Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E Company registration number.. 01113093 Charity number.. 266128 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) MENZIES BRIIJA TER InlNrilN
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) CONTENTS Page Reference and administrative details of the Company. its Trustees and advisers Trustees. report Independent auditor's report on the financial ststements Statement of financial activities 7-10 11 Balance sheet 12 Statement of Cash flows 13 Notes to the financial statemonts 14-29
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 JUNE 2021 Trustees Richard Humphreys, Chair of OTTL Kate Ellis, Vice Chair of OTTL Duncan Tatton-Brown, Chair of Finance Committee Rosalind Sweeting (resigned 9 December 20201 Carolyn Backhouse India Semper-Hughes Harriet Vadey Robert Lisney Victoria Kent Anita Arora lappointed 19 October 20201 Company registered numbor 01113093 Charity registered number 266128 Registered office and Prin¢ipal offi¢e 1 Glarence Street Richrnond Suirey TW9 2SA Company secretary Hanna Streeter Independent auditor Menzies LLP Chartered Accountants Centrum House 36 Station Road Egham Suirey TW20 9LF Bankers Royal Bank of Scotland PLC Richmond Surrey TW91DF Solicitors Harbottle & Lewis Hanover House 14 Hanover Square London W1RO8E Page 1
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2021 The Directors, who act as trustees lor the purposes of charity law, have pleasure in presenting their report together with the audited financial statements for the year ended 30 June 2021. STRUCTURE. GOVERNANCE AND MANAGEMENT The Orange Tree Theatie Lirnited (the Chaiityl is 8 iegisteied chaiity governed by its Article5 of Association and a cotnpany Iirnited by guarantee. It Is headed by the Board of Directois, to which the Art15tic Directoi ICEOI and the Executive Director of the Orange Tree Theatre report. The Finan Committee, consisting of certain Board members and the Executive Director, also reports to the Board. The company's registration number is 1113093 and its registered charity number is 266128. The registered office is 1 claren Street. Richmond. Surrey, TW9 2SA. A separate charitable limited company, the New Orange Tree Theatre Trust. owns the freeholds of the theatre and 47 Kew Road (its rehearsal space and workshop). both of which are CuentlY leased to be used by the Gharity. The role of the Board of Director5 IS to oversee the direction and activities of the Charity, including its policies and procedures, to ensure that they are in accoidance with it5 charitable objects. The Board 5et5 and monitois the stiategic direction tsf the Charity, although the Initial preparation and Implementation of any strategy is achieved through the Artistic Director, Paul Miller, and the Executive Director, Hanna Streeter. The Board continues to meet at least quarterly. The Board approves the annual budget after it has been examined in detail and approved by the Finan Committee. The Theatre's Heads of Departments manage their own budgets under the supervision of the Artistic and Executive Directors. The Board receives reports from these Directors to enable them to measure the Charity's performance against budgets and targets for the year. The Trustees review and approve any inflation on staff salaries. Inflation is set according to ststutory levels. Regular benchmarking is carried out with Ihealres of a similar scale. Amy increases to key managernent personnel are proposed by the Finance Committee and approved by the Board. The Finance Committee is chaired by Duncan Tatton-Brown and tlleets at least quartedy ahead of each Board meeting. 2020 comprised regular extraordinary finance meetings with Duncan Tatton-Brown, Richard Humphreys, the Artistic Director ICEOI and the Executive Director due to the outbreak of the Covid-19 Pandemic. This is outlined further down in the report. The Board has given due consideration to the Charity Commission's published guidance on the operation of the public benefrt requirements. The Director3 of the Orange Tree Theatre Limited gave of their time freely and received no ernolurnents during the year. None of the Directors was reimbursed any expenses (see Note 81. In January 2020, to further diversify our govemance, workforce and audience5 we foirned a Diversity and Inclusion Su committee of the Btsard, comprising four Trustees," India Semper-Hughes (Chairl, Anita Arora, Carolyn Backhouse and Victoria Kent, with a focus on the following foul areas". Governants and permanent staff diveisity," The content and authorship of the work on stage, Diversity of freelance employees", Safety and protection for all employees. The committee meet quarterfy, Iwo weeks in advance of each Board meeting, and now reports to the full Board at each lull Board meeting. Induction papers covering the role and responsibilities of truslees are provided to new Directors and governance updates are provided as required. ACTIVITIES, OBJECTIVES AND PU8UC 8ENEFIT The prinoipal 8Ctivity of the Charity is the operation of the Orange Tree The81re IOTI. The chaiitable objects of the OT are principally to promote, rnaintain, improve, and advance education, patticulaily by the production of educational plays and the encouragement of the arts. The general aims and objectives of the OT are.. To produce theatre of a national standard throughout the year, at affordable prices . To promote new writing and rediscoveries of neglected work To engage with the community as widely as possible through education and participation programrnes To encourage the development of ernerging artists As outlined below under Achievement 8nd P8rforrnance, th8 Di18Ctois a18 satisfied that these objectives continue to be met and satisfy the public benefit test. Page 2
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 DESCRIPTION OF THE ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT ACHIEVEMENTS AND PERFORMANCE In M8r¢h 2020 the Covid-19 Glob81 Pandemic unfolded and on 16 March the theatre was forced to Close to the public. The remaining 2020 spiing season was cancelled, a5 well 8s 811 education and p8rtiCiP8tion activity, 8nd the decision was taken to hibernate foi a period unbl It was safe to reopen. Several steps were taken in response to the crisis and to secure the theatre's future. Nearly all staff were furloughed via the Job Retention Scheme until 31 October 2021. We received Iwo business grants via London Borough of Richmond upon Thames of £25,000 and £12.500, emergency funding of £35.000 from ACE, took out a Coronavirus Business Interruption Loan of £150,000, received a Culture Recovery Fund ICRFI award of £770.000 to cover core costs, loss of income and reflation of reserves from November 2020 until 31st March 2021. followed by a second CRF award of £380,000 for sIS belween April 2021 June 2021, which was extended to cover the period until December 2021. SubseqLJently. 8 third CRF giant of £230,000 has been awarded for 21122 Iinan¢ial year to er wsts belween Novernber 2021 - F&biu8ry 2022. 78Qlo of advance ticket income was either tumed into credit or donated to our Survival Fund, rather than refunded. Survival Fund donations for the year was £39,400. In the 21122 year this became the Recovery Fund and has raised £36,500 to date. During lockdown we grew our OT On Screen offer to maintain engagement with the OT and lo generate new income. We screened the 2017 Under the Orange Tree interview with Dame Judi Dench and re-broadcast our Actors Touring Company Co-production of Amsterdam, having had to cancel the national tour. The Mikvah Pject. which was in production when we closed. was audio recorded for BBG Radio 4's Lockdown Theatre Festiv81. We hosted an online OT Extras of Jonny and the Baptists. who gigged from an unspecified location 8S 8 '1ive from the OT,, and played lo 134+ people in their hornes. In Auturnn 2021, when restrictions allow8d, we 18sumed in p8tson Youth Theatre and Young Company groups, Wlth lower capacitie5 and safety protocols in place. As Tier restrictions were brought in, we moved these to online classes in November 2020 lor the remainder of the academic year. In January 2021, during another national lockdown, we carried out essential Maintenan and safety work on the buildings and removed the bench seating from the theatre auditorium to install a temporary socially distanced seating when audiences were pemiitted. We began rehearsals for digital versions of Romeo and Juliet and M8cbeth for schools. These were filrned in February by The Umbrella Rooms and given to schools free of charge with wraparound activity, in the absence of secondary school student5 experiencing live theatre. In March-April 2021, we embarked on a pilot live-streaming project. Inside/Outside took place over four weeks, with six playwrights (Sonali Bhattacharya, Deborah Bruts, Zoe Cooper, Kalungi Ssebandeke, Joel Tan and Joe White) commissioned to write short plays lor the stage and screen. Initially conceived for live aUdIenS as well, the project was adapted for screen only, and employed directors (Anna Himali Howard and Georgia Greenl, 10 actors and 10 creative and stage freelancers. with the aim to spread several opportunities within the freelance community, who had been hit hard by the pandemic. We partnered again with The Umbrella Rooms to capture and live stream four perforrnances of Inside and four performances of Outside. over the month. Having Irialled different platforms and ticketing methods. we launched our own OT on Screen streaming platforrn using Spektrix to sell tickets and hosting on the OT'S website with Brackets Digit81. Captioned and audio described perform8nGes weie available. 1.631 people tuned in lo watch the shows live and we look £17,987 8t the box offi¢e. On 22nd May 2021 we reopened to the public along with many other theatres that week. With a redUd capacity of 70 seats140Q/o of full capacity), we opened with two short comedies by Bernard Shaw as a double bill - How He Lied To Her Htssband and Ovenuled, both directed by Artistic Director Paul Miller. The bar remained closed and a new entrance into the auditorium, that avoided audience bottlenecking in the intimate bar foyer, was created. This production was live streamed and made available on demand with OT On Screen and The Umbrella Roorns as the first in our commitment to stream all shows in the Recovery Season. Page 3
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 To follow. we produced Last Easter by Bryony Lavery. directed by Tinkue Craig, which was in rehearsals when we dosed the theatre in March 2020. We increased capacity to 90 seats Istill only 50.lo of full capacity) and continued lo rnandale mask wearing in the theatre. while inlioducing a pre-oider in se81 bar service. maintaining audience safety as a priority in our public rne558ging. Continuing our commitment to schools, we ieimagined tsur Primary Shakespeare project in the theatre which played to schools and some public performances. This yearfs play was Twelfth Nlght and directed by Fiona Drummond, who we appointed through an open call. FUTURE DEVELOPMENTS Before the year end. we announced a new autumn 2021 season to include the JMK Award winning production. a new co- production with ATC. 8 revivsl of Whi18 Ths Sun Shin8s snd 8 new version of Pinocchio imagined for family audiences al Christmas. Capacity would stay distanced though allow foi inci8ased demand at 126 1700/ts of full cap8cityI. All shows continue to be stieamed and available on dernand. Having appointed a new Education & Participation Director, Liam Shea, we renamed the department OT Community to encourage greater reach and impact within the community. We launched additional groups including an adult company and parent and baby dasses, recruited additional facilitators, and plan to culminate the year with an intergenerational festival of new work in summer 2022. We partnered with Creative Access to recruit several Kickstart Placements funded by the Government's Kickstart Scheme, lo offer pathways into jobs for young people ages 18-25 in receipt of Universal Credit. This will continue into early 2022. From January 2022 we will have put the bench se8ting back into the theatre, though will wnlinue with 50ry81 distsncing through to July 2022 or Ljntil audienc8 confidence Is back and Covid cases are Tnanageable. Our dedicated Development Ifundraisingl team comprises Iwo full time permanent and one part time pemanent staff. During 20121 we had an additional part time fixed term member of staff. No external fundraisers were engaged for the period. We have a Development Committee., an active commitment from the Board with new Trustees and time allocated by the Executive to ensure that fundraising and philanthropic giving continues at a sustainable level. There was an atlrilion rale of 20/0 on rnemberships and donations throughout the closure period, compared with previous year's average of 5.1 attrition. We are enormously grateful to all funders and supporters who continued their support whilst the theatre was closed. Orange Tree The8tie 15 registered with the Fundraising Regulatoi and follows the Fundrai51ng Regulatorf5 Code of Piactice. All of the fundraising is cairied out directly by the Charity and is not carried out by any extemal professional fundiaiser tsr commercial participatoi. The fundraising practices of the Charity specifically protect vulnerable people and avoid unreasonable pressure on members ol the public or intrusion into privacy. No complaints regarding fundraising praCtIS or breaches of the Code of Practice were noted during the year. We have three Trustee vacanaes, v0 ol which are to be recruited from a pool of Associate Artists, which has gone through a recruitrnent revision to ensure working artists across the industry are appointed, enabling a rnore diverse group from which to recruit lo the full Board. Following 8 successful pre-8ppliralion for 8 future building project which would transform the front of house 8nd audience experience. and acSsibl11tY of the theatie. we have begun fea51bility planning for the project, with funding committed to get us to RIBA Stage 3. At the Decernbei 2021 Board rneeting a new Building Sub-cornrnittee was set up to oversee the project in its in(tial phase, with Hariiet Devey as chaii and Robert Lisney as a member. Page 4
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 FINANCIAL REVIEW The fin8nci81 resu for the period is sel out on page 11. There was net inwme of £564.954 for the year after grants received of £1,206.73312020.' net income of £153.9491. Total Funds at 30 June 2021 were £1,643,84512020". £1,078.8911. The finallcial result for the period was in line with expectations due to combined salary sacrifices, the Government's Job Retention Scheme, LBRUT Grants, the Culture Recovery Fund and donations to the Survival Fund. GOING CONCERN The outbreak of Coronavirus has severely impacted the Orange Tree Theatre's activities including. in cornmon with other theatres. OT[ Ltd ceasing public perfonnances on 16 March 2020 in Compliance with the Government's Covid-19 Restrictions. Though having reopened to the public for seven months from 22 May 2021. and with the efforts made to ensure the oharity's surviv81, the Direotois feel wnfident in the Executive's plans foi recovery into 2022. The Charity had total funds of £1,643,845. After deducting amounts invested in fixed assets there was a cumulative surplLJS on Unrestricted General Reserves, the Sustainabilty Fund and the Designated Reserve Fund of £840,406 at 30th June 2021 12020. £291,8181. This includes fLJnding from the Cultural Recovery Fund to ensure survival throLJghoLrt the pandemic into 21122. This is also above the target of at least £150,000. Given the total of the General Reserves, and following a review of a budget and cashflow forecast to 30 June 2022, the Directors consider the Charity is a going concern for at least 12 months following approval of these accounts. DIRECTORS The Directors who held office during the year were as follows.. Kate Ellis Ivice-chair of QTFLI. Richard Humphreys Ichair of ortLI, Duncan T8tton-Brown (Chair of the Finance Committee). Rosalind Sweeting Iiesigned g Decernber 20201. Carolyn Backhou5e, India Sernper-Hughes (Chair of Diver51ty and Inclusion Committee). Harriet Valley (Chair of Developtnent Committeel, Robert Li5ney, Victoria Kent,and Anita Arora lappointed 19 October 20201. The Diiectois also perfom the duties of charity trustees, all appointments require the approval of the Board ol Directors. The current number of Directors is 9. Trustees are recruited through an open recruitment process or expressions of interest. Prospective Trustees will meet with the Executive team and the Chair, before being invited to observe a meeting. The Trustees will vote to appoint. New Trustees are sent OT policies and a description of responsibilities on induction, and offered Safeguarding training. This applies to Associate Artists. INFORMATION GIVEN TO AUDITOR Each of the person5 who Is a Director at the time when this Director5. report Is approved has confirmed that so far as that Director is aware, there is no relevant audit information of which the chaiity's auditor is unaware, and that Director has taken all the steps that ought to have been taken as a Directoi in older to be awaie of any infom)atitsn needed by the Charity's auditor in connection with preparing his report and to establish that the charity's auditor is aware of that information. RESERVES POLICY AND RISK MANAGEMENT The Directors consider that the funds recewed each year should be fulty ulilised lo rneet the objectives of the theatre as slated above. However. the Directors also consider that it Is desirable to hold a surplus of unrestricted funds lo meet ongoing conliadual COTnmilments. The Directors maintain 8 Risk Register and review major iisks lo the Charity on an annu81 basis to establish system5 and procedures to mitig8te identified risk5. Certain of these ieview5 concentrate on specific aspects such a5 budgeting, artistic progratmrne planning, health and safety and equal opportunities. Management accounts are ieviewed at every meeting. The Diiectois remain satisfied that the regulai iisk assessment reviews ensu that they are able to SLrffiaently manage the risks to which the charity is exposed. The current Reserves Policy requires at least £150,000. Page 5
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2021 ACKNOWLEDGMENTS The Diredors ale grateful for the continuing support of those public bodies that provide revenue support for the Ihe*re. and to all those who have contributed to Its succe55 over the p8St yeai. This includes the Artistic and Executive Directors and staff of the theatre, 811 our volunteers and supporteis, and all those who contribute and help to raise funds at the Orange Tree. BASIS OF PREPARATION The financial staternents have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small entities. These statements Comply with current statutory requirements. the requirements of the charity's governing document and the requirement of the Charities SORP IFRS 1021. STATEMENT OF TRUSTEES. RESPONSIBILITIES The Trustees (who ale also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees, report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Apted Accounting Practicel. Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the finanaal statements unless they are satisfied that they give a true and fair view ol the state of affairs of the Company and of its incoming resources and application of resources, including its income and expenditure, for that period. In pparIng these financial ststemenls, the Trustees are required lo.. select 5Ultable 8CCOLJnting policies and then apply them wnsistently., observe the methods and principles of the Charities SORP IFRS 1021., make judgtnent5 and accounting e5titnates that are ieasonable and prudent", state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements, prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and discjose with reasonable accuracy at any time the financial position of the Company and enable them to ensure that the financial statements cornply with the Companies Act 2006. They are also responsible for safegLJarding the assets of the Cornpany and hence for taking ieasonable steps for the pievention and detection of fiaud and other iriegularities. This report has been prepared in accordance with the speual provisions of Part 15 of the Companies Act 2(6 relating to small companies. This report was approved by the Directors and signed on their behaW by.. Approved by order of the members of the board of Trustees and signed on their behalf by.. Do¢uSlgThed by.. 'iYJr>XV4SèÈ¥1 Duncan Tatton. Director rown Dale.. 30-Mar-2022 Page 6
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) MENZIES BRIQHTER THINKIN INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED Opinion We have aLJdited the financial 5taternents of 018nge Tree Theatre Limited Ithe'chaiitable cornp8ny'I for the year ended 30 June 2021 which cornpri5e the Staternent of financial activitie5, the Balall sheet, the Statement of cash flows and the related notes, including a summary of significant accounting poliaes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, induding Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic ol Ireland, (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state ol the charitable cornpany's affairs as at 30 June 2021 and of its incorning resources and application of resour5. including its income and expenditure for the year then ended.. have been properfy prepared in accordance wrth United Kingdom Generally ACpted Accounting Piactice,. and have been prepared in accordance with the reqLJirements of the Companies Act 2006. Basis for opinion We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit ol the financial statements section of our report. We are independent of the charitable company in accordan with the ethical requirements that are relevant to our audit of the finanaal statements in the United Kingdom, induding the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going concern In audrting the financi81 statements, we have concluded th8t the Trustees, Ljse of the going concern basis of accounting in the preparation ol the finanual statements is appropriate. 8ased on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concem for a period ol at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections ol this report. Other information The other information comprises the infomiation included in the Annual report other than the financial statements and our Auditor's report thereon. The Trustees are responsible for the other information conl8ined within the Annual report. Our opinion on the financial 518lernents does not cover the other inforrn8lion and. except lo the exlenl otherwise explicitly stated in our report. we do not expre85 any form of assurance conclu510n thereon. Our responsibility is to lead the other infoirnation and. In doing so, consider whether the other infortnation is materially incon51Stent with the finanaal staternents or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we Identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Page 7
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the information given in the Trustees. report for the financial year for which the financial statements are prepared is consistent with the financial slatemenls. the Ttustee5' report ha5 been prepared In accordance with applicable legal requirernents. Mattèrs on vthieh wè art rèquir•d to rèport by èxe•ption In the light tsf our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us,. or the finan081 statements are not in agreement with the acoounling records and relums.. or certain disclosuie5 of Trustee5' r8rnuneration specified by law are not made". or we have not reiVed all the information and explanations we require for our audit", or the Trustees were not entitled to prepare the financial statements in accordan with the small companies regime and take advantage of the small companies. exernptions in preparing the Trustees, report and from the requirernent lo prepare a Strategic report. Responsibilities of trustees As explain8d rnor8 fully in the Trust88s' responsibilitl8S Statement, the Truste8s Iwho are 81so the dir8ctors of the charitable cotnpany for the purposes of cotnpany lawl are responsible for the preparation of the financial statements and lor being satisfied that they give a true and fair view, and foi such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but lo do so. Page 8
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free fro material misststemenl. whether due to fraud or error. and lo issue an Auditor's report that includes our opinion. Re8sonable assuignce is a high level of assui8nce, but is not a gu818ntee that an audit conducted in accoid8nce with ISAS IUKI will aknays detect a material tnisstatement when it exist5. Misstaternents can arise from fraud or etror and are considered tllateiial if, individually or in the aggregate, they could iea50nably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent lo which our proTrdures are capable of detecting irregularities, including fraud is detailed below.. The Charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We determined that the following laws and regulations were most significant incjuding the Charities Act 2011, Safeguarding Vulnerable Groups Act 2006. Health and Safety legislation and employment law. We assessed the extent of oompliance with these laws and regulations as part of our procedures on the related rinancial statement item5. We understood how the Charity is complying with those legal and regulatory fiatneworks by tnaking inquiries to management and those responsible for legal and complianTr procedures. We coiroborated our inquiries through our review of board minutes. The engagement partner assessed whether the engagement team collectively had the appropriate competence and capabilities to identify or recognise non-compliance with laws and regulations. The assessment did not identify any issues in this area. We assessed the susceptibility of the Charity's financial 5tatement5 to material rnisstatement, including how fraud rnighl occur. We considered the opportunities and IntIveS that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas., posting of fi8udulenl journ81 entries. aulhorisalion. prO8$ing, and P8yment of fiaudulent expenses and timing of income iecognrf(ion. Audit procedures performed by the engagement team included.. Identifying and assessing the design effectiveness of controls management has in place to prevent and detect fraud., Understanding how those charged with g0Veman considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process., Challenging assurnptions and judgments rnade by management IN ils signrficant accounting estimates,. and identifying and testing journ81 entries. in particul8r any journal entries posted with unusual account combinations. Because of the inherent limitations of an audit. there is a risk th81 we will not detect all iiregulaiities, including those leading to 8 material rni55tatetnent in the financial 5taternents 01 non-compliance with regulation. This risk inciea5es the more that cornpliance with a law or iegulation Is removed Iiom the events and transactions reflected in the financial 5tatetnent5, as we will be less likely to become aware of Instances of non-compliance. The iisk Is also greater regarding iiregularities occurring due tts fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the finanaal statements is located on the Finanaal Reporting Council's website at.. w¥vw.frc.o .uklauditorsres onsibilities. This description forms part of our Auditor's report. Page 9
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED Use of our report This report is made solely to the charitable corllpany's members, as a body, in accordan with Ghapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste lo the ch8rit8ble company's members those mallers we are required to state to them in an Auditorfs report and for no other purpose. To the fullest extent peirnitted by law. we do not accept or assurne responsibility to anyone other than the ch8rit8ble company and it5 mernber5, as a body. for our audit work, for this ieport, or for the opinions we have lortned. Do¢uSlgn•d by.. 634F24D&92A4471 Janiee Matthews FCA (Senior statutory auditor) lor and on behalf of Menzies LLP Chartered Accountants Statutory Auditor Centrum House 36 Station Road Egharn Surrey TW20 9LF Date.. 31-Mar-2022 Page 10
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2021 Unrestricted funds 2021 Restricted funds 2021 Total funds 2021 Tolal funds 2020 Note Income from.. Donations and legacies Charitable activities 1,372.017 88.026 3.695 67 186.650 1.558.667 88.026 3,695 67 655,421 849,953 20,795 370 Other Ir8ding adivilie5 Investments Other income 54,038 54,038 77,598 Total incornè 1,517.843 186,650 1.704.493 1,604,137 Expenditure on.. Raising funds Charitable activities 188,909 763,980 38,494 148,156 227,403 912,136 787,472 1,262,716 Total expenditure 952,889 186,650 1,139,539 7.450.188 Net movement in funds 564,954 564,954 753.949 Reconciliation of funds= Total funds brought forward Net movement in funds 1,078,891 564,954 1,078,891 564,9S4 924.942 753,949 Totsl fvnd$ rrIed forward 1,643.845 1,643,845 1.078.897 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 14 to 29 form part of these financial statements. Page11
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) REGISTERED NUMBER.. 01113093 BALANCE SHEET AS AT 30 JUNE 2021 2021 202Q Note Flxed assets Tangible assets 13 919,297 898,313 919,297 898.313 Current assets Stocks 14 320 7,098 195,371 179,557 Debtors 15 273,072 1,048,504 Cash al bank and IN hand 1,321,896 376,026 Creditors". amounts falling due within one year 16 1597.3481 (195,448) Net ¢urrent a¥sets 724,548 180.578 Total assets less current liabilities 1,643,845 1,078.891 Total net assets 1,643,845 7,018,891 Charity funds Restricted funds Unrestricted funds 17 17 1.643,845 7,078,891 Total fvnds 1.643,845 7,078.891 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of linanaal statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small cornpanies regirne. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Do¢uS*Md by.. ¢PYAY4¥dÈe4V ' Duncan Tatton. rown Date.. 30-Mar-2022 The notes on pages 14 to 29 ftsmi part of these financial statements. Page 12
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2021 2021 2020 Cash flows from operating activities Nel cash generatedllusedl in operating activitie5 INote191 776.825 141,897J Cash flows from investing activities Purchase of tangible fixed assets 157.8781 11,923) Net cash used in investing activities 157.8781 11.9231 Cash inflows from new tKJrrowing 150.000 Change In cash and cash equlvalents In the year Cash and rash equnfalenls at the beginning of the year 868.947 143,8201 179.557 223.377 Cash and cash equivalents at the end of the year (Notes 20 & 211 1,048,504 179.557 The notes on pages 14 10 29 form part of these financi81 $18lementS Page 13
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 General inforniation The Charity is a private cornpany limited by guarantee registered in England and Wales. The members of the company are the Directors named on page 1. In the event of the Charity being wound up, the liability in respect of guarantee is limited lo £1 per member of the Charity. The 8ddress of the regi5teied office and princip81 pl8ce of busine55 is 1 Clarence Street, Richmond, Suirey, TW9 2SA. The company's registration number is 1113093, the charity registration number is 266128. Accounting policies 2.1 8a$is of preparation of financial ¥tstements Th8 financial statements have been prepared in accoidanc8 with the Ch8ritie5 SORP IFRS 1021- Accounting and Reporting by Charities." Statement of Recommended Practice applicable to charities preparing their accounts in accoidance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Orange Tree Theatre Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The Charity is dependent upon gr8nt5. donations and box Offi receipts to enable il to continue to trade. The pro1tIOnS for the Charity foi Iwelve months from the balance sheet date 85sume that such incorne will continue to be forthcorning and Indicate that, bariing unforeseen Clrcurnstans, the Charity will be able to continue trading for the foreseeable future and meets the going concern criteiia and the financial statements have therefore been prepared under the going conrn basis of accounting. The Directors work dosely with the Artistic and Executive Directors in continuing to develop the future financial model for the theatre to restore its own financial reserves to a level that will secure its future as a sustainable enterprise. Page 14
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Accounting policies Icontinuedl 2.3 Income All income is recognised once the Company has entitlement lo the income. rt is probable that the inrne will be received and the amount of income receivable can be measured reliably. Gr8nls. donolions 8ffKI legaoy incon7e Revenue grants that are unconditional ale recognised in the period in which they become re1Vable. Project specific grants with attached conditions are recognised in the period in which the project to which they relate occurs and matched to the associated expenditure. Donations, income raised from fundraising activities and legacy income are accounted for on the eadier of reIpt or when they become receivable, the latter based on reasonable rtainlY as to entitlement, receipt and measurement. Fundraising Activities Fundraising activities include a range of events and club memberships, which are recognised in the period in which they are received. Investment Income Invesltnenl income is rewgnised on a receivable basis. Incom8 from Charitab18 Activitiss Income from theat admission fees is included in income in the period In which the relevant performance takes place. Govemment Grants Govemment grants received as a result of the Coronavirus Job Retention scheme are recognised as income when the charity is entitled to the money. Grants frorn the Arts Council Cultural Recovery Fund are recognised as income to fund the costs in the period to which these relate. 2.4 Expenditure Expenditure is recognised once there is a legal 01 constructive obligation to tiansler economic benefit to a third party, it is probable that a tiansfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Costs are indusive of any VAT which cannot be recovered. Cost of raising funds are costs incurred in attracting voluntary income and fundraising activities. The cost of charitable activities indudes those costs incurred in staging performances in the rnain theatre and for the community and education programmes, as well as the costs of the ancillary theatre activities. Governance costs include an eslirnale of the time Spent by the Executive Director3 on conslitulional and stalulory requirements 8nd the associ81ed exteinal leg81 and professional fees. Support Costs include central functions and have been allocated to activity cost categories on pioportion lo th direct costs incuried for those 8Ctivities. Page 15
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Accounting policies Icontinuedl 2.5 Tangible fixed assets and depreciation Tangible fixed assets costing £250 or more are capitalised and recognised when future economic benefits are probable and the c05t or value of the asset can be rne8sured reliably. Tangible fixed assets are initially recognised 81 oost. After iewgnilion. under the cost model, tangible fixed assets are measured at cost less accumulated depieciation and any accumulated impaiiment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreaation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreaation is provided on the following basis.. Freehold propety Leasehold improvements Theatre fittings and equipment 2°/ts Straight line 20/0 Slraighl line 10°/o Slraighl line 2.6 sto¢ks Stocks are valued at the lower of cost and net ieali58ble value after rnaking due allowance foi obsolete and slow-moving stocks. 2.7 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer ol economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it wll pay to settle the debt or the amount it has received as adVand payrnents for the goods or ServiS it must provide. 2.8 Financial instrument8 The Company only has fin8nci81 8ssetS and fin8ncial li8bilities of 8 kind that qualify as basic financi81 Instruments. Basic financial In5tturnents ale initially recognised 8t transaction value and subsequently measured at their settlement value with the exception of bank loans which ale subsequently measLJred at amortised cost using the effective interest method. 2.9 Penslons The Company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Company to the fund in respect of the year. Page 16
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Accounting policies Icontinuedl 2.10 Fund accounting General funds are unrestricted funds which are available for use al the discretion of the Trustees in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds comprise unrestricted funds that have been sel 85ide by the Trustees ft)r p8tb¢ul81 purposes. The aim and use of each designated fund is set out in the ntstes to the financial statements. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Company lor particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Income from donations and legacies Unrestricted funds 2021 Re¥tricted fund8 2021 Totsl funds 2021 Total funds 202CI Donations and other grants Grants receivable- public funds Fundrai51ng incotne 203,363 1,101,733 66,921 81,650 105,000 285,013 1,206,733 66,921 301, 188 268,Q46 86. 187 1.372,017 186.650 1,558,667 655.421 Total 2020 495,837 759,584 655,421 Grants reIvable frorn Public Fund5 includes grants providing core funds. During the period Orange Tree The8tre Limited received gr8nts £105,000 and £35,000 frorn London Borough of Richmond. The purpose of these giants were to contribute to survival through the pandemic and towards the theatre's piogramme of work, access to cultural activities and the piovision of educational and participattsry programmes. Grants receivable indudes £930,25S 12020.. £nill from the DCMSIArts Council Cultural Recovery Fund, and £130,114 12020 £127,992) from the Coronavirus Job Retention Scheme. Orange Tree Theatre Limited also benefited from an interest free loan under the Coronavirus Business Interruption Loan scheme. Of the total amounts received during the period £193,3* 12020.. £36,350) has been carried forward to the 202112022 financial year to be matched with expenditure during that period as specified by the grant providers and £Nil12020'. £4,850) is included in the Restricted Fund and the balance in Unresliicted Funds. Page 17
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Analysis of income from charitsble activities 2021 202Q Box office income Fees and subscriptions Anallary Theatre activrties 63,661 19,185 S,180 685.421 52. 129 172.403 88,026 849,953 Income from other trading activitie In¢ome from fundraising events Unr•strietèd funds 2021 Total funds 2021 Total funds 2020 Fundraising 3,695 3,695 20,795 Total 2020 20.795 20. 795 Other incoming resources Unrestricted funds 2021 Total funds 2021 Total funds 202Q Other incotne Theatre tsx relief 172 172 1,457 76, 147 53.866 53,866 54,038 54,038 77,598 Total 2020 77,598 77,598 Page 18
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Expenditure on raising funds Costs of raising voluntsry income Unrestricted funds 2021 Re¥tricted funds 2021 Total funds 2021 Total funds 202Q Costs of raising voluntary income Wages and salaiies Support costs 5,065 128,859 54,985 5,065 156.149 66.189 11,866 137,046 38,560 27,290 11,204 188,909 38,494 227,403 187,472 Tot812020 165,202 22,270 187,472 Analysis of expenditure on charitable activities Summary byfund type Unrèstrictad funds 2021 Rèstricted funds 2021 Total funds 2021 Total funds 2020 Operation of Theatre 763,980 148,156 912,136 7,262,716 Total 2020 1,125.402 737.314 1.262, 716 Page 19
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Analysis of expenditure by activities Activities undertaken directly 2021 Support C05tS Total funds 2021 Total funds 202Q 2021 Operation of Theatre 821,685 290,451 912,136 7,262,716 Total 2020 9.044 309,672 1,262, 716 Analysis of direct costs Operation of Theatre 2021 Total funds 2021 Total funds 2Q20 Staff costs Depreciation Marketing and publicity Costumes and disposable props Royalties payable and cornrnissions Box offic£ costs 452,083 36,894 20,445 41,916 9,317 24.922 12,922 23,186 452,083 36,894 20,445 41.916 9.317 24,922 12,922 23,186 709,096 42,483 52,473 40,086 35,603 39,994 33,309 Ancillary theatre activities Access costs 621,685 621,685 953,044 Total 2020 953,044 953.044 Page 20
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 Analysis of expenditure by activities Icontinuedl Analysis of support costs Operation of Theatre 2021 Total funds 2021 Tot81 runds 2020 Staff costs General office cA)sts 96,016 22,288 115.811 6,363 49,973 96.016 22.288 115,811 6,363 49,973 117,578 38,960 718,329 Property costs Interest paid Governance costs 34,805 290,451 290.451 309,672 Total 2020 309.672 309.672 10. Audltor's remuneratlon 2021 202Q Fees payable to the Charity's auditor for the audit of the Company's annual accounts 11,750 11,QOO Fees payable to the Charity's auditor in respect of.. Taxation compliance services Accounts preparation 2,920 1,240 2. 725 1, 150 11. Stsff costs 2021 202Q Wages and salaries Soaal security costs Contribution to defined contribution pension schemes 687,479 45.556 13.619 929,725 42,014 17,293 746,654 989.Q32 Page 21
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 11. Staff costs Icontinuedl The average number of persons employed by the Company during the year was as follows.. 2021 No. 202Q No. Productions- Full time Productions- Part time Box Office l Front of Hous8- Full tirn8 21 23 Box offi l Front of House- P8rt time Administration office- Full time Administration office - Part time 21 19 53 51 No employee received remuneration amounting to More than £eo,000 in either year. The remuneration and benefits received by key managernent personnel lotaled £106,629 during Ihe year12020'. £96,081). 12. Trustees. remuneration and expenses During the year, no Trustees received any rernuneration or other benefits (2020- £NIL). During the year ended 30 June 2021, no Trustee expenses have been incurred (2020- £NIL). Page 22
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 13. Tangible fixed assets Long-t•rm Freehold leasehold property property Office equlpment Other fixed assets Total Cost or valuation At 1 July 2020 Additions 347,152 1,327,512 10,975 17,334 63,493 40,544 1,749,132 57,878 At 30 June 2021 347,152 1,327,512 28,309 104,037 1,807,010 Depreciation At 1 July 2020 Charge for the year 171,559 6,943 609,640 26,550 10.975 58.645 3,401 850.819 36.894 At 30 June 2021 178,502 636,190 10,975 62,046 887,713 Net book value AI 30 June 2021 168,650 691,322 17,334 41,991 919.297 At 30 June 2020 175,595 717,872 4,848 896,373 14. Stocks 2021 202Q Finished goods and goods for res8le 320 l.Q98 15. Debtors 2021 2020 Due within one year Trade debtors 33,056 125,829 114.187 20.961 t68,040 6,370 Other debtors Prepayments and accrued income 273,072 195,371 Page 23
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 16. Creditors: Amounts falling due within one year 2021 202Q Bank ltsans 147.023 69.866 12,757 68,081 299,621 Tiade creditOfS Other taxation and soci81 security Other creditors Accruals and deferred income 32, 791 72.574 76.249 73.834 S97,348 795,448 2021 202Q Deferred income at 1 July 2020 Grants released to income during the year Ticket sales released to inCOTne during the year Grants deferred until the following ye8r Ticket sales deferred until the following year 60,148 148,9641 111.1841 193,396 61,052 235,683 178,500) (142,569J 36.350 71.184 254,448 60, 148 Page 24
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 17. Statement of funds Statement of funds- current year Balance at 1 July 2020 Transfers 8alan¢e at 30 inlo June 2021 Income Expenditure Unrestricted funds Deslgnated funds 47. Kew Road Fund- 8sset' 53, Kew Road Fund- asset. New Theatre Fund - asset. Sustainability Fund - cash Designated Reserve Fund- cash New Artist5 Fund- cash 309,199 175,593 302,281 150,000 112,6011 16,9431 113,9491 296,598 168,650 288,332 150,000 319.281 49,859 319.281 49.859 937,073 133,4931 369,140 1,272,720 General funds General Funds 141,818 1,517,843 1919,3961 1369,1401 371,125 Total Unrestricted funds 1,07B.891 1.517,843 1952,8891 1.643.845 Restricted funds LBRUT 105,000 54,2SO 12,400 9,000 6,000 1105,0001 IS4,2501 112,4001 19,0001 16,0001 Education & Participation Youth Theatre Writers Collective Community 186,650 1186,6501 Totsl of funds 1,078.891 1.704,493 11,139,539) 1.643.845 These assets are property assets all fundamental to fulfilling the charity's principal objectives. Page 25
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 17. Statement of funds Icontinuedl Statement of funds- prior year Balan at 1 July 2019 Transfe Balance al An/oul 30 June 2020 InGome Expendilu Unrestricted funds Deslgnated funds 47. Kew Road Fund- 8sset' 53, Kew Road Fund- asset. New Theatre Fund - asset. Sustainability Fund - cash 327.8QO 182,536 316,230 142,500 (12,601) (6,943) (13,949) 3Q9. 199 175.593 302,281 t,000 963,066 (33,493) 7,5QO 937.073 General funds General Funds (38, 124) 7,444,553 (1,257, 17 1) 17,500) 741,818 Totsl Unrestricted funds 924,942 t,444,553 (1,290,604) 1,078,891 Restricted funds LBRUT lo5,to 54.584 1105,000) (54,584) Education & PartlCiP8tion 759,584 (159,584) Totsl of fund8 924,942 7,604, 137 11,450, 188) 7,018,897 Page 26
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 17. Statement of funds Icontinuedl 47 & 53, Kew Road Fund. asset The theatre and the premises at 47 and 53 Kew Road form part of the charitls core infraslruclure and are fund8ment81 to fulfilling the charity'5 principal objectives. The Directors wnsider that il is essential that these assets are preserved and 85 8 consequence. the New Theatre Fund and the 47 and 53 Kew Road Funds were established. The 47 Kew Road Fund was established tsut tsf the Premises Reserve and grants from The New Orange Tree Theatre Trust to identify the additional funds spent specifically on the building work at 47 Kew Road. It was entirely spent in respect of the worf(s to this building. A transfer from the Fund is made each year to represent the depreciation charge in that year. New Theatre Fund- asset The New Theatre Fund was established out of the reseTves of the Ch8rity. and has been entirely spent in respect of improvements to the main theatre and 53 Kew Road. The New Theatie FLJnd has been used to fit out and equip the Theatre and 53 Kew Road and is offset by depreciation to date, as follows. Cost of main theatre Contribution to cost of 53 Kew Road Depreciation charged to date Transfer to 53 Kew Road Fund 697,4e1 89,830 1395.0981 75.963 302.281 Sustainability Fund cash The Sustainability Fund was set-up with gifts from donors to assist with the ebb and flow of cashflow. The Fund is not expected to be used for budget relief and draw down from the Fund is allowed only in circumstances, and subject to controls. agreed by the Finance Gomrnittee. De81gnated Reserve Fund - cash The Designated Rèserve Fund was set-up with funding from the Arts Counal as part of their Cultural Recovery Fund programme. These are for SLJstsinability coming out of the pandemic, are not restricted and are free to spend in any timescale as decided by the Board. OT New Artists Fund- cash The OT new artists fund is a fund created to use for commissioning and artist development work. The Restricted Funds relate to the following.. L8RUT - Income from the London Borough of Richmond applied lo cole costs and running the Ihealre. attracting local residents and visitors to Education and Participation events. Education and Participation activities. Income received from trusts to be applied towards education and participation All of the above grants flow through Restricted Funds but as they were all fully expended during the period do not form part of the dosing balance of these Funds. Page 27
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 18. Analysis of net assets between funds Analysi¥ of net assets between funds- Current year Unrestricted funds 2021 Total fund 2021 Tangible fixed assets Current assets Creditois due within one year 919,297 1,321,896 1597,3481 919,297 1,321.896 1597.3481 Total 1,643,845 1,643,845 Analysi$ of net a¥sets between funds- prior year UnrgStIFCtgd funds 2020 Totsl funds 2L120 Tangible fixed assets Current assets 898,313 376,026 1195,448) 898.313 376,Q26 (195.448J Creditois due within one year Total 1.078,891 7,078.891 19. Reconciliation of net movement in funds to net cash flow from operating activitie# 2021 202Q Net income for the year las per Staternent of Financial Activitiesl 564,954 153.949 Adlustments for.. Depreciation charges Decrease in stocks 36.894 778 42,483 1.060 (46.4111 (192.978) Increase in debtors 177,7011 254,877 12,9771 Increaselldecreasel in creditors Finance charge on loan Net cash provided byllused inl operating activities 776,825 (41,897J Page 28
Docusign En¥ÈlopÈ ID". FDF8395F-62AE4FAB-8BAF-BF3651D4440E ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2021 20. Analysis of cash and cash equivalents 2021 202Q Cash in hand 1,048,S04 t 79,557 Total Cash and eash •quival•nt$ 1,048,504 179,557 21. Analysis of changes in net debt Other non- cash changes At 1 July 2020 At 30 June 2021 Cash flows Cash at bank and in hand 179,557 868,947 1150,0001 1,048,504 1147,0231 Debt due within 1 year 2,977 179,557 718,947 2,977 901,481 22. R•lat•d party transaetions The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 30 June 2021. Page 29