THEATRE BRENfwooD THEATRE TRUST (A company limited by Guarantse) REPORT AND FINANCIAL STATEMEKrs FOR THE YEAR TO 31 JULY 2024 Charity Number 285716 Company Nurnr 1669034
BRENTWOOD THEATRE TRUST COMPANY INFORMATION FOR THE YEAR ENDED 31 JULY 2024 PRESIDENT The Lord Petr VICE PRESIDENrs Audrey Longman Jeon McGlnl8v Mary Rodman DIRECTORS Michaol Hawklns (Chair) Stephon Abbott (Hon. Treasur•rl Michael Bond Anne Elllss Penelope Holllngton Peter Mayo Robert Southgat• IDeputy Chalrl Patrick Stevens Illam W•lls COMPANY and MINUTES SECRrrAAY Jos Holllngton REGISTERED OFFICE 15 Shenfiold Road Brentwood Ess8x CM15 8AG COMPANY NUMBER 16690341England & Walosl CHARrrY NUMBER 2718 BANKERS HSBC Bank plc 91 High Street Brentwood Essex CM14 4RU REPORTING ACCOUNTAKr Richard Lambourn•
BRENTWOOD THEATRE TRUST DIREcfoRV REpoKr FOR THE YEAR ENDED 31 JULY 2024 Tho Directors submit their report and the financial ststements of the company for the year end8d 31 July 2024. CHAIRMAfrYS REpoKr l am pleased to report that the theatre has had a good year. resulting in a surplus b8for8 depreciation of £17.869. From a deficit of £20.648 last year. this presents 8 remarkable recovery from the Covid years and from the heavy inflationary thrnats which engulfed the country ov&r the last year or so. owing much to the hard work and dedication of theatr8 manager lan Southgate and his team. It must also be said that we have ben8fited from legacie8. from sponsorship$ by our principal sponsors. Tees Law and Baker Lab8ls. and from a very active fvnd-rai$ing program. headed by our involvement in the ¢onsortium which org8nises the annual Br&ntwood Half Marathon. It is also pleasing to report that the theatre succeeded in winning a grant of £30,000 from the government's UK Shared Prosperity Fund, which is being u$8d for 8 major upgrade of the thaatre's lighting 8yst8m. During the year we celebrated our 30th anniversary - a great a¢hi8vement - owing much to those who had the vision to $t8rt and back the project to build a theatre in Brentsvood as well as 811 those who have mad8 Contributions to its succes8 over the $u¢¢eeding years. We held a gala dinner evening in May. 8nd it was a 5Ultably glamourous and ¢elabratory occasion. The theatre has had an external make-over and we hope you like the fresh look which the outside white paint has given it. We are also hoping for some murals to add to the interest. The year has. of cour86. not been without its challenges. ft is true to say that tradrtional 8udience8 8re still showing $om8 residual sign$ of reluctance to come along to performances in quite the same numbers as in pre-covid years; but new audien$ are being catered for and hirin9s are substantially up on pr8vious years. playing lo satisfactorily full house$. The theatre has branched out in other ways. for example hosting 8 full wedding. which Vnt well. The coffee bar. though a popular feature. has not boen the financial success hop8d for as more and more competition opens up in the high street. We have decided, therefore. not to continue wwth 8 full-time barist8 but to mainlain the Mffee bar. 8tsffed by members of the theatre staff and. hopefully. volunteers. The theatre has also proved popular as a venue for business confer8nces: and we have even hosted a wedding and birthday parties. demonglrating its versatility and attraction not lust confined to theatrical productions. Looking to the future. we have stsrted work on a fresh 5-year-plan project, for whose help in putting it logetherwe are grateful to Sarah Nazum. We hope to publish more detail$ 88rly in the Newyear.
BRENTWOOD THEATRE TRUST Th9•tr0 Managèment l offer p8rticular thanks and congratulations to Theatre Manager. lan Southgate, who has had most successful year. as I have already mentioned. achieving a wel¢ome surplus and virtually single handedly securing ihe £30.000 grant I referred to earlier. He has a solid and dependable team behind him. including Bryony Colton who has recently tsken over the role of Front of House Manager. Production Manager Reece Crisp and ourtwo excellent technicians. Clara Moss and Guy Lee. Our thank$ are also du8 to the Administration & Support team. Liz Southgate and Stsph Ifonmonger. Voknnteern As have often remarked. the Theatre could not Operate without the wonderful support given by so many volunteers. 8nd we are very gratoful to them all. l am pleased to say that a substantial number have takan on these voluntsry roles, and we rntlY held a thank-you party for them to acknowledge how much they are valued. Finances I began by welcoming the positive financial outcome of a surplus before depreciation of £17,869. a significant step up from previous years. We also saw a substsntial increas8 in theatre hirings, demonstrating both our diversification in hirings and greater usage of the Theatre during the day. The pictur8 is alroady encouraging for the year ahe8d, though windfalls for example from legacies cannoi b8 counted on. grateful though we are to those whose love of the theatre prompt8d them to remember u8 in thelr wllls. Communlty Invo¢mont The Theatre has 8 Strong involvement with the local community- Arts Trail, Half Marathon, Get into Arts FestlV81, alongside supporting the many organisations that call us "home" We 8180 have a strong involvement with the Good Company. a project designed to help ta¢kle dementia. Theatre Manager lan Southg8te 18 on the Executive Commtttee of the Brant)Qd Busin888 Partnership. and, in turn heavily involved with Brentwood Connect - Brentwood's BID IBu8ine8S Improvement District) which 18 already bringing much needed investment into making our community 8 more vibrant place in which to do busine$$ and live. Hi8 involvement should 8nsure that the Theatre. as the primary arts hub of th8 Borough. will feature prominently in futuffj plans for the BID. ThtrO Show$ We had a full year of community and commercial hires and professional touring 8how8 Iwell up on last yearl. In fact. the theatre hosted around 380 lup by over 100 from last yearl perform8nces and. when taking into a¢¢ount community hires. th8 total was over 470 (up by 169 from last y8arl - a very buw year by any standards. The Christmas show of 2023 - Let It Snow- went down very wo11 with audi&nc8s Selling over 2000 tickots across its two-week run: and the retum of The Night 8efore Chnstm8s in 2024 is already promising to be a gTrat success. Sponsorshlp This calendar year has seen the launch of tho sponsorship partnership we have with two prominent local firms. Tees Law and Baker Labels. You will see their logos on all theatre promotional material and in the foyer. We very much value their involvement. l am delighted io report that Tees and Bakers Labels have agreed to continue their sp)nsorship in 2025. for which we 8re very grateful.
BRENTWOOD THEATRE TRUST Fund-Raising I have already alluded to our fund-raising programme. which. apart from the haFf marathon. includad 'an wening With John Heffernan. Ihe is currently app8aring in the West end show'The Lahm8n Trilogy'l. as well as themed events Ifor example an Indian afternoon tea and film). And the Fund-Raising Committee al did suth a good job in organising the 30th Anniversary Gala. My thanks go to Penny Hollington. Bill Wells and their committee. Our involvement in the Brentwood Half Marathon owes much to Vice Chairman Bob Southgate and Peter Herrington, for their enthusiastic involvement in the consortium. Th• Th•atr• Board I would like to express my grateful thanks to the rnembors of tha Board who ara all volunteer8 and bring valuable 8nd valued expertise from many field$. 8$ well as great enthusiasm. for the benefit of the Theatr8. They range from the Headmaster of Bffjntwood School to the Executive Partner of Te Law in Brents*0d and encompas8 many olh8r disciplinos. including former city financiers. We are 81s0 grateful for Brentwood Council'$ $upport. symbolised by the presence of two Councillors on our board as ex officio rnembors. Earlier in the year Gary Catlin stepped down after over a decade on th8 board. We thank him for his years of service and wish him w811 for the future. Our President. Lord Pelre. has been a staunch supporter for many years. To hlm. to all the Board m8mber8. 8r)d to all our frndS and supportsrs. l offer h8artf8lt thanks. Finally, we were saddened to learn of the death of two strong supporters of the thoatre. First. last November, Lionel Wernick. a Life Vice President of the theatre. He wa$ a great supporter of the theatre during its early yeaT$. and it is thanks to such support in those early days that the theatre has been able to thrive. He also continued io support the th6atro with wel¢ome donation$. A true friend of the theatre. And only recently it was a great shock to learn of the passing of Janei Sarchet. Janet had been volunteering 81 the theatre for many years and wa$ al80 a constant presance during Brentwood Operati¢ Society show weeks as a society member 8811ing raffle tickets and progromme8: She also ¢oordinated Shanfield Floral Arts Club's visits to the theatre every Christmas. They will be sorely mi$$ed. Mlk• Hawkl Chalrn7•n
BRENTWOOD THEATRE TRUST PRINCIPAL AcnviTY The company operatss a local theatre for the purposes of enuraging and promoting local Arts and Drama and the education of local youth. FINANCIAL REVIEW An excellent year from a financial point of view. wtth a surplus before depreciation of £17,869 compared to a deficil of £20,648 in the previous year. Particularly pleasing is the largè increase in our core income of net box office receipts and hire of theatre which increased from £101 k to £138k Other significant contributions to the improved result are £1 Ok of sponsorship and £11 k in legacies. Bar I café wa$ disappointing again. but even taking that into account, gross incom8 increased from £115k 10 £169k. Inevitably expens88 were also up. from £136k to £152k, with wages, maintenance. hgating and lighting and the PRS part of rni$¢ellaneous being the m8jor contributors. W8 are budgeting for a small surplus before depreciation, which will be challenging as the inflationary pressure on expenses. particularly wages. is higher than w8 ¢an pass on to our hirers. Cash resour have increased by f39k and net curreni a$set$ have increased by £16k from £68k to £84k. Clearly this year has gon8 a long way to restoring our finan¢ial security, but are still 8 long way from the pre covid level of nel current assets of in excess of £150k. RESERVES POUCY The aim of the Theatre is to generate a small $urplu$ before Long Leasehold Depreciation. The Theatre'$ Reserve Policy 1$ to m8int8in a minimum of £20.(W free cash to meet unforeseen Circumstancas ouch as emergency repairs or trn unexpectsd shutdown. PLANS FOR THE FirnJRE We will be implementing the major lighting upgrado referred to earlier by the end of 2024 and are planning to find 'good home$. for our old lights, having already conlacted local schools and theatre groups in an effort to recycle not dispose of the equipment. We wish to further develop our sponsorship offering, with plan$ to secure sub-sponsorships. in due course, for other $pe¢ifi¢ parts of our offering. and have also begun discussions with a local restaurant to agree a "pro & post theatre m611 deal" for our audiences. We are delight to have a contract in place to show National Theatre Live productions from early 2025. Upon agreement to, and publication of, our new 5 year p18n, there will be other significant workstreams to keep us busy and progressiv6. DIRECTORS The directors who served during the year aro 88 follows: . Michael Hawkins Stephen Abbott Michael Bond Gary Catlin Irosigned 9th January 20241 Anne Elliss Penelope Hollington Peter Mayo Robert Southgate Patrick Stevens William Wells
BRENTWOOD THEATRE TRUST DIRECTORS. RESPONSIBILMES Company law requires the directors to prepare financi81 statements for each financial year which give a true and fair view of th8 State of affairs of the company and of the profrt and loss of the company for the period. In preparing thos8 Stat8ment$ the directors are required to: . select suitable accounting policie$ and then apply them consistently". make judgements and estimates that are raasonable and prudent; follow applicable accounting standards. subject to any material departures di8cSosed and explained in the financial statements". prepare the financial statements on the going ¢onLprn basi8 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 reasonable accuracy at any time the financial position of the company and to enable them to ensure th8t the financial statements comply with the Companies Act 2(KJ6. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention of fraud and oiher Irregularities. bl dl RISK MANAGEMENT The directors hav8 a risk management strategy in pla(*. comprised of an annual review of tha ri$k¥ to the Trust 8nd procedures to mitigate those risks Identifi from tha revièw. The most r8cent review idenlified staff succession Igiven the very $m811 number of employees). volunteer number$, financial $ustainability Igiven continuing economic and eo$t of living pressures). and health & safety as being the major risks. The Theatre Board ntInUeS to review its financial 8UStain8bility at each Board meeting, particularly against the investment made in the bar, café and foy8r upgrade. Health & safety policies and proc6dur8$, including 8ppropriat8 building and room access. considering the changes made, are ¢onstantly reviewed. The 8bove report has been prepared in accord8nc6 with the special provisions of P8rt 15 ot the Companies Act 2006 relating to small companies. Approved by the Board on V Novemb8r 2024
BRENTWOOD THEATRE TRUST INCOME AND EXPENDrruRE FOR THE YEAR TO 31 JULY 2024 2024 INCOME Box Office Less Payments to P18ye Hire of Theatre 205,969 139,953 34,931 102.925 33,005 68,125 137.856 11.300 1,058 12.706 10.000 28 101.130 300 3,296 11,201 Designated Funds Income Donations and Gr8nts Fundraising Sponsorship Gift Aid 1.082 173.008 117,IJ09 BAR ACCOUNT Bar Takings Less., 8ar Purchases Bar Wages 81518 131,2161 134.9221 50.206 122,4061 129,7711 Bar IDefi¢itl 13,6201 11.9711 TOTAL INCOME 169,388 115,038 EXPENSES Wages Christmas Show Exp9ns¢$ Own Show Expenses M8inten8nce Rates and Water Rates Insurance Bank Charges and Credit Card Charges Book-keepino and P8yroll Cleaning Printing Postage & Statlonery Misc81Saneou8 Telephone Heating and Lighting Advertising Training Designated Funds Direct EXnge8 74.023 12.331 910 7.650 2.271 4.152 913 71,052 10.532 1.913 3,751 5,425 10.095 I1.8 233 8.081 747 16.076 7,164 5.279 712 14.884 6,155 505 TOTAL EXPENSES 151.519 135,688 SURPLUS / IDEFiun FOR THE YEAR BEFORE DEPRECIATION Depreciation of Equipment Depreciation of Long Leasehold 17.869 120.6481 8.028 7.930 SURPLUS / IDEFicm FOR THE YEAR AFfER DEPRECIATION 2.172 136.2471 APPROPRIATIONS Provision for Major Maintenance Transfer Itol I from Designated Funds IDEFI(yn FOR THE YEAR 12.0001 12.0001
BRENTWOOD THEATRE TRUST BALA SHE AT 31 JULY 21>4 Long Leas8hold Prop Equipment 308,908 50,999 367,905 Debtors and Prepeym Bar Stock Cash at Bank- Designated Funds Cash at Bank- Gentrrnl Fund8 Cash in Hand 11,466 52.180 51.940 51,085 937 113.040 45236 156.407 71709 CIIEDITOPS DUE wrrTrllN ONE YEAR NEf CUAREKf ASSErs 81698 67.804 Pl1110n for Mr U'nknarn TOTAL ASSEfs LESS 417m1 417.709 CAPTfAL AND RESEIIVES Accumulat8d Fund ROtaIn IDefidt) 4912 14M)} 37,271 132.3591 1281 417XJ9 4912 412,797 Do8igngted Funds 417m1 417,709 For the ye8r dad 31 Juty 2024 tho company was antided to exemption under Soctlon 477 of the Companies Art 2rth. Members have not required the coMnY to c4)tain an audit in ac¢ordance with Section 476 of th Cornpanis Act 2006. The DireLtor8 8cknoYAadge thelr rnsptsnbil1ty for.. ensuring the (y)mpany ko8p8 accouffting records which comply wlth S8Ction 386 of the Companle8 Act 2(#)6: preparing a¢Unts whi¢h give ¥ Irue and fair view of the st*0 of affair5 of iho company as at the end of the financial year and ol tts profrt or loss for the financial year. in accordance with the requirements of Section 394 and 395 of the Comp¥nies Act 2006 and which otherwise comply with the requirwnents of the Compani•s P£t 21Th relating to ac¢ounts. so tsi as aFwli¢able to the company. The accounts have been prepared in accordan¢e with the speci•l provisio of Part 15 of the Compani Act 2006 relating to SFn¥ll cornpanies. Mich•el Hawknns. Chairman Stephen Abl Hon TW8Ter
BRENTWOOD THEATRE TRUST STATEMENT OF FINANCIAL AcnvmES FOR THE YEAR TO 31 JULY 2024 Totsl Totsl INCOMING RESOURCES Donations, Grants and GiftAid Fundraising Sponsorship Bar and Box Oflice Interest Received 11.O(M) 12,086 12.766 10,000 371A12 300 4278 11.201 12.766 10,OIXI 371.412 258.284 300 395.264 11.3CwJ 274,163 Resourcey Expended 1398,204) 16.1881 1404J921 1310,4101 Net Incoming I (Outgoing) Resources 12.9401 5,112 2.172 136,2471 Movement on Provision for Major Maintenance 12.0001 12,0001 12,0001 8018nce BIFwd 1 August 2023 4,912 412.797 417,709 455.956 8alan¢e CIFwd 31 July 2024 28 417 881 a9
BRErwoOD THEATRE TRUST NOTES TO THE ACCOUNTS FOR THE YEAR TO 31 JULY 2024 AccouMllNG FOUCIES The following accounting policies have been used consistently in dealing with items which are considered material in relation to the companrfs financial ststements. Basis of Pryration The accounts have been prepared under the historical cost convention. The Designated Funds comprise donations and contributions received to finance th8 constwction of the building and substsntial legacies received. bl Donatlons Donation8 are recognised as they are received. Icl Fixéd Att Fixed assets are recorded at cost and depreciatfjd on a straight line ba$1$ over their expected useful lives as follovts: long leasehold property- 50 years Seating. lighting rig and foyer r8furbishment- 15 years omputer equipment- 5 years other 8quipm8nt- 7 yeats EXEMPTION FROM AUDIT The company meets the definition of a small company 8$ set out in Section 476 of th8 Compani88 Act 2006 and is ConqUentIY exempt from the requirements to have its 8ccounts audited. TANGIBLE FIXED ASSErs Long COST Propwty Equlpm•nt Totsl As at l August 2023 Additions 702.715 163.607 875 866,322 875 As 8t 31 July 2024 702,715 164.482 867.197 DEPRECIATION A5 8t 1 August 2023 Charge for the year 395MJ9 112.608 8,028 508,417 15.697 As at 31 July 2024 403,478 120.636 524.114 NET BOOK VALUE 31 July 2024 299237 343,083 31 July 2023 357,905 GENERAL FUNDS DESIGNATED FUNDS 81.609 42.036 123.645 Additions are shown net of grants received of £5.856
BRENTWOOD THEATRE TRUST NOTES TO ThE Accouiirs FOR THE YEAR TO 31 JULY 2024 FIXED ASSEfs-THEATrE BUILDING The long leasehold property refiected in these accounts represents the historical cost of the construction of the building which was funded from donations and contributions received ai the time. The cost of the building is being depreciated over the period of the lease of the land on which the building is con*ructed. A new fifty-year lease was entered into on 31 Ortober 2013 and the net book value at that dat6 has been depreciated over the period of the new lease. CAprrAL AND RESERVES The Theatre's capitsl and reserves are represented by assets and liabilities and are split as follows: Gra1 Funds Das1•I•d Funds Totsl Fixed Assets Cash Balances Liabilities less Other Currgrrt Assets 123,645 91.076 1214.7491 219,438 52,180 146,291 343,083 143.256 168,4581 1281 417,909 417,881 BOX OFFICE INCOME Box Office Income includes £20,01212¢Y23- £18.9571 in respect ol Christmos Show and £14A6812023 - £13.6961 in respect of Own Shows. CHRISTMAS SHOW 2024 2023 Box orrice Incomo 20.012 18,957 Expen8e8 112a31} 110,5321 SURPLUS ON CHRISTh4AS SHOW Expenses include £1,50012023: £1,IXIOI in respect of an irternal charge for the hire of the theatre, which is included in Hire of theatre in the Income and Expenditure Account. OWN SHOWS 2024 2023 Box Office Inwme 14A68 13.696 Expenses 19101 13861 SURPWS ON OWN SHOWS 10-
BRENTWOOD THEATRE TRUST DESIGNATED FUNDS ACCOUNT FOR THE YEAR TO 31 JULY 2024 2024 2023 INCOME RECEIVED Donations Interest 11.000 LESS EXPENDrruRE Bank Charg88 1601 601 SURPLUS FOR THE YEAR BEFORE DEPRECIATION 11.240 240 Depreciation Equiprnenl Depreci8tion Lon9 Leasehold Propety 625 625 16.1281 16,1281 SURPLUS / IDEFicm FOR THE YEAR AFfER DEPRECIATION 5,112 15,8881 8al8nce Brought Forward 412,797 418,685 &4LANCE AT 31 JULY 2024 417.9 412,797 Repr88ented by: Long Leasehold ProTty Equipment 217.628 I10 223,131 2,435 Balance ai Bank Oue from General Fund8 52.180 146.291 51,940 135,291 198,471 187,231 TOTAL 417, 412.797 11