Kenton Theatre Announces Annual Accounts for 2023-2024: A Year of Stabilisation and Growth

Kenton Theatre Announces Annual Accounts for 2023-2024: A Year of Stabilisation and Growth

The Kenton Theatre is pleased to announce the publication of its annual accounts for the period from 1 September 2023 to 31 August 2024. Despite a challenging year, the Trustees are confident that the theatre has turned a corner and is on track to achieve financial stability in the near future.

The results reflect the efforts of the newly refreshed Board, which came into effect in August 2023, and the relatively new Theatre Manager. Together, they have implemented a range of joint initiatives aimed at stabilising the business including cost-cutting measures, investments in infrastructure, restructuring staff, improved financial monitoring, enhanced programming, streamlined processes and a focus on fundraising.

Key achievements over the past year include:
• Securing a 20-year low-interest loan of £100,000 from Henley Town Council to facilitate cash flow.
• Hosting several fundraising events and securing funding for key projects.
• Achieving a £20,000 grant from Henley Town Council.
• Outsourcing the accounts function to ensure consistency, depth of knowledge and rigor.
• A redesign of the brand identity to improve modernity and application flexibility.
• The relaunch of the website to enhance marketing effectiveness and facilitate online bookings, including mobile compatibility.
• The introduction of an Event Booking System to streamline operations.
• Expanding office space to include three new desks.
• Launching improved programming, including community-focused initiatives like Kenton Carols and ongoing support for local community groups.
• Providing the first grant from the newly created Community Fund, which went to The Chiltern Centre, supporting underrepresented groups in the arts.

These efforts have contributed to a significant improvement in the theatre’s financial health. Total revenues for the 2023-2024 accounting year amounted to £718,000, representing a 30% year-on-year increase. The theatre hosted 111 productions with 252 performances, a 12% increase from the previous year, and saw a 13% increase in ticket sales, with a total of 29,226 tickets sold.

While the theatre incurred a loss of £30,000 in 2023-2024, this is a significant reduction from the £165,000 loss in the 2022-2023 period. The Board is aiming for a break-even position in 2024-2025.

The theatre’s dedicated team of volunteers remains integral to its success. The theatre currently has a pool of 145 volunteers – a 40% increase from the previous year. The Board is deeply grateful for their ongoing contributions and The Kenton will continue to recruit and develop volunteers as they are essential to its continued growth.

“We are incredibly proud of the progress we’ve made this year,” said Lottie Pheasant, Theatre Manager. “The efforts of our operational team, the hard work of our volunteers, and the strategic direction set by our Board of Trustees have truly paid off. We are excited about the future and the many opportunities ahead.”

“I would like to thank our operational team, especially our Theatre Manager, who have all worked tirelessly to improve and restore The Kenton, and to my Board of Trustees whose input and commitment has been invaluable,” said Tara Macleod, Chair of the Board of Trustees. “Looking ahead, we aim to achieve financial sustainability by refining our programming, enhancing audience engagement, and optimising pricing. We will continue our active fundraising efforts and pursue grants and we are also excited to announce new income streams in the near future that will further support our growth.”