CHICKENSHED
THEATRE CHANGING LIVES
Years of
Chickenshed
ryl
YS.l
THE CHICKEN SHED THEATRE TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
For the year ended 31 st March 2024
Company Registration Number: 02705172
Charity Number: 1012369

The Chicken Shed Theatre Trust
Contents
Page
Reference and Administrative Details
The Chaiman's Summary
The Organisation
Legal Structure & Objects
Govemance
Management
Risk Assessment
Reserves Policy
Statement of Public Benefit
Fonnat of Accounts
Annual Report of th8 Directorsl Achievements and Performance
Overview
strategies Employed to Achieve Charity's Aims & Objectives
Performance
Young Company
Education
Community & Outreach
Training & Partnerships
Volunteers
Financial Results & Commentary
Directors
Auditors
Disclosure of the Infomation to Auditors
10
10
10
statement of Direclors, Responsibilities
Independent Auditorfs Report
12
Financial Statemenls
16
Notes to the Financial Statements
19

The Chicken sh￿ Theatre Trust
Reference and Administrative Details
Directors:
Simon Allford
Pete Constanti
Richard Croft
Chris De Pury
Martin Gafsen
Anthony Gibbon (Chaimian)
Kathleen Hall
Brendan Kerr
The Hon. Natasha Rayne
Lady Rayne Lacey
Aref Lahharn
James Lock
Nick Millican
Ashley Muldoon
Matthew Rose (Treasurer)
Theodor Sergiou
Prof. Jonathan Shalit OBE
Phoebe Vela-Hilchcox
Non-Execulive Directors:
Dame Judi Dench CH DBE
Executive Officers:
Louise Perry (Managing Director)
Paul Morrall (Director of Education &Training)
Honorary Presldents:
The Hon. Natssha Rayne (President)
The Lady Rayne Lacey (President Emeritus)
Ambassadors & Guardlans: Jo Collins MBE (Founder)
Mary Ward MBE (Founder)
Company Secretary:
Daniel Beacock
Reglstered Office:
Chicken Shed Theatre
290 Chase Side. Southgate, London, N14 4PE
Company Registration:
Number 02705172 (England and Wales)
Reglstered Charity:
Number 1012369
Bankers:
Barclays Bank plc
Media Bank Centre
1st Fli)or. Soho Square
London W1 D 3QR
Auditors:
Alliotts LLP
Manfield House
1 Southampton St￿et. London
WC2R OLR

The Chicken Shed Theatre Trust
The Chalmian's Summary
For the year ended 31 March 2024
This year we celebrate Chickenshed's 50° Anniversary! A remarkable achievement and
one about which we are profoundly proud. We intend to celebrate in a number of ways.
most notsbly a gala at the Royal Institute of British Architects (RIBA) in November of this
year.
I mentioned last year that we were to be supported by the National Lottery Heritage Fund
during our 'Golden' year. This has enabled us lo engage with over 6,000 people in
heritage and oral history activities and we have commissioned a documentary to
highlight the significant milestones during the period and our vision for the next half
century. Naturally our intention is to deepen and increase our Partnerships across a
wide range of sector5.
From a financial perspective, we maintained a healthy financial position and have
strengthened our reseNes, a formidable achievement in the light of the many challenges
that everybody has faced. A pragmatic yet sensible stance has been adopted and we
have been fortunate that our fundraising activities have remained robust.
A new Partnership with Inflexion. who have agreed to provide three years of funding to
support access and participation for the community, is welcomed and greatly
appreciated. The Group's incredible generosity is a testament to Chickenshed's appeal.
As ever I must express my thanks to Louise Perry and the Executive Team and to the
Trustee Board for their unwavering commitment.
Tony Gibbon
Chairman, The Chicken Shed Theatre Trust

The Chicken Shed Theatre Trust
The Organisation
Chickenshed is an inclusive theatre company whose vision is the creation of a society which
enables everyone (regardless of background, ability or affluence) to flourish - with the contributions
to their communities actively welcomed. Our part in realising that vision. our mission, is to create
entertaining and outstanding theatre. which celebrates diversity and inspires p051tive change.
Structure, Governance & Management
Legal Structure & Objects
The Chicken Shed Theatre Trust is a registered charity and a company incorporated by guarantee
with no share capital, exempted under Section 5 of the Companies Act 2006 from the requirement
to use "Limited" as part of its name. Members of the Board act as Trustees and Directors of the
charity and company respectively. The overall objects and powers of the Trust are set out in the
Memorandum and Articles of Association. The object for which the company is established is the
advan￿rnent of education in the fields of the arts. principally for the benefit of young people
including those who may require help with mobility, communication. behaviour or self-help skills and
social development with a view to educating them in these areas and integrating them into the
community by assisting them in their development as members of society.
Govemance
The Board of Directors has full legal responsibility for the corporate governance of the Chicken
Shed Theatre Trust. Directorsrrrustees are required to act in accordance with the company's
Memorandum and Articles of Association and as required by Statute.
Directors 8re appointed on the basis of specific skills and knowledge to enable them to make a
contribution to the management of the company. In order to understand their role and current
issues facing the organisalion, each new Direclor is provided with specific tailored information,
including; copies of Governing Documents, Board Minutes. Annual Accounts and the Charity
Commission's booklet "The Essential Twstee.. Whal you need to know". Opportunities are
provided for new Directors to engage with the Chairman and Managing Director, as well as
meeting with staff working within their own area of specialism.
In accordance with the Articles of Association the following Directors retired by rotation at the
Annual General Meeting (21 sl June 2023) and. being eligible, sought re-appointrnent- Simon Allford,
Matthew Rose. Aref Lahham, James Lock and Nicholas Millican were re-appointed.
The Board meet quarterly arid review cross-organisation perfomiance and development. Finance
is ihe responsibility of the Finan￿ Committee, which in the year to 31 March 2024. consisted of
the TreaSu￿r of the Trust, Head of Finance (who is the Company Secretary) the Managing
Director and Board trustees. This Commitlee convenes every two months. It oversees the
development of business plans and recommends the Annual Budget to the Board. It reviews
progress through the management account and re-forecasting process, tighlly monitors
overheads and exerts rigorous control over all outlays. Being responsible for monitoring income
delivery is an essential part of the monthly discussions of the Finance Committee.
Management
The operational running of the theat￿ company is delegated to the Managing Director. supported
by the Executive Team and Management Board. All groups meet regularly to discus5 the
operations of the company, assessing progress against artistic. education and business plans.
Communication within the company, and to the wider Chickenshed community. is facilitated
through face-to-face briefings (including departmental, staff and volunteer meetings),
complemented by communications via the Sharepoint intranet and bespoke bullelins.
Key areas discussed by the Management Board include Health and Safety and Human

Th• Chicken Shed Theatre Trust
The Oryanlsatlon (continued)
Resourtss. It is important to note that alongside paid staff, Chickenshed welcomes the
contribution of over 300 volunteers, who continue to play a vital role in supporting our WOTk.
Risk Assessment
Systems of internal control within the Trust are designed to provide reasonable reassurance
against material mis-statement or loss. These include:
Strategic and operational plans and an annual budget
Consideration of financial and non-financial results on a re9ular basls
Identification and management of risks
The Board has overall responsibility for ensuring that risk is managed in a constructive and
considered manner and judge that the systems currentty established mitigate the major risks
identified and are appropriate for the present size of the charity.
The most signrficant risks affecting the Charity are liquidity and cash flow risk. The Finance
Committee continues to monitor this aspect of the company's operations on behalf of the Directors,
through review of management accounts 8fKI re-forecasting. particularly in relation to income.
Reserves Policy
The Charity continues its commitment to build meaningful reserves, and this year marked further
progress in our steps to achieving this. At the year end the charity had free reserves of
£1,629.143 (2023.. £1,551,703). The Board of Truslees have examined the charity's requirements
for reserves in light of the main risks to the organisation. It has established a policy whereby the
unrestricted funds not committed or invested in tangible fixed assets held by the Charity should be
between 3 and 6 months of operational expenditure. At 31 March 2024 the Charity's reserves are
within this range. The Trustees review the level of Reserves regularly and the Reserves Policy
annually to tske 8ccount of changing circumstances.
Statemenl of Public Benefit
The Directors confirm that they have complied with the duty in section 4 of the Charities Act 2006 to
have due regard to public benefit guidance published by the Commission in detemiining the
activities undertaken by the charity.
Forniat of Accounts
The accounts attached on pages 16 to 34 have been drawn up in compliance with Accounting and
Reporting by Charities.. Statement of Recommended Practs'ce applicable to charities preparing their
accounts in accordan￿ wsth the Financial Reporting Standard applicable in the UK and Republic of
Ireland (FRS 102) (effective 1 $1 January 2015), {Ch8rities SORP FRS 102) and. the Companies Act
2006.

The Chicken Shed Thealrg Trust
Report of the Directors- Year ended 3181 March 2024
Overvièw
Chickenshed is an inclusive theatre and education provider with a vision to support a society that
enables everyone (regardless of background. ability or affluence) lo flourish. Our mission is to
develop a unique environment that empowers children, young people and adults to define and
seek solutions to their individual, community and social challenges. Through programmes and
activities facilitating education. theatre. participation, and professional training. Chickenshed
breaks down barriers to inclusion and transforms wellbeing.
Chickenshed works with children and young people aged 0 21+ and adults of all ages. Our
inclusive ethos means we welcome people from divetse backgrounds, and our community is
made up of people from across all of society, including those experiencing social exclusion in
mainstream environments for whom we provide additional support, to dismantle the barriers to
their inclusion.
We empower individuals, bulldlng transferable skills and providing platfomis to reflect
Ihese back to their communities:
We support the presence, p8rticipation and achievement of all citizens.
We provide access to adaptable creative environments. which are defined by the positive
contribution of every participant.
We support individuals to recognise their existing skills, build new capacities and
understand the relevance and transferability of these to other environments.
We change hearts and mlnds-introducing new audiences to the positive Impact of
Inclusion:
We provide effective platfom)s for the lived experience to become a tool for social
Change.
We challenge reductionism and silo thinking when designing interventions and
programmes.
Through relocation of resources and leadership responsibility, we reposition power for
change back within the community.
We transform instltutlons4Jenerating evidenco-based approaches that can lead to societal
change:
Through our projects and programmes, we estsblish an approach to inclusive practice
and policy which can be relevant to other a￿8$ of arts and education sectors.
We seek active partnerships with organisations that challenge the limilations of existing
inclusion practice and policy, in or(ler to establish the foundation that sustainable diversity
quires.
We recognise that a strategy for inclusion should consider the Ihree indicators" access.
participation and achievèment. Our Theatre, Education and Participation programme is designed
to provide regular, meaningful and high-quality acces5 to inclusive performing arts participation
and education for a wide range of ages and backgrounds.
On a weekly basis. Chickenshed is home to 700 members of the Children's and Youth Theatre.
170 Further and Higher Education students. 150 adult participants, and 300+ volunteers from the
wider community who play an active role in supporting the development of chilrjren, young people
and the arts. Our Early Years programme prompts early engagement with 150+ performances per
year at our own theatre venue, as well as tours to other Iheatres, nurseries and school5.
All of this adds up to provide a continuum of engagement for over 1,000 individuals and their
families each week. Across these groups approximately 600/ts would identify as having an
additional requirement for support, which creates challenges for them when accessing other
community activities. All of these individuals are given regu18r access to high-quality creative arts
participation, teaching and production resOU￿e$.

The Chicken Shed Thealre Trust
Report of tha Directors - Year ended 31st March 2024 (Continued)
The demand for these activities is evidenced through the retention and continualion rates of our
projects, audience numbers and waiting lists for our programme5.
Strategies employed to achieve tho Charlty's Alms and Oblectlves
In pursuit of our charitsble aim of the advancement of education in the fields of the arts, principally
for the benefit of young people, we have continued to reach our beneficiaries through focusing our
work in the key strategic areas of Performance, Education & Outreach and Participation. Key
activities 8nd achievements are detsiled below.
th
Chickenshed's 50 Anniversary
2024 marks the 50th year since Chickenshed's Founders, Mary Ward and Jo Collins. met and
sha￿d their vision of a theatre space where everyone was welcome.
Our half<entury milestone was mark8d in January then we were invited to receive an av￿rd
from The Stage. The Judges, Award, reserved for theatres that have achieved signfficant
milestones or made exceptional contributions to the arts and theatre. was presented to
Chickenshed by The Stage's Associate Edrtor, Lyn Gardner..
"Chickenshed has, over half a centuryp grown into one of UK theatre's most importont arts
organisations while never 105ing it5 core commitment to diverslty ond inclusivity. It 15 an
extraordinary and inspiring theatre company and a model of how theatre can work both with
andfor its community.
Performance
Chickenshed offers, through its professional performan￿ programme. opportunities for students
and Young Company members to be mentored alongside our professional artistic stsff. thus
developing essential transferable skills for the fvture. The creative process includes systematic
mixed stakeholder feedback sessions, youth-guided devising workshops and young creator roles
embedded within all creative teams of public performances.
Our main house theatre space, The Rayne Theatre, has hosted 320 performances across 30
different produclions over the past 12 months. Our artistic strategy and programming are shaped
by a team of creative leaders who have emerged from our educalion and participation
programmes, supported by Chickenshed's Senior Creative Producers. This approach is highly
appreciated and celebrated by both programme participants and extemal reviewers.
This yearfs annual Winter production. 'The Toymakers. Child,. received the award for Best
Production at the Off West End Awards and also nominated for Best Design for Theatre for
Young Audiences. Additionally, our spring production, 'Love From C8men,' has been nominated
for Best Performance Ensemble al this year's awards.
"The ultimate vindication of The Toymaker's Child is that it's an ode to human Creativity in
all its messy, imperfect greatness." Neil Fisher, The Times
Young Company - Children's and Youth Theatre
Chickenshed's Young Company is built upon participatory. inclusive theatre techniques with
youth-guided and youth-led best practice infomiing all strategic planning and activity. The Young
Company has a commitment to empower young people to lead exploration of collective peer
perspectives on social challenges and particularly issues relevant to inclusion. In devising theatre
that reflects this focus- they share this exploration in a way that can effect change within the
communities they define as relevant to their access and achievement.

The Chicken Shed Theatre Trust
Report of the Directors - Yaar ended 31st March 2024 (Continued)
Among the notable activities this ye8r was a co-production with SPID Theatre titled 'Smile.'
Written by SPID'S Artistic Director and directed by Chickenshed's Young Company Associate,
May8 Nielson, the production was perfomed at both Chickenshed and the Natural History
Museum.
Education
Chickenshed delivers a BTEC Level 3 Natlonal Extended Diploma in Performlng Arts,
alongslde a Foundation Degree in Inclusive Performance with the opportunity of a BA {Honsl top-
up. Across the 3 education programmes, 170 students attend per year. Chickenshed's recruitment
process. involves extensive community Outreach work in secondary schools. This approach
ensures access to furth8r, and subsequently higher education is open to individuals previously
excluded from full education participation.
Chickenshed's inclusive model for education continuously seeks out new ways to support
individuals in closing the achievement g8PS that occur between different equality groups. The
mentor and peer support model provides an additional resource for every student. A significant
proportion of these mentors have been through the FE & HE courses and have lived-experience
of the challenges many students face. This wrap-around care complements the teaching team
and ensures, no matter how severe or complex, the additional need of each individual can be met.
ensuring they succeed in their education joumey.
Students steer the development of modules in outreach and professional employability &
placement empowering the students to address their communities, challenges. The Inclusive
Professional Partnership Ne￿Ork (IPPN) established in 2021, incorporating education, Community
and social inclusion organisations, is thriving. achieving more work placements for students and
training delivered by Chickenshed's lived experience experts. Members of this IPPN recognise
Chickenshed's students. ability to work with them lo improve the lives of the groups they support.
Chickenshed's access targets are routinely set between 20% and 45% higher than national
averages for higher education organisations, and so are deliberately challenging. These tsrgets
included aims for black and global majorily, extemally identified and self-ldentified disabilities.
areas identified by Index of Multiple Deprivation (IMD) and students with multiple areas of
underrepresentationj interseclions of disadvantage. Chickenshed exceeded underrepresentation
access targets for the higher education course, and level with or above these targets for further
education intake. The black and global majority figure for the further education intake, ex￿eded
national targets by 200/D.
Regarding SuccesslAchievement Outcomes for the academic year, our higher education courses
pass rates were well above national averages, ranging from 860/0 to 960/0. For High Grades (First
or 2.1 Upper Second for Higher Education), Foundation Degree students met national averages
for all underrepresented groups except students with disabilities, where outcomes were 3Q/o lower
than national benchmarks for 811 students. However, these outcomes were significantly above
national benchmarks for students with the disability profiles and multiple underrepresentstions
that Chickenshed supports.
Foundation Degree students with multiple areas of need and those from Index of Multiple
Deprivation backgrounds conlinued to achieve well above or above av8rage levels. BA students
performed al national average levels overall, with students with disabilities slightly lower by 30/0
compared to all students. However, for students with multiple areas of need and the specific
disability profiles Chickenshec5 setves. achievement outcomes were well above national
benchmarks for this target group.
"If I didn't come here, I wouldn't have become the person l am today. Chi¢kenshed has
made me feel like I have no limits." BA Degree Graduate, 2024.

The Chicken Shed Theatre Trust
Report of the Dlreclors - Year ended 31st March 2024 (Continued)
For further education students, performing arts grades are above national averages for all areas
of underrepresentation and above national averages for High Grade Outcomes. Figures for
progression Gontinue to be well above national averages.
An important statistic is the 'distan¢e Iravelled, story. 97 % of students who did not have the GCSE
level of grading to enter a BTEC Level 3 course, achieved a 'pass', with 63Q/o of those indivKluals
achieving high grade achievement (merit or distinction) in their final grade. In terms of
progression, 90-93 /0 progressed to higher education. which is well above Ihe national averages
for furlher education colleges and well above national averages for 6th Form Colleges exceeding
national averages by be￿een 20 % and 25 % in ternis of entry to higher education. and 35°/0
40 /0 for students with similar profiles of need. disability and disadvantage.
Regarding Covid-19. the current feeling among the student group reflects that of the wider society
in that the cost of Irving crisis and 'Covid Scarring, (long term pandemic impact) are most affecting
progress and aspiration. Part of Chickenshed's response to this has been to maintain the
counselling and peer mentoring and hardship fund provision. We consider this to be an important
intervention that we need to prioritise. together with other aspects of increased support for day to
day living expenses {food and travel). enabling young people who have been particularly affected
to remain present, active and purp05eful during this time.
In the first and second year, Chickenshed is using this fvnding to provide professional production
resources for education projects, increased performance specialism resources and training. wider
experiences linked to performance for all students, and a wide range of support interventions and
extra enhancement programmes. The combination of initiatives will be tsrgeted at reducing and
removing barriers to leaming and development in the areas of access. participation and
progression. As an example, Chickenshed has launched the 'Bridge Programme. in response to
'Covid Scarring, and the increased barriers to employment faced by newly graduated stud8nts.
This programme guarantees gradu8ting students £500 of paid contracted employment, either
external or intemal, to boost graduates with their first paid occupation in employment related to
their degree in inclusive performance.
Within the successful six-year revalidation cycle by Middlesex University for our Higher Education
Degree. assessors acknowledged the program's development. various accreditations, and the
positive partnership activities with the universty.
The Teaching Ex¢ellonce Framework (TEF) is a national initiative managed by the Office for
Students (Ofs), aimed at encouraging higher education providers to enhance and excel in the
areas that matter most to students.. teaching. leaming, and achieving positive outcomes from their
studies. TEF achieves this by evaluating and rating universities and colleges for excellenGe above
a set of minimum quality and standard requirements. Chickenshed has been awarded a Gold
Standard ('Outstanding") for Student Outcomes and a Silver Standard ("Very High Qualty.) for
the Student Experience. Based on these evaluations. the TEFIOfS Panel has granted
Chickenshed an overall Gold TEF Award. This award reflecls a thorough investigation and
assessment of Chickenshed's higher education stsndards over the past four years by a TEFIOfS
Panel. The key factors identified for Chickenshed achieving the Gold Award were,.
Outstanding Student Outcomes and Experience: Targeted efforts to benefit all students in
these areas.
Support for Underrepresented Students: Consistently providing high-quality knefits to
target group of students. many of whom come from underrepresented and disadvantaged
backgrounds.
Addressing External Barriers: Over the past four years, the signif5canl efforts to mitigate
extemal barriers 8ffecling student progress were acknowledged by the panel.

The Chl¢ken Shad Theatre Trust
Report of the Directors - Year ended 31st March 2024 (Continued)
The Chickenshed community takes great pride in having its approach to higher education
recognised in this way.
Chickenshed has been awarded Centre of Excellence in Inclusive Education status from the
National Incluslon Quality Mark (IQM) organisation. Students were involved at every aspect of
this process. Chick8nshed looks forward to sharing best practice with other education
professionals seeking to embed inclusion within the education system.
COMMUNITY PARTNERSHIPS AND OUTREACH WORKSHOPS
Although Chickenshed's participants and audiences travel from across North London and beyond
(e.g. Haringey and Waltham Foresl). geographically we straddle Mo large London boroughs:
Enfield and Barnet. Both boroughs have areas of very high deprivation, with Enfield assessed as
the 4181 most deprived of the 326 local authority areas, and Bamel in the lowest 500/0. Outreach
projects in early years, primary and secondary settings have deliberately challenging targets set
to deliver 800/0+ of participant and audience work in areas of equality group underrepresentation
and multiple disadvantage. Focusing our outreach programme delivery in underserved areas such
as Lower Edmonton, Enfield Lock, Freezywater. Dollis Hill Estate, Graham Park and Colindale
has resulted in strong levels of involvement in our participatory and education programmes from
these areas. reinforced through t8rgeted recruitment. social support agency referrals and funded
subsidies.
We have a designated post responsible for making links with referral agencies within all our
neighbouring boroughs, and continue to focus fundraising efforts towards providing free access
and participation places for children, young people and families.
Supporting this work, private equty firm Inflexion have pledged lo donate £300,000 over three
years, with the first £100,000 instalment re￿iVed in February 2024. This income is supporting our
Access & Participation Fund, enabling greater access to programmes of work including Young
Company. Early Years and intergenerydlion projects.
TRAINING AND PARTNERSHIPS
Chickenshed has developed inclusive arts methodology and practice for the past 50 years. During
this time, we have supported the incepiion. development and growth of 16 national, and 4
intemational, inclusive arts organisations. We continue to offer to be a link between these 'Sheds',
forming a ne￿Ork of inclusive theatres.
Over the past three years we have worked with over 270 partners, spanning the arts, education,
youth participation, public service, charity and corporate sectors, These partnerships play a key
role in both increasing the impact of our activities and raising awareness of our model of good
practice for inclusion locally, nationally and internationally. This yea¢s partners included=
AGEUK
Barnet Carers
Central School of Speech and Drama
Child Brain Injury Trust
Enfield Carers Centre
The Natural History Museum
National Children's Bureau
Sense
1927
Barbican Centre
Bromley By Bow Centre
Cenlre for Research in Early Childhood
The Children's Society
Flourishing Lives
New Citizens Gateway
The Rudd Centre
SPID Theatre
We have secured a £50,000 donation from The Thompson Family Charitable Trust which will
support yearlong partnerships with 7 charity organisations.

The Chicken Shed Thaatro Trust
Report of the Directors - Year ended 31st March 2024 (Continued)
As a resutt of this, 500 children, young people and adults who a￿ experiencing social exclusion,
disadvantsge or hardship will be given access to positive inclusive community experienc8S.
Chickenshed's Diversity and Inclusion training, provided to education, arts and youth sector
Partners, has continued to grow a client-base across a variety of sectors. 'PerFORman¢e' is a
suite of training. exploring issues related to improving diversity and inclusion strategies. and
dismantling systems and practice which exclude individuals from community and social
development. Lived Experience Experts from the participant community are at the centre of the
training delivery.
"Our experience of working with young people who were part of the lived experlence
through Social action & systems change pmject, was honestly one of our highlights at the
Children's Society. These young people were so klnd, self-aware and COAnpassionate and
they understood systems change so welll What a pleasure to be amund such engaged
young people. We are so grateful for the continued partnership we have with Chickenshed
and all the inspiring young people we￿e met as a resultl"
50TH ANNIVERSARY HERITAGE PROJECT
Echoes,, Chickenshed's 50th-year heritage project fvnded by The National Lottery Herilage Fund.
was launched in November 2023. Steering groups, comprised of representatives from the
Chickenshed community and our project partners, developed ideas for five Decade Projects that
form the core of Echoes. Each project delves into the heritage of its respective era by capturing
oral histories, curating the company archive for a borough-wide exhibition, and developing events
aimed at re*ngaging former Chickenshed members with current projects and programs. The
heritsge of Chickenshed is also being documented through a film that will summarise the
significant relationships across the 50 years. the evolution of the inclusive practice and the legacy
of this for young people today.
Volunteers
Chickenshed's remarkable group of 300 volunteers, fulfilling over 45 essential roles across all
areas of the organisation. continues to enhance the positive experiences provided to all
participants.
The contribution of our Trustees & support of senior advisorslprofessionals, (who bring specialist
support). was a gift of over 13,000 hours to the organisation.
As ever, the contribution of our volunteers is immeasurable -beyond the hours they give. their
energy. enthusiasm, dedication and goodwill are vital to Chickenshed. Our volunteers are a
precious resource and enable us to deliver the programmes and activities for young people. We
are truly indebted to them,
Flnanclal Results and Commentary
In September 2019 the trust set up a new. wholly owned, trading subsidiary named Chickenshed
Trading Limited, as a result of which the financial statements now show the trust and the trading
subsidiary as a group. The intent is that all proffts from the trading subsidiary will be donated to the
trust through the Gift Aid scheme. The financial perfomiance of the trust alone can be found in Note
4 to the accounts: Financial Perfom)ance of the charlty on page 24 of the accounts. The financial
perfomian¢e of the trading subsidiary can be found in Note 6: Income oarned from other
activities on page 25 of the arxounts.

10
The Chicken Shed Theatre Trust
Report of the Dlrectors - Year ended 31st March 2024 {Continuedl
The surplus on unrestricted funds for the group for the year ended 31 st March 2024 amounted to
£77,440 (2023.. £441,077). Total income was 3.3% lower than the previous year at £3.81m, and
overall costs also increased by 5.9 % generating a net surplus (including depreciation) of £158,014
(2023.. £490.1941. Depreciation charged in the year through the restricted and unrestricted funds
amounted to £181,113 {2023.' £164,699).
Management continued with the underlying principles of the business plan, approved by the
Trustees. in growing income and tightly controlling costs.
Cost control remains the main objective ensuring that the Trust only delivers projects that are fully
funded so enabling the Trust to improve its reserves position and ensure sustainability going
forwards.
Staff numbers remained largely unchanged Compared to 2022-23.
Directors
The directors who held office during the period and up to the date of signature of the financial
statements were as follows..
Simon Allford
Pete Constanti
Richard Croft
Chris De Pury
Martin Gafsen
Anthony Gibbon
Kathleen Hall
Brendan Kerr
The Hon. Natasha Rayne
Lady Rayne Lacey
Aref Lahham
James Lock
Nick Millican
Ashley Muldoon
Matthew Rose
Theodor Sergiou
Prof. Jonathan Shalit OBE
Phoebe Vela-Hilchcox
Audltors
The auditors, Alliotts LLP, are willing to continue in offi￿. A resolution for their reappointment and
authorising the directors to fix their remuneration will be submitted to the Annual General Meeting.
Dlsclosure of information to audltors
Each of the persons who are directors at the time when this report is approved confirms that:
(a) so far as each director is aware, there is no relevant audit information of which the charitable
company's auditors are unaware,. and
(b) each director has taken all the steps that ought to have been taken as a director, including
making appropriate enquiries of fellow directors and of the company's auditors for that purpose, in
order to be aware of any infomiation needed by the Company's auditors in connection with
preparing their report and to establish that the company's auditors are aware of that infomiation.
2810812024
The Report of the Directors was approved and signed on behalf of the trustees on .
By Order of the Board
TONY GIBBON

11
The Chicken Shed Theatre Trust
Statement of Dlrectors, Responsibilities - Year ended 31st March 2024
The Directors of the Company are ￿spOnsible for Preparing the Directors. 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 directors to prepare financial ststements for each financial year which
give a true and fair view of the state of affairs of the charitable company and the group. Directors
must also be satisfied with the incoming resources and application of reSoU￿es, including the
income and expenditure, of the charitable group for that period.
In preparing these financial statement5. the directors are required to:
select suitable accounting policies and then apply them consistently.
observe the methods and principles in the Charities SORP (FRS 102).
make judgements and estimates that are reasonable and prudent,.
state whether applicable UK accounting standards have been followed. subject to any
differences disclosed and explained in the financial statements-
prepare the financial statements on the going concem basis unless it is inappropriate to
presume that the group will continue in business.
The directors are responsible for keeping proper and adequate accounting records that disclos8
with reasonable accuracy at any time the financial position of the charitable company and the
group. The financial statements Should comply with the Companies Act 2006. They are also
responsible for safeguarding the assets of the charitable company and the group, and henc8 for
taking reasonable steps for the prevention and detection of fraud and other irregularities.

12
The Chicken Shed Theatre Trust
Independent Auditor's Report to th• Members of The Chicken Shod Theatre Trust
Year ended 31st March 2024
Opinion
We have audited ttte financial 5t8tements of The Chicken Shed Theatre Trust {the 'parent charitable
company'} and its subsidiaries (the 'group'} for the year ended 31 March 2024, which comprise Ihe
Consolidated Statement of Financial Activities. Consolidated Balance Sheet, Consolidaled Cash Flow
Sialemenl and notes lo the financial statements, including a summary of significant accounting policies. The
financial reporting framework that has been applied in their preparation is applicable law and United
Kingdom Accounting Standards, including FRS 102 "The Financial Reporting Standard applicable in the UK
and Republic of Irelan¢J' (United Kingdom Generally Accepted Accounting PraGlice}.
In our opinion the financial slalements..
give a true and fair view of the state of the group's and parent Gharilable company's affairs as at 31
March 2024 and of group's and the parent charitable company's incoming resources and
application of resources, including ils income and expenditure, for the year then ended.
have been properly prepared in accordance wlth Unlted Kingdom Generally Accepled Accounting
Practice., and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We have been appointed as auditor under the Companies Act 2006 and report in accordance with
regulations made under that Act. We conducted our audlt In accordance with Inlemational Slandards on
Auditing {UK} {ISAs (UK)) and applicable law. Our responsibilities under those standards are further
described in the Auditor's responsibilities tor 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 stalements in the UK, including the FRC'S Ethical Standard, and
we have fulfilled our ethical responsibilities in accordance wlth these ￿quIrernents. Wè believe Ihal the audil
evidence we have obtained is sufficient and appropriale to provide a basis for our audit opinion.
Concluslons relatlng to golng concern
In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of
acwunting in the preparation of the financial statements is appropriate.
Based on the work we have performed. we have not identif￿1 any material uncertainties relating to events or
conditions that, individually or collectively, may cast significant doubt on the Group's and of the Company's
ability to continue as a going concern for a period of at least ￿e1ve months from when the financial
statements 8re authorised for issue.
Our responsibilities and the responsibilities of the tru5tees' wilh respect to going concem are described in the
relevant sections of this report.
Other Informallon
The trustees are responsible for the other Infomiation. The other infomiation comprises the infomation
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 olhemise
explicitly staled in our report, we do not express any form of assurance or (y)nclusion thereon.
In connection with our audit of the financial slatements. our responsibility is to read the other infomation
and, In doing so, consider whether Ihe olher information is materially inconsislenl with the financial
stalemenls or our knowledge obtained in the audit or othemise appears lo be materially misslaled. If we
identify such material inconsistencies or apparent material mlsstatemenls, we are required to delermine
whether there is a material misstatement in the financial statements or a matarial

13
The Chicken Shed Theatre Trust
Independent Auditorfs Report to the Members of The Chicken Shed Thgatro Trust (Gontinued)
Year onded 3151 March 2024
misslatement of the other infomiation. If. based on the work we have performed, we ¢onclude that
there is a material misstatement of this other infomiation, we are reqUI￿d to report that fact.
We have nothing io report in this regard.
Opinlons on other matters prescribed by the Companies Act 2006
In our opinion. based on the work undertaken in the course ofthe audlt:
the information given in the DireGtors' Annual Report for the financial year for which the
financial statements are prepared is consistent with the financial statements., and
the Directors, Annual Report has been prepared in accordance with applicable legal
requirements.
Opinion on other matters prescribed by the Offlce for Students. Accounts Direction
In our opinion, in all material respects-
fvnds from whatever source administgred by the group and charitab18 company for speci
purposes have been property applied to those purposes and managed in accordance with
relevant legislation.,
fvnds provided by the Offic8 for Sbjdents, UK Research and Innovation (including Research
England), the Education and Skllls Fundlng Agency and Department for Education have been
applied in accordance wlth the relevant temis and conditii)ns: and
the requirements of the offi￿ for Students, accounts direction for the relevant yearfs financial
statements have been met.
Matters on which wo are roquired lo report by 8xcèpti<Jn
In the light of the knowledge and understsnding 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. Annual report.
We have nothing to report in respect of the following matters where the Companies Act 2006 requires
us to report to you if, in our opinion:
adequate accounting records have nol been kept by the parent charitable company, or retums
adequate for our audit have not been received from branches not visited by us-, or
the parent charitable company's financial statements are not in agreement with the accounting
records and retums: or
certain disdosures of trustees, remuneration specified by law are not made., or
we have not réceived all the Informatlon and explanations we require for our audit.
We have nothing to report in respect of the following matters where the OffiGe ftir Students, a¢￿￿nIS
direction requires us lo report to you if=
the group and parent charitable company's grant and fee incorne, as disclosed in the note to
the accounts, has been materially misstated.

14
The Chicken Shed Theatre Trust
Independent Audito￿8 Report to the Members of The Chicken Shed Theatre Trust l¢ontlnued>
Year ended 318t March 2024
Responsibilltles of trustees
As explained more fully in the trustees, responsibilities Statement set out on page 11, the trustees (who
are also Ihe directors of the charitable company for the purposes of company lawl ar8 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 ta enable the preparation of
financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the tnjstees are responsible for assessing the group and parent
charitable company's ability to continue as a going concem. disd05ing, as applicable, matters related
to going concern and using the going concern basis of accounting unless Ihe trustees either intend to
liquidate the charitable company or to cease operations, or have no realistic altemative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about wh8ther the financial ststements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditof s report that
Includes our opinion. Reasonable assuran￿ 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 misslatem8nt when it
exists. Misststements can arise from fraud or error and are considered material if, individually or in the
aggregate, they Could reasonably be expected to influ8nc8 the economic decisions of users tsken on
the basis of these financial ststementS.
Irregularities, including fraud, are instances of nonwcompliance with laws and regulations. We
design procedures in line with our responsibilities. outlined above, to detect malerial
misstatements in respect of irregularities. including fraud. The extent to which our procedure5 are
capable of detecting irregularities, including fraud, is delailed below.
Our approach to identifying and assessing the risks of mat8rial misstatement in respect of
irregularities, including fraud and non-compliance with laws and regulations, was as follows:
the engagement partner ensured that the engagement team collectively had the 8ppropriate
competence, capabilities and skills to identify or recognise non-compliance with applicable laws
and regulations.
we identrfied the laws and regulations applicable to the company through discussions with
directors and other management. and from our commercial knowledge and experience of the
charity sector ',
we focused on specific laws and regulations which we considered may have a direct material
effecl on the financial stalements or the operations of the company, including the safeguarding,
preventlprotect, Ofsted, health and safety legislation. taxation legislation, data protection, anti-
bribery, employment, environmental and charity and company legi51ation',
we assessed the extent of compliance with the law5 and regulations identified above through
making enquiries of management and inspecting legal and regulatory correspondence - and
identified laws and regulations were communicated within the audit team regularly and the team
remained alert to instances of non-Gompliance throughout the audit.
We assessed the susceptibilily of the company's financial statements to material misstatement.
including obtaining an understanding of how fraud might occur. by:
making enquiries of management as to where they considered there was susceptibility to fraud.
their knowledge of actual. suspected and alleged fraud.,
understanding the design of the company's remuneration policies.
To address the risk of fraud through management bias and override of controls, we:
perfomied analytical procedures to identify any unusual or unexpected relationships.

15
The Chicken Shed Theatre Trust
Independent Auditorfs Report to the Members of The Chith¢n Shad Theatre Trust {contlnued)
Year endod 316t March 2024
. tested joumal entries to idenlify unusual transactions.
investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-complian￿ with laws and regulations. we
designed procedures which included. but were not limited to:
agreeing financial statement disclosures to underlying supporting documentation. and
enquiring of management as to actual and potential litigation and claims.
There are inherent limitations in our audit procedures described above. The more removed that
laws and ￿gUlationS are from financial transactions, the less likely it 15 that we would become
aware of non-compliance. Auditing stsndards 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. rf any.
Material misstatements that arise due to fraud can be harder to detect than those that arise from
error as they may involve deliberate Goncealment or collusion.
A further description of our responsibilities for the audit of the financial statements is located on
the Financial Reporting Councils website at: wrnw.frc.org.uklauditorsresponsibilities. This
description forms part of our audrtorfs report.
Use of our 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 stste to them
in an auditors 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.
Christopher Mantel (senior statutory auditor)
For and on behalf of Alliotts LLP, Statutory Auditor
Alliotts LLP
Manfield House
1 Southampton Street
London
WC2R OLR
Date". 2810812024
Alliotts LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

16
The Chicken Sh•d Theatre Trust
Consolldated Statement of Financial Activities
expenditure account)
(Incorporating consolidated Income and
For the
ear ended 31st March 2024
Unrestricted
Restricted
2024 Unrestricted
Total
Re51ricle(I
2023
Note
Inc<xne from:
Donatlons and legacies
255,001
35.179
290,180
267,503
26,393
293,896
Charitsbl• adivltl•s:
Grants
ProduGb"ons
Subscripiions
Education
Agency, royalties and
other income
Merchandising
75,168
S40,370
246,564
1,339,422
771,765
846.933
540.370
246,564
1.339.422
144,353
529,140
234,736
1.264,360
848,222
992.575
529,140
237.195
1.266.520
2,459
2,160
50,297
942
50,297
942
39,104
396
39.104
396
Other trading activitie5:
Fundraising evenis and
activities
Commerdal tradlng
253.222
221,116
253,222
221,116
315.844
225,557
315,844
225,557
Investments
21.098
21.098
3.744
3,744
Other Operating in¢om¢'.
Government Grants
35,763
35.763
Total Income
3,003.2
806.944
3,810.144
3,060,500
879,234
3,939,734
Exptndliure on:
Raising funds..
Fundraising, marketing
and promotional
Cotnffler¢ial trading
Charitable activitie5
Other
638.881
214,476
1.986,002
86.401
11,658
650,539
214,476
2.7￿,713
86,402
545,358
185,674
1,812,505
75,886
11.698
557,056
185.674
2,630,815
75.995
714,711
818,310
109
Total Resources
Expended
10
2,925.760
726.370
3.652,130
2,619.423
830,117
3,449.540
Net Incomel(expenditur•l
77.440
80,574
158,014
441.077
49,117
490.194
Fund balance brought
forward al 1° April 2023
1.551,703
2.618,185
4,169,888
1,110,626
2.569.C68
3,679.694
Fund balance carried
forward 8131" March 2024
£ 1,629.143 £ 2,698.759 £ 4.327.902 £ 1,551,703 £ 2.618.185 £ 4,169.888
All sour(x of income are from continuing Ope￿tK)nS. The financial perfomance of Iho Irusl on its own can be
found on note 4.

17
The Chicken Shed Theatra Trust
Consolldated Balance Sheet
As at 31 March 2024
Group
2024
Group
2023
Trust
2024
Trust
2023
Note
Flxed assets
Tangible assets
Investment
12
13
2,171,816
2.246.151
2.161.273
2,239.679
2.171.816
2,248.151
2,161.274
2,239.680
Current Assets
Stocks- goods for resale
Debtors
Bank and cash balances
10.671
927,549
1.800,548
2.738.768
5,089
800,485
1,465,056
2,270,630
14
924,958
1.759,026
2.683,984
798,469
1.394,437
2.192.906
Creditors, amounts falllng
due within one year
15a
(582,682)
(346,893) {523,106)
(302.536)
Net Current assets
2,156.086
1,923,737
2,160.878
1,890.370
Totsl Assets less Current
Liabilities
4.327,902
4.169.888
4,322,152
4.130.050
Creditors. amounts falling due
after more than one year
15b
Net Assets
£ 4,327,902
£ 4.169,888 £ 4,322,152
£ 4,130,050
Funds
Restricted
Unrestricted
16
16
2.698,759
1,629,143
2,618,185
1,551,703
2,698,759
1.623.393
2.618.185
1.511.865
£ 4,327,902
£ 4,169,888 £ 4,322,152 £ 4.130,050
The trustees have prepared group 8¢counts in accordance with section 398 of the Companies Act
2006 and section 138 of the Charities Act 2011. These accounts are prepared in accordance with
the special provisions of Part 15 of the Companies Act relating to small companies and constitute
the annual accounts required by the Companies Act 2006 and are for circulation to members of the
company.
These financial statements were approved by the Board of Directors and authorised for issue on
2810812024..
and are signed on their behalf by:
is
MAThHEW ROSE
Director
LOUISE PERRY
as OFS Accountable Offlcer
Company Registration number.. 02705172

18
The Chicken Shed Theatre Trust
Consolidated Cash Flow Statement
For the year ended 31st March 2024
Group
2024
Group
2023
Trust
2024
Trust
2023
Note
Nel Cash Inflowl(Outtlow}
From Operating Activities
421,170
157,773
444.901
148.302
Returns on Investment
and Servicing of Finance
Interest Received
21,098
3,744
21.098
3,744
Capital Expenditure
Purchase of tangible fixed assets
(106,772) (192,777) 1101,408) (191.249)
Investments
{Decrease)nncrease in cash
£ 335,496 {£31,260) £ 364,591 (£39,203)
Reconciliation of Net Outgoing Resources to
Net Cash (Oufflow)Ilnflow from Operating Activities
Group
2024
Group
2023
Trust
2024
Trust
2023
Net In¢omingl(Outgoingl Resources
Interest Received
Depreciation
Donated Assets
Decreasel(Increasel in stock
(Increase)IDecrease in debtors
(Decreaseylncrease in creditors
158,013
(21,098)
181.113
490.194
192,102
(3,744) 121,098)
184,699
179,814
(15,000)
{5,582)
3,804
1127.064) (392,714) (126,488) (3W),650)
235.788
89,468
220,571
56.382
450,311
(3,744)
163,767
(15.000)
Net cash Inflowl(Ouffiow) from
Operating activities
£ 421,170 £ 157,773 £ 444,901 £ 148,302
Analysis of Net Cash
Grou
Trust
Cash at bank and in hand- at 1S1 April 2023
£ 1,465,052 £ 1,394.435
(Decreaseylncrease in cash during the year
£ 335,496
364,591
Cash at bank and in hand- at 3151 March 2024
£ 1,800,548 £1,759,026

19
The Chlcken Shed Theatre Trust
Notes to the Financlal Statements
For tho year ended 31st March 2024
Background
The Chicken Shed Theatre Trust (also refe￿ed to as Chickenshed) is a registered charity
and a company incorporated by guarantee with no share capital, exempted under
Section 5 of the Companies Act 2006 from the requirement to use "Limited. as part of its
name. It is incorporated in England and Wales under registration number 02705172 and
its regISte￿d office is Chicken Shed Theatre. 290 Chase Side. Southgate, London N14
4PE.
Principal Accounting Policies
(8) Basis of preparation
The financial statements 8re prepared in accordance with Accounting and Reporting by
Charities: Statement of Recommended Practtce applicable to Gharities preparing their
accounts in accordance with the Financial Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102) (effective 1st January 2015), (Charities SORP FRS 102)
and. the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the
company. Monelary amounts in these financial statements are rounded to the nearest £.
The financial slatemenls have been prepared under the historical cost convention. The
principal activities are set out below.
The Chicken Shed Theatre Trust meets the definition of a public benefit entity under FRS
102. Assets and liabilities are initially recognised at historical cost or eslimated fair value
in respect of gifted assets.
(b) Going concem
The ability of the company to undertake its activities is largely dependent upon the
receipt of donations, gtft5 and grants. and revenue from fund raising evenls and activities.
Those revenues cannot be guaranteed and are heavily dependent upon the efforts and
contributions of volunteers, staff, the Executive and the Trustees.
The Trust continues to commit to the delivery of only fully funded projects with processes
in place to explore opportunities for new projects which could evidence viability.
The approach we take to maintaining stsbility needs to embrace the uncertainty of the
time and the changing priorities of our stakeholders (both the community and funders).
Forbjnately cash levels remained buoyant during the year and the latest cash flow
projections considered by the trustees indicate the group has sufficient resources
availabl8 lo meet its liabilities as they fall due for at least 12 months from the date of
signing the financial statement and hence they continue to prepare the accounts on a
going con￿rn basis.

20
The Chicken Shed Theatre Trust
Notes to the Financial Statements
For the year ended 31st March 2024 (continued)
Prlnclpal Accounting Policles (Continued)
(c) Tangible fixed assets
Fixed assets are stated at cost, or at estimated value in the ease of assets donated.
Depreciation is calculated with the intention to wrile off the cost or valuation of fixed
assets on a straight line basis over their expected useful lives at the following rates per
annum:
Leasehold propety
Theatre equipment
Fixtures, fittings and other equipment
2 per cent
10-20 percent
10-20percent
{d) Income
Subscriptions, grants, donations. legacies and gifts are recognised in the period in which
the charity is entitled to the funds, any performance conditions attached lo an award
have been met, it is probable that income will be received and the amount can be
measured reliably. Income is deferred if re￿iVed in advance of entitlement. Entillement
to income is deemed to be the date when the service is provided or an event takes place.
All income is ststed net of VAT. Donated services and goods are recognised as income
when the economic benefit can be measured reliably. General volunteer time is not
recognised as income.
(e) Allocation of expenditure
Expenditure on raising funds includes all costs incurred in respect of activities lo rais8
voluntary income.
Expenditure on Charitable activities includes all costs incurred to enable the charity to
meet its charitable objective5.
Other costs represent those costs incurred relating to strategy, complian￿. constitutional
and regulatory matters.
General overheads. which includes management and administration costs are allocated
in proportion to salary cost and direct costs.
RestrictedlUnreslrict8d Funds
Income recorded within rgstri¢ted funds represents funds that can only be utilised for a project
specified by the donorlgrantor. Income received for a designated purpose that is part of the
integrated seNice provld8d by the Charity is considèred to be an unrestricted fund. Costs
allocated against restricled funds indude direct wsts and an allocation of overheads.

21
The Chlcken Sh•d Theatre Trust
Notes to the Financial Statements
For tha year ended 31sl March 2024 (continued)
Principal Accounting Pollcles (Contlnued)
Unrestricted funds represent fijnds received which are expendable at the discretion of
the trustees in furtherance of the charity's objectives.
(g) Pension c05t5
Contribution5 to a defined contribution scheme are charged as incurred.
{h) Operating leases
The costs of operating leases are charged to the profit and loss account as incu￿ed.
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
trans8Ction v8lue 8nd subsequently measured at their settlement value.
')
Criti¢al accounling estimat8s and areas of judgement
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.
Critlcal accounting estimates and assumptions
The Charity makes estimates and assumptions Concerning the future. The ￿sUIting
accounling estimates and assumptions will. by definition. seldom equal the ￿lated
actual results. The estimates and assumptions that have a significant risk of causing a
material adjustment to the carrying amounts of assets and liabilities within the next
financial year are discussed below.
Income 15 accrued and deferred based upon estimates of future income entitlement
and the timing of when activities will tske place.
Fixed assets are depreciated over their expected lives.
(k) Group financial statements
The financial statements consolidate the results of the charity and its wholly owned
subsidiary Chickenshed Trading Limited on a line-by-line basis. A separate Statement
of Financial Activities and Income and Expenditure Account for the charity has not
been presented because the Twst has taken advantage of the exemption afforded by
section 408 of the Companies Act 2006.

22
The Chicken Shed Theatre Trust
Notes to the Financial Statomants
For the year ended 31st March 2024 Icontlnued)
Grant Analysis
Grants received during the year include the following-
2024
2023
For Children's and Youth Theatre:
BBC Children in Need
Boris Karloff Charitable Foundation
The Childhood Trust
Enfield Local Fund
The Foyle Foundation
The Inflexion Foundation
The Mackintosh Foundation
The Mer¢ers' Company
The Rosemarie Nathanson Charitable Trust
Young Barnet Foundation
The Thistle Twst
86,520
49,328
1,000
10.500
10,500
5,173
17,000
1QO,000
5,000
13,000
5,000
486
15,000
Young Creators scham8:
EBM Charitable Trust
15.000
15,000
For Education:
The Greater London Authority - Young Londoners Fund
John Horniman's Childrens Trust
Office for Students
The Redhill Trust
Enfield New Deal
31.578
2,000
347,210
2,500
30,000
351,351
3,500
Herltage Project..
The National Lottery
245.000
For building, facilities & equipment:
HSBC Foundation
The Story of Christmas
The Greenoaks Charitable Trust
15,000
45,000
5.000
For Outreach projects:
The D'oyly Carte Charitable Trust
Mazars Charitable Trust
John Lyon's Charity
London Borough of Enfield
London Community Response Fund
The National Lottery
MK Rose Charitable Trust
The Thomson Family Charitable Trust
5,376
15.000
33.000
5,000
26,255
49,711
5.000
4,000
50,000

23
The Chlcken Shed Theatre Trust
Notes to the Flnanclal Ststements
For the year ended 31st March 2024 (continued)
Grant Analysis (continued)
General:
American Friends of Chickenshed
The Andor Charitable Trusl
The Basil Samuel Charitable Twst
The Bemard Gold Foundation
Capital Group
Chapman Charitable Trust
Christos Lazari Foundation
The Greenoaks Charitable Trust
Intemational Music and Art Foundation
London Youth
The Madison Foundation
Mazars Charitable Trust
MK Rose Charitable Trust
Peter Deer Associates
The Sheldonia Charitable Trust
The Worshipful Company of Builders, Merchants
Anonymous
17,853
5.000
10.000
5,000
20.000
1,000
29.500
2.000
3,000
20,000
3,000
36.000
5,000
10,000
1,000
15,000
5,000
3,000
3,168
3.000
2.000
10.000
10,000
Total Grants
£ 846,933
£ 992,575
All grants have been recorded within unrestricted funds in accordance with note 2(fj of principal
accounting policies. with the exception of grants received for projects that are not part of the
integrated service provided by the Charity. totalling £771,765 {2023. £848,222). which have
been recorded within restricted funds.
3a. Total Grant and Fee Incomè
Grant and Fee income achieved by the Trust during the year b￿ak8 down as follows:
24
2023
Grant income from the Office for Students
Grant income from other bodies
347.210
499.723
351,351
641,224
Total Grant Income
£ 846.933
£ 992,575
Fee income for taught awards (excl of VAT)
Fee income for research awards (excl of VAT)
Fee income from non-qualifying courses (excl of VAT)
433,500
450.500
426.088
443.636
Total Fee income
£ 859.588
£ 894,136
Total Grant and Fee income
£ 1,706,521
£ 1.886,711

24
The Chick•n Shed Theatre Trust
Notes to the Financial Statements
For the year ended 31st March 2024 (contlnued)
4. Financial Perfonnance of the charlty
The consolidated statement of financial activities includes the results of the charty's wholly
owned subsidiary, Chickenshed Trading Ltd. which operates the trading arm of the trust and
the in-house calering facilities.
The summary financial perf0mlan￿ of the charitable company alone is:
2024
2023
Income
3,629,757
3.714.177
Totsl Income
3,629,757
3,714,177
Expenditure on:
Raising Funds
Charitable Activities
Olher
650,539
2.700,713
86,402
557.056
2,630.815
75.995
Total Resources Expended
3,437.654
3.263,866
Net income
192,103
450,311
Totsl funds brought forward
4,130,050
3.679.738
Totsl funds carried forward
4,322,153
4,130,049
Represented by..
Restricted funds
Unrestricted funds
2,698,759
1,623,394
2,618.185
1,511.865
4,322,153
4,130,050

25
The Chicken Shèd Theatre Trust
Notes to the Financial Statements
For the year ended 31st March 2024 (continued)
Expenditure on raising funds
2024
2023
Wages
Promotion and public
relations
242.991
213,458
Other expense5
- Event Costs
- Promotional costs
- Depreciation (Restricted Fund)
49.413
63.415
11.645
48.316
29.779
10,117
124,473
88,212
Allocation of support costs
283,074
255,386
650,538
557,056
Income earned from other activities
The wholly owned trading subsidiary, Chickenshed Trading Ltd, was incorporated in the UK
(company number 12173455) in 2019 and intends to donate all of its profits eamed to the
charity under the gift aid scheme. Since becoming aclive Chickenshed Trading Ltd has
operated the in-house catering facilities and all commercial trading operations carried on at the
Chicken Shed Theatre Trust. as well as some major events held at extemal locations.
The summary of the financial performan￿ of the subsidiary alone is:
2024
2023
Turnover
Total Income
221.116
221.116
225,557
225,557
Cost of sales and administration costs
214,476
185,674
Net (lossyprofit
6.640
39.883
Amount gift aided to the trust
Retained in subsidiary
40,729
34,089
39,883
The assets arKI liabilities of the subsidiary were:
Current assets
Current liabilities
Total n8t assets
91,115
85.366
5.749
116,023
76.184
39,839
Share capital and reserves
£ 5,749
£ 39,839

26
The Chicken Shed Theatre Trust
Notes to the Flnancial Statements
For the year ended 31 st March 2024 (continued)
Expenditure on Charitable Activities
2024
2023
Wages
National Development and
Training Programme
Produclion and Artistic
Direction
- Front of Hous8 and Box Office
Education
293,326
304.869
400.781
137,239
805,796
434,068
130,545
717,690
1,637,142
1,587,172
Other direcl expenses
- Production and Workshops
Education
Merchandise
Depreciation (Restricted Fund)
106,277
160.922
57
78,455
153.023
141,437
75.228
345,711
369.688
Allocation of support costs
717,860
673,955
£ 2,700.713
£ 2,630.815
The costs of employing stsff are allocated be￿een the headings set out above on the basis of
estimated time allocation but also recognise that many employees are multifunctional. Costs
allocated to the restricted fund include depreciation of £78,455 {2023.. £75,228}, and wages &
direct expenses of £847,915 {2023: £743,082).
Other costs
2024
2023
Wages
Audit
Allocation of support costs
40,600
28,000
17,802
40.171
19,000
16,824
86,402 £
75,995

.27
The Chicken Shed Thgotre Trust
Notss to the Financial Statements
For the year ended 31 st March 20241contlnued}
9. Support costs
2024
2023
Wages
Depreciation
Rent
Light and heat
Cleaning
Maintenance
Insurance
Legal fees
Consultancy Fees
Telephone
Postage
Printing, stationery and computer costs
Travel and Motor
Miscellaneous
Loan interest
Irrecoverable VAT
Bad Debt Expense
Training and recruitment
Currency Variance
402.584
89,714
20,000
85,134
48,047
108.526
65,500
406.845
78.423
17.500
71.365
41.740
92.720
53.886
2,500
2,050
13,434
478
30,215
6,695
45,390
2.550
11.179
522
27.711
6,994
50,975
1233)
90,815
80,359
7,101
1,618
5.110
{2,545)
£ 1,018.737 £
946.165
Support cost5 allocated to the restricted fund are in respect of Kensington & Chelsea and
amount to £45 (2023: £245).
Allocation5 are based upon the proportion of direct expenses with weighting given to direct
payroll charge to=
2024
2023
Charitsble expenditure
Raising funds
Other costs
717,860
283,075
17,802
673.955
255.386
16,824
£ 1.018.737
946,165
10. Net Incomel{exponditure)
(a) Net incomel{expenditure) is stated after charging..
2024
Depreciation - restricted fund
unrestricted fund
).100
91.013
25,410
20.000
85,345
79,353
25,400
17.500
Audit fees
Operating leases- land and buildings

28
The Chlcken Sh•d Theatre Trust
Notes to the Financial Statements
For the year ended 31st March 2024 (contlnued)
11. Staff Costs
Staff costs during the year were as follows..
Group
2024
Group
2023
Trust
2024
Trust
2023
Wages and salaries
Social security costs
Other pension costs
Contract slaff
2.135.736
183.316
52.758
22.240
2.044,802
176.983
52.480
32,940
2,064,992
181,252
54,834
22,240
1.986.796
175.617
52,294
32.940
£ 2,394,050
£ 2,307,205
£ 2.323,318
£ 2,247,647
The average monthly number of persons, full and part time, employed by the charity during the
year was..
Group
2024
Group
2023
Trust
2024
Trust
2023
Administration and finance
Artistic and education
Fund raising and publicity
Production
General management..
Front of house
Box office
Building maintenance
Catering
58
12
107
102
95
95
The staff numbers above include 43 full time staff (2023: 42) and 64 part time (2023: 60). but
exdude a pool of over 200 regular volunteers.
None of the directors received any remuneration in respect of services provided, neither were
they reimbursed expenses incurred on behalf of the charity. Remuneration to key management
personnel, who are Considered to be the executive officers amounted to £111,516 {2023:
£110,308}.
No employee (2023- nil) eamed more than £60,000 in the band £60,CNJO - £70,000.
Managing Directorfs Remuneration was as follows..
2024
Salary
Pension C05tS
£ 54,133
£1,624
£ 53,562
£1,592

29
The Chicken Shed Theatre Trust
Notes to the Flnanclal Statements
For the year ended 31st March 2024 (continued)
The Managing Director's basic salary is 2.21 times the median pay of staff, where the median
pay is calculated on a full-time equivalent basis for the salaries paid by the Trust to its staff.
The justification for the remuneration package for the Managing Director is set by the Board of
Trustees and is benchmarked across similar sized organisalions within the charity sector. In
future the TTUSt will be passing this responsibility to a new Remuneration Committee within the
Board that will be tasked wth the development of a robust remuneration management
framework for the Trust. with the aim of ensuring that the Trust is well staffed with suitable
qualified and experienced staff within an agreed bJd98t.
Perfomance of the Manging Director role will be carried out through an annual appraisal by a
member of the Trustee Board.
Pension costs:
The charity contributes to a defined contribution scheme. The charge to the profit and loss
account was £52.758 (2023.. £52.480) and at the year*nd there were outstanding contributions
of £11,317 (2023.. £11,157),
12. Tangible Fixed Assets- for the Group
Fixtures,
Fittings
and other
ment
Leasehold
Pro
Theatre
E ui ment
Total
Cost or valuation
At 1st April 2023
Additions
Disposals
3,458,160
990,851
35.776
69.718
1,133,638
70,998
131.960
5.582,649
106.772
201,678
At 31sI March 2024
£ 3,458.160 £
956,909 £ 1,072,676 £ 5,487.745
Depreciation
At 1st April 2023
Charge for the year
Disposals
1,665,812
69.165
851,624
30.941
69,718
819,058
81,007
131,960
3.336.494
181.113
201,678
At 31st March 2024
£ 1,734.977 £
812.847 £
768.106 £ 3,315.929
Net book value
At 3191 March 2024
£ 1.723.183 £
144,062 £
304,571 £ 2.171,816
At 31st March 2023 £ 1.792,348 £
139.227 £
314,580 £ 2.246,155

30
The Chicken Shed Theatre Trust
Notes to the Financlal Ststements
For the yoar ended 31st March 2024 (continued}
12. Tangible Flxed Assets (continued)
For the Charitable company
Fixtures.
Fittings
and other
ment
Leasehold
Theatre
ment
Totsl
Cost or valuation
At 1S1 April 2023
Additions
Disposals
3,458,160
990,851
35,776
69,718
1,124,895
65,632
131,960
5,573.906
101,408
201,678
At 3151 March 2024
3.458.160 £
956,909 £ 1.058.567 £
5,473,8
Depreciation
At 1 st April 2023
Charge for the year
Dispos81s
1.665,812
69,165
851,624
30,941
69,718
816.791
79,708
131,960
3.334,227
179.814
201,678
At 31 Sl March 2024
1,734,977 £
812,847 £
764,539 £
3.312,363
Net book value
At 3151 March 2024
1,723,183 £
144,062 £
294,028 £
2.161.273
At 31sl March 2023 £ 1.792,348 £
139,227 £
308,104 £
2.239,679
The net carrying value of langible fixed assets for the group and charity company includes the
following in respect of assets held under finance leases or hire purchase contracts.. £7,657
{2023'. £15,314). Depreciation charge for the year in respect of leased items was £7,657 (2023..
£7.657).
13. Investments
In 2019 Chicken Shed Theatre Trust invested in 1 ordinary share of £1 in its wholly owned
trading subsidiary Chickenshed Trading Limited {company number 12173455), which is
incorporated in England and Wales with registered address 290 Chase Side, Southgate,
London. N14 4PE. This is the only share allotted, called up and fully paid, The activities and
results ofthe subsidiary are summarised in note 6.

31
The Chicken Shed Theatre Trust
Notes to the Financial Statements
For the year ended 31st March 2024 (continued)
14. Debtors
Group
2024
Group
2023
Trust
2024
Trust
2023
Trade debtors
Accrued income
Prepayments
Amount due from subsidiary
Other debtors
223.508
569.799
112.627
87.758
602,088
86.207
220.915
569.799
112.629
85,742
602,088
86,207
21,615
24.432
21.615
24.432
£ 927.549
£ 800.485
£ 924.958 £ 798.469
15a. Creditors. amounts falling due within ono year
Group
2024
Group
2023
Trust
2024
Trust
2023
VAT, payroll taxes and social
security payable
Deferred income
Accruals
Amount due to subsidiary
Other creditors
58.064
264.495
83,718
49,250
54,322
115.267
{12,984)
264.495
83,716
25,790
162.090
{2.777}
54,322
109,518
31.826
109.647
176.407
128,054
£ 582,682
£ 346,893
£ 523.106 £ 302,536
Income has been deferred vthere it is considered that conditions relating to the recognition of
income have not been met or where income specifically relates to an activity that will take pla
subsequent to the year end. All income deferred in the prior year was recognised in the current
period.
Income deferred at year end includes £250,250 relating to a 501h Anntversary Gala event to be
held in November 2024.

32
The Chicken Shad Theatre Trust
Notss to the Financlal Ststements
For the year ended 31st March 2024 (continued)
15b. Creditors, amounts falling due after more than one year
Group
2024
Group
2023
Trust
2024
Trust
2023
Loans
Hire purchase agreement
Assets purchased under HP are secured against the liabilty due.
16. Analysis of Net Assets Between Funds
Restricted
Funds
Unrestricted
Funds
2023: Group
Total
Fixed assets
Net current assets
1.864.691
753,494
381,460
1.170,243
2.246,151
1,923,737
£ 2.618,185 £ 1,551,703 £ 4,169,888
Restricted
Funds
Unrestricted
Funds
2023: Charitabl• Company
Total
Fixed assets
Net current assets
1,864,691
753,494
374,989
1.136,876
2.239,680
1.890,370
£ 2,618.185 £ 1.511,865 £ 4.130,050
Restricted
Fund
Unrestricted
Funds
2024: Group
Fixed assets
Net current assets
1.846,130
852,629
325,686
1,303,457
2.171,816
2,156,086
2,698,759
£ 1,629,143 £ 4.327.902
Restricted
Funds
Unrestricted
Funds
2024: Charitable company
Total
Fixed assets
Net current assets
1.846.130
852,629
315,144
1,308,249
2,161,274
2,160.878
£ 2,698,759 £ 1,623.393 £ 4.322.152

33
The Chicken Shod Theatre Trust
Notes to the Financial Statements
For the year ended 31st March 2024 (continued)
Group and charitablè company Restrlcted funds (conllnued)
Brought
Forward
In¢omlng Outgoing
Resou￿$ Resourc88
Carrled
Fo￿ard
National lottery
Building & Facllllles
Artistic programme
Chickenshed Kensington & Chelsea
Children & Youth thèatre Programm8
Education programm8
Educatlon programme- Equipment
Outreach programme
National Lottery Heritsge Project
AVIIT & theatre equipment
Studio theatre development
Young Creators prcgramme
Kltchen Refurbishment
Rayne Theatre Flooring
Equipm8nt & Repalrs
Referral Prc¥3ramm8
Access & Participation
The Wendy House Project
Children Connecting Communilies
1,760.196
60.000
51.316
8,014
45,428
143,240
30,829
105,469
245,000
40,841
27,865
7,025
31,872
5,180
(69,165) 1,691,031
{8,871)
51.129
(23.332)
27.984
{8,014)
(26,268)
(348,252)
12,731 }
{48,012)
{102,269)
11,917)
{899)
115,118)
14,104)
12,580)
(2,285)
{1,680)
133,980)
40,486
349,710
59,646
144,698
28.098
137.006
142,731
38.924
26,966
6,907
27.768
2.580
57,715
84,840
141.699
29.037
79,549
15,000
60.000
86.520
175,679
29,037
26,893
(26,893>
£2,618,185 £ 806,944 £ (726,370> £ 2.698,759
National Lottery funding is restricted to the costs of the constnjction and fumishirvJ of the theatre
building, and depreciation of thos8 costs, over the period of the lease.
17. Taxatlon
The charitable parent Gompany is éxempt from taxatlon of income and gains falling within Section
478 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992 to
th8 extent they are applied to lis charitsble objects. During the year to 31 March 2024 the trading
subsidiary generated 8 surplus, will have exceeded its prior year cumulatSv8 d8ficii, and intends to
make a gfft aid donation to The Chicken Sh8d Theatre Trust within 9 months of 31 March 2024. The
combination of a donation from reseNes plus brought forward tax losses in the subsidiary shoukl
ensure no liability arises from this year.
18. Lease and capltal Commitrnents
Totsl lease C¢Jnmitm8nts in respect of operating lease rentsls which expire:
Land and Buildin
2023
20,OC(I
80.000
180.000
Due within 1 year
Within 2-5 years
S years +
20,000 £
80,000 £
160,000 £
All lease rental costs exclude VAT. the cost of which is mostly i1￿0verable.
During the year the lease that The Chicken Shed Theatre Trust has wlth The Chick8n Shed Propety
Company was revised, along wilh the changes to the head lease that The Chicken Shed Propety
Company has with th8 London Borough of Enfield.

The Chicken Shed Theatre Trust
Notes to the Financial Statoments
For the year ended 31st March 2024 (continued)
19. Related Party Transactlons
The Chicken Shed Theatre Trust rents a property from The Chicken Shed Property Company on
which an annual rent of £20,00012023: £20,CKIO) is payable. There are other transactions between
the companles and amounts disbursed by The Chicken Shed Th8atre Trust on behalf of The
Chicken Shed Propety Company and overall at 31" March 2024 The Chicken Shed Propety
Company owed The Chicken Shed Theatre Trust £21.615 (2023: £24,405).