Theatre Alibi Unaudited Annual Accounts Year ended 31 March 2025 CONTENTS Page Report of the Board of Trustees Independent Examiner's Report lo the Members Statement of Financial Activities Balance Sheet 9-13 Notes and Accounting Policies Company Number: 2265919 Registered Charlty Number: 299S65
Annual Accounts Year ended 31 March 2025 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 2025. 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 Reporhng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151. Status The Company was formed on 8 June 1988 as a company limited by guarantee, having no share capital (Company Registration number 22659191- The governinE document is the Memorandum and Articles of Association, amended on l 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 2995651 and is not subject to Corporation Tax in its ordinary activities. Address and Registered Office Emmanuel Hall Emmanuel Road Exeter EX4 IEJ Trustee5 Emma Hogg (Chair) Jules Offord Julia Robinson (TreasUrI Anna Valentine-marsh Erin Walcon Objects and activities Our vision is of a place where all children can explore their creativity and imagination, in a world where everyone under5tand5 the importance of creativity and imagination to happy, healthy and fulfilling lives. Our misslon is to create playful, safe and inclusive spaces where children can explore their creativity and discover themselves and the world in imaginative way5. Through live performances, engaging experience5 and hands-on activities, we provide families, schools and communities with creative ways to inspire and empower their children and young people. We're here to celebrate the power of
imagination and champion the importance of creativity in children's lives. In carrying out these objects the trustee5 have regard to the Charity Commission guidance on public benefit. Our Values Welcoming Curious In5pirin8 Joyful Brilliance Our achievements in 2024-2025 The first half of the year was focused on the refurbishment of the building funded by Arts Council England's Capital Grant. The primary objective was to install a black box theatre space in the main hall that was easy and quick to set up, ensuring that the hall could continue to be used for a variety of purposes. The ACE grant paid for 3 flexible tiered seating system, blackout tabs and a theatrital lighting rig, along with a new sound system, projector and remote-controlled screen. It also allowed us to purchase additional furniture to enhance the upstairs Studio space as well as paying for a new outomatic door and ramp at the Library entrance which improves accessibility and environmental sustainability. We were also delighted to welcome Zero Miles Gardens, a local CIC, to take up residence at Emmanuel Hall where a well-used and highly productive community garden has blossomed from bare earth at the stsrt of April. From September onwards we launched an exciting programme of events and activities, including our Christmas offer Winterwood. This immersive and interactive experience- which saw a pirse forest spring to life inside Emmanuel Hall- was co-created with primary school children throughout the city, and ran throughout December ènd early Jonuary. Winterwood welcomed 1950 public audience members and 360 children in school groups. We smashed our box office income target, and the feedback from both audiences and teachers was exceptional. "I think it was o reolly enriching experiencefor them ond really ollowed them to See thot uctU1711y ideos that start really small...can build ond then create something t7mazing. Especially my lowest 20% attaine, children who might not nece55t7rilyfeel very confident within themselves or their ideas" Partbclpating teacher "(WinterwoodJ-..was wonderful and completely exceeded all expectati(Jns. It gifted us the magic that only reGTI humun interactive experience ctin give...we oll knew it was hGrppening in the momen¢ justfor us, euch performt7nce completely unique. Exactly whot theatre should be" Audience Member
stsffing Analysis1202312024 figures in bracketsl Permanent Oirectors Ifulltime equivalentl Chief Executive 10.81 other employees (fulltime equivalentl General Manager Producer Imarketing and Comsl Producer IProgramme and Productions) 10.61 10.61 In/al Pay Ratios and Income Equality Theatre Alibi is committed to men and womerb receiving equal treatment in the terms and conditions of their employment contrart5. The Board annually reviews the pay policyi which includes all employees being pald at or above the Living Wage. 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 differentiol in 2024125. The differential between Theatre Alibi's lowest and highest paid employees, or Pay Ratio, was 2=3 in 2023124. 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 and the entire production process for Winterwood was undertaken to Theatre Greers Book standards. Capital work undertaken over the first half of the financial year, had a Sustainability Project Manager attached to it, ensuring that the environmental impact of all changes linclvding suppliers & origin of products) was a key factor in all our choices. Financial Review A5 the second year in our three-year transitional Business Plan. a loss had been forecast for 24-25 and approved by the Board of Trustees in advance, with the knowledge that there were sufficient funds in our general reserve to cover it. At the end of March 2025 we were pleased to report that the loss wa5 not so great as that originally forecast, this was thanks to careful financial management as well as to the Theatre Tax Credit scheme. We were delighted with our success rate for applications to Arts Council England IICK)%l. As well as our first time reteiving a Capital Grant, it was also the first time we received a project grant for over £30,000. The success rate for applications to Trusts ond Foundations was not as high, but the total income was over seven times more than the previou5 year. Earned Income across nearly all strands also increased from 2023-24, Ipartly due to the restriction5 on activity for half of 23-24, as part of the terms of the ACE Transition Funding) including income
from our programmed activity, building hire, catering sales, and consultancy work. Naturally this huge increase in activity led to a correlating increase in direct operational costs. However, support costs were greatly reduced as the tore staff team wos reduced. Please note that the sum Df £106,762 Ithe Capital Grant Award from Arts Council England) has been capitalised on the balance sheet as restricted funds, as per the term5 and conditions of the grant. Rlsk Revlew The Board of Trustees has considered the major risk5 to which the company is exposed. Currently the 8reatest 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 revlew dates are in place to morbitor the planned fundroising 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 Pollcy The Board of Trustees has reviewed the charity's needs for reserves in line with the guidance Issued by the Charity Commi55ion. Dèsignated funds have been established for the following: Operational Fund (to cover the cost5 of unforeseen event5,' approxlmately 3 months operating costs) Employee Commitment Fund lequal to the contractual redundancy obligatlons of current permanent employees) Building Contingerbcy Fund la fund for investment in the building's redevelopment) The remaining balance of funds 15 held as a General Resee. Governance and Management Theatre Alibi is a registered charity and a company limited by guarantee. The Chief Execudve Officer Is responsible to a Board of Trustee5. Theatre Alibi undertakes to ensure that all the people with whom the company has contact are treated fairly and with respect. This includes job appSi¢ants, employees (including freelance practitioners), volunteers, trustees, participants, venue staff and audience members. Anyone who works for the compary 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 re5pon5ibilities, 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 Tru5tee5. Staternent of Board of Tru5tee5' Re5pon51billtles The Trustees (who are also dirertors for the purpose of company lawl are responsible for preparing the annual report and financial statements in accordance with applicable law and the United Kingdon Generally Accepted Accounting Practice (UK GAAPI
Company law and the law applicable to charitie5 in the United Kingdon 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 statement5, 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 linancial statements on the going concern basis unle55 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 finantial 5tatement5 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 IFRS1021 and in accordance with the special provisions of Part Vll of the Compariies Act 1985 relating to small entities. Approved by the Board of Trustees on 16 September 2025 and signed on its behalf. Emma Hogg Chair Julia Robin50n Treasurer
Independent examiner's report to the trustees of Theatre Alibi {'the Companv) I report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and basis of report A5 the charitV'5 trustees of the Company land also its directors for the purposes of company lawl you are responsible for the preparation of the account5 in accordance with the requirements of the Companies Act 20061'the 2006 Act'l. Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as tarried out under section 145 of the Charitie5 Act 20111.the 2011 Act'l. In carrying out my exarnination I have followed the Directions given by the Charity Commission under section 145151 Ibl of the 2011 Act. Independent examlner's statement Since the Company's gr055 income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies. I have completed mv examination. I confirm that no matters have tome to my attention in connection with the examination giving me cause to believe.. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act.. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accounting requirement5 of section 396 of the 2006 Act other than anv requirement that the accounts give a 'true and fair view which 15 not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principle5 of the Statement of Recommended Practice for accounting and reporting by charities lapplicable to charities preparing their accounts in accordance with the Financial Reportirig Standard applicable in the UK and RepL¢blic of Ireland IFRS 10211. I have no concerns and have come across no other matters in connection with the examination to which attention should b awn in thi5 report in order to enable a proper understanding of the account5 to be reached. Paul teele FCA Chartered Accountant 18 Newport Street Tiverton Devon EX16 6NL
Theatre Alibi Statement of financial activities Income and expenditure account Year ended 31 March 2025 Notes Unrestrfctsd General Designatgd Restrlcted funds Total 2025 Total 2024 Income Charitable activitle$: Perfomiances and events Granls,donalions and commission Other income Investment income- Interest receivable 23,762 158,297 73,085 23,762 263,059 73.085 4,329 203.586 40,545 106,762 2,229 255,373 2.229 362,135 3.519 251,979 108,762 Expendlture Charltsble activltles Direct operational costs Support costs Redundancy payments Depreciats'on 93,634 177,722 93,634 177,722 30,778 210.591 24,220 6,999 3,457 26,691 30,148 274.813 26,691 301,504 272,588 Total expendlture 274,813 26,691 301,504 272,588 Net In¢omel expondltur¥ for the year Transfers between funds Net movement in funds Fund balances brought forlvard -19.440 80.071 60,631 -20,609 -19,440 41,641 80,071 60,631 135,231 -20,609 155,840 93,590 Fund balance$ Carrled forward 22,201 93,590 80,071 195,862 135.231 The statement of financial activities includes all gains and losses in the year. There were no acquisitions Dr discontinued operations dunng the current or preceeding year.
Theatre Alibi Balance sheet 31 March 2025 Notes 2025 2024 Tangible r?xed assets 88.668 2,964 Current assets Debtors Cash al bank Cash in hand 87,013 94,345 718 182,076 23,207 130,111 393 153,711 Credltors Amounts falling due within one year 74,882 21,444 Net current assets 107,194 132,267 Net ass8t$ 195.862 135,231 Re8erve8 Restricted fund Unreslricled funds Designated funds General fund 10 80,071 12 93,590 22,201 93,590 41,641 115,791 135,231 Total income funds 13 195.862 135,231 For the financial year ended 31 March 2025 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 stsle of affgirs of the company as al the end of the year and of ils profil or loss for the financial year in accordance with the requirements of section 396 and which olheNise comply wtth the requirements of the Companies Act 2006 so far as appli¢able lo the company. Approved by the Board of Trustees on and signed on its behalf Chair
Theatre Alibi Annual Accounts Year Ended 31 March 2025 Notes to the Accounts 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 Stsndard applicable in the UK and Republic of Ireland IFRS1021 leffeclive 1 January 2015} (Charities SORP IFRS 10211, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 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 stsled. The Trustees consider that the charity has adequate resources to continue ils 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 enlilled to the funds, any perfomian conditions have been mel, it is probable that the income will be received and the amount can be quantified with reasonable accuracy. The following policies are applied lo particular categories of income.. Incoming resources from theatrical performances and related aclwities are included when perfor[nan$ are carried out and as goods and services are invoiced. Grants and donations are included when the conditions for receipt are met. Grant income is delerred when performance related grants are received in advance. Investment income is included when ceivable. Where services are provided as a donab'on that would olhefwise be purchased from suppliers, this contribution is included in the financial statements as incoming resources with an equivalent amount included as expenditure. Expenditure Expenditure is recognised on an accrual basis when a1iability is incurred. Charitable activities include all expenditure associated with the produ¢lion of theatrical performances, including both direct and support costs. Governance costs include those costs associated with meeting the constilulional and slatulory obligations of the charity, including examination fees. Rentals payable under operating leases are charged in the stslement of financial activities on a slfftighl line basis over the lease term. Creditors are measured al settlement amounts less any trade diunIs. Assets Tangible fixed assets costing £500 or more are included at cost and are depreciated by equal annual instalmenls over their estimated useful lives al the following rates'.- Leasehold improvements Over the life of the lease Motor Vehicles 250 Office Equipment 25Yo Production Equipment 25% Debtors are measured on initial Cognition at settlement amounts. Subsequendy they a measured al the cash or other consideration expected to be received.
Theatre Alibi Annual Accounts Year ended 31 March 2025 Notes to the accounts 202412025 202312024 Unrestricted Restri¢t Vnr8strlct¢d Restrictsd 2. Grants, donations and commission Arts Council England. Project grants Arts Council England. Capital grant Arts Council England. Transition grant Exeter City Council Oevon County Council Other grants Theatre Tax Credf( Donations and sponsorship 68,000 30,000 106,762 143,528 1,500 2.000 33,192 48,609 2,996 4,630 12,083 13,345 156,297 106,762 203.586 3. Other income Consultancy Profrl on sale of equipment Catering sales Equipment hire and other sales Employerfs Nl allowance HI of premises 10,100 17,917 2,653 5,930 5,000 31,485 6,753 3,700 755 2,230 5,000 22,107 73,085 40,545 4. Direct operatlonal costs Production cost5 Programming costs Project sundries Documentation Evaluation Freelancer travel and subsistence Fees and commissions FOH operating costs Technical support costs Catering and merchandise co$ls Publicity Motor expenses 10.743 15,936 1,259 450 1,500 1,685 45,531 4,707 555 2,101 6,358 2,809 1,557 3,450 20,914 692 4,165 93,634 30,778 10
Theatre Alibi Annual Accounts Year ended 31 March 2025 Notes to the accounts 202412025 202312024 Unre8tr1tted Re8tr6cted Unrestrlctsd Restricted S. Support costs Employment ¢osts'. Core staff salaries National insurance Company pension contributions 85,199 7,349 3,146 95,694 2,800 20,951 11,959 18,946 115,137 10,000 5,624 130,761 Fundraising costs Rent, rates and water Heat, light and power Property maintenance and cleaning Propety refurbishment Telephone Postage, stslionery and computer Company development fees Consultancy fees Admin travel and motor expenses Training and recruitment Hospitality costs Insurance Subscriptions Accountancy and independent examination Sundries 20,612 8,869 7,155 11,104 2.201 5,119 7,345 2,583 4,419 3,608 4,812 627 39 72 4,624 381 5,075 1.132 177.722 2,227 1,707 4,545 830 6,625 1,491 210,591 Support costs include govemance costs of £12,00012024.. £12.0001 Governance costs include independent examinerfs fees of £1,60012024'. £1,600) 202412025 202312024 6. Employee infomiatlon numbor number 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 s81aries Redundancy payments Social security costs Pension Costs 88,917 115,137 24,220 10,000 5,624 7.691 3,146 99,754 154,981 No employee earned rn0 than £60,000 per annum12024-nonel The charity operates a defined conlributuion pension scheme. The contributions to the scheme are allocated beeen production and support costs according lo the staff involved.
Theatre Alibi Annual Accounts Year ended 31 March 2025 Notes to the accounts 7. Tangible flxed a8$9ts Lea86hold Productlon Offi¢• mprovements equipment 0quipment Motor vehlclos Total Cost At 1 April 2024 Additions Disposals Al 31 March 2025 75,585 100.579 12,072 14,923 16.295 350 32,437 136,389 115,852 32,437 219,804 32,437 176,164 26,995 16,645 D8pro¢lation Al 1 April 2024 Charge for the year Eliminated on disposals Al 31 March 2025 75,585 25,145 12,072 3,731 13.331 1,272 32,437 133,425 30,148 32,437 131,136 32,437 100,730 15,803 14,603 Net book amount8 Al 31 March 2025 75,434 11,192 2,042 88,668 At 31 March 2024 2.964 2,964 8. Debtor8 2025 2024 Trade debtors Other debtors Prepayments and accrued intere81 18,167 1,572 67,274 87,013 2,051 1,927 19,229 23.207 9. Cr•dltorn- amounts falllng duo wlthln one year Trade creditors Tax and social security Accrued pension contributions Accruals Other eredilors Income received in advance 10.955 5,126 437 6,837 4,414 47,113 74,882 4,029 1,811 6S3 6,625 1,046 7,280 21.444 10. Movements In fund8 At 1 Aprll 2024 In¢orning Outgolng At31 re8ource• rnsources Tran8fer8 March 2025 R•¥tricted Fund Designated Funds Employee Commitment Fund Building Conlingeney Fund Development Fund Capital Equipment Fund Unrestricted Genèral Fund 106,762 -26.691 80,071 7,306 25,827 18,650 41,807 41.641 135.231 3.626 -20,827 55,099 41,807 3,909 10,932 5,000 73,749 255,373 362, 135 12 -274.813 -301,504 26,110 195,862
Theatre Alibi Annual Accounts Year ended 31 March 2025 Notes to the accounts 11. Restricted fund - Grants for flxed assets Grants for fixed assets are credited to this fund and depreciatDn on the fixed assets financed with this fvnding is charged to the fund. 12. Designated funds Employee Commitment Fund This fund represents reserves set aside lo meet unforeseen costs associated with employment, for example sickness. maternity and redundancy. Building Contingency Fund This fund was set up lo provide for costs associated with the occupation of premises. Development Fund This fund 15 to provide means for the company to respond to opportunities not induded in annual budgets Capital Equipment Fund A fund to provide for the replacement of capital equipment 13. Analysis of net assets betweBn funds Tangible rixed assets Net current assets Total Restricted fund Unreslricled funds.. Employee Commitment Fund Building Contingency Fund Development Fund Capital Equipment Fund General reserve 80,071 80.071 10,932 5,000 73,749 10,932 5.000 73,749 8,597 17,513 26,110 88,668 107,194 195,862 14. Commitments under operating leases At 31 March 2025 the company had annual commitments of £20,000 (2024.. £20.0001 under non-cancellable operating leases expiring beeen and five years in respect of land and buildings. 15. Contingent asset The company is enlilled to make claims for Theatre Tax Credit under the Theatre Tax Relief legislation. Claims are outstanding for the year ended 31 March 2024. This claim is expected to yield about £10,000 for the year and is dependent on negotiation with HMRC. 16. Related Party Transactions During the year, payment of expenses to Trustees for attending meetings amounted lo £nil12024'. nil) There have been no other related paty 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 1 EJ 13