YVONNE ARNAUD THEATRE ￿NAGEMENT LIMITED (A COMPANY LIMffED 8Y GUARANTEEI Accounts for the Year Ended 31 March 2024 Registered No. 814453 Registered Charity No. 238436 Page I YVONNE ARNAUO THEATRE MANAGEMENT UMrrED Registered No. 814453 Accounts fof the Year Ended 31 Marth 2024 Content$ Page Contents Reference and administrth details 3-13 Dlrertor< report 14-17 Auditorf report 18 Statement ol financial artivities 19 Balance sheet 20-35 Notes to the accounts Page 2 YVONNE ARNAUO THEATRE MANAGEMENT UMITED Registered No. 814453 Reference and administrative detalls Charity name: Y¥oTrne Arnaud Theatre Management Limited Charity numbèr: 238436 Re8lstered office: Y¥onne Arnaud Theatre. Millbrook. Guildford. Surrey GUI 3UX Key mana8ernent personnel Yvonne Amaud The•tre Management Limited: Dirertors The dI￿ttOr5 and officers serving during the year and since the year end were as follows.. Mr Stephen B•mpfylde Mr Roger Black MBE Mrs Emma Brunjes Mr Andrew French Mr Charles Geffen Mr Peier Gordon Cllr Mr Steven Lee Mrs Vl¥lenne Mather Mr Michael More•Molyneux Chaimian Iresigned 23 May 2024} GBC Repre5entati¥e Iresi8ned 23 May 2024) Key management personnel of Y¥onne Arna4KI Theatre Management Limited: Sen•or stsff Director and Chlef Execull¥e D•rtttor of Finante 17 to the financial statements. Theatre Chairrnan's Report l am pleased to fep)rt this that this has been a year of stea(ty recovery for thealre as we continue to rebuild audiences post pandemic. Attendance for the year continued io improve wilh an average capacity of 58.8% being achieved acros5 the year. In all a 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 Stijdio. 10,423 people took part in a community workshop. event or activity during the year and 3,669 took park in our Creative Learnin8 Programme, making our total number of engagements 134,22 1, a 16% increase on last years attainment. Our vision for the theatre as a cuftural community hub with theatre at its heart received firm endorsement in July, when we were awarded £2.988 million from Your Fund SurTey towards our refurbishment plans. Throughout 2024 and 2025 we will be transforming our public areas to make them more accessible and create additional space for community and creative leèrning. We are extremely grateful for this support from Surrey Covnty Council and their recognition of the key cultural and community role our theatre plays across the county. We look fonward to working with the officers and councillors to deliver our vision for theatre and the many communities of Surrey. Following the award from Your Fund ￿rreV much of the year was spent preparing for the front of house works, working with our design team led by Reed Watts Architects, and advancing our Play Your Part campaign to raise the remainingfunds needed. We thank several Trusts ènd Foundations Inamed in note 41 for their support of our plans. includin8 Fidelity Foursdation. Backstage Trust. Garfleld Weston Found3tion and The Foyle Foundation for their generous support. A special mention mu51 be made of OUT pioneer donors, those bighearted individuals who gave ear￿ in the campat8n to give us momentum and impetus to succeed- Jim Oougla5, Anthony and Carolyn Townsend, Kevin and Anne Overstall. Saxton Bampfylde. In the autumn, two special evenirw We￿ held in the main house in supwrt of the capital campaign. We were delighted that our Patron Dame Judi Dench and Gyles Brandreth visited us in November and Dame Penelope Xerth and Mel Giedroyc in Oecember. 80th evenings played to packed houses and were the h*hli8ht of the Surrey calendar as the Dames and their guests regaled packed house5 With stories of their theatrical careers. Pag¢ 4 YVONNE ARNAUD THEATRE MANAGEME￿ LIMITED Re8iStered N¢. 814453 Report ofthe Dlrertors the ytar endiwd 31 March 2024 Throughout the yearthe main house pro8ramme offered a varied programmeof drama. musical theatre, new work and comedy all bound together by OUT hallmark of quality. This was complemented by an entertaining number of spoken word and music events togeiher with well-known family titles. Highlights of the year included l. Daniel 81oke, 81ood Brothers. Noise5 Off. and And Then There Were None. In the Mill Studio we were pleased to wekome back Short Stories. Tall Tales and Dyad Productions. This was the second year of our three-year grant funding agreement with Guildford Borough Council. The grant reduced again in 2023-24 from £273k to £236.5k. which ￿ntInueS to Impa￿ on our ability to invest in the fundamental operations of ihe theatre. The Council'5 financial position is clearly a cause for concern,. however, the 8rani support the theatre receives from Guildfofd remains critical to the theatre'5 long-term operational success. The three-year funding ag￿ement is intended to protect ihe grant and give the theatre certainty with its financial planning. We welcome on-going dialogue with councillors about their best means of supporting the theatre's on-going operations. The Senior Management team hosted an orientation session for new and re-elerted members of the touncil on the 18th of luty. Eight councillors including the new mayor Cllr Ma5uk Miah. attended and were briefed about the theatre's current work and our future plans. including the capital programme and the Creative Learning Programmes work in Stoke Park a￿1 Ash wards in Guildford. l am proud to ￿port that our Creative Learning pr(*dramme, in keeping with the theatres strategit plan, increased its output again this year. A new role of Community Engagement Producer was added to the department. to support the growth of the progr3mrT7e. New initialrves this year included Careers Days, Shakespeare Primary workshops and Theatre Explorers wothshops wr(h local SEN schools and colleges. We were delighted that our Youth Arts Leadership project which took place across the 2022-23 academic yearwas featured in the Better Lives Through Culture Evoluottion Report produced by Cuhure Box Surrey. 47 Young people from Merstham Park School and Farnham Heath End School successfully Bained their Bronze Arts Award. We a￿ grateful to our Creative Learning supporters including the Alchemy Trust, Guildford Philanthropylcommunity Foundatton for Surrey, The Shanley Foundation and the Boris Karbff Foundation for their support of this a￿8 of our work. With support from s￿r￿Y County Council and our ward councillor we were able to increase the number of workshop bursarie5 to 43 this year. Working with the Surrey SLxial Prescribing team we are creatin8 pathways for people currently experiencing social isolatKJn and loneliness to access creaiive a￿l¥lty. Our established partners now include Surrev Young Carers and 5urrey Action for Carers,. The Hive; Guildford Action for Families- Surrey Independent Visrtor Services,. Guildford YMCA; s￿￿eY Drama Teachers Network and Surrey Social Prescribing Teom. The TnJstee5 are exceptional￿ proud of the growih and reach of this aspect of our wo￿. Elsewhere, the theatre took part in Surrey Day in May hosting BBC Radio Surrey in the morning with our patron Darne Penelope Ker(h. the offer of tours of the bLFihling through the morning and family craft activities. Heritage Open Day in September and two faMI￿-fUn days during the Easter and summer school holidays saw the building filled with families wrth muttiple generations touring back5ta8e and takin8 part in talks and craft activtties. Preparation for the caprtal works. the pressure of fundraising and a challenging touring climate meant that the theatre did noi produce an additional own production this year. However, in the final months of the year. casting and design work began on Party Gamesl 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 iour. Pa8e 5 YVONNE ARNAUD THEATRE MANAGEMENT LIMrrED Registered No. 814453 Report ot the Oirectors for the ￿ar endin8 31 M•r¢h 2024 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 L3ine Theatre Arts. Eostenders and Detectorists star Lucy Benjamin joined regulars Peter Gordon and James Merry in the cast as the Wicked Step-mother. We look forward to a full and busy year in 2024-25, by the end of which we hope to be part way through the transformation of OUT wonderful theatre. I would like to thank all of OUT hardworkin8 and skilled staff and volunteers who bring so much to their lo￿$ and to our Dirertor and Chief Exetutive Joanna Read and Finan￿ Oirectorsarah Gatwartl, for their ￿adership of the or8anisation. Stephen Bampfykle Chairman Our Object and Activities Our Mission A regional theatre with a national reach our mission is to pr¢xluce and present vibrant, outstandin8, entertaining drama forthe many commLFnities of Surrey and the South East. With a thriving studio space and creative learnin8 programme. we are an artistic resource and a cultural hub- a safe Spa￿ foi our many communities. We enable people of all ages across the South to partKipate in the thrill and delight of live theatre. benefrting their health and well-being and realising stronger. more meaningful. social rel8tion5hips and building prosperous and cohesNe communf¢ies. The Yvonne Arnaud Theatre believes that art changes Ir¥es' that eng38ement in arts activity as a participant or an audience member is central to the wellbeingof an individual. to promoting good mental health and emotiorbal engagement and that theatre is a cohesive and s(Kialisbng force for good. The Yvonne Arnaud Theatre enriches the lives of the communities it serves by offerit)g and encouragin8 opportunities for learning, for creatNity and personal and Socbal develowent through its broad programme of theatre and arts actNity. Vision A community and tu￿Ural hub with theatre at its core. Based on.. our Artistic ProBrarnme. Community En8a8ement, Creative Learning Pro8ramme and Cuttural Leadership. Supported by.. Public Engagement,. Cusiomer EXperien￿- Fundraisin8. Public Benefit In shaping our objectives for the year and planning our activities, the trustee5 have considered the Charity Commission's guidance on public benefrt, includinB the guidance "publTrc benefit.. running charity IPB21" The theatre relie5 on 8Tants and the income from fees and charge5 to cover its operating costs. Affordability and acce55 to our programme is central to the theatre's mission and is refle￿e￿ in Our diverse programme, community and creative leaming offer and our pricin8 wlicy LK)th later delailed in this report. Page 6 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Re8isiered No. 814453 Report of the Directors for the year endiry 31 March 2024 The theatre is commFtted to arts partiCipat￿n as a t¢y)I to explore the world, raise awareness, educate, empower. and inspire real and lasting change. The theatre is a major arts and cuhure provider in the South-East and the only producing venue in Surrey. Our work enable5 people from all communities to enjoy and engage with theatre and the performing arts on many levels. The work we programme and produce is intended to appeal to a dNerse and broad range of communities and to promole, by engagement with the work. an understanding antl appreciation of the World and others around them. The YAT Creative Learnin8 Team creates targeted aaivf(ies that focus Specifical￿ on engaging those people who have limited access or opportunities to engage with the arts. This includes farDilies, children and young people who have a low household income or low s¢xioeeonomic status; youn8 carers.. care experienced young peopbe and those who are not in employment. education or training INEETI- adults and older members of the community who may be at risk of harn) or social isolation. We ensure Deaf and disabled people are able to access and en8a8e wi(h our creative learning offer across all strands. Captioned and signed performances for deaf people and the deaf and hard of hearing community as well as a relaxed perforniance for our annual Christmas show are part of our core offering. The theatre 15 regular meeting venue for many arts and activities groups in Guildford and Surrey. Achbevements and perton￿•n¢e The Moin House Progromme The Autumn season presented a strong varbed programme including BloodBrothers. Metamorphosis and Noises Off. which aided an increase in ticket sales. The reswnse to the season was very positive with 6.714 people booking for the first time since the beginning of April 2023. 'Overused epithets of "Awesomel" ond °Amozing" Aor once seemed justified. It wos certointy impresstve ond memoroble theotre'_ Guildford Dra9on. In November we presented Northern stage's powerful moving production of I, DonAel Bloke which had receivetl 5-star review5 and Barnered a standing ovation from its audience at each performance. Alongside the pr0dtsrt￿n, a colkntion was ma¢Je for the North Surrey Food Bank. The Spring Summer Highlights included And Then There Were None and Bonnie ond Ctyde the musical, together with School for Scondal and Twelve Angry Men abngside our established famity programme and some marque name comedy. Productions of Oh Whot o Lovely Wor and Mocteth appealed to our growing secondary school audience. A total of 97 Productions and 338 perfom)an¢es were seen by 115,984 people in the main house during the year. For the first time, the film programme included a Dementia Friendly Screening of Mommo Mio a5 part of a wider initiative for the Theatre to be a dementia friendty venue. To support this. Front of House, café staff and volunteers also undertook Dementia awarene5S training during the year. Our pantomime this year. Cinderello, featured Lucy Benjamin IEostEnders, Cosuolty, Doctors) as the Evil Stepmother with Matt Pinches joining ￿gular5 Peter Gordon and James Merry. The First Night was again an evening for Young Carers and their families. with the Mayor and councilbrs from Guildford Borough Council in attendance. This year, as well as the relaxed perfomiance, a BSL perfofmance and a dementi friendly performance was included in the performance schedule. Cinderella proved very popular with both audience and critics, with over 26.IXKI people watthing the show. Page 7 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Ilegistered No. 814453 Report of the Direclors for the ￿aff ending 31 Marth 2024 'Cinderella is o perfect treot, full offun'_ British Theatre Guide 'All in oll. thi5 rn￿ht be myfovourite Yvonne Arnaudponto to dote'_ Muddy Stilettos Our national tour for 2024. new wjlrrtical come* Porty Gomes! was announced in November with Matthew Cottle being joined by Debra Stephenson. Krissie Bohn. jason Cèllender. Natalie Dunne and William Oxborrow. The tour is confirmed with Windsor. Cardiff. Worthin& CaMbr￿ge, Bath and Malvern participating. Community Engagement ond onimotion progrom During the year a number of new groups established Our café and foyers as a meeting place for their activities, including a Spanish language group and local Oiabetes UK support 8roup. Over 6CK) children and their carers attended the free Popup Play sessions held in the back café every Friday durin8 term time. The theatre took part in National Heritage Day in September and Surrey Day in May, offering backstage tours and talks and chiklren's craft artivtties in the foyers. In addition, Easter and summer family fun days were scheduled offering artivities, trails and theatrKal fun to children and their families and carers. Volunteer5 The theatre continues to rely uwjn a commrtted and friendly group of volunteers, numbering around l(Kl who provide support lo front of house. facilities and estates. creative learning and archives. We are very grateful for their time. Several social event af￿ trainin8 opportunrties 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. Over 4.1XKI people attended a performance in the intimate sludio over the year. Seatin8 only 80. the space is well suited for cuttin8 edge and bespoke programming Servi￿ distinct communities and diverse voices. Notable prlxluctions in the year induded Theatre Centres production of Wish You Weren't Here. Creative Learning Panto Partnership Project Through this yearfs Panto Partnership project. the theatre provided a tot31 of 207 funded tickets to enable young people and families from low-income backgrounds and groups which face barriers to accessin8 the arts from across Surrey. to atlend the openin8 night of Cinderello. Prior to the start of the show. these groups We￿ celebfated in an addre55 by the Mayor of Guildford and received a panto style 'shout-out' durin8 the performance. The 2023 Panto Partners were.. Surrey Young Carers,. the Hive- Guildford Action for Families: Independent Visitor ServKes; and the Guildford YMCA. The schcKJls involved through Surrey Young Carers were Howard of Effin8ham, HO￿ Trinity School and St Peterfs CatholK School. orking with year 6 students h05 been a lot offun in their joyfvl mornents. and eye-opening in their more difficult. The moin thing the closs h05 taught me is thot if you moke o connection with everyone ondbuild trust in you. then the children con do even betterthon they thoughtP055ible.- - Daniel, GSA Applied Theatre BA Placement Student Page 8 YVONNE ARNAUD THEATRE MANAGEMENT tIMITED Re8lStered No. 814453 Report of the Dlrectors for the year endin8 31 March 2024 The department is taking a proactive role in profiling the Ca￿er opportunities in the performing arts and the theatre's role as a gatewaylpoint of entry lo 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 voung people from local secondary schools. In addition, the team I￿k part in Creative Careers, a forum and workshop for careers advisors in the County,. gave presentations for Surrey lob Centre staff and presentètions for work coache5 in the South-East section. "Thonk you so muchfor hosting us yesterdoy. It W05 $0 9ood to hove you there. to shore yourpassionfor performing arts." Kay Vardon, Sen￿r Programme Manager, Discover Creative Careers In our established half-term and holiday workshop programme, we were able to offer Il% of the participants a bursary place to enable them to attend. "X helps to look ofter her disobled brother. She is 0 5urrey Young Carer. This bursory will give her some time to just be herself ondenjoy anything music ond dromo reloted." Parent "X receive5 Pupil Premium Fundin9. Single porent fomily with not o lot of spare money to spend on positive activities like thisl X is interested in MedAO ond behind scenes Stuff so I thought the directing workshop could be t7 goodopportunity." (Home Sch¢￿1 Link w0￿er). In total 208 sessions were delNered, engaging 3,669 children, young people and adults in creative learning opwrtunities. We delivered creative educational workshops and activities to 932 children and young people from acros$ 13 schools and college5 in Surrey. We delivered CPD to 10 teachers from 8 Sur￿¥ based schools and colleges and delivered 57 Arts awards at Bronze (Youth Arts Leadershipl and Introduction IDi%cover Oramal level. Stuffing ond Open7tions Craig Daniels joined as Box Office Manager from the Anvil in 8asin8Stoke. replacing Claire Howes who left in September. A new chef supeThisor and sous chef were recruited in the autumn to ensure a full kitchen team ready 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 ￿Yr￿.5hed. improvements were made to fire routing in the Mill Studio and upper stories cleared. Upgrades to IT support and mo¥in8 to a ful￿ cloud hosted system were also undertaken. The Vanbrugh room was refurbished durin8 the year to bTln8décor and fatilitie5 UP to date. Flnancial review The theatre reported a surplus on normal operations in the year of £46.94612023'. deficit of £344,911). After exceptional grant transfers in the year from Yvonne Amaud Theatre Trust, the theatre reported an overall surplus of £692,483. The iradTrng subsidiaries, results have all been consolidated into the group results. All profits generated by trading subsidkiries are used to assist the theatre charities to meet their objectives. Page 9 YVONNE ARNAUD THEATRE MANAGEME￿ UMITED Re8iStered No. 814453 Report ofthe Dirertws lor the year endir¥ 31 March 2024 Ourpricing poliry Our pricing policy fellects our strategy of enabling all within our community. whatever their means. to take part in our activities and to attend our theatre. We offer discounted rate5 to schools. under 25,5, and low-income groups as well as funded Ino costl tickets to partners in our c￿atiVe Learning Programme and free companion tickets. Discounts a￿ also available for lar8e 8roup trx)okings. Concessions are intended to foster and encourage an appreciation of and engagement with theatre and drama and ensure those from a low-income background can access the arts. Investment powers ond policy The direc1ors. having regard to the liquidity requirements of operatin8 the theatre, have kept available funds in instant access deposrt accounts. Although trustees seek to achieve a rate on depM)sit that either matthes or exceeds the rate of inflation. due to W￿er eC0￿MiC circumstances deposit rates have been depressed and so this aim was not achieved in the year. Cash reserves surplu5 lo day-to-day operatin8 requirements are held by Yvonne Arnaud Theatre Trust and placed on lon8erterm deposits. The invested funds held on deFh)sit aCh￿ved an average rate of 5.(KI%12023= 3.63%). Reserves policy ond 90ing concern Reserves are needed to bridge the gap between the spending and re￿Iving of income and to cover unplanned emergency repairs and other expenditure. The trustees consider that the ideal level of reserves would enable the theatre lo cover a three-month dark period. As at 31 March 2024 this would be £575.(Ul. As at 31 March 2024 the charity has ne8atNe free reserves of £53,85912023: negative £58,080). The theatre has included unrestricted and designated ￿SelveS in this calculation as the dirertors are able to re-des*nate OT return these funds to general reseryes as required. The theatre has Ihefinancial support ofthe Yvonne Arnaud Theètre Group which has a free resetvesf4gure of £1.539.546 as at 31 March 2024. Plans for future periods 2024-25 will be dominated by the front of house capital project. We anticipate the appointment of a contractor at the end of May 2024 with works due to start on site at the end of July 2024. continuin8 until summer 2025. The projecl includes installing a new lift to all floors, new accessible toilets and baby changing facilities, a new mu1t1-wrkv￿e room for creative learning and community use with improved sound proofing. A longer summer dark period is scheduled for symmer 2024 to enable phase one of the works to take place. Thereafter the works will continue dIsC￿etlY whilst the theatre remains open to the public. In lune 2024 we will be holding our first fundraistng gala to support the Play Your Part capital project campaign. July 2024 will see ihe public launch of the fundraising campaign. with just under £9X),(x)o remaining to raise. We will be making our own Yvonne Arnaud Original Production of Porty Gomesl in April 2024. A political comedy commissioned from Michael Macmanus which will tour to Bath. WindsoT, Mafvern. Cambridge, Worthing and Cardiff after opening in Guildford. Our much-bved pantomime for 2024-25 will be Robin Hood. Page 10 YVONNE ARNAUD THEATRE MANAGEME￿ UMfTEO Registered N¢. 814453 eport of the Dirertors fly the year endiry 31 March 2024 Structure. G¢)vem•nce and Manaiement Governing document The Yvonne Afnaud Theatre Management Limited is a company limited ty guarantee and a re8lStered charity. The Memorandum and Articles of AssoCiat￿n. daled 4th August 1964, amended 5kn April 1965 and 8th March 1976, govern the charitable company. The theatre opened ir$ 1965 and lays claim today to be one of the country's leading region31 theatres. Appointment of dirertors The charitable compan￿5 Articles of Association stipulate that there should be not less than nine nor more than fifteen ordinary directors. Guildford Borough Council also has the right to nominate up to two addition31 diiectofs. In accordance with artbcle 28, one third of the ordinary direttors retire from office each year. All retiring directors are eligible and offer themselves for re-election. All directors are abo trustees of Yvonne Arnaud Theatre Trust. New directors may be appointed by the existing director5. the app)intment being subsequently approved by the membeis at the Annual General Meeting. All directors of Yvonne Arnaud Theatre Management Limited must also be members of the charitable company. The mernbe￿ are nominated by the Trustees of Yvonne Arnaud Theatre Trust. The liability of members 15 limited to £1 each. Director induction ond troinin9 New directors are recruited with the aim of ensuring that the balance of 5ki115 and experiente held by board members is maintained and re￿vant to the objectrves of the charity. New d1￿CtorS afe invited to participate in an indurtion process. which includes meetin8 with the theatre staff and 3 one to one with the Chief Executive and Finance Director. An understanding of theatre operations is provided through meetings wilh heads of department and senior personnel. Background papers, including busine55 plans, key reports from funding tr￿dIes. and financial information a￿ provided. Directors are also sent updates from the Charity CommissKJn and a copy of the Good Trustee Guide. Organisotion The board of Yvonne Arnaud Theatre Management Limited l-Mana8ement~I meets quarterly and there are sub-committees covering buildin8 projects, finan￿ and audit, which meet more frequently. Responsibility for the day-to-day Operat￿n5 is vested in the Director and Chief Exetutwe who is appointed by the board of Managemeni. To facilitate effective operations. the Director and Chief Executive has delegated authority. within terms of delegation approved by the directors, for operational matter5 includin8 finance, emphjyment and artistic perfomiance related activity- The bars and restaurant areas within the theatre are operated through a subsidiary of Management, Yvonne Arnaud Theatre (Catering) Limfrted 1"Calerin￿l. Catering is not a registered charity. but Provided it has distributable reseNes, covenants an amount equNalent to any annual taxable profits direct to Yvonne Arnaud Theatre Trust. There is one further subsidiary of Management. Yvonne Arnaud Theatre (Productions) Limited is commissioned by Management to take responsibility for the pre-production, rehearsal and running of all in-house produrtions. Pagell YVONNE ARNAUD THEATRE MANAGEMENT UMITED Re8iStered No. 814453 Report ot the Direct¢Ys for the ￿ar ending 31 Marth 2024 Fundraising With a strong staff team now established and led by David Beale Direclor of Devekjpment, significant funds for the capital programme We￿ raised and pledged thi5 year including support from Backstage Trust, Garfield Weston Foundation. Fidelity Foundation, The Foyle Foundation ar￿ others. Local support was exceptionalty strong with gifts or pledges received from The Ingram Trust and The Patritia Routledge Found3tTron. Several event5 were presented in the main house to raise funds for the Play Your Part campaign. Along with other contributions from indr¥idual donors and trusts. the campaign received £362,621 in the year. Revenue fundraisin8 was also successful wfrth new partnerships fomied with A J Bennewith & Co, Holiday Inn Guildford and Coversure. The year saw ori increased number of Vanbwgh MeMbe￿hIpS afthough a reduction in overall intome due to the death of a number of higher-kvel (knnors. Our offer of a talk introducin8 the season of shows and hi8hl8hts, given by the Theatre Dire￿Or and Program and Product Manager proved popular. The Yvonne Arnaud theat￿ operates an internal fundraising team and does not engage commercial fundraising participants to carry out fundraising attNity. As part of ourcompliance with the General Data Protection Regulations the theatre has reviewed and upyated its prNacy policy. The policy is available at V4ww￿0nne-arn3￿d.cO.uk Tivac l Jic the polKy clearly states what personal data we will hold in relation to supporters and how thts information will be used. The theatre has ￿ceIVed no complaints about its fvndraising activities either during the financial year or sub5equentty. Related porties ond co-open7tion with other organisotions None of our dirertors receive remuneration or other benefit from their work wtth the charity. Anv connection between a director or senior manager of the charity with eFther a production company or production company must be disclosed to the full board of diTeclors in the same way as any other contractual relationship with a third party. Guildford Borough Council provides e$5ential CO￿ funding in support of the artr5tic programme as an amenity forGuildford Borough residents and the public. The fundingagreement was formalised in March 2022 for a three-year period. The theatre ￿pOrtS back a83it)st a number of agreed measures and deliveries. A summary of transactions is set out in note 17 to the financTral statements. Poy policyAor sen￿r stoff The direttors consider that the Board of Directors are responsible for reviewing policy according to the Memorandum and Articles of Association. The senior management team comprise the key management personnel of the charity. in charge of directing and controllin& running and operating the company on a day-to-day basis. All directors give of their time freety and no director received remuneration in the year. Related party transactions are disdosed in note 18 to the financial statements. The pay for senior staff is reviewed annual￿. Where an increase is made, it will be no greater than the percentage increase made to the legal￿ set national minimum wage rates. Given that financial Sustainability is one of the major risks for Ix>th the charity and its subsidiaries, an increase in pay rates will not always be made. Pase 12 YVONNE ARNAUD THEATRE MANAGEMErir LIMITED Registered No. 814453 Report of the Olrectors for the year ending 31 March 2024 Risk monagement The major risks to which the charity is exposed have been identified by the directors and procedures are in place to mitigate them. A formal risk analysis review is presented annualty, and the risk register is reviewed and updated as a INe document with the top risks being presented at each board meeting. In tritical areas. partKUlar￿ those Invo￿1n8 emergency procedures. fire and health and safetv, management ieams conduct regular rneetings on a more frequent basis and ￿gUlaT awareness training for staff working in these operational areas. Directors. responsibilities in relatlon to the financlal ￿aterne• The dirertor5 are responsible for preparing a directors, annual report and financial statements in accordance with applicable law and United King(knm Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the direclors to prepa￿ financial staiements for eath year which grve a true and fair view of the state of affairs of the charttable company and of the incoming resources and application of resources. includin8 the income and expenditure, of the charrtable company for that period. In preparing the financial statements, the directors are required to- selert suilable accounting policies and then appty them consistentty. observe the methods and principles in the Charities SORP- make judgements and estimates thal are reasonable and prudent,. state whether applicable UK accountin8 standards have been followed, subject to any material departures disclosed and explained in the financial 5tatements.' prepare ihe financial statements on the 8oing concern basis unless it is inappropriate to presume that the tharrty will continue in busine￿. The directors are responsib￿ for keepin8 proper accounting records that disclose with reasonable accuracy at any time the financial position of the charrtable company and enable them to ensure that the financial statements compty wilh the Companie5 Act 21￿. They are also responsible for safeguardin8 the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directo￿ a￿ resw)nsible for the maintenance and integrty of the corporate and financial inform•tion Included on the Charitab￿ company's website. Le8islation in the United Kingdom governlng the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Statement as to dlsdosure to our authtovs In so far as the directors are aware at the time of approving our directOTS' annual report.. there Is no ￿leVartI informat￿n, bein8 infomiation needed by the auditor in connection with preparing their report. of which ihe charitable company'5 auditor is unaware. and Page 13 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Re8iStered No. 814453 eport of the Dlrertors fow the year errflibva 31 March 2024 the dirertors, havin8 made such enquiries of felhjw directors and the charitable company's auditor that they ought to have made. have each taken all steps that they are obliged to take as a director in order to make themselves aware of any relevant audil information and to establish that the auditor is aware of that information. Directorf responslbilities In relation to the finanaal statements The directors are responsible for preparing a dirertors, annual report and financial statement5 in accordance with applicable law and United Kin8(k)m Accounting Standards IUni(ed Ki￿d0M Generallv Accepted Accounting Practice). Company law requires the direLtor5 to prepare financial statements for each year which gwe a true anij fair view of the state of affairs of the charrtable company and of the Incoming resources and application of resources. incl*Jding the income and expenditure. of the charitable company for that period. In preparing the financial statements. the directors are required to= select Sultable accounting polic￿5 and then app￿ them consistentty,. observe the methods and principles in the Charities SORP- make judgement5 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 statement5 on the going concern basis unless it is inappropriate to presume that the charity will continue in business. By order of the board of directors sl,4Y Mrstephen ampfylde 6 August 2024 Page 14 Independent Auth¢￿$ Re￿ to the Member5 01 Yvonne Arnaud Theatre M•nagement Umlted for the vear ended 31 Marth 2024 Opinion We have audited the financial statements of Yvonne Arnaud Theatre Management Limited I'the charitable company'l for the year ended 31 March 2024 which comprise the Statement of Financial Activities, the Balance Sheet and note5 to ihe financial statements. including a summary of significant atcounting policies. The financial reporting framework ihat has been applied in their preparation is applicable law and United Kingdom Accountin8 Standards, including Financial Reporting Standard 102 The Financial Reporting Standard appI￿able Trn the UK and Republic of Ireland Iunited Kingdom Generalty Accepted Accountin8 Practi￿1. In our opinion, the linancml statement5'. give a true and fair view of the stste of the charitable tompany'5 affair5 a5 at 31 March 2024 and of its incoming resources and application of resources for the year then ended,. have been Property Prepared in accordance wrth United Kingdom Generally Accepted Accounting Practi￿.. and have been prepared in accordance with the requirernents of the Companies Art 2￿6. Basis for opinion We conducted our avdrt in accordance wrth Intemational Standards on ALJdrting IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable tompany in accordance with the ethKal requirements that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe Ihat the audit evidence we have obtained is sufficienl and appropriate to provide a basis for our opinion. Conclusion5 relatin8 to going concern In auditingthe financial statements, we haveconcluded that the directo￿. use of the going concern basis of accountin8 in the Preparation of the financial statements is appropriate. Based on the work we have performed, we have rK)t Identif￿ any material uncertainties relating to events or Condition5 that. Individual￿ or collectNety. may cast Significant doubt on the company's ability to continue as a going concern for a period of at least twelve month5 from when the financial statements are authorised for issue. Our respk)nsibilities and the responsibilities of the directors with resFÉrt to going concern are described in the relevant sections of this report. Other infomiation The dtrector5 a￿ responsible for the other infomiation. The other information comprises the information included in the directors. report, other than the financial statements and our auditorfs report thereon. Our opIn￿n on the financial statements does not cover the other information and, except to the extent otheTh¥ise explicr(ty stated in OUT report. we do not express any form of assuran conClus￿n thereon. Page 15 Independenl A￿litOrf5 Report to the Mernbets of Yvwne AmaudTheatre Management Limited forthe year ended 31 March 2024 In conne£t￿n with our audit of the financial statements. our responsibility is lo read the other information and. in doing so, consider whether the other information is materially inconsistent wi(h the financial statements 01 our knowledge obtained in the audit or otherwise appears to be materiallv mi5Stated. If we identify such material inconsistencies or apparent material misstatements, we are required to detemiine 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 inforniation, we are required to report that fact. We have nothing to report in this regard. Opinion$ on other matters prescribed by the Companies Act 2(M)6 In our opinion. based on the work undertaken tn the course of the audr1= the information given in the directors, report for the financial period for which the finantial statements are prepared is consistent with the financial statements- and the directors. re￿rt has been prepared in accordance with applicable k8al Tequirements. Matters OD ¥¥hkh we are required to report by exception In the light of our knowledge and understandingof the charitable company and it5environment obtained in the course of the audit, we have rbot identrfied material mi5Staternents in the director5. report. We have nothing to report in respect of the following matters in relation to which ihe Companies Act 2(￿6 requires us to rewrt to you if. in our 0￿.n￿)fi- adeqvate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited ￿ us- or the financial statements are not in agreement wrth the accounting record5 and returns- or certain disckisure5 of directors, remuneration specified by law are not made,. or we hève not receried all the information and explanations we require foT our audit. ftespon5ibilities of dbrertors As explained more fulty in the directors, responsibilTties statement, the directors are responsible 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 directors detennine is necessary to enable the preparation of financial statements that are free from material misststernent. whether due to fraud or error. In preparing the financial statements. the directors are reswnsible for assessing the charf(able company's ability to continue as a going concern. disc105in& as applicJble, matters related to goin8 concern and using the going concern basis of accounting unless the directors either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but lo do so. Pa8e 16 Independent Audltorfs Report to the Members ofyvmne Amiud Theatre Man•oeffleTrt Limlted lorthe year ended 31 2024 Audltorfs responslbllltles for the •udit of the fimncial statements I￿r objectives are to obtain reasonable assurance a￿￿t whether the financial statements as a whole are free from material misslalement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a hwdh level of assurance. t)ut is not a guarantee that an audit conducted in accordance with ISAS IUKI will a￿ayS detect a material misstatement when it exist5. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial 51atements. Irregularf(ies, including fraud. are instances of non-compliance wrth laws and regulalions. The extent to which our procedures are capable of detectin8 irregularities, including fraud, is detaI￿d bebw. Extent to whi¢h the audlt was considered capable of detecting iffegularities, Including fraud The objectNes of our audit, in resp￿ to fraud. are: to identify and assess the risks of material misstatement of the financial statements due to fraud,. to obtain Sufficient appropriate audit evidence regardin8 the assessed risks of material misstatemenl due to fraud, throu£h designing and implementing appropriate responses.. and to respond appropriate￿ to fraud or suspected fraud Klentified during the audit. However, the primary responsibility for the prevent￿Th and deteCt￿n of fraud rests with both those chaT8ed with governance of the entrty and its rnanagement. Our approach was as follows: We identrfied areas of laws and regulation5 that could reasonably be expected to have a material effert on the financial statements from our general commercial and sertor experience, and through di$￿SSion wilh the directors and other mana8ement las required by auditing standards), and distussed with the directors and other management the w)licies and procedures regardin8 compliance with laws and regulations- We identified the following areas as those most likely to have such an effect.. health and safety,. General Data Protection Regulation IGDPRI- fraud,. bribery and corruption and employment law. Auditin8 Standards limit the required audit procedures to identrfy non-compliance with these laws and regulat￿n$ to enquiry of the directors and other management and inspection of regulatory and legal correswndence, if any. We considered the *al and ￿gUlatOry framework5 direcily applicable to the financial statements reporting framework IFRS 102 and the Companie5 Acl 2￿6 and the Charriies Act 20111 and the ￿levant tax compliance ￿gUlatIonS in the UK- We considered the nature of the chafitable company'5 operations, the control environment and business performance.. We communi&ited idenirfied laws and regulations throughout our team and remained alert to any Indicat￿nS of non-compliance throughout the audit.. We considered the procedures and controL% that the charitabbe company has establlshed to address risks identified, or that otherwise Prevent. deter and detect fraud,. and how Sen￿)r management monitors those programmes and controls. Page 17 Independerf Atsdltorfs Report to the Members of Yvonne knud Theatre Manalement Limited forthe year ended 31 Muth 2024 8ased on this understanding we designed our audit procedures to identfy non-compliance with such laws and regulations. Where the risk wa5 Considered to be higher, we performed audit procedures to address each identif￿d fraud risk. These procedures intluded.. testing manual journals; reviewing the financial statement dTrsclosure5 and testin8 to supporting dotumentation.. performing analyt￿al procedures; and enquirin8 of management, and were desgned to provide reasonable assurance that the financial statements were free from fraud or error. Owin8 to the inherent limitations of an audrt. there is an unavoidable risk ihat we may noi have detected some material mi5Statements in the financial statements. even though we have properly planned and performed our audtt in accordance with auditing standards. For example, Ihe further removed non- compliance with laws and regulations lirre8ularitiesl is from the events and transactions ￿flected in the finantial statements. the less likely the Inherent￿ limited pr¢xedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error. as Iraud involves intentional concealment. forgery. collusion. omission or m1srepresentat￿n. We are not responsible for preventing non-compliance and can1￿t be expected to detect n0n-cornplian￿ wrth all laws and regulations. Use of our report This report is made solety to the charitable companrfs members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2(J)6. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to State to them in an auditorfs report and for no other pury)ose. To the lullest extent permitted by law. we do not accept or 855ume responsibility to anyone other than the charitable company and the charrtable compan￿$ members as body. for our audit work, for this report, or for the Opin￿nS we have formed. Mark Cummins FCCA Isenior Statutory Auditor) for and on behalf of TC Group Slatutory Aijditors Office.. Sussex Dated- 6 August 2024 Page 18 YVONNE ARNAUD THEATRE MANAGEMENT UM17EO Registered No. 814453 Ststernent of Financial Arti¥ities lincorporatlni incixTre and expenditure account) Fow the Year Ended 31 March 2024 2014 2023 Total Funds Fuhd$ Fuhds tknotlQlls ondleqocies 163.703 10.2 173.903 2C8,396 Choritoble crtivities - Operation of Main House - Creative Learning Prograrnn 4.177,395 10.444 4,187,839 196,199 21,626 217,825 4.373,594 32,070 4.405,664 3.915,614 29.073 3,944,687 Otherrrodsng ortryities External set buil*Jin8 - Vanbrugh Supporter yjbscr1pt￿S . Management char8e$ 10 5ubydia 30mi 50,iS6 131.711 211758 30.891 50.IS6 131.711 212,758 36,147 56.972 3S,741 128,8E4) lftvestment iK¢Nme. bon* fftterest 2.396 2,396 375 Total Inc¢ 4,566,696 228.025 4.794.721 4.283,318 Expendllure on.. Choritoble ortivities - Operatv)n of Main House . CreatNe Learning Proyamn 14,454,968I 1159J41I 14.614.3091 1107,075 126.3911 1133.t1661 14.562.0431 1185.7321 14.747.775) 14,526.6051 101.624 14,628.2291 Totsi expendllyre 4.562.15131 1185.7321 4,747,775) 14.628,229 Net incomellexpendY(urel Grant traftsfers f¥om YAT Trust 4.653 42.293 645.537 46,946 645,537 1344,9111 25 Net mo%*meNt in fvnds io 4.653 687,830 692.483 1344.911 Recond1￿0￿ offund5: Toial fuThds brought forward at 31 March 2023 Total funds carr*d fornard at 31 Wrch 2024 23.25 286,408 291.C61 287.W8 979.491 631.919 287,riJ8 688.430 The Statement of financial artivities includes all gains and losses reco8nised in the period. All income and e¥penditure derive from continuin8 activitie5. Page 19 YVONNE ARNAUD THEATRE MANAGEMENT LIMITEO Registered No. 814453 Balance Shed as at 31 Marth 2024 2024 2024 2023 2023 Nole Fixed Assets Investments 17 Tangible fixed assets 18 344.920 344,925 444,483 Current Assets Debtors 19 681.476 928,539 1.610,015 365.727 440,671 806.398 Cash at bank and in hand 20 Creditor5.' Amounts fallin8 due within one yeav 21 1975.4491 1963,878 Net Curreni Loabllllles 634.566 1157.4801 Total a$5ets le55 current Ilabllltles 979.491 287,¢J)8 Nei Asséts 979.491 287,008 Funds Unrestricted 8eneral funds.. Designated funds Restrirted fynds 23 24 25 118.561 172.5D) 688.430 113,908 172.5Th) 979,491 28?,￿)8 These accounts have been prepared in accordance with the special provisions of part 15 of the Companies 2C(J6 relating to small companies. The accounis were approved by the ￿ard on 6 August 2024. Mr Stephen B pfylde Page 20 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Re8iStered No. 814453 Notes to the Accounts forthe Year Ended 31 March 2024 l. General lTrlMnatlon The company is a charitable company Ilimited by guaranteel both registered with the Charity Commission and incorporated in England and Wales. In the event of the charity being wound up. the liability in respett of the guarantee is limited to £1 per member of the charity. The address of its registered office is Millbrook, Guildford, SurTey GUI 3UX. A¢countin Policies The principal accounting policies adopted. judgemenis and key sources of estimat40n uncertainty n the preparation of the financial statements are as follows= lal Basis of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151 (Charilies SORP IFRS 10211. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 21x16. Yvonne Amaud Theatre Management Ltd meets the definrtion of a public benefit entity under FRS 102. Assets and liabilities a￿ Initial￿ recognised at htstorical cost or transaction value unless otherwise stated in the rekvant accounting policy notelsl. Ibl Preparation of the accounts on a going concem basi5 The directors continue to closety monrior the theatre's income and cost5. as well as considering other plans to increase income in future years. Audiences hove been slow to return to their pre-pandemic ￿ve1$ and the uncertain economic outlook ￿ntInueS to be an area of financial uncertainty. The (lirectors have mitigated these risks by re¥￿WIng the artistic programme and reviewin8 pricing policies and discounts offered. The director5 remain in regular contact with the grant making local authority15ee note 151 to secure their ongoing financial support. The forecasts predici that the charitable company will be able to continue a5 a Boin8 concern for a per￿d of ts¥e￿e months from the date on which these accounts are signed. Based on the forecasts. the d1￿ctOrS telieve that it is appropriate to prepa￿ these accounts on a going concern basis. Icl Income Income is recognised when= The charity has entit￿ment to the fLtnds. Any performance condit￿nS attached to the itemlsl have been met. It 15 probable that the income will be receNed, and The amount can be measured reliabty. Page?1 YVONNE ARNAUD THEATRE mANAGEmEP￿ UMITED Re8iStered No. 814453 Notes to the kcounts for the Year Ended 31 Marth 2024 Accountin Poli¢•es contsued Icl Income Itontinuedl Income from commercial trading activities is retognised as the related goods and seryices are provided. Income is deferred when admIss￿n fees or perfom)ance grants are received in advance of the performan￿ or event to which they relate. Where a show straddles the year- end. box office revenue relatin8 to that show is refleded in the accounts in which the majoritv of perfom)an¢es fall. Income from government. local authority and other grants, whethef -CaPltal" grants or "revenue" grants, is ￿(o￿niSed when the charity has entrilement to the funds, any perfomiance condit￿nS attached to the grants have been met, it is probable that the income will be receNed and ihe amount tan be measured reliably and is not deferred. Idl Don3ted seThices and facilities Donated professK)nal sery￿eS and donated faciltties are recogntsed as income when the charity has wntrol over the item. any condr¢ions associated with the donated item have been met, the receipt of economit benefrt from the use ￿ the charity of the item is probable and that economic benefÈt can be measured reliably. On receipt. donated professional setvices and donated fatilities are recognised on the basis of the value of the grft to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market- a corresponding amount is then recognised in expendrture in the period of receipt. (el Interest receivable Interest on funds hekl on deposit i% included when receNable and the amount can be measured reliably by the charity: this is normalty upjn notrfication of the interest pa￿ or payable ￿ the bank. If) Fund accountin8 Unrestricted funds are available to spend on activities that further any of the purposes of the charity at the discretion of the directors. Restricted funds are donations which the donor has specified are to be used solely for particular areas of the charitys work. 181 Operating leases Rental charges paid under operating leases are charged on a straight line basis over the term of the lease. Ihl Expenditu￿ and ir￿CO¥erable VAT Expenditure is recogni5ed when- There is a legal or construciive obli8ation to make a paymenl to a third party, It is probable that settlement will be ￿quIred, and The amount of ihe obligètion can be measured reliabty. Page 22 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Registered No. 814453 Notes to the Accounts for the Year Ended 31 March 2024 Ac¢ountln cofttlnued Ihl Expenditure and irrecoverable VAT Icontinuedl Expenditure is dassif￿d under the following aLtNity headin85: Costs of raising funds comprise the costs of commercial trading. Expenditure on charrtable artivities includes expentlituTe a550ciated with stage production5 and educational programmes ènd iriclude both the direct costs and support costs relating to these actNities. The dirert expenses of a show straddlingthe year end are refkned in the financial statements in which the majority of performances fall. Irrecoverable VAT is charged as a cost against the ctivity for which the expenditure was irKurred. lil Allocation of support costs Support costs are those fUnCt￿n$ that assist the work of the charity bui do not directty undertake Charitab￿ Jctrvities. Support costs include back Offi￿ costs, finance. personnel. payroll and 8overnance costs which support the charity's art15tic programmes and activities. These costs have been alk)cated against charitable aclivities in proportion to the direct costs incurred for each of the cate8orFes of Charitab￿ actNities. lj'l Redundancy costs Redundancy costs are recLyAnised at the point where the charity is committed to making the payment in return for employee redundancy. Ikl Investments Investments in subsidiary undertakings are included in the atcounts at cosl, less provision for impairment. 111 Tangible fixed assets Individual fixed asset5 C05ting £5(M) or more a￿ capitalised at cost and are dep￿cIated over their estimated useful economK lives on J straight line basis as follows.. Improvements to leasehokj premt5es Fixtures and fittings Computer equipment 10 to 20 years 5 years 4 years Im) Stocks Consumable goods are written off in the year iri which the expenditure is incLtrred. In) Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaKJ net of any trade discounts due. lol Cash at bank and in hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 23 YVONNE ARNAUD THEATRÉ MANAGEMENT UMITED Registered No. 814453 Notes to the Attounts for the Vear Ended 31 Mawth 2024 Accountin Poliues ¢ontinued Ipl Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event ihat will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliabty. Creditors and provis¥)ns are normally recognised at their settlement amount after allowing for any trade discounts due. Iql PensKJn costs The pension cosis charged in the financial staiements represent the amounts payable by the charitable company during the penod to defined contribution pension schemes operated by insurance Compan￿$. Irl Group accounts The financial statements kvesent infomation atK)ut the charitable company as an individual undertaking and not atrM)Ut its group. See note 28 for details of consolidated atcounts prepared by the Ultimate Controlling Party. Isl Summary of disclosure exemptions The tompany has taken advantage of the following disclosure exemption in preparing ihese financial statements. as permitted by FRS 102 ￿he Financial Reporting Standard applicable in the UK and Republic of Ireland" The requirements of Section 7 Statement of Cash Flows Donations and le 1024 2023 & Des*n*ed Yvonne The31￿ TrL￿1 163.703 10.2CQ 173.9)3 110.383 YJ,013 163.703 10.2Th) I73.￿3 110,383 99.013 209,396 Pa8e •4 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Registered No. 814453 Notes to the Accounts lor the Year Ended 31 March 2024 Creative Leamin rfomiance rant5 20Z4 Lknrestrkted Re5trKled Tgtsl & De5iy*ed 2023 U￿￿tr￿ted Restrltted Totsl & Oesioat eative Leafning Grant Fundirvd". TheAlchem¥ Founda1￿￿ The ArtsAward AC￿$S FLtnd 6.576 6.576 12, 12.5 Bernard & Joyce Coleman cr The Boris Kadott Foundation Community Feundatim &Jrrev The GreycourtTrust The Ratclrffe cr The Rowan Bentall CT 250 29) The Shanley Foundaiion Surrey County CourKil Prr¥ate [kIr￿S 21.626 21,680 21,ÉIA) 21, Now in tts third year the Creative Learning program continues to grow. Through a range of workshops, one off event5 and targeted projects. the theatre provides creative activity for groups and individuals who have limtted access or opportunrtie5 to engage with the arts. In 23-24 children and young people were supported to take part in holiday workshops ihrough the theatre'5 bursary scheme. Funded tickets for panto were provided for local partner groups including Surrey Young Carers. the Hive Community Centre, Guildford Action for Families and the Guildford YMCA. The Discover Theatre Project designed for SEN students, supported pupi15 at Gosden House to achieve the Explo￿ Arts Award. Famity Fun Days provided opportunities for children and their parent51 carers to take part in a range of activtties at the theatre, while Creative Careers events and backstage tours enabled young people to learn more about careers in the creative industries. Restricted grants of £21,62612023.' £21.6￿) were ￿(eNed in the year towards these creative learning projects. Main h miance rants 2024 2023 iknrestrlcted Rèstrirtd Ti*4 & 0È5i8nated UThrestrlcted Restricted & Designated T¢)tsl Guildlord 8orough Council Apprenticeship fundir¥ 23&5fy1 236.5Tr) 273.IKKI 273,COJ 236,5CIJ 237.C 273,￿￿1 2,CQO 275.OtK) Page 25 YVONNE ARNAUD THEATRE MANAGEMErir LIMITED Registered No. 814453 Notes to the Accounts for the Year Ended 31 March 2024 Income from charitable xtivities Lknrestykted Rt5trided Total & tWa¢ed St*5￿1¢ed OForath)N of Main Hwse &)x office I￿0￿ Prcouction comw*ssioning Restoration Le F￿drIl￿n& support Fr￿d$ ft*mtorships dry incoff* Perlom4rKe grants Isee Th)te 51 3.319,326 503.977 3.319.326 503.977 195.699 16.637 29.025 71,930 237,1 196.193 4.373.594 2.882.711 720.221 2.882,711 720221 195.693 16.637 29.025 71.930 236,5LK) 4.177.395 25.013 7.169 273,m) 3.913.614 25,013 7.169 275,LKN) 2.LIYJ 3.915,614 Creati* learni￿ pyiwamme Worksh)p incoff Perlom)arKeyants Isee Th)te41 io. 7,473 7,473 21,6LMJ 29,073 21,626 21,626 21,680 32,070 21.fO) 21.E4XI 10.444 7,473 4,187339 217.825 4,4￿.664 3.921,087 23,￿0 3,944,687 Other tradi arti¥ities and investment income The income frorn other trading activities and investment income for the 2023 comparative year was all unrestricted. Ana isofex nditure on d￿rItable artI￿￿e5 The expenditure on charrtable artrvrties was E4.747.77512023'. £4,628,229) of whith £4,562.043 12023.. £4,506.2161 was unrestricted and £185,73212023.. £122.0131 was restrirted. Page 26 YVONNE ARNAUD THEATRE MANAGEME￿ UMITED Registered No. 814453 Notes to the Accounts for the Year Ended 31 March 2024 Anal isofex nditure on charitable activities continued 2023 eati¥e iearnlry Tou Production cosis Irre¢oveTabSe VAT Production co￿15$￿)ning fee Production coffpany grant Staff costs 1,735.648 296,325 410,127 2.029 1,735,648 296.32S 410.127 2,029 68.162 68,162 2,5 2,572 62.732 2.232,912 133,466 4,747,775 1,736,624 197,76S 5Y),Oii 1.784 1,736,624 197,765 550,011 53,448 53.t148 2,322 2,322 45,854 2 086.275 101,624 4,628,229 Othercreatrye learning diiect costs Go¥ernance & support Inote 91 2.170.180 4.614.309 2,040.421 4,S26,605 i50f (wernarKe and s Ad¥ertising & publ￿ Staff costs Property ￿$ts Ollice costs prole5s￿nal fees Depreciation & loss ¢)n di¥Kwl TTavel and sub5iStence Bank & credrtcard charges Bad Debts 285,721 I.(￿3.247 433,884 139.027 24,805 126.188 12.937 54,797 5,434 111,852 2.197.892 285.721 I.IX13.247 433A84 139.027 59,825 126.188 12.937 54.797 5,434 111.852 35.020 2.232.912 311.502 954.122 415.291 138.597 17,408 126,749 311,502 954,122 415,291 138,597 28.408 126,749 35.020 ii.coj 39.720 1.997 64.089 2,075.275 39.720 1.997 64.089 11,(x)0 2,086,275 IrrecoverableVAT The charitable company alhxates its governance and supwrt costs as shown in the table above and then further apport￿nS those costs tr*tween ihe two charitable activities undertaken (see note 81. These costs are allocated on a basis consistent with the use of resource5. Page 27 YVONNE ARNAUD THEATRE mANAGEmEP￿ UMITED Re8iStered No. 814453 Notes to the Accounts for the Year Ended 31 March 2024 10. Movement in totsl fvnds the 's is stated afterchaw'ngihe lolowin8-. 2024 2023 Depr￿latIOn of tan￿ble fixeil a55els AL#lilC*S' rÈrrtunefalioTr- e￿erTraI a￿141 Operatln8 leases- reftt Staff iosis Inote 121 126.188 11.750 89,￿5 1.412,197 126,749 12,(K 83.751 1.413.807 The charity is exempt from tax on income and gains falling within seCt￿n 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains ALt 1992 to the extent that these are applied to its charitable objects. 12. or remunerallon and ex and the cost of k mana ement rsonnel 2024 2013 Wa8esand salaries Kial security costs her pe￿oll costs 1,288,248 91.234 32,715 1.412,197 1.293,523 85.736 34,548 1,413,807 The amount forwages and salarie5 of cast. musioans, stage management and casual staff included above wa5 £363.115 12023.. £430.8021, inclusive of social security costs. Such persons are not employed on a regular basis throughout the year and do not appear in the staff numbers table (note 131. No compulsory redundancies were made in ihe year. One employee receNed emoluments in the range £70.￿1 to £80.1￿ and one empkjyee received emoluments in the range £80.￿1 10 £90.(￿ durin8 the year 12023.. one employee received emolurnents in the range £70,(N)I to £80.c￿ and one employee received emoluments in the range £80,￿1 to £90.(KM)l. Pension contributions of £16,58212023.' £16.2991 were made on behaff of the higher paKI employees. None of the dirertors received any reMunerat￿n orexpenses during the current or previous years, in their role as directors. Page ?8 YVONNE ARNAUD THEATRE MANAGEMErir LIMITED Re8iSteYed No. 814453 Notes to the Accounts for the Year Ended 31 March 2024 12. Staff tosts dirertof remunefation and ex continued and the cost of k ma ement 50nTrel The key management personnel of the charity tomprise the directors, the Theatre Director and Chief Executive, the Director of Finance. the Director of MaTkeiing and Customer Experience and the Director of Development. The total remuneration of the key management personnel of the charity was £314.fA)112023= £271,6691. 13. Staff numbe The average rnOnth￿ number of persons emKAoyed under contracts of servKe by the charf(able company during the year, excluding cast. musicians and stage management was as follows.. 2024 1023 Managementand administraiion Box office an(J front ol house ProductK>n 14 13 Creatibt Learnir* 28 26 14. Pension costs Since I. July 2014, employees of the theatre have either re￿iVed a contribution into a pre-existing personal pension scheme as agreed in their contract of employment or an auto enrolment pension scheme that complies wrth government ￿gISlation. The theatre has incurred iolal pension contribution costs in the year amounting to £32.715 12023= £34.5481. This cost rep￿sented payments to defined contribution pension schemes for ihirty-frye empbyees12023= thirty-ei8htl. At the yearend a balance of £5,886 was due to the penS￿n provider12023.' £4,9)6 due to the pension providerl. IS. Government Grants Income from government grants Comprises perfomiance related grants made by the local authority to fund the artistic and theatrical wogramme of Yvonne Arnaud Theatre Management Ltd. 16. Related rt tTansartlo The charity receives fundin8 of £236,5C()12023- £273.(ml from Guildford Borough Countil to enable the charity to carry out Its objectives. The Council has the right to nominate up to two directors. All the funding was received to provide services and has been includetl in the financial statements under incoming resources from charitable activrties. Page 29 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Re8lStered No. 814453 Notes to the Accounts frx the Year Ended 31 March 2024 16. Related transactions continued In the year ended 2024. one of the directors. Mr Peter Gordon, was paid £18.IM12023'. £18,CMJ)I for his role in the pantomime. Ctinderello. This payment was cakulated and made on normal commercial terms. The charity undertook the followin8 tranSaCt￿n5 during the year with its parent ccmnpany and subsidiary companies.. Inter-entity tran￿cl￿n5 during the year to 31 Marth are asfdlow5= 2024 J123 Y￿￿The Arnaud Theatre {CateriTr￿ knmited Managemenl Charge receI￿ab}e Balance due tollfroml YAT Manage￿￿nt Ltd at 31 March 131,711 40,682 35.741 61,114 Yvwne Amaud Theatre (Productwjftsl Limtred Grant payable Commissioftin8 inct¥ne rtceivable SU￿c￿M￿lS5l0n1ThRfee payable Loan payable io YAT [PrOdu(t￿n$￿ Ltd at 31 March 8alarKe due tollfvoml YAT Management Ltd at 31 March 12,0291 503,977 410.127 125,681 91,821 11.7841 720.221 550,011 125.6811 170,840 Yvonne Arnaud The*re Trust Grant receivab 179,132 I40,0￿} 121.425 Reni payable Balance due tollfroml YAT Managenpnt at 31 March 140,WJI 104,018 17. Inveslments At the year-end, the charitable company holds ILTh of the ordinary share capital of Yvonne Arnaud Theatre (Catering) Limited and Yvonne Amaud Theatre (Production51 Limited. both of which are registered in En8land and Wales. Companv number 2024 2023 Cost at 31 March 2023 and 31 Ma￿h 2024.. Yvonne Arnaud Theatre ICaterin81 Limited Yvonne Arnaud Theat￿ (Prodvclionsl Limited 847430 1925822 Page 30 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED e8iStered No. 814453 Notes to the kcounts for the Year Ended 31 March 2024 17. Investments ntinued The following infomiation is relevant for each subsidiary undertaking- TuvrK>¥w ExpeThJltwe PmlltllLo¥l for for year ended ca￿ and resef%*s * Jl-Mar-24 314*lw24 31-Mar-24 31-Mar-24 y¥￿The Arnaud Theatre {Caterin￿ 595,820 $99,2&) 57,620 Yvonne Arnaud Theatre IProductK>n51 Limited 410,127 25,681 The profit for the perKid is stated after dedurtH)n of annual covenants, grants receNed from the parent undertakin8 and corporation tax. The directors have taken advantage of the exemption conferred by Section 4CIJ of the Compan￿5 Art 2(M)6 and Section 139 of the Charities Art 2011 from the requirement to prepare group accounts as its results are consolidaled into the accounts of its parent. Yvonne Arnaud Theatre Trust. Theatre wtyksh¢)p. office and catering e4uipment Impro¥ernents to leasehold Cfynputer equipmff*t Pfemises Trtal Cost: At 31 March 2023 1.157,263 52.245 3.635 5.038 $0,842 278,744 22,990 113,957 287.777 1,488.252 26,625 18,9951 1.495,882 Additions Disposa15 At 31 March 2024 1.157.263 Al 31 March 2023 Charge lor the year Oepreciarion on disposals At 31 March 2024 731.169 112.810 276,3(M) 5,519 13,957 267,862 L043,769 126,188 18,995 1.150.962 7.859 5,038 39.121 843.979 Net book value: At 31 M3rch 2024 313.284 11,721 19,915 344,920 At 31 March 2023 426.094 15.945 444,483 Page31 YVONNE ARNAUD THEATrE MANAGEMENT UMITED Rewstered No. 814453 Notes lo the Act¢unts for the Year Ended 31 Marth 2024 19. Delrtors 20Z4 2023 Trade debtors 69.898 104.0 132,503 13,799 361,258 681,476 11.307 Y¥onr* Am•Jd Theatre Tr￿st Amounts due from subsid*ry undertakiws oiher debtor5 Prepayments 231.954 967 121.499 365.727 Balance5 due from I￿th the parent and subsidiary undertakings are unsecured and interest free with no fixed date for repayment. 20. Cash Of the cash balances hekl at 31" March, £469,294131" March 2023= £463,7161 is for advance ticket sale5 in relation to future shows. These amounts are held on behalf of third parties. 21. Creditors: amounts fallin due within ¢Jne PtharKe I￿kIr￿S Trade creditor5 YvonneArnaud Theat￿ Trust Amouftts due to sUbsid￿ry undertakn. Orher credftofs 469.294 143.447 463.716 64,S22 21,425 25.681 102.621 25.681 48,863 22.592 265,572 975,449 Other taxes and social S￿urIty kcruals and deferred ir￿0 259,229 963.878 Balances due to both the parent and subsKliary undertakings are unsecured. interest free at)d have no fixed date for repayment. Page 32 YVONNE ARNAUO THEATRE MANAGEMENT LIMITED Re8iStered No. 814453 Notes to the Accounts for the Year Ended 31 March 2024 22. Deferred inc 20Z4 2013 Opening balance at l April 2023 Arnounts deferred ITh the year Amount released to incoming TeyxJrce5 Ch)sing balance at 31 March 2024 468.732 473,7C 468.732 473.7CX) 366,883 468,732 1366.883 468.732 Oeferred income includes office bntome in advar)ce. and grants which the donor has specIf￿d must be used in future accountin8 periods. 23. Reconciliation of Movement •Th total funds- Unrestrirted funds IbKomt •nd expendlture •rcount Brwght forward at l Awil 2023 Incoming Re50urce5 Oul8oing Resourtes Carrled forward at 31 March 2024 113. 4.552,993 118.561 24. Recon¢lllatl¢)n ot Movement in total lunds- Desi n*ed funds Ttthnical Buildiry 5ta8e refurt>lshment Equlpm*ni Total 8rou8ht lo￿4rd at l Aprbl 2023 Incomi￿ Resouice5 Ovtgoin8 Resources Carried forward ai 31 March 2024 172,5CiI 172,5rxJ 13,703 113,7031 172,51X> 13,703 113.703 172,SCM) Funds of £13.703 were received the year from a designated reserve in Yvonne Arnaud Theat Trust towards the depreciation charge on the theatre's dimmer li8htin8 System which was replaced at a cost of £445,301 in 2018. A transfer of £172.5￿ was made in the year to 5 April 2LK12 to a designated technical sta8e equipment fund. This is to provhle the necessary funds to replace the CoUnterwe￿h1 ftying system in the main theatre auditorium. Page 33 YVONNE ARNAUO THEATRE MANAGEME￿ UMITED Registered No. 814453 Note$ to the Accounts for the Year Ended 31 March 2024 25. Reconciliation of Mo¥emerf in total funds- Restricted fvnds Cleati Total Brought forward at l April 2023 IrKom*ry Resources Out8oin£ Resources Carr*d forward at 31 March 2024 332,201 lo,2(￿ XO. 10.2LKI 29,9)7 21.798 8.7Q3 1.254 873,562 185,732 688,430 178.%7 RestoratK)n levy funds Colle￿ed through box Off￿ and previously transferred to Yvonne Arnaud Theatre Trust are being retained in Yvonne Arnaud Theatre Management Ltd. for use against ongoing building refvrbishment. Funds in the year have been used to cover the depreciation harge on trx)th the audttorium refurbishment project completed in 2016 and dimmer li8hting replacement in 2018. in addition to the refufbishment of the Vanbru8h room completed in summer 2023. Total funds of É10.2￿{2023'. £99.0131 were received in the year from Yvonne Amaud Theatre Trust from a restricted grant received towards the dimmer lighting replacement. Thi5 restrirted grant is being written off to match the ten year write down of the capitalised c05t5. Yvonne Arnaud Theatre Trust transferred the £sC(J.C￿ produrtion fund reserve thai it held. to Yvonne Amaud Theatre Mana8ernent. This fund was created in the year to 5 April 2019 to enable the new Theatre Director and Chief E¥ecutive the ability to start producing and touring the theatre's own work. There is a si8nrficant demand for good quality drama on the national touring tircuit and a lack of product. Producing OUT own work will enable the theatre to develop its audience by providin8 high quality drama and maximise the investment in ihe work through touring the work io other venues. Although a strong production can improve financial perforniance, there is a greater level of risk and need for initkil investment. This fund is allowin8 production opportunities to be explored. A Brant of £6.57612023.' £6.3611 was transferred from Trust to cover the cost of tickets used to invite young carers in the Guildford area to the openin8 nW)t of the pantomime CAnderello12023.- Jack ond the Beonstolk) and to offer bursary assisted plates on our drama workshops in the school holidays. Funds eame from a £25.1KKI grant received from the Akhemy Foundation to enable wo with youn8 disadvantaged people who would not otherwise be able to participate in such opportunities. The balance of £8.281 Alchemy funds was transferred to Yvonne Arnaud Theatre Management in the year and will be used in 2024-25 on this funded ticket scheme and stjpwrted workshop pla￿s. Pa8e 34 YVONNE ARNAUO THEATRE MANAGEMENT UMITED Registered No. 814453 Notes to the kcounts for the Year Ended 31 Mar(h 2024 25. Reconciliation of Mo¥ement in totsl funds- Restricted funds continued The £29,90712023.. £21.6￿} received towards the Creative Learning programme. which includes the balance of £8,281 Alchemy Foundation funds transferred from Trust, ha5 helped to fund the third year of our activities engaging groups and individuals who hève limited access or opportunrties to engoge wrth the arts. The donor organisations providing grant funding to make thTrs work possible and the detaib of the work undertaken this year. a￿ provided in note 4 to the accounts. Funding of £5W12023.. £2,(KK)I has been received as a resuh of the apprentice scheme. We are tTainin8 a young person enrolled in a CreatNe Venue Technician training course with Chichester College and have Teceived incentive funds towards his two year apprenticeship with the theatre. 26. Anal is ol I￿1 assets between funds 2024 2014 2023 2023 tknrestrKted Re5tiirted ￿feStrkned Restrkted & Des*nated Fixed a¥ets and 1nve5tr1h￿ts Current Jssets Current liabilities 344,92S 921.585 1975.4491 291.(￿1 688,430 5,798 963.8781 286.408 688.430 27. Commitments urmler leases At 31 March 2024, the charitable company had commitments under non-cancellable operatin8 leases as set out below: 2024 2023 Operatin8 leases which expire". Within one year land ar¥J buildings Two to five years land and butldings 160.(LN) 160.fKK) Over five years land and buildin8S 186,667 226.667 The amount of r￿￿-CancelIable operating lease payments ￿¢08ft15ed as an expense durin8 the year was £40.C￿12022: £83.7511. Pag¢ 35 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Re8iStered No. 814453 Notes to the Accounts for the Year Ended 31 Ma￿h 2024 28. Ultimate controllln The ultimate controlling party is Yvonne Amaud Theatre Trust, an unincorporated Charity whose principal place of business is in England Ichèrity no- 21X15LXJI. The principal purpose of the Trust is to promote and improve the arts and to stimulate public appreciation in such art5. Consolidated accoijnts including the results of Yvonne Arnaud Theatre Management Limited and its subsidiaries, are prepared by Yvonne Arnaud Theatre Trust and are filed with the Charity Commission. 29. Post4•laThce Sheet Events The Yvonne Arnaud Theatre Trust Board undertook a review of the governance of thè theatre group in the yearto March 2024. A decision was taken to reBister the ¢harrtable ursincorporated Yvonne Arnaud Theatre Trust as an incorpor3te(I charity limited by guaraniee. The objects of the in¢orporated Yvonne Arnaud Theatre Trust remain unchanged- to advance the arts for public benefrt through the provision, maintenance and support of the Yvonne Arnaud Theatre. The limited by guafantee company was re8lStered with Companies House on 21° Febfuary 2024 l¢ompany number.. 155104621 and recewed Charity Commission approval with effert Irom 30 April 2024 under a new chanty reg15tration number Icharity registration.. I208L￿61. Incorporated Yvonne Arnaud Theatre Trust is not sei-up as 3 member of Yvonne Arnaud Theatre Management. An asset transfer agreement has been completed, formal transferrin6 all assets and liabilities from the old unincwporated YAT Trust (charity number.. 2￿5￿> to the new incorporated YAT Twst with effect from I" June 2024. As mentioned bn the Trustees report, 2024-25 will be dominated by the front of house capital project. Contract(￿5 have been appointed and are dueto 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 year when the conirartors will be given unfettered access to the theatre building, the theatre will remain open throughout the prqert. Incorporated Yvonne Arnaud Theatre Trust are taking full responsibiltty for the works and plan to offer grant support to Yvonne Arnaud Theatre Management to help with the loss of intome during the 12 dark weeks.