BROS THEATRE COMPANY BROS TFIFiATKF. COMPANY BROS THEATRE COMPANY REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024
BROS THEATRE COMPANY ANNUAL REPORT OF THE COMMITTEE FOR THE YEAR ENDED 31 JULY 2024 REFERENCE AND ADMINISTRATIVE DETAILS - TRUSTEES AND ADVISERS BROS Theatre Company is a regist8red charity wrth the Charity Commission for England and Wales (no. 269985). The Committee for thé year ended 31 July 2024 comprised the following.. President.. Lottie Walker Chairman: Martin Wilcox (Trustee) Secretary". Deborah McDowell (Trustee) Treasurer.. Elizabeth Brignall (Trusteel Members.. Alexander McKinven Enrico Volpi Emma Hartnett Caroline Hayes Juliet Manner6 Heather Sto¢kwell Contact Details.. BROS Theatre Company clo The Chair 67 Grasholm Way Slough Berkshire SL3 8WF Bankers: HSBC 67 George Street Richmond Surrey TW9 1HG STRUCTURE GOVERNANCE and MANAGEMENT BROS Theatre Company 'the Charity, is a members, club organised in accordance with its adopted Rules under which the fflanagement of the Charity is vested in a Management Committee comprising the officers ofthe Charity (Chair, Secretary and Treasurer), a Deputy Chair (if elecled), and up to 6 other members. The Management Committee are all elected annually bythe members ofthe Charity at an Annual General Meeting. Th8 Chair, Secretary and Treasurer are Trustees of the Charity. The Rules are for all intents and purposes treated as the document governing the operation of the Charity. The Management Committe8 is responsible for furthering the charitable objectives set out in the Rule5. Although the officers of the Charity do not undergo any formal training as trustees of a charity, they have access to advice in such matters online and from the Charity's Independent examiner. All are aware of the legal obligalions of the Trustees. Charity Commission Accounts Page 1
BROS THEATRE COMPANY OBJECTIVES AND ACTIVITIES The objectives of the Society are". to educate the public in the operatic and dramatic arts, to further the development of public appreciation and taste in the said arts, and to assist and further such charitable institutions and charilable purposes as the Committee shall from time to time determine. During the year, the Society undertook productions. Calendar Girls and Seussical were staged at Hampton Hill Theatre, High St. Hampton. The trustees have reviewed the outcomes and achievernents of our objectives for the year, to ensure that they remain focused on our charitable aims and continue to deliver benefits to the public. RISK POLICY The Truslees annually review any risks to the Charity and have taken the necessary measures to mitigate any possible risks. RESERVES POLICY The Committee has reviewed the reserves policy and this has remained consistent with the prior year. Analysis of a series of 'worst-case' snarioS has been carried out-, given the society's regular programme of activity, the Committee believes that the Society should hold reserves enough to cover the following= The payment of all non-refundable expenses following the total fingncial loss of ticket sales & other income from an average show at Richmond Theatre: £60.0k. The payment of all non-refundable expenses following the total financial loss of ticket sales & other income from an average show at the Minack Theatre.. -£22.0k. The payment of all non-refundable expenses following the total financial loss of ticket sales & other income from an averago show at Hampton Hill Theatre= £17.0k. Six continuous months of general operating expenses for the Society.. -£3.0k. Based on the above numbers, the Committee concludes thatthe Society should hold general reserves of -£102k in order to commst to perform shows at Richmond Theatre combined with two further shows booked at other venues. FINANCIAL REVIEW Theatrical Productions The Financial Year to 31 Juty 2024 has been another successful year for the Society. The Society staged two full scale productions, Calendar Girts at Hampton Hill Theatre in October 2023 and Seussical also at Hampton Hill Theatre in May 2024. Both were an artistic success and were greatly enjoyed by our local audiences and our membership. Given the higher costs of putting on productions, particularfy in relation to theatre and rehearsal room hire, the committee agreed to provide a subsidy of £2,000 to both of the Hampton Hill shows in the year to 31 July 2024. This was to ensure that production values were maintained whilst limiting the increase in ticket prices. We are able to offer this subsidy Charty Commission Accounts Page 2
BROS THEATRE COMPANY due to the eXptIOnal financial success achieved in the year to 31 July 2023 on both the Richmond and Minack productions. Calendar Girts was performed from the 14 to 18 November 2023 at Hampton Hill Theatre, having been postponed by a year to due to the rescheduling of The Addams Family at Richmond Theatre to Autumn 2022. The show was a great success and very much enjoyed by audiences and cast members. The show was fully sold before opening night and made a profit of £2,441. The show's success was also reflected in three nomination5 for the Arts Richmond Swan Awards, including Best Supporting Performer in a Musical in a Female role. Best Supporting Performer in a Musical in a Male role and Best Music21 Production. Calendar Girls also received the NODA Flame Award for District 3 for 'lnspirational Contribution to the Pursuit of Excellenc8 in Theatr8 and Enhancement of the overall Theatrical experi8nce'. Seussic81 was performed from 21 to 25 May 2024 also at Hampton Hill Theatre. The show attracted a younger company and we were delighted that 10 new cast members joined the society. Being a lesser known show ticket sales were slower and ultimately 650/0 of tickets were sold resulting in a loss of £2,807. This rnagical and vibrant produclion was a great artistic success and hugely enjoyed by audiences, the cast and our membership. The combined shows made a small loss of £366 and this should be seen in the context of the budg&led loss of £4,000 (£2,000 for each show) as detailed above. Othar Activitles In addition to the staging the productions above BROS has also undertaken numerous other activities= BROS Academy workshops.. Fay8 Brann has r&energised the BROS Academy this year by offering an increased number of varied Academy sessions, both as an opportunity to attract new memb8rs and offer a means of engagement for those not actively involved in productions. Academy events included Dan workshops with Stephie Birtig and Gemma Mehuish., A Capella singing with Hannah May Lucas.. Exploring Stagecraft with Paul Madeley., Audttion Technique with Nikki Gerard; Discussion on Pitching a BROS show.. and the very Big Sunday sing of the Pirates of Penzance with Chris Nash. These events were well altended and enjoyed by members, while providing an opportunity for members and non-members to enhance performance skills in between shows. Thank you to Faye and to everyone for running these Academy sessions. Social events.. We were once again invited sing Christmas Carols by the OSO at the Barnes Christmas Festival on Friday 8 December 2023. Lots of members joined for this joyous occasion lead by Janet Simpson. This was followed by a Christmas Curry, at the Haweli restaurant in Barnes which provided an opportunity for members old and new to gel together and celebrate. The Broscars Awards took place on 3 February 2024 at the Normansfield Theatre, a beautiful venue which supports children with Downs Syndrome. Organised by Louise Ellard Turnbull and Juliet Manners it was a glorious sparkling evening with singing, entertainment, lots of laughter, awards and dancing. Summer drinks were held at the Hare and Hounds in East Sheen on 30 August 2024 to get members together at the end of the summer holidays. Charty Commission Awounts Pag8 3
BROS THEATRE COMPANY Theatre trips included Crazy For You on 20 September 2023 at the Gillian Lynne Theatre and Kiss Me Kate on 18 July 2024 at The Barbican. Memborship At last year's AGM it was agreed to introduce new bands of membership. Full members for those participating in shows and Academy events pay £30 annual membership, and Resting members pay an annual membership of £20. This has resulted in a small increase in Membership fees in the year and we expect a further uplift in FY25 as many renewals tske place after the year end in October. Membership numbers have held fairly steady at around 138 {FY23: 1401, with cancellations from former members broadly matched by new members joining. Charitable donation Our most frequently used theatre venue, Hampton Hill Theatre, is now 25 years old and currently undertaking fundraising for the maintenance and upgrade of the theatre. The Committee agreed to make a donation from the Society's funds in FY24 of £5,510 providing halfof a new lighting desk. We chose to make this donation to support Hampton Hill Theatre following the excepiional financial success achieved in the year to 31 July 2023 on both the Richmond and Minack productions. This donation is in accordance with our objective to asslst other charitable institutions. Club 24 Club 24 income has increased slightly during the year due to a number of new members. Several numbers are available to purchase and we are seeking new Club 24 members for these. Summary of Other Income and Expenditure Income for the year has been significantly enhanced by an increase in inlerest receivable on funds held in savings accounts due both to the larger amount of funds held and the relatively high interest rates, which has supported the increase in costs as detailed below. The operating expenses for the Society have risen in the year primarily due to increased expenditure on our website and the planned provision of a larger number of Academy events. This was partially offset by lower storage costs following a move to a new storage provider, Big Yellow, for our costumes, props and music stands. Other expenses have held fairly steady. with inflationary increas8s. End of year position The Society concluded the Financial Year for FY24 with a loss of £3,287 (FY23: gain £41,799). We note that prior lo our one-off charitable donation, a gain of £2,223 would have been achieved for the year. The small loss on productions was £366 (FY23'. profit £41.791) and total net assets amounted to £145,886 (FY23'. £149,173). The trustees consider that the society remains in a strong financial position. Charity Commission Accounts Page 4
BROS THEATRE COMPANY CHAIRMAN'S REPORT ON PLANS FOR THE FUTUR The Society intends to put on three productions in FY25= Soho Cinders, Hampton Hill Theatre in Nov 2024 The Kids Left. The Dog Died. Now What? OSO Barnes in February 2025 Company, Hampton Hill Theatre in July 2025 'Soho Cinders, was the second of the shows to be confirmed by the 2022-23 Committee and 'The Kids Left. Th8 Dog Died. Now What? and 'Company' have been confirmed by the current Committee. We have perfomwnc8 dates secured for both Richmond Theatre {Feb 2026) and Minack (Aug 2026} and plan to have the productions confirmed by November 2024 and February 2025 respectively. Thereafter, we are considering plans for a three-year cycle of productions from 2027 onwards which will include performances at Richmond Theatre, Minack, Hampton Hill and the OSO. With our EDI Policy & Statement signed-off this year, tho Committee is now considering options to make our productions more inclusive. not just for Members, but also our audiences. We are willing to use the Societies, funds to achieve this, rather than increasing the pressure on production budgets. We are continuing to invest in necessary updates to our websile, including a number of 'back-end' requirements. This is essential for us to operate efficiently as a Society, maintain easy-to-see archives and lo present well to potential new members and the publi generally. Under the supervision of Faye Brann, the Committee continues to invest funds in a programme of BROS Academy sessions. We recognise that the Academy offers a way of engaging our Members with performance and educational workshops as well as an effective way of attracting new members. Ir) efforts to continue to attract and increase audience numbers, marketing remaiT%S a key part of our future success. We will maintain the consistently high standards of materials and approach introduced over recent years with a dedicated marketing resour¢8 for each production. We remain focussed on production budgets - especially with increases to many expenditure items. As wilh the last Financial Year, the Committee has agreed to use part of the extra-ordinary profit generated in FY23 to subsidise limited losses on productions in the smaller venues we use, balancing increased costs with acceptable ticket prices for Members and supporters. Careful financial management will allow BROS TC to enjoy putting on quality productions with the high standards and production values we have become known for. We continue to work with shorter rehearsal periods for our productions at Hampton Hill, and now the OSO, to help manage fixed costs alongside fees for musicians, rehearsal pianists and MDS in line with other local Societies. The Committee and I will continue to work on a varied programme of productions (in terms of style and size} alongside opportunities to learn and have fun, with an aim to increase and diversify our membership. Charity Commission Accounts Page 5
BROS THEATRE COMPANY TRUSTEES, RESPONSIBILITIES STATEMENT The trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordan with applicable law and United Kingdom Accounting Standards {United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England and Wales requires the trustees to prepare financial statements for each financial year which give a Irue and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistentty. observe the methods and principles in the Charities SORP., make judgements and estimates that are reasonable and prudent., state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements., prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy al any time the financial position of th8 charity and enable them to ensure that the financial ststements comply with the Charities Act 2011, the Charity (Accounts and R6POrts} Regulations 2008 and Ihe provisions of the trust deed. They are a150 responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Approved by the Trustees on 2024, and signed on their half b Martin Wilcox Trustee Charity Commission Accounts Page 6
BROS THEATRE COMPANY INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF BROS THEATRE COMPANY I report to the trustees on my examination of the accounts of BROS Theatre Company in South West London for the year ended 31¥1 July 2024. Rosponslbllltlog and basis of report As the charity trustees of the Society you are responsible for the preparation of the accounts in accordance with the requirements of the Charitie5 Act 2011 (the Act). I report in respect ofmy examination ofthe Society's accounts as required under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145{5Kb) of th8 Act. Indepondent examiner's $tatoment I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. 1. Accounting records were not kept in respect of the Society as requir8d by section 130 of the Act., or 2. That the accounts do not accord with those records,. or 3. That account do not compty with the applicable requirements concerning the form and content of accounts set out in the Charilies (Accounts and Reports) Regulations 2008 other than the requirement thal the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination. I have no conrnS and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mrs. Christine Asirwatham BA, CMA, CPA 263 Croydon Road Wallington Surrey SM6 7LR Date.. 024 Charty Commission Accounts Page 7
BROS THEATRE COMPANY STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 JULY 2024 Unrestrictsd Funds Total Funds 2024 2023 2024 2023 INCOME Income from Charitable acttvities.. Donations, Legacies & Subscriptions Operating Activities of the Charity Investment Income Other Incoming Resources TOTAL INCOME 3,355 3,308 39,459 149,687 4.893 1,643 5,969 5,600 160.238 3,355 3,308 39,459 149.687 4,893 1,643 5,969 5,600 53,676 160,238 EXPENDITURE Activities in Furtherance of Objectives Support Costs for Above Activities TOTAL EXPENDITURE 50,549 112,071 6,414 6,368 56,963 118,439 50,549 112.071 6,414 6,368 118.439 NET INCOMEI(EXPENDITURE) (3.287) 41.799 (3,2871 41,799 RECONCILIATON OF FUNDS FUND BALANCE BROUGHT FORWARD 149,173 107,374 149,173 107,374 FUND BALANCE CARRIED FORWARD 145,886 149,173 145.886 149,173 Charity Commission Accounts Page 8
BROS THEATRE COMPANY BALANCE SHEET AS AT 31 JULY 2024 2024 2023 FIXED ASSETS (Note 2) Fixtures, fittings & equipment 280 502 280 502 CURRENT ASSETS Debtors and prepayments Bank current account (Club 24) Bank current account Bank deposit account 95 day savings account 180 day savings account PayPal 5,251 311 1,951 33,987 55.080 50,000 318 4,625 491 2,259 89,762 52,953 703 146,898 150,793 LESS . CURRENT LIABILITIES Creditors and advance receipts (1,292) (2,122) NET ASSETS 145,886 149,173 THE CHARITY'S FUND UNRESTRICTED FUNDS Balance blf as at 151 August 2023 Retained surplus l (deficit) for the year 149,173 3,287 145,886 107,374 41,799 149,173 st Balance clf as at 31 July 2024 Approved by the Trustees on and signed on thèir behalf by.. Ipert ty Elizabeth Brignall Trustee Charity Commission Accounts Page 9
BROS THEATRE COMPANY NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 JULY 2024 NOTE 1- ACCOUNTING POLICIES Basis of Preparation of the Accounts The accounts (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 Financi81 Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) (effective January 2015) and the Charities Act 2011 and applicable regulations. The accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unEess otheThYise staled in the notes to the accounts Income and Expenditure Income and expenditure relating to a production is included in the accounts for the year in which the show is performed. Any income or expenses relating lo future productions are treated as advan reipts or prepayments on the balance sheet, and not shown in tha income and expenditure account until the year of the show. Income from membership fe8s is included in the accounts for the year in which the subscription period commences, and income from Club 24 subscriptions and donations are included in the accounts on a receipt's basis. Other income, such as interest receivable, is recognised when the income is earned. Other costs. such as the costs of running the society, are recognised as they are incurred. Tangible Fixed A88ets Depreciation is provided at the following rates: Fixtures, fittings and equipment_ 25010 reducing balance basis Significant items purchased by the Society are included on the balanc6 sheet as "fixed assets. and then written-off over their expected useful life. This depreciation charge is charged to the income and expenditure aoUnt each year, until the whole cost has been written-off. Charity Commission Accounts Page 10
BROS THEATRE COMPANY NOTE 2- TANGIBLE FIXED ASSETS Fixtures, Fittings and Equipment Total Cost At 1 August 2023 Additions Disposals I Write offs At 31 July 2024 13,134 13,134 (1,008) 12,126 {1,0081 12,126 Depreciation At 1 August 2023 Current year depre¢iation Disposals I Writes offs At 31 July 2024 12,632 222 (1,008) 11,846 12,632 222 (1,008) 11,846 Net book value ¢arrled fonvard 280 280 Net book v8lu8 bmught forward 502 502 NOTE 3- DISCLOSURES Trustee Remuneratlon None of the trustees received any remuneration during the year, nor did they claim any expenses. Independent Examiner Fees The independent examiner (Christine Asirwatham) agreed to work on a pro bono basis for services in FY24 (FY23= £0). Charty Commission Accounts Page11