Festival and King's Theatres Annual Review 2011-12

edtheatres com

Annual Review 2011/12


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TickeTedtheatres.com

Overall achieved capacity increased by 8%

30% Christmas15% musiC15% DanCe11% Drama

10% Opera10% rentals6% COmeDy 3% Family FrienDly

performance income by genre

increase in tickets per performance

tickets per performance 2010/11 and 2011/12 for Festival City theatres trust (Festival and King’s)

Ballet

2010/11

2011/12

1400

1200

1000

800

600

400

200

Dance Opera Plays XmasKids Musicals

Ballet

2010/11

2011/12

1400

1200

1000

800

600

400

200

Dance Opera Plays XmasKids Musicals

increase in income per ticket

09/10

Festival

King’s

£20.00

£10.00

£15.00

£5.00

£0.00

11/1210/11Tickets Per Performance

09/10

Festival

King’s

1000

500

100

Tickets Per Performance

11/12


10/11


09/10

Festival

King’s

1000

500

100


11/12


10/11

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edtheatres.comedtheatres.com

I’m delighted to be joining Festival City theatres trust at such an important time in its history. Since its inception in 1994, the Trust has been committed to providing dynamic local, national and international arts programming to the widest possible audiences.

Under our new business model, we are looking to develop and fulfil our creative ambitions by giving each of our theatres - the prestigious Festival Theatre and the much loved King’s - their own clearly identifiable programmes. This initiative will allow the Trust to develop two distinct brands for growing audiences, improving sales and increasing income.

At the King’s, quality drama will be at the heart of the programming. Supporting this core of high quality, high profile work will be a three to four week amateur season, children’s and young people’s productions, edinburgh international Festival and of course, the King’s panto.

Developed specifically for ballet, opera and contemporary dance, the Festival Theatre has the largest stage in Scotland and the third largest in the UK. Edinburgh’s performing home to both scottish Opera and scottish Ballet,

The Festival & King’s Theatres Edinburgh, two of Scotland’s leading theatres, are operated by Festival City theatres trust. Artistically-led, but commercially focused, we are Scotland’s largest independent theatre organisation.

In 2011/12, we hosted 309 performances across our two theatres; a reduction from 437 performances in 2010/11 due to the King’s being closed for an exciting refurbishment project for 7 months of the year.

Despite the reduced programme, we are pleased to report an overall increase in activity, with more tickets sold per performance at each theatre compared with the previous financial year, an 8% increase in achieved capacity across both theatres, and an increase in income generated per ticket.

these national companies deliver high-quality, home-grown productions for up to eight weeks of the year. As we develop the Festival Theatre’s role as the national stage for international contemporary dance, we also take forward its reputation for ‘event’ theatre and red carpet glamour as the ‘Festival House’ of Scotland’s capital city. This year, we’re working with edinburgh Jazz & Blues Festival for the first time and this prestigious partnership follows our established working relationships with edinburgh international Film Festival and edinburgh international Festival.

The launch of our new theatre brands is accompanied by the launch of our new website, edtheatres.com, which we hope will attract new audiences and keep our current audiences up to speed on all our programming, learning and access activity.

As we consolidate our position, having turned a substantial trading deficit in 2011 into a surplus in 2012, we embark on a new period of artistic and commercial endeavour. I am hugely excited at taking on this new challenge and working with the team to develop these two great theatres under a united banner of excellence.

Duncan hendryChief Executive

A year of change and re-evaluation

Welcome to the Annual Review 2011/12

Duncan hendry Chief Executive

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37,325 ice-creams were sold at the king’s panto!

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This year’s festive season was a huge success. We saw bigger audiences, with overall ticket sales up by 13.5% compared with the previous year’s Christmas shows.

The King And I at the Festival Theatre > 30,816 people attended 30 performances

> 36% increase in attendance compared with previous year

> 77% increase in Box Office takings compared with previous year

King’s Panto: Cinderella > 92,122 people attended 81 performances

> 8% increase in attendance compared with previous year

> Over £1.5m taken at the Box Office

Annual Highlights

it’s a full house guvnor! One Man, Two Guvnors was the biggest-selling drama of 2011/12. The national theatre’s smash-hit comedy starring James Corden performed to a 99.2% capacity audience during its run at the King’s Theatre in October 2011.

“ corden is absolutely the star of this show, from the applause at his entrance to the applause at his curtain call.”James T Harding, Edinburgh Evening News

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From snowstorms to media storms, the Britain’s Got Talent roadshow swept into Edinburgh in March 2012, bringing huge audiences and the full glare of the celebrity spotlight on the Festival Theatre for the filming of the live auditions hosted by simon Cowell, alesha Dixon, amanda holden and David Walliams.

Slava’s Snowshow took Edinburgh audiences by storm, delighting and touching theatregoers and transforming sensible adults into awe-struck children. Lavished with critical praise, the award-winning show combined hilarity with stunning spectacle and breathtaking images.

Staff Standouts

“ From the epic and unexpectedly poignant scenes on stage, to the sight of the ushers having snow-fights with the clowns and the children in the audience after the show had finished, it was utterly joyful.” Katherine McMahon, Box Office Operator

“ Within 48 hours we’d turned the Festival Theatre into a giant TV studio, did two full- house recordings of judged auditions and turned it back into a theatre for the arrival of our next visiting company. it all worked like clockwork, with great feedback from Talkback Thames.” Brian Loudon, General Manager

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In a great year for ballet and contemporary dance, Les Ballets Trockadero de Monte Carlo, the cult drag ballet company affectionately known as ‘The Trocks’, had the highest attendance rates, whilst Matthew Bourne’s Nutcracker was the highest grossing dance show of the year, earning just over £309,000 at the Box Office.

Other dance highlights included a stunning season from scottish Ballet, high voltage street dance from TV stars Flawless, Northern Ballet’s enchanting family fairytale Beauty & The Beast, and a visit from the critically-acclaimed Nederlands Dans Theater 2.

Love Dance

“ As the curtain rises on Nederlands Dans Theater 2, it doesn’t take long to realise you’re in the presence of greatness.”Kelly Apter, The Scotsman

Matthew Bourne’s Nutcracker The Trocks


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We sold 500 glasses of wine During one evening performance of eiF’s Die Frau ohne Schatten

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The Festival City Theatres Trust prides itself on the success of its partnerships with national companies and leading international festivals. In the last year, scottish Opera presented an accomplished season including Intermezzo, Rigoletto, The Barber of Seville, Humperdinck’s Hansel and Gretel and The Rake’s Progress; the royal Conservatoire of scotland brought their Betrothal in a Monastery; and scottish Ballet delighted audiences with Alice and Sleeping Beauty.

In November 2011 we presented the national theatre of scotland’s much-heralded production of Men Should Weep which proved a huge hit with King’s Theatre audiences and attracted some of our biggest school group bookings ever.

Our usual programme of work by amateur companies was restricted by the King’s closure to the ever successful edinburgh Gang show, but we look forward to welcoming all our amateurs back to a refurbished King’s in Autumn 2012.

Our partnership with edinburgh international Festival continues to thrive, with both our theatres dedicated to hosting EIF shows throughout August. The Festival Theatre is now established as the venue for the opening and closing Gala performances for edinburgh international Film Festival, where an investment of £245,000 from Scottish Screen for the installation of digital cinema screening facilities ensures a state-of-the-art experience worthy of the red-carpet glamour. This year we look forward to edinburgh Jazz & Blues Festival joining our Festival partners.

Perfect Partners scottish Opera> 5 productions> 14 performances> 16,675 tickets sold

scottish Ballet> 2 productions> 12 performances> 13,363 tickets sold

national theatre of scotland > 6804 tickets sold at 8 performances> 24% of tickets sold were school groups > 1510 pupils from 52 schools saw the show

Men Should Weep

Alice

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The Trust continued its commitment to offering creative learning opportunities with an impressive programme of 48 Learning and Participation events involving a total of 4,593 people. The events included pre and post show talks, opera Unwrapped events, careers days for students, backstage tours, adult learning courses, theatre talks linked to the drama programme at the King’s, dance workshops in schools, Page to Stage events, consultation events and drama workshops.

Dance fulfils a vital role in introducing young people to the work of the Trust with the Festival Theatre playing host to performances by Telford College, and Pilrig Park School, who performed their sixth consecutive show to delighted audiences in June 2011. We have recently been awarded three years of funding from the Prince’s Foundation for Children & the Arts to participate in ‘DanceQuest’, a new project, launching in September 2012, offering dance education to over 200 Edinburgh children and we look forward to the opening of our new rehearsal studio at Potterrow, which will allow us to further develop our activity in community and outreach creative learning.

Love to Learn

Pilrig Park School

“ They get a standing ovation – and it’s absolutely deserved. it’s on those nights that you remember what the spirit of the theatre is all about.” Graham Raith, Head of Electrics on Pilrig Park School

Children watching Corstorphine Road Nativity, December 2009

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We are investing in two major projects that will see dramatic improvements made to the Festival and King’s Theatres.

In July 2012, we unveil the first phase of the King’s Theatre restoration project, which includes renovation to the fabric of the building, improved disabled access, a brand new Box Office, new carpeting and an overall enhancement to customer comfort with better ventilation, new seating in the stalls and the renamed Dress Circle and refurbished seating in parts of the Upper Circle.

The plush new seats will make a huge difference to customer comfort at the King’s, and we’re delighted to have actor simon Callow as patron of our new ‘Dedicate a Seat’ scheme. From £300, you can make your mark on a piece of Edinburgh history with a commemorative plaque on a new seat.

Our thanks to the City of edinburgh Council, historic scotland and the nancie massey Charitable trust for making possible the King’s ongoing restoration.

Over at the Festival Theatre, work started in early 2012 on a brand new rehearsal studio behind the theatre at Potterrow. The new studio will enable us to offer rehearsal facilities for visiting companies and will also become a valuable community resource, providing space for theatre and dance workshops and the activities of amateur and youth drama groups. The new studio will also have scope to be used as a performance venue throughout the year, including the festival months. The project, made possible through funding from Creative scotland, the Binks trust, the theatres’ Development Fund and private supporters, is currently on schedule for completion in Summer 2013.

investing in our theatres

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FESTIVAL THEATREREHEARSAL STUDIOThe Festival Theatre attracts some of the bestperforming arts companies in the worldbecause of its huge stage, excellent backstagefacilities and modern and spacious foyers.However, one thing the theatre currently lacksis a rehearsal studio, which makes it difficultto give touring companies the support theyneed – many companies simply have torehearse on stage which is often impracticalwhen setting up the show.

We are therefore delighted to announce thatthis winter we will begin work creating aworld-class rehearsal studio behind thetheatre at Potterrow. The new studio willenable us to offer rehearsal facilities forvisiting companies and will also become avaluable community resource, providing spacefor theatre and dance workshops and apractical space for amateur and youth dramagroups to use. The new studio will double upas a small performance venue which will bringmore opportunities for small scale productionsto tour to the capital throughout the year.

PRINCIPAL FUNDER:

TRUSTS: The Binks Trust

Cruden Foundation Ltd The Nancie Massey

Charitable Trust

CORPORATE MEMBERS:

HUGE THANKS TO ALL OUR SUPPORTERSFOR THEIR GENEROSITY

If you wish to learn more about any of ourdevelopment projects or about all the ways inwhich you can support us, please contactLucy Clement on 0131 622 8087 or visitwww.fctt.org.uk/support_us

MEDIA PARTNER:

MAKE A DONATIONEVERY PENNY COUNTS!Did you know the Festival and King's Theatresare run by a charitable trust? The costs ofrunning these two historic venues cannot becovered by ticket income alone, and we relyon the generosity of theatre lovers like you tohelp invest in and improve your local theatres.

DONATE ONLINE:www.fctt.org.uk/support_us

DONATE BY PHONE: 0131 529 6000

Preliminary artist’s impression of the new studio

Image courtesy of LD

N Architects

The Festival Theatre Rehearsal Studio development was made possible with funding from Creative Scotland,The Binks Trust, the Theatres Development Fund and private supporters. We still need help to close thefinal funding gap – if you would like to play a part visit www.fctt.org.uk/support_us

PROGRAMME SUPPORTED BY:

Potterrow


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2011/12 has proved to be an extremely successful year for the Trust both artistically and financially.

On the artistic front, we have continued to present a wide variety of high quality work including opera, classical and contemporary dance, musical theatre and drama from leading companies in the UK and overseas.

On the financial front, as the report and accounts for the year ended 31 March 2012 show, we have made a consolidated operating surplus of just over £0.25m.

This is a remarkable turnaround compared to the previous year. As a result of the economic climate, the atrocious winter weather, and disappointing ticket sales for our ambitious co-productions, we were forced to implement a significant programme of cost reductions and business restructuring which resulted in almost a quarter of our full-time employees leaving the Trust. The fact that this was successfully accomplished without any external disruption is a great credit to both our people and to the understanding and financial support of our major external funder, the City of edinburgh Council.

We entered the financial year with a robust and sustainable business model tailored to the current economic environment.

In June 2011 John Stalker decided to step down as Chief Executive of the Trust to return to producing. During his ten years with the Trust, John made an outstanding contribution and we wish him well for the future. Following John’s departure, Pat Weller joined us as Interim Chief

income expenditure

Executive and played a pivotal role in embedding the new business model and further developing the activities of the Trust. She left the Trust at the end of January with an exciting, forward-looking programme. At the beginning of the current financial year we were delighted to welcome Duncan Hendry as our new permanent Chief Executive. Duncan has an enviable track record in the arts and his knowledge and experience will prove invaluable to the Trust as we move forward.

Much has been achieved in 2011/12. However none of this would have been possible without the support, commitment and dedication of our people to whom we are extremely grateful. I would also like to express our sincere thanks to all our friends, patrons and supporters including specifically the City of edinburgh Council and Creative scotland. Finally, I would like to pay tribute to all my colleagues on the Board who give freely of their time and expertise.

The new financial year has started well. We have an exciting and varied programme; the first stage of the King’s refurbishment is nearing completion and work has started on the new rehearsal and performing space at the rear of the Festival Theatre.

We look to the future with enthusiasm and added confidence.

Chris masters Chairman

Finance Summary

Grants 19% Other

28%

Salaries & Wages

22%

Producers Fees 41%

Depts* 9%

* Marketing, Development, Education, Box Office & Group Sales Departments

Other 19%

Ticket Sales & Rentals 62%

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Year ended Year ended March 31, 2012 March 31, 2011 £ £COnsOliDateD statement OF FinanCial aCtiVities

INCOMING RESOURCES FROM GENERATED FUNDS Voluntary income grants and donations 1,269,576 1,093,377 friends/patrons/sponsorship 183,182 159,584

activities for generating funds commercial trading operation 726,592 733,248 interest receivable 4,590 3,930.00incoming resources from charitable activities operation of theatre income 4,592,388 4,599,297

TOTAL INCOMING RESOURCES 6,776,328 6,589,436

RESOURCES EXPENDED Cost of generating funds fundraising costs of grants and donations (41,368) (41,037) commercial trading activities (507,578) (657,163)

Charitable activities operation of theatre costs (6,564,072) (7,245,334) governance costs (44,950) (45,559)

TOTAL RESOURCES EXPENDED (7,157,968) (7,989,093)

NET INCOMING/(OUTGOING) RESOURCES before transfers (381,640) (1,399,657)

Defined benefit scheme actuarial gains (97,000) 112,000

NET INCOMING/(OUTGOING) RESOURCES (478,640) (1,287,657)

Fund balances at start of year 5,054,828 6,342,485

Fund balances at end of year 4,576,188 5,054,828

COnsOliDateD BalanCe sheet

FIXED ASSETS Tangible Assets 5,009,720 5,872,465

CURRENT ASSETS Stock 10,066 13,057Debtors 195,442 184,942Cash at bank & in hand 597,277 694,084

CREDITORS Amounts falling due within one year (1,024,317) (1,589,720)

NET CURRENT ASSETS/(LIABILITIES) (221,532) (697,637)

NET ASSETS excluding pension 4,788,188 5,174,828

Pension liability (212,000) (120,000)

NET ASSETS including pension 4,576,188 5,054,828

FUNDS Unrestricted - general (684,398) (934,593)Designated - pension reserve deficit (212,000) (120,000)Designated - Theatres Development Fund 575,637 343,198Restricted funds 4,896,949 5,766,223

TOTAL CHARITY FUNDS 4,576,188 5,054,828


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The summarised financial statements set out on page 13 have been extracted from the full financial statements which were approved on 6 June 2012 and do not constitute the charity’s statutory financial statements. The full financial statements have been audited and the auditors’ opinion was unqualified. The financial statements for the year ended 31 March 2012 have been delivered to the Registrar of Companies and to the Office of the Scottish Charity Regulator.

These summarised financial statements may not contain sufficient information to allow for a full understanding of the financial affairs of the Charity. For further information the full financial statements, the auditor’s report on these financial statements and the report of the directors should be consulted. Copies of the full financial statements can be obtained from Iain Ross, Director of Finance at [email protected]

Going ConcernThe directors consider the charitable company to be a going concern and the financial statements have been prepared on that basis.

Support from the core funding body has been confirmed until 31 March 2013. At the date of approval of the full annual financial statements, the Board is not aware of any reason why future core funding would not be renewed.

The future operations of the charitable company and group are dependent on the continued financial support of the core funding body, the generation of future operating surpluses to address the group’s deficit on unrestricted reserves and sufficient ongoing operating cash flow.

The Board are pleased to note that during the year, £200,000 previously utilised was repaid into the Theatres’ Development Fund (TDF) as a result of improved operating surpluses. The Board is mindful of the intended use of the TDF and anticipate that it has sufficient resources to meet expenditure on capital projects as they fall due in the coming year. The company meets its day-to-day working capital requirements through available cash resources which include receipts from advance sales and the continued utilisation of part of the TDF.

The Board has reviewed financial projections prepared by management which include revenue assumptions for ticket sales and other theatre income, together with the provision of ongoing public subsidy which the Board consider reasonable. The Board has considered the current and projected cashflow and is satisfied that the company can meet debts as they fall due for the foreseeable future.

Signed on behalf of the Board

Dr Chris masters CBeTrustee

Trustees’ Statement on Summarised Financial Statements

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We have examined the summarised financial statements for the year ended 31 March 2012 set out on page 13.

This statement is made solely to the trustees as a body in accordance with the terms of our engagement letter. Our work has been undertaken so we might state to the trustees those matters we are required to state in such a statement and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the trustees as a body, for our work, for this statement, or for the opinions we have formed.

respective responsibilities of Directors and auditors The trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for preparing the summarised financial statements in accordance with applicable United Kingdom law and the recommendations of the Charities SORP.

Our responsibility is to report to you our opinion on the consistency of the summarised financial statements with the full annual financial statements and Trustees’ Annual Report.

We also read other information contained in the summarised annual report and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summarised financial statements.

We conducted our work in accordance with Bulletin 2008/3 issued by the Auditing Practices Board.

emphasis of matter – going concern In forming our opinion on the full annual financial statements, which is not qualified, we have considered the adequacy of the going concern disclosure within the full annual financial statements which are summarised within the Trustees’ Statement on the summarised financial statements, concerning the charitable company’s ability to continue as a going concern. These conditions indicate the existence of a material uncertainty which may cast doubt about the charitable company’s ability to continue as a going concern. The financial statements do not include the adjustments that would result if the charitable company was unable to continue as a going concern.

Opinion In our opinion the summarised financial statements are consistent with the full annual financial statements and the Trustees’ Annual Report of Festival City Theatres Trust for the year ended 31 March 2012.

Chiene + Tait, Statutory Auditor61 Dublin StreetEdinburgh EH3 6NL

independent Auditors’ Statement to the Trustees of the Festival city Theatres Trust

CHAIRMAN Dr Chris Masters CBE

CHIEF EXECUTIVE John Stalker (Until June 2011)

INTERIM CHIEF EXECUTIVE Pat Weller (July 2011 – January 2012)

CHIEF EXECUTIVE DESIGNATE Duncan Hendry (January 2012 – March 2012)

BOARD OF DIRECTORS(For the period under review) Iain McLarenAndrew ShepherdJoanna BakerKate GemmellColin RossPhilip BernaysCllr Elaine AitkenCllr Deirdre BrockCllr Gordon MunroCllr Louise Lang

GENERAL MANAGER Brian Loudon

DIRECTOR OF FINANCE AND COMPANY SECRETARY Iain Ross

COMMERCIAL DIRECTOR Nick Parr

TECHNICAL MANAGER James D Clark

PRINCIPAL FUNDER City of Edinburgh Council

PROGRAMME SUPPORTED BY Creative Scotland

MEDIA PARTNER The List

CORPORATE SUPPORTERS Adam & CompanyComcabGeorge HotelInverarity One to OneLothian BusesMackie’sMicrosoftRoyal Bank of ScotlandWalter Scott Global Investments

Managed by Festival city Theatres Trust

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Telephone 0131 662 1112 Facsimile 0131 667 0744

[email protected]

PRINCIPAL PATRONSSir Tom & Lady FarmerMr Roger and Mrs Jean MillerChris & Gill Masters2 Anonymous

SUPPORTING PATRONSEwan & Christine BrownRichard & Catherine BurnsDiana, Viscountess Younger of LeckieSir Gerald & Lady ElliotKate & Gavin GemmellHamish & Alison GlenMalcolm & Avril GourlayFred & Ann JohnstonDonald & Louise MacDonaldFiona & Ian RussellAlastair & Elizabeth SalvesenBarry & Helen SealeyAndrew ShepherdJim & Isobel StrettonSarah Whitely & Graham WhyteHedley G Wright8 Anonymous

PATRONSGeoffrey & Tish AldersonWilliam and Elizabeth BerryBernard & Denise BurginThe Cameron FamilyDennis & Brenda CarmichaelDr Ann C ChandleyJohn and Jane GriffithsGeorge GwiltShields & Carol HendersonJohn & Fiona HutchinsonJames & Felicity IvoryAlan M JohnstonSir Raymond and Lady JohnstoneLesley KnoxJean MattersonChristine & Stewart MackayShelagh C MackayJim & Irene McCreadyPeter & Kirsteen MillarSir Ronald and Lady MillerWalter & Norma NimmoChristine Richard OBE & Fiona RichardBruce & Eileen RitsonJack & Shirley ShawDerek & Ann ShepherdLinda H UrquhartMrs Eileen WaddellMichael & Margaretha WalkerSir John & Lady WardJohn & Fiona Watt2 Anonymous

Festival and King's Theatres Annual Review 2011-12

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