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2024-03-31-accounts

Theatre Alibi

Unaudited Annual Accounts Year ended 31 March 2024

CONTENTS

Page

1-5 Report of the Board of Trustees
6 Independent Examiner’s Report to the Members
7 Statement of Financial Activities
8 Balance Sheet
9-13 Notes and Accounting Policies

Company Number: 2265919 Registered Charity Number: 299565

Theatre Alibi Annual Accounts Year ended 31 March 2024 Report of the Board of Trustees

The Board of Trustees submits its directors’ report and the unaudited financial statements for the year ended 31 March 2024.

The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association and 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 (FRS 102) (effective 1 January 2015).

Status

The Company was formed on 8 June 1988 as a company limited by guarantee, having no share capital (Company Registration number 2265919). The governing document is the Memorandum and Articles of Association, amended on 1 October 2021. Under the provisions of Section 30 of the Companies Act 1985 the Company is entitled to omit the word limited from its name.

The Company is a registered charity (number 299565) and is not subject to Corporation Tax in its ordinary activities.

Address and Registered Office

Emmanuel Hall Emmanuel Road Exeter EX4 1EJ

Trustees

The Trustees, who are directors for the purposes of company law, comprised the following during the year:-

John Bunting (Chair) Resigned 22 September 2023 Ailie Debonnaire Resigned 22 September 2023 Pete Goodwin Resigned 22 September 2023 Emma Hogg (Chair) Appointed Chair 22 September 2023 Tony Liddington Resigned 22 September 2023 Jules Offord Dulcie Oliver Resigned 22 September 2023 Julia Robinson (Treasurer) Anna Valentine-Marsh Erin Walcon

Objects and activities

This year has been a period of transformation for Theatre Alibi. For the first time in the company’s history we are no longer receiving regular core funding from Arts Council England (ACE). This change in financial circumstance has been a catalyst for bold and ambitious planning. With the help of Transition Funding from ACE, our entire operating model has shifted from making and touring theatre performances out to local schools and venues nationally, to the creation of a venue for children and their families right here in Exeter, at our base Emmanuel Hall. The organisation is working hard to seek and develop new core

1

funder relationships and increased project funding from a variety of sources including Arts Council England.

Whilst resulting in many changes to logistical operations of the company, the values at its heart remain the same.

Our vision is of a place where children of every background and circumstance are given the space and time to discover their full potential through creativity and imagination, in a world where the importance of creativity and imagination are recognised as essential to children leading happy, healthy and fulfilling lives.

Our mission is to provide children in Exeter and its surrounds with a safe, nurturing and inclusive space where they are inspired, and their imaginations can run free. Through workshops, performances, exhibitions and a wealth of creative activities, we will offer schools, families and young people opportunities to discover themselves and the world in new and imaginative ways.

By embracing the transformative power of the imagination, we aspire to empower the next generation to become confident, compassionate, and resilient people who contribute positively to their communities and planet.

We are ambitious, curious and bold. We aim to be leaders in our field, for our work to become nationally relevant and for our city to be proud of what we achieve.

Through partnerships and research, we will support our vision and become advocates for the importance of creativity within children’s lives, aiming to create ripples of change which spread far beyond our building.

Our Values

We are creating a home for the imagination; a place that welcomes everyone and offers a diverse range of creative arts performances and activities.

With over forty years of experience in the sector, the team is expertly placed to make this bold transition. Activity throughout 2023-2024 has demonstrated that the audience is keen to engage with the offer; demand from the public and from schools alike has been high and fundraising from individuals has increased considerably on previous years.

The company will also continue to support artists through programming their performance work, commissioning new work, engaging them to lead participatory activity and work with the team to develop the resources of the building itself.

Our achievements in 2023-2024

The first half of the year was focused on the preparation of the building for a new operational model. Clearing, sorting and refurbishment took place to open up new spaces for hire, increasing hire income considerably, whilst a sale of previously stored sets, costumes, props and equipment raised over £3,800.

As part of our commitment to sector development and leadership, we also made and released five new episodes of our podcast, Why We Make Things. Guests included Dr Penny

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Hay (Forest of Imagination), Sarah Argent, Asif Khan, Filskit Theatre Company and the new Artistic Director of Polka Theatre, Helen Matravers.

Thanks to transition funding from Arts Council England, we also undertook a thorough audit of our archives, handing over the newly documented materials to Bristol University’s Theatre Collection. We also celebrated our years of producing theatre with an event to mark Theatre Alibi’s many achievements over 40 years, with key stakeholders, local arts and cultural organisations, artists the company has worked with and friends and supporters.

In December, the re-located St Thomas Library opened its doors in Emmanuel Hall for the first time. This collaboration came about as a result of our change in operational model, having more spaces available for hire, as well as the library’s loss of their previous home. Having the local library housed in the space was a key milestone in re-positioning Emmanuel Hall as an open, public venue as well as providing even more links with the local community.

Part of the rise in individual giving came with our participation in the Big Give Christmas Challenge for the first time, smashing our target of £10,000 and engaging with over 100 new donors.

After a sold-out family-friendly Christmas Ceildh event, demonstrating the possibilities for intergenerational activity beyond traditional performance events, we threw open our doors for the first Festival of Stories.

A total of 1,357 people attended 38 events over three weeks. The ‘What If…?’ Festival of Children’s Stories included performances by Travelling Light Theatre Company and The Little Angel Theatre; a brand-new commission of a co-created storytelling experience; participatory workshops with a range of artists and companies including Discover Children’s Story Centre, Paddleboat Theatre Company, Exeter’s Northcott Theatre, Quirk Theatre, Pip Jones & Elizabeth Westcott, Sam Wilde and Laura Loft; and author events with Tom McLaughlin, Sarah McIntyre and Philip Reeve.

At the very end of the year, we were delighted to finalise plans to create a brand-new community garden at Emmanuel Hall, in collaboration with Zero Miles Gardeners, a local CIC.

Staffing Analysis (2022/2023 figures in brackets)

Permanent Directors (fulltime equivalent)
Artistic Director 0.7 (0.85)
Executive Producer (to 31/10/2023) 0.8 (0.8)
Chief Executive (from 01/11/2023) 0.8 (n/a)
Other employees (fulltime equivalent)
Production Manager 0.8 (0.8)
Marketing and Development Officer (to 31/10/2023) 0.6 (0.8)
Producer (from 31/10/2023) 0.6 (n/a)
General Manager 0.5 0.8)

Pay Ratios and Income Equality

Theatre Alibi is committed to men and women receiving equal treatment in the terms and conditions of their employment contracts. The Board annually reviews the pay policy, which includes all employees being paid at or above the Living Wage.

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Theatre Alibi is not required by legislation to report on the pay gap between male and female employees, but where a like for like comparison is possible there was no pay differential in 2023/24.

The differential between Theatre Alibi’s lowest and highest paid employees, or Pay Ratio, was 2:3 in 2023/24.

Environmental Performance and Progress

We are committed to reducing any negative environmental impacts from our activities. Our Environmental Policy is updated and reviewed on an annual basis by the Board. The policy is supported by an Environmental Action Plan, which is communicated to all staff. We continue to work closely with the Theatre Green Book team as plans for the venue develop.

Financial Review

Thanks to Transition Funding from Arts Council England, we were able to spend the first half of the year researching, analysing and planning for the new operational model. One condition of this funding was that it could not support direct activity, so earned income from ticket sales (etc) was much lower than in previous years but this was in line with expectations. A small surplus was achieved over the whole year thanks to careful savings on expenditure.

Risk Review

The Board of Trustees has considered the major risks to which the company is exposed. Currently the greatest of these is reliance on project funding, with no guaranteed core funding. A mitigating factor is that the new model has the potential to attract a broader range of funders.

A series of Key Performance Indicators, with regular review dates are in place to monitor the planned fundraising and other income-generating activity.

The Board of Trustees is satisfied that insurance cover and health & safety procedures are in place to adequately mitigate other risks.

Reserves Policy

The Board of Trustees has reviewed the charity’s needs for reserves in line with the guidance issued by the Charity Commission. Designated funds have been established for the following: an Employee Commitment Fund to cover costs of unforeseen events associated with employment; a Building Contingency Fund to cover costs related to premises, in particular with costs associated with fulfilling responsibilities as a tenant; a Development Fund to enable the company to respond to opportunities that are not included in annual budgets; a Capital Equipment Fund to cover the cost of replacing items such as technical equipment.

A balance representing four months of operating costs (approximately £65,000) has previously been preferred for the unrestricted General Reserve.

Due to the change in operating model and funding landscape, the Board of Trustees plans to review this reserves policy in 2024/2025 to ensure that levels of designated funds are appropriate to current needs and to ensure a healthy general reserve.

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Governance and Management

Theatre Alibi is a registered charity and a company limited by guarantee. At the start of the year, the company was run jointly by two Directors. At the end of October 2023, the Artistic Director left the company and the Executive Producer assumed the role of sole Chief Executive. The CEO is responsible to a Board of Trustees.

Theatre Alibi undertakes to ensure that all the people with whom the company has contact are treated fairly and with respect. This includes job applicants, employees (including freelance practitioners), volunteers, trustees, participants, venue staff and audience members. Anyone who works for the company is encouraged to develop and maximise their true potential irrespective of age, disability, race, religion or belief, national or ethnic origin, gender reassignment, marital status, caring responsibilities, gender and sexual orientation. The company has a Diversity & Equality Policy and Action Plan, Safeguarding Policy and Action Plan, and Data Protection Policy and Procedures which are reviewed annually by the Board of Trustees.

Statement of Board of Trustees’ Responsibilities

The Trustees (who are also directors for the purpose of company law) are responsible for preparing the annual report and financial statements in accordance with applicable law and the United Kingdom Generally Accepted Accounting Practice (UK GAAP).

Company law and the law applicable to charities in the United Kingdom requires the Trustees 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 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 Charities SORP, make judgements and estimates that are reasonable and prudent, state whether applicable accounting standards have been followed, subject to any departures disclosed and explained in the financial statements, and prepare the financial statements on the going concern basis unless it is inappropriate to presume the company will continue in business.

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the Company and to enable it to ensure that the financial statements comply with the Companies Act 1985. The Trustees are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities (issued in March 2005) and in accordance with the special provisions of Part VII of the Companies Act 1985 relating to small entities.

Approved by the Board of Trustees on 03 October 2024 and signed on its behalf.

Emma Hogg Chair

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Independent exarninerfs report to the trustees of Theatre Alibi ('the CompanV} I reportto the charity tru5tee5 on my eXaMinat￿n ofthe accounts of the Companyforthe yearended 31 March 2024. Responslbllltles and basls of report As the charivs trustees of the Company land also tts directors ftjr the purposes of company lawl you are responsible for the preparatk)n of the accounts in accordance wtth the requirements of the Companies Art 2￿ {'the 2006 A£t'l. Having satisfied myseMthat the accounts of the Company are r￿t required to be audlted under Part 16 of the 2CKJ6 Act and are eligible for independent examination. I report in respect of my examination of your chariws accounts as carried out under Section 145 of ihe Charities Act 20111.the 2011 ACVI. In carrying out my examination I have followed the Directions given by the Charity Commission under 5ertion 145151 Ibl of the 2011 Act. Independent examlnerfs ststement Since the CoMpan￿S gross income exceeded £250,(XX) your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualrfied to undertake the examination because l a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed LK)dies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were r￿t kept in respect of the Company required by Section 386 of the 2006 Act,. or 2. the accounts do not accord with tl)ose records: or 3. the accounts do not comply wtth the accounting requirements of section 396 of the 2006 Att other than any requirement that the accounts give a 'true and fairview which is not a matter consldered as part of an independent examination; or 4. the accounts have not been prepared in accordance with ihe methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with ihe financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10211. I have no concerns and have come across no other matters in tonnertion with the examination to which attention should rawn in this report in orderto enable a proper understandinE of the accounts to be reached. Pa Steele FCA Chartered Accountant 6 Oaklands Court riverton Devon EX16 6TG 3 October 2024

Theatre Alibi Statement of financial activities Income and expenditure account Year ended 31 March 2024

Notes
Income
Charitable activities:
Performances and events
Grants,donations and commission
2
Other income
3
Investment income:
Interest receivable
Expenditure
Charitable activities
Direct operational costs
4
Support costs
5
Consultancy
Redundancy payments
Depreciation
Profit on disposal of assets
Total expenditure
Net income/ expenditure for
the year
Transfers between funds
Net movement in funds
Fund balances brought forward
Fund balances carried forward		 Unrestricted
Restricted
Total
General
Designated
funds
2024
£
£
£
£
4,329
4,329
203,586
203,586
40,545
40,545
3,519
3,519
251,979
0
0
251,979
30,778
30,778
210,591
210,591
0
24,220
24,220
6,999
6,999
0
248,368
24,220
0
272,588
248,368
24,220
0
272,588
3,611
-24,220
0
-20,609
0
3,611
-24,220
0
-20,609
38,030
117,810
0
155,840
41,641
93,590
0
135,231		 Total
2023
£
49,109
300,846
16,876
943
367,774
265,668
144,341
3,950
13,734
13,166
-5,775
435,084
435,084
-67,310
0
-67,310
223,150
155,840

The statement of financial activities includes all gains and losses in the year. There were no acquisitions or discontinued operations during the current or preceeding year.

7

Theatre Alibi Balance sheet 31 March 2024

Notes
Tangible fixed assets
7
Current assets
Debtors
8
Cash at bank
Cash in hand
Creditors
Amounts falling due within one year
9
Net current assets
Net assets
Reserves
10
Restricted fund
11
Unrestricted funds
Designated funds
12
General fund
Total income funds
13		 2024
£
£
2,964
23,207
130,111
393
153,711
21,444
132,267
135,231
0
93,590
41,641
135,231
135,231		 2023
£
£
9,963
21,932
138,804
99
160,835
14,958
145,877
155,840
0
117,810
38,030
155,840
155,840		 2023
£
£
9,963
21,932
138,804
99
160,835
14,958
145,877
155,840
0
117,810
38,030
155,840
155,840
155,840

For the financial year ended 31 March 2024 the company was enitled to exemption from audit under section 477 Companies Act 2006; and no notice has been deposited under section 476.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 of the Act and preparing accounts which give a true and fair view of the state of affairs of the company as at the end of the year and of its profit or loss for the financial year in accordance with the requirements of section 396 and which otherwise comply with the requirements of the Companies Act 2006 so far as applicable to the company.

Approved by the Board of Trustees on 3 October 2024 and signed on its behalf

Emma Hogg Julia Robinson Chair Trustee 8

Theatre Alibi Annual Accounts Year Ended 31 March 2024 Notes to the Accounts

1. Accounting Policies

Basis of Accounting

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 (FRS102) (effective 1 January 2015) – (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Theatre Alibi meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated.

The Trustees consider that the charity has adequate resources to continue its operations for the foreseeable future and accordingly have adopted the going concern basis in preparing the accounts.

Income

Income is recognised when the charity is entitled to the funds, any performance conditions have been met, it is probable that the income will be received and the amount can be quantified with reasonable accuracy. The following policies are applied to particular categories of income:

Expenditure

Expenditure is recognised on an accrual basis when a liability is incurred.

Assets

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Theatre Alibi Annual Accounts Year ended 31 March 2024 Notes to the accounts

2. Grants, donations and commission
Exeter City Council
Other grants
Theatre Tax Credit
Donations and sponsorship
3. Other income
Consultancy
Profit on sale of equipment
Equipment hire and other sales
Employer's NI allowance
Hire of premises
4. Direct operational costs
Salaries and fees:
Artistic directors
Actors
Stage management
Other production salaries
Freelancer travel and subsistence
Fees and commissions
National insurance
Company pension contributions
Technical and equipment costs
Production materials
Catering costs
Publicity
Travel and subsistence
Motor expenses
Arts Council England. Project grants
Arts Council England. Transition grant		 2023/2024
Unrestricted
Restricted
£
£
30,000
143,528
0
4,630
12,083
13,345
203,586
0
6,753
3,700
2,985
5,000
22,107
40,545
0
0
0
0
0
2,290
20,914
0
0
23,204
1,557
692
4,165
1,160
0
30,778
0		 2022/2023
Unrestricted
Restricted
£
£
246,042
0
15,360
23,934
7,797
7,713
300,846
0
0
0
1,073
5,000
10,803
16,876
0
35,275
35,774
40,960
33,127
10,476
47,586
8,391
5,767
217,356
12,572
12,928
0
18,127
1,398
3,287
265,668
0		 2022/2023
Unrestricted
Restricted
£
£
246,042
0
15,360
23,934
7,797
7,713
300,846
0
0
0
1,073
5,000
10,803
16,876
0
35,275
35,774
40,960
33,127
10,476
47,586
8,391
5,767
217,356
12,572
12,928
0
18,127
1,398
3,287
265,668
0
0
0
0

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Theatre Alibi Annual Accounts Year ended 31 March 2024 Notes to the accounts

5. Support costs
Employment costs:
Core staff salaries
National insurance
Company pension contributions
Rent, rates and water
Heat, light and power
Property maintenance
Property refurbishment
Telephone
Postage, stationery and computer
Company development fees
Admin travel and motor expenses
Training and recruitment
Hospitality costs
Insurance
Subscriptions
Accountancy and independent examination
Sundries		 2023/2024
Unrestricted
Restricted
£
£
115,137
10,000
5,624
130,761
0
20,612
8,869
7,155
11,104
2,201
5,119
7,345
2,227
0
1,707
4,545
830
6,625
1,491
210,591
0		 2022/2023
Unrestricted
Restricted
£
£
76,542
6,239
4,097
86,878
0
20,708
10,082
3,243
0
1,470
5,532
0
288
2,024
0
5,348
135
6,300
2,333
144,341
0		 2022/2023
Unrestricted
Restricted
£
£
76,542
6,239
4,097
86,878
0
20,708
10,082
3,243
0
1,470
5,532
0
288
2,024
0
5,348
135
6,300
2,333
144,341
0
0
0

Support costs include governance costs of £12,000 (2023: £14,434)

Governance costs include independent examiner's fees of £1,600 (2023: £1,550)

6. Employee information
The average number of full-time equivalent employees during
the year was as follows:
Project related personnel
Core staff
Staff costs for the above persons were:
Wages and salaries
Redundancy payments
Social security costs
Pension costs		 2023/2024
number
0
3
£
115,137
24,220
10,000
5,624
154,981		 2022/2023
number
6
3.5
£
221,678
13,734
14,629
9,864
259,905

No employee earned more than £60,000 per annum (2023-none)

The charity operates a defined contributuion pension scheme. The contributions to the scheme are allocated between production and support costs according to the staff involved.

1 1

Theatre Alibi Annual Accounts Year ended 31 March 2024 Notes to the accounts

7. Tangible fixed assets

7. Tangible fixed assets
Leasehold Production Office Motor
**improvements ** equipment equipment vehicles Total
Cost £ £ £ £ £
At 1 April 2023 75,585 12,072 16,295 32,437 159,467
Additions 0
Disposals 0
At 31 March 2024 75,585 12,072 16,295 32,437 159,467
Depreciation
At 1 April 2023 69,771 12,072 12,146 32,437 149,504
Charge for the year 5,814 1,185 6,999
Eliminated on disposals 0
At 31 March 2024 75,585 12,072 13,331 32,437 156,503
Net book amounts
At 31 March 2024 0 0 2,964 0 2,964
At 31 March 2023 5,814 0 4,149 0 9,963
8. Debtors
2024 2023
£ £
Trade debtors 2,051 4,247
Other debtors 1,927 7,941
Prepayments and accrued interest 19,229 9,744
23,207 21,932
9. Creditors - amounts falling due
within one year
Trade creditors 4,029 263
Tax and social security 1,811 3,584
Accrued pension contributions 653 1,368
Accruals 6,625 6,125
Other creditors 8,326 3,618
21,444 14,958

10. Movements in funds

Employee Commitment Fund
Building Contingency Fund
Development Fund
Capital Equipment Fund
Restricted Fund
Designated Funds
Unrestricted General Fund		 Transfers
£
£
£
£
£
0
0
31,526
-24,220
7,306
25,827
25,827
18,650
18,650
41,807
41,807
38,030
251,979
-248,368
41,641
At 1 April
2023
Incoming
resources
Outgoing
resources
At 31
March 2024
155,840
251,979
-272,588
0
135,231

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Theatre Alibi Annual Accounts Year ended 31 March 2024 Notes to the accounts

11. Restricted fund - Grants for fixed assets

Grants for fixed assets are credited to this fund and depreciation on the fixed assets financed with this funding is charged to the fund.

12. Designated funds

Employee Commitment Fund

This fund represents reserves set aside to meet unforeseen costs associated with employment, for example sickness, maternity and redundancy.

Building Contingency Fund

This fund was set up to provide for costs associated with the occupation of premises.

Development Fund

This fund is to provide means for the company to respond to opportunities not included in annual budgets

Capital Equipment Fund

A fund to provide for the replacement of capital equipment

13. Analysis of net assets between funds

Restricted fund
Unrestricted funds:
Employee Commitment Fund
Building Contingency Fund
Development Fund
Capital Equipment Fund
General reserve		 Tangible
Net
fixed
current
assets
assets
Total
£
£
£
0
7,306
7,306
25,827
25,827
18,650
18,650
41,807
41,807
2,964
38,677
41,641
2,964
132,267
135,231

14. Commitments under operating leases

At 31 March 2024 the company had annual commitments of £20,000 (2023: £20,000) under non-cancellable operating leases expiring between two and five years in respect of land and buildings.

15. Contingent asset

The company is entitled to make claims for Theatre Tax Credit under the Theatre Tax Relief legislation. Claims are outstanding for the year ended 31 March 2023. This claim is expected to yield about £10,000 for the year and is dependent on negotiation with HMRC.

16. Related Party Transactions

J Ison, who was a Trustee until January 2023, is a consultant to the firm Bray Accountants which provided accountancy services to the value of £3,950 during the year, as authorised under clause 4.4.3 of the Articles of Association.

During the year, payment of expenses to Trustees for attending meetings amounted to £nil (2022: nil)

There have been no other related party transactions.

17. Theatre Alibi is a company limited by guarantee, incorporated in England and Wales (number 2265919) Registered office: Emmanuel Hall, Emmanuel Road, Exeter EX4 1EJ

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