**Company registration number 02553922 (England and Wales) Charity registration number 1003041 (England and Wales)** 

## **WILTON'S MUSIC HALL** 

# **ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025** 



## **WILTON'S MUSIC HALL** 

## **LEGAL AND ADMINISTRATIVE INFORMATION** 

|**Trustees**|Dr John Gayner|
|---|---|
||James Heaton|
||Andrew Makin|
||George Marsh (Chair)|
||William Taylor|
||Mark Tierney|
||Ann Vallely|
||Mark Rhodes|
|**Charity number**|1003041|
|**Company number**|02553922|
|**Executive Director**|Holly Kendrick|
|**Registered office**|Wilton's Music Hall|
||Graces Alley|
||London|
||E1 8JB|
|**Auditor**|MHA|
||2 London Wall Place|
||Barbican|
||London|
||EC2Y 5AU|
|**Bankers**|Coutts & Co|
||440 Strand|
||London|
||WC2R 0QS|
|**Accountant**|Two Matts LLP|
||151 Wardour Street|
||London|
||W1F 8WE|
|**Charity website**|www.wiltons.org.uk|





## **WILTON'S MUSIC HALL** 

## **CONTENTS** 

||**Page**|
|---|---|
|Chairman's Report|1|
|Trustees' report|2 - 9|
|Statement of trustees' responsibilities|10|
|Independent auditor's report|11 - 14|
|Consolidated statement of financial activities|15|
|Consolidated balance sheet|16|
|Charity balance sheet|17|
|Consolidated statement of cash flows|18|
|Notes to the financial statements|19 - 33|





## **WILTON'S MUSIC HALL** 

## **CHAIRMAN'S REPORT** 

## _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

This was a year when we continued to contend with the adverse economic conditions facing the country as a whole. After the success of ‘Potted Panto’ the previous year we took the strategic decision to produce ‘Potted Panto” again in association with James Seabright. The decision was a good one as the production exceeded our Box Office targets. As part of our commitment to the local community 350 local schoolchildren and their teachers came to Wilton’s to see the show. Our CEO Holly Kendrick is to be warmly congratulated on the variety and quality of the productions throughout the year. Despite the difficult financial conditions in the country, her positive selection of shows was much appreciated by our audiences and led to Wilton’s making a pleasing surplus. Given the current concerns about the economy, producing companies do not want to commit to long runs. We now regularly have split weeks which makes extra work for our technical, marketing, contracting, accounting, administrative and operational staff. We very much appreciate their commitment to this new style of operation. 

In order to see if and where we could make Wilton’s a more comfortable and energy efficient venue, we undertook an eco-audit. It has led to positive outcomes preserving Wilton’s as a traditional music hall but with significantly improved energy consumption. We have moved from Tungsten to LED lighting throughout the Hall. The work was completed in early 2025. We are very much in debt to ETC and Stage Electrics who provided the equipment and Guy Hoare who designed the new lighting rig. The very generous financial aid of the International Music and Arts Foundation made it possible to take this critical project forward. 

All this is being achieved through our good audience numbers, the lettings of our spaces during the day driven by our in-house team as well as weddings which reached their target for the year. This is further enhanced by the outstanding support of our funders and patrons for which we are so very, very grateful. Wilton’s would be in a very different place today without the financial support of our generous and magical funders and patrons; thank you so much. 

Leadership is a critical factor in seeing organisations flourish in testing times and we have the very, very impressive example of our CEO Holly Kendrick. The programme she plans and delivers, the staff she employs to work with her, and her ability to see areas we need to develop in the future, such as the LED lighting and the revamped HVAC system, show she is a very special leader. She not only leads her team but also advises the Board for which I thank her on behalf of the Board. The grateful comments of many that come to see our productions about seeing top class work in different genres at such reasonable prices is very marked when sitting out front. 

Board meetings are regular and virtual, and I would like to thank all my fellow trustees for the time and expertise they bring to our meetings. With the drive of our in-house team and the continued involvement of the Board, Wilton’s can view the future with quiet confidence. 


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.............................. George Marsh **Chairman** 

15 June 2026 Date: ......................... 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

The trustees present their annual report and financial statements for the year ended 30 September 2025. 

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". 

## **Objectives and activities** 

## **a. Principal activity and objectives** 

The principal activity of Wilton's Music Hall is that of the advancement of public education in the art of music, drama and the other performing arts whilst continuing to create funds for the on-going restoration and upkeep of our worldclass building. 

## Wilton’s Vision: 

That Wilton’s makes an important cultural contribution to the life of London, and the nation, for generations to come. 

## Wilton’s Mission: 

To sustain the East End building and its unique spirit with a programme of extraordinary theatre and music, made for all of London and everyone with a curious imagination. 

Wilton's objectives are: 

- The advancement of public education in the art of music, drama and the other performing arts including opera, music, drama, ballet and all arts forms and particularly by the promotion and encouragement of international opera courses; 

- The preservation for the benefit of the people of Greater London and of the Nation, the historical, architectural and constructional heritage that may exist in and around Greater London in buildings (including any building defined in Section 336 of the Town & Country Planning Act 1990) of particular beauty or historical or architectural or constructional interest and including the premises known as Wilton's Grand Music Hall; 

- The promotion, maintenance, improvement and advancement of education including in history and development of the Victorian Music Hall and by encouragement of the arts, including the arts of drama, music, singing, literature, sculpture, painting, and dance; and 

- To advance such charitable purposes as the Charity may decide, and for the purposes of such objects, charitable purposes shall be defined in Section 97 (1) of the Charities Act 1993. 

The strategies employed to achieve these objectives are to: 

- Programme and produce a year-long wide-ranging cultural offer, which appeals to a diverse audience base; 

- Provide an engagement programme, which includes research and development opportunities for emerging and mid career companies and artists as well as heritage activities for local residents and the wider London community; 

- Have a robust financial model which enables us to deliver work for our cultural, community and commercial sectors. 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **b. Main activities undertaken to further the charity's purposes for the public benefit** 

The Trustees have referred to the Charity Commission's guidance on public benefit when reviewing Wilton's aims and objectives and in planning Wilton's future activities. We consider that Wilton's carries out its charitable activities for the benefit of the public through its wide-ranging activities noted above and including those detailed below. 

In October 2024, at the start of this new financial year, Wilton’s presented internationally renowned musical clowns Släpstick presenting their acclaimed show _**Schërzo**_ , _**An absolute triumph, blending uproarious comedy and classical music in a spectacle that defies convention.** (_ ★★★★★ Theatre Weekly). This was followed by the National Youth Theatre’s performance of _**The War of the Worlds**_ , a new play by Rhum and Clay and Isley Lynn, which was performed by the National Youth Theatre REP Company, featuring 18 of Britain’s most exciting young performers from around the UK. The show was BSL interpretated and all performances were described as ‘everyone is welcome at this performance, and we take a calm approach to movement and noise in the audience’. A fantastic move by NYT urged on by some of their neuro-diverse performers. The gala performance was attended by NYT patron the Duke of Edinburgh. November saw the return of Sasha Regan’s hit _**The Pirates of Penzance, A 5- star scintillating production beautifully sung – go storm the Wilton’s Music Hall Box Office.** (_ ★★★★★ Reviews Gate). Christmas saw the return of the much-loved _**Potted Panto**_ , produced in association with Wilton’s, which exceeded Box Office expectations and with funds raised by Wilton’s 350 local school children attended the production for free. Highlights of spring 2025 included James Joyce’s _**The Dead**_ presented by London’s queer classical choir, The Fourth Choir, and Niamh Cusack _**James Joyce’s The Dead brought vividly to life by this exceptionally polished LGBTQ+ choir.** (_ ★★★★ The Guardian) and the all-female _**Mary and the Hyenas**_ produced by northern companies Hull Truck and Pilot Theatre, **…** _**because it happened to be a multiple schools’ matinee, and kept very attentive: plenty of boys of an age vulnerable to Mr Tate, plenty of girls in hijabs. Outside a couple of them were arguing excitedly about it all. Honour to the unsubsidized Wilton's for reclaiming the political-music hall spirit, and getting the kids in too.** (_ ★★★★ Theatre Cat). The outstanding one person _**Hamlet**_ , which received a host of five-star reviews and Fringe Theatre Award nominations, _**A completely exhilarating performance, this production is an absolute triumph of pure, thrilling theatre and one of the most exceptional pieces of acting I have ever seen. Don't miss it!** (_ ★★★★★ North West End). Wilton’s also presented, _**Run At It Laughing**_ , ten new plays by playwrighting legend Mark Ravenhill and performed by over 100 actors, _**A wonderful revisit to traditional comedy theatre, Run At It Laughing, with Mark Ravenhill at the helm, promises a good and amusing time to be had. Audiences will be treated to laughter every few minutes, allowing them to partake in a silly, filthy show.** (_ ★★★★ Adventures in Theatreland). Summer exceeded Box Office target and included the sensational sold out _**Gill Hicks’ Still Alive and Kicking;**_ Gill lost her legs and nearly her life in the 2005 London bombings and performed her show at Wilton’s on the 20[th] anniversary of this tragedy, _**A much-garlanded peace advocate and public speaker, Hicks is a winning narrator, balancing details of the sheer horror of the terrorist attack with stories of connection and love.** (_ ★★★★★ The Standard). The year was rounded off with Charles Court Opera’s _**Patience,**_ Anton Lesser performing both Laurie Lee and Thomas Hardy and the extraordinary Ben Hart, _**his act is so surreal, so seemingly impossible, so mesmerising, you’d be ever so silly to miss it. Go seek him out and support some real-life wizardry.** (_ ★★★★★ Spy in the Stalls). 

2024-25 saw a diverse range of artists joining us for the _**Plays without Décor**_ scheme, for emerging artists, and the Research and Development programme for mid-career artists. Wilton’s continued our regular heritage tours all of which sold-out. 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **Achievements and performance** 

## **a. Performance in the year** 

We are committed to robust evaluation, measuring the organisation both internally and externally. In the continuing challenges faced by the arts we aim to maximise our creative impact while preserving our financial security. 

This year our performance against key objectives has been as follows: 

- Production - quality of productions received; we have had a strong year artistically and we are extremely pleased with ticket sales. We continued our strategic approach of hosting an external Christmas production to allow us greater capacity across the rest of the organisation; 

- Building and Operations - meeting legal and regulatory obligations. Having completed an eco-audit in 202324 we successfully raised funds to install an entirely new LED rig in January 2025 and began plans to reimagine our HVAC in 2026. We also upgraded our fire and intruder alarm systems, as well as prioritising essential building maintenance; 

- Communication and Development – honing our digital marketing strategy which in turn has seen a marked increase in Box Office sales. A year on our new website continues to encourage public engagement with the organisation and we are constantly improving and updating as technology allows. Finessing the Development Department, still led by a Development Associate, with the General Manager now taking on administrative duties, proving to be cost-effective and financially and strategically successful; 

- Artistic Engagement – offering Creative Residencies for mid-career artists. Producing our Plays without Décor scheme for emerging artists. Offering regular heritage tours for our community. 

- Finance and Legal - from a financial perspective, 2024-25 saw a significant increase in Box Office takings from the previous year. Wedding hires exceeded target but commercial hires were quieter than previous years in the summer months. The new sustainable LED lighting rig has helped reduce energy costs. We have retained our desired level of unrestricted reserves through determined financial planning. We continued to maintain strong Human Resources and Health and Safety policies throughout the year. 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **b. Review of activities 2024 – 2025** 

Wilton’s is extremely proud of the cultural contribution throughout 2024-25 with a international and youth-filled autumn season, a financially and critically successful spring and summer season, with a diverse range of work and a continued commitment to affordable tickets. 

- Played to 62,818 audience members with 323 performances; 

- Supported 60 different productions and companies including work from: Camille O’Sullivan, Charles Court Opera, Classical Pride, Harry Hill, Hull Truck Theatre, Kate Butch, London Contemporary Dance School, London Gay Big Band, Mark Ravenhill, National Youth Theatre, Opera della Luna, Orchestra of the Swan, Pilot Theatre, Släpstick, The Fourth Choir and The Swingles to name but a few; 

- Continued to strengthen our engagement programme, working with emerging and mid-career artists and offering heritage tours again to the public. 

- Promoted a range of ticket prices with 54.4% of our tickets being £25 and under; 

- Remained the preeminent arts venue in the East End, providing world-class public activities as well as sustaining the fabric of the building. 

_**It really is an intelligent piece of literary theatre crafted and presented by people who care about words and music. And it felt right at home in the delightfully authentic surrounds of Wilton’s Music Hall.** (_ _**★★★★★** Arts Hub, George Eliot in Words and Music with Harriet Walter_ _**)**_ 

After the success of the Christmas production of _**Potted Panto**_ in 2024, Wilton’s took the strategic decision to produce this show again in association with James Seabright. The show exceeded Box Office targets and grossed more than £50,000 more than the previous year, cementing its popularity with our audiences. We also raised money so that 350 local school children and their teachers were able to watch the show for free. 

_**A sensational seasonal show** (_ **★★★★★** Spy in the Stalls, Potted Panto **)** 

Success stories in the 2024-25 financial year included: 

The unique Släpstick’s _**Schërzo** ,_ combining world class musicians, exceptional physical theatre and mischief; National Youth Theatre’s performance of _**The War of the Worlds**_ with 18 exceptional young actors, with BSL and relaxed performances; 

_The critical and financial success of_ _**The Pirates of Penzance** ,_ _**The very model of a night of pure joy.** (_ _**★★★★★** Curtain Call Reviews_ _**)**_ 

Tim Key’s sold-out _**Christmas Bimbo**_ ; the four performances sold-out in under twenty-four hours; Nimah Cusack and the Fourth Choir’s sold-out presentation of James Joyce’s _**The Dead;**_ 

Harry Hill’s sold-out _**New Bits and Greatest Hits**_ ; the show was so popular we added an extra performance; _**The Play’s the Thing – A One-Person Hamlet,**_ which received three Fringe Theatre Award nominations and a multitude of five star awards from Theatre Cat, The Upcoming, Everything Theatre A Youngish Theatre and London Pub Theatres Magazine, _**A Hamlet that stands alone... consummate acting in a brave, maverick performance as Mark Lockyer reprises his much-admired rendering of the whole of Hamlet in 95 minutes, alone, propless, emotionally invested to an almost frightening degree. It is, in short, magnificent. Not one to miss.** (_ ★★★★★ Theatre Cat); 

Mark Ravenhill’s ten new plays _**Run At It Laughing**_ which filled Wilton’s with laughter and actors for two days; _**Gill Hicks’ Still Alive and Kicking There's a standing ovation during which she brings on her daughter. "So, what has 20 years meant? I made a solemn vow in that Tube carriage that if I were to survive then I would live life in its best moments. I don't want to harbour hatred or bitterness; the people who saved me are my role models. I want to remind us of our shared humanity."** (_ ★★★★★ The Standard) _London Gay Big Band’s sold-out_ _**A Night at the Musicals** , with a 20-piece jazz band and a host of West-End stars._ 

_**The Play’s the Thing – A One-Person Hamlet,**_ received Fringe Theatre nominations for: Best Solo Performance in a Play, Best Director (Play), Best Lighting; _**The Magic Flute**_ received an Assessor’s Choice for the Offies; _**Patience**_ received Fringe Theatre nominations for: Best Opera Performance, Best Opera Production, Best Opera Design. 

We continued to extend our engagement programme. _**The War of the Worlds**_ , _**Bradley, Flowers, Smithereens**_ , _**Mary and the Hyenas**_ , _**Song Queen: A Pidgin Opera**_ had a mixture of BSL, relaxed and accessible performances. _**The War of the Worlds, Bradley, Flowers, Smithereens**_ , _**Mary and the Hyenas**_ , _**The Play’s the Thing – A OnePerson Hamlet**_ all offered heavily discounted schools’ tickets, with Wilton’s raising £3,500 to pay for local school tickets from January – September 2025 across a range of shows. 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

Family shows included _**Potted Panto**_ with Wilton’s actioning 350 free tickets to local schools, National Youth Theatre’s _**The War of the Worlds**_ , London Contemporary Dance School’s _**Bradley, Flowers, Smithereens**_ , Pilot Theatre and Hull Truck’s _**Mary and the Hyenas**_ and _**The Amazing Ben Hart**_ . Wilton’s had a full programme of Plays without Décor and mid-career Creative Residences throughout the year. We continued our programme of public heritage tours which proved ever popular. 

Wilton’s receives no regular public subsidy and prides itself on being self-sustaining. At the current time the financial landscape for the arts and hospitality remains difficult, in-spite of which with our dedicated team and the support of generous donors, trusts and foundations we have succeeded in celebrating world-class theatre and music across the year, with a host of wonderful reviews, awards and nominations. 

Wilton’s was awarded the **Hitched Wedding Award for Unique and Unusual Venue in London** in 2025, with wedding hires proving strong this year. Commercial hires were good in the first part of the year but faltered a little towards the end of the financial year. That said we are pleased with this year’s trading income but will continue to carefully monitor public trends. 

_**If you haven’t discovered the amazing Wilton’s Music Hall then you are in for a treat… it’s a truly unique venue with so much history and character, getting married there is like a theatre production.**_ (Rockmywedding.co.uk) 

Wilton’s completed an eco-audit in 2024 which identified as a major priority the reduction of energy consumption. For a Grade II* listed building in the heart of London, improving energy efficiency poses a particular challenge but one that we embraced with vision and determination. Our primary focus became the Hall’s theatre lighting rig, which underpins our busy programme of productions and events. We committed to replacing the existing tungsten lighting system with a fully LED theatrical rig; a solution that dramatically cuts energy usage. This ambitious project directly supports SDG7 goals, promoting energy efficiency and reducing carbon emissions and it also stands to save us a significant amount on energy bills. The success of this initiative was made possible through close collaboration with ETC, Stage Electrics and lighting designer Guy Hoare, who worked alongside us to design and install a lighting rig tailored to our venue’s unique demands. Impressively, the project also involved upgrading existing equipment; replacing lamp units with LED alternatives, thereby avoiding unnecessary waste and cost. 

The installation was completed in January 2025 and has already delivered transformative results, significantly reducing our environmental impact and setting a benchmark for what is possible in heritage venues. This remarkable achievement would not have been possible without the generous support of the International Music and Arts Foundation, whose support enabled Wilton’s to take this critical step forward. Wilton’s has shown that meaningful sustainability is not only possible, but essential, even in a historic building with complex operational needs. 

As recognition of this Wilton’s was nominated for the **ABBT Award for Environmental Sustainability** 2025. 

## **Financial review** 

The Group results for the year to 30 September 2025 are shown on page 16. The net movement in funds was a surplus of £120,896 (2024: deficit £50,194). Due to a strong Box Office and recovering weddings, alongside the generosity of donors the unrestricted funds surplus was £103,347 (2024: surplus £19,244). The surplus on restricted funds is £17,549 (2024: £69,438 deficit). Voluntary income generated from appeals and donations, sponsorship, Wilton's Patrons and Friends, was £257,783 (2024: £164,968), of which £93,200 was restricted. 

In the year to 30 September 2025, Wilton's chose not to commission any in-house productions. Commercial activities operate through Wilton's trading subsidiary Mahogany Bar @ Wilton's Limited (Company Number 08284349). This company achieved a surplus of £285,260 (2024: £272,492). In a typical year, a combination of productions and events, weddings and theatre bookings generate significant commercial income in Wilton’s trading subsidiary. In 2024-25, weddings were greatly improved from 2024-25, but bar takings continue to be impacted by cost-of-living-crisis and the continuing trend to work from home. Mahogany Bar @ Wilton's Ltd made distributions of £288,523 (2024: £272,492) to Wilton's, the parent charity. 

The Group net asset position at 30 September 2025 was £4,418,148 (2024: £4,297,252) as shown on page 17. 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **Going Concern** 

After making appropriate enquiries, the Trustees have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the Accounting Policies. 

Robust financial management continues to ensure that Wilton’s has maintained a reasonable level of reserves. The Trustees will continue to monitor and review Wilton’s financial position. Throughout this financial year and into the next, the priority will remain to sustain our financial position to ensure Wilton’s Music Hall as a place for everyone with a curious imagination. 

## **Reserves Policy** 

The Trustees continually review the financial performance and outlook and with management consider the risks surrounding the core operating and trading activities. The Trustees are confident that moving forward they will continue to offer attractive core charitable activities, as well as maintain profitable trading activities to meet monthly working capital requirements and liabilities as they fall due. The reserves policy is to maintain a level of unrestricted funds to enable Wilton's to respond to any unforeseen changes in income and provide a reserve for maintenance of the property. The Trustees have assessed the risks affecting the income and expenditure of the Charity and they have agreed that a minimum level of free reserves of approximately four to six months of operating costs, should be maintained. The level of reserves reflects unrestricted fund balances at year-end less designated funds and are within the target level of reserves. The balance at the year-end amounted to £1,140,130 (2024: £1,064,073). 

## **Plans for future periods** 

## **a. Future developments** 

Autumn 2025 includes _**MUSIK**_ by Jonathan Harvey with music from Pet Shop Boys, directed by Terry Johnson and starring Frances Barber. This is followed by a return from the Tiger Lillies, the UK premiere of _**The Enigmatist**_ with renowned magician and The New York Times crossword constructor David Kwong, Tim Key’s _**Loganberry,**_ Nathanial Parker’s rendition of _**The Wasteland**_ and Olivier nominated _**Potted Panto**_ produced by James Seabright in association with Wilton’s Music Hall. 

_**Spinal Tap meets Andy Warhol with Frances Barber as Billie Trix, a fictional 1960s Berlin-born singer with Forrest Gump’s talent for encountering key moments in cultural history, and beautifully disturbing songs by Pet Shop Boys** (_ **★★★★** Sunday Times, MUSIK **)** 

We hope that in spring 2026 we will be able to complete the second part of our sustainability project with a complete overhaul of our HVAC. The plan is to upgrade our air handling unit and install a cooling coil, enabling cool air to be circulated in the summer months in the Hall. We will install 3 reverse-cycle heat pumps to provide sufficient heating and cooling via the air handling unit. This would provide conditioned air to the Hall to maintain comfortable conditions during performances and hires. We would then decommission and remove the gas-fired boiler. The heat pump heating of the Hall air conditioning in place of the gas boiler would result in lower CO2 emissions, of about 3040%. 

Spring 2026 shows will include: _**Baldwin vs Buckley**_ , Charles Court Opera’s celebrated _**Iolanthe**_ , John Godber’s _**Do I Love You**_ and a new musical _**Ruth**_ , based on the life of Ruth Ellis the last woman to be executed in the UK in 1955. Summer will include comedians John Kearns and John Tothill, Sh!t Theatre’s extraordinary _**Drink Rum with Expats**_ , a new version of _**Mrs Dalloway**_ and a return from Spitafields Music Festival. 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **Structure, governance and management** 

## **a. Constitution** 

Wilton's is registered as a charity with the Charity Commission in England and Wales (Registration number: 1003041) and as a Company Limited by Guarantee with Companies House (Registration number: 02553922) and is governed by its Memorandum and Articles of Association which were adopted on 31 October 1990 and updated on 9 July 2012 and on 18 July 2016. 

Wilton's is the sole shareholder of subsidiary company, Mahogany Bar @ Wilton's Ltd. 

Board sub-Committees include a Finance Committee, a Development Council, a Human Resources and Health and Safety Committee and a Nominations Committee. 

The Executive Director (CEO) is appointed by the Trustees to manage the day-to-day operations of Wilton's.  The Executive Director is responsible for implementing the policy and strategy adopted by and within the annual budget approved by the Trustees and as necessary to advise the Trustees in relation to such policy, strategy and budget. 

The Board meet four times during the year. The Trustees receive reports from the respective Committee Chairs and Executive. 

In the period covered by this report, the charity did not engage the services of any professional fundraisers or commercial participators to raise funds or conduct activities of the charity. 

## **Trustees** 

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were: 

Dr John Gayner James Heaton Andrew Makin George Marsh (Chair) William Taylor Mark Tierney Anne Vallely Mark Rhodes 

## **b. Method of appointment or election of Trustees** 

As set out in the Articles of Association new trustees are appointed by the existing trustees by way of a Trustees' resolution. There must be at least three trustees and a maximum of twelve. 

## **c. Policies adopted for the induction and training of Trustees** 

New trustees are provided with information on their role and responsibilities as a trustee, together with a copy of the Articles of Association and the latest audited Report and Financial Statements and Management Accounts.  They meet with the existing trustees to gain insight into the operations of the Charity before being formally invited to join the Board of Trustees. Trustees are kept up to date as appropriate with developments within the Charity and the sector and further training will be organised when appropriate. 

## **d. Pay policy for senior staff** 

As shown in Note 11 to the accounts, the Charity considers its key management personnel to be the Trustees, the Executive Director (CEO), the Head of Operations and Commercial Services, Director of Estates, Facilities and Technical, Head of Technical and Facilities and the General Manager. All Trustees give their time freely and no Trustee received remuneration in the year except as noted in Note 11 to the accounts. No Trustee was reimbursed expenses in the year (2024: £Nil). The remuneration of the Executive Director (CEO) is agreed by the Trustees, with the Executive Director (CEO) deciding the remuneration of the staff posts referred to above. 

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## **WILTON'S MUSIC HALL** 

## **TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **e. Risk Management** 

The Trustees are confident that the major financial and non-financial risks faced by the organisation are being suitably managed with systems and procedures being put in place to address and mitigate these risks on an on-going basis, including the on-going risk posed by the cost-of-living crisis. The Executive Director annually updates the Risk Register and it is reviewed by the Board. 

The Trustees consider that the principal risks faced by the Charity are: 

- The possibility of not achieving targeted commercial activity and not maintaining and building our audience levels. As part of mitigating these risks, we have in post a Head of Operations and Commercial Services who is dedicated to the trading business of the organisation. In addition, we have a heightened digital marketing strategy to promote a high-quality cultural programme. 

- A reduction in subsidy from Trusts and Foundations due to donor fatigue and increase in requests because of the cost-of-living crisis. We have been pleased with the response to Wilton’s fundraising achievements in this financial year and will continue in the future to create specific project funding applications and will build on the new funding contacts made during the pandemic to assist us in mitigating this risk. 

The objective of the Group is to manage price, liquidity and cash flow risks (including those identified above) to ensure that it can meet its liabilities as they fall due. It does this through regular preparation and review of cash flows and management accounts and through oversight by the Finance Committee which reports to the Board, taking external professional advice where required. 

## **f. Related party relationships** 

There were no related party transactions other than as disclosed in Note 23 to the accounts. Trustees are obliged to disclose any related parties or conflicts of interest and may not take part in any vote at meetings which involves decisions being made in respect of agreements or otherwise with these parties. 

The Charity's wholly owned subsidiary, Mahogany Bar@ Wilton's Ltd was established to operate a bar, catering and provision of commercial room hire. In addition, the Directors of that company have commenced production services and commercial supply of these individual production trades to the Charity. Mahogany Bar @ Wilton's Ltd has a licence from the Charity to operate those facilities and gifts all its profits to the Charity. See Note 25 to the accounts. 

## **Auditor** 

The auditors, MHA, have indicated their willingness to continue in office. The Designated Trustees will propose a motion re-appointing the auditors at a meeting of the Trustees. 

The trustees' report was approved by the Board of Trustees. 

The Charity has taken advantage of the small companies exemption. 

.............................. 

George Marsh (Chair) **Chair of trustees** 

Date: .............................................15 June 2026 

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## **WILTON'S MUSIC HALL** 

## **STATEMENT OF TRUSTEES' RESPONSIBILITIES** 

## _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

The trustees, who are also the directors of Wilton's Music Hall for the purpose of company law, are responsible for preparing the Trustees' Report and the 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 financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year. 

In preparing these financial statements, the trustees are required to: 

- select suitable accounting policies and then apply them consistently; 

- observe the methods and principles in the Charities SORP; 

- make judgements and estimates that are reasonable and prudent; 

- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and 

- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation. 

The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity 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 charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 

At the time of approving these reports, as far as the trustees are aware: 

a) they have taken all the necessary steps to ensure that they are aware of any relevant audit information and to confirm that the auditors are aware of any such information and; 

b) there is no relevant audit information of which the auditors are unaware. 

The financial statements were approved by the Trustees on ................................15 June 2026 


.............................. .............................. George Marsh (Chair) Andrew Makin (Trustee) 

- 10 - 



## **WILTON'S MUSIC HALL** 

## **INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WILTON'S MUSIC HALL** 

## **Opinion** 

We have audited the financial statements of Wilton’s Music Hall (the ‘parent charitable company’) and its subsidiaries (the ‘group’) for the year ended 30 September 2025 which comprise the Consolidated Statement of Financial Activities, the Group and Charity Balance Sheets, the Consolidated Statement of Cash Flows and notes to the financial statements, including significant accounting policies.  The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 _The Financial Reporting Standard applicable in the UK and Republic of Ireland_ (United Kingdom Generally Accepted Accounting Practice). 

In our opinion the financial statements: 

- give a true and fair view of the state of the group’s and parent charitable company’s affairs as at 30 September 2025, and of the group’s incoming resources and application of resources, including its income and expenditure, for the year then ended; 

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and 

- have been prepared in accordance with the requirements of the Companies Act 2006. 

## **Basis for opinion** 

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the audit of the financial statements section of our report. 

We are independent of the group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements.  We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. 

## **Conclusions relating to going concern** 

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Our evaluation of the Trustees’ assessment of the group’s and parent charitable company’s ability to continue to adopt the going concern basis of accounting included critical reviews of budgets and forecasts provided. 

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group’s and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. 

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report. 

- 11 - 



## **WILTON'S MUSIC HALL** 

## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WILTON'S MUSIC HALL** 

## **Other information** 

The Trustees are responsible for the other information.  The other information comprises the information included in the annual report, other than the financial statements and our auditor’s report thereon.  Our opinion on the financial 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. 

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. 

We have nothing to report in this regard. 

## **Opinions on other matters prescribed by the Companies Act 2006** 

In our opinion, based on the work undertaken in the course of the audit: 

- the information given in the Trustees’ report (incorporating the Directors’ report) for the financial year for which the financial statements are prepared is consistent with the financial statements; and 

- the Trustees’ report (incorporating the Directors’ report) has been prepared in accordance with applicable legal requirements. 

## **Matters on which we are required to report by exception** 

In the light of our knowledge and understanding of the group and parent charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Directors’ report. 

We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion: 

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or 

- the financial statements are not in agreement with the accounting records and returns; or 

- certain disclosures of Directors’ remuneration specified by law are not made; or 

- we have not received all the information and explanations we require for our audit; or 

- the Trustees were not entitled to prepare the financial statements in accordance with the small companies’ regime and take advantage of the small companies’ exemptions in preparing the Directors’ report and from the requirement to prepare a Strategic Report. 

- 12 - 



## **WILTON'S MUSIC HALL** 

## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WILTON'S MUSIC HALL** 

## **Responsibilities of trustees** 

As explained more fully in the Trustees’ responsibilities statement included in the Trustees’ Annual Report, the Trustees (who are also the Directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. 

In preparing the financial statements, the Trustees are responsible for assessing the group’s and parent charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so. 

## **Auditor's responsibilities for the audit of the financial statements** 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement 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 influence the economic decisions of users taken on the basis of these financial statements. 

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud is detailed below: 

- Obtaining an understanding of the legal and regulatory frameworks that the group and parent charitable company operates in, focusing on those laws and regulations that had a direct effect on the financial statements; 

- Enquiry of management to identify any instances of known or suspected instances of fraud; 

- Enquiry of management and those charged with governance around actual and potential litigation and claims; 

- Enquiry of management about any instances of non-compliance with laws and regulations; 

- Reviewing the control systems in place and testing the effectiveness of the controls; 

- Performing audit work over the risk of management override of controls, including testing of journal entries and other adjustments for appropriateness; 

- Evaluating the business rationale of significant transactions outside the normal course of business and reviewing accounting estimates for bias; 

- Reviewing minutes of meetings of those charged with governance; 

- Reviewing financial statement disclosures and testing to supporting documentation to assess compliance with applicable laws and regulations. 

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation.  This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. 

_A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council’s website at: https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-andguidance/Standards-and-guidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditorsresponsibilities-for-audit.aspx. This description forms part of our auditor’s report._ 

- 13 - 



## **WILTON'S MUSIC HALL** 

## **INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WILTON'S MUSIC HALL** 

## **Use of this report** 

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose.  To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed. 


## **Stuart McKay BSc FCA DChA (Senior Statutory Auditor)** 

For and on behalf of 

......................... **MHA** Statutory Auditor 2 London Wall Place London, United Kingdom Barbican London Date: 15/06/2026 EC2Y 5AU 

MHA are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542). 

- 14 - 



## **WILTON'S MUSIC HALL** 

## **CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** 

## _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2025**<br>**2025**<br>**Notes**<br>**£**<br>**£**<br>**Income from:**<br>Donations and legacies<br>**3**<br>164,583<br>93,200<br>Charitable activities<br>**4**<br>1,387,209<br>-<br>Other trading activities<br>**5**<br>808,614<br>-<br>Investments<br>**6**<br>4,352<br>-<br>**Total income**<br>2,364,758<br>93,200<br>**Expenditure on:**<br>Raising funds<br>**7**<br>265,968<br>-<br>Charitable activities<br>**8**<br>1,995,443<br>75,651<br>**Total expenditure**<br>2,261,411<br>75,651<br>**Net income/(expenditure) for**<br>**the year/**<br>**Net movement in funds**<br>103,347<br>17,549<br>Fund balances at 1<br>October 2024<br>1,236,864<br>3,060,388<br>**Fund balances at 30**<br>**September 2025**<br>1,340,211<br>3,077,937|**Total**<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2025**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**£**<br>257,783<br>164,968<br>-<br>1,387,209<br>1,204,453<br>-<br>808,614<br>767,397<br>-<br>4,352<br>1,360<br>-<br>2,457,958<br>2,138,178<br>-<br>265,968<br>275,400<br>-<br>2,071,094<br>1,843,534<br>69,438<br>2,337,062<br>2,118,934<br>69,438<br>120,896<br>19,244<br>(69,438)<br>4,297,252<br>1,217,620<br>3,129,826<br>4,418,148<br>1,236,864<br>3,060,388|**Total**<br>**2024**<br>**£**<br>164,968<br>1,204,453<br>767,397<br>1,360<br>2,138,178<br>275,400<br>1,912,972<br>2,188,372<br>(50,194)<br>4,347,446<br>4,297,252|
|---|---|---|



The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. 

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006. 

- 15 - 



## **WILTON'S MUSIC HALL** 

## **CONSOLIDATED BALANCE SHEET** 

## _**AS AT 30 SEPTEMBER 2025**_ 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**13**<br>Heritage assets<br>**14**<br>**Current assets**<br>Stocks<br>**15**<br>Debtors<br>**16**<br>Cash at bank and in hand<br>**Creditors: amounts falling due within**<br>**one year**<br>**17**<br>Net current assets<br>**Total assets less current liabilities**<br>**Income funds**<br>Restricted funds<br>**20**<br>Unrestricted funds<br>Designated funds<br>**21**<br>General unrestricted funds|**2025**<br>**£**<br>**£**<br>230,132<br>3,120,787<br>3,350,919<br>11,140<br>154,700<br>1,627,980<br>1,793,820<br>(726,591)<br>1,067,229<br>4,418,148<br>3,077,936<br>200,082<br>1,140,130<br>1,340,212<br>4,418,148|**2024**<br>**£**<br>**£**<br>168,961<br>3,190,225<br>3,359,186<br>7,084<br>211,869<br>1,460,511<br>1,679,464<br>(741,398)<br>938,066<br>4,297,252<br>3,060,388<br>172,791<br>1,064,073<br>1,236,864<br>4,297,252|**2024**<br>**£**<br>**£**<br>168,961<br>3,190,225<br>3,359,186<br>7,084<br>211,869<br>1,460,511<br>1,679,464<br>(741,398)<br>938,066<br>4,297,252<br>3,060,388<br>172,791<br>1,064,073<br>1,236,864<br>4,297,252|
|---|---|---|---|
||||3,359,186<br>938,066|
||||4,297,252|
||||3,060,388<br>1,236,864|
||||4,297,252|



The group's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

15 June 2026 The financial statements were approved by the Trustees on ......................... .............................. .............................. George Marsh (Chair) Andrew Makin (Trustee) Chair Chair 

- 16 - 



## **WILTON'S MUSIC HALL** 

## **CHARITY BALANCE SHEET** 

## _**AS AT 30 SEPTEMBER 2025**_ 

|**Notes**<br>**Fixed assets**<br>Tangible assets<br>**13**<br>Heritage assets<br>**14**<br>Shares in group undertaking<br>**25**<br>**Current assets**<br>Debtors<br>**16**<br>Cash at bank and in hand<br>**Creditors: amounts falling due within**<br>**one year**<br>**17**<br>Net current assets<br>**Total assets less current liabilities**<br>**Income funds**<br>Restricted funds<br>Unrestricted funds|**2025**<br>**£**<br>**£**<br>230,132<br>3,120,787<br>100<br>3,351,019<br>681,005<br>459,008<br>1,140,013<br>(504,326)<br>635,687<br>3,986,706<br>3,077,936<br>908,770<br>3,986,706|**2024**<br>**£**<br>**£**<br>168,961<br>3,190,225<br>100<br>3,359,286<br>499,170<br>511,694<br>1,010,864<br>(504,340)<br>506,524<br>3,865,810<br>3,060,388<br>805,422<br>3,865,810|**2024**<br>**£**<br>**£**<br>168,961<br>3,190,225<br>100<br>3,359,286<br>499,170<br>511,694<br>1,010,864<br>(504,340)<br>506,524<br>3,865,810<br>3,060,388<br>805,422<br>3,865,810|
|---|---|---|---|
||||3,359,286<br>506,524|
||||3,865,810|
||||3,060,388<br>805,422|
||||3,865,810|



The company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. 

The financial statements were approved by the Trustees on .........................15 June 2026 


.............................. George Marsh (Chair) 


.............................. Andrew Makin (Trustee) 

- 17 - 



## **WILTON'S MUSIC HALL** 

## **CONSOLIDATED STATEMENT OF CASH FLOWS** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

|**Notes**<br>**Cash flows from operating activities**<br>Cash generated from operations<br>**26**<br>**Investing activities**<br>Purchase of tangible fixed assets<br>**Net cash used in investing activities**<br>**Net increase in cash and cash equivalents**<br>Cash and cash equivalents at beginning of year<br>**Cash and cash equivalents at end of year**|**2025**<br>**£**<br>**£**<br>260,669<br>(93,200)<br>(93,200)<br>167,469<br>1,460,511<br>1,627,980|**2024**<br>**£**<br>**£**<br>269,224<br>(9,892)<br>(9,892)<br>259,332<br>1,201,179<br>1,460,511|
|---|---|---|



- 18 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **1 Accounting policies** 

## **Charity information** 

Wilton's Music Hall is a private company limited by guarantee incorporated in England and Wales. The registered office is Wilton's Music Hall, Graces Alley, London, E1 8JB. 

## **1.1 Basis of preparation** 

The financial statements have been prepared in accordance with the charity's governing document,  the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)". The charity is a Public Benefit Entity as defined by FRS 102. 

The financial statements are prepared in Pound Sterling which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. 

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. 

## **Basis of Consolidation** 

The financial statements consolidate the accounts of Wilton’s Music Hall and all of its subsidiary undertakings (‘subsidiaries’). The income and expenditure account for the year dealt with in the consolidated accounts was a surplus of £120,896 (2024: £50,194 deficit). 

No separate SOFA has been presented for the Charity alone as permitted by Section 408 of the Companies Act 2006 and paragraph 397 of the SORP. The deficit for the Charity alone for the year ended 30 September 2025, before profit distribution from Mahogany Bar @ Wilton's Ltd, was £167,627 (2024: £322,687 deficit). 

## **1.2 Going concern** 

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements. 

## **1.3 Charitable funds** 

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. 

Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements. 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. 

## **1.4 Income** 

All income is recognised once the company has entitlement to the income, it is probable that the income will be received, and the amount of income receivable can be measured reliably. 

- 19 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **1 Accounting policies** 

**(Continued)** 

## **1.5 Expenditure** 

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings: 

a) Cost of raising funds comprise of costs of direct fundraising and the costs of commercial trading including the bar and theatre hire and their associated support costs. 

b) Expenditure on charitable activities includes the cost of performances, educational and heritage activities and other activities undertaken to further the purpose of the charity and their associated support costs. c) Other expenditure represents those items that do not fall into either of the above categories. 

Support costs are those functions that assist the work of the Group but do not directly undertake charitable activities. These include office and maintenance costs, finance, administration and governance costs which support Wilton’s Music Hall’s artistic, educational, heritage programs and activities and commercial operations. Governance costs are those costs associated with the constitutional and statutory requirements of the charity. Governance costs are those incurred in connection with administration of the company and compliance with constitutional and statutory requirements. 

## **Heritage Assets** 

In 2012, the assets and liabilities of Wellclose Square Building Preservation Trust Ltd were transferred to the charity. Within the assets was the property known as Wilton’s Music Hall, which has been included at its net book value. Significant capital improvements have been undertaken in past financial years and initially these works were being capitalised within fixed assets as property improvements. The Trustees reviewed the position and considered that it would be more reflective of the actual property asset held to add capital works to the cost of the heritage building. On this basis, a transfer was made between fixed assets and heritage assets as at 30 September 2015. 

The property improvements are being depreciated over the expected useful economic life of these works over the next 50 years. The Trustees consider it is not possible to value the original building transferred due to it being a unique building which was in a poor state of repair on transfer. In addition, it is not considered a good use of charity money to attempt to obtain a valuation of such in its original transfer state. 

Wilton’s Music Hall has a collection of archive material consisting of approximately 200 boxes of paper records, photographs, and assorted multimedia including CD, DVD and audio cassette tapes, and electronic records. The material ranges from the mid-1960s through to the present. The majority of the material has been created by organisations or bodies associated with the campaign to save and restore Wilton’s, and with its use as a venue by organisations that have been resident at Wilton’s. There are also items, or small collections of material, which have been donated to the archive because of their relevance to Wilton’s which date from 1871 to the present day. 

Wilton’s also has a collection of fittings and artefacts thought to be from 18th to early 19th Century. These were found at Wilton’s prior to the restoration work being carried out in the 1980s and more recently in 2012. These include a variety of objects such as pottery and moulded plaster decorations. 

The archive and collections are added to through internal transfer of records and through donations from the public. The collections have been stored at the V&A in secure archive boxes which are listed. 

A lack of comparable market values for the collection makes obtaining a meaningful valuation extremely difficult therefore, no value has been included within these financial statements for the collection. 

## **1.6 Tangible fixed assets** 

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. 

- 20 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **1 Accounting policies** 

**(Continued)** 

All assets costing more than £2,000 (or £500 in the case of items that combine to make a larger piece of equipment, or assets such as computer equipment) or more are capitalised at cost. 

A review for impairment of a fixed asset is carried out if events or changes in circumstances indicate that the carrying value of any fixed asset may not be recoverable. Shortfalls between the carrying value of fixed assets and their recoverable amounts are recognised as impairments. Impairment losses are recognised in the Consolidated Statement of Financial Activities incorporating Income and Expenditure Account. 

Tangible fixed assets are carried at cost, net of depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated residual value, over their expected useful lives on the following bases: 

Musical instruments 12.5% straight line Fixtures and fittings 10% straight line Computers 20%-33% straight line 

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities. 

## **1.7 Impairment of fixed assets** 

At each reporting end date, the charity 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 is estimated in order to determine the extent of the impairment loss (if any). 

## **1.8 Stocks** 

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow–moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. 

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution. 

## **1.9 Cash and cash equivalents** 

Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. 

## **1.10 Financial instruments** 

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments. 

Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

- 21 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **1 Accounting policies** 

## **(Continued)** 

## _**Basic financial assets**_ 

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 

## _**Basic financial liabilities**_ 

Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method. 

## _**Derecognition of financial liabilities**_ 

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled. 

## **1.11 Retirement benefits** 

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. 

## **2 Critical accounting estimates and judgements** 

Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. 

Whilst there are estimates and judgements made in respect of the recognition of multi-year grant and donation income in any given one year and in respect of the results of productions that straddle year end, the trustees consider that none of these or other perceived risks would lead to a material misstatement of the financial statements. 

## **3 Donations and legacies** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2025**<br>**2025**<br>**£**<br>**£**<br>Appeals and donations<br>148,153<br>93,200<br>Subscriptions<br>16,430<br>-<br>164,583<br>93,200|**Total**<br>Unrestricted<br>funds<br>**2025**<br>2024<br>**£**<br>£<br>241,353<br>149,319<br>16,430<br>15,649<br>257,783<br>164,968|**Total**<br>Unrestricted<br>funds<br>**2025**<br>2024<br>**£**<br>£<br>241,353<br>149,319<br>16,430<br>15,649<br>257,783<br>164,968|
|---|---|---|
|||164,968|



- 22 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

|**4**|**Charitable activities**|||
|---|---|---|---|
|||**Unrestricted**|<br>**Unrestricted**|
|||**funds**|**funds**|
|||**2025**|**2024**|
|||**£**|**£**|
||Productions, Events and Educational Activities|1,387,209|1,204,453|
|**5**|**Other trading activities**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2025**|2024|
|||**£**|£|
||Bar and Merchandise Sales|524,058|499,935|
||Theatre Hire|284,556|267,462|
||Total other trading activities|808,614|767,397|
|**6**|**Investment income**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2025**|2024|
|||**£**|£|
||Interest receivable|4,352|1,360|
|**7**|**Raising funds**|||
|||**Unrestricted**|Unrestricted|
|||**funds**|funds|
|||**2025**|2024|
|||**£**|£|



- 23 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

|**7**|**Raising funds**<br>Trading costs<br>Purchases<br>Other commercial trading costs<br>Trading costs<br>Bank charges|**(Continued)**<br>199,924<br>198,589<br>52,485<br>46,580<br>252,409<br>245,169<br>13,559<br>30,231<br>265,968<br>275,400|**(Continued)**<br>199,924<br>198,589<br>52,485<br>46,580<br>252,409<br>245,169<br>13,559<br>30,231<br>265,968<br>275,400|
|---|---|---|---|
||||245,169|
||||30,231|
||||275,400|



- 24 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **8 Charitable activities** 

||**Charitable**|**Charitable**|
|---|---|---|
||**Activities**|**Activities**|
||**2025**|**2024**|
||**£**|**£**|
|Staff costs|641,773|605,577|
|Depreciation|101,466|94,413|
|Direct costs|810,957|702,721|
|Production expenses|5,729|8,308|
|Freelance staff|11,271|16,055|
|Rates and water|15,392|5,928|
|Light and heat|39,349|54,427|
|Insurance|43,631|45,504|
|Subscriptions|3,510|3,165|
|Repairs and renewals|99,287|57,088|
|Household and cleaning|73,106|71,325|
|Computer costs|9,846|29,260|
|Advertising|20,541|20,759|
|Accountancy|45,594|41,872|
|Licences|9,831|9,470|
|Legal fees|650|-|
|Post and stationery|183|258|
|Spektrix commission|59,041|51,704|
|Sundry expenses|1,505|1,193|
|Telephone|1,909|2,455|
|CGS VAT expense|16,561|16,561|
|Bank charges|41,052|57,079|
||2,052,184|1,895,122|
|Share of governance costs (see note 9)|18,910|17,850|
||2,071,094|1,912,972|
|**Analysis by fund**|||
|Unrestricted funds|1,995,443|1,843,534|
|Restricted funds|75,651|69,438|
||2,071,094|1,912,972|



- 25 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

|**9**<br>**Support costs**<br>Premises and office costs<br>Marketing<br>Accountancy, finance and advisory<br>Depreciation of heritage assets<br>Depreciation of fixed assets<br>Legal and professional<br>Other<br>Audit fees<br>Analysed between<br>Fundraising<br>Charitable activities|**2025**<br>**2025**<br>2024<br>2024<br>**Support**<br>**costs**<br>**Governance**<br>**costs**<br>Support costs<br>Governance<br>costs<br>**£**<br>**£**<br>£<br>£<br>194,847<br>-<br>219,337<br>-<br>20,541<br>-<br>20,759<br>-<br>45,594<br>-<br>41,872<br>-<br>69,438<br>-<br>69,438<br>-<br>32,029<br>-<br>24,975<br>-<br>650<br>-<br>-<br>-<br>1,505<br>1,193<br>(150)<br>-<br>18,910<br>-<br>18,000<br>364,604<br>18,910<br>377,574<br>17,850<br>20,541<br>-<br>20,759<br>-<br>344,063<br>18,910<br>356,815<br>17,850<br>364,604<br>18,910<br>377,574<br>17,850|
|---|---|



Support costs are those that assist the work of the charity but do not directly represent charitable activities. Support costs are apportioned based on direct costs incurred. 

Governance costs includes payments to the auditors of £18,720 (2024: £18,000). 

## **10 Trustees** 

None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year, (2024: £0). 

- 26 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **11 Employees** 

The charity trustees were not paid any remuneration, nor were they reimbursed expenses during the year (2024: Nil). 

The Charity considers key management personnel to be the Trustees, the Executive Director, Head of Commercial Services and Operations, General Manager and the Head of Technical and Facilities. Key management personnel in the period also included Director of Estates, Facilities and Technical, however, following a restructuring in December 2024, this role ended and was not replaced. 

The key management personnel of the Group comprise those of the Charity and the key management personnel of the wholly owned subsidiary company, Mahogany Bar @ Wilton’s Ltd. The key management personnel of the subsidiary comprises the Head of Commercial Services and Operations. 

The Group’s total remuneration of key management personnel, including pension contributions, for the year was £214,281 (2024: £203,727). 

The average monthly number of employees during the year was: 

|**Employment costs**<br>Wages and salaries<br>Social security costs<br>Other pension costs|**2025**<br>**Number**<br>53<br>**2025**<br>**£**<br>583,656<br>39,503<br>18,614<br>641,773|**2024**<br>**Number**<br>47|
|---|---|---|
|||**2024**<br>**£**<br>549,313<br>37,532<br>18,732|
|||605,577|



The number of employees whose annual remuneration was more than £60,000 is as follows: 

|||**2025**|**2024**|
|---|---|---|---|
|||**Number**|**Number**|
|£60,000|to £70,000|1|1|



## **12 Taxation** 

The charity is considered to pass the tests set out in Paragraph 1, Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3, Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes. 

- 27 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

|**13**<br>**Tangible fixed assets**<br>**Musical**<br>**instruments**<br>**Fixtures and**<br>**fittings**<br>**£**<br>**£**<br>**Cost**<br>At 1 October 2024<br>17,210<br>299,397<br>Additions<br>-<br>93,200<br>Disposals<br>-<br>(41,244)<br>At 30 September 2025<br>17,210<br>351,353<br>**Depreciation**<br>At 1 October 2024<br>17,210<br>130,436<br>Depreciation charged in the year<br>-<br>32,029<br>Eliminated in respect of disposals<br>-<br>(41,244)<br>At 30 September 2025<br>17,210<br>121,221<br>**Carrying amount**<br>At 30 September 2025<br>-<br>230,132<br>At 30 September 2024<br>-<br>168,961<br>**14**<br>**Heritage assets**<br>At 1 October 2024<br>Depreciation charge for the year<br>**At 30 September 2025**|**Computers**<br>**£**<br>9,821<br>-<br>-<br>9,821<br>9,821<br>-<br>-<br>9,821<br>-<br>-|**Total**<br>**£**<br>326,428<br>93,200<br>(41,244)|
|---|---|---|
|||378,384|
|||157,467<br>32,029<br>(41,244)|
|||148,252|
|||230,132|
|||168,961|
|||**£**<br>3,190,225<br>(69,438)|
|||3,120,787|



|**15**|**Stocks**|||||||
|---|---|---|---|---|---|---|---|
||||**Charity**|||**Group**||
|||**2025**||**2024**|**2025**||**2024**|
|||**£**||**£**|**£**||**£**|
||Raw materials and consumables|**-**||**-**|11,140||7,084|



- 28 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **16 Debtors** 

|**16**<br>**Debtors**|||||
|---|---|---|---|---|
|**Amounts falling due within one year:**<br>Trade debtors<br>Amounts owed by fellow group undertakings<br>Other debtors<br>Prepayments and accrued income<br>**17**<br>**Creditors: amounts falling due within one year**<br>Other taxation and social security<br>Deferred income<br>Trade creditors<br>Other creditors<br>Accruals and deferred income|**Charity**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>1,977<br>2,505<br>643,195<br>407,703<br>13,108<br>39,999<br>22,725<br>48,963<br>681,005<br>499,170<br>**Charity**<br>**2025**<br>**2024**<br>**£**<br>**£**<br>34,662<br>34,840<br>360,273<br>370,327<br>9,418<br>26,198<br>9,836<br>7,008<br>90,137<br>65,967<br>504,326<br>504,340|**Group**<br>**2025**<br>**£**<br>107,599<br>-<br>14,247<br>32,854<br>154,700<br>**Group**<br>**2025**<br>**£**<br>28,429<br>534,456<br>11,507<br>40,535<br>111,664<br>726,591|**Group**|**2024**<br>**£**<br>120,159<br>-<br>42,747<br>48,963|
|||||211,869|
|||||**2024**<br>**£**<br>32,681<br>551,200<br>38,652<br>42,926<br>75,939|
|||||741,398|



## **18 Deferred income** 

Deferred income is included in the financial statements as follows: 

||**Charity**|**Charity**|**Group**|**Group**|
|---|---|---|---|---|
||**2025**|**2024**|**2025**|**2024**|
||**£**|**£**|**£**|**£**|
|Deferred income is included within:|||||
|Current liabilities|360,273|370,327|534,456|551,200|
||360,273|370,327|534,456|551,200|
|Deferred income at start of period|370,327|223,998|551,200|326,755|
|Released from previous periods:|||||
|Trading activities|-|-|(180,873)|(102,757)|
|Charitable activities|(370,327)|(223,998)|(370,327)|(223,998)|
|Resources deferred in the year:|||||
|Trading activities|-|-|174,183|180,873|
|Charitable activities|360,273|370,327|360,273|370,327|
|Deferred income at end of period|360,273|370,327|534,456|551,200|



- 29 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **18 Deferred income** 

**(Continued)** 

Deferred income from charitable activities comprises advance ticket sales and is recognised as income in the period the performance to which they relate takes place. Deferred income from trading activities comprises wedding deposits and is recognised as income in the period in which the wedding ceremony takes place. 

|**19**|**Retirement benefit schemes**|||
|---|---|---|---|
|||**2025**|**2024**|
||**Defined contribution schemes**|**£**|**£**|
||Charge to profit or loss in respect of defined contribution schemes|18,614|18,732|



The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. 

## **20 Restricted funds** 

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The movements in these restricted funds are outlined below: 

|**Balance at**<br>**1 October 2023**<br>**£**<br>Music Hall Heritage<br>Property<br>3,129,826<br>LED Rig<br>-<br>(3,129,826)|**Resources**<br>**expended**<br>**Balance at**<br>**1 October 2024**<br>**£**<br>**£**<br>(69,438)<br>3,060,388<br>-<br>-<br>(69,438)<br>3,060,388|**Incoming**<br>**resources**<br>**£**<br>-<br>93,200<br>93,200|**Resources**<br>**expended**<br>**Balance at**<br>**30 September 2025**<br>**£**<br>**£**<br>(69,438)<br>2,990,950<br>(6,214)<br>86,986<br>(75,652)<br>(3,077,936)|
|---|---|---|---|



- 30 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **21 Unrestricted funds** 

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include the designated funds below which have been set aside out of unrestricted funds by the trustees for specific purposes: 

Building fund – The purpose of this fund was to support the upkeep and maintenance of the building following the substantial capital investment the building received. The majority of this fund was spent in the year to 30 September 2024. 

Future fund – The purpose of this fund is to help sustain the East End building with a programme of extraordinary theatre and music, for everyone with a curious imagination. A proportion of this fund was spent in the year to 30 September 2025. It was decided that a proportion of this year's surplus would be allocated to top-up the Future Fund to £200,000. 

|**At**<br>Building Fund<br>Future Fund<br>General funds<br>**Previous year:**<br>**At**<br>Building Fund<br>Future Fund<br>General funds|**1 October**<br>**2024**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**£**<br>**£**<br>**£**<br>82<br>-<br>-<br>172,709<br>-<br>(51,529)<br>1,064,073<br>2,364,758<br>(2,209,882)<br>1,236,864<br>2,364,758<br>(2,261,411)<br>**1 October**<br>**2023**<br>**Incoming**<br>**resources**<br>**Resources**<br>**expended**<br>**£**<br>**£**<br>**£**<br>10,613<br>-<br>(10,531)<br>200,000<br>-<br>(27,291)<br>1,007,007<br>2,138,178<br>(2,081,112)<br>1,217,620<br>2,138,178<br>(2,118,934)|**Transfers**<br>**At 30**<br>**September**<br>**2025**<br>**£**<br>**£**<br>-<br>82<br>78,820<br>200,000<br>(78,820)<br>1,140,129<br>-<br>1,340,211<br>**Transfers**<br>**At 30**<br>**September**<br>**2024**<br>**£**<br>**£**<br>-<br>82<br>-<br>172,709<br>-<br>1,064,073<br>-<br>1,236,864|
|---|---|---|



- 31 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

## **22 Analysis of net assets between funds** 

|**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2025**<br>**2025**<br>**£**<br>**£**<br>**Fund balances at 30 September 2025 are represented by:**<br>Tangible assets<br>-<br>230,132<br>Heritage assets<br>-<br>3,120,787<br>Current assets/(liabilities)<br>1,340,211<br>(272,982)<br>1,340,211<br>3,077,937<br>**Unrestricted**<br>**Restricted**<br>**funds**<br>**funds**<br>**2024**<br>**2024**<br>**£**<br>**£**<br>**Fund balances at 30 September 2024 are represented by:**<br>Tangible assets<br>-<br>168,961<br>Heritage assets<br>-<br>3,190,225<br>Current assets/(liabilities)<br>1,236,864<br>(298,798)<br>1,236,864<br>3,060,388|**Total**<br>**2025**<br>**£**<br>230,132<br>3,120,787<br>1,067,229|
|---|---|
||4,418,148|
||**Total**<br>**2024**<br>**£**<br>168,961<br>3,190,225<br>938,066|
||4,297,252|



## **23 Related party transactions** 

There were no disclosable related party transactions during the year (2024 - none). 

## **24 Controlling party** 

Wilton’s Music Hall is the parent company in the Group but there is no ultimate controlling party. 

## **25 Fixed asset investment** 

Charity shares in group undertakings: Mahogany Bar @ Wilton’s Ltd, Wilton's Music Hall, Graces Alley, London, E1 8JB. Company number 08284349 

As at 1 October 2024 and 30 September 2025 

£100 

Mahogany Bar @ Wilton’s Ltd undertakes ancillary and other trading activities for the Group. The parent charity owns 100% of the ordinary share capital of this subsidiary. Its principal purpose is to provide activities and support for Wilton’s Music Hall’s charitable activities, through the operation of a bar and provision of theatre and room hire. In addition, the Directors agreed to provide production services for commercial supply of these trades to Wilton’s Music Hall. 

The turnover of the company for the year to 30 September 2025 was £808,615 (2024: £768,788). Cost of sales for the year amounted to £407,292 (2024: £367,313). Administrative expenses for the year amounted to £116,063 (2024: £128,983). The operating profit for the year was £285,260 (2024: £272,492). The company donates all its profits to its parent charity. 

The company's net assets as at 30 September 2025 were £431,542 (2024: £431,542). 

- 32 - 



## **WILTON'S MUSIC HALL** 

## **NOTES TO THE  FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 30 SEPTEMBER 2025**_ 

|**26**<br>**Cash generated from operations**<br>Surplus/(deficit) for the year<br>Adjustments for:<br>Depreciation and impairment of tangible fixed assets<br>Movements in working capital:<br>(Increase) in stocks<br>Decrease in debtors<br>Increase/(decrease) in creditors<br>(Decrease)/increase in deferred income<br>**Cash generated from operations**|**2025**<br>**£**<br>120,896<br>101,467<br>(4,056)<br>57,169<br>1,937<br>(16,744)<br>260,669|**2024**<br>**£**<br>(50,194)<br>94,413<br>(1,001)<br>11,373<br>(9,812)<br>224,445<br>269,224|
|---|---|---|



- 33 -