EXETER PHOENIX LTD. ANNUAL REPORT AND CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024
Exeter Phoenlx Ltd. Year End 31 March 2024 Contents P8ge Company Informatlon Dlrectors, report Independent auditor8. raport 12 Consolld8tsd group ststemgnt of financial activitl8S Balance sheets 17 Notes to the tinanclal $tst6m¢nts 18
Exeter Phoenix Ltd. Year End 31 March 2024 Company Informatlon Charity Name Exeter Phoenix Ltd. Charlty Reglstratlon Number 290011 Company Registration rnrnbgr 01844169 Re8iStered office Bradninch Place Gandy Street, Exeter EX4 3LS Dlrectors B Adams (appointed 19 July 2023) S Barbato (resigr)ed 06 September 2023) S Bebbington R Cobb (appointed19 July 2023) A Dean S Khuri P Macpherson H Noye S Smith (appointed 07 June 2023) L Wright (resigned 29 May 2024) S8¢rotary P Cunningham Sonlor M8n8gement Team P Cunningham J Hawkins A Peel-cusson M Coulsori M Burrows H Lawrence Secretary Digital Manager Visitor Serviees Man8ger Finance Manager Galleries Manager Fundraising Manager Bankers B8nk ol Scotland 17 Dix's Field. Exeter. EXI IUZ Audltors Haines Watts (Western) Limited 3 Southernhay West, Exeter, EXI IJG Sollcltor8 Stephens & Scown Southernhay West, Exeter, EXI IRS
Exeter Phoenix Ltd. Year End 31 March 2024 Dlrectors Report Company Number 01844169 Stsucture. Gov8rn8nce and M8na8ement Govemlng Structure The organisation is a charitable company limited by guarantee. incorporated on 29 August 1984 and registered as a charity on the 6 September1984. Thecompanywas established under a Memorandum ol Association which established the objects and powers of the charitable company and is governed under its Articles of Association. In the event of the company being wound up each member is required to contribute an amount not exceeding £10. Dlre¢tor8 holdln8 office In the year For directors holding office in the year see Company Information on page l. R¢¢Nltmgnt and Appointment ot Board Member8 The directors of the company are also Charity trustees for the purposes of charity law and under the company's Articles are known as the Board of Directors. Each director serves a three year period and can be co-opted for a further three years. The Articles stipulate that the Board should contain minimum ol six directors, one of which will be nominated by Exeter City Council. During this year the nominee was Mr O Pearson. Board members are reqLJested to provide a list of their skills and in the event of particular skills being lost due to retirements individuals are approached to offei themselves for election to the 8oard either through advertisement or by recommendation. Dlreetors. Inductlon and Tralnlng New directors are informally interviewed by a sub-committee of the Board fully familiarised with the oper8tion and activities ol the company and supplied with a pack of documents which includes.. The Board Profile - which sets out the obligations of Board members,. Audited Accounts - for the latest year plus current management accounts,. and Minutes of recent B08rd meetings. Or8anisational Structure The company has a Board ol Management with a maximum of eight members which meets six times 8 year and is responsible for strategic direction, policy and financial robustness of the charity. Members have a variety of professional backgrounds relevant to the work of the charity. Also in attendance 8t the meetings are the Company Secretary, who is also the executive director but has no voting rights, a staff representative and the company's accountant. The day-to-day responsibility for the provision of events. activities and services is delegated to the executive director who. with the help ol the senior management team- who form an Executive - manages and delivers the output. The Board has two sub-committees. one for finance matters and one for fundraisingldevelopment. Sub8idlary undertakin88 Exeter Arts Trading Services Limited (EATS) (comp8ny number 06280657) is a wholly owned subsidi?ry. EATS operates the café and bar and all commercial trading operations carried on at the premises. It donates all of its profits to the company.
Exeter Phoenlx Ltd. Year End 31 March 2024 Relatsd Partles The company has a nominated representative from Exeter City Council on its Board. The company le8ses its building from the City Council. The Council is also the largest single grant provider to the organisation and a service level agreement exists between the company and them. Pay policy for 88nlor staff Exeter Phoenix is committed to ensuring that we pay our staff fairly and in a way which ensures we att13Ct 8nd retain the right skills to have the greatest impact in delivering our charitable objectives. There is a FinancelSt8ffing Sub-committee of the Board- composed of the Chair and one other Board member - which recommends the pay lor all stall and also considers annual cost of living increases. The Director and Finance ME*nager attend these meetings but no members of the Executive are members of the committee. All decisions have to be ratified by the full Board. Rlsk Management The directors ale continuing to carry out a detailed assessment ol the risks laced by the company, both financi81 and non-financial. As part ol this process, the directors are implementing a risk mana8ement strategy comprising of.. An annual review of the risks which the charity may face.. The estBblishment of systems and procedures to mitigate those risks.. and The implementation of procedures designed to minimise any potential impact on the charity should any of those risks materialise. Obj•ctlve and A¢tivitle$ The objects of the company are.. To promote, maintain, improve, encourage and provide public education in the arts of dramA music, singing, dance. painting, sculpture, literature. cinematography and handicrafts. The provision of facilities in the interest ol social welfare for the recreation ar)d leisure time occupation of the public with particular regard to Exeter and its surrounding districts with the object ol improving the conditions of life of the persons for whom the f8¢ilities are primarily intended. The company carries out the objects through the promotion of arts events and exhibitions. the provision ot film and video resource4 the provision ol community arts services. and arts development work. Vlslon and Misslon The vision of the organisation is.. Creative spaces that irispire, support and enable connections between artists and audiences. We will deliver the vision by.. Maintaining a regional creative hub where artists, audiences and cultural partners meet. create and thrive. Commissioning, hosting and developing exciting new work from the best emerging artists. Embracing diversity, accessibility and artistic rigour in everything we do.
Exetgr Phoenix Ltd. Year End 31 March 2024 Suppoiting and nurturing the creative community and providing opportunities and platforms to develop its skills and talents. Constantly innovating and seeking ways to develop the quality and scope of a sustainable balance ot cultural activity. Achlevaments and Perf0mnCe Delivering over 2,000 events and welcoming around 300,000 people through our doors Our busiest ever year for cinema audiences. with 15,245 viewing the best of local. national and international film. Staging 145 live music events. spanning a wide range of genres to deliver the most diverse programme in the region. Presenting 95 live theatre and dance performances, championing work at the forefront of contemporary practice. £13,900 awarded to Ioc81 8rtists to support the development of new work through our commissions, exhibition fees and Scratch Night opportunities. Providing Access Support for artists to navigate funding applications. we have supported local creatives to secure £IOOk of funding to realise their projects and idees. Our volunteer stewards have given 2,700 hours of their time to support performances, screenings events and festlV81s. Over 150 organisations, artists and local businesses supported through providing a platform and space for exhibitions, meetings and activities including 55 fellow charities and community groups. D8llverlng ag8ln$t our strat We aro Incluslve and relevant Over the year we have Continued to provide high quality creative experiences that are accessible to everyone. We are proud to platform a diverse range of voices and perspectives across our programme. to embrace a range of initiatives to ensure that these opportunities can be enjoyed by all. and to offer a welcoming and inclusive space for the wider community. Highlights over the year included: A celebration of the juxtaposition of Exeter Pride and a UK-hosted Eurovisiory alongside our local Ukraini8n community, at our Rainbow Fayre, which delivered a full day of welcoming, inclusive and celebratory activities, performances and screenings. Hosting important community events in partnership with local groups, including providing a venue for Eid al-Fitr celebrations with Hikmat CIC, hosting Exeters popular Like Minds Conference, delivering Lunar New Year with the Exeter Hong Kongers. being a key venue for the British Science Festival, and supporting the local Kurdish community to celebrate Newroz. Delivering a year-long supported internship opportunity in partnership with InFocus College. providing fresh new insight for our organisation and personal and professional development lor the young person. Delivering 50 hours of free animation, tilmmaking and video game content workshops lor young people thanks to the Million Hours Fund.
Exeter Phoenix Ltd. Year End 31 March 2024 Pl8tlorming diverse and underrepresented views of the world, including through James Paddock's powerful -Lile Could be Done So Much Better" exhibition, which centred and explored experiences of voice hearing and led to a whole host of opportunities for our Freefall+ youth group including having members lead their owr) gallery tour. publishing written responses to the work, and creating their own artworks inspired by the exhibition. Bringing world class theatre for all ages to outdoor public spaces in Exeter, including our popular annual Shakespeare in the Park performances, and our family show Out of the Deep Blue which saw a spectacular13-foot-tall puppet, operated by 5 world-class puppeteers and contemporary dancers, striding through the city centre. The creatlvSty we ombrace Is ambltiou4 varied and entert8inlng We have deliveied hundreds of performances, workshops and exhibitions 8cross the ye8r. representing a range ol artlorms and featuring artists from all over the world alongside national, regional and local t81ent. Audiences h8ve been able to enjoy a wide range of high-quality cultural experiences, established artists have benefited from a platform for their work and employment as performers and Course leaders, and emerging artists have received support, guidance and opportunities for emerging artists seeking to develop their skills. profile, network and practice. Top quality culture lor local audiences.. Over the year we welcomed over 27,000 people to our free contemporary art galleries, which platformed leading ond emerging artists frorn across the UK including a collaborative exhibition by Dan Howard Birt and sharing work from previoijs commission winner Natasha Ma¢Voy. Our galleries attracted feedback such as ~I'm so glad there is art like this out there," One of the best exhibitions I've been tolN and "We are so very lucky to have this in Exeter" Our music programme has brought artists from all over the world to the far South WesL representing a broad range of genres including Nina Nastasia, Kosheen, Matthew Halsall, Stornoway. BC Camplight, Walter TrouL Mystery Jets. Martyn Jasepl Dreadzone, The Bug Club, Eric Bibb, Grfjce Petrie and Nouvelle Vague. This yearfs live performance programme has been packed with award winnin8 comedians and theatre companies including Emergency Chorus, Paul Foot. HAII Moon Theatre, Josie Long, James Rowland Rob Auton, The Paper Cinema and Sophie Duker. Nurturing local talent By allocoting additional core staff hours to support artist development, we have grown our Creative Hub network to reach an online audience of 1,700 and releasing regula¥ publications featuring sector news, sharing opportunities with organisations across the region and showcasing South West artists and makers. New and emerging talent has been supported to gain performance experience and grow their prolile, including our partnership with BBC Introducing which saw people queuing round the block to enjoy the best new music from Tory, Pattem Pusher, Saff Juno and Lian8 Lawrence at February's South West Showcase. We have stocked the work of 120 South West cieatives in our city centre shop, Maker Mart, offering a valuable income stream for artists and makers as well as a platform to share their work and raise their profile.
Exeter Phoenix Ltd. Year End 31 March 2024 We are beyond the lIldIng Exeter Phoenix have continued to pursue opportunities and partnerships beyond our own four walls, introducirig audiences to different venues and developing a wide range of new partnerships. Over the course of this year we delivered multiple events and activities at different premises in and around the city. including bringing folk music to local church and screening seminal film, The Red Shoes, within the majestic surroundings of Exeter Cathedral. The latter was delivered in partnership with the BFI as part of the national Powell and Pressburger season and also featured a fresh and youthful interpretation of the film through an energetic live dance performance from Chhaya Youth. We have also developed new relationships with a range of artists and community groups through our new heritage project, which focusses on digitising and sharing 8n archive of family films dating from the 1930s-1960s. Groups such as Mothers who Make and communities from Villages in Action and Diverse Devon Together have been able to experience these unique historic films and create their own responses with the guidance and support of specially commissioned artists. Over the year we have also continued to support and work in close partnership with Positive Light Projects. supporting the provision ol Bccessible and engaging creative opportunities for people from all backgrounds and providing space for loeal artists to develop their work and profile. Environmental Sustainabillty This was 8nother busy year for our Green Phoenix Project which saw our work to build a more sustainable future for arts and culture enjoy national recognition when our independent cinema, Studio 74, won the Green Screen Sustainability Awards at the Big Screen Awards in London. in recognition ol our longstanding commitment to reducing our environment81 impact. Over the course of the year our 94 solar panels generated 22,273 kwh of sustainable green electricity, and we have continued to work on our sustainability strategy. This year saw the completion of the first wave of our secondary glazing project to reduce our use ol fossil fLJels by improving the thermal efficiency of ou¥ historic building, the installation of more specialist LED lights in our auditoriu and the commencement of works lor our rainwater harvesting and living wall project. We have also taken our sustainability focus beyond the building, engoging with a range of partners to expand our learning and share our experiences. This has included engaging with Sustainability Arts Gathering Exeter, a peer group championing and supporting more sustainable practices in the sector, as well as joining as founding members of the new UK Green Film Network, a small advisoiy group of cinemas and programmers who have and are making conscious changes. The network creates space lor learning and questioning. Flnancial Sustainability The compony is partly dependant on the continuing support of its funding partners IArts Council England and Exete¥ City Council) to enable it to continue operating and to meet its liabilities as they fall due. Annual funding from the Arts Council is in place at least until March 2026. As a result the City Council are committed to providing support over the same period. The company is also reliant on an overdraft that is renewed on an annual basis 8nd we have no reason to believe that the bank would not renew this et 8 level that meets the needs of the charity.
Exeter Phoenix Ltd. Year End 31 March 2024 The accounts do not include any adjustments which would result il continued support is not available. Such adjustments would reduce the value of the assets of Exeter Phoenix Ltd. to their realisable value and to provide tor liabilities not presently included in the finan¢i81 statements. Flnanelal Revlew The Group'ts operating deficit for the year, amounts to £11,489 (2023 - £39,149). After allowing for depreciation charge of £122,615 (2023 - £120,209) the r)et outgoing resources for the year amounted to £134104 (2023 - £159,358) and are dealt with as shown in the Consolidated Statement of Financial Activities on page 20. Exeter Phoenix Ltd meets the day to dBy running costs from generated income and grants from its funding partners. The gener81 support fund, which is an unrestricted fund, has a deficit of £227,126 (2023 - £160,380) at 31 March 2024. The directors are trying to obtain additional income streams and reviewing all of the company's expenditure with a view to recovering the position in due course. Reserves Pollcy The directors have forecast the level of unrestricted reserves needed to sustain the charity's operations over a period when its anticipated income generated from activities may be temporarily curtailed. The directors consider the most appropriate level of freè reserves which should be retained is in the region 01 £85,000 which would represent approximately 3 months of fixed overheads. At the year end, the charity had not built up reserves to this level, but the directors continue to regularly review the budgeting and lin8nci81 performance of the organisation with a view to achieving this target in due courso. Prin¢lpal funding sour¢•s Grants received our two mein funders are Exeter City Council and Arts Council England. With the former we have a three year funding agreement to provide a targeted programme ol activity,. with the latter wo have an agreed programme plan. Income from trading 8Ctwities - income from our room rentals, tenants and ticket agency sales helps to underwrite the cost of our charitable work. Events and exhibitions- the ticket income and sales commission both underpin our budgets and helps support artists. Film and Video Resource- income earned from hires and rentals enables us to support artists Courses. classes and related activities income from these helps us to offer concessionary rates. Statement on fundralslng actlvltles In carrying out its fundraising activities the charity has not behaved unreasonably towards vulneiable people or 8ny other members of the public. Dlsabled per80ns The charity operates an Equal Opportunities Policy for its stall. users and audiences, which includes the following provisions governing the employment ol disabled persons:
Exeter Phoenix Ltd. Year End 31 March 2024 Adherence to the Disability Discrimination Act1995 Adoption ot a Code of Good Practice on the employment ol disabled persons, including recruitment, selectiory training and promotion. This includes. Reasonable adjustments will be taken where a disabled person is put in 8 detrimental positior) and such reasonable adjustments remov8 the detriment., Plan for Futuro Periods The charity intends to continue the activities outlined above ir) the forthcoming years Subject to satisfactory funding arrangements. Publi¢ bengflt The directors confirm that they have complied with the duty in Section 4 of the Charities Act 2011 to have due regard to the Charity Commission's goneral guidance on public benefit. We have referred to the Charity Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future activities. In particular, the directo¥s consider how planned activities will contribute to the aims and objectives they have set. Flnancl81 In8truments Prlce rT8k eredlt rl$l and eash flow rlsk The companys principle Financial instruments comprise bank balances, trade creditors and trade debtors. The main purpose ol these instruments is to raise funds for the company's operations and to finance these operations, Due to the nature ol the financial instruments used by the company there is no exposure to price risk. Trade debtors are managed in respect of Credit and cash flow risk through policies regarding the credit offered to customers and the regular monitoring of amounts outstanding. Trade creditors liquidity risk i¥ managed by ensuring suff icient funds are available to meet amounts due. Responsibilities of the Board of Directors The directors (who are also trustees of Exeter Phoenix Ltd for the purposes of company law) are responsible for preparing the Annual Report and the financial statements in accordance with applicable law end United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requires the trustees to prepare financial statements for each financial year which give a true and fair vi8w of the state of affairs of the charitable company and of the incoming resources and application ol resources, including the income and expenditure, of the charitable company for that period. In preparing those financial statements, the trustees are required to.. select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charity SORP,. make judgements and estimates that are reasonable and prudent,. and prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in busi¥)ess.
Exeter Phoenix Ltd. Year End 31 March 2024 The directors are responsible for keeping proper accounting records which disclose with reasonoble accuracy at any time the financial position ol the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit information of which the charitable companys auditors are unaware,. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to estsblish that the auditors are aware of that information. Audltors A resolution to re-appoint Haines Watts (Western) Limited as the compantys auditors will be put to the forthcoming Annual General Meeting. On behalf of Board H Noye Date.....
Exeter Phoenix Ltd. Year End 31 March 2024 Indgpgndont Auditors. Report to the Members of Exetar Phoenlx Ltd We have audited the financial statements of Exeter Phoenix Ltd (the 'parent charitable company, and its subsidiaries (the 'group'), for the year ended 31 March 2024 which comprise the Consolidated Group Statement of Financial Activities, the Group and the parent charitable company Balance Sheet and the related notes. The financial reporting framework that has been applied in the preparation is applicable law and United Kingdom Generally Accounting Standards including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland. (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the group's and parent charitable company's affairs as at 31 March 2024 and of the group's incomin8 resources and application of resources, including Its income and expenditure, for the year then ended and ol its profit for the year then ended.. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Companies Act 2006. Ba$1$ for oplnlon We conducted our audit in accordance with International Standards on Auditing IUK) {ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditors. responsibilities lor the audit of the financial statements section of our report. We 8re independent of the group and parent charitable company in a¢¢ordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standaid. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sullicient and appropriate to provide 8 basis lor our opinion. Con¢lu$lon$ rolatlng to going Concern In auditing the financial statements, we have concluded that the directors, use of the going concern basis of accounting in the preparation of the financial statements is appropriato. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group or parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the fin8ncial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with iespe¢t to 80ing concern are described in the relevant sections ol this report. 10
Exeter Phoenlx Ltd. Year End 31 March 2024 Other information The other information comprises the information included in the director's annual report, other than the financial statements and our auditors report thereon. The directors are reyponsible for the other information. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our iesponsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identily such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. It, based on the work we have performed, we conclude that there is a material misstatement of this other inlorrnation, we are required to report that fact. We have nothing to report in this regard. Oplnlon on othar matt8r8 pr88cribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit- the information given in the report of the directors for the financl81 year for which the financial statements are prepared is consistent with the financial statements,. 8nd the report of the directors has been prep8red in accordance with applicable legal requirements. Matter8 on whldi we are rerylred to report by exception In the light of the knowledge and understanding ol the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the report of the directors. We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept by the parent charitable company, or returns adequate lor our audit have not been received from branches not visited by us,. or the parent charitable company's financial statements are Tlot in agreement with the accounting records and returns.. or certain disclosures of directors, remuneration specified by law are not made., or we have not received all the information and explanations we require for our aiJdit-, or the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies. exemption from the requirement to prepare 8 Strategic Report or in preparing the Report of the Directors. 11
Exeter Phoenlx Ltd. Year End 31 March 2024 Responsibilities of directors As explained more lully in the statement of directors, responsibilities the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. end for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the linancial statements, the directors are responsible for assessing the group and parent charitable company's ability to continue 8s a going concerry disclosing, as applicable, matters related to goin8 concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent charitable company or to cease operation4 or have no realistic alternative but to do so. Auditors, responsibilit185 for the audit of the flnanclal statement8 Our objectives are to obt8in reasonable assurance about whether the financial statements as a whole are free from material misststement, whether due to fraud or error. and to issue an wditorfs report that includes our opinion. Reasonable assurance is a high level ol assurance, but is rK>t a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when it exist& Misstatements can arise from fraud or errorand are considered material il, individually oi in the aggregate, they could reasonably be expected to influence the e¢onomic decisions of users tsken on the basis ol these financial statements. Irregularities, including fraud, are instances of non-cornpliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including Iraud. The exter)t to which our procedures are capable of detecting irregularities. including fraud is detailed below.. In identifying and assessing risks ol material misstatement in respect of irregularities, including fraud and non-compliance with laws and regul8tions, our procedures included the following.. We obt8ined an understanding of the legal and regulatory frameworks applicable to the group and parent charitable company and the sector in which it operates. We dete¥mined that the following laws and regulations were most significant.. The Companies Act 2006, UK GAAP. UK corporate tax law. Charity Commission regulations GDPR Occupational Health and Safety regulations and Food Safety Standards. We obtained an understanding of how the group and parent charitable company are complying with those legal and regulatory frameworks and made enquiries to the management of known or suspected instances of fraud and non-compliance with laws and regulations. We corroborated our enquiries through our review of board minutes. other relevant meeting minutes and review of correspondence with regulatory bodies. We assessed the susceptibility of the group and parent charitable company's financial statements to material misstatement, including how fraud might occur. Audit procedures performed by the audit team included.. -Identifying and assessing the controls management hBS in place to prevent and detect traud,. Understanding how those charged with governance considered and addressed the potential for override of controls or other inappropriate influence over the financial reporting process,. 12
Exeter Phoenix Ltd. Year End 31 March 2024 Challenging assumptions and judgments made by management in its signilic8nt accountin8 estimates and judgments. in particular depreciatioN accruals and prepayments,. Identifying and testing journal entries. in particulgr journal entries posted with unusual account combir)ations,' and Assessing the extent of compliance with the relevant laws and regulations. There are inherent limitations in the audit procedures described above and the further removed non- compliance with laws and regulations are from the events and transactions reflected in the tinancial statements. the less likely we would become aware ol it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve delberate concealment by, tor example. forgery or intentional misrepresentation& or through collusions. A further description of our responsibilities for the audit of the financi81 statements is located on the Financial Reporting Council's website at www.Irc.org.uklauditorsresponsibilities. This description forms part ol our Report of the Auditors. U8e of our report This report is made solely to the charitable companys members, as a body, in 8ccord&nce with Chapter 3 of Part16 01 the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are required to state to them in a report of the auditors and lor no other purpose. To the fullest extent permitted by18w, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company s membels as a body, lor our audit worl for this reporL or for the opinions we have formed. Jade Quaintance BA FCA Senlor Ststutory Audltor for and on behalf of.. Haines Watts (Western) Limited. Statutory Auditor Exeter EXI IJG Date.. 5 DÈcÈmbÈr 2024
Exeter Phognix Ltd. Year End 31 March 2024 Consolidated Ststsment of Financial Activities (Includlng In¢ome and Expendlture A¢¢ount) 2024 Tot81 Funds 2023 Tot81 Fijnds Note8 Unrestricted Funds R6strlctad Funds Income.. Donations and legocies Income Irom ch8ritable acbwtps.. Grants receivable Events Bnd exhibitions Film 8nd vid80 r8sour¢o Courses, clas88s and related incomg 15,718 15,718 12.217 193,084 459,503 23B66 74,197 144,795 337.879 459,503 38,416 74,197 335,150 298.347 43.824 69,817 15.050 Incdme from other tr8dinglltI&. Commercial trading operations Oth8r income 1,418.972 1.416,972 1,267,911 105,923 105,923 84,522 Total income 2,288,763 159,845 2,448,608 IIIL788 Expondituro.. Costs ol Eenerating funds Costof raising fvnds.. Commercial trading operations Expenditure on charitableactivities Events and exhibitions Film and video resource Coursbs, classè$ and r818ted income Governance costs 11,340,975) 11.340,9751 II210,8761 1850,1371 197,875) 152,6201 16,8871 12,348,494) 199,7591 {105,3331 129,1281 1949,8961 1203208) 18l7461 16,8871 IZ582,7121 1681,2261 (282,4951 184,3201 112,2291 11271,1481 Total 8xpandltur6 1234,2181 Net exp9nditure lorthe ye8r Total funds brought forward Tr8nslers ol funds 159,7311 1160,3801 17,0151 1227,1261 174,3731 1134,104} 1159858) 570,219 571,238 410,858 7,015 Totsl lund$ carried lorward 503.880 276.754 410,858 The statement ol financial activities includes all Bains and IossE5 recognised in th8 y88r. All incoming resources and resources oxpended derivg from contlnuing activities. 14
Exeter Phoenix Ltd. Year End 31 March 2024 Company Number 01844169 Consolidated Balance Sheat Note GTOUP 2024 Group 2023 Charity 2024 CharSty 2023 FIXED ASSETS Intagible fixed 88setS Tangible asset8 Investments 15 15 16,17 584.220 25,500 640,706 25,500 447,761 26,500 537,409 26,51X> Total fixed assets 609,720 666,206 474261 563,909 CURRENT ASSETS Stwk Debtors Cash at hand and In bank 20.440 79,618 87.804 24,827 66909 120,547 18 64,417 S658 100.972 Total eurrènt $et$ 187,862 212,283 126,288 157,930 CURRENT LIABILITIES Creditors.. amounts falling due within oneyear Net current IlabllStS•s 19 I)9,161) 132l2991 288A21 14459631 1233,6801 432526 1365,7831 1239.4951 13419891 1185,0391 Total assèts lèss curr8nt liabilit188 234,766 378070 Cr8ditors'. amounts falling due after more th on8 ye8r Net 88Set8 20 121,6671 410.858 111fi67) 221099 121,6671 357,203 276.754 R6presented by. Unrestricted ldS Restricted funds 21, 22 21, 22 1227,1261 503,880 1160.3801 57l238 410,858 1280,7781 503177 12140321 571,235 Total Chsrlty funds 276,754 221099 357,203 The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. The financial statements on pages I to 31 were approved and authorised for issue by the directors on Z7.....1..L.. Z*.... ned on their behalf by: HNO Director 15
Exeter Phoenix Lld, Year End 31 Mareh 2024 Notes to the financial statements 1. Accounting Policies Ststutory information Exeter Phoenix Ltd is a private company. limited by guarantee, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page. The presentation currency of the financial statements is the Pound Sterling (£). Going concern The company is partly dependant on the continuing support of its funding partners (Arts Council England and Exeter City Council) to enable it to continue operating and to meet its liabilities as they fall due. Annual funding from the Arts Council is in place at least until March 2026. As a result the City Council are committed to providing support over the same period. In response to the Covid-19 pandemic the company successfully met its financial commitments by raising new income from a mix of grants 8nd other government funding schemes and was able to exit the pandemic in a relatively strong financial position. Like many other organisations and businesses the company has had to weather the challenge posed by both wage and other inflation and the cost of living crisis but is confident that the measures that it has put in place to eounteraet this will be sufficient going forward. Post year-end the company has been able to continue trading successfully and to build on its success, with turnover levels 15% up on the year before and 30% above p¥e-pandemic levels. The company is also reliant on an overdraft that is renewed on an annual basis and we have no reason to believe that the bank would not renew this at a level that meets the needs of the charity. The accounts do not include any adjustments which would result if continued support is not available. Such adjustments would reduce the value of the assets of Exeter Phoenix Ltd. to their realisable value and to provide for liabilities not presently included in the financial statements. A¢¢ountlng conv6ntlon The financial statements have been prepared under the historical cost convention. with the exception of investments which are included at market value. 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 the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic ol Ireland (FRS 1021. the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. 16
Exeter Phoenix Ltd. Year End 31 March 2024 Group Flnancl81 Statements These financial statements consolidate the results ot the charity and its wholly owned subsidiary Exeter Arts Trading Services Limited IEATS) on 8 line-by-line basis. A separate Statement of Financial Activities and Income and Expenditure Account are not presented for the ¢h8rity itself following the exemption afforded by section 408 of the Companies Act 2006. Fund Accountin8 General support funds are unrestricted funds which a¥e available foi use at the discretion of the board of directors in the furtherance of the general objectives of the charity which have not been designated lor other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for the particular purposes. In¢omlng Re¥our¢g$ All incoming resources are included in the Statement of Financial Activities when the charity is legally entitled to the incorne and the amount can be qualified with reasonable accuracy. No amounts are included in the financial statements for services donated by volunteers. Income from trading activities includes income earned from fundraising events and trading activities to raise funds for the charity. Income is received in exchange for supplying goods and services in order to raise funds and is recognised when entitlernent has occurred. Grants Income from donations and grants are recognised at fair value when the charity has entitlement after any performance conditions have been met it is probable thot the income will be received ar)d the amount can be measured reliably. If entitlement is not meL then these amounts are deferred. Government grants are recognised on a cash basis. Re80urc88 Expended AIS expenditure is accounted for on an accruals basis. Liabilities are recognised as resources expended as soon as there is a legal or constructive obligation committing the charity to the expenditure. Overhead and other support costs not directly attribLJtable to particular charitable activities are apportioned over the relevant activities pro rata to the value of the directly attributable costs ol each category. Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that Can b& allocated directly to such activities and those costs of an indirect nature necessary to support them. Governance costs include those costs associated with meeting the constitutional and Statutory requirements of the charity and include the audit lees end costs linked to the strategic management of the charity. Investments Investments in subsidiaries are held at cost. Investments in artwork is held at valuation. 17
Exetgr Phoenix Ltd. Year End 31 March 2024 Flx6d A88et8 Fixed assets are included at cost less depreciation. Depreciation is provided on all tangible fixed assets at rates calcu18ted to write off the cost less estimated residual value, of each asset evenly over its expected useful life, as follows.. Computer equipment 4 years Fixtures, fittings and equipment 3 to 10 years Motor vehicle 4years Gallery café equipment 2 years Redevelopment costs remaining period of the lease Amortisation of Intangible assets is straight line over the usglul life of the asset, which is 4 years. Stock Stock is included at the lowe¥ of cost or net realisable value. Leasln8 and hlre purch88e commitment8 Rentals paid under operating leases are charged to income on 8 Straight-line basis over the lease term. Assets held under hire purchase contract are capitalised in the balance sheet and are depreciated over their useful lives. The capital element of future obligations under the hire purchase contracts are included as liabilities in the balance sheet. The interest elements of the rental obligations are charged in the Consolidated Statement of Financial Activities over the periods ol the hire purchase contracts. Financi81 Instwm&nts Financial instruments are c189sified and accounted for. according to the substance of the contractual arrangement, as financial asset5, financial liabilities and equity instruments. An equity instrument is ar)y contrect that evidences a residual interest in the assets of the company after deducting all of its Incomg and Expenditure Account The Consolidated Group Statement of Financial Activities on page17 is considered to be equivalent to an Income and Expenditure Account and comply with the reporting requirements and consequently no separate income and expenditure statement has been prepared. 2. Income Income represents amounts derived from the provision of goods and services which fall within the companys ordinary activities. The income and net resources are attributable to continuing activities. 3. Legal status of the Charity The charity is a private company limited by guarantee and h8s no share capital. The liability of each member in the event ol winding up is £10. 18
Exeter Phoenix Ltd. Year End 31 March 2024 4. Financial Activitles of the Charlty 2024 2023 Gross Incoming Resources Total Expenditure on charitaNe activities Governance costs 1,107,633 11,234,850) (6,887) 1134,104) 843,875 (1,048,041) 112,229) 216,395 Net incomingl(outgoingl resources Total Funds at bllwd Tot81 Funds at cllwd {134,104> 357,203 1216,395> 573,598 223,099 357,203 Represented by.. Unre8tricted Funds Restricted Funds 1280,7781 503,877 (214,032) 571,235 223,099 357,203 Total net assets 223,099 357,203 5. Incoming re8ouree$ gonerated furKIs The wholly owned trading subsidiary Exeter Arts Tr8ding Services Limited (EATS). which is incorporated in England and Wales. donates all of its profits to the charity. EATS operates the café and bar, and all commercial trading operations c8rried on at the premises of the charity. The charity owns the entire share capital of EATS of 1,000 ordinary shales of £1 each. A summary of the trading results of EATS is shown below.. Results of subsidiary 2024 2023 Turnover Cost ol sales and administration costs Interest receivable 1.416,972 (1.416,972) 1,267,911 11,210.876) Net loss 57,035 Th8 assets and118bllltès ol EATS were.. Fixed Assets Current assets Current liabilities 136A60 62,273 1144,077) 54,656 103,297 117,631 1166,272) 54,656 Total nat assèts Aggregate share capital 8nd res&rves 54,656 54,656 19
Exeter Phoenix Ltd. Year End 31 March 2024 6. Other Income 2024 2023 Theatre lettings and conferences Box ollice income Sundry Membership Property rental and maintenaneè rècharge 44.177 33,725 29.686 26,321 358 615 27,542 3,262 25,920 105,923 84,522 7. Co$t¥ of Charltablo A¢thiltles Support Direct Staff Other Dirert 2024 2023 Event and exhibitions 471,203 22,709 73,803 157,584 101,051 321,109 79,448 7,943 949,896 203,208 81,746 681,226 282495 84,320 Film and video sOurce C(xJrses, classes arKI related expenses 567,715 258,635 408,500 1,234,850 1,048,041 8. SLEPPQrt Co$t$ Included in the cost of charitable activities are the following support costs.. 2024 2023 Administration and m8rketlng salaries Training and other Stall c05tS Rent Service charge Prernises mairitenance Marketing costs Piinting, postage and stationery Tel8phone Box office costs General in5uiance Hospitality Subscriptions Sundries Equipment hire and maintenance Prof885ional lee5 Bank charges and interest Hire puichase interest B8d debts Deprecigtion 290.782 3,883 36,543 25.783 Z457 29,609 4.750 1.033 9,301 21.005 284,103 6,734 37,944 27,050 2,980 26,842 4.763 1,002 6,824 16,520 332 3,130 1837 7.376 3,063 2,282 3,234 3,556 10,032 336 1,478 526 792 122.615 (3,752) 120,209 567,715 550.239
Exeter Phoenlx Ltd. Year End 31 March 2024 9. Governance C08ts 2024 2023 Auditors lees Other 6,887 10,612 1,617 6,887 12,229 During the year the auditor Charged audit fees of £6,88712023'. 10.612) and other fees of £Nil (2023: £1,617). 10. Staff Costs 2024 2023 Wages and salariès Soci21 Security costs Pension costs 498.227 27,286 13,964 488,838 26,820 13,467 539,476 529,125 During the year key management porsonnel ieceived remuneration and benefits totalling £165.361 (2023: £164,946). No employee received emoluments exceeding £60,000. The average staff employed by the Group were 75 (2023: 67>. 71. Dlre¢tor8 Remuneratlon The directors of the company did not receive any payments from the company is respect ol their role as a director. During the year ended 31 March 2024 expenses of £Nil (2023.. £Nil) were reimbursed to directors. Related p8rty transactions involving the directors are set out in note 26. 12 Net incomin81(out80ing) resources is stated afterchar8lng 2024 2023 Depreciation ol assets 147,729 139,029 21
Exeter Phoenix Ltd. Year End 31 March 2024 13. T8x8tlon Exeter Phoenix Ltd. is an exempt charity 8nd is eligible lor the exemptions from taxatioN available to charities on their charitable activities. No charge to corporation tax therefore arises. N. Comparatives for the con801idat8d Statement of flnanclal actlvltles 2023 Total Funds Unre8tricted Fund8 Restrict•d Funds Income.. Donations and legacies Incom6 from ch8rit8ble 8¢tiwitl8S.' Gr8nts receiv8ble Ev6nt5 and Exhibition¥ Film and video resource Courses, cl&sses and related Income 12,217 12,217 270,206 290,354 14,350 45.174 64,944 7,993 29,474 24,643 335,150 298,347 43,824 69A17 Income from othertradingactiwitie&' Commercial trading operatings Oth&r income 1,267,911 84,522 l267,911 84,522 Total income 1.984,734 127,054 2111,788 Expenditure.. Costs ol generating funds Cost of r8isingfunds.' Commercial trading operations 5xpenditure on chgritable activities. Events snd Exhibitions Film and video resource Courses, classes and related income Governance costs 11,210.876> 11,210,876) 1571,011) (224,1891 (46,796) (12,2291 (2,068,101) 1107,215) 158,306) {37,524) (681,226) 1282,495) 184,320) 112,229) (2271.146) Tot81 axpondltura (203,0451 Net incomel lexpenditurel for the year Tot81 funds brought forward Tr8nsler ol funds (83,367) 177,009) 175,9911 647,228 (159.358) 570,219 Total funds carried lorw8rd 1160,380) 571,237 410,859 22
Exeter Phoenix Ltd. Year End 31 March 2024 IS. Flxed A8$et$- Charlty Redevelopment Costs Leasehold Imwovements Fixtur8s, Fittings & Equipment Compvter Total Cost At l April 2023 Additions Disposals At 31 March 2024 2,696,728 7,033 624,196 15,402 61,065 17,565 3,389,022 31967 2696,728 7,033 639.598 78,630 3.421,989 Dèpreciation At l April 2023 Charge lor the year Eliminated (fispDsal At 31 March 2024 1184,760 107,579 &509 313 599,517 9,775 60,827 4,948 1851,613 122615 2291339 6,822 609,292 65,775 2.974,228 Net 8ook Value At 31 March 2024 At 31 March 2023 404,389 511,968 30,306 24,679 12.855 238 447,761 537.409 524 The company operates from a short leasehold building. The Company entered into 8 25-year lease from l April 2004 with four yearly rent81 reviews. Exeter City Council has purchased various fixed assets which the company uses without Charge.
Exeter Phoenix Ltd. Year End 31 March 2024 Flxed As88ts- Group R&development Co8t$ Leasehold Imwovement8 Fixtures. Fitting8 & Equipmènt Computer Totsl Cost At l April 2023 Addition5 tksw)sals At 31 March 2024 26%,728 86,571 44,170 837,609 29,510 61,065 17,565 3.681,973 91.245 2696,728 130,741 867,119 78,630 3,773,218 Oèpre¢iation At l April 2023 Chgige lor the year Eliminat8d on disposal At 31 March 2024 1184,762 107,579 26,844 12684 768,836 21518 60,827 4,948 3,041,269 147,729 2291341 39528 791,354 65,715 3.188.998 N8t Book Value At 31 Mèreh 2024 At 31 March 2023 404,387 511,966 91,213 59,727 75,765 68,773 12,855 238 584,220 640,705 24
Exeter Phoenix Ltd. Year End 31 March 2024 Intangible Fixed Assets- Group and Charity Web85te Totsl Cost At l April 2023 Additions Disposals At 31 Merch 2024 12,000 120(K) 12,000 iio(K) Depr8¢lation At l April 2023 Charge lor the year Elirninated on Olsposal At 31 March 2024 iiooo 12000 12,0 12000 Net Book Value At 31 March 2024 At 31 March 2023 16. Flxed Asset Investments Works ol Art Unlisted investments in subsidiAry Total V8lu& At l April 2023 Disposals At 31 March 2024 25,500 iooo 26,500 25,500 iooo 26,500 The historical cost of works of art as at the 31 March 2024 is £36,901 (2023.. £36,901). 17. Un118ted Invastmonts The trading subsidiary, Exeter Arts Trading Seivices Limited (EATS), is wholly owned by the company registered in England and Wales. Its registered office 1$ Bradninch Place, Gandy Street, Exeter, Devory EX4 3LS. The subsidiary has been valued in the accounts at the original cost of the shares. Fin3n¢ial figures for EATS are shown in note 5. The subsidiary has been included in these consolidated accounts. The investment is primarily for charitable activities. 2$
Exeter Phoenix Ltd. Year End 31 March 2024 18. Debtors Group Charity 2024 2023 2024 2023 Trade deblors Other debtors Prep8yment$ 8nd ac¢rued inc¢)me 35,137 34,388 10,093 35,247 27,228 4A34 26,649 37,150 618 25,909 27,228 3,821 56,958 79,618 66,909 64,417 19. Creditor¥: Amount¥ follin8 du6 within ono year Group Charlty 2024 2023 2024 2023 Trad8 creditors Othèr taxes and social security costs Other creditors Accruals and deferred income Bank overdraft and loans Obligations under hire purchase contracts Amounts owed to group undertakings VAT 78,472 16,218 319,686 40,001 10,000 7,773 90,000 20,569 279.628 i¥oo 10,000 30,600 9,Tr9 297.092 9,900 10,000 7,773 699 40,992 268,456 12,300 10,000 37,011 33,466 509,161 445.963 365.783 34Z969 20. Crodltors: Amount$ t8Ulng du& after more than one year Group Charity 2024 2023 2024 2023 Obligations under hire purcha$8 contracts BaT)k Lo8ns over l ye8r 11,667 21,667 Il667 21,667 21,667 Il667 21,667 Il667 26
Exeler Phoenlx Ltd. Year End 31 March 2024 21. Movement In funds Group Total funds at l Aprll 2023 Incomlng Te30urce8 Resourcas expen8ed Tiansf•r$ Total funds at 31 March 2024 Unrestrlcted lunds Genèral funds {160,3801 2,288,763 12248.4941 (7,0151 1227,1261 Re8tricted fund8 Capital rédèvelopmènt Other 539,649 31.589 19,719 140.066 1107,8921 1126.3261 (1582,7121 7,015 458.551 45,329 Total fund8 410B58 2448,608 276.754 Charity Tot81 fund8 at l April 2023 IOmIng r•sovrcès Resources 8xpènsèd rr8nsfer8 Totel hjnds t 31 March 2024 Unre8trlct8d lund8 General funds 1214,0321 947,788 (1,007.5191 17,0151 1280.7781 Re8tricted funds Capital redevek)pment Other 539,647 3l588 19,779 140,066 1107,8921 1126.3261 11,241,737) 7,015 458,549 45,328 Tot81 fund$ 357,203 I,K>7,633 223,099 Comparatlv88 for movements In funds Group Tot81 funds at l April 2022 Incomlng r8sourcos R¢stsur¢e$ •xpansed TT8nsfer8 Total funds at 31 Mar¢h 2023 Unrestricted lund8 Ganeral funds 177,W9) L984,734 12,068,101) (160,3761 Rostrictad funds Capit81 redevelopment Othèr 647,228 1107.579) 195,466) 12,271,146) 539,649 31,588 127,054 TotAI funds 570.219 2,111,788 410,858 27
Exeter Phoenix Lld. Year End 31 Mareh 2024 22. Movement In fund8 - contlnued Comparatives for movements in fiJnd8 Charity Total funds at l April 2022 Incoming resources Resource$ expensed Tran8ler8 Total funds at 31 Mar¢h 2023 Unrastrict8d funds General funds 173,6281 716,821 1857,2251 1214.0321 Restricted f4Jnds Capitsl redevek)pment Other 647,226 (107,5791 195,4661 11,060,270) 539.647 31,588 127,054 Total funds 573,598 843,875 357,203 The restricted funds are primarily represented by a capital redevelopment project funded by the lottery for the redevelopment of the building. The purpose of the fund was to pay for the building of the auditorium, Digital centre, bar area and other general refurbishments. As a condition ol the fund, the comp8ny is restricted in its use of the building to its charitable purposes for at leest another seven years. The general funds reserve represents the free funds of the charitable corrp8ny which are not restricted for particular use. 23. Analy818 of group net 88set8 betW88n fund8 Tangible Int8ngibl8 fixed a8$ets fixed 888ets Investment assets Net current Long t&rm Total Unrestricted funds Gener81 lund$ 166,858 (382,317) (11,667) (227,126) Re$trl¢ted fund8 Capital redevelopment Other 417,362 25,500 442,862 61,018 61,018 1321,299) Total net assets 584,220 25,500 {11,6671 276,754 28
Exeter Phoenix Ltd. Year End 31 March 2024 24 Analysls of charlty not assets between fund8 Tangible Flxed assets Intangiblo tixed assets Invo$tm&nt assèts Net current assetslliabilitias Long term Total Unra8tricted funds General funds 30.399 1300.5121 Ill6671 (281,780) R8Stricted funds Capital redevelopment Other 417,362 26,500 15,689 45,328 459,551 45,328 Tot81 net 0888ts 447.761 26,500 239,495) (Il6671 223,099 25. Operating Leases Non-cancellable operating leases for the group are as follows= 2023 2023 Less than l year 2-S year Over 5 year 60A76 81500 55,000 197,976 85,984 32,976 118,960 The annual amount due in respect of rent on Bradninch Place for 2023124 is £53,008. Exeter City Council has agreed to pay a grant of £53.008 in that year. The lease expires on 31 March 2024. These costs are grant aided in full by Exeter City Council. The company has two lease liabilities of £32,976 per annum until 31 March 2025 and £27,500 until 21 March 2030. The company's subsidi8ry is operating from the premises and are paying the annual liabilities on behalf ol the company. 26. Related party tran$a¢tions The company leases its building trom the City Council. The rent and service chaige charged durin8 the year totalled £62,470 (2023.. £62,470). The Council is also a grant provider to the organisation granting £75,000 (2023.. £92,000) and a service level agreement exists between the Council and the Company totalling £53,008 (2023.. £53.008). A Senior Manager of Exeter Phoenix has 8 b81ance due from the company of £9.355 (2023.. £9.355). 29
Exeter Phoenix Ltd. Year End 31 March 2024 Mana8ement Proflt and L088 Account (Charlty only) 2024 2023 Donations Grants Performance Hire of PA and technical Gallery Marketing Media centre Studio hire Education and access Theatre letting and conferences Box office Sundry Membership Property rental and maintenance Bar franchise donation 15.718 337.879 381.308 33,752 44,423 20 35,420 65,955 11,238 44,177 33,725 (1,161) 3,262 25,920 75,997 12217 335,150 235,273 24,815 37,665 170 44.248 60,940 8,877 29,686 26,321 358 615 27,540 1.107,633 843,875 Dlrect Costs Gallery Perlormance Art salaries Medi8 centre Media centre salaries Education and access 44,287 291,872 157,584 64,398 101,051 7,943 47.000 137,802 155,276 60.692 89,746 7,287 (667,135) 440,498 (497,803) 346,072 Gross Prollt Administration and marketing salaries Trainin& tr8velling and other stall costs Rent Service charge Premises maintenance Marketing Printing, postage and stationery Telephone 290,782 284,103 3,883 36,543 2S.783 2,457 29,609 4,750 1,033 6,734 37,944 27,050 2980 26,842 4,763 1,002 Total carried forwards 394,840 391,418 30
Exeter Phoenix Lld. Year End 31 Mah 2024 Managemant Profit and Loss Account (Charlty only)- continued Total brought forwards 394,840 391,418 Box office General insurance Subscriptions Hospitality Sundries Equipment hire and maintenance Professional fees Benk charges and interest Bad debts Hire purchase interest Audit and accountancy costs 9,301 21,005 3,234 6,824 16.520 3,130 332 2,837 7,376 3,063 2,282 13,752) 3,556 10,032 336 1.478 792 526 6.887 10,612 (451,987) (11,489) (440,642) 194,570) Operatlng L088 Depreciation Other Net Loss (122615) (120,209) (1,617) (216,396) (134,104) 31