## Chairman’s Report
Another trying year for us all. Getting productions to stage and in front of audiences has been a challenge. We looked at how this could be done safely for all as the year progressed. During October and November we were able to film a five monologues, mostly written and all performed by our members. These were made live on You Tube and can still be found here –
= https://www.youtube.com/playlist?list PLgqJSj6RsTbYLc1MFqD3Un1x47GIuPpdn – We also managed to film a production of Arthur & Esther by Ross Howard just before the restrictions tightened again in December. This was our You Tube live stream production in January.
As the restrictions began to ease further we have been able to put on three live productions, all with limited audiences. In May a one-woman mime production by our member Sarah Davies, which has gained interest in other venues since. This was followed in June by our Brighton Fringe production of Lemons, Lemons, Lemons, Lemons, Lemons by Sam Steiner. Both of these productions were in our Studio with a café style seating setup and an audience of less than 20 per performance. For our July production of Miss Julie we moved to a 50% audience. Although limited seating was available it was good to see a high take up for all these productions.
We started our new season in October and hoped to have a full programme for the year. Some of these productions will be rescheduled ones from 2020. Currently we are planning our Sunday matinees to be 50% audience, with the rest back to capacity. Sadly Covid has hit our November and December productions.
During the lockdown and our extension of membership we have been able to revisit the membership process, which is now completely online – offline payments can still be made though. This has assisted in allowing for the updating of the areas of interest of all members. We currently have just over 340 members, although this figure may be skewed by the extension of some who may not have renewed. Many thanks to Raymond for the work he has put into getting the new system up and running.
A few role holders have stood down and we have a few vacant roles for the coming year. We wish them well in their other ventures. Many thanks to them and all who have helped to keep us going throughout the last year. Despite a rocky start to the current season, we hope for better times and a strong return of live theatre at the New Venture.
## **NEW VENTURE PRODUCTIONS New Venture Theatre Bedford Place Brighton BN1 2PT**
# **Financial Statements For the year ended 31 August 2021**
## **Charity Registration Number: 268607**
## INDEX
- Income & Expenditure Account year ending 31 August 2021
- Assets & Liabilities including Reserves Policy 31 August 2021
- Financial review and commentary year ending 31 August 2021
- Independent Examiners Report 31 August 2021
Page **1** of **9**
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Page3of9
## **Financial review and commentary year ending 31 August 2021**
## **Overview**
The year to 31 August 2021 was a challenging year for New Venture Productions as a direct result of UK government restrictions relating to the pandemic. A particular challenge was the need to continue to maintain NVT’s freehold Grade 2 listed building to ensure that, when the time came to reopen the theatre, facilities were available and in good order. Fortunately, UK government support provided a welcome income stream to help replace lost income from ticket sales and associated income, membership subscriptions and fees normally received to cover the cost of providing community acting classes and NVYT, the youth theatre.
NVT launched a five-year rolling plan of works with an anticipated total cost of £80,000. The year to 31 August 2021 was Year 1 and the refurbishment project concentrated on the repointing and refurbishment of the theatre’s South Wall. The cost including surveyor, scaffolding and builders amounted to £8,415 funded by relevant donations received in the current and previous years. The Year 2 fund raising commenced in September 2021. Progress reports are available in the theatre, in NVT’s newsletters and on the website. It is hoped that NVT’s 2021/2022 season will achieve 10 productions at full capacity and that NVT will return to normal operating levels.
A comparison of the current financial year to 31 August 2021 against earlier years has limited relevance given the unusual circumstances however the comments below provide context around NVT’s Income and Expenditure Account for the year ending 31 August 2021 and the statement of Assets and Liabilities at 31 August 2021.
A decision was taken to change the reporting format, this document reflects the change. To ensure consistency of approach it has been necessary to restate some figures for 2020.
## **Income**
Income for the year to 31 August 2021 totalled £34,412.37 of which 60%, £20,708,00 was UK government Covid support funding.
## **Ticket sales**
The year to 31 August 2021 was a limited season comprising five free filmed monologues on the NVT website and an online filmed production of “Arthur and Esther” in January 2021. This was followed by a free performance of “Bag Lady” in May 2021 used as a tester for NVT’s socially distanced arrangements, implemented for a full run of “Lemons, Lemons, Lemons” in June 2021. This was followed by a full run of “Miss Julie” in July 2021 which also operated to reduced capacity.
In the year to 31 August 2020 NVT was able to stage 5 productions for their full run plus part of the run for “Quartet”, the March 2020 production.
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As a result, gross tickets sales were significantly reduced in the year to 31 August 2021 totalling £4,627.38 (2020 £26,439:2019 £42,901)
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## **Bar and Programme sales**
Income from Bar and Programme Sales are directly dependent on live performances so a fall in income from these sources for the year to 31 August 2022 reflects the limited live performances and reduced audiences described above.
## **Membership subscriptions**
Membership subscriptions were suspended from March 2020 for 18 months. Any renewals or new subscriptions in this period received an appropriate extension to their annual membership period. A new membership management tool, MOJO, was introduced on a rolling basis with effect from June 2021.
## **Donations**
**----- Start of picture text -----**
Analysis 2021 2020
£ £
Ad Hoc and added to Ticket source sales 975.68 368.30
Provided to support renewal and refurbishment 3,620.00 5,000.00
at NVT
Gift Aid claimed and received 254,17 Nil
Total £4849.85 £5,368.30
**----- End of picture text -----**
NVT registered to claim Gift Aid with effect from early 2021. All donations received from 1 September 2021 will be used to support NVT’s ongoing five-year plan of renewal and refurbishment of the theatre building
## **NVYT and Acting classes**
In support of NVT’s charitable objectives the trustees decided that both the Youth Theatre and the Acting class would be provided free to an online audience for the standard three terms in the year to 31 August 2021. Attendees at the Acting Class were given the option to donate the cost of the class, any monies received from that source in the year to 31 August 2021 have been included as ad hoc donations.
## **UK Government Covid support**
**----- Start of picture text -----**
Analysis 2021 2020
£ £
Mar 2020 - One off Support grant 10,000.00
Dec 2020 – Mar 21 - Lockdown support Tier 4 6,708.00
Jan – Feb 2021- Brighton and Hove 6,000.00
Discretionary award
May 2021 – Covid restart grant 8,000.00
Total £20,708.00 £10,000.00
**----- End of picture text -----**
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## **Other Income**
**----- Start of picture text -----**
Analysis 2021 2020
£ £
Fee received for hire of theatre as a Polling 750.00 750.00
Station
Banking of Cash Float re theatre closure 780.08
Commercial 2-year sponsorship 250.00
Refund Performance rights 691.20
Electricity refund 271.49
Sundry income 11.49 44.36
Total £1544.14 £2,007.05
**----- End of picture text -----**
## **Expenditure**
Expenditure for the year to 31 August 2021 totalled £38, 279.31.
Throughout the lockdown the theatre premises were maintained, and various ongoing remedial works undertaken. The unusual circumstances provided the trustees and volunteers with the opportunity to identify areas in the theatre building that required more material renewal and refurbishment.
## **Building running costs and maintenance**
During the year to 31 August 2021 the theatre was kept ready to reopen when the UK government lifted restrictions. This meant that many running costs, for example gas, telephone and internet, general day to day maintenance and cleaning and recycling remained largely unchanged from the year to 31 Aug 2021. The main savings arose from:
- reduced electricity charges (2021 £612.47:2020 £3,439.00) partly due to less usage and partly a material refund of prepaid charges. Note NVT’s accounts on a cash not an accruals basis;
- a waiver of general rates to 30 June 2021 (2021 £69.76:2020 £320.00); and
- reduced water usage (2021 £258.59:2020 £536.91).
## **General Office expenses**
Given the lockdown and the social distancing requirements the trustees implemented new arrangements to continue the running and oversight of the theatre whilst also complying with UK Government restrictions. These are reflected in the following elements of General Office expenses:
- a significant reduction in Newsletter and Brochure printing costs as the newsletter was transferred online with a minimal number printed to be posted to members who do not have ready access to the internet (£2021 £454.36: 2020 £1,554.00):
- introduction of a NVT Zoom account for online Committee, Trustee, Production etc meetings (2021 £206.29: 2020 £Nil); and
- a reduction in postage as a result circulating the newsletter by email (2021 £25.75: 2020 £190.36).
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The pre lockdown newsletter distribution arrangements, including placing copies in the theatre during productions were reintroduced from September 2021.
Other General Office expenses remained largely the same, for example the credit card facility, reflecting the fact that the theatre was maintained ready to open for business.
## **Development and improvements**
These costs relate to purchasing and upgrading the theatre. During the year to 31 August 2021 the trustees strived to reduce and minimise costs wherever possible. This is reflected in the spend on Developments and Improvements (2021 £1,217.67:2020 £6416.28).
## **NVYT and Acting class teaching costs**
See the comments at Income above. A decision was taken by the trustees to provide a full year programme for both the Youth Theatre and the Acting Class at no cost to participants reflecting the challenging environment during the Covid pandemic. NVT funded the teaching fees for these classes from reserves at a cost of £2119.00.
## **Subscriptions and Insurance**
NVT’s insurance arrangements were reviewed in detail in the year to 31 August 2021. This resulted in the trustees taking the decision to increase some aspects of the insurance cover in line with best practice. The overall year on year decrease in the charge for subscriptions and insurance is primarily due to the absence of charges from PPL/PRS.
## **Production and Associated costs**
Production and Associated costs (printing, rights and licences, bar stock, workshop costs, Brighton Fringe registration, etc.) are, not unexpectedly, considerably reduced in the year to 31 August 2021 (2021 £4643.27: 2020 £13753.73). This reflects the reduced activity in the year. It should be remembered that the year to 31 August 2020 was also a limited season which finished part way through “Quartet” in March 2020.
## **Refurbishment costs - South wall**
These costs were identified as the year 1 project within NVT’s five year “Renew at New Venture”.
**----- Start of picture text -----**
Description £
Costs incurred year to 31 August 2021:
External Inspection and Surveyors Report 720.00
Scaffolding for inspection and refurbishment works 4,455.00
Refurbishment works 3,805.00
Total costs £8,415.0
0
Funded by:
Donations 2020 5,000.00
Donations 2021 3,620.00
Interest received 2.35
Total Donations £8,620
**----- End of picture text -----**
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Excess to carry forward to Year 2 “Renew at New Venture”
£207.35
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