Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 Company registration number: 01113093 Charity number: 266128 TRUSTEES, REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) MENZIES bRlvA Tcr% i AIlyThiiN
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) CONTENTS Page Reference and admlnlstratlve detalls of the Company. Its Trustees and advlsers Trustees, report Independent auditorts report on the financial statements Statement of financial activities 10 Balance sheet statement of cash flows 12 Notes to the financial statements 13-28
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 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 2022 Trust•s Riohard Humphreys, Chair of OTFL Duncan Tatton-Brown, Chair of Finance Committee Carolyn B8okhouse India Sernper-Hughes Harriet Varley Robert Lisney Victoria Kent Anita Arora Company registered number 01113093 Charity règlSt•rèd numbèr 266128 Rgisi•rod officè and Principal officè 1 Clarence Street Richmond Surrey TW9 2SA Company secretary Hanna Streeter Independent auditor Menzies LLP Chartered Accounlanls Centrum House 36 Station Road Egha Surr8y TW20 9LF Bankars Royal Bank of Scotland PLC Richmond Surrey TW9 10F Solicitors Harbottle & Lewis Hanover House 14 Hanover Square London W1ROBE Page 1
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT FOR THE YEAR ENDED 30 JUNE 2022 The Directors, who act as trustees for the purposes ol charity law, have pleasure in presenting their report together with the audited financial statements lor the year ended 30 June 2022. STRUCTURE, GOVERNANCE AND MANAGEMENT The Orange Tree Theatre Limited (the Charity) is a registered charity govemed by its Articles of Association and a company limited by guarantee. It is headed by the Board of Directors. to which the Artistic Director ICEOI and the Executive Director of the Orange Tree Theatre report. The Finance Corllrrittee, consisting of certain Board members and the Executive Director, also report5 to the Board. The company's registration numb8r is 1113093 and its r8gist8r8d charity numb8r is 266128. Th8 r8gistered office is 1 Clarence Street, Richtnond, Surrey, TW9 2SA. A separate charitable limited company, the New Orange Tree Theatre Trust, owns the freeholds of the theatre and 47 Kew Road lits rehearsal space and workshop), both of which are currently leased tts be used by the Charity. The role of the Board of Directors is to oversee the direction and activities ol the Charity, including its policies and procedures, to ensure that they are in accordanTr with its charitable objects. The Board sets and monitors the strategic direction ol the Charity, atthough the initial preparation and irnplementation of any strategy is achieved through the Artistic Director, Paul Miller, and the Executive Director. Hanna Streeter. In January 2022, Paul Miller announced he would step down at the end of 2022, and the Trustees began the recruitment prOs5 for a new Artistic Director. The Board appointed Tom Littler, who joined the theatre in October 2022, at which time Hanna Streeter became joint CEO. Th8 Board continu8s to rn88t at least quarterfy. The B03rd approv8S th8 annual budget after it h3s begn &x8min8d in detail and approved by the Finance Committee. The Theatre's Heads of Department5 rnanage their own budgets under the supervision of the Artistic and Executive Directors. The Board retsives reports from these Directors to enable them to measure the Charity's performance against budgets and targets for the year. The Finance Committee is chald by Duncan Tatton-Brtswn and meets at least quarterly ahead of each Board meeting. The Board has given due consideration to the Charily Commission's published guidance on the operation of the public benefit requirements. The Directors of the Orange Tree Theatre Limited gave of their time freely and reTrived no emoluments during the year. None of the Directors were reimbursed any expenses (see Note 81. The Diversity and Inclusion Sub-cornmittee of the Board. chaired by India Semper-Hughes. meet quarterly to review and progress development of the following four areas.. Govemance and permanent staff diversity.. The content and authorship of the work on stage.. Diversity of freelance employees.. Safety and protection for all employees. In December 2021, a new Capital RedevelopTnent committee was established to oversee the capital redevelopment of the OT'5 front of house spas, comprising regular meeting5 as required to oversee the initial phase of the project. Members include Hariiet Devey (Chairl, Robert Lisney, the Executive Team, Developrnent & Communications Director and Teehnieal Director. Induction papers covering the role and responsibilities of trustees are provided to new Directors and govemance updates are provided as required. ACTIVITIES, OBJECTIVES ANO PU8LIC BENEFIT The principal activity of the Charity is the operation of the Orange Tree Theatre IOTI. The charitable objects of the OT are principally lo promote, maintain, improve, and advance education, particularly by the production of 8ducational plays and th8 8ncouragement of the arts. The géneral airns and objectives of th8 OT ar8.. To produce theatre of a national standard throughout the year, at affordab18 pric85 To promote new writing and rediscoveries ol neglected work To engage with the community as widely as ptsssible through edLJcation and participation programmes To encourage the development ol emerging artists Page 2
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022 As outlined below under Achievemenl and Performance, the Directors are satisfied that these objectives continue to be met and satisfy the public benefit test. DESCRIPTION OF THE ACTIVITIES UNDERTAKEN FOR THE PUBLIC BENEFIT ACHIEVEMENTS AND PERFORMANCE Following the period of closure due to Covid-19 pandemic. the Iheatre re-opened in May 2021 to a socially distanced audienTr in line with Governrnent guidelines. Our first production of the financial year was the London premiere of Last Easter by Bryony L8v8ry, directed by Tinkue Craig. which w8s in r8hearsals when we closed the theatr8 in March 2020. The play op8ned to good revi8W5, induding a 4-star notice from Arifa Akbar in Th8 Guardi8n. OT Extraordinary, our first fundrais8r 8V8nt since the pandemic wa5 a great 8V8nt that took place on th8 Last Eastei s8t. A packed house wildly applauded all the great act5 who had given the services lor us, and it felt like a great way to thank and reward our supporters whilst raising much needed funds. In September, the winner ol the 2021 JMK Award was Diane Page, with Athol Fugard's Statements After an Arrest Under the Immorality Act, and she directed a line show, with sensitive perfom)ances from the actors and a striking design. This followed with our production of Rice by Asian Australian playwright Michele Lee, directed by Matthew Xia in a co-production with Actors Touring Company, which toured nationally after its UK premiere at the OT. In November we revived While The Sun Shines by Terrance Rattigan, directed by Paul Miller which played over Christmas into January, while our Community family show Pinocchio played in the daytime on the top of the set. In J8nLJ8ry 2022 we had a short 2-w89k programming break to remov8 the t8rnpor8ry distanced seating in the auditoriurn and reinstall the fixed bench seating to increase capacity. Audiences remained cautious for this peiiod. We then produced a full-length version of Sonali Bhattachawa's political and witty Two Billion Beats, which had featured as a 15-minute short in Outside, the live-streamed short plays in March 2021. This was directed by Nimmo Ismail. In March 2022 we opened Tom Fool by Franz Xaver Kroetz, directed by Diyan Zora. A scrupulous and exTrllently achieved production, perfectly acted. Pamela Carter's play The Misfortune of the English. directed by Oscar Toeman, opened to good reviews in April 2022, a striking production of a highly unusual play, wth terrific perforrnances. The final production of the year was The False Servant by Pierre Marivaux. translated by Martin Crimp and directed by Paul Miller. This was originally scheduled for 2020 when we closed for the p8nderni¢. An exception8lly good cornp8ny made great work of this complex French classic. All productions were live streamed and made available on demand, via OT On Screen, in collaboration with The Umbrella Rooms. Continuing our commitment to schools, our Shakespeare for schools project played this year to a mixture ol primary and secondary schools in the theatre, with workshops to accompany the performances. This yearfs play was A Midsummer Night's Dream and directed by Fiona Drummond. The year culminated in a lebratiOn of our youth and community groups, in an intergenerational festival event called Seven Celebrations. Director Jen Bakst conceived the basis for the event. knitting together all the groups, wants and instincts into a cohesive whole that didn't iron out anyone's individuality. Covid w88 pres8nt throughout th8 whole year and unfortunately, w8 had to cancel perforrmances from every run due to cornpany illnéss, meaning that, combined with lower capacit185, box office w8s down in comparison to pre-pand8mic years. The generous increase on our Theatre Tax Relief clairn made up for sorne of thi5 shortfall, as w811 as the deferririg of part of our CRF 3 lunds in accordance with ACE'S terrns. We therefore saw increased grant and ThR income compared with pi8- pandemic years. Page 3
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022 FUTURE DEVELOPMENTS efore the year end we announced a new Autumn 2022 season and the final programme ol outgoing Artistic Director Paul Miller lo include a new production of Yellowrnan by Dael Orlandersmith, directed by Diane Page., the next JMK Award winning production,. Paul Miller's final production at the OT, Arms and The Man by Bernard Shaw.. a revival of Two Billion Beats by Sonali Bhattacharya. directed by Nimmo Ismail. and Grim Brenda, a new play by Ross Willis . developed wilh and directed by Ned Bennett. Our d8dicat8d D8velopm8nt Ifundraisingl t88m cornpri5es two full time permanent and one part time p8rm8nent staff. No external fundrais8rs w8r8 engaged for th8 period. We hav8 8 D8v8lopment Committee,. an 8CtiV8 coniniitment from th& Board with new Trustees and b"rn8 allocated by the Executive to ensur8 that fundraising and philanthropic giving continues at a sustainablB 18v81. We ar8 In th8 proc8ss of recruiting a n8w Dev81opm8nt Board to support and grow fundraising moving forward. We are in the process of recruiting three new Trustees, following an open application process and meetings. Four Trustees ol the Board are recruited from a pool ol Associate Artists at any one time. One ol the new Trustees will be a new Chair and one will be a new Chair ol the Finance Committee. Following a successful pre-application lor a future building project which would transfomi the front of house and audience experien, and acssIbIlIty of the theatre. we have begun feasibility planning for the project, with funding committed to get us to RIBA Stage 3. Once our planning application has been subrllitted we will begin a fundraising strategy which could take 2-3 years. FINANCIAL REVIEW The financial result for the period is set out on page 12. There was net expenditure of £20,185 for the year12021.' net income of £564,9541. Total Funds at 30 June 2022 were 21,623,66012021." £1,643,845). The financial result ft)r the period was in line with expectations due lo combined salary sacrifices, the Government's Job Retention Scheme, LBRUT Grants, the Culture Recovery Fund, ongoing support from regular funders and donations to the Survival Fund. GOING CONCERN The outbreak of Coronavirus has severely impacted the Orange Tree Theatre's activities including. in common with other theatres, OTT Ltd ceasing public performances on 16 March 2020 in cornpliance with the Government's Covid-19 Restrictions. Though having reopened to the public on 22 May 2021. and with the efforts made to ensure the charity's survival. the Directors feel wnfident in the Executive's plans for recovery into 2023. The Charity had a cumulative surplus of Unrestricted Gener81 Reserves, including the Sustainability Fund, of £825,444 at 30th June 2022 12021.. £840,406). This is above the target of at least £150,000. Given the total of the General Reserves, and following a review of a budget and ca5hflow foreeast to 30 June 2023, the Direetors eonsider the Charity is a going eoneern for at least 12 months following appr()val of these aeeounts. DIRECTORS The Directors who held Offi during the year were as follows.. Kate Ellis (resigned 8 December 20211, Richard Humphreys Ichair ol OTTLI, Duncan Tatton-Brown (Chair of the Finance Commilteel, Carolyn Backhouse. India Semper-Hughes (Chair of Diversity and Inclusion Committee). Harriet Devey (Chair ol Capital Redevelopment Cornmitlee & Development Committee). Robert Lisney. Victoria Kent, Anita Arora. The Directors also perform the duties of charity trustees.. all appointments require the approval ol the Board of Directors. The current number of Directors is 8. INFORMATION GIVEN TO AUDITOR Each of the persons who 15 a Director at the time when this Director5, report is approv8d has confirmed that so far as that Director is awar8, th8r8 is no relevant audit infomiation of which th8 charity's auditor Is unawar8, and that Director has taken all the step5 that ought to have been taken as a Director in order to be aware of any inlortnation needed by the Charity's auditor in connection with preparing his report and to establish that the charity's audittsr is aware of that Infomats"on. Page4
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 30 JUNE 2022 RESERVES POLICY AND RISK MANAGEMENT The Directors consider that the funds received each year should be fully utilised to meet the objectives of the theatre as stated above. However, the Directors also consider that it is desirable to hold a surplus ol unrestricted funds to meet ongoing contractual commitments. The Directors maintain a Risk Register and review major risks to the Charity on an annual basis to establish systems and procedures to mitigate identified risks. Certain of these reviews concentrate on specific aspects such as budgeting. artistic programme planning. health and safety and equal opportunities. Management accounts and ¢ashflow are reviewed at every meeting. The DIreOr$ rem8in satish'ed that the regular risk 8ssessrnent reviews ensur8 that they are able to sufficiently rManag8 th8 risks to which the charity is 8xposed. Th8 current Reserves Policy r8quir85 at l&a5t £150,000. BASIS OF PREPARATION The financial statements have been prepared in accordance with the special provisions of Part 15 01 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 ol the Charities SORP IFRS 1021. ACKNOWLEDGMENTS The Directors are grateful for the continuing support of those public bodies that provide revenue support for the theatre, and to all those who have contributed to its success over the past year. This includes the Artistic and Executive Directors and staff of the theatre, all our volunteers and supporters, and all those who contribute and help to raise funds at the Orange Tree. This report was 8pproved by the Directors and signed on th8ir behalf by.. Approved by order of the rn8tnb8rs of the board of Trustees and sign8d on th8ir behalf by.. Do¢uS*Md by.. 'rpy3riAp41bbr4cr" Duncan Tatton-Brown Director Date". 14-Feb-2023 Page 5
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) MENZIES BRIGHTER THINKING INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED Oplnlon We have audiled the financial statements of Orange Tree Theatre Limited (the 'charitable company'l for the year ended 30 June 2022 which comprise the Statement of financial activities. the Balance sheet. the Statement ol cash flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applic8ble law and United Kingdom Accounting Stand2rds, including Financial Reporting st8ndard 102 'The Financial Reporting Standard 8pplicAble in th8 UK and R8public of Ir818nd' (United Kingdom G8ner8lly Acc8Pt8d Accounting PractiC81. In our opinion the financial statements.. give a true and fair view of the state of the ch8rit8ble company's affsirs as 8t 30 June 2022 and of its incorming r8sources and application of resoLJrces, inclLJding its incotne and expenditure lor the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordan with the requirements of the Cornpanies Act 2006. Basls for oplnlon 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 lor the audit ol the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom. including 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 goin9 concern In auditing the financial statetnents, we hav8 concluded that the Truste85' Use of the going concern basis of accounting in the preparation of the financi31 statements is appropriate. Based on the work we have performed, we have not identified any material uneertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going eoneern for a period of at least twelve months from when the financial statements are authorised lor issue. OLJr responsibilities and the responsibilities ol the Trustees with respect to going concern are described in the relevant sections ol this report. Other Informatlon The other informaiion comprises the information included in the Annual report oiher than the financial statements and our Audilorfs report Ihereon. The Trustees are responsible for the other information contained within the Annual report. Our opinion on the financial staternents does not cover the other information and, except to the extent othetwise explicitly stated in our report. we do not express any fomi of assurance conclusion thereon. Our responsibility is to read the other inforrnation and, in doing so. consider whether the other inforrnation is malerially inconsistent with the financial staterrents or our knowledge obtained in the COLJrse of the audit. or otherwise appears to be materially misst8ted. If we identify SLJ¢h material inconsistencies or apparent material rnisstatements, w8 ale requir8d to deterrnine whether this gives ris8 to material misstat8ni8nt in the Iin8nci81 st8tem&nts themselves. If, b8s8d on th8 work we hav& p8rformed, w8 condude that there is a tnat81ial mi55tat8rn8nt of this other inforrnatlon, W8 ar8 required to report that fact. W8 hav8 nothing to report in this r8gard. Page 6
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED (CONTINUED) Oplnlon on other matters prescrlbed by the Companles Act 2006 In our opinion, based on the work undertaken in the course ol 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 statements. the Trustees, report has been prepared in accordance with applicable legal requirements. Matters on whlch we are requlred to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of ihe audit, we have not identified material misstatements in the Trustees, report. We have nothing to report in respect of the following rnatters in relation to which Companies Act 2006 requires us to report to you rf, in our opinion.. adequaie accounting records have not been kept, or retums adequate for our audit have not been reiVed from branches not visited by us., or the financial statements are not in agreernent with the accounting records and returns- 01 certain disclosures ol Trustees. remuneration specified by law are not made", or we have not received all the inlomation and explanations we require for our audit., or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and tske advantage of the small companies, exemptions in preparing the Trustees, report and frorll the requirernent to prepare a Strgtegio report. Responsibilities of trustees As explained more fully in the Trust8es' r8sponsibiliti85 Statement. the Trust88s (who 8r8 also the directors of th8 charitab18 cornpany for the purposes of company lawl are r85ponsible for the preparation of th8 financial statements and for b&ing satisf18d that they giv8 a true and fair view, and for such Int8mal control as th8 Trustees d8termin8 is n8c8ssary to 8nable the preparation of financial 5tat8n18nt5 that a18 free frorn material tnisstatement, wh8thei due to fraud or error. In preparing the linaneial statements, the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, malters relaled to going concem and using the going concem basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 7
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED (CONTINUED) Audltorfs responslbllltles for the au(Ilt of the finanelal statements Our objectives are to obtain reasonable assuran about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditorts report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS IUKI will always delecl a material misstatement when it exists. 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 ol users taken on the basis of these financial statements. Irregularities. including fraud. are instan5 of non-cornpliance with18ws and regulations. We design procedures in line with our responsibilities. outlined above, to detect material misstatements in respect of irregularities, including fraud. The exient to which our procedures are oap3ble of detecting irregLJlarities, including fraud is detailed below.. The Charity is subject to laws and regulations that directly affect the financial statements including financial reporting legislation. We detertnined that the following laws and regulations were m05t significant including the Charities Aet 2011, Safeguarding Vulnerable Groups Aet 2006, Health and Safety legislation and employment law. We assessed the extent of compliance wilh these laws and regulations as part of our procedures on the related rinancial stalement ilems. We understood how the Charity is complying with those legal and regulatory frameworks by making inquiries to management and those responsible for legal and Complian procedures. We corroborated our inquiries through our review ol board minutes. The engagement partner assessed whether the engagement team collectively had the appropriate C0rnpeten and capabilities to identify or recognise non-cornpliance with laws and regulations. The assessment did not identify any issues in this area. We assessed the SuSptIbIlity of the Charity's fin8nci81 statements to material misstatement. including how fraud might oocur. We consid8red the opportunities and incentives that may exist within th8 organisation for fraud and identified the greatest potential for fraud in the following are8s,' posb.ng of fraudulent joumal entri85, auth0ri58tion, proc8ssing, and payment of fraudulent expenses and timing of Income recognition. 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 govemance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting pro$S., Challenging assumptions and judgments made by management in its significant accounting estimates., and identifying and testing journal entries, in particular any joumal entries posted with unusual account cornbinations. Because of the inherent limitations of an audit. there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial ststements, as we will be less likely to becorne aware of instsnoes of non-compliance. The risk is also greater rggarding irregularities ocourring due to fraud rather than error, as fraud involves intentional concgalment, forgery, Gollusion, orni55ion or misrepiesentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at." www.frc.or .uklauditoisres onsibilities. This description foims part of our Audito¢s report. Page 8
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF ORANGE TREE THEATRE LIMITED (CONTINUED) Use of our report This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3 01 Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state lo the charitable company's members those matters we are required to state to them in an Auditor's report and for no other purpose. To the fullest extent pemiitted by law, we do not accept or assume responsibility lo anyone other Ihan the charitable company and ils members, as a body. for our audit work. for this report, or for the opinions we have formed. Janice Matthews FCA (Senior statutory auditor) for and on behalf of Menzies LLP Chartered Accountants Statutory Auditor Centrum House 36 Stztion Road Egham Surrey TW20 9LF 14-Feb-2023 Date.. Page 9
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 JUNE 2022 Unr85tricted fund5 2022 Restricted funds 2022 Total funds 2022 Total funds 2021 Not• Income from: Donations and legacies Charitable activities 775,052 582,725 6,655 272 136,600 911,652 582,725 6,655 272 1,558.667 88,026 5,695 67 Other trading activities Investments Other incorne 258,786 258,786 54.038 Total Incom8 1,623,490 136,600 1,760,090 1, 704,493 Expenditure on= Raising funds Charitable activities 184,085 1,459,590 4,680 131,920 188,765 1.591,510 227.403 912, 136 Total expenditure 1,643,675 136,600 1,780,275 1, 139,539 Net movement in funds 120,1851 120,1851 564,954 Reconciliation of funds.. Total funds brought forward Net movement in funds 1,643,845 120,1851 1,643,845 120,1851 1,078,891 564,954 Total funds carried forwar(I 1,623,660 1,623,660 1,643.845 The Statement of financial activities includes all gains and losses recognised in the year. The notes on pages 13 to 28 form part of these financial statements. Page 10
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) REGISTERED NUMBER: 01113093 BALANCE SHEET AS AT 30 JUNE 2022 2022 2021 Note Fixed assets Tangible assets 13 885,341 919,297 885,341 919,297 Current a85ets Stocks 14 2,528 365,207 734.091 320 Debtors 15 273,073 1,048,503 Cash at bank and in hand 1,101,826 1,321,896 Creditors.. amounts falling due within one year 16 1363,5071 (597,348) Net eurrent assets 738,319 724,548 Total assets less current liabilities 1,623,660 1,643.845 Total net assets 1,623,660 1,645,845 Charity funds Restricted funds Unrestricted funds 17 17 1.623,660 1,643,845 Totsl funds 1,623,660 1,643.845 The Ttustees acknowledge their responsibilities for complying with the requirements of the Act with respect to aeeounting reeords and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and aulhorised lor issue by the Trustees and signed on their behalf by.. Do¢uS*n•d by.. rown Date.. 14-Feb-2023 The notes on pages 13 to 28 form part of these financial statements. Page11
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 JUNE 2022 2022 2021 Not8 Cash flows from operating activities Net cash generatedllusedl in operating activities INote191 19 1282.5521 7T6,825 Cash flows from invesling acti¥itl85 Purchase of tangible fixed assets 13 {11.8611 (57.878) Net cash used in investing activities 111,8611 157,8781 Cash inflows from new borrowng Repayments of borrowing 150,000 120.0001 Change In cash and cash equlvalents In the year 1314,4131 868,947 Cash and cash 8quiva18nts at th8 beginning of th8 y8ar 1,048.504 7 19,557 Cash and cash equivalents at the end of the year 20 734,091 7,048.504 The notes on pages 13 to 28 form part of these fin8nci81 ststements Page 12
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 General Infomiatlon The Charity is a private company 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 to £1 per member of the Charity. The address of the registered office and principal place of business is 1 Clarence Slreet, Richmond, Surrey. TW9 2SA. The wmpany's registration number is 1113093, the charity registr8tion number is 266128. A¢¢ounting policies 2.1 Basls of pr•paratlon of flnaneoal stat•m•nts The financial statements have been prepared in accordance with the Charities SORP IFRS 1021 Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance 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 olherwise stated in the relevant accounting policy. 2.2 Going concern Th8 Charity is d8pendent upon grants, donations and box office receipts to enable it to continLJ8 to tr8de. The projections for th8 Charity for tW81v8 months frorm the balance sh88t date assume that such income will contlnU8 to be forthcotming and Indicat8 that, barring unfor8se8n circurnstanc85, th8 Charity will be abl8 to continue trading for the foreseeable future and rneets the going concern criteria and the financial 5taternents have therefore been prepared under the going concern basi5 of accounting. The Directors work closely with the Artistic and Executive Directors in continuing to develop the future financial model f(>r the theatre t(> restore its own financial reserves to a level that will secure its future as a sustainable enterprise. Page 13
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting polieies Icontinuedl 2.3 Income l income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants, donations and legacy inGome Revenue grants that are unconditional are recognised in the period in which they become receivable. Project specific grants with attached conditions are recognised in the period in which the project to which they relate occurs and matched lo the associated expenditure. Donations. income raised from fundraising activities and legacy income are accounted for on the earlier of reIpl or when they become receivable, the latter based on reasonable certainty as to entitlement, receipt and measurement. Fundr8ising Adivilies Fundraising activities include a range of events and club memberships, which are recognised in the period in which they are received. Investment Income Investment income is reeognised on a receivable basis. Income from Charitable Actffvities Income from theatre admission fees is included in income in the period in which the relevant performance takes place. Government GnIS Grants from the Arts Counal Cultural Recovery Fund are recognised as income lo fund the costs in the period to which these relate. 2.4 Expenditure Expenditure is recognised once there is a legal or oonstru¢tive obligation tc) transfer economic benefit to 8 third party. it is probable that a transfer of economic benefits will be required in settlernent and the amount of the obligation can be measured reliably. Costs are inclusive of any VAT which cannot be rewvered. Cost of raising funds are costs ineurred in attracting voluntary income and fundraising activities. The cost of charitable activities includes those costs incurred in staging performances in the main theatre and for the community and education programmes, as well as the costs tsf the ancillary theatre activities. Governance costs include an estimate of the time spent by the Executive Directors on constitutional and slalutory requirements and the associated external legal and professional fees. Support costs include central functions and have been allocated to activity cost categories on proportion to the direct costs incurred for those activities. 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 cost or value of the asset can be rneasured reliably. Tangible fixed assets are initially recognised at cost. After recognition. under the cost model. tsngible fixed 85set5 are measured at cost less accumulated depreciation and any accumulated impairment losses. All wsts incurred to bring a tangible fixed 8sset into its intended working condition should be included in the measurement of cost. Page 14
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Accounting polieies Icontinuedl 2.5 Tanglble flxed assets and depreclatlon Icontlnuedl Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives. Depreciation is provided on the following basis.. Freehold property Leasehold improvements Office equipment Theatre fitb'ngs and equipment 2¥. Straight line 2 /. Straight line 10 /. Straight line 10°A Straight line 2.6 Stocks Stocks are valued at the lower of cost and net realisable value after making due allowan¢9 for obsolete and slow-moving stocks. 2.7 Liabiliti85 and provision$ Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is piobable that a transfer of economic benefit will be qUired in setuement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company antiupates it will pay to setue the debt or the amount it has received as advantsd payments for the gcods or services it must provide. 2.8 Flnanclal Instruments The Company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently rneasured at their settlement value with the exptIOn of bank loans which are subsequently measured at amortised cost using the effective interest method. 2.9 Pensions The Company operates a defined contribution pension scherne and the pension ch8rge represents the amounts payable by the Company to the fund in respect of the year. 2.10 Fund a¢¢ounting General funds are unr95trioted funds whiGh are avail8blg for use at the discr8tion of the Trust885 in furtherance of the general objectives of the Company and which have not been designated for other purposes. Designated funds cotnpiise unrestricted funds that have been set aside by the Ttustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. Restricted funds are funds which are to be used in accordants with specific restrictions imposed by donors or which have been raised by the Company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use ol each restricted fund is set out in the notes to the financial statements. Page 15
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Income from donatlons and legacles Unrestrlcted funds 2022 Restrlcted funds 2022 Total funds 2022 Total funds 2021 Don8tions and other gr8nts Grants receivable public funds Fundraising income 101,683 579.534 93,835 31,600 105,000 133,283 684,534 93,835 285,013 1,2Q6. 733 66,921 775,052 136.600 911.652 1,558,667 Total 2021 7,372.Q17 186.650 1,558,667 Giants receivable from Public Funds includes grants providing core funds. During the period Orange Tree Theat Limited rèceived a grant of £105,000 12021.. £105,000) from London Borough of Richmond. The purpose ol this grant was to contribute to survival through the pandemic and towards the theatre's programme ol work, access to cultural activities and the provision tsf educational and participatory programmes. Grants re1vable includes £450,85612021'. £930,256) from the DCMSIArts Council Cultural Recovery Fund, and £Nil 12021.. £130,114) 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 reiVed during Ihe period £4,00012021.. £193,396) has been carried forward to the 202212023 rinanoial year to be matched with expenditure during that period as specified by the grant providers and £Nil12021'. £Nill is included in the Restricted Fund and the balance in Unrestricted Funds. Page 16
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysls of Income from charltable actlvltles 2022 2021 ox Offi income Fees and subscriptions Ancillary Theatre activities 443,043 56,501 33.573 65,661 19, 185 5, 180 533,117 88.026 Ineomè from oth•r tradlng aetlvltlas Incom8 from fundralslng av•nts Unrèstrlcted funds 2022 Total funds 2022 Total funds 2021 Fundraising 6,655 6,655 3,695 Total 2021 3,695 3,695 Other incoming resources Unrestricted funds 2022 Total funds 2022 Total funds 2021 Other income 805 805 172 Theatre tax relief 257,981 257,981 53,866 258,786 258,786 54,038 Total 2021 54,038 54,038 Page 17
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Expendlture on ralslng funds Costs of ralslng voluntary Income Unrestrlcted funds 2022 Restrlcted funds 2022 Total funds 2022 Total funds 2021 Costs of raising voluntary income Wages and salaries Support costs 4.152 116,080 63,853 4,152 120,760 63,853 5.065 156, 149 66, 189 4,680 184.085 4.680 188,765 227.403 Totèl 2021 188,909 38,494 227,4Q3 Analysis of expenditure on charitable activities Summary by fund type Unrestricted funds 2022 Restricted fund5 2022 Total 2022 Total 2021 Operation of Theatre 1,459,5 131,920 1,591.510 912, 136 Total 2021 763.980 148. 156 912, 736 Page 18
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysls of expendlture by actlvltles Actlvltles undertaken directly 2022 Support costs 2022 Total funds 2022 Total funds 2021 Operation of Theatre 1.195.522 395.988 1,591,510 912. 136 Total 2021 621.685 290,451 972, t36 Analysls of dlrect costs Operation of Theatre 2022 Total funds 2022 Total funds 2021 Staff costs Depreciation Marketing and publicity Costumes and disposable props Roy8lti8s payabl8 and commissions Box office costs Ancillary theatre activities A¢$$ costs 859.871 49,335 53,693 108,083 26,782 20.952 31,265 45,541 859,871 49,335 53,693 108.083 26.782 20,952 31.265 45,541 452.083 56.594 20,445 41,916 9,317 24.922 12.922 25, 186 1,195.522 1,195.522 621.685 Total 2021 621,685 627,685 Page 19
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Analysls of expendlture by actlvltles Icontlnuedl Analysls of support costs Operatlon of Theatre 2022 Total funds 2022 Total funds 2021 Staff costs 153,454 82,418 127,566 7,622 24.928 153,454 82,418 127.566 7.622 24,928 96,016 22,288 715,811 6,363 49.973 General office costs Property costs Interest paid Govemance costs 395,988 395.988 290,457 Total 2021 290,457 290,451 10. Audltorfs remuneratlon 2022 2021 Fees payable to the Charity's auditor for the audit of the Cornpany's annual accounts 12,575 11.750 Fees payable to the Charity's auditor in respect of.. Taxation compliance services Accounts preparation 3.100 1,325 2,920 1,240 staff costs 2022 2021 Wages and salaries Social security costs Contribution to defined contribution pension schemes 1,088,759 53.442 20,136 687,479 45,556 13,619 1,162,337 746,654 Page 20
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 Staff costs Icontlnuedl The average number of persons employed by the Company during the year was as follows". 2022 No. 2021 No. Productions- Full time Productions- Part lime x Office l Frc)nt of House- Full time Box Office l Front of House- Part time 18 21 14 21 AdTninistration office- Full time Administration office- Part time 46 53 No employee received remuneration amounting to more than £60,000 in either year. The remuneration and benefits received by key management personnel totaled £115,471 during the year12021.. £106,629). 12. Twstees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits (2021- £NIL). During the year ended 30 June 2022, no Trustee expenses have been incurred {2021- £NILJ. Page 21
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 13. Tanglble flxed assets Long-term leasehold property Theatre fittings and equipment Freehold property Offi¢e equipment Total Cost or valuatlon At 1 July 2021 Additions 347.152 1.327,512 28.307 8,208 104,037 3,653 1.807,008 11,861 At 30 June 2022 347,152 1,327,512 36,515 107,690 1.818,869 Depreciation Al 1 July 2021 Charge for the year 178,500 6.944 636,190 26,548 10,975 6.956 62,046 5,369 887,711 45.817 AI 30 June 2022 185,444 662,738 17,931 67,415 933,528 Net book value At 30 June 2022 161.708 664,774 18.584 40,275 885,341 At 30 June 2021 168,652 691,322 17,332 41,991 919,297 14. sto¢ks 2022 2021 Finished goods and goods for resale 2,528 320 15. Debtor$ 2022 2021 Due within one year Trade debtors 7,927 303.331 53,949 33,056 125,830 114. 187 oth8r debtor5 Prep8yments and accrued income 365,207 275,073 Page 22
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 16. Credltors.. Amounts falllng due wlthln one year 2022 2021 Bank loans Trade creditors Other taxation and social security Other creditors Acciuals and d8f8rr8d incom8 130.000 86.257 15.574 23.018 108.658 147.023 69.566 12,757 68,081 299,621 363,507 597.348 2022 2021 Deferred incorne at 1 July 2021 Grants released lo income during the year Ticket sales released to income during the year Giants defeired until the following year Tid(et sales deferred until the following year 254,448 1193,3961 161.0521 4.000 2,961 60, 148 (48,964) (11, 184) 793,396 61,052 6.961 254.448 Page 23
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 17. Statement of funds Statement of fun(Is - eurrent year Balance at 1 July 2021 Balance at 30 June 2022 Income Expendlture Unrestricted funds Designated funds 47, Kew Road Fund- asset. 53, K8w Road Fund- ass8t" New Theatre Fund- asset. 296.598 168.650 288,332 150,000 319,281 49,859 112.6001 16.9441 113,9491 283.998 161,706 274,383 150,000 319,281 49,859 Sustainability Fund- cash Designated Reserve Fund- cash New Artists Fund - cash 1,272,720 133.4931 1.239,227 General funds General Funds 371,125 1.623,490 11,610.1821 384,433 Total Unrestricted funds 1.643.845 1.623,490 11,643.6751 1.623.660 Restricted funds Garrick Charitable Trust Heathrow Community Fund Hampton Fund Noel Coward Foundation 4,000 600 18,000 3,000 6,000 105,000 14,0001 16001 118.0001 13,0001 16.0001 1105,0001 Haskel Family Foundtion LBRUT 136,600 1136.600 Total of funds 1,643,845 1,760,090 {1,780.2751 1.623,660 Thes8 a558ts ar8 prop8rty 8SS8ts all fundarn8ntal to fulfilling th8 charity's principal obj8ctiV85. Page 24
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 17. Statement of funds leontlnuedl Statement of fun(Is - prlor year Balance at l July 2020 Transfers Balance at in/out 30 June 2021 Income Expenditure Unrestricted funds Designated funds 47, Kew Road Fund- asset. 53, K8w Road Fund- ass8t" New Theatre Fund- asset. 309, 1g9 175,593 302,281 150,OQO (12,601) (6,943) {13.949) 296,598 768,650 288.332 750,000 319,281 49,859 Sustainability Fund- cash Designated Reserve Fund- cash New Artists Fund - cash 3t9,281 49,859 937,073 (33,493) 369, 140 1,272. T20 General funds General Funds 147,878 7,577,843 1919,396) (369, 740} 311, 125 Total Unrestricted funds 1,078,891 1,517,843 1952,889) 1,643,845 Restricted funds Garrick Charitable Trust Heathrow Community Fund LBRUT Writers Collective lQ5,QOO 54,250 12,400 g,QOO 6,QOO (105,OOQ) (54,250) (12,400) (9,OOOJ (6,000) Community 186,650 (186,650) Total of funds 1,078,891 7, 7(M,493 (1, 139,539) 1,643,845 Page 25
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 17. Statement of funds leontlnuedl 47 & 53. Kèw Road Fund- assot The theatre and the premises at 47 and 53 Kew Road form part ol the charity's core infrastructure and are fundamental to fulfilling the charity's principal objectives. The Directors consider that it is essential that these assets are preserved and as a consequence, the New Theatre Fund and the 47 and $3 Kew Road Funds were established. The 47 Kew Road Fund was established out of the Premises Reserve and grants from The New Orange Tree Theatre Trust lo identify the additional funds spent specifically on the building work at 47 Kew Road. It was entirely spent in respect of the works to this building. A transfer from the Fund is m8de each year lo represent the depreciation ch8rge in that year. New Theatre Fund- asset The New Theatre Fund was established out of the res8rv8s of th8 Charity, and has b88n 8nti181y sp8nt in resp8Ct of Itnprov8m8nts to the main th8ati8 and 53 Kew Road. The New Theatre Fund 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 697,461 89,830 1436,9451 274,383 Sustalnablllty Fund - cash The Sustainability Fund was set-up with gifts from donors to assist with the ebb and flow ol cashflow. The Fund is not expected lo be used for budget relief and draw down from the Fund is allowed only in circumstances, and subject to controls. agreed by the Finance Committee. Designated Reserve Fund- cash The Designated R8serve Fund was set-up with funding from th8 Arts Council as part of their Cultural R8covery Fund programme. Th8se a18 for sustainability coming out of th8 pandemic, are not restricted and are fr88 to spend in any timescale as decided by the 8oard. OT Naw Artlsts 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.. LBRUT - Income from the London Borough of Richmond applied to core costs and running the theatre, attracting local residents and visitors to Education and Participation events. Education and Participation activities. Income received from trusts to b8 applied towards education and partl¢iP8tion All of the above grants flow through Restrict8d Funds but as they wer8 all fully 8xpend8d during th8 period do not fortm part of the closing balance of these Funds. Page 26
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 18. Analysls of net assets between funds Analysls of net assets between funds- current year UnrestrScted funds 2022 Total funds 2022 Tangible fixed assets Current assets 885.341 1,101,826 1363,5071 885,341 1.101,826 1363,5071 Creditors due within one year Total 1.623.660 1.623,660 Analysis of nèt assèts bètw••n funds- prior y•ar Unrestricted fuftds 2027 Total funds 2021 Tangible fixed assets Current assets Cr8ditors du8 Wlthin year 9t9,297 1,321,896 (591,348) 919,297 1,321,896 (597,348) Total 1,643,845 1,645,845 19. Reconciliation of net movement in funds to net cash flow from operating activities 2022 2021 Net incomelexpenditure for the year las per Statement ol Financial Activitiesl {20,1851 564,954 Adjustments for= Depreciation charges Increase in siocks Increase in debtors Increaselldecreasel in creditors Financ8 charge on loan 45,817 12.2081 192,1341 1216,8191 2.977 36,894 T78 (77,701) 254,8T7 {2,977) Net Cash provided byllused inl operating activities 1282,5521 776.825 Page 27
Docusign En¥ÈlopÈ ID." 5E3584AF-OFBE-4880-8E7F-99A723CC8A34 ORANGE TREE THEATRE LIMITED (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2022 20. Analysls of cash and cash equlvalents 2022 2021 C8sh in hand 734.091 7,048,504 Total cash and cash equivalents 734,091 7,048.504 21. Analysis of changes in net debt other non- cash ehang•s At 1 July 2021 At 30 Junè 2022 Cash flows Cash at bank and in hand 1,048,503 1147,0231 1314,4121 20,000 734,091 1130,0001 Debt due within 1 year 12,9771 901.480 1294,4121 2.977 604,091 22. R*lat8d party transactions 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 2022. Page 28