One of the statements below contains a word used incorrectly. Choose the option which has the incorrect or inappropriate usage of the word.

The words "bard" and " barred" are used in all the sentences. A "bard" is a poet who traditionally recites epic poetry aloud; "barred" on the other hand, is a verb that means to prohibit, block or prevent access. 

We now examine each of the options individually to analyse whether the words have been used properly in the correct context. 

A. Shakespeare is sometimes referred to as a bard.
The word "bard" has been used correctly here — Shakespeare was indeed a poet.

B. He barred his soul to the preacher.
Here, barred is misused — "barred" means blocked or shut off, but the sentence intends to say he opened up or revealed his inner feelings. The correct in this case should be "bared" which means to expose or reveal. 

C. Because of his age, he was barred from entering the theatre.
Here, “barred” is properly used to mean denied entry. 

D. The Bar barred all bards.
Despite being humorous and alliterative, this sentence is still correct in terms of grammar and semantics. It is peculiar but legitimate for "The Bar" (the legal profession) to "barr" (forbid) all "bards" (poets).

Option B is the correct answer in this case.