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Post by mouseinthetheatre on Mar 5, 2023 16:04:08 GMT
Very very strange. as said above no explanation at all for the immediacy of the closure. Y/E 2020 accounts state a cash reserve of £650k, and the theatre was closed that year. Y/E 2021 accounts are due to be published in next 3 weeks so perhaps they'll show something??? And indeed they have been published. " We end the year with reserves of £716,570" so a healthy sum. In section entitled "Plans for future periods" we're told: " In August 2022, the two railway arches were closed and completely stripped out for a high priority Network Rail safety inspection and repairs.
It was not financially viable to return, refit and continue operating from the arches, which were not fit for purpose because of the increased train noise, high rent and draconian terms of the lease.
The benefactors have committed to future funding in a new venue subject to a feasible business plan. The search for a new venue is ongoing. All fixtures and fittings have been stored and it is planned that Above The Stag will carry out some productions in 2023 in third party theatres. The Charity remains solvent and is a going concern." Although this last sentence is contradicted by a note at the end of the accounts: " At the time of signing the financial statements there is material uncertainty relating to events that may cast significant doubt on the charity's ability to continue as a going concern."
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Post by n1david on Mar 5, 2023 16:42:12 GMT
Thanks for finding this!
I guess it became an urgent Network Rail inspection, but I'd have thought if NR forced work then ATS would have been due compensation for lost revenue and costs involved with the clearout and refit. So I do wonder whether the terms of the lease and rent remain the most significant issue. Although none of this really ties in with their statement in August saying that the safety inspection was "in the next six months" and that their landlord had been "very understanding and supportive".
I forgot to mention it here when I got the email, but they're doing a Eurovision-themed show at a venue called Wonderville in Haymarket, near Piccadilly Circus. ATS are also doing their own panto at Wonderville in competition with their former partners who are doing the one at Charing Cross Theatre mentioned above.
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Post by woobl on Mar 6, 2023 11:05:00 GMT
Thanks for finding this! I guess it became an urgent Network Rail inspection, but I'd have thought if NR forced work then ATS would have been due compensation for lost revenue and costs involved with the clearout and refit. So I do wonder whether the terms of the lease and rent remain the most significant issue. Although none of this really ties in with their statement in August saying that the safety inspection was "in the next six months" and that their landlord had been "very understanding and supportive". I forgot to mention it here when I got the email, but they're doing a Eurovision-themed show at a venue called Wonderville in Haymarket, near Piccadilly Circus. ATS are also doing their own panto at Wonderville in competition with their former partners who are doing the one at Charing Cross Theatre mentioned above. Yes it's all a little confusing. I don't think there was any mention of an inspection when they closed? Regarding their Wonderville shows, I think it's a completely different creative team, as it appears the Charing Cross panto has got all the team from the ATS pantos back in the day. I think Wonderville is a more cabaret style venue, so will be interesting to see the differences. Have booked for both!
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Post by n1david on Mar 6, 2023 12:07:11 GMT
I don't think there was any mention of an inspection when they closed? It was mentioned in their statement on August 9th, but that suggested it would take place in the following six months, whereas the statement in the accounts that mouseinthetheatre found suggests that the inspection took place that month. From August 9 statement reported in full above by alece10
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