Companies House THEATRE ENLEY MANAGEMENTSOUETY LIMITED DIRE ' AND TRUSTEES. REPOR FINANCIAL STATEMEpirs THE YEAR E140ED 31 AUGUST 20Z4 'ADY8SftH7• 1*V03f2025 C(XIPANIES HCIISE 1111 KENTON THEATRE HENiE .THAMES EMENTsoaETY IMITED YEAR ENDED 31 UST2024 Page Legal and A(knini5tTrtive Inlorrnat￿n Report ofthe Trnstees and Dirett+yS >5 Statement of FlnarKlal Pthiit*s Statement of Financk41 Poytlon Notes fomiing part of the Financial Statements 14 Independent Éxarnlr*￿S Report Is MEPIT ADMIt45TrAnvE INF RMATION FOR THE YEAR TO 31 A 24 Constitution: Kenton Theatre IHenley-on-Thamesl Management Society Limited i% a corryany hrnited by8uarantee and a ¥egistered Llidiily ¥t)vEined by Its memoranduiil ot associalioii. Cornpany NUrn￿r906767 Charity reg15tered Numbei 253021 Trustee5= The Trustee5 during the finarKial year and since the year*r￿ were as follows.. Sarah Bell John Beckefleg (resigned 14 ¢)ttobef 20231 Julie Huntington Laura Law lappointed 26June 2023. resigned 7 August 20241 Tara maC￿d Stephanie Maxwell Dennis Oliver Anthony Sanderson (appointed 5 February 20241 FK)na Sander50n Judrth ferry (resigned 24January 20241 Chair.. Tarn Macleod Treasurer.. Arythony Sander50n (appointed S February 20241 Johfi 8e£kerleg Ire51Ened 14 Ortober 20231 Theatre Mwwger: Lottie Pheasant Rtgisiefed oific•: 19 New 51reet. ￿en*￿n-TharneS. ftG9 2BS Banker5: 8arclay5 Hart Street Henley-ofvTh•mes RG9 IAX CCLA senator House 85 Queen VKtorfja st￿et London EC4V 4ET Page I KENTON THEATRE HE￿LEy￿-T•lAmÉs PAANAGEMENT SOOETY LIMED ÉGAI Af4D ADM114STrATIVE INFORMATION NnN I AUGUST ZOZ4 Indep•nd•nt Examiner N M Smith BFP. Aci ￿A Villars Hayward LLP Chartered Accountants Chartered Tax Advlser5 RegIste￿d Auditors Boston House Henleyon-Thame5 RG9 IDY Page 2 KENTON THEATRE HENlEY￿m-TH￿mES MA14AGEMENT IMITED REPORT THE TEES ANO DIH£ FOR THE YEAR TO 31 AU 14 The Trustees, who a￿ also the direaors of the char¢tyfor the p￿r￿Se5 of the CornpaTries Atts. are pleased to piesent thelr port togeiher with ihe linancial siatements of the chariryfor the year ended 31 August 2024. The legal and administratwe informat•)n set tyjt on page i forms part of this report. The financk41 statements comply with curreTht statutory requirements. the rnemorandum artille5 of assocotK*n and the Charities SORP 'Accounting and Reporting by Charit￿5.. 5ratement of Recomrnended PrartKe applicable to charitie5 preparinK their financial statements in accordance with the Financial ReportinK Standard FR5102 Ihe Fina￿{31 Reporting Stsndard applicab￿ in the UK and RewblK of Ireland includingthe provi5iOn5 of SeciK)n IA-Small Entths- •nd the Compan*sAtt 2C#J6. structur The Charrty is toffistituted as a ci)mpany Ilmlted by guarantee and is iherefore governed ￿ a memorandurn and artitle5 of association. A board of trustee5 of up to nine members administers the charity. and they a￿ effl￿￿Wered to appoint a Mana6ement Committee ro carry oui the day-to-day work of rnnning the theatre. Trustees are apwinted by the mernbers at the AGM and rwire ty rotai*?n. Casual vacancies rnay te filled by eo-optiofi by the existing Board. subject to forrnal elecits)n at the AGM. The trusteescontlnuousfy review tt* risksto whichtl* tl*atre may becomeliableand the implementation of legal and othef requirements. Ob"e(ti¥e5 4n I r tht l>ublic Benefft The tompany was formed in 1967 and the ff*morandum was arnended ￿ 2((Xl to read Tr company ￿ established to prtsrnote, m41ntain. improve and advance education. partKularly by the produrtion of educatit>ftal plays and the encovra¥ernen¢ of the Arts. Including the arts of drama, mime, darKe. sin8in8 and MUSK, and to formulate. prepare and ¢stablish %hernor therefore. and io promote the rcpoir, rcitoiation and preservation for the ￿lief1¢ of ttie niltiun tsf buitdir¥s of beauty or hlstoric interest and in particuU•r of the Kenton Theatre. HeM￿Y-on-T￿3meS in the County of Oxfortt. Secttyjn 4 of the Charities Act 201112L￿￿ requires ihe charity trustees to comply w¢(h their duty to have due ￿lard to the publK benefit guidance publ+shed by the Charity CommtssH?n in exercsing their powers or dtrties. The Iru5tees eonhrm that they have referred to ihis guidance when reviewingthe organisatlon's aims and obiertives and in planning future attivf(ses. Athievements and Perfo The refreshed boardcame into effectAugust2023. sothe resultsof the5efinancial 5tstements isthe outputotthis new board and the relatlvely new theatre rnana¥er. Many ioint initiative5 were taken to stabilise the business which Included cost cuttin& Investment In infrastruttvre, ￿$tructUriNg from free￿ncers to pemwnent stsff. improved financièl monitorin& improved programrning and stfeamlining processes. Examples of this includes-. Secvring a 2fkyèar low-interest rate toan of £IC￿.LIXI from HenSeyTown Council to lacih.tate cash ftow Outsoyrcing our accounts furKE￿n to ensure consisterKV. depth of knowledBe and rigour Redesign ol the brand ideniiiy to improve rnodern￿ and applKation flexibillty Relaunch of the website to facilitate marketing effectP1e￿55 and offtl￿e bookinL i¢Kludin£ smart phones usage Iniroduction ol a CRM system Impro¥ed ottKe space includifig the additi'tsA of three new desks lrnproved protramming in£ludihg the introductb?n of Cornmun￿ focussed inr(iatNes like Kenton Carob ar continuing 511PPOrt 0124 eommunTty8roups The first 8rani of the newly created communrty fund. to The Chdtem Centre. which a55i5ts local 8fthJps who Ire nder-repre5enteJ in the arts This has r¢s￿￿ed in total revenues of E718.CQJ in the 2Q23-2024 accounting year which is a year-on-year irKrease of 43%. The theaire hosted 111 indNiduil produttions. the same number as in ihe previous year. However. it also repre5ent5 252 performances. an Increase of 12%. The nurnber of iicket5 501d w•$ 29,226 which rs an increase 0113% year on year. PaBe 3 KENT014 THÉATA HENLEY4)P4-THAMES MANAGEME SOCIETY IIMITEO REPORT FIHE TRusfEES AND DI NT114UED FOR THE YEAR TO 31 A Having incurred a loss of £189.￿0 in the 2022- 2023 accountin8 kWK)d we have rK)w managed w pull thls back to a kjss £30,000 in 2023-2024 and are aimin8 for break even in 2024-2025. The theatre's pool of volunteers continues to be vital ttl the proper futlttionin¢ of the the3¢￿. We currently have 145 volunteer5 which is an increase of 40 peopk comp3rod to the prevh)us year. The Board is very grateful for the importani contribjtyofft they make. The theatre will continueto build Ihe rwjmberof ￿￿￿teerSa5theV3re (undar￿ntaI to our success. in l Revlew This was a sienrficantly more successftsl yeaf financolty than the previDUS period. Revenue was markedty up at £718.449 12023- E502.0451 and the deficit for the period was £31.604 whKh is a sigTrrf￿0ftt improvemeni on 2023 when a defKit ol E189.851 was incurred. It has been necessary to restate the resuks for 2023 10 irKlude the impatt of the quantir￿atIon ol an historic VAT problem. The liability proved io be largerthan had been amicipaied ai ihe time of preparing the 2023 financial ststements and the previou5 year ha5 teen restated to refkn this. Although a de1￿1t was reported in this period the Twstees are confthnt that the steps being tsken to run the theatre on profess￿nal ba515 will ieturn the theatre to a break even pos[t￿n withifi the near fvture. A signrficant elemenr in the improvernent in f4nanei¥l performance has come from 5ub5CriPtiort Ik)nat￿n$ and grants wh￿h were f 72.726 in the year 12023- E8,9101. The Trnstees are extreme￿8r31eI￿l lor support given by the many people and organisatson5 to the Theatre. and this will remain an important part of the irt•me of the theatre going forward. Members wdl be aware that the theat￿ requires 4niknnt (aprtal investment in the r￿ar fvture and Twstees are working hard to secure 8rant fuThdiDg in 5UPPOrt of thi5. The Theotre has unre5trirted reSe￿S 01 £283.314 ond restrKted reseffts of £60.691. The company has received a term loan from Hen￿YT0￿rn Council whKh will alow the theatre ihe opportunity to rebuild its reserve5. Repayment of th￿ loan will ¢ommerKe in September 2025. Ttustees. R•s ons•bilbties in Relatlon inantial siaiements Company law requtres the trustee5 to prepare financial ststements thatgive a true and fairview of the state of èffaiis of the charityaithe end ofthe finarKial yearandof its surphjs ordefriiforthe fvwrKial per￿d. In doingsothetrustee$4re required to.. select 5Uitable accovntinB poltt*sarbd then app￿tI1￿M con515tent￿T.' make jvd8ernents and esiimates that are reo50nablE 4nd prudeni.. prepare the li￿￿(1a1 stathmenis on I1￿ go￿8 EorKem b4sis unkss il is inapptopriate to wesume that the charity will Continue to operate. The trustees ale responsible for rnaintainiry proper accounmg records thch disckne with reasonab￿ accurocy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act Z006. The Trustees are also responsible for safeguarding the assets of the tharity and herKe for tskin¢ ieasonable steps for the p￿ventIon and detection of fraud and ot￿r IrreguL3rities. Pol The Board olTrustees have rev*wed the compan*s re5er¥es p￿1Cv. The trustees consider that the company should retain reserves sufficient to cover three months basic running costs. At the year end this target had not been ￿t. However. since the year end. the ta5h position ha5 imprtsved the trustees art of the opinion ihat the re5eNes positKJn is satisfactory. Page 4 I(ENTON TM ATRE HEN IHAM MANAGEM ETY LIMITED REPORT OF ThE 7RUSTEE5AI•D DIRECTORS CONTINUED FOR ThE VEAA TO IAU A resolulion will be pr¢p05ed at the Annual General Meetiry that ViMar5 Hayward LLP be re-appointed as independent examinerto the charity forthe ensuing year. 8y order of the Trustees T M Macleod Chair ol the Trustees Date.. ]/ /6025 Pagt S NT THEATRE MANA EM NT IETY LIMrrED STATEMEP4T OF FINANc￿LA￿v￿£s LIIDI INCOME RE ACCOU FOR THE YEAR ENDED 31 AUGUST2024 nd5 flote Unresthtted Unrestrirted General naied Restrthd Total Fund5 1.8.24 31.8.23 INCOME AND eNDOWMEP47S FROM: Sub5cripiions. donations & grants 72.727 72.727 8.910 Qther troding Ortivitses Trading Operat￿nS 111.9J6 Ill,￿6 90.525 Invesrrnent5 286 Charltable activbties Incornefrorn operaiion of the theaire 27,960 533.816 402,324 Total 690.491 27,960 718.451 502.045 EXPENDITURE ON: Charitable artiviti￿. Trading operatK)ns Costs of operation of the theatre Management and adMinistrat￿Tr costs Gtsvemanet costs 32.185 425.267 229.769 3.750 32.185 484,346 229.769 3.750 35,435 462,712 189.911 3.750 5.599 53.480 Tot•1 I6￿.971) ￿5.599) 153.4801 1750,050L .1691.808J. Net Ir￿￿e1(e￿pend1turej belore traffjfer5 15,gJ91 125.520 131,5991 1189.7631 Gross transfer5 between funds Other recognlsed gainslliosse51 Gain￿lI￿$Se51 on investment assets io 1871 Net i￿￿elle¥pend￿Urej after Ir￿ 14801 15.5991 125.5201 131.5991 1189,8501 Reconcli iation of lurds: Total Funds brought forward- 05 re5toted Totsl Fund5 rarriedfonward 255.013 254.533 86.212 60.692 375.609 344,010 565,459 375,609 28.785 Pa8e 6 tTIlUN IMtAIHt tr4LEY-UP>TMAME5 PaANA(3tMEf￿ 50CIEfY UMIYED STATEMEPrt OF FINANCIAL P1>5lloN AT 31 AUGUST 2024 31.8.14 31.8.2a as restated FIXED ASSErs Tangible Assets for Charity Use 536.637 505.174 CURRENT ASS￿5 Stock Debtor5 Short Term Dewsits Cash ar Bank and In Hand 14 15 16 8.387 51.836 237 123.435 3.586 60,229 237 90.939 183.894 154.991 CREDITORS Amounts fallin8 wtthin one year 17 1281.5211 1244.5551 NEf CURRENT ASSETSIILIABIUTIES) TOTAL A5SET5 LESS CURRENT LIABILITIES 197,6271 189,5641 439.010 415.609 CREDITORS Amounts fallin8 due after more Ihan one year 18 195.CO)I I40.0￿) ASSETS 344.010 375,609 FUNOS OF THE CHARITY Unrestricted Restritted 19 19 283.318 60.692 289.397 B6,212 TOTAL CHARITY FUPXIS 344.010 375.609 The company is entitled to exemption from audr( Under 5ectM)n 477 of the Companies Att 2(￿ fof the year ended 31 Au8USt 2024. The trusteesldirectors ha¥e not fequired the companyto obtain an audit of its financial statements for the veaf 31 August 2024 in accordan￿ wtth 5￿tIOn 476 of the Compan￿$ Art 2(￿￿. The trustees/dIrecto￿ acknowledge their resr•)nsibilities tr. lal ensuring that the company keeps accounting records which complywith Sections 386 and 387 of the Companie5 Act 2006 an* Ibl preparing financial statements which 8ive a twe and faif view of the srate of affairs of the companv as at the end of each financial year and of its surplLts or deficit for each financial year in accordance wfth the requirerTTrents of Section5 394 and 395 and which otherMri5e compFy wtth the quirements of the Companies Act 2rx)6 relatin8 tofinancial statements. so far as athicable to the company. These financial statemenis have been p￿pared in accordance wfth the prowsions applicable to companies subjen to the sma51 companies re8ime. The financial statements We￿ approved bythe Boafd of Trustees and authorised for issue on T M Mcleod Chair of the Trustees A Sander50n Trustee Page 7 KENTON THEATRE HENLEY4)N-THAMES MANAGEMENT SOCIETY LIMrrED NOTES FORMING PART OF Th£ FINANCIAL ￿ATEMENTs FOR THE YEAR ENDED 31 AUGUSf 2024 ACCOUNTING POLICIES The principal accounting policies are summarised below. . Basis ol preparing the financial slatements The financial statements have been prepared in accordance with the Charities SORP IFRSSEI 'Accounting and Reportin8 by Charitie5'. Staternent of tfecomrnènded Practice applicable io charities preparing iheir financial statements in accordar)cewith the Financial Reporting Siandard FR5102 Yhe Financial Reporting Standafd applicable in ihe UK and Republic of Ireland includin8 Ihe provisions of Section IA -small Entities- and the Companies Act 2tKJ6. The financial statement5 have been prepared under ihe historical cosr convention. b. Fund actounting General Fund5 are unrestricted funds. which are available for use at the di5¢retion of the Irustees in furtherance of the general objectives of ihe charity. The Oesignated Fund is an unrestricted fund created by the trustees at their discretion for a specific purpose. Restricted funds are fvnds which are to be used in accordancè with specific restrictions imposed by donor5 or which have been raised by the charity for particular purposes. The cost of raising and adminisiering such fvnds are chaiged against the specific fund. The airn and use of each resiricted fund are sei out in the notes to the financial Statements. Income All income is reco8nised in Ihe 5￿tement of Financial Artivities once the charity has entitlement to the funds, it is probable that the income will be received, and the arnount can be measured reliably. The following specifit policies are applied to particular categories of income.. Voluntary income is received by way of members. subscriptions. donations and grants. Members. subscriptions income is credited to the Statement of Financial Attivities when it is recLyved. No adjustment is made in respett of subscriptions outstanding or received in advance. Donations are included in incoming resources when they are recetved. Grants are inclutled in incoming resources when they are receivable except where the donor5, conditions in respect of grants received for 5pecbfic services have not been fulfilled, then incorne is deferred until receipt. or where the grant is interHled to co¥er a period of time beyond the date of the Balance Sheet. in 5uth cases income is allocated on a pro rata basis. Gift aid reclaimable on donations to the charity is included as received. The value of services provided by volunteers has not been included in these financial staiernents. Investment inctsme rs included when received by the tharity. Thè incorne from fundraising is shown Kross. with ihe associated costs included in fundrarsing costs. Incoming Tesoufces from charitable activitie5 are received by way of theatre rentals and productions which are include(l in the year in which the letting or production takes place and all other income is induded in the period in which it is re￿IVed. d. Expenditure Liabilities are recognised as expenditure as soon as Ihefe is a legal or constructive obligation committin8 the charity to ihat expeftditufe. it is probable that a transfer of econom*c benefits will be required in settlement an(1 the amount of the obligation can be measured reliably. ExpenditurÈ Is accounted for on an accruals basis as a liability is incurred. net of VAT. All costs are allocated between the expenditure cate8orie5 of the Statement of Financial Acii¥ities on a basi5 designed to reflect the use of the resource. Where costs cannot be dirertlyattributed to particular headings, they have been allocated to atti¥ities on a basis consistent with use of the resource.'The netting- off of expenses and related income 15 only undertaken where the values are not rnaterial. Page 8 KENT TRE HENLEY-ON-THAMES MA14AGEME14T SOOEYY UMITED S FORMING PART OF THE FINANCIAL ￿ATEmENTs continued FOR THE YEAR ENDED 24 d. Expenditure {contiThuedl Costs of generating funds comprise ihe costs associated with attracting voluntary income and the costs of fundraising. Charitable expendiiure comprises ihose costs incurred by the chariiy in the delivery of its activities and services for its benefioaries. It includes both costs that can be allocated directly to such activitie5 and those costs of an indirect nature necessary to support them. Governance costs include ihose costs associated with meeting ihe constitutional and statutory requirements of the charity and indude the Independeni Examinerfs fees and tost% linked to the strategic management of the charity. Tan8ible fixed a55ets and depreciation Fixed assets are recorded at cost less accumulate(I depreciation_ The costs of minor additions are not capitslised. Depreciation 15 provided on tangible fixed assets at annual rates calculated to write off the cost over thèir Èxpected useful economic life as follows.. Freehold Property Improvements to Property Fixlures & Fittings Computer equipment over 25 year5 15% on reducing balance 33% straight line Stock Stock is included at the lower of cost or net realisable value. LEGAL STATUS OF THE CHARirY The charity is a company IiTnited by 8uarantee and has no share capital. The liability of each rnember in the event of winding up is lirnited to £1. Page 9 KE14T014 THEATRE IIEf4LEY-014-TMAME5 MAIIAfjEMENI E'IY LIMllkU IES FORMING PART THE FINA14aAL5TATEMENTS ntinu FOR THE YEAR EP40ED 31AUGUST20Z4 Voluntary in(orne. sul>xriptl(rf￿d￿n•ilons &gf Total 31.8.24 Funds Total 31.8.13 Funds as restated General DesyHleil Fyfids Funds F￿n0$ Grants Theatre Friends. subs(riptpJns tk)nations 31.963 1.405 39,359 72.727 31,963 1,405 39,359 72,727 1.158 7,752 8,910 Tradlr¢ operatyons Income Irorn bar sa￿5 and sales of confettionery afid coffeeltea 111.9 111,906 90,525 C05t of bar 5ale5 and 5ale5 01 cofifert￿nery and coffeeltea 32,185 32,185 35,435 In¥estmerrt Snrome Interest on COIF Investment Funds Interest on COIF Cash Oep)￿t 8ank interest 262 24 286 Income from opefation of the tt*atr• Letting income Production5 and bookinKfees Pahtomime ticket sales Fundraising and spon50Y5hip Other income Cornmunity fund Rechaiged technical servKes Restoration Itvy 63.098 293.341 114.274 11.555 10.139 63.098 293,341 114.274 11.555 10.139 6.990 6.460 27.960 53.123 21M,499 91,932 20.989 5.897 1,256 24.628 27.960 505.856 27.960 533,817 402,324 Costs of opefatlon of i￿theatre Productions. costs Irrecoverable VAT- Production costs Caretakerl¢leanin£ legal* professional and consultanry ftt5 FuftdraisiTrg costs Repairs and ￿newa1$ Marketingand advertising Telephone Light and heat Rates and rubbish collectw)n Inetl IT & Technical 8LlX office admiNstratron Provision for doubrful debt Irrecoverable VAT Hire of eouipment Depreciation and amorknsation 246.870 25,956 7.955 246,870 25.9S6 7.955 253.794 2.403 7.233 3.102 3.102 36.836 50.431 36￿36 29.747 54,082 1.302 8.279 8,592 11.881 1.681 200 67,587 50.431 28,740 5,563 19.314 28.740 5.563 l9.314 4.oc 18.C&3 s￿19 23.918 3.505 18,301 1.876 5.599 10.826 15.931 425.267 5.599 53.480 484,347 462.710 Paee 10 KENT014 THEATRE HENiEY4JN-THAMES MA14AGE EIIT RMI PART FTHEFI TATEMEKIS FOR niE EPI E031A Mana8erneni and 4dministrnthn Costs Totsl Funds 31.8.24 Total Funds 31.8.23 as restated Funds 4$ Funds Theatre Management- 5alarie5 ett Insurances Bank & credit card charges Box Office hrtanagement Bookkeeping Box office computer costs Support for community grcwps Fines and penalties Miscellaneous e￿nSeS Irrecoverable VAT 131.457 10.495 13,451 27.288 131.457 10.495 13.451 27,288 14.067 20.555 1.510 775 5.049 5.121 229.769 116.369 13.848 10,542 19,548 6.808 18.723 20.5SS 1.510 775 5.049 5.121 229.769 4.073 189.911 Go¥eMolI￿ ¢0sts Independent Exam￿￿$ fees 3.750 3,750 10. GaShslllosgesl on Investment Assets Unrealised 8ainll1o￿j revaluatHJn of in%￿strnents 1871 11. St•ff costs and trurt8*5' remunemion lil avera￿ numberof employees during theyear was 1212023- 71 Total tsnds 1*.24 Total Fund5 31.8.2 as restated Funts A•rKIs osts of staff, induding Émpkjyer's NIC 158.746 158.746 135.917 liiil No Trustee of the cornpany receNed remunefation in tespctof thEirtrusteeship or foTalbY Other services éurin8 the year. Trustees may be reimbJr5ed fortra¥el and 5imilai costs uKurred Iwl*ie daimedl tr￿t dur￿& the year noihing was repald to any tru#ee12023 f nill. IZ. Movernent in total fvnd5 lor th* yt¥ 31.8.24 31.8.23 s restated This is stated afterchar8ing'. Depreciation and Amortisation 18.301 15,931 lfidependent Etsmirte¢s Fee-e￿erna1 scruDny 3.750 3.750 Page 11 KENTON THUTRE HENLEY-ON-THAMES TÉS FORMING PART OF THE FINANCIAL STATEMENTS ontinued FOR THE YEAR ENDED 31 AUGUST 2024 13. Tan