The Festival and King’s Theatres are delighted to report another excellent year artistically and financially, during which they have eliminated an accumulated deficit ahead of schedule and moved into the black.
The deficit, which stood at £935,000 in March 2011 was expected to be cleared by March 2016. However the Trust, which operates both venues, has now cleared the deficit and ended the last financial year with a surplus of £172,000 which will be carried forward as reserves into 2015/16.
During the course of the year the Trust has worked with international and national theatre companies alongside local amateur groups to bring the best possible programme to its stages of the Festival Theatre, the King’s and the Studio at the Festival Theatre. In 2014/15, the Trust celebrated 20 years of the Festival Theatre and was recognised with two major accolades as an employer receiving Investors in People Silver status and inclusion in The Sunday Times’ list of the 100 Best Not-for-Profit Companies to work for.
Chief Executive Duncan Hendry said, “The successes of the year past have been made possible by the support of our Board and the hard work and dedication of the extraordinarily talented team of people who work in our theatres.”
The annual review for 2014/15 marks a celebration of a successful financial year. Festival and King’s Theatres are grateful for continued support.
The annual review can be viewed online here: www.edtheatres.com/about