2024-03-31-accounts

OSE THEA TRE KINGSTON THEATRE TRUST and its subsidiary undertaking A company limited by guarantee Company No: 02497984 Registered Charity: 1000182 CONSOLIDATED REPORT & FINANCIAL STATEMENTS for the period ended 31 March 2024 Poge I

Kingston Theatre Trust and its subsidiary undertaking CONSOLIDATED REPORT & FINANCIAL STATEMENTS for the period ended 31 March 2024 INDEX Legal & Administrative information Pages3-4 Trustee5' Report Pages 5 - 15 Auditors, Report Pages 16- 20 Consolidated Statement of Financial Acttvities Page 21 Balance Sheets (consolidated and company Page 22 Statement of Cash Flow5 Page 23 Note5 to the financial Statements Iconsolidated and company) Page5 24- 45 Page 2

Kingston Theatre Trust and its subsidiary undertaking LEGAL & ADMINISTRATIVE INFORMATION CONSTITUTION Kingston Theatre Trust is a company limtted by guarantee and a registered charity governed by its Memorandum & Articles. TRUSTEES/DIREcfoRS Sian Alexander Jonathan Church (appointed 5 November 2024) Emma D'souza (resigned 6 June 2024) Kevin Davis Simon Edwards Chris Foy (resigned 15 November 20231 Loui53 Green {appointed 7 October 20241 Rubi Gubara-sannie {appointed 18 September 20231 Catriona Guthrie {appointed 5 November 2024) Yasmin Shahid Hafesji Baroness Sally Hamwee (resigned 4 July 2023) Radhika Kapur (appointed 5 September 2023) Justina Jang Councillor Mike Massimi Robert O'Dowd Gary Pell {appointed 5 September 2023) William Pri￿ (Chairl Rebecca Quigley {appointed 4 July 2023, resigned 5 March 2024) Councillor Wydeeswaran Thayalan Elizabeth Wilkinson {appointed 5 September 2023) SECRETARY Simon Edwards 24-26 High Street Kingston upon Thames KTI IHL CHIEF EXECUTIVE Robert O'Dowd Poge 3

Kingston Theatre Trust and its subsidiary undertaking LEGAL & ADMINISTRATIVE INFORMATION AUDITORS Moore {Southl LLP Registered Auditors and Chartered Accountant5 Suite 3, Second Floor Friary Court 13-21 High Street Guildford Surrey GUI 3DG BANKERS Charities Aid Foundation West Malling Kent ME19 4TA Natwest Bank plc Market Place Kingston upon Thame5 Kti Lix Metro Bank plc 64-66 Clarence Street Kingston UPK)n Thames ri INP SOLICITORS Russell-cooke LLP 2 Putney Hill London SW15 6AB REGISTERED OFFICE 24-26 High Street Kingston upon Thames IIHL REGISTERED CO. NUMBER REGisfERED CHARITY NO. 02497984 1000182 Poge 4

Kingston Theatre Trust and its subsidiary undertaking TRUSTEES. ANNUAL REPORT for the period ended 31 March 2024 The Trustees submit their report and the consolidated financial statements for the period ended 31 March 2024. Legal & administrative information set out on pages 3 and 4 forms part of this report. The financial statements comply with current statutory requirements, the Memorandum and Articles of Association. and the Statement of Recommended Practice - Accounting and Reporting by Charities ISORP IFRS102) second edition). The directors of the charitable company (the chartty) are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. STRUCTURE. GOVERNANCE & MANAGEMENT Governin document: Kingston Theatre Trust is a company limited by guarantee governed by its Memorandum and Articles of Association dated l May 1990 as amended in 1992. 2001. 2002, 2010 and 2022. It is registered as a charity with the Charity Commission. Anyone overthe age of 18 may be appointed a member of the Company and there were 14 members at the period end (12 in 2023), each of whom guarantee to contribute £1 in the event of the charity winding up. ROSE THEATRE ENTERPRISES LTD is a wholly owned subsidiary of Kingston Theatre Trust. The company donates its surplus funds to Kingston Theatre Trust. ointment of trustees-. Trustees are appointed by the Board. The Royal Borough of Kingston upon Thames Council <-RBK") may nominate up to two trustees. Ouring the year under review, trustees nominated by RBK were Councillor Mike Massimi and th Councillor Wydeeswaran Thayalan. The Articles were amended by Special Resolution on 6 September 2022, with the effect of limiting the overall periods of service. normallyto elght years for all trustees, togetherwith a series of transitional arrangements to avoid the sudden loss of experience and corporate memory: and exceptionally, where determined in the best interests of the theatre. Trustees provide their time and expertise without remuneration forthe benefit of the charity. except forthe Chief Executive. RobertO'Dowd. Candidates for appointment andthose being re-appointed are subject to relevant DBS checks. Trustees, induction & trainin New Trustees are provided with relevant information about their legal obligations under charity and company law. a copy of the Memorandum & Articles of Association. Induttion of those appointed includes an introduction to the theatre's a£￿ed strategy, organi5ation structure and Board committees, together with detailed attivity and business plans current financial forecasts, management and financial accounts. Dr anisation: The Board meets at least six times each year to manage the affairs of the charity and oversee its administration, which 15 delegated on a day-to-day basis to the Trust's executive team. The Board appoints committees as 2nd when the need arises. The Finance Committee monitors the affairs of the charity between full Board meetings. The Development Committee and the Nominations Committee are the two other Board committees approved at this time. Poge 5

Kingston Theatre Trust and its subsidiary undertaking TRUSTEES, ANNUAL REPORT for the period ended 31 March 2024 STRucfuRE. GOVERNANCE & MANAGEMENT (Continued) Re13ted arties: The charity has a close relationship with RBK which may nominate up to two Trustees (see above). In February 2020 and following earlierforms of support, RBK and KTh entered a new long-term strategic agreement under which the theatre creates and manages a wide range of initiatives in social, civic and learning engagement in cultural experience: towards the increased well-being of citizens and communities throughout the borough. The borough provides defined financial support in each year of the five years covered by the agreement. A new agreement will to be in place for April 2025. The charity also has a close relationship wrth Kingston University {KUI. In January 2012, following earlier forms of support, KU agreed to provide annual funding of £300k with an understanding of rollinE process to follow. KU a150 gave £80k per annum to enable its Kingston School of Art to engage more closelywith the Rose The3tre. During the pandemic, the reEular cycle of funding to the Rose was paused and restarted from January 2022 by reference to a range of theatre aC￿sS and other mutually beneficial arrangements, and engagement5 Qn the part of Rose member5 in support of the University's Strategy, particularly in the provision of skills, development. The level of funding is agreed for each University financial year (August to September) based on agreed deliverables. Risk mana ement: The officers undertake a risk analysis review each year and maintain an up-to-date risk register to identify appropriate action to mitigate these risks. The Board considers the register and proposed mitigation measures. Generally, the principal risks relate to income- the achievement of tarEets for box office and development support, and the maintenance of stakeholder relationship confidence and support. The re-building of audiences post- pandemic has proved a greater challenge than the new freedom suggested; together with its implications for re- building box ofFice income. Fundraisin Activities- The charity has registered with the Fundraising Regulator and adheres to thevoluntarycode of Fundraising Practice to give i ndividual and organisational donors confidence that it is following best practice with regards to conducting fundraising activities and managing relationships with supporters. The charity is registered with the Fundraising Preference Service and monitors its performance to ensure awareness of any complaints made under the scheme. No complaints have been received within the reporting period. The charity does not currently use professional fundraisers or commercial participators. Auditors: The auditor5, Moore {Southl LLP, have indicated their willingness to be proposed for re-election. Poge 6

Ifingston Theatre Trust and its subsidiary undertaklng TRUSTEES, ANNUAL REPORT for the period ended 31 March 2024 AIMS, OBJECTIVES & ACTlliiTIES The objects of the charity are to advance the education of the public in all aspects of dramatic art and the public appreciation of such art by the presentation of public perf0mlan￿S in the fields of drama, music, dance. other performance and visual arts, crafts and other such activities. The objects of the subsidiary are to carry out non- charitable activities at the Rose Theatre and beyond to produce surpluses for the benefit of the charity. The activitie5 of the theatre during the reporting period were primarily concerned with progressive upscaling of operations Ino longer restricted) and re-animation of the artistic programme. The skill of the Executive in navigating all the risk5 of the pandemic period meant that the organisation was able to build on operational capability. Its principal objective5 remain- The presentation of a vaTied programme of plays and other performances. including one-night events at the Rose Theatre for the benefit of the public. Workingwith RBKto develop the Rose as a cornmunity hub, including progrdmme5 of activities forthe benefft of the local community, In particular young people induding opportunities for a wide range of social. artistic and educational actNities: Collaborating and working closely with KU on the development of relevant programmes and appropriate skills modules for the benefit of students and faculty- Providing training in theatre arts for children and young people through the Rose Youth Theatre; Providing space and facilities in the theatre for a range of university events including graduation ceremonies for the benefit of students and their families and friends,- Offering a range of programmes designed to develop confidence in the use of performance, for the benefit of people of all ages in the local community and beyond; Providing opportunities for exhibitions of art for the benefit of people visiting the Rose Theatre; Explorting the commercial potential of the theatre buildTng for the direct benefit of the theatre's charitable purposes, in ways congruent with the Charity Commission guidelines. The trustees confirm that they have referred to the Charity Commission's guidance on Charities and Public Benefit when reviewing the charivs aims and objectives. Page 7

Kingston Theatre Trust and its subsidiary undertaking TRUSTEES, ANNUAL REPORT for the period ended 31 March 2024 ACHIEVEMENTS & PERFORMANCE This report covers the period 2 April 2023 to 31 March 2024. but also addresses matters after the period to be timely with the publication date. 117,245 tickets were sold for live theatre performances and one-night events. In addition to the productions, certain artistic, educational, community and social events took place in the Rose Theatre. The continuing, overriding purpose of the Rose Theatre 15 its role as a distinctive, leading producing theatre a cultural hub for Kingston and wider SW London. It seeks continuously to develop a range of audiences by imaginative. high-quality programming of engaging drama and entertaining family shows. maintaining high production values and seeking to stimulate both anticipation and satisfaction. The Rose is widely recognised, amongst both audiences and the sector, for the quality of our work on stage. This ambition will continue to guide our work. We attract leading creatives to work on our own produrtions and work in co-operation with selected other theatres on co-prodLJCtions that extend our repertoire. This approach help5 to mitigate risk entailed by novel production5 and programming constraints. The programme is also enriched with production5 of high artistic quality by acclaimed visiting companies and complemented by one-night performances and events. During the period under review, we sta8ed the following Rose Original Produrtions, RICHARD111- by William Shakespeare. directed by Adjoa Andoh. Lead produced by the Rose Theatre in partnership with Liverpool Everyman Theatre. The Show toured to partner venues in April and May 2023. SHOOTING HEDDA GABLER after Henrik Ibsen, adapted by Nina SeE31 and directed by Jeff James. A VIEW FROM THE BRIDGE- written by Arthur Miller and directed by Holly Race Roughan. A Rose Original, Headlong, Chichester Festival Thoatre and Octagon Theatre production. PETER PAN- adapted by Evan Placey and directed by Lucy Morrell. Our family Christmas show featuring professional actors as well as 40 members of the Rose Young Company. THE BOY AT THE BACK OF THE CLASS- written by Onjali Q Rauf, adapted by Nick Ahad and directed by Monique Touko. A Rose Theatre Production with The Children's Theatre Partnership. The show toured to 14 venues throughout the Spring, with a total audience of over 66,000 MACBETH (AN UNDOING)- after William Shakespeare, adapted and direrted by Zinnie Harris, presented in association with Rose Theatre & Theatre ft)r a New Audience by Royal Lyceum Edinburgh. Visiting companies included- THE SMED5 & THE SMOOS- presented byTall Stories LORD OF THE FLIES- presented by Leeds Playhouse. WUTHERING HEIGHTS- presented by Inspector Sands. HEY DUGGEE- presented by Cuffe & Taylor with Kenny Wax Family Entertainment. ZOG - presented by Freckle Productions and Rose Theatre. FIREMAN SAM SAVES THE CIRCUS- presented by MarkThompson Productions Ltd BLIPPI-THE WONDERFUL WORLD TOUR- presented by Carter Dixon McGill Family Ltd THE GRUFFALO'S CHILD-written byJulia Donaldson and Axel Scheffler. presented by Tall 5torie5, Poge 8

Kingston Theatre Trust and it5 subsidiary undertaking TRUSTEES'ANNUAL REPORT for the period ended 31 March 2024 ACHIEVEMENTS & PERFORMANCE (Continued) In addition. over 30 one-night events took place including comedyfrom Adam Kay, Rob Brydon and Ed Byrne, rnusic from Fascinating Aida and The Ukelele Orchestra of Great Britain as well as community and commercial hires and a variety of speakers including Dame Joan Collins and Steve Backshall. Our programme of activity for the benefit of young people and others in the local community known as Rose Participate continued to flourish. We now have 1.26312023 - 1.0331 individuals within the community directly engaged with the Rose and stage performan￿. The deep and enduring relationship with RBK remains lively and productive. underpinned by a five-year strategic agreement. The relationship with KU also continues warmly. de5Plte the difficulties challengingthe whole university sector. The current strategic partnership agreement with RBK expre55es ambitious and practical interdependence in the cultural space across the borough - and in its impact, well beyond. receives defined financial support in each year through to 2025 and both partFes anticipate renewal of the next agreement in good time. Regular review of performance and benefits. directed to many constituencies in the borough, is maintained by Offi￿rS of RBK and Icrt. These include an education and participation programme foryoung people and children, theticketing scheme, libraries outreach work, Kingston M usic Service perf0rrnan￿ opportunities and schools, outreach. In the setting of its valued relationship with KU the Rose works across many faculties, engaging creatively with the Universi￿5 Skills, agenda and serving as a civic portal reinforcing the Universiws involvement with a wider community. The next stage of broader Strategic partnership between KU and the Rose is now anticipated. The relationships that the Rose has with each of its two stakeholder organi5ations enable activities for the benefit of large numbers of people of all ages across the borough and the University. The impact of very significantgains delivered pre-pandemicto the local econoniy outside the Rose itself -forwhich independent evidence was shared with R8K- are being reonabled again. Since the restrictions occasioned by the pandemlc were lifted it has been possible for the theatre to throw open both its doors and its welcometo established and new audiences: and to people of the town throughout the day in its refurbished and stylish café. The challengeswitched from beingexistential during the pandemicto being creative and inspiring under post pandemic conditions. The evidence from the year in review is that the lifting of restrictions continues to affect audience numbers. The rebuilding of confidence and the Rose'5 attractiveness in the minds of regular theatre attendees remains as work in progress and certainly has not bounced back to pre-2019 levels. The Rose, as widely experienced acioss the Sector, must convince its audiences with the power and distinctiveness of its progratnming. The development of the Rosgs ability to reach new as well as traditional audiences will continue to be a focus for programme development and communications. Puge 9

Ingston Theatre Trust and its subsidiary undertaking TRUSTEES. ANNUAL REPORT for the period ended 31 March 2024 PLANS FOR FUTURE PERIODS The Executive and staff are working intensively to re-build audience Confiden￿ and engagement. The theatre's appeal is expressed through the quality of its artistic programme, amplrfied by mean5 of the quality of its marketing and communications. To remain financially sustainable we have dramatically shifted our business model in recent years- We have increased our producing focus on family work. Instead of being primarily a receiving house for these shows, we are now lead-producing them ourselves which increases our share of box office revenue and provides u5 With longer term royalties when the shows go on tour. We are leaning very heavily into co-producing every adult drama we make drawing together two, three or more partners to share capitalisation costs. This sharing of costs means that shows can Still make a sign ificant financial contribution despite reduced box office takings. We have shifted our programming focus to titles that can draw in both a significant schools, audience (as they are on the syllabus), and still attract an adult audience. We leverage commercial investment and enhancement against specific shows. Theatre Tax Relief {TtRI underwrites theatrical production within the UK and we continue to manage this incentive efficiently and keep pace with any changes to the scheme. We invest in channels that build audiences, including new web and print resources 35 well as being at the forefront of the digitalisation of UK theatres, kickstarted by our funding from Innovate UK. In response to the c05t-of-living crisis and to expand audiences we are initiating more afft)rdable ticket pricing £25 for roughly 80% of all seats for Rose Originals Isubsidised and £S tickets available to taTget groups}. We are also acttvely targeting premium seats to high-value customers. The aim is to build on our development fundraising activities alongside the critical contributions of our stakeholders to give us confidence to take manageable risk. whi15t strengthening box oflice income. If this can be achieved, the Rose will be able to build reserves, carry out essential maintenance and reward the loyal and committed staff in a sustainable manner. The Rose is committed to the full range of civic, social and learning cultural engagement within the borough,. and extending the range of its relationship across all relevant KU faculties and departments. Additionally, we are reviewing our education offering to complement learning alongside our main house shows. The Rose enjoys significant support from key trusts and foundations including The Gosling Foundation. In addition, Backstage Trust has extended it5 Outstanding SUPPOrt for the Rose not only in respect of the public spaces and café, but also further chapter of renewal and improvement ofthe main house itself and fundraising resourcing. The rel lability of the support provided by the theatre's two principal stakeholders remains central to all operational planni ng. The robustness of operational planning remains challenging in an uncertain environment where economic and political uncertainties abound. Accordingly, the close monitorinE of operational plans which 15 mai ntained by key directors, the Finance Committee. and the full Board continue, to ensure that action can be taken as appropriate. The recently strengthened management of the Rose 15 a team of high quality, ar)d it continues to demonstrate in full the capacityto manage and navigate the challenges and opportunitie5 presented by the circumstances through which the Company, the sector and the country are living. Poge 10

Kingston Theatre Trust and its subsidiary undertaking TRUSTEES, ANNUAL REPORT for the period ended 31 March 2024 SUPPORTERS The Trust is very grateful to all those who have provided support for the Rose Theatre whether financial or in offering their time and skills as unpaid volunteer5. During the year there were 146 (2023- 112) volunteers for which no income or cost is recognised in the accounts. Major financial support has been provided bythe following individuals and organisations: Stakeholders n8Ston University Royal Borough of Kingston Silver contd Simon &Wanda Higman David & Julie Lainchbury JeanettÈ Rowell Sir Peter & Lady Cherill Scott Marji Simonds-Gooding Bob Steed Llfe Friends lan & Wendelien Bellinger Will Bland & Tricia Welch Bland Founding Sponsor CNM Estates Supporters Lipmann Walton & Co Ltd Rose Membership5 And all those who wish to remain anonymous Lottery Funder Arts Council England Palron5 Michael & Rosemary Bibby Stephen Brenninkmeijer Mark Chester & Clare Lumley Alex Chisolm Andrew Connolly Nigel Duffin Simon & Pauline Edwards Kay Galbraith Andrew & Maggie Gallagher Sanjeev. Rachel. Jai & Anjali Gupta Mark & Sophie Lewisohn Anthony Lipmann Ann Beasley Manders Martina Massimi Klimowa Robert & Scilla O'Dowd Bob Phillips & Anna Cunnyngham lan & Mary Reid Education Partner Kingston Grammar School Trusts & Foundatlons The Backstage Trust C￿kayne Grènts for the Arts The Gosling Foundation The JectU5 CharitableTrust The Linder Foundation The Noel Coward Foundation The Rose Foundation Rowan Bentall Charitable Trust Corporate Supporters Cattaneo Commercial Clear Group Cote DNB Hache Hampton5 Ocean Basket Pearson Hards Sticks n Sushi The Rolex Mentor & Protegé Arts Initiative Rus5ell_Cooke platinum Chris & Sao Foy Jonathan Marsh & Stephanie Taylor- Marsh Marit Mohn & Robert Westlake Neill & Katharine Penney The Wingfield Family Associates John Hackett Nigel Hardy Brian Hornsby Geoff Howard John & Martha Jessop Bill & Christine Mcmurray Nina Kaye Susan Paine Brian Smith David Tallis Pete Whelpton Gold Tony & Kate Best chri5 Ma50n and Mel Delauney Luke & Kate Nunneley Silver Jennie Drimmer & Daniel Kline Sandy Gavshon Puge 11

Kingston Theatre Trust and its subsidiary undertaking TRUSTEES'ANNUAL REPORT for the period ended 31 March 2024 FINANCIAL REVIEW The annexed Statement of Financial Activities details the financial performance for the year, indicating a decrease in incoming resources from £4,154,696 in 2023 to £3,929.197 in 2024. Income from donations and legacies showed a positive trend, with unrestricted donations increasing by 24Yo and restricted grants and donations rising by 120A. Significant contributions include: The Backstage Trust: Continued support with grant5 amounting to £36,800 for fundraising consultancy. The Gosling Foundation: Awarded £125.000 dedicated to youth engagement programs. Innovate UK: Secured £50,000 for the digitalisation of UK theatres project. Individual Donations: Additional funding was re￿iVed for outreach and access initiatives. There was a 12% year-on-year docline in box office revenue, with ticket sales dropping by 7%. Thi5 trend 15 consistent with other comparable venues. particularly in the adult drama Segment. However, there has been growth in the family audience segment, driven by strategic partnership5 and the successful touring of family show5 within the fiscal year. Total resources expended have decreased from £4,145,154 to £4,124,725. By co-producing we were able to share the costs of production and make use of enhanced budgets to work with toptier artists and creative teams. Running costs for the venue have escalated, primarily due to inflation and significant hikes in utility expenses although some of this was mitigated by forward fixed contracts. Net outgoing funds for the period are £195,52812023- net incomtng funds £9.5421. Investment owers and olic Under the memorandum and articles of association, the charity has the power to make any investment that the Trustees see fit. GOING CONCERN Determination of the theatre's 'goin8 concern. status 15 subject to careful review by the Board each year focussing upon the availability and use of resources to further its charitable artistic. educational and community purposes. The policy through the pandemic was to pursue all possible means to secure the theatre's future. The policy since has been to communicate our distinctive producing capacity. apply keen and agile operational planning around it and ensure effective control of costs. The theatre. as usual. is in the proces5 of securing its own future in challenging times. The economic model of the Rose normally balances the costs of its operations by income from box office, development fund raising including grants from trusts and foundations, and dependable fundinE from its two founding stakeholders. Page 12

Kingston Theatre Trust and its subsidiary undertaking TRUSTEES, ANNUAL REPORT for the period ended 31 March 2024 GOING CONCERN (Continued) The principal challenge in the period of this report concerns box office income trends. The strategic aim remains the progressive re-building of our established audiences as well as new audiences. Irs a challenge throughout the sector but we alone are responsible for our condition. Together with the reliable funding streams from the two founding stakeholders. the Royal Borough of Kingston, and Kingston University, these represent the bedrock of financial sustainability. The current strategic agreement between RBK and the theatre runs to March 2025. It expresses a vital creative partnership. The theatre, in its mission as a cultural hub. will continue to engage in a wide range of social, community. support and learning measures directed to increased well-being and enhanced cultural participation directed to the benefit of citizens across the borough. The borough continues to provide defined levels of financial supportto in each year of the agreement, contributingto the resilience and economicsustainability of the Rose theatre. This long-term agreement represents a pillar of stakeholdersupport and an ongoing anchorof thetheatre's economic model. The charity also maintains its very close relationship with KU. its otherfounding stakeholder. The funding provided under the service agreement was e5tabli5hed in January 2012. Although paused during the pandemic, regular payment was restarted in January 2022, reflecting the restart of mutually beneficial engagement discussed earlier. The University provides slgnificant and fundamental financial sUPPOrt to the Rose theatre each year and the Vice- Chancellor confirms in writing the fact of the Universiws commitment. Development fundraising, which together with the othertwo pillars of the theatre's economy is crucially important for overall financial resilience, is dependent upon audience experience of and confidence in the quality of the stream of our main stage work. Steps have been taken in this reporting period to strengthen the Rose's ability to generate greater funding from trusts. foundations. individual donors and other methods. The outstsndinE 5UPPOrt of the Backstage Trust and The Gosling Foundation in awarding grants demonstrate an exemplary confidence in the theatre's future success. The Board's appraisal of the going concern condition has assumed progressive re-buildinE of main house audiences for our own drama productions, our seasonal family focussed productions. complementary selected visiting shows; and commercially valuable, one-night shows- associated support through development fundraisinE: and the continuing support of our two principal stakeholders. The trustees have reviewed the financial condition of the theatre. wtth particular attention on the assumptions underpinning the revised plans through financial year 2024125 and in the longer-term plan. Planning Includes projections of future income streams- box office receipts, stakeholder support, donations, and grants. Less p051tive scenarios have been considered and a balance of jlsdgement struck as to the likelihood of outcomes and the theatre's resilience to re-build audience attendance. Trustees are confident that the theatre will be equipped to operate across the ran£e of its many activities, achieving progressively a sustainable balance betweencombined incomestreams andthe overall costsof planned operations. Poge 13

Kingston Theatre Trust and its subsidiary undertaking TRUSTEES, ANNUAL REPORT for the period ended 31 March 2024 GOING CONCERN (Continued) The trustees consider that while material uncertainty exists, which may cause some doubt in respect of going concern, their balance of judgement 15 that the going concern basi5 is appropriate for the preparation of the financial statements. Re5erve5 Poli The trust has £1,302,279 of funds at the end of the period comprising £733.828 of unrestricted general funds and £568,451 of restricted funds. After making allowances for restricted funds and those resources designated for tangible fixed asset5 that are not realisable. the free reserves of the trust are in deficit by £545,298. Within restricted funds, £491,425 is capital funds to cover the costs of future depreciation charges and scheduled improvement works to the cafe bar and auditorium and £67,026 is for various short-term projects that are either annual or spread across the year end. Mindful always of the imperative to continue to secure the future of the theatre, the trustees have plans in hand to address this situation and aim to build free reselves to provide against artistic risk. shortfalls in box and/or development income, and unplanned Maintenan￿ and renewals. The plan is to attain 25% of normal operating expenditure. TRUSTEES, RESPONSIBIUTIES IN RELATION TO THE FINANCIAL STATEMENTS Statement of Trustees. responsibilities in respect of the Financial Statements The Trustees (who are also Directors of Kingston Theatre Trust for the purposes of Company Law) are responsible for preparing the Trustees Report and consolidated financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the Trustees to prepare con501idated financial statements for each financial period which give a true and fair view of the state of affairs of the charitable company and group and of the incoming resources and appl ication of resources, including the income and expenditure. of the charitable group for that period. In preparing those financial statements, the Trustees are required to: select suitable accounting policies and then apply them con51Stently; observe the methods and principles in the Charities SORP 2019 IFR51021: make judgements and estimate5 that are reasonable and prudent- state whether applicable UK Accounting Standards have been followed, subjett to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless tt is inappropriate to presume that the charitable group will continue in operation. Page 14

Kingston Theatre Trust and its subsldiary undertaking TRUSTEES. ANNUAL REPORT for the period ended 31 March 2024 TRUSTEES, RESPONSIBILITIES IN RELATION TO THE FINANCIAL sfATEMENTS {Continued) The Trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charitable group and enable them to ensure that the financial Statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities ststement of disclosure to auditor In 50 far as the Trustees are aware:_ there is no relevant audit information of which the charitable companWs auditors are unaware. and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies. By order of the Board William Price, Chair Ih Date: 16 December 2024 Poge 15

Kingston Theatre Trust and its subsidiary undertaking INDEPENDENT AUDITORS, REPORT TO THE MEMBERS AND TRUSTEES OF KINGSTON THEATRE TRUST for period ended 31 March 2024 Opinion We have audited the financial statements of Kingston Theatre Trust (the 'parent charitable compan¢) and its subsidiaries Ithe 'group'l for the period ended 31 March 2024 whlch compr15e the Statement of Financial Activities, the Group and Kingston Theatre Trust Balance Sheet, Cash ftow Statement and notes to the financial statements. including a summary of significant accounting policies. The financial reporting framework that has been 3pplied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Finoncial Reporting Standard upplicable in the UK and Republic of Ireland Iunited Kingdom Generally Accepted Accountln8 Practice). In our opinion the financial statements: give a true and fair view of the state of the group'5 and parent charitable company's affairs as at 31 March 2024, and of the group's incoming resources and application of resources, including its income and expenditure, for the period then ended,. have been properly prepared in accordance with United fingdom Generally Accepted Accounting Prartice,. and have been prepared in accordance wfch the requirements of the Charitie5 Act 2011. Ba515 for opinion We condurted our audit in accordan￿ with Intemational Standards on Auditing {UKI IISAS (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditorfs responsibilities for the audit of the financial statements sertion of our report. We are independent of the group and parent charit3ble cornpany in accordance with the ethical requirements that 3re relevan". to our audit of the financial statements in the UK, including the FRC'S Ethic31 Stand3 rd, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained 15 Sufficient and appropriate to provide a basis for our opinion. Material uncertainty relating to going concern We draw attention to note Ic in the financial statements concerning the charitable compan¢s ability to continue as a going concern. The charitable group reported a deficit of £195,528 for the period ended 31 March 2024 and at that date the charitable ¢omp2ny reported rnet current liabilities of £478,273. As stated in note Ic these events or condition5 indicate that a matef ial uncertainty exists that may cast significant doubt about the charitable company's ability to continue as a going concern. Our opinion is not modified in respect of this matter. In auditing the financial 5tatement5, we hove concluded that the Trustees Use of the going concern basis accounting in preparation of the financial statements is appropriate. Our responsibilities and the responsibiltties of the directOTS With re5pectto going concern are described in the relevant sections of this report. Other information The other information comprises the information included in the annual repDrt. other than the financial statements and our auditor's report thereon. The trustees are responsible for the other information. Our opinion on the f inancial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Page 16

Kingston Theatre Trust d its subsidiary undertaklng INDEPENDENT AUDITORS. REPORT TO THE MEMBERS AND TRUSTEES OF KINGSTON THEATRE TRUST for the period ended 31 March 2024 In connection with our audit of the financial 51Htements, our responsibility is to read the other Information and, In dolng so. consider whether the other information 15 materialiy incon5iStent with the financlal statements or our knowledge obtslned In the audit or otherwise appears to be materially mi55tated. If we identify such material inconsistencte5 or apparent materlal mlsstatements. we are required to determine whether there 15 a material misstatement In thÈ financial ststements or a materlal misstatement of the other informatlon. IF. based on the V￿rk we have performed. we conclude that there is a material misststement of this other information, are requlred to reportthat fact. We have nothingto report in this regard. Matters on whlth we are required to Teport by eX￿ption We have nothing to report in respect of thÈ fr>lk>wing matters in relation to whlch the Charities (Accounts and Report5) Regulations 2008 requires us to report to YOU sf. in our opinion: the information gtven in thÈ trustees. report is inconsistent in any material respect with the financial statements; or sufficient accounting records have not been kepL" or the financial statements are not in agreen￿nt with the accounting records: or we have Dot received all the information and explanations requiro for our audit. Responsibilities of trustees As explained more fully in the trustees. responsibilities ststement set out on page 14-15 the trustees (who are also the directors of the charitable company for the purposes of company law} are responsible for the preparation of the financial Statements and for being satisfied that they gTve a true and fair view. and for such internal control as the trustees determine 15 necessary to enable the preparadon of financial statements that are free from rnaterial misStatemen( whether due to fraud or error. In preparing the flnanclal statements. the trustees are responsible for a55es5ing the group and parent charFtable companws ability to continue.as a going conceTn, disclosin& as applicable, matters related to going concern and using the golng concern basis of accounting unless the trustees either intend to liquidate the group or the parent charitsble company or to cease operations, or have no reallsuc alternative but to do so. Page17

Kingston Theatre Trust and its subsidiary undertaking INDEPENDENT AUDITORS, REPORT TO THE MEMBERS AND TRUSTEES OF KINGSTON THEATRE TRUST for the period ended 31 March 2024 Audttorfs responsibilities for the audit of the finanoal statements We have been appointed as auditor under sectlon 151 of the Charities Act 2011 and report in atcordance with the Actand relevant regulations made or having effect thereunder. Our objectlves are to obtsln reasonable assurance about whether the financial ststements as a whole are free from material misstatemenL whether due to fraud or error, and to issue an auditorfs report that includesour opinion. Reasonable assurance Is a high level of a55urance, but is not a guarantÈe that an audit conducted in accordance with ISAS IUKJ will always detect a material mlsstaten)ent when it exists. Misstatements can arise from fraud or error and are considered material if, individually or In the aggregate. they could reasonably be expected to Inftuence the economic decisionsof userstsken on the basis of these financlal ststements. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uVauditor5responsibilities. Th5s description forms part of our auditorfs report. Irregularities, Including fraud. are instsnces of non-compliance with laws and regulations. We design procedures in line with our responsibilitles. outlined above. to detect material misstatements in respect of Irregularities. Including fraud. The extent to which our procedures are capable of detectin8 irregularities. including fraud Is detsiled below. Explanation as to what extent the aU￿rt Wa5 considered rapable of detertln8 Irregulzrities, Induding fraud The objectives of our audit in respect of fraud. are- to identify and assess the risks of material misstatement of the financ ial statements due to fraud. to obtain sufficient appropriate audit evidence regardingthe assessed risks of material misststement due to fraud. through designlng and Smplementlng appropriate responses to those assessed risks.. and to respond appropriately to instances of fraud orsuspected fraud identified during the audit. However. the primary respons￿bIllty for the prevention and detection of fraud rests wtth both management and those charged with governance of the charitsble company and group. Our approach was a5 follow5: The engagement partrtÈr selected staff for the audft who it was deemed had sufficient experience and who had the requlred competence and skills to be able to Identify or recognise non-compliance with laws and re8ulations. We assessed the risk of irregularities as part of our audit plannin& and ongoing review, including those due to fraud, management override w35 identified as a sl8nificant fraud risk. This is due to the ability to bypass controls through inappropriate expenditure and accounting policies adopted. CompletenÈss of Income was deemed a significant risk to the audit, specifically the cutoff of income at the year end. Some income recelved Is restrlcted In Its use and a significant risk was identified regarding the correct classification of income between rostricted and unrestricted fijnds and that the expenditure against this income wa5 in line with any specified re5triGtions. We obtsined an understsnding of the legal and regulatory requirements appllcable to the charity and group and we considered the most slgnlficant to be Charites Act 2011, the Charity SORP, UK financial reporting stsndard5 a5 issued by the Financial Reporting Council and UK Taxation legislation. We considered how the charitsble company and group complles wlth these requirements by dis¢u55ions with management and those charged with governance. We inquired of managerrEnt those thar8ed with governance as to any known instances of non-compliance or suspected non-compliance with laws and regulations. Consideration was also made of the internal controls in place to mitigate the identified ris PG9e 18

Kingston Theatre Trust and its subsidiary undertaking INDEPENDENT AUDITORS. REPORT TO THE MEMBERSAND TRUSTEES OF KINGSTON THEATRE TRUST for the period ended 31 March 2024 We assessed the control environment, documenting the systems. controls and processes adopted. The audit approach incorporated a combination of contio15 where appropriate, analytical review and substantivÈ procedures involving tests of tran5action5 and balances. Any irregularities noted were dixussed with management and additional corroborative evidence wa5 obtained as required. The consolidated financial ststements of the group incorporate the re5uk5 of the subsidiary entity, which is exempt from audit. A review has been completed at group level on areas that are significant to the consolidated financial Statements. To address the risk of fraud through management override we: performed analytical procedures to identify any unusual or unexpected relatiot*ship5- tested journal entrios to identify any unusual transactions- assessed whether judgements and assumption5 made in determining the accounting e5tirnates were indicative of potential bias- reviewed the disclosures within the financial staternents to ensure they meet the requirements of the accounting standards and relevant legislation. reviewed transactions with related parties in particular with group ontities and strategic partners. To address the risk of completion of income we- performed analytical procedures to identify any unusual or unexpected relationships. along with comparison to budget. performed a proof in total of box office income-, tested a sample of income transattions from supporting d<xumentation into the accounting records- and performed cut off procedures on income straddling the year end. In response to the classification of income between restricted and unrestricted we: agreed a sample of income recorded in the nominal ledger to source documentation to Ènsurè any restrictions were correctly identified: agreed a sample of expenses incurred to ensure that they had been allocated to the appropriate fund- and obtained and reviewed fund analysis working5 to ensure that the calculations were corrett and agreed to the actounting records. There are inherent limitations in our audit prO￿dureS described above. The more removed that laws and regulations are from financial transactions. the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence. if any. Material misstatements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealrnent or collusion. Puge 19

Kingston Theatre Trust and its subsidiary undertaking INDEPENDENT AUDITORS. REPORT TO THE MEMBERS AND TRUSTEES OF KINGSTON THEATRE TRUST for the period ended 31 March 2024 Use of our report This report15 made 501ely to the charitable compan¢5 members. as a body, in accordance with Part 4 of the Charities (Accounts and Reportsl Regulations 2008. Our audit work ha5 been undertaken so that we might State to the charitable company's members and trustees those matters which we are required to state to them in an auditorfs report and for no other purpose. To the fu Ilest extent permitted by law. we do not accept or assume re5pon5ibility to any party other than the charitable company, the charitable company's members, as a body. and the charivs trustees, as a body for our audit work, for this report. or for the opinion we have formed. LI4￿6t°191 Louise Hastings (Senior StatutoryAuditor) For and on behalf of Moore {South) LLP) Chartered Accountants statutory Auditor Suite 3, Second Floor, Friary Court 13-21 High Street, Guildford GUI 3DG Date: Moore Isouthl LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006 Page 20

Kingston Theatre Trust and its subsidiary undertaking CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (Including Consolidated Income and Expenditure Account) for the period ended 31 March 2024 Restrirted Capital 2024 RestrlcLed Unrestricted Revenue 2024 TOTAL TOTAL Note 2024 2024 2023 Income from: Donations and legacies Charitable actmtres Other trading activities Investments 214,088 142.156 3.396.647 121.035 5.271 356.244 3.396.647 171.035 5.271 306.023 3.696.940 149.880 L853 50.000 Total income 264,088 3,665,109 3.929.197 4.154.696 Expenditure on: Raising funds Charitable activities Other 1.207 52,053 182.865 3572.989 25.931 184.072 3.914.722 25.931 174.lJ)8 3,942.340 28.806 289,680 io Total expendTture 53.260 289.680 3,781,785 4.124,725 4.145,154 Net income Transfer between funds (s3.2f￿1) 125.5921 (116.6761 1195.5281 9.542 Net movements in funds li 153.260) 125.5921 1116.6761 1195.5281 9.542 Reconciliation of funds: Total funds brought forward 554.685 92.618 850,504 1.497.807 1,488.265 Total fund5 cJwried forward 501A25 67,026 733.828 1.302.279 1.497.807 The statement of financial activtties includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. As permitted by the Statement of Recommended Practice IFR5102). the parent undertaking's own statement of financial activities has not been included in these financial Statements. The 8r05s income of the parent undertaking for the financial period was £4,960.98812023: £4.920,9021 and the result for the period was a deficit of £195,528(2023: Eg,542 surplus). ThE notes on pages 24to 45 form part of these financial statements. Poge 21

Kingston Theatre Trust and its subsidiary undertaking Registered Nu mber 02497984 BALANCE SHEET 31 March 2024 Note 2024 31 March Group 2023 2 Aprll Group 2024 31 March Trust 2023 2 April Trust Fixed a55ets Tansible I￿sets Investment5 15a Isb 1.780.551 1,809,526 1,780,551 1,809,526 L780.552 1.809.527 1,780,S52 I,B09,527 Current a55ets Stock Deljtors Cash at bank and in hand 16 17 95,896 828.445 313,344 93.316 651.874 421,037 95,896 740,329 230,838 93,316 682,042 295,307 1.237.685 1.166,227 1,067,063 1.070,665 Creditors Amounts falling due within one year 18 1.715.958 1.477,947 1,545,336 1.382,385 1,715,958 1,477,947 1,545,336 1.382.385 Net Current liabilities {478.273) 1311,7201 1478,2731 {311.7201 Net assets 1302.279 1,497W7 1.302.Z79 IA97W17 Charity funds Unrestricted Funds- general 20 733.828 850.504 733,828 850,504 733,828 850,504 733,828 850.504 Restrirted Fund5 20 568,451 647,303 568,451 647.303 Total charlty funds 1301279 1.497.807 1,302,279 1,497.807 For the period ended 31 March 2024 the company was entttled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. However, an audit is required in accordance with section 43 of the Charities Act 2011. Trustees, responsibilities- The trustees have not required the company to obtain an audrt of it5 account5 for the year in question in accordance with section 476,. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These financial statements have been prepared in accotdance with the special provisions for small companies under part 15 of the Companies Act 2016. Formally approved by the Board on 16 December 2024 and signed on its behalf by= William Price, Chair The notes on pages 24 to 45 form part of these financial statements. Puge 22

Kingston Theatre Trust and its subsidiary urtdertaking STATEMENT OF CASH FLOWS 31 March 2024 Note 2024 31 March Group 2023 2 April Group 2024 31 Maich Trust 2023 Z April Trust Cash flows from operatlng actlvitles Net cash Provided by operating activitie5 26 (43,1261 1286,328) 98 1250.491) Cash flows frorn investing artlvltles Dividend5 and interest from investments and bank Purchase of property. plant and equipment 5.271 169.838) 1.853 1335.1141 5.271 {69.8381 I￿53 1335.1141 Net cash used in Investlng actlvltles Change in cash and cash equivalents in the reporting period 164.5671 1333261) 164.5671 1333.2611 1107.6931 1619.5891 164.4691 {583.752) Cash and cash equivalents at the b￿nn)nE of reporting period 421,037 1.040.626 295.307 879.059 Cash and cash equivalents at the end of the reportlng perfod 313.344 421.037 230,838 295.307 Page 23

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL ¥fATEMENTS for the period ended 31 March 2024 Summary of accountlng pollcies The principal accounting policies which are adopted in the preparation of the financial statement5 are set out below. Company status The company is a company listed by guarantee and has no share capital. The company was incorporated on l May 1990 in England and was registered with the Charity Commission 29 August 1990. The members of the company are the Trustees named on page 3. In the event of the company being wound up, the liability in respect of the guarantee is limited to El per member of the company. The address of the registered office is given on page 4 of these financial statements. The nature of the charity's operations and principal activities are explained in the Trustees Report. The charity constitutes a public benefit entity as defined by FRSIO2. b) Basis of accounting The financial statements have been prepared in accordance with the charitable companvs Articles of Association, Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard appl icable in the UK IFRS 1021 (Second edition) and the Companies Act 2006. The financial statements are prepared in sterling which is the functional currency and have been rounded to the nearest pound. The financial statements have been prepared under the historical c05t convention. The principal accounting policies are outlined below. Going concern The charitable company made a deficit of £233,028 for the period ended 31 March 2024, and at that date the company reported net current liabilities of £515,733. The charitable company have prepared a forecast for at least a period of twelve months which shows they have sufficient funding for the majority but the company remains reliant on projected funding from the two stakeholders. While this material uncertainty exists, which may cause some doubt in respect of going concem, the two stakeholders have confirmed their continued support for at least the next 12 months. The trustees consider that thi5 SUPPOrt alongside the budget and cash flow projections is sufficient for their balance of judgement that the going concern basis is appropriate for the preparation of the financial statements. Page 24

Kingston Theatre Trust and its subsldlary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 d) Income Income is recognised when the charitable company is legally entitled to it after any perfom)ance conditions have been met. the amounts can be measured reliably. and it is probable that the income will be received. Donations and grants Cash donations are recognised on receipt. Otherdonations and grants are recognised once the charitable company has been notified, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under gift is recognised at the time of the donation. Charitable attivities Income received in advance of a theatrical performance or provision of other 5etvices such as catering. programme sales and tuition fees earned through the learning and participation programme is deferred until the performance or services have taken place. other trading activities Income from fundraising events is recognised once the event has taken place. Royalty income from touring shows is recognised on receipt of independent tour accounts in arrears. Interest receivable Interest is included when receivable by the charity. Expenditure Expenditure, including any irrecoverable VAT. is recogni5ed once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise of trading costs and the costs incurred by the charitable company in inducing third parties to make voluntary contributions to it. Charitable activities include expenditure associated with the following: staging of toncerts, stage productions, art exhibitions, educational programmesand programmeand catering sales income. This type of expenditure includes both the direct COSts and support costs relating to these activities. Other expenditure represents those iterns not falling into any other heading. Allocation of 5UPPOrt Costs Support costs are those functTons that a55iSt the work of the charity but do not directly relate to costs of raising funds or charitable activities. Support Costs include back office costs. finance, personnel, payroll and governance costs which support the Trusts activities. These costs have been allocated between cost of raising funds and expenditure on charitable activitie5. The bases on which support costs have been allocated are set out in note 8. Puge 25

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 h) Donated goods and services Donated profession31 services and donated facilities are recognised as income when the charity has control over the item or received the service, any conditions associated with the donation have been met. the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated gift5, professional services and donated facilities are recognised on the basis of the value of the gift to the cha rity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt. Donations which are given for Subsequent auction as prizes at events are valued at fair value where possible. Those items which do not have a readily available fair value are not included. OperatinE leases Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the lease term, even if the payments are not made on Such a bas15. Tangible fixed assets Tangible fixed assets are stated at C05t less accumulated depreciation and accumulated impairment losses. Individual fixed assets costing £150 or more are capitalised at cost. Cost includes costs directly attribut3ble to making the asset C3pable of operating as intended. Depreciation has been provided at rates calculated to write off the cost of each asset less their residual value over its estimated useful life. The principal annual rates in use are: Equipment, furniture and fittings Long leaseholds IO% to 33% on c05t depending on useful life Over the period of the lease The gain or loss arising on the disposal of an asset is determined a5 the difference between the sale proceeds and the carryi ng value of the asset, and is recognised in the Statement of Financial Attivities for the period. k) Impairment of fixed assets At each reporting date. the charitable company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset 15 estimated in order to determine the extent of the impairment loss lif any). Fixed asset investment5 Investment in the 5ub5idiary 15 measured at cost. Pt7ge 26

ingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 Valuation of investments Investments in theatrical produrtions are recognised at the recoupable amount at the reporting date being the amount contributed to the capitalisation of the productions less amounts recovered and aftermaking provision for losses where recovery of outstanding contributTons in full is not anticipated. Fund accounting Funds held by the charity are either: Unrestricted general funds - these are funds which can be used in accordance with the charitable objects at the discretion of the Tru5tee5. Designated funds - these are funds set aside by the trustees out of unrestricted general funds for specific future purposes or projects. The aim and use of each designated fund is set out in the note of the financial statements. Restricted funds- these are funds that can only be used for particular restricted purposes within the objects of the charity, Restriction5 arise when specified by the donor or wherj funds are iaised for particular restricted purposes. The purposes and uses of the restricted funds are set out in the notes to the financial statement5. Stock Stock is recorded at the lower of cost or net realisable value. after making due allowance for obsolete or slow moving items. Work in progress comprises theatre pre-produrtion costs. which are recorded as a current asset. Theatre pre- production costs are amortbsed to the Statement of Income and Retained Earnings over the estimated life of the production on an anticipated revenue basis subject to any impaimient p) Debtor5 Trade and other debtors are recognised at the settlement atnount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. q) Cash at Bank and in Hand Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months 01 less from the date of acquisition or opening of the deposit or similar account. Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recogni5ed at their settlement amount after allowing for any trade discounts due. Page27

Kingston Theatre Trust and its subsidiary undertaklnE NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 Loan5 and borrowings Loans and borrowings are initially recognised at the transartion price including transaction costs. Subsequently. they are measured at amortised cost using the effettive interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value. Financial Instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and Subsequently measured at their settlement value. Pensions The Charity contributes to a defined contribution scheme on beh31f of its employees. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charged to the Statement of Financial Activities represents the amount due in the accounting period. Contributions were also made on behalf of artists who were members of the Equity UK Pension Scherne. Employee benefits The c05t of any unused holiday entitlement is recognised in the period in which the employee's services are received. Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits. w) Basi5 of consolidation The financial statements are consolidated to represent the posltion of Kingston Theatre Trust and its subsidiary undertaking. A separate statement of financial acrivities is not prepared as permitted by Section 408 of the Companies Act 2006. Taxation The charity is an exempt charity within the meaning of Schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in paragraph I Schedule 6 Finance Art 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. The subsidiary company has claimed Theatre Tax Credit relief afforded by Part 15c of the Corporation Taxes Act 2009. The income receivable has been included within Incoming Re50urce5 from Charitable Activities. Poge 28

ngston Theatre Trust and its subsldiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the perlod ended 31 March 2024 Judgements and key sources of estimation uncertainty In the application of the charitable compan￿5 accounting polities, the Trustees are required to make judgements, estimate5 and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other source5. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differfrom these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accoLfjnting estimates are recognised in the period which the estimate is revised where the revision affects only that period, or in the period of the revision and future period5 where the revision affects both current and future periods. Critical estimates The following estimate has the most significant effect on amounts recognised in the financial statements. reciation of leasehold ro Trustee5 consider the depreciation policy of the leasehold property annually and compare against other similar entities. Leasehold property is depreciated over the life of the lease. 125 years. If the leasehold property was depreciated over a shorter period there would be no impact upon available cash butthe annual depreciation charge would increase and reserves would be lowered. Income from donations and legacles 2024 2023 Unrestricted DonatiOT15 Grants 142.156 114.979 142,156 114,979 Restrlcted Donations Grants 25.411 188,677 49.759 141.285 214.088 191,044 356.244 306.023 The following government grants were received during the period: £2,530 (2023-£37.770) 7KdS received from Arts Council England towards development and workshops for productions. Page 29

Klngston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the perlod ended 31 March 2024 Income from charltable activities The income was primarily frorn the operation ofthetheatre. 2024 2023 Box office income Programme, catering and hires income Stakeholder support Learning & participation income 2.139.246 472,798 518,750 265.853 2,436,746 468,402 553,900 237,892 3.396,647 3,696,940 All income from charitable attivitie5 for 2024 and 2023 was unrestricted. Income from other trading actNities 2024 2023 Fundraising events Royalties and touring productions Trad ing subsidiarie5 37,686 16,129 117,220 50,992 14,065 84,823 171.035 149,880 £50,000 12023-£Nill was received by the trading subsidiary from Innovate UK Creative Catalyst Fund towards the digitalisation of UK theatres. All other income from other trading activities for 2024 and 2023 was unrestricted. Income from investments 2024 2023 Interest receivable 5,271 1.853 5,271 1,853 All interest receivable for 2024 and 2023 was unrestricted. Page 30

Kingston Theatre Trust and its subsldlary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the perlod ended 31 March 2024 Analy515 of expenditure on raising lunds 2024 2023 Fundraising costs of grants and donation5- Fundraiser5 fees and salaries Other direct costs Support Costs (Dote 8) Depreciation Inole 91 84,748 14,069 84.048 1,207 75.786 23.328 73,865 1.029 184.072 174.008 Expenditure on raising funds was £184.072 (2023 - E174.1))8) of which £1,207 {2023- £1,029) wa5 attributsble to restricted fund5. AnalysFS of expenditure on charitsble activities Box Office & Production Income Front of House & Catering Learning & Participation Total 2024 Total 2023 Production5 Learning & Participation Front of House, Catering & Hires Support Costs (note 81 Depreciation (note 9) 2.017.082 2,017,082 269,140 35S.238 1.175.655 97.607 2,190,722 226,562 335,613 J.109.937 79.506 269.140 355,238 161.031 57.617 892.806 34.443 121.818 5.547 2,944,331 396,505 573.886 3.914.722 3,942,340 Expenditure on charitsble activities was E3.914,722 12023 - £3,942,340) of which £341.733 12023 - £98,829) was attributable to restricted funds. Pt7ge 31

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL sfATEMENTS for the perlod ended 31 March 2024 Allocation of 5UPPOrt Costs Box Office & Raising Production Funds Income Front of House & Catering Basis of Allocation Learning & Production Total 2024 Total 2023 arketing Box Office Premises rime BO Income Gr055 revenue generated by business artivrty 12,880 11.066 193.206 192.502 20,609 24.811 30.913 257,608 228,379 277,073 240,302 31,332 335,192 46,316 82,369 495.209 400,306 Management & Central resource Time Headcount Time as per management & central resources 21,484 6,564 139,643 27,567 21.484 7,876 32.225 14,440 214,836 56.447 217,698 46,042 Other 722 4.696 722 1,084 7.224 2,381 84,048 892,806 121.818 161,031 1,259,703 1,183,802 Allocation of depreclatlon Box Office & Raising Produrtion Funds Income Front of House & Catering Basis of Allocation Learnin8 & Production Total 2024 Total 2023 Leasehold Gross revenue generated by business activity Identifiable assets Gr05s revenue generated by business activity Identifiable assets Identifiable assets 627 7.456 927 1,648 10,658 10,658 Bar & Front of House equipment 80iler refurbishment 50,682 50,682 39.485 6,895 857 1.524 9.856 9,856 Auditorium project 20,092 20.092 13,010 Gallery project 3.763 3,763 7,526 7,526 1,207 34,443 5.547 57,617 98,814 80,535 Poge 32

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 io Other co5tS 2024 2023 Governan￿ costs External audit Other fees paid to auditor5 Other taxation advice Indemnity Insurance Legal and professional charges 16.000 180 6,143 1.593 2,015 13.350 170 5,250 1.882 8,154 25.931 28.806 All expenditure on other costs for 2024 and 2023 was unrestricted. li Net incomel lexpenditurel for the year This is stated after cha￿Ing the following: 2024 2023 Operating lease rentsls Depreciation Proftt on disposal of fixed assets Auditor5 remuneration - Audit Auditors remuneration - Other services Staff and art15ts' costs 99.075 98,813 98.840 80.535 495 13,500 170 2,1)44,738 16.000 180 2,226,819 12 Trustees. and kÉy managemÈnt personnel remuneration and expenses Other than the Chief Executive, trustees neither received nor waived any remuneration, fees or expenses during the vear for their duties (2023 - £Nil). See note 13 for information on amounts paid to the Chief Executive. During the year no trustee re￿iVed fees for work performed12023 - £Nil} and no (2023 - 11 trustee provided gifts in kind {2023- £5,000). During the year 7 trustees12023- 71 donated £3.822 {2023- £7.8121. The total amount of employee benefits received by key management personnel is £Nil12023 - ENill. The total amount of remuneration received by key management personnel is as follows= 2024 2023 Key management remuneration 286.557 255.052 Other than the Chief Executive. no12023- nol trustees are accrving pension arrangements. Ouring the year the trust paid £1,59312023- £1,882) in respert of Trustees Indemnity Insuran￿. Page 33

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 13 Staff and employee benefrts The average monthly headcount durin8the yearwas as follows: 2024 Number 2023 Number Raising funds Charitable activities Governance 62 61 66 65 The 3ver3ge monthly number of employees on permanent contrart during the year was 37 people12023 - 30). The average number of employees on short term and casual contracts during the year was 29 people12023 301. The average number refers to the number of individual ernployees each week irrespective of the number of hours worked_ Employees who earned over £60,000 in the year- 2024 Number 2023 Number £60,000 - £70,000 £70,000 - £80.000 £80.000 ~ £90.000 The total staff costs and employee benefits Was as follows.. 2024 2023 Wages and salaries Social security cost5 Pension costs 1,407,890 116,433 23,976 1.341,917 115,201 23,391 1,548,299 1.480,509 Staff recruitment costs Amounts paid to third parties for artists. fees & consultancy Amounts paid to third parties for artists, pension costs 165 668,783 9,572 4.155 552.012 8,062 2.226,819 2,044,738 The Articles of the charity were amended in June 2010 to permit reasonable remuneration to be paid to the Chief Executive, if that person is a Trustee. Payments to Robert O'Dowd while he was Chief Executive during the year were £86,19012023 £86,190) pension contributions of £1,321 12023- £1.3211 and expenses of £1,65612023 - El,4991. Expenses reimbursed related to travel and sub5isten￿ costs, entertaining costs and office sundry costs. No other trustees received reimbursements for expenses. Puge 34

Kingston Theatre Trust and its 5ub5idiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 14 Taxation No charge arises due to the tharitable ststus of the charitable company. 15a Tangible flxed assets Group Trust Leasehold Property Equipment Leasehold Property Equipment Total Totsl Cost At 2 April 2023 Addition5 Disposals 1,334.583 1.262.670 69.838 2.597.253 69.838 1.334.583 1.262.670 69.838 2,597.253 69,838 At 31 March 2024 1.334.583 1.332,508 2,667,091 1.334.583 1,332,508 2,667,091 Depreciation At 2 April 2023 Charge for period Eliminated on disposals 162.558 10,658 625.169 88.155 787.727 98.813 162.558 10.658 625.169 88,155 787.727 98,813 At 31 March 2024 173,216 713.324 886.540 173,216 713,324 886,540 Net book value At 31 March 2024 1.161.367 619.184 1,780,551 1,161.367 619.184 1.780,551 At 2 April 2023 1.172.025 637.501 1.809,526 1.172,025 637,501 1,809,526 Leasehold Property costs indude fees to architects. quant¥ty5urveyoT5. Structural engineers, constwction rranagers etc. nd the cost of initial construrtion work. Depreciation commenced from January 2009 when architects issued the completion certificate. 15b Fixed asset Investments Shares in group Undertaking5 InvestmÉnts Costs At 2 April 2023 and 31 March 2024 Net Book Value At 31 March 2024 At 2 April 2023 Puge 35

Kingston Theatre Trust and its subsldiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 15b Fixed asset investments Icont.) This investment comprises a 100% owned subsidiary undertakingi Rose Theatre Enterprise Ltd, which 15 registered in England. The cornpanws registered number is 06529121. The turnover of Rose Theatre Enterprise for the period 2 April 2023 - 31 March 2024 was £1,607,44012023- £1,383,903}. Profits of £110,65012023 - E78,4031 were donated to the parent charity Kingston Theatre Trust. The aggregate share capital and reserves at the year-end amounted to £Nil12023- £Nill. 16 Stocks Group 2024 Group 2023 Trust 2024 Trust 2023 Stocks for resale Closing WIP 4.751 91.145 5,393 87,923 4,751 91,145 5.393 87.923 95,896 93,316 95,896 93,316 17 Debtors Group 2024 Group 2023 Trust 2024 Trust 2023 Trade debtors Amount owed by group undertaking Accrued income Theatre Tax Credit and Gift Aid Other debtors Prepaid expenses 140,335 67.460 88.326 478,903 113,634 47,610 484,805 52,257 6,170 128,635 500,009 52,257 434,946 59,466 97,211 59.466 91,200 828.445 651,874 740.329 682,042 Poge 36

Kingston Theatre Trust and its Subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the perlod ended 31 March 2024 18 Credltor5: amounts falling due within one year (continued) Group 2024 Group 2023 Trust 2024 Trust 2023 Irade creditors Box Offi￿ advance Other tax and social security- VAT PAYE other creditors Accruals and deferred income: Accrued expenses Deferred income 493,921 338.050 482.835 391.360 488.221 338,050 482,835 391.360 148.258 30,641 52.215 28.304 84,528 30.641 21.61S 28.304 278,313 426.775 321.5 201,733 205.271 398.625 258,188 200.083 1,715,958 1.477.947 1,545,336 1,382.385 The rnovement in deferred income is as follows.- Group 2024 Group 2023 Trust 2024 Trust 2023 Balance at 2 April 2023 Amounts deferred in the period Amount released to incoming resources 388.736 260,182 316,328 426,755 388,736 398.625 {388,736} (260.1821 {316,3281 213.632 316,328 (213.632} Balance at 31 March 2024 426,755 388.736 398.625 316.328 Deferred income comprises grant5 and co production contributions relatin8 to future accounting periods and deposits for future events. 19 Operating leases Totsl future minimum lease payments under non<ancellable operating leases are as follows: Property 31 March 2024 Equipment 31 March 2024 2April 2023 2 April 2023 Less than l year Later than one and not later than five year5 30.000 30,C 12,490 894 11.925 A 125 year lease with Kingston Theatre LLP commencing l January 2008 was signed on 10 December 2015 Page 37

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 19 Operating leases {cont.I An independent rent review was carried out following which the annual rent was re-set at E35.000 effective l April 2015. Further periodic rent reviews will take place over the life of the lease and a reduction in rent to £30,000 was agreed in May 2022. A break clause was set within the agreement at l January 2017 at which point the charity could give 12 months. notice to terminate the lease agreement. The charity installed new moving stage lights in August 2018 under a five year agreement with SLX. The annual charge 15 £47,700 and the minimum rental period is three years after which three months. notice of cancellation is required. Durlng the pandemic extended closure in prior years. reduced rentals and payment holidays were negotiated. The agreement has been extended for a further 12 months beyond the five ye3r agreement but ends in August 2024. 20 Fund reconciliation GROLIP Balance BIF 2 April 2023 ncoming Resources Outgoing Resources C105ing 31 March 2024 Transfers Capital Fund Boiler Auditorium and Front of House Gallery performance space 24,237 470,238 60.210 19,8561 135.8781 (7,5261 14,381 434,360 52.684 Total Capital Fund 554,685 153,2601 501,425 Restricted RÈvenue Fund Let Me In Festival Bursary Scheme Peter Hall Emerging Artist Fellowship Youth Outreach Christmas Tree New Writing Festival Participate Fund Access Fund Production Funding Core Funding Youth & Education Project Development 5UPPOrt Innovate UK Digitalisation 3,373 3,607 34.742 1.688 3,373 3,472 19,471 14.899 2.679 21.232 13,830 250 {4,S30} 136,6891 16191 1250} 1,716 186 186 1.716 4,536 42,770 11861 11,7161 13,0001 149,0671 18,0001 1125.0001 112.5251 Iso,000} 1.536 6,297 8,(KJO 125.INJO 36,800 50.(KK) 24,275 Total Restricted Revenue Fund 92.618 264.088 1289,6801 67.026 General Fund 850,504 3,665,109 13.781,785) 733,828 Total 1.497.807 3.929,197 14.124,725) 1,302.779 Poge 38

Kingston Theatre Trust and Its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 20 Fund reconciliation IContinued} Prior period: GROUP Balance B/F 3 April 2022 Incoming Resources Outgoing Resources Closing 2 April 2(J23 Transfers Capital Fund Boiler Auditorium and Front of House Gallery performance spa 34,093 407.627 67.736 19.8561 125.9041 (7.5261 24,237 470.238 60,210 88.515 Totsl Capital Fund 509.456 88,515 {43.2861 554,685 Restrrrted Revenue Fund Let Me In Festival Intern Scheme Bursary Scheme Peter Hall EmÈrging Artist Fellowship Youth Outreach Christmas Tree New Writtng Festtval Participate Fund Access Fund Production Funding 3,373 2.500 913 34.567 1.523 3.373 i.OLX) 4.834 2.675 1.250 252 (3,5001 12.140) {2,500) {4,585} 12521 3.607 34,742 1.688 3,5 186 1.716 4.536 42.770 1.543 2,056 173 4.576 87.770 (2.096) {45,000} Total Restricted Revenue Fund 46,661 102.530 156.573) 92.618 General Fund 932.148 4.157,284 (4,238,9281 850,504 Total 1.488.265 4.348.329 [4,338,787) 1,497,807 80iler- The fund was set up from a grant to cover the cost of refurbishment works on the boiler and is to be used to cover annual depreciatron charges. Auditorium & Front of House-The fund is for iefurbishment costs of the auditorium to provide a mc)re intimate experience for the audience and to improve sightlines and acoustics. The second stage of the auditorium work to improve access was completed in September 2022. Improvements were simultaneously made to the café and ground floor front of house areas. A third phase of auditorium improvements replaced worn out seating. Galler erf0rrnan￿ space - The second phase of the capital project tta115formed the theatre's gallery space into a performance space. Let me in Festival- This 15 an indusive drama festival featuring work by and for people with physical, learnin8 and sen￿ry needs. Bursa theatre. Scheme- The fund 15 to provide financial assistan￿ towards course fees to members of the Rose Youth Peter Hall Emer in Artist Fellowshi Established to commemorate the legacy of our founding Artistic Director and as an expre55ion of the Rose'5 commitment to bein8 both a distinctive producing house and a developer of theatre talent. The fund is to provide a stipend for the chosen fellow in a residency at the Rose theatre. Page 39

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 20 Fund reconciliation Icont.) Youth Outreach -The fund was established for future work with young disadvantaged people. Christmas Tree-The fund was donated by the DNB to payfor the cost of the annual Christma5 tree. New Writin Festival ACE Grant- Thi5 fund was established to support a festival of new writing which was part of the work developed by the inaugural PHEAF recipient and the remaining fund5 transferred to the PHEAF fund. Partici ate Fund-This fund was established to enhanceand supportthework ofthe Rose Youth Theatre. Amounts were used to support the Bursary fund this year. Access Fund This fund wa5 established to support access performances and t￿[nIng costs for captioning practitioners Production Fund in Grants were awarded by Arts Council England toward5 the production of Richard 111, and grants wa5 awarded by Cockayne Foundation and the Royal Norwegian Embassy towards Shooting Hedda Gabler. Core Fundin Grants were awarded towards overheads by The Rose Foundation and the Royal Borough of Kingston Youth & Education Pro ert - Grant tOW3rds costs ofourwork with young people. Develo ment5u ort-Grants wereawarded byThe Backstage Trusttoward5fundraising consultancyand staffing costs Innovate UK-Grant funded Digitalisation of UKTheatre projert Poge 40

Kingston Theatre Trust and its 5ub5idiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 20 Fund reconclllation (cont.) TRUST Balan B/F 2 April 2023 Incoming Resources Outgoing Resources Closing 31 March 2024 Transfers Capltal Fund Boiler Auditorium and Front of House Gallery perfomiance space 24.237 470.238 60,210 19.8561 135,878) {7.526) 14,381 434,359 52,684 Total Capital Fund 554,685 {53.260) 501.425 Restricted Revenue Fund Let Me In Festival 8ursary Scheme PÈter Hall Emerging Artist Fellowship Youth Outreach Christmas Tree New Writing Festival Participate Fund Access Fund Production Funding Core Funding Youth & Education Project Development support 3.373 3.607 34,742 1,688 3.373 3.472 19,471 14.899 2.679 21,232 13.830 250 14,530} (36,6891 16191 12501 1,716 186 186 1,716 4.536 42,710 1186) {1.716} {3.OlXII 149,0671 (8.Otioi {125.000) (12.525) 1.536 6,297 8.000 125,000 36.8 24.275 Totsl Restricted Revenue Fund 92,618 214,088 {239.6801 67.026 General Fund 850.504 3.665.109 (3.781.785) 733.828 Total 1.497.807 3.879.197 (4.074.725} 1,302.279 Poge 41

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 20 Fund reconciliation {cont.I Prior period: TRUST Balance BIF 3 April 2022 Incoming Resources Outgoing Resources Closing 2 April 2023 Transfer5 Capitsl Fund Boiler Auditorium and Front of House Gallery performance space 34,093 407,627 67,736 (9.856) 125,9041 17,526} 24,237 470,238 60,210 88,515 Total Capital Fund 509,456 88,515 143,2861 554,685 Restrirted Revenue Fund Let Me In Festival Intern Scheme Bursary Scheme Peter H311 Emerging Artist Fellowship Youth Outreach Christmas Tree New Writing Festival Participate Fund Access Fund Production Funding 3,373 2.500 913 34,567 1,523 3,373 1,000 4,834 2,675 1,250 252 13.5001 (2,1401 12,5001 {4.5851 (2521 3,607 34,742 1.688 3.500 186 1,543 2,056 186 1,716 4,536 42,770 173 4.576 87,770 {2,096} 145.0001 Total Restricted Revenue Fund 46.G61 102.530 156,5731 92,618 General Fund 932,148 4,157,284 {4.238,9281 850,504 Total 1,488.265 4,348,329 14.338,787} 1,497,807 Poge 42

Kingston Theatre Trust and Its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 zi Analysis of group net assets between funds Restricted Revenue Fund General Fund Capital Fund Designated Fund Total Fund Tangible fixed assets Cash Other assets 1,279,126 246.318 {791.616) 501.425 1.780,551 313.344 {791.616) 67,026 733,828 501,425 67,026 1.302.279 Prior period- Restricted Revenue Fund Generdl Fund Capital Fund Designated Fund Total Fund Tangtble fixed assets Cash Other assets 1,254,841 328,419 {732,756) 554.685 1.809,526 421,037 1732,756) 92.618 850504 554,685 92,618 1,497.807 22 Pension and other post-reb"rement benefft commitment Defined Contribution 2024 2023 Contributions payable by the charity in the period 23,976 23.391 Contributions of £6.322 (2023: £5.4531 were payable to the scheme at the balance Sheet date. 23 Control There are no controlling parties. Related party transactions DLJring thÈ year R8K provided funding of £2CKl.Oc￿ {2023 - £200.OIM)I to Kingston Theatre Trust. RBK purchased £594 of seNices from its subsidi3ry undert3king12023 - É1.1801 and at the year-end £Nil (2023 - £684) was included within trade debtors. A grant of £3.(X)O was awarded from the Community Resilience Fund towards core costs and a grant of E5,IK)O was awarded towards youth outreach projerts. Page 43

Kingston Theatre Trust and its subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL sfATEMENTS for the period ended 31 March 2024 Kingston Theatre Trust also purchased services from RBK for £16,78712023 £11,940) and at the year-end £13,512 12023 - £3,760) was included within trade creditors. There are no other balances with RBK at the year-end12023 £Nill. RBK has the power to nominate up to two candidates for appointment to the Board oftrustee5. During the year £30,OLK)12023- £30,000) was payable to Kingston Theatres LLP in respect of rent and at the year-end £37,50012023- £37.5001 was included within accruals and E60,1M {2023 - £Nill within trade creditors. KU purchased services from Kingston Theatre Trust of £342.29212023 - £353,900) and £15,26212023 - £15.582) from its subsidiary undertaking. At the year-end £5,89812023 - £9281 was included with trade debtor5 of Kingston Theatre Trust and £1,09212023 - £12,813) within the trade debtors of its subsidiary. No professional services as gifts in kind were received from Trustees {2023 - 1112023 - £5,000) fi)r work done on pro bono basi5. 25 Financial instruments The carrying amounts of the charit¢s financial instrument5 are as follow5: Group 2024 Group 2023 Trust 2024 Trust 2023 Financial assets Debt instruments measured at amortised c05t: - Trade debtor5 Inote 171 - Amounts owed by group undertakings Inote 16) - Other debtors (note 171 Accrued income (note 171 Cash in hand and at bank 140,335 67,460 88,326 478,903 47,610 484,805 128,635 313,344 52,257 421,037 113,635 230.838 52,257 295,307 582,314 540,754 911.702 879,979 FinL7nciuJ liabilities Measured at amortised cost: Trade creditors Inote 181 Accrued expenses (note 18) 493,921 278,314 482,835 321,500 488,221 205,272 482.835 258,188 772,235 804,335 693,493 741.023 Pt7ge 44

Kingston Theatre Trust and Its Subsidiary undertaking NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS for the period ended 31 March 2024 26 Reconciliation of consolidated net income to net cash Ilow from operating artivities Group 2024 Group 2023 Trust 2024 Trust 2023 Net income for the reporting period Adjustments for.. Depreciation charges Loss on disposal of fixed assets Divtdends and interest from investments and bank Ilncrease) / decrease in stock Ilncrease} / decrease in debtors Increase / Idecreasel in creditors 1233.0281 9.542 1233.0281 9,542 98.813 80,535 98.813 80,535 15.271) (1,8531 {2,580) 151.7121 {176.571) (162,5991 275,511 (160,2411 (5,2711 12.580) 158,287) 200,451 {1,8531 {51.7121 1137,101) {149,9021 Net cash provided by operatlng artl¥iti@s 143.126) 1286.3281 98 (250.491) Poge 45