Chlpplng Norton Thealre Llmlted (The) Reghtered Company Number: 1179918 R•gl8t•r•d Charlty Number: 268164 Aceounts For tho yo•r ond•d 31•t March 2025 Wenn Town8end Chartered Accountants Oxford
Chipping Norton Theatre Llmlted (The Contents Pago Logal and Administrative Information Rapjrt of the Council of Management Report of the Independent Audrtors Statement of Financial Acllvities 10 Balance Sheet 11 Statemenl of Cash Flows 12 Notes 13-22
Chlpplng Norton Theatre Llmlted (The) Leg•1 and Admlnlstrative Information Company Numb?r: 1179918 (England and Wales) R?918tfrred Charlty Numbèr: 268154 Tru•loe8: C Gordon lappoinled 4 July 2024) R Greaves (Chair) H Hotchkiss R Ndhlovu (appointed 4 July 20241 C Peake S Prangnell T Sumner L Whordlgy-Hughe6 {resvJned 1 July 20251 Socrntary: J Robinson Regl8tered Offlca: 2 Spring Street Chipping Norton Oxfordshire OX7 5NL Audltor•: Wenn Townsend Chartered Accountants 30 St Gi18S Oxford OX13LE Bank•r8: Barclays Bank PIC Flnancial Servtis Section P08ox11 Oxford OX3 9YD Thoatro Art18tlc Dlr•etor. J Terry G•n•ral Manager. J Robinson
Chipping Norton Th••tro Limited {Thel Roport ofthe Councll of Management for the year ended 31st March 2025 Members of the Council of Management present their POrt with the financial statements of the charitsble company for the year ended on 31 sl March 2025. The financial statements comply with the current stalulory requirements. the Mernorandum and Articles of Association and the provisions of the Statement of Recommended Practice ISORPI Accounting and Reporting by Charities. IFRS 1021 in preparing the annual report and financial stslements of the charity. Referenc and Admlnlstratlon Detall8 Constitution The Chipping Norton Theatre I Id is a Company limited hy giiarant8e and a registered charity Number 268164, Company Number 1179918 IEn9lan(J and Walesl. Dlrector8 and Trust8 The members of the Council of Management, who are directors for the purposes of Company Law and trustees for the purposes of Charity Law. are referred to interchangeably as such. As set out in the Articles of Association, the Chair of Council 1$ elected by its members. After three years, service members of Council retire by rolalion al annual general meetings and may. if willing to act, be appointed. The members ofthe Gharitable Company may by ordinary resolution appoint a person who is willing lo act, to be a member of Council, either to fill a vacancy or as an additional member. The members of Council who served during the year and since the year end were as shown on pagè 1 and that page also provides the legal and administrative information. Day to day managem8nl. under the direct ¢onlrol of the Council of Management, is delegated lo The Theatre's Art18tic Director. St ucture Governance and Mana emen The Chipping Norton ThealTe Limited was incorporated on 6th August 1974 as a private company, limited by guarantee and not having a share capital, under a Memorandum of Association dated 12th September 2024. Members of Council musl be a memb8r of the ¢haril8ble company. Prospective members of Council may be invited to observe Council meetings, but if elected to full membership mu51 also become M8mber8 of the Company, The present membership ol Council represents a wide range of the necessary knowledge and experience- theatre management, finance, fundraising, legal mallers - and continuity of relevant experience 15 garded as important, combined with a regular audit of skills. On appointm8nl, new members of Council are provided with an information pack and a full briefing from the Chalr, the Thealre's Arb'stic Director and the General Manager. Members of Council are regular attendees al the various events that are put on In The Theatre. Council meetings are also attended. as observers. by representatives of The Theatre's regular statutory ftjnding bodies, including local authority botJie$. The Council of Management administers the charity. The Council normally meets quarterfy and there are sub- committees covering fundraising, finance and audits which also meeting quarterly. A Director is appointed by the trustees to manage the day-lo-day operations of the charity. To facilitate effective operations, the Director has delegated authority, within terms of delegation approved by the trustees, for some operational matters lo members oflhe Senior Management Team. All member of the Council of Management give of their lime freely and no Iruslee received remuneration in the year. Details of directors, expenses and related paty transactions are disclose(J In note 11 to the accounts. The pay of the senior staff is reviewed annually and normally increased in accordan¢e with average earnings. In view of the nalu of the charity. the levels are benchmarked against pay levels in other Provincial theatres of a similar syze run on a voluntary basis. The remuneration benchmark is on the lower end of the range paid for similar roles. If recruitment has proven difficult in the recent past a market addition is also paid with the pay maximum no greater than the highest benchmarked salary for a comparable role. Senior 51aff were paid a total of £125,08D12024'. £118.6601.
Chlpplng Norton Theatre Llmlted (The Report of the Coun¢ll of Management forthe yearended 318t Maich 2025 Structurg Governance and Man• ¢mont continued Th8 Theatre benefits from the sUPPOrt of over 1000 Friends and The Chipping Norton Theatre and Friends Trust, tsvo of whose Iruslees are appointed by Council. They provide significant and invaluable financial support to The Theat. It is worth nots'ng that without significant additional fundraising in each year, the resources of the Trust will be depleted,. The Theatre therefore has an important fundraising function to deliver in Ihe short lo medium term. th regard lo risk. insurance cover 1$ in place for the normal risks of operats'ng The Theatre. Beyond this th8 principal uninsurable risks are,. the loss of, or signifi'cant reducts'on in total revenue funding from statutory and local authority bodies and Irom private trusts and individuals.. short-lerm adverse trading conditions affecting the locality., the building is particularly old and could at any lime require significant funds to be spent, of which the Theatre currently does not have enough reserves to cover., failure lo raise sufficient Gharitable donations lo maintain liquid asset levels. The occurrence of the first of these risks would necessitate major changes lo the ways in which the Theatre operates and would almost certainly lead to a reduction in the range of activities in the medium term Against the second category of risk, the strats9y Is lo constitute an appropriate general reserve divided beeen the charitable company itself and the associated Theatre and Friends Trust. The relevance of these 51ralegies is kept under review by the Council. Ob g¢tlvo8 Actlvltle8 and P bll 8 ne The Company is established to promote. maintain, Improve, and advance education, particularly by the promotion and producbon of educational plays and ¢oncert5 and the encouragement of the Arts. We are a theatre, an arthouse cinema, 8 gallery, a concert hall and a local hub. The Theatre is a resource for our community and a professional venue welcoming, supporting an(J developing exciting artists and performances, and together we welcome over 50.000 customer visits every year lo over 500 events. Our extensive and decades strong Take Part programme sees hundreds ol community memb8rs take their place within our building every day of the year. In Sep 2024 The Theatre passed a resolution lo adopt a new set of Article8 01 Association,. bringing the official purpose of the charity up to dale and covering the scope of work that the arts Is now Involved with. During the year under review, the Theatre sel out lo.. bring our community log&ther to enjoy a varied programma of innovative, exciting and accessible, sought- after artistic productions Spark creativity and build community through excellent parti¢ipalory aclivilies and workshop8 acr088 all art forms promote inclusion, equality and diversity in all areas Activities included.. The Theatre reiVed 112 live performances and screened 91 fi'lms and 39 live streamings along with 21 private hires, S off site live performances and 3 weddings. The annual produced panlomirne J8Gk and the Beanstalk was perfomed 95 times, with an average 74% capacity, and seen by 16,446 people, including relaxed, captioned and audio described performances. An aMbituS double bill of Lark Ris8 and Barn Dance,. produced lo celebrate rural Oxford5hire for the 50th anniversary of The Thealre. This included 116 people. from local volunteers to professional actors. and involved turning the auditorium into the inside of a barn. Murder for Two was produced and performed for 2 weeks in the Autumn and toured the UK for 6 weeks to 10 other venues,. featuring 2 actor musiGians who play a grand piano throughout. A series of outdoor 'AI Fresco, live events were planned during the summer around a range of private gardens and al an in house produced walk about show called As I w8S 8 W81king perfomed around the beautiful surroundings of Farm Ed.
Chlpplng Norton Theatre Llmlted (The) Report of the Councll of Pllanagement for the year ended 318t March 2025 Ob ectlve8 Actlvltles nd Public Benefit contlnu•d Take Part al the theatre thrived with year-round, weekly session across our Youth Theatres. CrealNe Writing groups, Adult Drama, Dance 50, Youth Musical Theatre groups, Saturday Drama groups. the Chipping Norton Singers, relaxed screenings, Holiday worf(shops, Can Sing training ¢hoir and Great Company group for adults with learning disabilities. We launched Youth Theatre Open, a fully funded, supported group for neurodivergent or anxious young people and those who needed extra support. A total of 280 people 'Take Part. in youth and adult classes every week. Free School Meals provision grew from 132 to over 170 young people each sch¢>Jl holiday. The programme was supported financially and via volunteer support with prep and collection days from Wise Invoplmenl's staff. Our Fr88 School Maals cultural programme wag supported by Chipping Norton Town Council, and offered over 1,000 free art and craft packs, 215 fe family film lickels, 264 free Iet5 to six different live performances at the theatre, 135 free pantomime tickets, the free art and craft work5hop$, our popular Easter trail and much-loved visit from Father Christmas. A full butsary heme is in operation thanks lo the long-sighted support of multi-year lunding from Tony and Judith Yarrow. The Tony and Judith Yarrow Bursary Scheme gave out 39 bursariès awards as well as funding addition81 support workers and Iran5POrt when needed lo enable young people may need lo participate. The Theatre organised and ran Chippy Creative Partners.. 8 group of Gommunity, statutory. creative and education organisations that meet quarterly lo share resources, priorities and needs. Out of these our Community programme's priorities of supporting low-income Ghildren and families. youth mental health and inclusion were reinforced, and a new need lirmly exp388d for activities lo &ngage i501ated adult6, particularly older adults. The Theatre's focus on youth Mental Health grew, with groups running weekly workshops from January through til Ihe following May for year 7s, year 8-9s on the CAMHS wailing list or experiencing mental health struggles al Chipping Norton School, as well as supporting the nurtu room students, transition lo secondary school from Sl Mary's primary school AlongsKle this, we launched our first SEN mental health drama group for young people at Chipping Norton School who are supported on the SEN Register and experiencing mental health needs, and partnered for the first lime with Park School, which is our local Social, Emotion and Mental Health school lo deliver the sessions in school to their cohort. Two Parent Support Groups continued, with monthly art and peer support for parents. one foGusing on parents of children with mental health needs and the other as 8 SEN Parent group. We were very happy to expand our summer holiday workshops with HAF IHolid8y and Food) programme funded by Oxfordshire County Council. We ran intensive HAF opportunities running concurrent fortnighl-long groups this summer.. Play Makers and Stage Magic. both of which culminated in a young people's swimming and day of fun followed by a whole Family Fun Day at Chipping Norton Lido. Places booked out immediately, and we were delighted lo be able to support children who needed some help this summer. 600/0 of our HAF participants had additional needs ranging from mild sensory needs lo AS, ADHO and ARFID. 32% of the cohort had care experience andlor were actively being supported by Children's Services this year. Offered community ti¢ket61o new audience rnembers including families supported via the Branch, mental health services. our local Ukrainian cornrnunity, local SEMH School Park School, car6 homes, older adults support groups and more. 4 art exhibition8 were ¢Jisplayed by local professional artists and local amateur groups and schools in the gallery Following successful feasibility study funding a lease was negotiated and signed lo refurbish and operate an additional building in town Currently silting as a lost community resource. Plans for the coming year involve work to reopen the premise and to expand and develop rn0 work with the elderly and disabled with fvlly arcessible space5. During the year an area of roof was repaired following a significant leak and an office was refvrbished for hire. In the Autumn, continuing ils work to reduce carbon emissions and control utilities costs, The Theatre installed a fully LED lighting rig in the auditorium. Many thanks go the VCSE Energy Efficiency Scheme Funded by UK Govemmgnl and Theatres Trust for funding this project.
Chlpplng Norton Theatre Llmlted {Thel Report ofthe Council of Managemont for the year ended 31st March 2025 The Theatre would like to thank all of its sponsors and funders that have supported activities throughout the year, and all of the individuals, Friends and Patrons for their ongoing support. The Theatre was sponsored by.. Bruern Farms {Barn Dan¢el Big Cheeks Wellbeing Cleenol Group Ltd (Cleaning Partner) Cotswold Seed5 (Lark Ri5el Cottsway Dragon School FWP Mallhews ILark Ri5el Gallagher Developments ITake Parti Hedges Law Hook Norton Brewery Kingham Hill School IPantomim81 Reform IT OpenDoorz Wigwam Self Storage Wine Freedom (House Party) se Investment (The Theatre 8nd Free Holiday Lunch Programm81 The Theatre was funded by: The National Lottery through Arts Council England Chipping Norton Town Council Commissioning Circle Oxlordshire County Council {Holiday Activities Fundl Parish Councils (Churchill & Sarsden, Enslone, Oddington. Kingham} Patrons and Friends of The Theatre Chipping Norton VCSE Energy Efficiency Scheme Funded by UK Government West Oxfordshire District Council Albion Trust Aldi Aird Clabon Charitable Trust Arts Society of Wesl Oxfordshire Banbury Litho Cash for Kids (Holiday Hunger) Charlbury Overseas and Community Projects CHK Charities Churchill Car Show Cotswold Arts Through Schools Collisford Charitable Trust Doris Field Charitable Trust Dragon School Elizabeth Jackson Charitable Trust Whistlers Restaurant Esmée Fairbairn Foundation Glasgow Foundation Glyme Hall HDH Wills 1965 Charitable Twst Michael Bishop Foundation Ormonde Foundation PF Charitable Trust Pye Charitable Trust Schusler Charitable Tru$1 Singer Foundation Stella Symonds Charrtable Trust Tackley Horse Trials Theatres Trust Walter Higgs Charitable Trust Our thanks to all our generous indivKlual donors, including those that wish lo remain anonymous and a special menlK)n lo Tony and Judith Yarrow for their ongoing multi-year support for the Tony and Judith Yarrow Bursary Programme and to Anthony Peters for supporting our Take Part Programme. The Theatre benefits from the invaluable support of around 75 volunteers as theat ushers and also has volunteers within archiving, fvndraising, general adrnin and coslurne. Thanks is a150 given lo the members of the Friends Support Group who arrange even15 and sales throughout the year to ra15e much needed funds. The Theatre would be unable lo funcbon in ils current form wilhoul the support of Olsr volunteers and their lime and contribution 18 hugely appreGiated. The Theatre would like to thank the team of pemianenl and casual staff arnounling lo 36 individua15 and its team of freelance Take Part practitioners., all of whom have worked incredibly hard throughout the year
Chipping Norton Theatre LlmSted (The) Report of the Councll of Management for the ye•r ended 3181 March 2025 Fundrllsln Members of The Theatre's fundraising department organige events and carry out fundraising a¢tivilies in order lo generate funds for the charity. The Theatre does not use professional fundraiser5 or involve commercial partlGlPators. There have be8n no complaints about fundraising a¢tivity this year. All the charity's marketing aotivities are undertaken direclly to ensure that is not unreasonably p8rsi5tenl or intrusive. Marketing materials contain clear details of how to unsubscribe lo future communicab'ons and care is tsken lo limit the level of communications being sent out. Flnanclal Revlow This year The Theatre generated an unrestricted surplus of £43,381 12024.. surplus of £18,755) which will be invested in the coming year in the refurbi6hmonl of additional workshop space. The Council of Management has an agreed Reserv85 Policy in place and as al 31st March 2025 total funds were £1,210,984 including reslricled funds of £51,293 and designated funds of £987.019. The Theatre's free reserves were £172,67212024. £129.2911. The Chipping Norton Theat Trust. an independent charity providing grant support to The Theatre. made funding payments of £10,000 to The Theatre. The Friends of Tho Theatre schem8 raised £64,635 12024.. £64,420) in membership income, whiGh has supported the core costs of the theatre and various repairs of the building. tatement of the Co nell of Mana ement's r98 n8lbllltl•8 The Council of Management are required by law lo prepare financial sta18ments for each financial year which give a true and fair view of the slate of the affairs of the charitable company and of the charitable company's activities for that period. In preparing those financial statements the Council of Management a requir&d to lollow best practice and.. select suitable accounting policies and then apply them consistenlly., make judgements and estimates that are reasonable and prudent., prepare the financial statements on the going concern basis unless il is Inappropriate to presume that the company will continue in business. The Council of Management are responsible for keeping proper accounting records which disclose wrth asonable accuracy the financial position of the charitable company and which enable them to ensure that the financial slalemenls comply with the Companies Act 2006. They are also responsible for safe9uarding the charitable company's assets and hence for taking r8asonable steps for the prevention and detection of fraud and other irregulaNlies. So far the Trustees are aware,. there is no relevant information of where the charitsble company's auditor is unaware., and the Trustees have taken all steps that they ought to have taken to make themselves aware of any levant audit informab'on and to establish that the auditor Is aware of the information. Audltors A resolution will be proposed al the Annual General Meeting that Wenn Townsend be re-appointed auditors lo The Theatre for the ensuing year. This report was approved by the Board of Directors and the Council of Management on 1st December 2025. R Grnav•8 Trust0¢ 2 Spring Street Chipping Norton Oxfordshire OX7 5NL
Chlpplng Norton Theatre Llmlted (The Report of the Independent Auditor8 To Tho Members of Chlpplng Norton Theatre Limited Icontlnugdl Oplnlon We have audited the financi81 statements of The Chipping Norton Theat Limited Ilhe 'charilable company'l for the year ended 31 st March 2025 which compfise the Statement of Financial Aclivilies, the Balance Sheet, the Cash Flow Statement, and notes to the financial statements, including a summary of Significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 The Finan¢i81 R8POrting Slandard appIable in th8 UK and R8public of Iland Iunited Kingdom Generally Accepted Accounting Praclicel. In our opinion the financial statements.. give a true and fair view of the stale of Ihe charitable Gompany'5 affairs a5 al 31st March 2025, and of ils incoming resources and application of resources, including ils income and expenditure, for the year then ended., have been properly prepared in accordance with United Kingdom Generally Accepted AGGounting Practice., and have been prepared in accordance with the requirements of the Companies Act 2006. Bails for oplnlon We conducted our audit in accordance with International 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 of the fi'nancial stslemenls section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant lo our audit of the financial 51alernenls in the UK. including the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these quiremenls. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclu8lon• rel•tlng to golng concern We have nothing lo report in respect of the following matter8 in relation to which the ISAS IUKI require us to report lo you where.. the Trustees, use of the going conc&m basis of accounting in th8 preparation of the financial stalem8nls Is not appropriate., or the Trustees have not cjisclosed in the financial statements any identifi'ed material uncertainties that may ca$1 significant doubt about the charitable company's ability to continue to adopt the 90ing concern basis of accounting for a period of at least tsvelve months from the date when the financial statements are authorised for issue. Oth•r Informatlon The Trustees are responsible for the other information, The other infom)ats'on comprises the infomalion included in the Trustees, Annual Report, other than the financial 5talemenls and our auditor's report Ihereon. Our opinion on the financial slatemenls doe5 not cover the other informats'on and, except lo the exlenl olhewise explicrtly slated in our report, we do not express any form of assurance conclusion Ihereon. In connection with our audit of the financial stalemenls, our responsibilty is to read the other information and. in doing 50, consider whether the other infomialion is materially inconsistent with the financial statements or our kn¢)wledge obtained in the audit or otherwise appears lo be rnalerially mi$51ated. If we identify such material inconsistencies or apparent material misstalemenls, we are required to delermine whether there is a rnalerial misstalemenl in the financial ststements or a material misstatement of the other information. If, based on the work we have perfomied, we ¢on¢lude that there is a material mi55talern8nt of this other inforrnalion, we are required lo report that fact. We h8ve nothing to report in thi5 regard.
Chlpplng Norton Theatre Llmlted (The) Rèport of the Independent Audltorn To The Memb•rn of Chlpplng Norton Theatre Llmtted {continuod Opinions on othef mattern prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audrt.. the information given in the Trustees, Annual Report lineorporaling the Directors. Report) for the financial year for which the financial statements are prepared is consistent with the financial staternents.. and the Oire¢lors' Report has been pwpared in accordance with applicable legal requirements. Mattern on whlch we arg rgqulred to r•port by exception In the light of our knowledge and understanding of the charitable company and ils environment obtained in the course ofthe audit, we have not identified moterlal misstatements in the slr&legic report and the direclors. report. We have nothing to report in respect of the following mallers in relallon lo which the Companies Act 2006 requires us lo report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been ceiVed from branches not visited by us., or the financial slalemenls are not in agr8emenl with the aGGounling records and relums.. or certain disclosures of directors, muneration specified by law are not made, or we have not received all the InfOrrnatn 8nd explanations we require for our audit. ReJpon•lbllltle8 of trustees As explained more fully in the Truslee5' Re$pon8ibililies S18tement sel out on page 6, the Trustees (who are also the diwlors of the charitable company for the purposes of company lawl are SpOnsIble for the preparation ol the fi'nancial gtalemenls and for being satisfied that they give a true and fair view, and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free trom material misstatement, whether due to fraud or error. In preparing the linancial statements. the TTusle6s 8re spOnSible fora$se$ging the charitable company's ability lo 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 lo liquidate the charitable company or lo cease operations, or have no realistic alternative bul lo do so. Audtt0• re8ponslbllltloJ for the audlt of the flnanclal ¥tatom•nts Our objectives are lo obtain reasonable assurance about whether the financial statements as a whole are Iree from material misstalemenl, whether due lo fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance. bul is not a guarantee that an audit Conducted in accordance with ISAS IUKI will avaYS delect a material misstatement when il exi5t5. Misslalements can arise frorn fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to Influence the economic decisions of users taken on the basis of these financial slatemenls. A further description of Oltr responsibilities for the audll of the flnancial statements is locatèd on the Financial Reporting Council's website al.. www.frc.org.ukJauditorsresponsibilities. This description forms part ol our 8udrtor'8 report. Irregularilie5, including fraud, are ins18nces of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. lo detect material misstatements in respect of irregularilie5. including fraud. The specific procedures for this engagement and the exlenl lo which these are capable of detecting irregularities, including fraud is detailed below.. Enquiry of management, those charged with govern8nce and management around actual and potential Iiligalion and ¢laims", Reviewing rninutes of meetings of those charged with governance., Reviewing financia1 statement disclosures and testing to supporting documentstson lo assess compliance with applicable laws and gUlatIonS", Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustment5 for appropriateness, evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting e5tirnates lor bias.
Chipping Norton Theatre Limlted (The) Report of the Independènt Auditorn To The Mernbern of Chlpplng Norton Theatre Limitèd (continued) Audftor's reBpon8lbilltles for the audit of the flnanclal statements {contlnuedl Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading lo a material misslalement in the financial statements or non-compliance with regulation. This risk increase5 the more that compliance with a law or regulation is removed from the events and Ir8nsaclions reflected in the financial slatemenls, as we will be less likely lo become aware of instances of non-compli8nce. The risk is also greater regarding Irregularities occurring due lo fraud rather than error, as fraud involves int8nlional concealment, forgery. collusion, omission or misrepresentation. U•0 of our report This report is made solaly lo the charitable company's members, as a body. in acGordanGe with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stale to the charitable company's members those mallers we are required to stsle to them in an auditor's r8POrt and for no other purpose. To the lullesl extent permitted by law, we do not accapt or assume responsibility lo anyone other than the charitable company and the charitable company's members as a body, for our audit work, for this report. or for the opinions we have formed. Mr Lo0 Baker FCA Senlor Statutory Audltor For and on behalf ofW•nn Townsend statutory Audltor Oxford Date.. 191 December 2025
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Company Numb¢r: 1179918 Chlpplng Norton Theatre Llmlted (The) Balance Sheet at 31st March 2025 Nots 2025 2024 Tanglble flxed assots Tangible assets 13 987,019 892.290 Current assots Stocks Debtor5 Bank accounts Cash accounts 14 15 4,798 249,499 202,804 488 5,485 266,166 125,344 2,492 457,589 399,487 Current Ilabllltle• Creditors.. Amounts falling due within one year 16 1233,8241 1232,2051 N?t current assets I Ill•bllltle•} 223.965 167,282 Not a••ets 1,210.984 1,059,572 R•pr••ented by:" Capltal fund• Unrestricted funds Designated lunds Reslricled lunds 17 17 17 172,672 987,019 51,293 129,291 892,290 37,991 Total fund• 1,210,984 1,059,572 The financial statements have been prePad in accordance with the speoial provisions of part 15 of the Companies Act 2006 relating lo small companies. Approved by the Council of Management on 1 st December 2025 and soned on their b8half by.. R Greav88 TruBteo The annexed notes fomi part of these financial statements. -11-
Chlpplng Norton Theatre Llmlted (The) statement of Cash Flows for the year ended 3181 March 2025 Note 2025 2024 Ca8h usgd in operatlng actlvltks 167,432 14S,8381 Ca8h flo from inveoting actlvltlos Interest income Fixed asset purcha9es 2,753 194,7291 1.676 112,2901 Cuh (u8od) I provlded by Inve•tlng actlvltl•s 191,9761 110,6141 Increa5elldecrea5e) In cash and cash equivalents in the year 75,456 156.4521 Cash and cash equlvalenls al the beginning of the year 127.836 184.288 Tot•1 cash and cash •qulval•nts at tho end of tho y•ar 203.292 127,836 -12-
Chlpplng Norton Theatre Limited (The) Notss to the Iln•nclal Statements for the year ended 31st March 2025 Accountlng pollcle8 al 8a8is ol preparntlon These accounts have been prepared on an accruals basis and include income and expenditure as they are eamed or incurred, rather than as cash is received or paid. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland IFRS 1021, the Ch8nlies Act 2011, and UK Generally Accepted Accounting Practs'ce. The accounts include all the transactions, assets and liabilill8s for which the Charity is SpOnsible In law. The Charity conslilutes a public benèfit entity as defined by FRS 102. bl Income Voluntary income, including donations, gifts and grants a recognised where there is enlillemenl. certainty of receipt and the amount can be reliably measured. Voluntary income is deferred where the donor has specified that the donation or grant musl be used in a future accounting period. Investment income 1$ recognised on a receivable basis. Income from charitable acts"vilies is recognised as eamed through the provision of goods and services. l income is staled nel of VAT. Income is deferred where admission fees or performance reLqled grants ar8 received in advance of the perfomiances or events lo which they relate. cl D•prèclatlon and dlmlnutlon In valu• of a889ts Tangiblè fixed assets are staled at cost le88 depreciation. Depreciation is provided at rates calculated lo write off the cost or valuation of fixed assets, les8 their eslimaled resi¢Ju81 value, over their expected useful lives on the following bases.. Freehold buildings Theatre equipment Vehicles None 25% 25% reducing balance b8SIS reducing balance basis No depreciation is provided on the freehold buildings to the extent that the residual value is in excess of the cost. dl Stocks Stock is included al the lower of cost or nel realisable value. Donated ilems of stock are Cognised al fair value which is the amount the charity would have been willing lo pay for the Items on the open market. •) Loasing Renta15 paid under operating leases ar& charged lo the income and expenditure account on straight line basis over the term of the lease. fl Accountlng dl8¢108uro8 In commn with many other companies of our stte and nature we use our auditors lo assist with the preparation of the accounts. g) Irrecoverablo VAT The Charity is treated a5 partially exempl for VAT purposes and as such is not able to reclaim all of its input VAT. The amount of irrecoverable VAT is included within support costs. -13-
Chipping Norton Theatre Llmlted (Thg) Notes to the flnanclal Statements {contlnuedl forthe ye•r ended 318t March 2025 Actountlng pollcles Icontinued) h) Expendlture Expenditure is recognised when a liability is incurred. Costs of generating funds are those costs inCUrd in altracling voluntary income in the form of donations and gifts. Charitable activities include 811 direct costs and support costs asso¢ialed with the staging of performances and partipatIon or education activities. Governance cos15 represent those costs incurred in the overall governance of the charities and are primarily 8ssocialed with the Gost ol complying with conskn'lulional and statutory requirements. Support costs fepresenl central function costs and overheads, These costs have been allocated to category using a suitable apportionment percentage based on the costs directly allributsble to each category, i) Ponslon co•t• The charity operates a defi'ned contribution scheme for the benefit of qualifying employ8es. The costs of contributions are recognised in the year in which they become payable. Jl Fund accountlng Unreslricled funds consist of a general fund which th& Trustees may use al their discli0n for the furtherance of the objects of the Charity. Reslricled funds affj subi8ct to specific conditions Imposed by the donor or by the terms of an appeal. those conditions being legally binding upon the Trustees. k) Int•rn8t recelvable Interest on funds held on deposit is included when receivable and the amount can be m8asured reliably by the charity,. this is normally upon notification ol the inter851 paid or payable by the Bank. 11 Operatlng loa8e¥ The charity classifies the lease of printing. specialist lighting and audio equipm8nt as operating leases., the title lo the equipment remains with the lessor and the equipment is replaced every 5 years whi151 the economi¢ life of such equipment is norfn8lly 10 years. Rental charges a charged on a slraighl line basis over the tem) of the lease. rnl Debtorn Trade and other d8blor$ are recognised at the 5elllement amount due after any trade discount offered. Prepayments ar& valued al the amount prepaid net of any trade discounts due. n) Ca•h at bank and In hand Cash at bank and in hand includes cash and short term highly liquid investments with a short maturlty of three TrnthS or less from the dale of acquisition or opening of the deposil or similar account. ol Croditorn and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds lo a third party and the amount due to settle th8 obligation can be measured or eslimaled reliabty. Creditors and provisions are normally recognised al their selllemenl amount after allowing for any trade discounts due. p) Financial inslrum•nts The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments Basic financial instruments are inil12lly recognised at transaction value and subsequently measured at their settlement value with the exptIOn of bank loans which are subsequently measured at amortised c05t using the effective interest method. -14-
Chlpplng Norton Theatre Limited (The) Notes to the flnanclal Statement8 Icontlnuedl for the year ended 318t March 2025 A¢¢ountlng pollcles Icontinuedl ql Golng concern The Trustees are satisfied that the Theatre has adequate resefyes and that the forecasts for the next tAvelve months and beyond are suilably positive for the accounts lo be prepared on a going concern basis. L&go1 statu8 of Ihe charlty The Charity is a wmpany limited by guarantee. incorporated in England and Wales. The liability of the members in the event of a winding up is limited lo an amount not exceeding £1 per member. Not movem•nt of funds 2025 2024 This is stal8d after charging.. Auditors, remuneration audit of the financial slalemenls lax compliance seryices accountancy services Depreciation of owned assets 8,400 500 14,300 7.800 500 14.300 1.489 Donatlons and leg•cl•• Unre•trlct8d Restrlcted 2025 2024 Fundraising and donalK*ns Chipping Norton Theatre and Friends Trust Friends, Committee Funds Revenue grants Government grants - Chipping Norton T¢)wn Council Enstone Parish Council - WODC annual support funding 88,084 10,000 45,635 103,189 20,000 108,084 10,000 45,635 247,782 72,6C6 55,000 64,420 60,660 144,593 3,000 200 25,900 246,908 184.593 411,501 281.786 -15-
Chipplng Norton Theatre Llmlted (The) Note8 to the Flnanclal Statements {conlinugd} for the yearended 318t March 2025 Actlvltle8 for raSslng fund8 Unro8trlcted Restrlcted 2025 2024 Sponsorship Front of house trading Lettings income External seNKes provision 22,320 138,111 74,742 2.419 22,320 138,111 74,742 2,419 20,441 125,044 40,454 856 237.592 237.592 186,795 In¥e8tm•nt ineomo All of the investment income arises Irom Interest ceiVed on interest-bearing deposit and current accounts. Ineomo from ch•rlt•ble activities Unr08trlctod RMtrl¢t•d 2025 2024 Pantomime Live programme External Event income Cinema Take Part programme income Productions and projects Income Booking fee and other income Theatre Tax Relief 405.103 169.963 13,002 48,890 110,453 120,128 48,095 190,911 405,103 169,963 13,002 48,890 110,453 120,128 48,095 190,911 411.626 175,676 38,114 61,041 98,216 1 S,465 36,445 93,796 1,106,545 1.106,545 930.379 Co•t8 ol ralilng voluntary Income Unro•trl¢ted Re•trlcted 2025 2024 Fundraising 51aff other costs 30,600 14,701 7,181 30,600 14,701 7,181 5S,568 6,360 5,126 Support costs Isee note 12} 52,482 52.482 67,054 Costs of activiti•8 for ralslng funds Unrgstrlcted Restrictod 2025 2024 Front of house staff other costs 28,457 58,667 40,783 21,544 28,457 58,667 40.783 21,544 80,942 52,D08 18,494 15,378 Lettings Support costs 149,451 149,451 166,822 -16-
Chlpplng Norton Theatre Llmlted (The) Notes to the Financlal Statements {continuedl for th8 year ondod 31st March 2025 10. Expenditur• on charitablo activities Unrestri¢tod Rostrictod 2025 2024 Pantomime 234,803 234,803 218,603 Live programme 114,8S6 114,856 121,077 External and ¢ollaborative events 10,533 10,533 29,285 Productions and projects 146.134 146,134 10.981 Take Part staff other 48.559 101.179 54.025 56,367 110,392 Clnema 27.039 27.039 33.266 Box offi'ce staff other 36,437 35,395 36,437 35,395 59,655 33.265 Support costs 889,262 195 689,457 492,115 1.348,484 56.562 1,405,048 1,147,985 11. Staff eosts The avèrage numter of persons employed by the MPanY ¢Juring the year was as follows.. 2025 2024 Production Adminislralion and management 43 47 46 50 The aggregate payroll Costs were as follows.. 2025 2024 Wages and salaries Social security Employers Pension 478,647 30,166 8,823 424,958 24,364 7,749 522,756 457,071 No member of staff received total employee bènefi'ts of more than £60.000 during the current or previous financial year. No remuneration was paid. nor any expenses reimbursed. to any Trustee during the current or previous financial year. During the year, the Theatre paid £6,995 {2024.' £nill in redundancy payments to one employee. The charity's senior management team represent their key management personnel. Total remuneration for the year was £125,07912024'. £118,660). -17-
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Chlpplng Norton Theatre Limitèd {Thel Notes to the Financlal Statement8 (continued) forthe year ended 318t March 2025 13. Tanglble fixod assgts Freehold Land and Theatre Buildings Equlpment Total Cost: Al 1st Apfil 2024 Additions 892,290 294,897 94,729 1.187,187 94,729 At 315t March 2025 892.290 390.082 1.187,187 Deprnclatlon Al 1st April 2024 Charge for the year 294,897 294,897 At 31st March 2025 294,897 294,897 Net book v•lu•: Al 31st March 2025 892,290 94,729 987,019 Al 31st March 2024 892,290 892,290 14. Stock• 2025 2024 Goods for resale 4,798 5,485 10. D•btorn and propaym•nt8 2026 2024 Amounts falllng due wlthln one year: Trade debtors Prepayments and accrued income Theatre lax relief recover8ble 6,582 50,792 192,125 15.868 38.971 211.327 249,499 266.166 16. Cr•dltorn 2025 2024 Amounts falling du• within one year: Trade creditors Accruals and deferred income VAT creditor Other creditors 66,631 119,743 995 46,255 46,070 144,097 1,443 40,595 233,624 232,205 -19-
Chipping Norton Thoatr• Llmlted (The) Notes to tho Financlal Statement8 {contlnued) for th• year ended 31st March 2025 17. Re8qrves Balance at 1st April 2024 Balance at 31st March 2025 2025 Income Expondlture Transfers Unrestricted 129,291 1,593,798 11,550,417) 172,672 Des@n8t8d Property Fund 892,290 94,729 987,019 Restricted LED Project Foundation Stones Bursaries Take Part Projects 94,729 {94,729) 900 24,591 12.500 900 33,239 17,154 22,848 47,016 114,2001 {42,3621 Total Restricted 37.991 164,593 156,5621 194,7291 51,293 1,059,572 1,758,391 11,6C6.9791 1.21a,984 Bal•nco at 18t Aprll 2023 B•l•n¢o at 3181 Mar¢h 2024 2024 Income Exp•ndltur• Tran8forn Unrestr¢ted 87,501 1,383,367 11,321,577} 129,291 Désignatod Proparty Fund 880.000 12,290 892,290 Reslricled Foundation Stones Wel Room Bursaries Take Part Projects 900 15,401 32,207 24,788 900 4,538 soo 32,231 17,6491 18,1161 144,5191 {12.2901 24,591 12,500 Totsl Reslricled 73,296 37,269 160.2841 112,2901 37.991 1,040,797 1,400,636 11,381.8611 1,059,572 The Property Fund represents the nel book value of the theatre building. During the current and previous financial years, a number of other restricted funds were received in respect of specific projects that have either been completed or will be completed. These are clearly name(J above and include,. LED Project. Foundation Stones, Wel Room. All fvnds are expected lo be fully expended in the next financial year. Bursaries is a holding fund for the Tony and Judith Yarrow Bursary Fund used lo fund places and support for people lo access the Take Part programme. 11 also funds in ils entirety the cost of the SEN Youth Theatr6 group The Take Part Projects fund is used fof ftjnding given for 8 range of community and oulreaoh projects spanning multiple years.
Chlpplng Norton Th•¥tr• Limited (The) Notes to tho Flnanclal Statements Icontinufjd) forlhg year gnded 31st Mafch 2025 18. An•lysis of net ai$o18 botwwn funds Unrestrictsd funds Ro8trl¢tod funds Doslgnatgd funds Total funds 2025 Tangible fixed assets Current assets Current liabilities 987,019 987.019 457,589 1233.6241 406,296 1233,6241 51,293 Net assets at 31st March 2025 172,672 51,293 987.019 1,210,984 Llnrnstricted fund• R•8tri¢tod funds De61gnated funds Total fund8 2024 Tangible fi'xed assets Current assets Current lbilitIeS 892,290 892,290 399,487 1232,2051 361,496 1232,2051 37,991 Net assets at 315t March 2025 129.291 37.991 892,290 1,059,572 19. Rol•ted party tran8•ctlon• During the year, the Th8alre entered into the following related party Iransactton8'. The Theatre invoiced £4,69112024.' £7201 lo Cleenol Group Ltd, a cornpany in which R Greaves is diwlor, for theatre hire. The balance due from Cleenol Group Ltd al the year end was £nil12024'. £7201. The Theatre invoiced £nil12024.' £801 to Lawrence Home Nursing Team Ltd, a charity in which R GaVe$ 18 a director, for room hire. The Theatre also paid £nil {2024.' £5,945) to L8WTen¢e Home Nursing Team that had been raised on ils behalf. The balance to from Lawrence Home Nursing Team Ltd al the year end was £Nil12024. £1991. The Theatre was invoiced t3,11612024.. £3,054) by Robinson Technical SeNices Ltd, a company in which J RObinn is a D1ClOr, for building maintenance services. The balance due lo Robinson Technical S&rvices Ltd at the year end was £nil12024.' £nill. The Theatre was invoiced £nil (2024.. £2,509) by Grayling Thomas Architects Limited. a company in whSch A Thomas is a Director, for professional services proved. The balance due lo Grayling Thomas Architects Limited al the end was £nil12024.' £nill. The Theatre received £30,00012024." £nil} of reslricled donations from the CHK Foundation. a charity of which C Peake is a Tru519e. The Theat al80 CeIVed £2,529 12024.. £nil} of unrestricted donations from a charity with 8 shared Trustee. -21-
Chipping Norton Theatre Llmlted {Tho1 Not•s to the Flnanclal St•temonts Iconllnuodl for the year ended 31st March 2025 20. Reconclllation of nel mov8m8nt In funds to n•t ca8h flow from operatlng actlvltle• 2025 2024 Nel movement in funds Add back depfeciation charge including loss on disposal Deduct interest income shown in investing activitses Ilnorea$clldocrooGo in stock Ilncreasel in debtors Oecrease in creclitors 151.412 18,775 1,489 11.6761 13.1191 186,251} 24,944 {2,7531 687 16,667 1,419 Ngt cash u•od In op•rntlng activltl•• 167.432 {45,8381 -22-