BRENTW, THEATRÉ BREwfwooD THEATRE TRUST (A company limited by Guaiantee) REPORT AND FINANCIAL STATEMENTS FOR THE YEAR TO 31 JULY 2023 Charlty Number 285716 Company Number 1669034
BRENTWOOD THEATRE TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2023 PRESIDEKr The Lord Petre VICE PRESIDEKrs Audrey Longman Jean McGinlev Mary Redman Lionel Wernick DIRECTORS Michaol Hawklns Ichalr) Stephen Abbott (Hon. Trnasurgrl Michael Bond Gary Catlin Anne Elllss Penelope Holllngton Peter Mayo Robert Southgats IDeputy Chalrl Patrlck Stevons illiam Well• COMPANY and MINUTES SECRETARY Jos Holllngton REGISTERED OFFICE 15 Shenfleld Road Brentwood Essex CM15 8AG COMPANY NUMBER 1669034 IEngland & Wales) CHARrrY NUMBER 285716 BANKERS HSBC Bank pl¢ 91 High Street Brentwood CM14 4RU REPORTING ACCOUlANT Rlchanl Lambourno
BRENTWOOD THEATRE TRUST DIRECTORS, REPORT FOR THE YEAR ENDED 31 JULY 2023 The Directors submit their report and the financial statements of the wmpany for the year ended 31 July 2023. CHAIRMAN'S REPORT This year has continued to be one of recovery and change. We have now enjoyed a second full year since the pandemic brought a hugè existential threat to the theatre - back to relatively full programmes of productions and hiring to performing groups. With the dedication of the theatre Manager. lan Southgate. and hi5 team. plu¥ the support of our many loyal patrons, we survived the Covid threat and continued to b8 a centre for the arts in 8rentsvood. But. in common with the rest of the counlry. we faced another threat - rampant inflation, huga increases in costs. Utilities and other suppliers, costs in¢reased substantially. and staff costs had to reflect market conditions. This e¢onomie threat. experienced by many businosses land individuals) across the country. has been refiect8d in the loss we are reporting for the year. It is a150 true to 88y that the current financial crisis impacted both the return of audiences Iperhaps additionally reflecting a cautious return to normality after the pandemic), as well as hiring groups. who also face economie challenge$. However. the substantial investment made in repurposing and modemi9ing the thealTe will. we are ¢onfident, pay dividends as we are forecasting a small surplus for the coming year. We are proud of the new foyer and the su¢ce$sful move from office-base administration to Cloud-based, freeing up valuable space for hiring-out to businesses. Improvements have also been made to the p8rforming space. the heart of the theatre. The coffee bar continues to offer delicious coffees, te•s and cakes in 8 very pleasant environment. HowVer. we concluded that the most popular use of the facility appeared to be in the oarlier part of the week; so the opening hours have changed to 8 Monday-to-wednesday basig. The bar itsell of course still operates for 811 produrtions. Our successful participation as joint organisers of the 8rentw¢)od Half Marathon, in partnership with Brentwood a Be¢ket Rotary club, St Francis Hospice and Brentwood Running Club, has proved an excellent source of fund-raising income to the theatre. The charity race is now being run as a separate consortium entity. having previously been operated by the Rotsry club, and our 8xpect8tion is that our involvement will continue for some tima to come- offering not only a valuabl8 source of charity fund-raising but maintaining one of the Borough's key communlty events of each year, as it has been for four decades. Our thanks go to Theatre Vice-chair Bob Southgate. assisted by Peter Herrington. for their enthusiasti¢ involvement in the consortium. During the year. an initiative was started to attract sponsorship. A proposition for potential sponsors was developed and it is pleasing to note that two prominent local business firms have agreed to be 2023124 headline sponsors. whos8 names will be associated with the th8atre Baker Labels and Tees Law. We are grateful to them. and their participation will play a significant part in enabling the theat to achieve a positive financial outcome in the coming year. The theatre has also proved popular as a venue for business conferences and we have even hosted weddings. demonstrating its versatiltty and attraction not just confined to theatrical productions.
BRENTWOOD THEATRE TRUST Theatre Management l offer thanks and congratulations to Theatre Manager. lan Southgate. who has had a difficult year to navigate. He lost a key member of staff. Bex Forman. who decided to move on after many years of devotion to the theatre. We had the opportunity to thank her for her years of service. There have been other changes in stsff during the year, but the core team of Technical Coordinator Reece Crisp and our tsvo technicians. Clara Moss and Guy Lee. remains in place - and former Barista Bryony Cobton agreed to take on the rol8 of part tim8 Front-of-House Supervisor. Voluntoors As we have often remarked. the Theatre Uld not operate without tha wonderful support given by so many volunteers. and we are very grateful to them all. l am pleased to Say th a substantl81 number have taker) on these voluntary roles. Flnance8 After last yearfs positive fin8ncial outcome. it is disappointing to report a loss of around £30k itsking into account provision for major maintenance) and the Financial Review $e¢tion gives more detail. It h8s been a difficult financial year for th8 theatre, but we know we gre f8r from alone in experiencing this. However. we have plans and initl8tives in place. building on the major investment in the future of the theatre. which should result in a Small $urplus in 202312 Communlty Involvement Tho Theatre has a strong involvement with the Ioc81 community- Arts Trail. Half Marathon. Get into Arts Festival, alongside supporting the many organisationg that call us "homo". More recently we have become involved with the Good Company. a project designed to help tackle dementia. Theatre Manag8r lan Southgate is Vice-chair of the Brenlwood Business Partnership. which ha$ played a major role in the decision for Brentwood Borough to become a Business Improvement Distrirt (BIDI which will bring much needed investment into making our community a more vibrant pla¢e in which to do business and live. We are optimistic that the Theatre. as the primary arts hub of the Borough. will featur6 prominently in future plan$ for the BID. Th08tre Sho We had a full year of community and Commercial hire8 and professional touring shows. In fact the theatre hosted around 270 performances and. when tsking into account community hires, the tot81 was over 300 - a busy year by any stsndards. I would like to single out the Christmas show of 2022 - Th8 Twelve Days olChnstm8s- which went down very well with audiences: 8nd full pre-christmas programme for this coming December promises to b8 another hit. Fund-Ralslng I have already referred to the Theatre's substa181 involvement wtth the Brentwood Helf Marathon and our exciting sponsorship programme. Board Director and veteran performer, Bill Wells, also organises other fund-raising events. For example. the evening featuring 'lo¢al boy,, actor, John Heffernan was a huge success. Bill's relaxed and informed interviewing technique has helped make such evenings very popular. Next year marks the start of our 30th Anniversary as an operational Theatre which afftirds an opportunity not only for celebrations but also for additional fundraising.
BRENTWOOD TrIEATRE TRUST The Theatro Board I would like to express my grateful thanks to the members of the Board who are all volunteers and bring valued expertise from many fields. as well as great enthusiasm, for the benefit of the Theatre. They range from the Headmaster of Brentwood School to the Senior Partner of Tee$ Law in Brentwood and encompass many other disciplines. We are also grateful for Brentwood Council's support. symbolised by the presence on our Board of a member of the new administration. Our President. Lord Petre. has been a stsunch supporter for many years; to him, all the Board members. and to all OLtr friends and supporters. l offer heartFelt thanks. Finally. l am saddened to report the death of Mike Turner (Chairman of the Theatre Trust 1987- 19961 who died just prior to our 2022 AGM. Mike played a cnjcial role in th8 theatre's history during his tenure as Chairman and had continued io support us since. including by way of a legacy in his will. Miko Hawklns Chairman
BRENTWOOD THEATRE TRUST PRINCIPAL AcMvrtY The comp8ny operates a local theatre for the purposes of en(xJuraging and promoting local Arts and Drama and the education of local youth. FINANCIAL REVIEW A very disappointing year from a financial point of view., with a deficit before deprecigtion of £20.648 compared to a surplus of £7,108 in the previous year. We, in common with most Theatres. are witnessing very difficuft trading conditions with high inflation impacting our expenses and cost of living crises impacting both hires and audiences. Our major expenses are wages lover 50% of total expenses) which saw double digit incre8se in minimum wage, and Heating and Lighting 111% of total expenses) which increased by 55Yo. The other disappointing area is barlcafe which has produced a deficit of £1.971 compared to a surplus of £7,795 last year. The footfall in the cafe has been slow to build up. hen¢e the decision to only open 3 days week. Of course. it is not 811 doom and gloom, with the Christmas Show and Own Shows being very successful. We are budgeting for a $mall Surplus before depreciation. but that will be challenging. C8$h resources have fallen by £20k and net current assets by £23k to £104k and £68k respectively. The impact of Covid. the economic environment and our investment in the future have obviously placed a substantial slrain on our finances. but we are in a much stronger Pogltion th8n many theatres of a similar size. RESERVES PoLy The aim of the Theatre is to generate a small surplus before Long Leasehold Depreei8tion. The Theatre's Reserve Policy is to maintain 8 minimum of £20.000 fr88 cash to moet unforeseen circumstances such a$ emergency repairs or an unexp8thed shutdown. PLANS FOR THE FLrruRE Next year, with plans to be announced at the 2023 AGM. marks the start of our 30th Anniversary as an operalional Theatre. This is a significant achievement which owes much to the dedicated people who made it possible and those who have given their service since, as well as to the $upport of our patrons. We hope the year will afford us, as well as celebratory events, $pecifi¢ opportunities for fundraising. We also hope to fijrther develop our 'ne sponsorship offering, with plans to invite sub-sponsorships. in due course. for other parts of our offering - an exarnple might be for specific cinema screenings. We will continue to promote and develop our non- theatrical hires to make good use of our other spaces and will play a full part in the future plans for the Brentwood BID. DIRECTORS The directors who served during the year are as follovts: _ Michael Hawkins Stephen Abbott Michael Bond Gary Catlin Anne Elliss Penelope Hollington Peter Mayo Robert Southgate Patrick Stevens William Wells
BRENTWOOD THEATRE TRUST DIRECTORS. RESPONSIBILMES Company law requires the directors to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the company and of the profit and loss of the Company forthe period. In preparing thos8 Statements the directors are required to- . select suitable accounting policies and then apply ihem ¢onsistently: make judgements and estimates that are reasonable and prudent; follow applicable accounting standards, subject to any material departures disclosed and oxplained in the financial statements". prepare the financial ststements on the going concem basis unless it is inappropriate to presume that the company will continue in business. The directors are responsible for the keeping of proper accounting records which disclose with re¥$on8ble accuracy at any time the financial position of the company and to enable them to ensure that the financial aterneftts comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for tsking reasonable steps for the preventlon of fraud and other irregularities. bl RISK MANAGEMENT The directors have a risk management strategy compfised of an annual review of the risks of the Trust and procedures to mitigale ihose risks identified in the plan. The most recenl review identified financial sustainability, given the economic backdrop and cost of living pressuras, and health & safaty as being the major risks and the Theatre Board continues to review its financial 8ugtainability at each meeting, particularty against the investment madg in tho bar, ¢8fe and foyer upgrade. Heahh & Safety policies and procedures. including appropriate building and room access, in light of the change$ made. are constantly reviewed. The above report h88 baen prepared in accordance with the special provisions of Part Is of the Comp8nies Act 2006 relating to small companies. Approved by the Board on P November 2023
BRENTWOOD THEATRE TRUST FOR THE YEAR TO 31 JULY 2023 2022 INCOME Box Office Less Payments to Players Hirè of Theatr 139.953 120.561 2494 60.108 68.125 101,130 3W 3.296 11.201 1.082 85.002 5205 5,129 13.749 3,088 Designated Funds Income Donations and Grants Fundraising Gift Aid 117.009 112,273 BAR AccouNr B8r Takings Less.. Bar Purcha Bar Wages 50.206 122.4061 129.7711 32.582 174.7381 110,0491 Bar ID8flclil I Surplus 11.9711 7,795 TOTAL INCOME 115.038 120.068 EXPENSES Wages Christmas Show Expense$ Own Show Exp8nge8 Mgintenance R?18s and Water Rates Insurance Bank Charge8 and Credit Card Charges Book-keeping and Payroll Cleaning Printing Po8t8g8 & St8tlonery Miscell8neou8 Telephone Heating and Lighting Advertising Training Designated Funds Direct Expens88 77.052 10.532 58.723 10.622 1,499 8.519 1,913 3,751 3,264 672 5.626 6,905 662 3,523 5.425 10.095 5,279 712 14,884 6.155 505 9.622 1,576 130 TOTAL EXPENSES 135.686 112,960 IDEFicin I SURPLUS FOR THE YEAR BEFORE DEPRECIATION Depreciation of Eouipm8nt Depreciotion of Long Leasehold 120.6481 7,108 7.930 8A55 IDEFicm FOR THE YEAR AFTER DEPRECIATION 136,2471 19,4161 APPROPONs Provision for Major Maintenance Transfer from Designated Funds IDEFICM FOR THE YEAR 12,0001 12.0001
BRENTWOOD THEATRE TRUST COMPANY NUMBEIt 16W134 BALANCE SHEEf AT 31 JULY 21123 FIXED ASSErs Long Leasehold Property Equipment 314.575 56A75 50399 357.905 371,050 CURRENT ASSErs Debtors and Prepayments Bar Stock Cesh at B8nk~ De8ignated Fund8 C88h at Bank- General Fund8 Cash in Hand $.897 2.381 51,940 51.085 10.250 1,753 51,700 71.586 165 135.454 113,040 45,236 CREDtfoRS DUE virrHIN ONE YEAR NET CURRENT ASSErs 87.804 90,906 Provision for Major M*ntenaiir 6,000 TOTAL ASSETS LESS UABILMES 417.709 455.956 CAprrAL AND RESERVES Ac¢umu18ted Fund Retsifted IDeficiil 37.271 1323591 47024 110,5531 412 412.797 37,271 418,685 1)o8ignated Funds 417,709 455.956 EXEMPTION FIIOM AUDIT For the year ended 31 July 2023 the company vrns entitled to axemptlon under Section 477 of tho Companies Act 200& Mombers have Tbot raquired the Company to oblain an audit in accordance whh Soction 478 of the Companies Act 2(. Th9 Dire¢toY6 acknowledge iheir re8ponsibllity for.- ensuring the company keeps accounting record8 whi¢h comply wlth Sedlon 386 of the Companies Art 2CM)6' prepaTing accounts vthich give a two and fair vSew of the ststo of affairs of the compony 88 at the end of the finan¢ial year and ot its profft or loss for th8 financial year, in aecordance with the reouiramonts of Section 394 and 395 ot the Companies Act 2006 and which othemise comply with the requlrements of the Companies Act 2006 relating to account8. so far a¥ applicable to the company. bl The 8ccounts have been prepared in accordance wlth the speci81 prowsions of Part 15 of the Com anie$ Act 2D06 relaling to small comwnies. Michael Hawkins. Chairmèn Stephen AbbotL Hon Treasurer
BRENTWOOD THEATRE TRUST STATEME> OF FINANIJAL AGnvmES FOR THE YEAR TO 31 JULY 2023 General tlesignated Funds Funds 2023 Total 2022 Total INCOMING RESOURCES Donations. Grants and GiftAid Fundraising Bar and Box Office Interest Received 4378 11,201 258,284 4.378 11,201 258,284 13.217 13,749 213,251 305 273,863 274,163 240,522 Resourtes Expended 13042221 16.1881 1310,4101 1249,9381 Net Ioutgoingl Resources 130,3591 15A881 136.2471 19,4161 Movement on Provision for Major Maintenance 12.0001 12.1J)01 12,0001 Balance BIFwd 1 August 2022 37.271 418,685 455,956 467,372 Balance CIFwd 31 July 2023 4,912 412.797 417,709 455,956
BRENTWOOD THEATRE TRUST NOTES TO THE AcCOUTrs FOR THE YEAR TO 31 JULY 2023 ACCOUNTING POUCIES The following accounting poli¢ies have been used consistently in dealing with items which ar8 considered material in relation to the companws financial stsiements. lal Ba$ls of Proparatlon The accounts have been prepared under the historical co$t convention. The Designated Funds comprise donations and contributions received to finance the construction of the building 8nd substantial legacies received. Ibl Donations Donations are rgcognisod as th8y aro received. Icl Flxed Assèts Fixed assets are recorded at eotst and depreciated on a straight line basis over their expected useful live3 a8 follows.. long leas6hold property- 50 years seating, lighting rig and foyer refurbishment- 15 year8 ¢ornputeT equipment- 5 years oth6r equipment- 7 years EXEMPTION FROM AVDIT The company meets the definition of a small company as set out in Section 476 of the Companies Act 2006 and is consequently exempt from the requirements to hava its accounts audited. TANGIBLE FIXED ASSETS Long Laas•hold Pvop•rty COST Equipmgnt Total As at 1 August 2022 Additions 702,715 161,153 2,454 863,868 2,454 As at 31 July 2023 702,715 163.807 866,322 DEPRECIATION As at 1 August 2022 Charge for the y8ar 388,140 104.678 7,930 492,818 15.599 As 8t 31 July 2023 395.9 112,608 508,417 NET BOOK VALUE 37 July 2023 50.999 357,905 31 July 2022 314,575 56.475 371.050 GENERAL FUNDS DESIGNATED FUNDS 83.775 48.564 132,339
BRENTWOOD THEATRE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 JULY 2023 FIXED AssS- THEATRE BUILDING The long leasehold property reflected in these accounts represents the historical cost of the construction of the building which was funded from donations and contributions receivèd at the time. The cost of the building is being depreciated ov8r the period of the lease of the land on which the building 15 constwcted. A new fifty-year lease was entered into on 31 October 2013 and the net book value at that date has been depfeuated over the period of the new le8Se. CAprrAL AND RESERVES The Theatrè's Capitsl and reserves are repr8s6ntod by assets and liabilitigs and are split a$ follows: Total General Funds DesSgnat•d Funds F5xed As$et8 Cash Balances Liabilities less Other Current A888ts 132,339 52,022 1179.4491 225,$66 51.940 135.291 357.905 103.962 144,1581 4,912 412.797 417.709 BOX OFFICE INCOME Box Office income includes £18,95712022' £19.5501 in respect of the Christmas Show ènd £13,696 12022.. £5,095) in respe¢t of Own Showts. CHRISTMAS SHOW 2022 8ox Office Incomè 18957 19,550 Expenses 110.5321 110,6221 SURPLUS ON CHRISTMAS SHOW Expen888 include £1.OC4J12022: £1.5001 in respect of an internal charge lor ihe hire of the theatre, which is included in Hire of theatre in the Income and Expenditure Account. OWN SHOWS 2022 Box Office Income 13.696 5.095 Expenses 1386) 11.4991 SURPLUS ON OWN SHOWS 10-
BRENTWOOD THEATRE TRUST DESIGNATED FUNDS ACCOUNT FOR THE YEAR TO 31 JULY 2023 2022 INCOME RECEIVED Donations Interest 5.000 305 LESS EXPENDtruRE Bank Charges SURPLUS FOR THE YEAR BEFORE DEPRECIATION 240 5.265 Depreci8tion Equipmenl D8preciation Long Leasehold Propety 625 625 16.1281 16,1281 IDEFICITI FOR THE YEAR AFfER DEPRECIATION 15,8881 18631 8alan¢e Brought Fonvard 418,685 419.548 BALANCE AT 31 JULY 2023 412,797 418,6B5 Represented by- Long Leasehold Property Equipment 223.131 2.435 228,634 3,060 Balancè at 88nk Due from General Fund8 51.940 135.291 51.700 135291 187.231 188.991 TOTAL 412,797 418.685
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