .Glouce5tershLre GL519Tk' SOLICITORS BPB St Jaroes House St James Squ2re Cheltenham Gloucestershire GL50 3PR GLOUCESTERSHERE EVERYMAN THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2024 The tojstees have ple2sure in piesentitxg thetr repott and consohdated financial statenJent5 for the year ended 31 Mareh 2024, which are a]so ptepared to meet the requwements foi a dttectois. ieport and accounts For CornpaNe5 Act puq)oses. The fLnancial statements comply with the Chatities Act 2011, the Companies Act 2006 and Accounting Aod Repoiting by Chanties.. Staremeni of Recommettded Practice apphcabl¢ to chanties prepaitn8 theAt accounts in accordance with the FitiancÈal Reportitig St2ndxid applicable in the UK and Republic of Ireland (FRS102) leEft¢tive l Jaouary 2019). STRucfuRE, GOVERNANCE AND MANAGEMENr Refettnce AL7dAdmmistrAtive Del￿15 The dit¢ctors of rb¢ cbaLltable compgoy (the chantyl are its tfUSEees foi tbe PLuposes of cbajjry low afAd throughout th report attd the fittaneiai ststements 2te collectively ttfetted to as the twstees SerV￿g du￿ the year. N￿￿e¥ (>E trustees aod of the chsnry'5 ad￿Sel8 are on page l of these FuLaociaL statethent8. GovetsthgDocumefiÉ The companytr wbich is limited by Buarantee and a tcystered chanry. Is governed by its MernorHndutn and Articles of Association dated 22 Feb￿ary 1960 as aiteted by Spectsj Resolutiotts passed on 19 Maich 1964 2rLd 24 SeptembeE 2008 and a special xesolutioo oa 26 Au8USt 2021. AppoJiJtmentof fiuste¢$ Trustees ￿aY be aPpo￿ted by the chauty by orditiary iesolution or by xe501ution OF the Trustees. Tntstees serve for a peDod OE three years ai which pojnt they msy be re-elected. to 3 m2Xitnutn oEnxtxe consecutive yeaxs. Neiv ￿slee5 undeLgo orjetttation 10 brief thetll on (heir kgal obligations chaIity attd conxpally Jaw. the content of the Trlenorandum and Arudes oEA550ciation. the collllnittee atLd decAsion LD3kiag piocesses, the busitiess plan and the iecettt fitsattcial peLfoLmance of the chatiry. They a]50 undergo a tour OE thc Theatre and hAve gPPOrn]llkry to meet the senio£ rnanagemellt team and other key staff to undttstand tbe mechanics oEbow the chotiry js run. The day to day OE the Theatce LS undeEtakeo by the ChieE Executive who is supported by an expeIietL¢td team of departmental ￿%￿age[s and stxff. The Bojtd of trustees, which currendy numbers I I, admjnjsrers rhe chanry. They include fDembers ivirb a ￿rya¢ of pIgfe5EioxJal LxpettÈse, exwietL¢e 2nd Iocgj knowledge. The Boatd and the C0[nr￿ttet8 cegpoosible for fittance artd cAreLing meet quaiietly. In adthuon. there are two ad￿SOry boards cO￿priS Board membexs, 5raff aod ￿ternal advisors. One fo£uses on stsategy #nd deliveiiog 2g#in$r the Alt8 Counal'8 Outcotne5 and Inve$L￿ent Ptinciples, and the second focuses orA development and fwid raising. The advisozy bosrds 2150 meet quartedy. The Chief Exectstive bos deleg4t¢d authonty, Iwthin tertns authon$ed by the tnistees, for operAtional llkArtets inclt)ding 5nance. etopk)Fllkenl and pIo8ramme choice. K¢yMAn¥eJyJetttPetsoJ7neJRen2uJieratson The Ttusrees consider the Boatd of Trustees. tbe Chief Executive aad the $eAior management teatD AS Cotnptisxtig the Ley per50tLAeL All T￿stee$ pve of the￿ time fitely #nd no Tn]stee remuaetyrttion was paid in the year. Det2iLs of Ttttstee ￿per￿Se8 and rdated parry trallsactions aie disclosed ￿ note 28 tts the f￿anCisI sratetnents. The pay of the Cknel Executive And senior maaagetnent team is ielryewed anrtually. The review con$￿tr$ a nLuDber ol Eaciors itidudiag the fu￿nCIal posiuoa of the Theatre. the generat infiatic>rL rate and pRy rates for sAtDil2r P05AtiOaS Otbex orgAnLsations. GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES- continued FOR THE YEAR ENDED 31 MARCH 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT- continued ReJAredPArnes The chairy bas t1￿ce wholly owned subskdiary cO￿Panies.. The Glouttsteishite EVe￿an Theatre Catejiog Compaay Limited. whose object is to provide bai #nd cateting Eacib"ties at rbe EvewatL Theatre Jn Chdtenh8￿.. The Glc>ucesretshire Everymatt Thealre Producuon5 Cotnpany Limited. whose object is tts ptoduce the pantomime arld other shows at the Everyrnan Theatre Cheltenham. Glouttstetshite Everym?n Thtatre Touang Cotnpatty tAmited. whose object 1$ to Ptoduce 3ttd tour ptoducuons. The subEidi2Ly tonipanies, tesult5 h2ve been thcluded in the conx>bd0ttd &nancial sratemenrs 88 teqll￿ed by Chsnties 5tatemeAt OE RecOtJ￿endtd Ptscuce appbcable to chantses prep2nng the￿ account5 in sccordxnce with the Financial Reporttog St8tOsrd appk'c2bLe An the UK artd Repub]ic ol Irclortd (FRS102) (¢fEecuve l January 2019). The Aris Councd England ond Cheltenham Borough Couacjl provide core ￿Trding Eor the Theatre and ir5 educ8uon ax￿ cornmunity *Cu￿￿e5. TE￿ Evewnan Theatie CbelteJ)ham Development Tru$L Wa5 estabhshed LO IA15e Funds Eoi the Everynjan Theatie and owns the Poonry Access fvletubeE5hip Sehetne, which was created ty June 2022. The Devdopment Trust is irself a r¢￿Stered charity and its ttusiees aie from the trustees of the Every￿￿￿ Theatte. skMan#￿￿2t￿t The Trustees have a tisk management Strategy wbich ctsmprise$'. qU2rtedy tevxew OE the tssLs rhe cbaoty may Eac¢, ixdudill8 a disast￿ retovety p]2n, caxried out moxe frequ¢rLdy where circum5tsnces dictate.. the estsb]ishment of systerns aod piocedutes to mitiKdte those tisks identified io the icvrw.. and the implernenrauon of procedures designed to mini￿ge atty y)tentsal iLnpact 00 the challry 5houLd tlkose tisks tnatetialise. For the year to IL fyrch 2024. the thost sjwficant Ii5K facing tb¢ bu$￿eSS was high Jnflati(>tL. which srLcrexsed opeiating costs and ieduced the pro6rabthry and avai]abJ]ity of tounii8 pioductions. Mote geneta]ly, the key risks faced by the bUs￿eSS are 3 reduction in house pio6ts due to economic facior5 or chAnwg tsstes, a reduction iti gtant xticome. pIxysxcRI th"sastets such a5 E￿e ot los$ o( power and regd2tory Co￿p11&￿te. The T￿$￿¢S ore confidellt that reasonable syste￿5 hAVt been eStab￿shed to identify aew Li5ks and to Ell1ti￿re and tD2DS8e e.￿Sting nsks. and thai fotW21d plaorthg wijl enabk the ch2llry to be pEep3red Eor futute eveutualities. These Systems ioclude.. 2 quarterly review of the risk teyster by the rnanagemellt atLd Tntstees: a foiecast of the &2ll year fLnanckal resulrs thte¢ ts￿Les A yeaI.' clost motyrotLng oEc2shflow and cash Man2￿Ment,. onitoIing of ttsenTe leve]g with ttdistribution ofgeneral attd desftgtiated xesetves where Eeqwed. 3 moorhly rtvitsv of the Gnanc￿l re%uLI% awst budget. dthtional planning rtseetitigs when teqLwed to thscuss sts[f￿g LeTAs resourtt requirenkttts.. #ppIoptiate insuiance cover, which is reviewed aonu regdaE training for staff" aod legal, HR and financLai ￿put Erom expert adviso￿ as xequired. GLOUCESTERSHIRE EVERYNWI THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2024 OBJECTIVES AND ACTtVlTIES The principal obj¢ctyve OE the cbaory ¥ccordirL8 to the Memor3ndutu of Association is to promote, x)J3intaio, ￿PE0ve aod advance education. particulady by the production oEp]2ys of an educational character 8nd the ¢ocoura8ttneDt ol the Arts, including the arr5 oEdxanJa, mime, dancing. sin￿. music 2nd poetry, aad to fo￿Thu￿te, ptepare and e5[ab￿sh appropn2te Schemes. The chanry sets out t0 2ch"Leve these objectsve5 by the of the Gloucestetshire EveLymart Thearre in Chdtenha d by the ptesentauon of roulltsg producuorls ond in-house pr<)duction5. The tharity hA$ the geaeIal aim of conttibutitig to the qua]kry o)[ hle OE the p¢ople of Chdtenhsm gnd Gbucestetsbk by ekpattth.ng tbejx honz0tt5 through the provision tsf e4citLn& ch￿en￿g gccessible ptofes$ion#l and con￿￿OilY arts events. Th¢ objecuve5 Eor the yeat contirlue to be the prornotiotL 2nd fostet￿8 of artistic knowkdge and rhe apprecJ8uon oEtht Arts by the provision OE facthtses for the educ2ti0ll 2fLd Enterta￿LMent of the PUb￿C LA tht field5 ofart, c£aEt, music and drama. with specific focu5 On the youth of our coutLty. The Strate￿eS employed to achieve the thanrfs objectives aze to.. offeK L>ppotrJniu¢% fot a bLoad range of people to get involved Jn arts acuvity exploring their own creative powe￿. piowde Faci￿tieS and &d￿ce foE amRttui and piofessional artists/ivtsiets to devdop their artistic skills. erLCoUra￿ the developtDent oE'diYeESity o£cUirL￿eS througknout the activitte5 oEthe Thegtr¢' and preseat a bioad t2KLge of aits woxk-. The ￿￿10[ areas of activiry are pxeseor8tson of profrssional sts￿ perfollllaaces and educational theatte and arts programme5. PUBLIC BENEFIT Iii planning the ch2]Xry'S aCtiirytie5 EOL the yeai. Lhe ttustees kept in Mil￿ the Cbaoty comm15s￿n.$ ￿dattce pUb￿C benefit. The Evewan Theatre pi0￿deS a wide ran￿ oF2rts and entertajnment For the popu12ti0n of Gloucestetshixe alld beyond. Many of the peifottn2nce5 this yeAtwexe aimed at famijies and c]JJdren and there were specific productions with a Strong schools. interest such85 fvIirhaelR05en's Une-wected Twist andA h,Ixd5UnUDex Nightrs Dreatn. The Annual P9atomime - th￿ year Mother G005e - proved a very popular productkon Foi Khool ￿0uP5 and Eamijies thtoughout the county. The thestre wdcoEoed the OE tbe Ukrainian Nauonal Opera, as well as presentill8 ballet. dratna. musicals and comedy. Starting in Cbelrertham and theo touxlng throughout the UK the Everymarl co-produced 'The Full Jlonty" WLth the Bwxton Operg House ￿ 2ssouation with Ll(3ik Gouchei and David Pugh. In the SNdJ"o The8rre we commi5$10ned A atw series of plays to coJntnemoLate the King's corooatioA'. 'The Crown aod the Cotswolds". wtitten by local wtirers aod perFtsrtned by profe55ion81 alld conunuaity peLfomieLs. The theatte continued its pobcy oEtnabliag tiiosc who Ire les$ able to pay to attend the Everytnao-under 16$ and ove 60s were all offered concessions. Reduced ptice patttomin)e tickets were made available (o broaderl the regch OF those who could attertd. We weie able to offer free patttomJJn¢ ucLets to tKvo I￿al schoo15 frollL an aiea oEhigh deptivatton. To develop futute Audiences. we have 2 membeLslu"p schetrle offe0￿ ftee tickets to 16 to 25 year olds. Access w35 offered to memEtts of the pubbc Jn ivheelchair$ and there ks an induction loop fot tbe deaf and hatd of heating. There are regujax sigmed, captioned #udio-destnbed pe[E0￿[L￿nCeS. attd touch tOL￿s. In adthtiorl. the mai house p3ntOllJittLe #nd both Studio Christt))as shoivs noiv have 2noual"r¢]&Yed" performances. Tbe education and conwouwty ream continued io oEfeE an e.Ytensive range of courses aod workshop$ for IocRi actors, wnieis, ciyjdren and yollrlg people and comtnumty youps. 25 well as deliveung cbalLeDwg and dtvelopmental wotk the Studio Theatie. GLOVCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 MARCH 2024 EDUCATION AND COhIMUNITY PROGRAMME Ou¢ Youth Theatte youp5 continued to flourish undeE the gwd3nee ofow Youtb Theatre M¥n8g¢r god a llutnbei of freelartce ptactitionets. The groups met weekly at Si Edwards School ia Chadton and also at the Stagedoot tKarnJng premLses ￿ Laasdown. Aew gtoup for young d%ocers "Everymoire" was established. Ivlu'ch wothed alollgs￿e the Youth Theatre. The Youth Theatre youps presented 2 sene8 of 8lxort plays in the Smtho Theatre. Aw. we piesenttd two suntsneE schoc>ls-. Junior Strner School (for ag￿ up t(> 11. whieh focused on a pioductiott ol "Seussical Kids", and Senior Swywier School (ages 13-20), which culminated io a producuoo OE 8 spccially ivnttea tnusitsl'salr" on the Everyman's maia s￿ge. Re8u]at workshop5 for refi]8ee corr￿￿t￿tieS were offered Ati collabotation with CbeltenEIa￿ Welcotlle$ Re￿get$. kd by the Everym¥Ltt'S Comnjuniry Atts fvtan2ger. We aLso coThtiou¢d our Jntei-geneiational work witb WerAtworih Caxe Home SXLd H¢ster's WAY PiittJ2Ly School. Once again we supported over fify young people on their Arts Awaid joutney, often as pari of a project or production. Our woEk vnth the Rock youth pIoject (with th"sa6fecied youngsters) yiclded 2 nuuLber of Aits AwAids. Takewise, fjbied preseotarion with studeats ftots the Nationalstarcollege (young people with disat>ihrie5) culTrinated io A nutnber of the palticipartts wg.4rts Awards. Ow ditsce dasses for matvre daocer5- Golden5tep - ¢xpanded thtee gtoups. Oux cOmmu￿ry choirs contynued to ew8e appEoYllnately 150 singers who participated Ati [eheaIs￿s, sinyg wotkshops and perform2nce5 oveE the coutst OE the year. The choLrs perfotmed thtee public conceits, Anduding a vatiety show 00 the Everyman's m2 sts8e. whith also featured a Aumbet 06profession2L vatiery acts. Clwstroas shoivs ￿ the SwdLO Theatre this yeaK we£e..'The Ugly Duckling" for pre-school ?udiencts and the ever- popular "A Cknisttnas Caiol" foL LDOte marure au6iences. These iver¢ offered 25 an alrern2tive to the moiti house pantottume. Four proEes$Lon21 actots 2nd a Siage wett employed for these shows. 'Ihe Ugly Duck]io¢' was vestseamed ro chlldxen's ivard5 Jn h05Pit21s ￿ Gloucestei, WoIcester, HeieEoid, BtistoL BA￿1nghaM and Lt¢d5. ACHIEVEMENTS AND PERFORMANCE By sta￿g hjgh quality and vatied petfotttJ2nces, 2nd cteating a WLde-reach￿g Education and Couunuoity prowfflme, the Tbeatre met its filndamenral taxgets ill tecEn5 of quality And pub]ie inyolvement. Kve had a difficult start to 2023/24. as two shows cance]Led tELeit touxs leaving us with Éwo dadE weeks on top of two planned mairttenance weeks plus one week we were unable to fjll. There h2ve been fewer tOUJXti8 shows since the pandemic due to hlgher costs 2nd a lower denjand for classic pLays. Howevex. musicals and some ofthc w¢ll-known tides hAve been perfom)Jng better thao ever. APJJI aod Mgy saw the retum of The Rocky Hoticir Show, Blood Brothers, and The Mouseixap. which sll sold ou¢ while Take That's Gtearest Days aad The Bodyguard peifonned sithiiady we]L boosted the quiet summei Iveeks. Ve sraged a Vaoery Night with our Every￿2￿ ChoAts in Jvly and r8L5ed about £15k for the school irl the &exr2 l£one The autumn Ancluded strong sales for our co-producuon of The Full hIottty. two weeks oEStstei Att and Twelve AngLy fvIen. This yea¥s ￿-boU8e patttomime was Ivlother G005e, which xeceLved glowjng relryews both oauonally 2nd locally* including being the Stage's top panio>Dimes in cowitry. alld achieved the theAtte's IWie$t evei audience Dumber5 2nd tLckei Inco￿¢. w2tched by 48,374 2duLts. childtett attd families. By tkns st9￿ Jn the yeaE. the diEficult opening Motsd￿ ivere fLm)ly behind us and we a sttong fts￿[ quarter with S￿. Noises Off. Giov9nrJi and Shrek. In Match. vAe op¢Aed (>ur in-house pioductioa of A MidsumllLei NL 18ht's Dregm. and rake ￿¢￿t pnde ￿ the high quality of show and the ambiuott it demonstrated. GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES - cooixnued FOR THE YEAJi ENDED 31 MARCH 2024 The numbex of perFom)3nces presenied in the Main Auth"loJiu￿ and Studio was 530 12022/23.. 5451 wxth attendgttces rotailLag 201,445,12022123.. 196.633). Vhen Education 3Ad collllnu￿ty courses. piojects attd perfottnances aLe added, the total attendxnces for the year were 222.98212022/23.. 215.430. SponsorS￿"P and chantsbk dorlauons re￿A￿ an llnportAllt part of the Theatte'$ xncoTne. The Evetyman is p¥tricu12xIy grateful to it5 t￿anY sponsors, in particula* the Arts Councd E￿]Ind 2nd cbdttnha￿ Borough Council Eoz theAt continued support. FINANCIAL REVTEW The conso]Jdated re$ult5 of the chanty and Lt5 operatsng subsLdiatie$ for the Teal aie set out on page 13. The kck oEtouritl8 product. csncelled producuons. And high rate oEinft]ation created coasidexable fioaocial pr¢s5ure Jn . tbe ye21. However, we benefitted from the successful prw8mM￿g of a nutnber of lar￿ and popul￿ shows, Ln¢luLtitig our highest-gr08s￿g pantotnime, and we recexved a genextsus bequesi from Lady Marychllrch OE £45.645. As a result, we mxde a suLplus of £350,608. T￿"5 5Utplw will be used to hdp the chanty gehieve its objectives, as detailed in the Reserves section. The period cOve￿d by the C￿reAl Arts Council Englartd 8fant ha5 been ￿tended to April 2026. 2nd an Axjnual funding &gree￿ent with Cheltetthattx Borougb Council is iti place. jJJv¢$thie￿¢F0Wc￿$ ktsdPobcy The trustees have wide investrnent powers and rllay exercise aiL powers of the subject to the cl￿￿ty's cbatitable objective srated above. Rese￿e$ Pobcy The Trustees sttive to SLtike a balOAce bernveen rnamt#Jfjmg reserves to ensure the continwty of operations. support the objectsve5 ofthe chanty, arld to m9llLt3ia the Glade II listed buildingivltbin which it operntes. 11¢ outbrtsk of COVtD-19 iequited a review of the reserves PO￿(y. and io 2020 fuds weEe redirected EIollL longer ierm aspirauLltsS ood ￿&S ¢sseotial plans.. £300.0(M) set gsldc toivatds a new SNdio The)tie." £150,OC4) of the major allLtensnce Fund,. £200,(K)O OE tht iethbisEunent fund. £188,OC() of the Jn-house productions & rours ￿lld.. And £26,000 of communjry project5 fL￿d were ttsnsfelled to the continuity ￿nd, to cteate a contiA)geocy to help rbe tbearze withstand the trjtbulence being caused by Cowid. Our a5pirauon was to rebuild the depkted de5yated re5erYes back to their 2018119 level over the llext five years, alld the 8Utplus made Ati 2023124 has heLped us aciu.eve that. Hav￿£ rebuJLt the deswted re$effts. the Tnjstees ieshaped tbe &'stLibution between ￿lld$ in tix year to 5LlPPOrt their vision Eor the ttext Eew yeats.. The ba]ance the Contitiuiry & Excepuonsl Circurn$tsnces Fund has beeo kept at £950,000. The Euad would coyei t￿￿e [l￿nthS of cornttlltted expeAd1tL￿t allowing the Tiyeatxe to Mainta￿ operauoos ¥nd meet Jt5 Obli￿￿0￿3 if ceptional cllcutnstattce caused o suddenloss of incorne. This ￿ndWill be revieived regLfjady to ensute itis tnaititaitied at tbis targeted levd. GLOUCESTERSHIRE EVERYTrWI THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES- cotstinued FOR THE YEAR ENDED 31 MARCH 2024 Resents Pojicy-cotttsnued The MzjoE M2Jnienance Fund w35 ￿CZeaSed by £350,000 in the yeAr to £5CIJ,000. This involved a transfer oE£186.395 from the Refurbtshment fund, £3,036 fiom the In-Hou% Ptoductitrlls & Tours And £160,569 fiom urtdesxgnated fi]nds. The ￿l￿tenAnCe and re[￿biShment fun& were combitied as there s an elemellt oEctossover bEtweea the two. The twstees have identsfied 2 schedule of £1,400.000 of IeqU￿ed Kvoiks ovei the Lmt IO+ years whicb WLU be deb"vered rolling program￿t. based on key prioiities. Duritig 2024/25 the Front of Housewjndows and conditiotiitig utiits aLE LU)derg¢>ing tepoir and replacemcnt to st2it oFEtbis plan. The objectiveis to incte?se the level01t￿"S Eund io £850.0(K) over the oext 5 ye￿$ to ensute all business-criucai assets undergo a thoEou8h rewew (otber exatnpks include the scene dock JiFt, the rooE2nd the boilers). The fuod for In-House Pwduttions & To￿$ was cieated ro supporr oux m-house and co-production wod4 due to the Attherent &nancigJ Jisk involved iti such pzoje£t$. The fund has been reduced to £65,000 foi the ycai 2024125 ro rtEiect the Iwver levd oEn5k faced ￿ the year. as ive #ie not producing a oatiooal tour ￿-house. Duno8 the ye2r 2023/24 the covettd the loss mode on our national tour of A mldsuth￿er Niglxt's Dream of £83k and recaved income fxom 'our co-productions ofThe FuiL Monty aod My Beauufui Laulldr¢tt¢. A Grtsve Street Fund w#s eteated in the year with a £400,000 tiznsfer frotn undegignated reserves which itiduded a 8tnerou5 £45.645 bequest Fiom Lady june Matychutch. A key element OE our strate8y is to e¥and our provision of work tb¢ cortttnumry. Thi5 fund wjl help u$ purchase a property ix) Gmve Sttttt, Che)iettbarn 2024125 to meet thi5 objective, toTr¢i the basic tuntiing cosrs (or the fixsi year (items such as utilities. Jnsurante 2nd security), and the capital and revenue Euodr2ls￿gLlt￿PlV th2tis pI2J￿ed, with ts taiget of SeCuru￿ £lm to cover the purcbas¢. CAPLtal tefutbAslJment, and J-5 yexrs, costs. The Commuoity Projects Fund has been kept at £l35.000. This iesenTe will help ro ￿nd piojects aod tbe productiolk ofptays which encourage loca] people 10 engage the azts. ITh 2024/25 tbis wxil itidude a collaboxation with local orga￿satiO￿￿ to produce 2 play celebiating Gustav Holst ￿1￿8 commuttity 2Ctors. TtAthngsubsidiAnes The Gloucestetshite EverymAn Theatxe Catetiftg Compooy Li￿￿ted enjoyed a 23/0 Jikcre&5e Jn sales over the pievious y¢2r. benefiting frc>rn the high Audience numbeis duting the year. It also improved its gr05s marw petfornance Eco 70.V/o to 71 00/0. Thete was bigh wage and cost moation dunng the year. but the bussttess ntsnAged to tetaxft most o thc 6nancial benefit of those additionat sRLes. gelleiat￿g a profit lor tbe year of £13,827 wiu.ch it donated to the d￿￿tte (2022/23.. £10,860). During tbe year, tbe Gloucestersbiie Everym?n Thearre Produttioos Compktty Ltd produced Mother Goose in rhe Maw AuditoriutIL' S 5tties of plAyS tntitledThe Ciown & The Cotsv/olds Ltt the Studio The2tr¢' a tour oEGloucester5hite libIaties with Rocky and Jazz Make Some No￿e for the Education 2nd Cotnfflunity dep31tment' arLd the ChrisÉma5 Shows The U8ly Ducklitig and A Chtisttnxs Carol in the Studio Thtatxe The Gove¢oment rerairled the WAcrea$ed rates of Theatte Tax Re￿tf that had been bxought in to hdp the sector 3£ter the Coiryd pandetnic on the sector, and this greaLiy benefittrd the cotupanyj enabliELg it to donate £174,148 {2022123.. £144,622) to the theatre. The Gloucestershire Ei'eryrnanTheatre ToutLngCornpany Ltd produced A JlidsvmmeL Night's Dream dutyng the yea4 which touied natiottauy afiei yearend. Unfortunardy. de5P¢tc grest succ¢ss and kngh sales ￿ Cheltenham the productiott did oot lore as w¢ll At othei venues. As a trsult, the theatse Lnade a wnte down of £84,659 in the yeat to recowe the antiupated 105s by its subsidiary at the end of the tour GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED REPORT OF THE TRUSTEES- continued FOR THE YEAR ENDED 31 MARCH 2024 PLANS FOR FUTURE PEIUODS The majoi focus conuoues 10 be achieving a dj'stinctive, high_quahtir cb2£ACter Jn the Everymin's P￿EArn￿e, AttEacting st¢Qn8 WSitin8 productions and pioducin8 kngh-profile ivoik in-house and for toullng. To address the usk of gaps in the schedule from a lack of anilable pioduct and the tisk olteduced authence Aunjbers due to iothtionary pre55ure5, reviews of the bu5iaess Trvill contiaue to take p]ace to ensute any necessatrj cbanges are ALnplemented quickly. In acknowledgement of the tuuent IAtk of touritig productions, the Ewan opened a production OE'A bfidswnmer Njght's Dxeam" in IL larch 2024 to iour veoues #row￿ the country Lll Aptil May 2024. to provide an accessxble and eaioyable pIoducuon of Shakespesie, toured to Venues around the covntry. Itl Oetober 2024, the Everyn)att purchased a property ts) Grove Stteer. Cheltenharll io order to ex￿ad our Edutatiott & tea[￿ to deliyer wo& ￿ the touununity. Beyond that. the EveryrD2n 15 lookiDg to establish 3 flexible, multi-pU￿o5e base in Gloucester,w]M"cb will acr as a cxe¥tyve bub for perEoro)ing arts oFaU shape5. sizes aod forms Jn the Ciry, llxeeting the needs of as tttany locaL ￿0uPS as possible. It will 2Lso gct as # base OE opeiations Fot * dedicated Educauon and col)￿]￿￿lry Team to Eeach out acEoss Gloucestei to schoo15 And co[nmU￿ty youps and build the ielationships alLtady being foiged in the City. In tollclusiort the BoArd would ]tke to L%pies5 Xts appreciation to rhe Theatre's Ch￿f Eyecutsve. MadE Goucher. the rnanaryent teAllL All the 5tsfE. Eoi the￿ haid wodt coll￿nitr￿ent wlll'ch 2023/24 such a sausfying gAd iewarding yeat foi out audiences and p3rtoers. POST BALANCE SHEET EVENT Details of ptssi balance sheet events ate gxven In note 29 to the &uncial sratemeots. TRUSTEES. RESPONSIBILITIES IN RE￿TION TO THE FINANCIAL STATEMENrs The pwose OE thk's StatetDent is to distitLgwsh tlxe iLiisiees' Lesponsibthties in relauoa to fJnaocA21 sratemetsts grtd accountitig iecoId8 Etosn those of tbe audLtois as stated irl their report. Chatiry and company law iequites rhe [n￿ree5 to prepare fioancial 5taternellrs fot each fillaAcisl p¢ood ￿ve a true and faix Mew of the stat¢ of affairs and ¢>E the intotiitig resources and apphcatioll of resources of tbe chanry foi that penod. In piepating those f￿ancIal statemenrs the Ltustees are requkred to.. Select suitable occountsng po]icies and then apply them ¢onsisteodT* observe the methods and pllociple5 Iti the chADry SORP.. tnake judgements and esttsnates thai ate reasonable and prudent. prepate the financial statement5 on a go￿ concern basis uoless Lt 15 ioApproptiate to assume that the will continue to operate. The rw5tees arc also responsible for keep￿8 proper actountsijg Itcoids which disclose with ttAsonable accutscy at any lime the finHllciAI posAuon of the chatyty and to en2ble them to eA5Ute that tbe t￿2￿claI statements comply with rdewant leg51Atiort. The trnstees ar¢ 0150 responsible for sAEewrding the assets OE the chRnty and hence for t2kiag reasonable steps foi dLe pEevention #od deLectiott of Etaud and other ￿regUlati￿e5 GLOUCEsfERSHIRE EVERYMAN THEATRE COMPANY LMIITED REPORT OF THE TRUSTEES - continued FOR THE YEAR ENDED 31 fvIARCH 2024 STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS So Eat as the trustees g¢e awatt, ther is no rdewant sudit ￿f0[[natiOn la$ defined by Section 418 of the Companies Act 20061 of which the chanty's au(htotS Are unawait, eHcli Irusree has raken all the steps thar he/shc ou8ht to hRve rakert as a ttt￿tee in ordet to make himselF/herself awar¢ of any reLevsnt Audit ￿E0[￿All0￿ atLd to eStRb￿sb that rhe Ch￿ity'S 2uditOf5 are Aware of that inEottDatiOn. AUDITORS Aadoitan Limited, which is now a part of BK Plus Audjt Lirnited, has been reappointed foi # tlxree-yeai temi, utttii the audit foi the ye2E to 31 MArch 2024. This ieptsIt has been ptepared iti accordance with tbe Speci￿ pEovision5 0(Part IS of the Comp#tiies Act 2C4)6 Le]atkOg to small enuues. ONBE BOARD Trustee THOMAS D2re.. ￿ No er 2024 REPORT OF THE INDEPENDENT AUDITOR TO THE MEMBERS OF GLOUCESTERSHIRE EVF.R YfvfAN TAEATRE COMPANY LIMITED OpirAxon We have 2udLted rhe financiaL 5t&tement5 of Gloucestershiie Everyman Tbcatre Company Limjred (the 'chantable company) loi the year ended 31 March 2024, which compnse the Coosolidated Statement of F￿Hn¢1￿ Activities, the Consojkdated and Charity St2tetnenrs of FirLAncial Position, the Consoldated Statement of Cash Flows and notes to the finallciai 5tAtemeots, indudjng a sommary oFsigwtxcant accountiog policies. The fuJanci21 iepotting ftameivotk that has been applied in the￿ prepsration ts Rpplicable ]aw and Unxted ￿"AgdoM ACcowit￿8 Stsndards (UnEted Geaerally Aceepted Accouoting Pracucel. In our opiniotL tbe finaaciai statements.. I'e a tme and of the state of the youp's and tht chatitable company's aff¥rs as 8¢ 31 Lmarch 2024 and OE the group's incoming resources and 2pp]&cation OE iesources, ￿aUdIng Ats mcotne and txpenditurt, for the year then ended., have been propedy prepared in accordance uryth U￿ted Kingdotn Genera]Ly Accepted Accounvng Pracuc¢' 2nd have beea prepaced in a¢¢ordanee with tbe IequiteLnent5 OE tbe Compaoies Aci 2006. Basi$ for opinion Vc conducted oui avdit in accordonct with Internation￿ Stand2rds oll Allditing (UtQ IISAS (UK)) and applicable law. Our respottsibi]iu¢s under those stsrLdsrds Arc further de5cllbed IJ) the Atsditot5 responybilities for the audit of the financial statemeftts section oFour teport. We are ￿dependent of the charitable CO￿PanY in actoKd3xJ¢e with rhe ethic21 uiretllents that are Idev#nt to tsur gudit of the ftslancial sr3tements Jn the UK. ￿Clud￿ the FRC'S EthicRL Standard. we have fid6lled our othei ethjcal responsLbi]iu¢s ￿ accordanee with these reqoitemenis. We believe that rlL¢ audit evidente we have obtaitied is suEficxent and appiopriate to proiryde a basi5 for our oplllloa. Conclusions relating to Going Concern We have nothmg to report UL re5￿ct of the foliowiDg m2ttets to tbe ISAS (UK) ttqluxe u5 to report to youwhere.. the Twstees, use OF the gO￿g concetn b2sis OE accounrll¥ llL the pieparAtion of the finxnci31 statements is nor ppioptjate. or the Trustees have not disclosed Jn the fin2nci21 statetnents any LdentiGed matetial urtceltaiaues that may cast $i￿1£¢allt doubt about the The2tre'5 a￿l￿"ty 10 continu¢ to adopt the SO￿8 coacem bASiS of accounring fox a peood oFat least twelve month5 from tht date when the financial statements wete authollsed Eox Js511e. Othet infotmatio The Ttustees ate iesponsAble Eor the othet inEormauon. The other ￿Lf0M]StiOf￿ cornpllses the ￿fOn￿ltioll induded in tILe annual report. other than the tLoancJal State￿entS aad oui Report OF the IndependentAuditor thcreoo. Our opulloTh on the fioatLciai statetnents does not covet the othei info￿aU0￿ aad we do rlot express sny EoctL of #SSLtrance conclusion thereon. Iu connection with Audit oEthe fLancial staiemenis, our responsLbiliry is to tead the tr[her￿fOr[ll1trott and. xti doing so. consjdei whether the other mEortnatioo J$ ￿ate￿allY inconskstent with the fLancial staiemeats or our kn¢>wledge Obta￿ed ￿ the guth't oi otheTh￿Se appeais to be tnaÉeJJally m15sr8red. If. based on rhe work we have peifoimed, we conclude thar there L5 s matenal lllls5tAtemeAt of this Otber Infom￿tiOn, we ale iequited to teport that lacr. Wc have nothing to teport iti this regard. OpinioTh on other matters prescribed by the Companies A¢t 2006 In ow OPinAtrn, based on the work uttdeftaLen ￿ the couEse of the 2udit.' the ￿E0￿M￿￿O0 gLvett in the Report OE the TLUStees for the financial year fo￿ wbj.ch the fioancial $tAtethents are prepated is consistent with the financial staiernents. 2nd the Report of the Trustees ha5 been pEepaied Jn 3tcord3nce with applicable leKdl rtguirements. M2tter5 on which we ate tequited to tewrt by exception In the bght of the knowledge ind undeistAnding of rhe charitable compaoy and ir5 enviroLunent Obta￿ed Jn the couLse oFthe audhi, we have not ￿entified u)atellai mi5sratements ia the Report of the Twstee$. io- REPORT OF THE INDEPENDENT AUDITOR- continued TO THE MEMBERS OF GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED Matters on which we are required to report by txceptio We have rLothiog to report ICL respect of the Eollowing llLattets whtKe tht COmp￿eS Act 2006 requ￿e8 US to reptsrt to you xl, in out opinion.. adequaie accounring records have not been kept oi rerLtsnS adequate For our audit have not been receLved fro branches not wsAted by us: 01 the finArLcial $tatetnenr5 are tiot a￿etmeAt Kvxtb the accounting ttcords attd returns. or thsclosuies 06 tW51ees' remurtetation sPe￿fied by law not msde. 01 we have not Iec￿Ved 9ll the ￿E0￿￿tion and LKplaoations we reqll￿e for our audit: or the Ttusrees weie not entitled ro loke advantsge of the smA]L CO￿panies, exempuoo f¢om the ttquI¢em￿t ro prepare a Strategic Report or in piepaiing the Report of the Tn]stees. ResponsAbilities of trustees As explaitied Djote the Statement of Tru5tee$ ResponsibAiities, the TLUSttts (who are aL%o tbe {j￿ectorS of the challlsble cornpAny foi tbe Pu￿0$e8 OE company law) are teSpo￿l￿1e Eor the prepArdtion of the GnatLci3J statements and for being sausfied that tbey gve a true and fait vxew, and Eot such ititetnal control 2s the T￿s[ce5 deteEnllne As rteeessary to ettable the pieparAtiOts of fthancial statements tht 8re Eree frotn Trateiial rnis5t3tett)ent, whether due to) fraud or error. In Prepa￿ the financLAi S￿te￿ellts, tbe Trustees ale tesponsibk Eor assess￿8 the chatitable conipaoy's abikty to conTinue as a goitig concera, dJEclosJng, as apph'cable, tDAtrer5 related to gtsing concertt #Ad usirtg the gO￿g concetn bas￿ of accowiull8 unk55 the trustees eAthei irttend to knquid#te the chari12ble compaoy or t(> ce25e opeiations, 01 have tea]isuc alternative but io do 50. Our reSPQD$ibilitie$ for the audit of the financi21 statements Ow objectiTr¢5 ate to obtain ie¥50nablt aS$UL2nce about whetheE tbe f￿anCi￿1 statttnents a$ x whole ate free fxom tDaieiial tDisSta(e￿eQt. whethei dut to Eiaud 01 tttoi. and to i£5ue a Report of the lodcpendcnt AuditoE that includes our opinion. Rea50a&ble Assuiaoce xs a hj'gh level of assurance bur is aot 2 wrantee thAL an audL't cottducted frn accordance with ISAS IUW will 21w2ys detect a nJ#ieiialn)isstatemeLt when At eyists. fvlissratemenr5 Anse from fraud 01 erLoI are coosideied m*reriAI if. ￿di￿a￿allY Or ￿ the aggregate, they could teasotsably be expecred to influeoce the econollllc deusLoas of useis takeo on dxe basis of tbese financial 5tatementS. trtegulallues. including ftaud, ate Anstances OE rLott-compb2nce WLth laws and regd2tsons. We dessgn proceduies in ]ine with our responsibilities. oudioed above. to detect m)ieti21 misstatements in ttspect of llregulanttc5. JndudLt¥ fraud. The extent to ivbich our ptocedutes are capable of detecrAng irregthanties, indudiog Etaud is detailed below". In identifying and aSsesS￿g Jjsks ol rnateDaL missr2t¢ment ￿ respect of Irreg￿ltities. itidudiJ)g fraud and nott- compJk2ncc with IRWS and ieBLQations, oui piocedurts xtscluded the EollowLn¥. enquwc5 of rn8a28etrLellt ￿dud￿8 a pre audit tueetiELg" ob1am￿g and tevie1v￿g supporting dotutnent¥tiOll of policies eoncemitig the laws 2nd iegLllatioos appucable to the thAllty'S busine5S" undetstanding how the chaiirable comFany comp]i¢s with its it￿￿t0￿ f￿newOrk by ￿akIng enquities of management. con5ideung rhe cultur¢ inherent Jn the company and whetbe£ tbis LepLeseJ)ts a cultute oEhonesry and ethical behgWO￿ With a stsong emphasis 00 detection aod prcvention of fraud. Wt assessed the susceptibLiity of tbe chautable company's fin3ocial statements to m2tenal tni55tstern¢nt and cozxsidered how fraud might occur. The audit prDceduies peEFonned Ancluded, but were nor limi.ted to.. ch2lleowg maaagement assumptions aad estimates.. identify￿g And testing unusual joumal entries.. As$ess￿8 how tbe IelewdJLt laws attd ￿e￿￿tionS have been compkned and noting ony insronces ol non comp￿1￿Ce- r¢￿eWIng the fillanciaL ststetneats for cornpliaace with the relevattt Accountitig Standatds and accounung Iwlauott applicable to o chatitable company REPORT OF THE INDEPENDENT AUDITOR- contitiued TO THE MEMBERS OF GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED considering how those charged wjth govern#txct h2VC 2ddrcssed the possibib'tJT of an overKide OE essentiat controk or other influence over the financial reporting processes. In 2d&tion, we also considered other non financial laws relew4nt to the charitable compAn5'. These do not necessaTi]y have # direct influence on the fin2nci21 statements but might 2Efect the chatitsble companls 2bi]ity to optrate. A furtherdescription of our responsibilJtye5 fot the audit of the finano#l statements is located on the FIt12n￿lI Reporring Countil's website 2t ivww.Irc.org.uk/2uditorsresponsibiti'tie5. This descriptson fom)s part of ollr Repott OE the Independent Au&tor. Use of out teport Tr￿5 report is made solely to the charitable cortLP3ny's members, as x body, in accordance with Chapter 3 of Pait 16 of the Comp2Liies Act 2006. Our audit woik has bcen undartaken so that we might statc to the ch2rAt2ble company's member5 those ￿atterS we are ieqwred to stste to th¢m in an 2u&tor's repon and for no othet pugose. To the fullest extent penThtted by law, we do ftot accept or assun)e responsibiliryp to anyone other than the charitable company #nd tht chatitsblt tompany's members as 2 kndy, Eor our au&"t ivork. for this Tq)Ort, ot Eor the opinions ive have fornied. ROGER DOWNES FCA {Seniot Stamtory Auditor) B K PLUS AUDIT LIMITED Charteted Cettified Aceowitants xnd Slatutory Auditor 6 Manor Patk Busitie6s C¢ntte Mackenzie Way Cheltenham Glouce5tershite 12- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES ONCLUDING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Total Funds 2024 Total Funds 2023 Re$tri¢ted Untestricted Funds Fund5 INCOME FROM Donfitions and k￿￿e5 (Aote 2a) Othei trldirtg acti￿￿¢S (note 2b) Investtneot income {note 2c) 64,830 609.042 789,847 143.416 673.872 789.847 143,416 649.169 643,541 37.805 64.830 1,542,305 6.328.478 255,451 1,607,135 6.328.478 255,451 1,330,515 5.032.163 147,124 locorne Erom Chantable Attivitie8 {note 3) Otlxer itieome (note 41 Total 64.830 8,126,234 8,191,064 6,509,802 EXPENDITURE ON R￿S￿g funds loote 51 ChariLqble acuvAtt¢5 679.504 7,054,436 679.504 7,160.952 597.911 6,045,955 106,516 106516 7,733.940 7.840.456 6,643,866 NET INCOME/{EXPENDITURE) BEFORE TRANSFERS Transfe￿ bettveen fi￿d￿ {note 21) 141.686) 392,294 350,608 (134,0641 NET mOVEmE￿r OF FUNDS IN YEAR RECONCILIATION OF FUNDS Balance btought fotwatd at l April 2023 141.686) 392.294 350,608 (134.064) 630.793 2.044.169 2.674.962 2.809.026 Balance carrled forward ai 31 March 2024 589.107 2.436.463 3.025,570 2,674,962 Analysis of funds (note 21): UnresiLicied 8eaeral knds Desipted Eunds Restricted capital tunds Restricted ￿¢0￿¢ fuads 236,463 2.200.000 501.663 87,444 503,796 I.540,373 535.899 94,894 3.025.570 2.674.962 Tfje oNPag¢$ 18 13- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED CHARITY STATEMETrrr OF FINANCIAL ACTfviTIES (INCLUDING INCOME ATr4D EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Total Funds 2024 Total Fund5 2023 Restticteduntestticted Fund5 Fulld5 INCOME FROM Don2ti0as R￿d legacies (note 221 Inve5tmeni income Inotc 2d} 64.830 609,042 427,906 673,872 427,906 649.169 228,057 64.830 1.030,948 6,328,478 1,101,778 6,328,478 877,226 5,032,163 Income From Charitable Acti￿tieS (note 3) OtbeE itieojlle Total 64.830 7,365,426 7,430,256 5,909?89 EXPENDITURE ON R2iw Eunds In(>te 51 Chatitable #Cu￿tteS (note 61 106,516 6,973,090 7,079,612 6,043,489 Total 106.516 6.973.096 7,079,612 6,043,489 NET INCOME/(EXPENDITURE) BEFORE TRANSFERS Transfets between funds (note 211 (41.68S} 392.330 350,644 (134,100) NET MOVEMENT OF FUNDS IN YEAR (NOTE 10) (41,6861 392.330 350.644 (134,100) RECONCILIATION OF FUNDS Balance brought forward at l April 2023 630,793 2,044.133 2,674,926 2,809,026 B21attte cattied fotf¥atd at 31 Marcb 2024 589,107 2.436,463 3,025.570 2.674.926 Analysi$ of ￿lld$". u￿est￿Cted gettetxl 6Jllds Desigwted funds Re5tncted capAtzl funds Resttickd irlcome fi￿dS 236.463 2,200,Crf)O 501.663 87,444 503,760 1,540J73 53S.899 94,894 3.025570 2.674,926 Tle 18 ts 35fvmParfof¢h 14- GLOUCESTERSHJRE EVERY￿￿ THEATRE COMPANY LIMITED CONSOLIDATED AND CHARITY STATEMENTS OF FINANClkL POSITION AS AT 31 MARCH 2024 Group CILarity 2024 2023 2024 20 FIXED ASSETS Taftyble ￿setS {Aote 12} Investment5 (nore 13) lJ63,759 1.435,337 1.327,782 1,393,054 1,363,759 1,435,337 1.327,786 1.393.058 CURREwf ASSETS Stocks Dcbtots lrtote 141 Cash at bank and in hand 18,688 809,183 4,666,780 15.751 630,551 4,349,928 681,131 4.576.214 557.917 4.268.956 5,494.651 4.996.230 5.257?45 4.826,173 CURRENT LIABILITIES CLedJtors.' Atnounts EallLng due within one Ye￿ (note 15} 3,485,502 2.974.084 3,212223 2.761,784 NET CURRENf ASSETS 2,009.149 2.￿22.146 2,045,122 2,064,389 IIABIIITIES Ctedirois" amounts fall￿g due after more than OA¢ year (norc 16) 347,338 782521 347,338 782.521 NEf ASSETS (note 17) 3.025,570 2.674.962 3,025,570 2,674,926 FUNDS OF THE CHAIUTY (note 21) Restsieted fithds Capiui Other restricted funds 501,663 87.444 535,899 94,894 501,663 535,899 94.894 Total restricted fi￿d$ 589,107 630,793 589,107 630,793 Unre5tsiCted incts￿e funds.. Gcner Designated furLd$ 236,463 2.21K).O 503.796 1.540.373 236.463 2200,0(M) 503,760 1.540.373 TOTAL CHAIUTY 3,025,570 2,674.962 3,025,570 2.074.926 Approved by onu November 2024 Trustee as Trnstte G Mtiller For and OD behalf of the tru81ees 15 GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2024 2024 2023 Cash flows ftoui opet2titig activities Cash gettetated fxom operatsng acts￿￿e5 Inieresi paid 631,913 13.862 153.100) 148,0821 Net cash ftoD) operating activi(ies 578,813 34.220 Cash flows from investing activities Purtha5e of ta￿bk fLxed assets teiesi teceived Taxation ieceived 165,4761 (106,094) 143.416 37.805 147,090 58,841 Net castrL from investing acbyities 225,030 Cash flows ftom fiDancADg activities Loan tepaymertts In ye#r (486,9911 1233,742) Net cash ftom fLnAncing activities 486,991 233.74 Incr¢25¢/{dectta5e) ￿ cash aad tash equivalettts 316,852 1277,4101 Ca$h and ¢xsh equivaLenis At the begintting of the yea 4,349.928 4.627,338 Cash and cash equivalents at the end of the year 4.666.780 4.349,928 16- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED CONSOLIDATED CASH FLOW STATEMENf . NOTES FOR THE YEAR ENDED 31 MARCH 2024 RECONCILIATION OF INCOME TO CASH GENERATED FROM OPERATIONS 2024 20 Net ts2come Depre￿￿tiO0 cha￿5 Fiffjance c051S 350.608 1134.0641 137,054 132.580 53.100 48.082 1143,416) (37,805) 397,346 8,793 (2,937) 11,93 1131,820) {104.2711 369,324 111,277 DecreaSe/(￿c[eS$e1 stocks Dectease/(inc£easel io trade and other debtoIs Incre2se/ldecrea5e) iti ttAde attd othet credjtors Cash ￿tt£tated ftom opetatxng activities 631.913. 13.862 CASH AND CASH EQUWAIENTS The amouors disdosed orl the StAteu*nt of Cash Flows irt respect of cash attd cash equivalents are in iespeet oEÉhese Ststement of Financial Position %LmOUllt5'. Yeat ended 31 March 2023 31.3.24 1.4.23 Cash and cash equivgjents 4,666,780 4,349,928 Year eDded 31 Match 2022 31.3.23 1.4.22 Cash ts$h equivalettts 4349.928 4.627.338 17- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES (a) Going Ctsncem The key issue Eorgolljg concein is the poterttially dettimeJ)tal effect On Customer demand from the C￿￿eTht economic uncertainty and intiauoaaLy Ptessuxes. The t￿￿teeS have consideied the impact of this 00 the Theatre's cutreot 2nd future finaocLA] p051tion. As at 31 Maich 2094, the Theatte holds unte%¢ncted genetal teserves of £236,463, deSi￿a￿d ie%erves that can be drawn down. LE tLecessaryJ of £2,2C4),000, and an avaAlabl¢ cash bglatLce of £2,744,425. The NPO grant from Axis CouncJ E￿]9nd has beerl exieaded tc> Apiil 2026 and the Theatre has a granL aYe¢ll￿1t ￿th Chdtenbarn Boiough Courtcil which commenc¢d in 2011112. A detsiied projection to ApIil 2025 h45 beeo m•de Arld this supports the view of the ttustees tbat the Theatre has sufficient unrestncted re5erve$ and cash flow to cootinue 05 0 going concern for 2 peThod of t least l2 tnonths fiom the datt on which these Fw1aAci￿ slaternent5 are appr(>ved. For this reason, tbe fittanci21 st3tement5 have been prepared on a going Coocem basis. Ib) Basi5 of AttOUDtillg The fittanci9J statements have been prepared m accordance with Accouutitig attd Repc>tting by c￿l0￿e$." Statement olRecomrryended Practice applicable to chauties prepating IheLt aCCOUllis ￿ accord2rLce wit the FitiattciAI Reporting Stsndatd applLC8ble ihe UK and Republic OE Ite]2Ad (FRS102) leffecuve I January 20151- ICb2nties SORP (FRS1O2)l. the FinAttciai Repoiting Standard app]icable in the UK and Republic of Ireland (FRS102) and the Con2p8iues All 2(K)6. Gloucestcrshire Eve4rJnRll Theatre CollLpany tamited meets the dethliuoft of a pubkc benefit entity under FRS102. Assets atsd kn2bibue% Ire iwtially recowsed at histotical tost oi tiansactic>n wdlue urnie5S Othernvjsc stated ￿ the relevant Accounting policy note(s). (c) Gtoup Fitiatscia] Statements The financAg1 8txtemenrs coosolidate the xesults of rh¢ chanry and its Ihtee subsidiary compatt*s, Glouce5t¢rshir EveEy￿aU Theatre CAteiing Company Limired, The Gloucestetsjjir Every￿￿￿ Theatre Producuons Company Limited and Gloucestcr5hire Evcrpwn Theatre Touriug co￿paaY Ltd, on # ]ioe- by-line basis. (d) Income Donation6 legacies and granis DotLations. gifts aad leg#cies ieptesent amounts teceived dwing the year. to￿ther WLth any g5gOCiAted tsx refund. Donauon and I¢￿CY ￿cOme is 5hoiva ￿ts$$ befoie deduction of ￿￿1-1¥L51llg ex￿nditU￿e. Legacies Are EecogDised whell At is PtobAble that rbey will be received arld the gtnouot OE the legacy is known with re05onable cerrainry. Gran15 ttceLvable fot spccific purposes are credited to the Ststement of Finaocigl Activlties in the Fear ro which they ielate R5 as conditiotss for receipt have been met. Graots Eoi JllLD]edi3te fLnanciai support or ieceived #gats￿1 costs pr¢viou51y ￿CUrred are reco8ntsed Ammeth"aiely in the Staiement 0EFiosnciatActi￿tie$. A]Lcapxtal gtants teceived ate recogmsed iu the Start￿ent of FioanciatActiwtie$ 2nd CLedited to a separnte testricred futtd. Any deprecauon charged on the elemettt of tbe eo$t of assets fi￿ded by grant5 is char8ed tt) restticted fuExds. Other ttading activities InCo￿t E¥om othei tihdjng actswties ttpresentS the amounts. exdlld￿g value gdded tax, ieceivable duting the year foE goods aod servic¢s supplied. Revenue is recogni5ed at the polnt oEproduci con5umpuon 8rLd 5er4ice delivery. 18- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- Continued FOR THE YEAR ENDED 31 MARCH 2024 ACCOUNTING POLICIES- continued (d) Income (contiftued> iii) Charit2ble 2ctivities Production Ievenue is incIL￿ed in the Staiemeat of F￿ancIal Activities when the pubh'c perf0m￿n¢t OE a production is complere. Adv8nce revenue is induded Aa xcctuals attd deferted income. Revenue arising frotn the Edueation and Con]munity progxamme is included w the State￿¢￿[ of FioanciaL Activities xti the peLiod when the aCti￿tt¢S are completed. xv Inttre51 Inrere5t 15 recopd in the pttiod to which it ielates. (e) DoDated Setvices Facilities Vhtte Eoods ox seryices th2t would llorrn￿ be purchased from.5uppliers aie ptovided to the chgtity #S a donarLOll. this contribution is ￿ClUded ￿ the State￿ettt olFioartcial Acuwues ai arl estimate based the vaLue of the conttsbuuoa to the ch30ry. (f) Expenditure Expenth"ttire LS recognLsed whea a ]i2bihty 1$ ititurred. C05¢5 of r￿$￿8 fi￿d$ 2re those costs iticuued in 2ttTrctsng volunury income aod those iocwred ￿ ttadsng Activities that t2ise fi￿d$. ChaKityAble Ocuvities ￿Clude exyendiLiJEe aSSOCLqted with the staW8 oFpioductions and the Education and Conullullity PI0￿Mme itLclude btsth the dtsect costs and 5uppoxr cosis rela(ing to these gctivJtie5. Support C05rs include central runCr￿n5 aod h2ve been alloeAted to 2Ctivity ctsst categoties on a ba5lS con515teTht wxth the use of testsutces, e.g. allocating propeLV cosrs by floor areas or per capita. staEf costs by the time spent and orhei cos15 by thejr usage. The costs ol a production are chal￿d A5 expenditure iti tbe SrAtement of FAtianeAxl Activitses wben the public perfolltLance of a production As complete. Cosrs of future producuons are canied Forward as oth debtors. The costs 05SOCiated wAth the Educatton and co[n￿u￿1ty pro8ramttLe ale chai8ed as expendittJLe io the Stgrement oEFknancxai Activities ￿ the peiiod when the 2cttMries Are completed. Ig) Taxation The cbariry beftefiis froru ratcs Ec]i¢f aod is exe￿p* fiotn CO￿0[a￿On tax 011 Lts chatitable actjwues. It is not. howcver. exetupt frollL VAT irrecovetable ITAT is Ancluded in the cost ol iterns to whichit (h) 'OpetAting Leases Tbe c051 o[¥(￿ ￿COme from operatin8 leases have been cbatged to the Ststettlent of Financial Activities orl 2 Straght-liue basis oveE the lease tttm. 19- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS - Colltitsued FOR THE YEAR ENDED 31 h(ARCH 2024 ACCOUNTING POLICIES- continued Tangible Fixed Asset8 Depreciation is calculated to vrrire off the cost or valuatxtrn less estitnated iesiduxi va]ue of rangible assets over their e5rimated usefu] lives at the following rates.. Pbnt arld equiwnt lotoi Yehicles 50/0-33010 straiglyt ILne - 33/0 strnight line Short leasehold pioperty smpioveD2ents are depreci8ted over varying tetms not longet thao the rematy)dtr OE the lease iem). The improTement$ 8re Eevalued to zeflect ihe acfv#l c05tS Lncurred on cO￿PIcI￿on of each defined phase OE wo& An ]XAe with gxatst El￿dS Eiom the EverymAn Theatte Cheltenham Development T￿¢. DtptecJ2ti0n 1$ chai￿d ftorn the year Following acquisktson. The deminurris limit bek>w which FLYed gssets 2re aot tapitahsed xs £1,000. The tn]Stee$ coasider the cairying values of assets and sny llnpaianent thereon. Kythett there is impaimient. a pro4ry5iOn to recogai5e the ditllinutioll in value is reco8m5ed in the ftsiaocd $ratell￿nIs. ') Stocks Stocks Iralued at the lower of cos¢ 2nd net te81isable vÈlue. after ttxakjng due 2llowAnces fot obsL>lere and Slow-mov￿g items. C05t 15 defined as the average cost ol goods iticluding transport Costs. Net ieabsable value is based on estyDiated se]hog price le5S Costs expected to be incuned ptior to th"sp05al. (k) Fund5 Structure Fund5 hdd by the chanty are either." unts￿l￿(lId$t￿tr￿I￿￿￿r- these ate thds which cao be used ￿ 8ccordance with the chantable objects at the discietion of the twstees. Des¢gnMkdfMnds- these fi]nd$ set aside by the ttustees out of untestticted general for specifi hJÈure putposes 01 ptoiect8. Rtstriu¢df*n￿- these att that Can Only be used for pHrticular restricted putposes vnthiA tht objects o( Ihe challty. R¢striCtiOQ$ 9nse when specAfied by tlxe dottoi ot wl>en fijnds a¢e I￿£¢d Eor partscu12r Iestiicted Pu￿Oses. Further explaJ)arion of the nawxe and putpose of tach (uod is in¢luded iti the note$ to the fiaancial statements. Pensions The youp operates a defllLed contxibution pen5ioA sciwne. CoAtnbutions payable Eor the year 2re chatged 10 the Ststemettt of F￿aOcial.￿Ctl￿tieS. The a55ets of the pension siheme 31e held sepatstely ro those OE the youp in ￿￿ePenden[lY admu)istered Fuod5. -20- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- COAktinued FOR THE YEAR ENDED 31 MARCH 2024 INCOME 2024 2023 Donation5 and legacie5 Igtoup and ¢hatity) Arrs Collncii Eng]snd CheRtenh2m Borough Council 384,494 148.8 384.494 148,800 533,294 533,294 Beguest Erotu Lady fvI24church Bequest From Mory Rees Spottsoighip, le￿cleS 2nd other in¢otne 45,645 iO.(M)O 30.223 22.504 609,162 566.798 onsorshi Refeience Deatt Close School Darne Violet Wjll Trust Nation21 St21 Colltge John Lewls Inve5tec Everyma￿ Assoctatiorl Chdtenhsrn Boiough Couneii Wentwotth Court National Star College National Siar Collcge NationAI Star College Sponsot s Seat ￿COme Others less thao £600 Srudio Chnsrmas Show Refugee Children Holst Project Cheltertham R¢fu8tt Project Project Zebia Studio Chtistma5 Shoiv The IVa]k Inter￿ae￿atlon￿i Project Reflections Project D￿rov￿ 2nd Expbtr Project Puppet Ptoject 3,51XI 1.21M) 1.083 20.000 3,073 3.QKIO 2,500 1,300 6.424 3.253 548 18.460 36,121 Cheltertham Borougb Councd- xeni & insurance 46.250 46,250 64,830 82,371 Total donations and lega¢its 673,872 649.169 21 GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEmE￿rs - ¢ontinued FOR THE YEAR ENDED 31 MARCH 2024 INCOME- continued 2024 2023 b) Other Trading Activities (gtoup) UnTesly7ctsdgeFAerullHnds Bax and cateJJog actswues 789,847 643,541 789.847 643.541 Investment income (group) loteregt on ￿VestmentS 143.416 37,805 d) Investmeni income (charlty) U*tvsfv¢tedgmiralfvxds IrLteEest on ￿VeSt[￿ent$ Rettt atsd 5eriryce corLtllbution5 from tradLng 5ubsJdi£nes Divideods EEOM trgdiag sub51diaiies 143.416 36,516 247.974 37.805 34,770 155,462 427,906 228.057 INCOME FROM CHARITABLE ACTIVITIES locome Eiorn concerts aThd stage peifom)ances'. ad￿l$s1On charges and progtammes 6.196.769 4.9ts2J43 Educ2tion and CollLZZLUtuty Pii)gt3mme ￿eDEnt 131.709 129.820 6.328,478 5,032,163 OTHER INCOME Pxoducuort and Tourin8 tsx credit5 Subsidiary Show Jncome Vrite dowrl oEloan to sub5Èdiary cornpany 223,451 32,000 146,883 241 255,451 147.124 Other Govemment wnts EXPENDrruRE ON RAISING FUNDS TELeatte- support costs (noie Bar and cAtenng 679,S04 597.911 679.504 597,911 Theatre- support costs (rAOte -22- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMrrED NOTES TO THE FINANCiAL STATEMENfs - ¢ontittued FOR THE YEAR ENDED 31 MARCH 2024 EXPENDITURE ON CHARrrABLE ACTIVITIES. CHARITY The cbaury urnderrakes djttct ch¥ot?bk actiwues only. Concert5 Education & d St2ge Community Perforn]ance5 Progra￿￿¢ 2024 Total 2023 Total D￿ec[ production costs Backstage and othe¢ p¢oducuon costs Productioa/2ctiviry adveitiSULg And maLke Box office and front OF house Depteciation/los$ on disposal of assets Centtal pxemises costs Support cost5 (note 7) 4,257,724 541.523 427.026 239,717 106.625 322,652 781,313 87,695 4.345.419 541,523 427.026 239,717 128.492 388,717 1.008.718 3.370.323 448,029 398,629 234,496 118,929 541.964 931,119 21.867 66,065 227.405 6.676.580 403.032 7,079,612 6,043,489 The Ansut%oce industry revisited its C%￿sure to tisk For it5 2022/23 in5urnnce renewal, the Theatre wa5 rtquired to make ￿ProveMe0t$ t(> the buiickntig at a c05t of £189,000. This work has been du￿ 2023 2024 and tbe decisLon was made to recowse thi5 one-off exctptiottAI cost in the 2022/23 aGCOUrtIS. ALLOCATION OF SUPPORT COSTS- CHARITY The chAnty Rllc>cAtes Its support costs as shown the table behw SXLd thell F￿￿e[ apportiOn5 the costs betweeo the two cballtable acttvLues uttdext¥ken (see note 8). Support costs aie 911ocaied on a basi5 conS￿￿￿t the use of ttsources. Thtatre Opetatiots (itie Education Support cosis General office Finance office Infonnation technology Extetnal audit Legal #nd othei ptofessional fees 693.208 169,608 58.546 7,410 79.945 1,008,718 ANALYSIS OF NEf COST OF CHARITABLE ACTIVITIES . CHARITY This tAble 8hows tlxe cost o( the ttvo ch20tsble 2CtiVltie$ god the SO￿te$ OE revettue dxtectiy to suppott those acts￿ues. CoD¢ert$ Eduratiott & and Stage Communxty Performances Prograjnme 2024 Total 2023 Total Cost5 Admi'ssion chaxge5 6.676,580 6.190.769 403,032 131.709 7.079,612 6,328,478 6.043.489 5,032,163 Ne¢ cost funded ftom other ￿(9￿¢ 479,811 271.323 75J,134 1,011226 -23- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FFNANCIAL STATEMENTS- continued FOR THE YEAR ENDED 31 MARCH 2024 ANALYSIS OF STAFF COSTS 2024 2023 Salane5 and wages SC>C￿l secunty costs Pension costs 2,466,750 167.041 83,313 2,266,838 160,759 82,827 2,717.105 2.510.424 Thexe were ¢wo emplLiyees12023.. 2 e￿P10yees) whose ellLolu￿eftt$ Eoi tlxe year wete Lycess of £60,000. The number of sta6Eemployed by the gxoup duLiog the y¢ar wa5 as follows.. 2024 Number Total 2023 Nutnber Total Full_time Part-time Casual Bar and C3te￿n8 Concens sad stage peifomknnce (House staEO Educatioa and C0ttllnL￿Iry Ptogramme FUndraiS￿g 31 36 32 15 24 125 14 119 14 28 125 176 166 io. MOVEMENT IN TufAL FUNDS FOR THE YEAR This is 5tsred afr¢r charging/lcreth"tLrg) the following. 2024 2023 Auditold pioperty impIovements compiise.. Cost or Revaluatio Aecumulated Depteeation Net Book Value Group and charlty AdJJuons 2009 AdthtLOllS 2010 Additions 2011 Additioos 2012 Additi0rt5 2013 AddJttort$ 2014 Additioa5 2016 Addiuoos 2017 Additions 2018 Adthuoos 2019 .4ddktiOttS 2020 Ad&tiorLs 2022 Addi'tiotxs 2023 101.474 68,763 29,256 2,402,161 77,209 14.060 114.536 22,847 22.804 68.563 57.149 17,055 23.006 190,7811 153,163) 129,250 11,752,554) 150.473) 113,662) 157.427) 18.431) 110.175) 125.628) 122.S83) 13.411) 12.3861 10,693 15.600 649.607 26.736 398 57.109 14.416 12.629 42.935 34,566 13.644 20,620 Revaluation:. Phase 2: Phase 3B.. Tettrilatioft Reknbtshtnetst 337.274 113,953 (177261) {61.4001 160,013 52.553 3.470,110 (2,358,591) 1.111.519 INVESTMENfs- CHABJTY Subsidiary undertakings Shaies- cost at 31 Match 2023 Additions ￿ year D￿PoSal$ Shales- cost at 31 March 2024 The ch?rity owns the entire ordinary shate c2pitsI of Gk>ucestetshite Everymatt Theatre Catering Company Litnited (cost ￿, The Gloueesteishite Evetymaa Theatre P¢oductJons Company Lmited {cost £1) aad GlOuce5teish￿e Eve￿all Theatre Tounng CoTrpany Ltd (cost £1). Tlxt iesults of all OE the subsidiary CO￿pa￿t8 have been itiduded wxthiti tbese consobdated fitsattcJg1 siar¢merLts. 14. DEBTORS Group 2023 Chariry 2024 2024 2023 Ttade debtots AtThOUQL owed by subsith'ary companies Other debtots Pzepaymeats aod a¢¢wed income 85,948 76,512 80,776 111,963 23.562 464.830 76,512 108.660 139,600 233.145 209,253 513,982 286.712 267,327 809,183 630,551 681,131 557,917 -26- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- cotttinued FOR THE YEAR ENDED JI MARCH 2024 15. CREDITORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR Gtoup 20 Charity 2024 2024 2023 L)2n Trade creditors TaxatitirL and soci21 secutity Other creditors AccEuais deferied income Pensiots contobuUOttS Payable 187,256 219,499 41.682 31,517 2,995.345 10,203 186,597 189.112 3S,597 25,514 1528.569 8,695 187.256 172.610 36,711 28.853 1778,398 8.395 186.597 158,010 30.541 24,933 2,354.096 7.605 3,485.502 2.974.084 3,212,223 2,761,784 Induded withxn accrugjs attd defcrred tyjcome ts £1,583,092 (2023". £1 J05,708) oFadvance box office ticket 8aLes and vouchers for perEtsEmance$ to take place Ati tbe nexr fuuncial year. 16. CREDITORS.. AMouKfs FALLING DUE AFTER MORE TFIAN ONE YEAR Loatts Icbeltenham Borough Councxl aod CBILS) 2024 Due 1- 2 years Due 2- 3 years Due 3- 5 yea[$ Due iti I)￿￿e than 5 year5 96,191 18,653 39,555 192.939 347,338 DeFt￿ed Income 347.338 The loatt Eiom ChelreLtham Botough Council is at a fLKed rate of 3.934/0 ovtt 25 years and is ullsecwed. The baak holds a fixed and floatitig chaxge dated 12 Febnwy 2021 in conacction with the CBILS loan. 17. ANALYSIS OF GROUP NET AssKfs BETWEEN FUNDS Other Restricted Funds Re81ricied C2pi¢#I Fund Re$tri¢¢td Intomt Unresrricted Fund Funds Totsl Tart￿ble &Yed assets Current assets Cutient liabAlities Long tem) liab￿U¢5 501,663 862,096 1.363,759 5.407.207 5.494,651 {3,485,502) 13.485,5021 {347.338) (347.38) 87,444 87,444 501,663 2.436.463 3,02S.570 27- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- contioued FOR THE YEAR.ENDED 31 MARCH 2024 18. COMPAIIAT￿ES FOR THE CONSOLIDATED STATEMENT OF FINANCtAL AcfivITIES Total Funds 2023 Restrictedunrestritttd Funds Funds INCOME FROM Donations and legacies Other trading aCti￿tieS InvestLnent xticome 82,371 566.798 643,541 37.805 649.169 643,541 37.805 82J71 1,248,144 5,032,163 147,124 1,330,515 5.032.163 147,124 lllcon￿ Irom ChatitabL¢ Acts￿￿e5 Oth￿ itic0￿e Total 82,371 6.427.431 6.509.802 EXPENDITURE ON Rgising Eunds Chantable activitie$ S97,977 5.921.828 597,911 6.045.955 124.127 Total 124,127 6,519,739 6,643,866 NET INCOME/(EXPENDITURE) BEFORE TRANSFERS 141,7561 192,308) {134,064) Tialls£eE5 between funds NET MOVEMENf OF FUNDS IN YEAR 141.756) 192.308) {134,064} RECONCILIATION OF FUNDS Bal2ts¢e btought forward st l April 2022 672,549 2,136,477 2,809.026 B￿ance carried fotivard at 31 March 2023 630.793 2.044.169 2.674.962 28- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- eontinued FOR THE YEAR ENDED 31 MARCH 2024 19. COMPARATIVES FOR THE CHARrrY STATEMENT OF FINANCIAL ACTtVITIES Total Funds 2023 Re5trtctedUttteStticted Fund5 Funds INCOME FROM Donations aod le￿￿e3 lavestsnent xntome 82.371 566.798 228,057 649,169 228,057 82.371 794.855 877,226 Tncome From Ch#ntable ActiFitse$ Othei xticome 5.032.163 5,032,163 Total 82,371 5.827.018 5.909.389 EXPENDITURE ON liaising futLds Chaotable acti￿lieS 124.127 5,919,362 6,043.489 Total 124,127 5,919.362 6.043.489 NET INCOME/(EXPENDITURE) BEFORE TRANSFERS {41,756) (92,3441 {134,100) Tr#nsfers betweett fill￿$ NET MOVEMENT OF FUNDS IN YEAR (41.756) (92.3441 (134,100) RECONCILiATION OF FUNDS Balance btought fotwatd at l April 2021 672,549 2,136,477 2,809.026 Baianee cattled forward at 31 March 2022 630,793 2.044,133 2,074.926 20. LEGAL STATUS OF THE CHARITY The chanry is a ¢otup2ny ]irnited by guarantee. Each of the members is a guarantor io the ¢xt¢oi of ￿ Jn the event of the chariry bets)g wouod up whlist a tnember. or vnthin on¢ year of Ceas￿ to be 2 membei, In respect oFdebts and ]iabi]itie$ t0tttr2eted befort ce25in8 to be a membex. -29- GLOUCESTERSHIRE EVERYh(AN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENfs- conuuued FOR THE YEAR ENDED 31 MARCH 2024 21. ANALYSIS OF CHARITABLE FUNDS. GROUP a) Artalysi6 of Unte$tti¢ted Fund Movements Asatl Aptil 2023 As*131 March 2024 Incojne Expenditure Transfer5 General fi￿d Designated Fund6 Continuiry of operations and Exceptional Circutnstances ELmd 950,000 Majot mainttoance fiLnd cott￿LU￿ty Piojects fund Re￿￿bIshMent fund Grove Stteet fuod ltt-house Ptoductions 2nd T0￿S 118,978 503.796 8.088.119 (7.644.883) (560,569) 386,463 950.000 500,000 135,000 150.000 135,000 186395 350,(X)O (186?951 4￿,000 (3.036) 400.(K)O 65.(K)O 38.115 (89.0571 2,044,169 8,126,234 (7,733,940) 2.436,463 b) ADaly8xs of Restricted Fund Movements Capit21 fund (note 24) 535.899 Rent & ItLsuiance fund EducatiorL & Cotnrnutllty fund hlcKtllan Buisaoes National Srar College Projects 134,2361 146.2501 116,573) (8.482) 1975) 501,663 46.250 17,380 57,010 36.968 916 57,817 28,486 1.141 1,200 630.793 64,830 1106,5)6) 589,107 COMPARATIVES FOR THE ANALYSIS OF CHARITABLE FUNDS- GROUP a) Analysis of Un￿51￿Cled Fund Movement5 Asatl April 2022 As#t31 March 2023 Tneome Expettdityre Transfers Geaeral fijtsd Desxgttated Funds Contjnuiry osope12t￿fjs and Exceptional Ciitumstantes fuDd 950.0(XI Mfijor maxnten4nce fund 150,0(K) COM￿ll￿lty Projects Eund 125.0(K) Refixrbisbment fi￿d 186,395 IrL-hou$c Pxoductions And Tours 118,978 r)06.104 6,427.431 (6.519.739) (10.000) 503.796 950,O)0 I50,￿)0 135,000 186.395 118,978 10,000 2,136,477 6.427.431 (6.519,7391 2.044.169 b) Analysis of Restricted Fund Movements Capiial fuod {note 241 570,281 Rettt & Ittsuiartce fimd Educauon & Communiry fi￿d McKellan Buts2ties NatiotLal Star College PLojects (34,3821 (46,2501 (34,1901 (6,9401 (2,3651 535,899 46.250 33.921 59,180 42,IM)7 1,081 {1.901) 1,901 57,010 36,968 916 672,549 82.371 (124,1271 630,793 -30- GLOUCESTERSHIRE EVERYh(AN THEATRE COMPANY LIMITED N(YfES TO THE FJNANCLAL STATEMENfs - coThtinued FOR THE YEAR ENDED 31 MARCH 2024 23. DETAttS OF RESTRICTED AND DESIGNATEJ) FUNDS Putpose of Restticied Funds The Capital fwid represents the cost of co￿PIe[ed phases of short leasehold impiovemettts tunded by the Everyman Theatre Cheltenham Development Tmst depteciaied over the remaiftder of the kasc ttrtu. the cost5 of root￿8 work fuoded by Cheltenharn Botough Council depreeiated over irs usefia ecottojnic ILfe, and the cost of the Srndio refutbishmeat aThd air conditiotiing U￿t$ fvnded by the Ch¥des ILving Tnjst and depieaated ov theii useful econoti)ic Lfe. The Rent & lusurAnce fund repiesellts the poitiOtL OF the a[￿￿#] xenr and ￿S￿rInCe c0515 ¢h$t is 5ubsidi5ed by grant Itom ChelteLtham Boiough CowLCii. The Educotion & Communiry represent5 mon¢y rdi5¢d to meet costs ￿cUrred by the Education and Cornmuwry prowttllne. irLclude5 Project Zebta. ELthded by Investec. which provide 0 drama dub ptimary schools, a chjlthn's play ro tour iibxaoes and a Stre￿ to children's hospitALs of Ehe Studio C!)tistmAs show. The McKelleA fimd represents rnooey to help chjldren And young people to access the arts. The National Sr21 colle￿ Projects fuad is For projects woikLng witlx students of the Natiort￿ Stai College to cEcatc perFc>Lmances thxt inCOtpoIai¢ Jntssic and dtar02 and PrO￿de opportunities for the Students to Aits Awards. Purpose of Des1￿¥ted Funds The ContiALuty of Opeiatitsns aThd Ex'ceptional Circwnstance5 fund would cover three ￿on[h$ of c(>rntDitted expendJ"Nre allowmg the Theatre to main[a￿ opuation5 tueei its ob]kgations Af exceptional cxtCLmlStance caused a $uddeEX loss oEincome. The Major fvl#ititenance &u)d is a reserve foi n)2jor maintenance ro the Theatre building. Dutiug the ye#i the balance in the Refurbisbrneni fllnd w25 combmed ￿th the Major Maintenance futtd as thete xs an element of ciossovti between tbe two. The trustees bave identtfied a schedule of works 0￿[ the next IO+ years which will be deliveEed ￿ 2 tollitL8 progratntne. based on key ptiorities. The Cotnmuwry Projects Fund wiu help to Fund projects aud the pioduction of ploys wluch encouxa8e loc people to engage with the arts. The Giove Stteer Fund was created as it 15 oux strate￿C objective to ￿Palld the prO￿$10n oo work in the otnmuniry. This fi￿d wilt hdp us purchase a property In Grove Street, Cheltenham io 2024125 to meet this objective, covei the basLC nii]tiinE Costs fot the first yeaL (items such 85 uriliu¢s. insurance and $ecuntyl, and fund the capital attd reveaue fundr8isiDgcatttp#ign thatts planne4 a tsyt of secuting £lm to cover the purchase. tapitsl refLubighment. attd 3-5 yexts, rtb)n￿g costs. The In-house Productious 2nd To￿5 fund wa$ cleated to support oux in-house and co-pxoductsott work. due to the inhercot fJnaocAai tisk involved in such projects. RESTRICTED CAPITAL FUND Group & Chaory 2024 2023 B212nce btought forwird Depreaauon chitge revAlued balance, ttattsferred in yeat ftom Income Fund Grant receipt 535.899 570.281 (34,230 134.382) 501,663 535,899 3J GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANc￿L STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2024 25. CAPITAL COMMIThIENTS 2024 2023 Capital commiunents 15.048 26. OTHER FINANCIAL COMMITMENTS 2024 2023 Annual comtx)ith)eots under ttort-cartcellable opeDting lease5'. - land and buildill8s expw ]n oveE five years 72,750 72.750 CoJ)JtiJittnents of £tiii (2022.. £nll) existed at the b?￿nce 5h¢ei date. triAting to guardnteed futuie payments agrttd uth travelling shoivs pnor to the year end, for p￿E0￿￿an¢t5 after rhe yvar end. 27. CONTINGENf LIABILITIES The chanry has enteted ￿t0 a le￿1 charge with the National Hetirage MemoLial Fund with re￿rd to the pnt given by thc Fund Ln cotLntction wirly the ThearLf'S major I¢￿tb￿hrnerLt. 28. RELATED PARTY TRANSAcrioTris During the year, D3,82712023.. £10,860) of ptosts wett up ro the Theatre fEom it5 trading sUb￿dIA￿. The Gloucestershjxe Every￿ Theatre Clltej￿g C(>mpAny Ltd {the CateEirtg company> Chaiges of £318,20812023.. £207.3991 were tnade to the Cateiiog compatty lor the provisLon of rent. urihucs and other expenditute ￿CU￿ed ort the subsidiary's behalf. Costs oE£57.994 {2023.. £44,260) incU￿d on behaLE OE the paxenr company by rb¢ cAter￿g company ivtse tedxgrged to the Theotte. At tbe year end. £36.071 12023.. £46.720) was due from tbe Catering comp2ny. During the year. £174.147 of profits were p3Jd up to the Theatre from its ttading subsidiary, The Gloucestershire Evetytn3n Theatie Productions Company Ltd (the Ptoductiolls company) 12023.. £143,062). The Theatte r¢ch2tged costs OE £265.765 (2023.. £194,142) to the Pioductiotxs company that bad been u)cutsed on the subsidL'aKy's behalf. The Thtatie received charges of £874.99012023.. £734.081) Erorn the Pioductions Cotnpany Jn respect of ptodvcrions made oll the Thentte's behalE. AÉ yeAi end, £181,263 {2023' £76.724) was owed by the Producliolls eompaay. During the year Glouce5teishite Eve4m2n Theatre CateJJng Company Ltd sold goods to the value oE£1212023.. £156) to The Gloucestershire Everyuun Th¢2tr¢ PEoductiolls Cotupaay Ltd, on att Ann's length basis. D￿l￿g the yeai tbe Theattt wiore off £84,659 12023.. £2411 owed by Lts tEaditig subsidiary Gloucestetshxte Everyman TheaLre Touc￿8 Cornp8ny Ltd. leavlng a balance At yeai end owed to the Theatte by the TowiJ)g OF £62,88812023.. £nil). J WotktDan. 2 ttu$tee of tbe Theatre, xs a partner An BPE So]icitots, who pEowded legal ad￿Ce to the Theatre to the v2Jue oE£I,848 including VAT (2023.. £9551 on an a2Th's lellgth basis. RefreshtneELts oE£SJ 5 indudiag VAT weir inYOLced to BPE by the TheAttt's Cateiing $ubsid"Lary. A business owned by M Dey. a director of the CateI￿g subsidiary, piovided sponsoxskn"p of £6.000 includ￿8 VAT to the Theatte ott attLs' lensth basxs. -32- GLOUCESTERSHIRE EVERYMAN THEATRE COMPANY LIMITED NOTES TO THE FINANCIAL STATEMENTS- COA)tinued FOR THE YEAR ENDED 31 MARCH 2024 28. RELATED PARTY TRANSAcfioNS- continued P Bhckbuto. the ivife of J Blackbum. who IE a rru$tee of the Thestie, provided 8ecret%tial Se￿1¢eS 10 the Thearre dutitig the year invoiced £18012023.. £135) ott an iLmS' length basis. C Thomas. 2 trustee of the Theatre, owed £4212023.. £nit) at the yeai-end for ticket5 sold to hi￿ on #Jms. le asi5. M Goucher, chief execuuve OE the Theatre. is also the director oEMark Goucher Productions Limited fvIGPL). Costs of £321 plus ITAT weEe itLvoiced to that company by the Thear£e where they had been ￿CUrred oo that CO￿paThy'S behalf, Ind refreshments oF£175 plusVATwere ULv0￿td to that totnp2ny by the CaterirAg subsLdiary. Duun8 the year. MGPLwas a150 Iel￿bUrSed expertges that wete incurred on behalf ofthe Pr<)ducuons sub51di2ry to the value of J47 plus VAT, artd was paid £32.209 plus VAT ft>r Str￿¢¢9, ott ￿[￿8. lettgth basis. fvI Gouchei As also a ditector OETFM On Stage Ltd cfFW. Duong the year the Theatie itivested £150,OIK) with tkns company to c(Fproduce a national tout of The Fu]] Monty. fFivl tepaxd D5,000 of this capital Kwthin the yeHI Rad paid the Theatte £22,583 plus VAT ￿ royalties. In ad&tton. TFM lAVo￿ed £163.01 I plus VAT foi the producuon oEThe full Moaty to the Theatre, OTr Rn zmis, Letxgth basis The Tht2tie char8ed£36.184 plus VAT LO fFM fot technic313nd m3rketu)g s¢ryices Pro￿ded on an anns. length bfisls. T¥{ Goucher is also a dlrecioi of Shrek On Str￿ Ltd {SOS1. £J 13.554 plus IIAT was itivtsxced by SOS for 8 producuon of Shtdt the hCusie#L bIought io the The*tte, on an am)s' length basis. In addiuon, £24.582 plus VAT was charged to thar company by the Theatre for technical 2nd matketxng services piovided 00 an atm5. length basis. 29. POST BAT￿NCE SHEET EVENT In Octobet 2024, the company purcbased a ptoperry in Grov¢ Stree4 Cheltenhasn to expand its WO￿ in the c0rtllnu￿ty. 33-