TEN years on since it opened its doors to the public, the annual accounts of the Eastgate Theatre and Arts Centre in Peebles reveal that it cut its trading deficit in 2013/14.

In the 12 months to March 31, the charitable trust which runs the facility has reported income of £470,852 against total expenditure of £474,272 – a loss of £3,420.

When a write-down of £12,583 for “asset depreciation” in included, the total deficit last year was £16,003 – compared to a loss of £35,000 in 2012/13.

Signed off last week and lodged at Company’s House, the accounts show there was a healthy increase in sales generated by the Eastgate bar and café – up to £117,943 from £99,908 the previous year.

But income from the sale of tickets and the hire of the facilities fell from £198,453 to £177,943 while “management and administration costs” rose from £60,994 to £65,003.

The report acknowledges the continued key role of volunteers who contributed an estimated 5,000 hours – worth £35,000 – to supplement the efforts of the eight staff who are employed at the Eastgate.

“The use of volunteers in the day-to-day running of trading activities and production assistance has been invaluable,” says trustee Hugh Seymour in his notes to the accounts.

“The board of trustees recognises the hard work of both volunteers and employees and is grateful for the dedication of all those involved. The board and employees are working very hard to increase attendances while containing expenditure at a viable level.” Mr Seymour stresses the importance of the core funding received by the charitable organisation from Scottish Borders Council. This has been pegged at £90,000 a year since 2008 and is assured for at least the current financial year.

“Planning ahead is challenging in the current financial climate where the charity is dependent on core funding from local government,” states Mr Seymour.

“In that climate, a guarantee of future core funding for a further year cannot be obtained in advance – the charity’s survival is very much dependent on this funding.” SBC is due to consider its future funding for the Eastgate during its budget deliberations which will be finalised in February next year.