Positive turn for Inverness arts venue as report shows Eden Court's total income for 2021/22 increased from previous year
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Total income increased by more than £2 million for Eden Court during 2021/22.
At the same time total expenditure rose by almost £3 million, according to the Inverness arts venue’s latest accounts.
Income from donations and legacies dropped for the year ended March 31, 2022, while income from charitable activities shot up along with money from other trading activities.
It meant total income for 2021/22 was £6,693,833, up from £4,385,262 for the year before. For the same period, total expenditure increased from £3,837,878 to £6,658,826.
Its total funds carried forward rose from £12,708,911 to £13,359,789.
The average number of employees increased from 85 in 2020/21 to 86 in 2021/22, while staff costs increased from £2,218,841 to £2,491,751.
Since then it has made a number of redundancies and reduced its operating hours in response to the cost-of-living crisis.
In November 2021, James Mackenzie-Blackman left Eden Court to become chief executive of Theatre Royal Plymouth. From that point to March 2022, Bryan Beattie acted as interim chief executive, with Rebecca Holt joining as new chief executive at the end of March 2022.
Aiming to inspire people to discover and love the arts, the impact of the pandemic continued to be felt throughout 2020/21 as restrictions remained in place on theatre venues for much of the year.
A trustees report accompanying the firm’s latest accounts stated: “There were restrictions on indoor performances until September 2021 and then again for a period from mid-December 2021.
“This meant that presenting live theatre was either entirely restricted or not financially viable due to reduced capacities. However, Eden Court Highlands continued to deliver for the region despite these limitations – engaging with audiences of all ages across all art forms, while remaining within the government and local authority’s Covid-19 guidelines.
“Eden Court would like to extend sincere thanks to Creative Scotland for their significant financial support throughout 2021/22 through the culture organisations and venues recovery fund.
“In addition, thanks go to the Highland Council, and the many funders and individuals who supported the organisation during this challenging period.”
Highlights during the year included the presentation of large-scale touring shows Chicago and 9-5 The Musical, which collectively sold almost 10,000 tickets becoming the venue’s highest grossing shows in the last five years, excluding panto.
Its rescheduled 2020 panto Cinderella “had sold amazingly well but the difficult decision was taken to close on Christmas Eve, given the renewed indoor capacity restrictions in Scotland over Christmas and into January 2022”.
The outdoor festival Under Canvas also proved a huge success.
Meanwhile, accounts for the charity’s trading through its restaurant, café and bars, plus sales of confectionery, show merchandise and other events – registered as Eden Court Trading – showed turnover increased from £114,256 in 2020/21 to £897,709 for the year after, while pre-tax profit rose from £53,708 to £225,322.
Trustees also reported a surplus of £105,000 for 2021/22 derived from organising online and socially distanced jury services in the OneTouch Theatre.
The report stated: “This activity stopped in January 2022. Due to the uncertainties faced during the year, management recharges from Eden Court Highlands to Eden Court Trading have been suspended this year and staff costs have only been recharged from October 2021 onwards.
“In addition to prudent cost management, our financial strategy for the coming year, as we steer our way out of the pandemic, involves the continued development of relationships with funders, both public organisations and individual philanthropists, in order to provide financial support towards delivery of our artistic and engagement programmes.
“In the meantime, reserves will be applied to support the organisation through this phase in its development and, if needed, we will continue to do all we can to further reduce costs without impacting on our relationship with artists and audiences.”
