2025-03-31-accounts

CHICKENSHED THEATRE CHANGING LIVES ow THE CHICKEN SHED THEATRE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS For the year ended 31st March 2025 Company Registration Number: 02705172 Charity Number.. 1012369

The Chicken Shed Thoatre Trust Contents Page Reference and Administrative Details The Chairman's Summary The Oryanisation Legal Structure & Objecis Govemance Management Risk Assessment Reserves Policy Statement of Public Benefit Format of Accounts Annual Report of the Directorsl Achievements and Perfomance Overview Strategies Employed to Achieve Charity's Aims & Objectives Performance Young Company Education Community & Outreach Training & Partnerships Fundraising Volunteers Financial Results & Commentary Directors Auditors Disclosure of the Informatron to Auditors 10 11 12 12 12 13 Statement of Directors, Responsibilities 14 Independent Auditorfs Report 15 Financial Statements 19 Notes to the Financial Ststements 22

The Chicken Shed Theatre Trust Reference and Admlnlstrative Details Dlrectors: Simon Allford Pete Constanti Richard Croft Chris De Pury Martin Gatsen Anthony Gibbon (Chairman) Kathleen Hall Brendan Kerr The Hon. Natasha Rayne Lady Rayne Lacey Aref Lahham James Lock Nick Millican Ashley Muldoon Murray (appointed 6th October 20241 Matthew Rose (Treasurer) (resigned 18th January 2025) Theodor Sergiou Prof. Jonathan Shalit OBE Phoebe Vela-Hit¢hcox (resigned 181h Jun8 2025) Marcus Ward {appointed 4th March 2025} Non•Ex8¢utlve Dlrectors: Dame Judi Dench CH DBE (resigned 10tt1 February 2025) Execullve Offlcers: Louise Perry (Managing Director} Paul Morrall (Director of Education &Training) Honorary Prèsldents: The Hon. Natasha Rayne (President) The Lady Rayne Lacey (President Emeritus) Ambassadors & Guardlan8: Jo Collins MBE (Founder) Mary Ward MBE {Founder) Dame Judi Dench CH DBE Company Secretary.. Oaniel Beacock Registered Offlce: Chicken Shed Theatre 290 Chase Side, Southgate, London. N14 4PE Company Reglstratlon: Number 02705172 (England and Wales) Reglstered Charlty.. Number 1012369 Bankors: Barclays Bank plc Media Bank Centre 1st Floor, Soho Square London W1D 3QR Audltors: Ajliotts LLP Manfield House 1 Southampton Street London WC2R OL

The Chicken Shed Theatre Trust Thè Chaimian's Summary For the year ended 31 Ma￿h 2025 As I said at the beginning of last year's rep¢)rt, 2025 marked the Soth anniversary of Chickenshed. We celebrated wth an event at the Royal Institute of British Architects {RIBA) where very generous donors were entertained by our young pèople. The event helped us to maintsin our financial resilience during the year and fundraising targets were exceeded. Other milestones were also achieved. We deèpènèd our community engagement and strenglhened our public profile. The record breaking success of our Christhias show. 'Panl' was particularly pleasing as was the fact that wè managed 320 performances across thity productions. Chickenshed was awarded a Gold raling in the Tea¢hing Excellencé Framework Irecognising outstsnding qualty in teaching and student outcomes> and retainéd its status as a Centre of Excellence in Inclusive Education. We r8ceived continued national recognition from the offi￿ for Students, IQM and the Matrix Stsndard for qualty in infomiation. advice and guidance. Training and outreach partnerships were expanded with over 3IJO organisations engaged. As far as Inclusion and participation targets arè rnncernèd, in excess of 1,000 people engaged weekly a¢ro$s early years provision, formal education programmes. youth theatre and wider community initiatives. Over 15,000 young people w8r8 involvéd in outreach projects. In the year ahead we inlend to focus on updating and improving our infrastructure. collaborating with educators, artists and community leaders whilst platforming community voices to inform social change. Furthemiore we intend to invest in new productions that refle¢t lived experiences and promote social transformation. None of Ihe above would be possible wthoul thé continued commitment of Louise Perry and the Executive Team and the Trustee Board. The tatter's vitsl role in fundraising. donor stewardship and event leadership was On￿ again excellent. At this point I would liké to express my particular thanks to the deputy chairman, Ashley Muldoon, and, as they stsnd down from the Board. Martin Gafsen and Matthew Rose. Matthew's longstanding involvement with Chickenshed and selfless dedication to our cause has been er￿[MOuS1Y appreciatéd. Martin's guidance - as one of the people that l asked to help at the point that I took over as ¢hair in 2019,. when our financial position was concerning - was particularfy benefiaal to Chickènshéd and me personally. To Tony Glbbon IAug 22, 2025, 2'.18pml Tony Gibbon Chairnian, The Chicken Shed Theatre Trust 22 Aug 2025

The Chlcken Shed Thoatre Trust The Organlsatlon Chickenshed is an inClus￿e theatrè company whose vision is the creation of a soaety which enables everyone (regard￿8$ of background, abilty or affluen¢e) to flourish - with the contributions to their commLJnilies actively welcomed. Our part in realising that vision, our mission, is to creata enl8rtaining and outstanding theatre, which celebrates diversity and inspires positive change. Structure, Govemance & Management Legal Structure & Objects The Chicken Shed Théatre 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 ad as Trustees and Diredors of the charity and company respectively. The overall objects and powers of the Trust are sel out in the Memorandum and Artides of Association. Th8 object for which the company is established is th@ advancement 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 th8 community by assisting them in their development as members of society. Governance The Board of Directors has full legal responsibility for the corporate governance of thè Chicken Shed Theatre Trust. Directorsrrruslees are required to act in accordance with the companws Memorandum and Articles of Association and as required by Ststute. Directors are 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 organisation, each new Director is provided with specific tailored information, including., copies of Governing Documents, Board Minutes, Annual Accounts and the Charity Commission's booklet °The Essential Trustee.. that you need to know" Opportunities are provided fof new Directors to engage with the Chairman and Managing Dirèdor, as well as meeting with staff working wilhin their own area of specialism. In accordance with the Articles of Association the following Directors reti￿￿ by rolalion al the Annual General Meeling119th June 2024} and, being eligble, sought r&appoinlment'. Chris de Pury, Kathleen Hall, Natasha Rayne, Lady Jane Rayne and Jonathan Shalf( were re-appointed. The Board meet quarterly and review cross-organisation performance and development. Finance is the responsibility of the Finance Committee, which in the year to 31 March 2025, consisted of the Treasurer of the Trust, Hèad of Finance (who is the Company Secretary) the Managing Director and Board trusteés. This Committee convenes every tVKfy months. It oversees the development of business plans and recommends the Annual 8udget to the Board. It reviews progress through the management accounts and r&forecasling process, tightly monitors overheads and exerts rigorous control ovèr all outlays. Being responsible for monitoring income delivery is an essential part ofthe monthly discussions ofthe Finance Commtitee. Managomont The operational running of the theatre company is delegated to the Managing Director, supported by the Executive Team and Management Board. All groups meel regularly lo dis¢u5S the operations ofthe company, assessing progress against artistic, education and business plans. Communication within the company, and to the wider Chickenshed Community, 15 facilitated through face-t¢>face briefings (induding departmental. staff and volunteer meelingsl, complemented by Communications via the Sharepoint intranet and bespoke bulletins. Key areas discussed by the Management Board include He81th and Safety and Human

The Chlcken Shed Thealre Trust The Organlsatlon {continued) Resources. 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 work. Rlsk Assessment Systems of internal control within the Twst are designed to provide reasonable ieassurance against material mis-statement or loss. These indude: strategic and operational plans and an annual budget Consideration of financial and noTrfinancial results on a regular basis Identification and management of risks The Board has overall responsibilty for ensuring that risk is managed in a constructive and considered manner and judge that the systems cuffently established mitigate the major risks idenlified arKI are appropriate for the present size of the charity. The most significant risks affecting the Charity are liquidty and cash flow risk. The Finance Committee continues to monitor this aspert of Ihe company's operations on behalf of the Directors. through review of management ￿TrUnts and repforecasting, particularty in relation to income. Reservès Poliey The Charity continuès f(s commitment to build meaningful reseNes, and this year markéd further progress in our stèps to achieving this. At the year end the charty had free reserves of £2.480.078 12024.. £1,629,143>. The Board of Trustees have examined Ihe charity's requirements for reserves in light of the main risks to the organisation. It has estsblished a policy whereby the unrestricted funds not committed or invested in tsngible fixed assets held by the Charity should be be￿een 3 and 6 months of operational expenditure. At 31 March 2025 the Charity's reseNes are within this range. The Trustees review the level of ReseThes regularty and the Reserves Policy annually to tske account of thanging circumstsnces. Statement of Public Benefit The Directors confimi that they have complied wth the duty in section 4 of the Chanties Act 20tfi to have due regard to public benefft guidance published by the Commission in detennining the activities undertaken by the charity. Forniat of Account8 The accounts attathed on pag8s 19 to 37 have been drawn up in compliance wilh A￿IntIng and Reporting by Charilies: Statement of RecommerKled prad[￿ applicable to charities preparing their accounts in acwrdance Ihe Financial Reporting Stsndard applicable in the UK and Republic of Ireland (FRS 102) (effective 1st January 20151, (Charities SORP FRS 1021 and the Companies Act

The Chicken Shed Theatre Trust Rèport of the Directors - Year ended 31•t March 2025 Overvlew Chickenshed is an inclusive theatre and education provider with a vision to support a society that enables everyone {regardless of background, ability or affluence) to flourish. Our mission is to develop a unique environment Ihat empowers children. young people and adults to define and seek solutions to their individual, community and social challenges. Through prograrllmes and activilies facilitating education, theatre, participation, and professional training, Chickenshed breaks down battlers lo 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 diverse 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 dismanlie the barriers to their indusion. We emp0v￿r Indivlduals, bulldlng transferable skllls and providing platforms to refl8ctthes• back to their communltles: We support the presence. participation and achievement of all citizens. We provide access to adaptable Greative environments, which are defined by the posrtive 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 environment5. We change hearts and mlndsmlntroduclng new audlencos to the posltlve Impact of Incluslon: We provide effective plaffoms for the lived éxperience to become a tool for soGial change. We challenge reduGtionism and silo thinking when designing interventions and prograrnmes. Through relocation of resources and leadership responsibility, we reposition power for change back within the community. We transform Instltutlons*eneratlng evlden¢e-based approaches Ihat can lead to so¢lelal change: Through our projects and programmes, w& establish an approach to inclusive practice and policy which can be relevant to other areas of arts and education Sectors. We seek active partnerships with organisations that challenge the limitations of existing inclusion practice and policy, in order to establish the foundation that sustainable divers requires. We recognise that a strategy for inclusion should consider the three indicators,. ac￿sS, participation and achievement. Our Theatre, Education and Participation programme is designed to provide regular, meaningfijl and high-quality a￿$S to indusive performing arts participation and education for a wide range of ages and backgrounds. On a weekly basis. Chickenshed is hometo 700 members ofthe 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 children, 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 theatres, nurseries and schools. 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 8OO/a would identify as having an additional requirement for support, which creates thallenges for them when accessing Other communty activities. All of these individuals are given regular access lo high-quality creative arts participation. teaching and production resources.

The Chi¢ken Shed Theatre Trust Report of the Director¥- Yèar ended 31st March 2025 (Continued) The demand for these activities 1$ evidenced through the retention and continuation rates of OUT projects, audience numbers and waiting lists for our programmes. Strategles employed to a¢hlevo the Charity's Aim$ and Obi8ctives In pursuit of our charrf(able aim of the advancement of education in the fields of the arts, principalty for the benefit of young people, we have conlinued to rèach our b8neficiaries through focusing our work in the key strategic areas of Perfomiance, Education & Outreach and Participation. Key activrties and achievemerrts are detsiled below. 50th Annlversary: Honourlng the Past, Shaplng the Future In 2024. Chickenshed proudly marked its 50th anniversary- a mileslone that honoured five decades of pioneering inclusive theatre. To celebrate this legacy and ensure it is preserved for fLrture generations, we delivered Echoes, a major heritage projèct made possible Ihrou9h £250,000 of fiJnding from the National Lottery Heritage Fund. Echoes explored Chickenshed's rith history through five decade-themed strands, each captursng stories of crestivity, ¢ommunity. and social impact. The project placed storytelling at its heart, collecting ovèr 80 oral histories and invofving people of all ages in a tynamic programm8 of workshops, performances, exhibitions, and cts<r8ated events. Beyond documenlalion. the project reconnected our past with our presenL building nèw bridges across generations and strengthening our communty. Reconn8cllon: Past members, alumni. and audiences rfrengaged wtth Chlckenshed, reigniting long-held bonds and inspiring a renewéd sense of belonging. Reach.. Our partnership neknrk tripled, from around 50 to over 150. encompassing schools, youth seNicès, and grassroots organisations. Participation: Children. youn9 Peoplè, okler adults, and communty groups COw¢urated events that brought shared history to life through creative expression. Herltage Preservatlon: Oral histories were professionalty archived. and new digital assets, including an interactive timeline arKI documentsry film. ensure the accessibility of our story to all. Capacity Bulldlng: Over 60 staff and volunteers gained new skills in oral history. evaluation, curation, and project delivery. embedding lasting capability within our organisation. Wellbelng Impact: Participants across generations reported increased confidence, purpose. and emotional connection. Echoes has made a lasting contribution to Chickenshed's organisalional development. It has deepened our visibility and strèngthened relationships with local authorities and community stakeholders. A stronger culture of learning has emer9ed, infomied by you1￿led insight and independent ev81uation, sh8ping best practices across programming, engagement, and strategic planning. A highlight of our anniversary year was the production of Wonder Out of Chaos. a feature documentary capturing Chickenshed's extraordinary journey. Produced by DT Films UK, the film offers a powerful narrative of transformation through the arts. bringing our story to new audiences and reinforcing the enduring impact of our work.

The Chicken Shed Theatre Trust Report of the Directors - Year ended 31st March 2025 (Continued} THEATRE & PERFORMANCE Chickenshed's professional performar￿e programme provides rich opportunities for students and Young Company members to be mentored alongside our professional artistic staff, thus developing essential transferable skills for the future. The creative prDce5s includes systematic mixed stakeholder feedback sessions, youth-guided devising workshops and young creator roles embedded within all crealive teams of public performances. Over the past year, our main house theatre space. The Rayne Theatre, has staged 320 performances acro55 30 productions. Our artistic strategy is led by a team of creative leaders who have emerged directly from our education and participation programmes, supported by Chickenshed's Senior Creative Pr0dL￿r5. This model continues to be recognised and celebrated by both our paiticipants and extemal audiences alike. As Chickenshed celebrated its 50th anniversary, our winter and spring produdions draw inspiration from our rich creative legacy while purposefulty spéaking to the present. Panl, our 2024 winter show, was a powerful reimagining of Péter Pan. chos8n by public vot8 from ten classic Chickenshed titles. Performed by over 800 young people. Panl honoured the Spirit of imagination, inclusion. and sharèd storytelling that has defined Chickenshed for five decades. Thè production blended nostalgia with fresh perspertives and ￿arne the highest-grossing winter show in Chid(enshed's history. 'There s nothing quite as uplith'ng as a Chickenshed Ghristmas show.. the sigljt of some 100 expertly drilled youngsters - inoluding teenage students of the theatre s education programme. gently guiding liny Young Company members, with everyone giving it their absolute all- reaffirms your faith in humanity." -The Stage In spring, Chickerished revived The Washing Line, an original production first staged in 2017. This powerful. immersive piece explored the rise and fall of the Jonestown cult through music. movement, and multimedia. Both productions embodied the core values of Chickenshed: inclusive ensemble work, authentic storytelling. and the belief that every voice adds value. They also setved as a bridge between our past and our future- empowering the next generation to carry forward the legacy of transformative, community-rooted theatre. YOUNG COMPANY Chickenshed's Young Company is built upon participatory. inclusive theatre techniques with youth- guided and youth-led best practice infr)ming all strategic planning and activity. The Young Company has a commitment to empower young people to lead exploration of collective peer perspects'ves on social challenges and particularly issues relevant to inclLtsion. In devising theatre that reflects this focus, they share this exploration in a way that can effect change within the communth'es they define as relevant to their access and achievement. "Chickenshed is on8 of the few things me and my brother have in common - it's a place we can both exisl differently. Chickenshed is a very good exemplar of what society and the world can and really should funclion like" -young Company member

The Chlcken Shed Theatre Trust Report of the Directorn- Year ended 31st March 2025 (Continued) As part of their annual programme, Chickenshed took part in the National Theatre C¢)nnections 2025 Festival in August2025. Young Leadèrs from our Young Company chose No Regtsts by Gary McNair, a montagevbased play that encouraged creative éxploration. Directed by young director Maya Nielsen and Creative Prt)ducer Robin Shillinglaw. the cast developed the piece through workshop5 at the National Theatre and at Chickenshed. It was perfom)ed at Chickenshed and later at artsdepot in Barnet as part of the national festival. EDUCATION Chickenshed delivers a BTEC Level 3 National Extendéd Diploma in Perfoming Arts, a Foundation Degree in Inclusive Performance, and a BA (Hons) topup. Across these three programmes, 170 students attend annually. Chickenshed's recruitment process indudes extensive community outreach work in sewndary Schools. ensuring pathways into fvrther and higher education remain open to individuals who are often exduded from traditional routes. Chickenshed's inclusive m¢)del ft)r education continuously seeks out new ways to support individuals in closing the achievement gaps that occur betsyeen different equalty groups. The mentor and peer support model provides an additional resource for every student. A signifir2nt proportion of these mentors are graduate$ of the FE and HE courses, bringing live&experience of the challenges many students face. This wrap-around care complements the teathing team and ensures, no matter how severe or complex. the additional need of each individual can be met, ensuring they succeed in their education journey. Students steer the development of modules in outreach and professional employability and placement empowering the students to address their ￿MmUnitIes. Challenges. Our Inclusive Professional Partnership Ne￿orK (IPPNI, launched in 2021, incorporating education, communty and social indusion organisati¢Jns, is thriving. achieving more work placements for students and training delNered by Chi¢kenshed's lived experience experts. IPPN members consistendy acknowledge the value ch1thens￿d students bring to the work they do. Chickenshed continues to lead the sector in indusive educalion. Our access targets remain deliberatety ambitious, set at least 20 % higher than national average$ for students from Black and global majority backgrounds and those living in areas of social priority. Targets for students with identified needs or disabilities are up to 450/0 higher than thè national average for higher education institutions, and similarfy elevated for those wtth multiplé disadvantages. including care experience. Many higher education providers do not routinely collect this dats dué to low numbers. at Chickenshed. we make these students visible and prioritised. In 2024125, we èxceeded our access targets for higher education and met or surpass6d all fijrther education intake tsrgets. Notably, Black and global majority representstion in FE cohort exceeded national averages by 20°/0. Outcomes and Achievement Higher education success ratss remained strong, with an average pass rate of 959/0 across our courses. well above national benchmarks. Foundation Degree studénts achieved high-grade outcomes (First or 2:1} at or above national averages for most underrepresènted groups. While outcomés for students wth disabilities were 60/0 lower than genéral national benchmarks. they significanty outy)erformed averages for sludents with similar profiles of disability and disadvantage. Our inclusive model, which supports a broad range of students including thos6 with Education, Health and Care Plans, has been recognised by the Officè for Students for the very unique steps Chickenshed take to increase a￿e$S for the widest po$sible studént need. Foundation Degree and BA students from Ind8x of Mulb'ple Deprivalion IIMD) backgrounds or wilh muttiple needs consistently matthed or exceeded national averages both in pass rates and hig grade outcomes.

The Chl¢ken Shed Theatre Trust Report of the Dlrectorg - Year ended 31st March 2025 (Continued} 'Chickenshed is Ihe place where they see you for you and not for yourgrades or disabililies, this really made me feel like I finally fft in somewhere and I don't have to pretend to be someone I'm not" -BTEC Graduate 2025 Further Education and Progression Our FE programme continues to deliver strong outcomes. Performing arts grades exceed national averages across all underrepresented groups, including high-grade achievement. A key indicator is the 'disiance travelled, by sludents. Of those entering withoLrt the required GCSE grades for BTEC Level 3, 91 O/D passed, and 54 % of those achieved a merit or distinction. Furthermore, 880 progressed to higher education, significantly exceeding national averages by 2W5•1ts for mainstream leamers, and 4>500/0 for those with complex needs or disadvantage. Student Support and Wider Initiatives In response to the cost cf living crisis and rising mental health needs, Chickenshed maintained its ounselling, peer mentoring, and hardship support. These interventions, along with help for food and travel expenses. have proved vilal in ensuring students rAn remain engagèd, prèsenl. and successful. In the third year of Office for Stud8nts initiative funding. we invested in.. Professional production resources for educat'on projects SpeGialist training and performance development Expanded outreach and énhancement programmes Targeted support to reduce barriers in access, partiCiP8tion and progression We also expanded our 'Bridge Programme,, which offers £500 paid contracts to recent graduatès to help bridge the gap into employment within the inclusive arts sector. Outreach funding enabled new partnerships, including with the National Children's Bureau, University of Kent, and Flavasum Trust, particularly supporting interventions addressing youth exploitation in areas such as Luton. National Recognition Chickenshed was awarded a Gold TEF Award by the Office for Students, recognising: Outstanding student outcomes and learning experienc8 Consistent support for underrepresented Students Significant efforts lo remove extemal barriers to achievement Now in the second year of a four-year award period, Chickenshed is proud that its inclusive hwher education model has been formally recognised as sector-leading. In 2025, Chickenshed retained its status as a Centre of Excellence in Inclusive Education from the National Inclusion Quality Mark IIQM). Students were integral to thi5 process, and we Continue to share best practice with education professionals nationally. We were also awarded the Matrix Standard for Infomiation, Advice and Guidance {IAG), and secured a successful new FEIBTEC tender from Capital City College Group ICCCG} in July 2025, marking another strong year for Chickenshed Education.

The Chicken Shed Theatre Trnst Report of the Dlrectors- Year ended 31st March 2025 (Continued) COMMUNITY PARTNERSHIPS AND OUTREACH WORKSHOPS As part ofthe continued ambition and commiiment to provide a¢¢ess to inclusive theatre to all those who wish to take part. we have an èxt8nsive OLrtrea¢h programme, delivered at a local, national and international level. In addition to participation opportunities, the programme also establishes spaces for partners to share practice and leaming, in ways that supports continued access to inclusive prc*Jrammes for communities. Although Chickenshed's participants and audiences come from across North London and beyond. induding boroughs such as Haringey and Waltham Forest our physical footprint sits across of London's largest tryxoughs.. Enfield and Barnet. Both include areas of significant socitreconomic disathantage. Enfield. for example, ranks among the most deprived local authority areas in England (41st out of 326 in the most recent Indices of Multiple Deprivation), vthile parts of Bamet fall wtthin the b)west 50 /•. Our outreach programme sets ambitious targets, aiming to deliver more than 800/0 of ils participant and audien￿ engagement in areas where equalty groups are underrepresentèd and communities face multiple disadvantages. By fo￿$Ing delivery in underserved neighbourhoods- including Lower Edmonton, Enfield Lock, Freezywater, Dollis Hill Estate. Grahame Park and Colindale - we have seen strong levels of participation in both education and perfomiance programmes. This has been supported by targeted recruitment, referrals through social support agencies, and the provision of funded subsidies to reduce access barriers. We have a designated post responsible for making links with referral agenciés 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, we have received the second year offunding from private equity fim) Inflexion. Their annual donation of £100,000 supports our A¢￿$$ and Participation Fund, enabling greater access to prts3ramm&s of work induding Young Company, Earty Years and intergeneration projects. 'It reminds me that music. inclusivity and kindness make 8 massive differénce and 'Gladrags' is a shining gxampl8 of a big loving hug. If only it was prescribed on the NHS" -AGEUK Enfield Health and Wellbeing Navigator TRAINING AND PARTNERSHIPS Chickenshed has developed inclusive arts methodology and practice for the past 50 years. During this time, we have supported the In￿p￿.0n, developmènt and grovrth of 19 national. and 4 international. inclusive arts organisations. We continue to offer to be a link bètsvéen these 'Sheds', forming a netsvork of inclusive theatres. Over the past three years we have worked with over 3￿ partners, spannin9 the arts, education, youth participation, public sèrvi¢e. charity and corporate sectors. These partnerships play 8 key role in both increasing the impact of our activities and raising awareness of our model of good practice for inclusion localty, nationally and intemationalty. They are also built on mutual support and learning, with shared insight and wreated solutions helping to deepen the reach and relevan of our worf(. This yearfs partners included.. Arts & Culture Victoria and Albert Museum The British Library Phosphoros Theatre

10 Thé Chickèn Shèd Thgatrè Trust Report of the Directors- Year ended 318t March 2025 (Continued) Edueatlon & Research University of Kent Middles8x University Capital City College Group Inclusion Quality Mark Organisation Triangle Children's Centre Enterprise C¢>operative Trust Youth & Community Services Enfield Black Herrtage Hub Enfield Caribbean Association Enfield Heritage Enfield Carers Centre Cheviols Service for Disabled Children Enfield Trauma Informed Practice Organisations Charity & Soclal Impact Agè UK Solace Women's Aid National Children's Bureau New Citizen's Gateway Sense The Flava5um Trust Nexus 'Chickenshed workshops offeryoung Ca￿r$ the chance to be creative and build their confidence, whilst having a break from their caring role. Free tickets to performances mean they can experience the theatre and the arts, which many of them would not be able to do with their family, and it has inspired some of them to pursue a career in theatre. - Project Manager. Enfiold Young Carers Chickenshed's Inclusion training, provided to education, arts and youth sector partners, has continued to grow a clienl-base across a variety of sectors. 'PerFORmance' is a suite of training, exploring issues related to improving diversily and inclusion strategies, and dismanlling systems and practice which exclude individuals from community and social development. Lived Experien Experts from the partiapant community are at the centre of the training delivery. 'Powerful, real, human, emotional, humbling- just some of the things that our team have said about the training. I've been told about little random acls of kindness following on from the workshop. -PerFORmance workshop participant FUNDRAISING Chickenshed generates revenue through earned income from its charitable activities including performance receipts, membership subscriptions, education tuition, and support fees. Every pound eamed is targetèd to be matched by funds raised through donations, grants, sponsorships, and fundraising events and campaigns. In November 2024, we delivered a major 50th Anniversary Gala at the Royal Institute of British Architects {RIBAI, championed by our Trust88s. This landmark èvènl not only raised £250.000 for the charity but also helped to forge new relalionships and broaden our supportér base. The lega of this event will be instrumental as we look ahead to securing the significant funding needed to ensure our building and infrastructure remain fit for purpose for the next 50 years.

Chlcken Shed Theatre Trust Rèport of the Directors- Year ènded 31st March 2025 (Continued} We were also delighted to retum to our muc￿l0ved fundraising evening at the Hard Rock Café- 8 highlight in our communty calendar and another opportunity to connect with longstanding and new supporters. Our ar)nual Christmas Appeal and mati funding campaign through The Big Give were both major successes. raising vital incotne at a time of growing operational pressures. These appeals reflect the commitment of our whole community families, alumni. audience members, staff, and volunteers- who continue to step fomrd with ge￿r0$ity and enthusiasm. FurKling from Trusts and Foundations decreased slightty by 1¢Y/.. falling from £846.9k in 2023124 to £759.1k in 2024125. Among these were substsntial multi-year grants from The Charity of Sir Richard IAlhittington and John Lyon's Charity. both of which are supporting our long-term engagement with over 20 schools across London. We remain immensely grateful to our Trustee Board. whose personal commitment arKI advocacy have made a meaningful wntribution acr055 the fundraising portfolio this year - from donor stewardship to Strateg￿ introdudions and ev8nt support. Above all, we are thankful to the entire Chickenshed community for théir unwavering ￿lief in our mission. Every gift - whether finan￿al, practical, or personal - plays a crucial role in helping us deliver inclusive theatre and education that transforms lives. VOLUNTEERS Chickenshed's remarf(able group of 200 volunteers, fulfilling over 45 essential roles across all areas of the organisation. continues to ènhance the positNe eXperien￿S provided to all participants. The contribution of our Trustses and support of senior advisorslprofessionals, (who bring specialist support). was a gift of over 11,000 hours to the organisalion. As ever, Ihe contribution of our volunteers is immeasurable beyond the hours they give, their energy. enthusiasm. dedicatron and goo(hvill 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. LOOKING AHEAD: Strateglc Prforltles As Chickenshed moves beyond ts 50th anniversary year. we remain focused on shaping a re5ilienl. inclusive and visionary future. Our strategic ptioritres for the coming year reflect our commitment to creative excellence, secknr influence. and lonterm sustainabilty. Creative Development Building on the artistic momentum of the past three years. induding the success of Rush, Love from Cannen, and The Washing Line. we will continue to invest in bold, original prLxluctions. Oui ctealive work will reflect the lived experiences of our community. challenge assumptions. and speak to the social issues that impact their lives. A Communlty of Practlce We are deepening ourwork with partners, across education, culiure, health and community sectors, to grow a living 'Gommunity of pradice., Thi$ approach enables us to share méthodologies, c create learning environments, and diive inclusive innovation across disciplines. Sustalnable Infrastructuro Ensuring our building and physical infrastructure remain fft for purpose is a key focus. We are working towards securing the resources required to adapt our spaces to meet future needs, with sustainabilty, accessibil￿, and inclusion at the heart of all planning.

12 The Chlcken Shed Theatro Trust Report of the Dlrectors - Year ended 31st March 2025 (Continued} Platfomilng Volees for Change We will continue to elevate the voices of our community, particularly those too often unheard, onto stages, platforms and public spaces where they can help shape narratives and influence systems. Chickenshed's role as a Catalyst for societal change is embedded in everything we do. Financial Results and Commentary In Septem￿[ 2019 the trust set up a new. ￿OllY owned, trading subsidiary named Chi(*enshed Trading Limited, as a result of which the financial statements now show the trust and Ihe trading subsidiary as a group. The intent is that all profits from the tfading subsidiary wll be donated lo the trust through the Gift Aid scheme. The ffinan￿aI performance of the trust alone can be found in Note 4 to the a￿oUnts.. Financial Perfomiance of the charity on page 27 of the accounts. The financial performance of the trading subsidiary can be found in Note 6: Income eamed from othgr aclivities on page 28 of the accounts. The surplus on unrestricted funds for the group for the year ended 31 st March 2025 amounted to £850.935 12024.. £77,440). Total income was 1W/o higher than the previous year at £4.53m, and overall costs also increased by 16.4 /) generating a net surplus (including depreuation) of £280,120 (2024= £158,014). Depréciation charged in the yéar through thè restricted and unrestrictsd funds amounted to £183,35212024'. £181,113). Management continued wth the underlying principtes of the business plan. approved by the Trustees, in growng income and tightly controlling costs. Cost control remains the main objective ensuring that the Trust only delivers projects that are fvlly funded so enabling the Trust lo improve its rèserves position and ensure sustainability going forwards. staff numbers remained largely unchanged compared to 202&24. 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 Aref Lahham James Lock Nick Millican Ashley Muldoon Murray Orr {appointed 6th October 2024} The Hon. Natasha Rayne Lady Rayne La￿V Matthew Rose (resigned 16th January 20251 Theodor Sergiou Prof. Jonathan Shalit OBE Phoebe Vela-Hitchcox (resigned 18th June 2025) Marcus Ward (appointed 4th March 20251 Dame Judi Dench CH DBE {resigned 10th February 2025, but remains as an Ambassador} Audltors The auditors, Alliotts LLP, are willing to continue in office. A resolution for their reappointment and authorising the directors to fix their remuneration will be submitted to the Annual General Meekn'ng.

13 The Chlcken Shed Theatre Trust Report of the Dlre¢tors- Yèar ended 31st Mareh 2025 (Continued) Disclosure of information to auditors Each ofthe persons who are directors at the time when this report is approved confirms that: (al so far as each director is aware. th8re is no relevant audit information of which the charitable ompany'$ auditors are unaware" and (bl éach dire¢tor has taken all thé steps that ought to have been tsken as a director. including making appropriate énquiries of fellow directors and of the company's auditors for that purpose, in order to be awarè of any infomation needed by the company's auditors in connection with preparing their report and to establish that the company's auditors are aware of that information. 22 Aug 2025 The Report of the Direthirs was approved and signed on behalf ofthe trustees on ..................... By Order of the Board Tony Gibbon (Aug 22. 2025, 2.'18pml TONY GIBBON

14 The Chicken Shed Thealre Trust Slatement of Directors, Re8ponsibilitles- Year anded 314t March 2025 The Directors of the Cownpany are responsible for preparing the Directors, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Ingdom Generally Accepted Accounting Practice). Company law requires the directors to prepare financial statements 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 satisfie(J with the incoming resources and application of resources, induding the income and expenditure, ofthe charitable group for that period. In preparin9 these financial statements. the directors are required to= select suitable accounting policies and then apply them consistently., observe the methods and principles in the Charities SORP IFRS 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 ststements on the going con￿rn 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 disclose vAth reasonable accuracy at any time the financial position ofthe charitable company and the group. The financial ststements should comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and the group. and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

15 The Chl¢kon Shed Theatre Trust Independent Auditor's Report lo the Meml)ors of The Chl¢kon Shed Thealrè Trust Year endod 318t March 2025 Opinion Wo have audited the financial statements of The Chicken Shed Theatre Trust Ilhe'parent chaiitable company,) and ts subsidiaries Ilhe 'group'l for the year ended 31 Marth 2025, which comprise the Consolidated Ststsmenl of Flnan¢ial Adlvlts, Consolidated Blance Sheet. Con$olrdaled Cash Flow Slalemenl and notes lo th8 financral slalements, Including a summary of significant accounting pollcies. The financial rep¢)rting framewort that has been applièd In Ih•ir preparation is appl¢¢able law and United KirtsJdom Accounlirg Standards, including FRS 102'The Financial Reporting Standard applicabl& in the UK and Repub￿¢ of Ireland. Iunlted lQwdom Generally Accepted A￿UntIng PractiC6}. In our opinion the financial slalernents.. give a true and falr vi•w of the stale of the group's and parent charmable company's affairs as al 31 March 2025 and of group's and the parent charitable company's incoming resourcos and application of resources, induding ils income and expenditure. for the year then ended., have bgen propedy prepaTgd in accorrlance with United Kirodom Generalty Accepled AGcounling Practice,. and have been prepared in accordance with the requirements of the Companies Acl 2006. Basis for oplnlon We have bèen appointed as audrtor under thè Companies Act 2006 and report in a¢cordan¢e with Tegulations made under Ihal Act. We conduGted our audil in accordance with Inlemallonal Standards on Avdiling (UK) IISAS IUKI} and applicable law. Our respon5bilitie$ under those $landards 2re further described in the Audilorfs responsibilities for the audit of the financial statements seGlion of our report. We are indeFendenl of the group and parent Charr(ab￿ wmpany in accordance wth the elhi¢al r8quirernents that are relevant lo our audit of the financlal $lalements in the UK, inc1￿11ng the FRC'S Ethl¢al Standard, and ¥st have fUlfil￿d our ethical responsibilities in aGcordan¢e wrth th￿fr iequiremenls. We beI￿ve that the audit evidence we have obtained 1$ $ufficienl and appropriale lo provJe a basis for our audit oplnlon. Conclusions rolatlng to going Goncem In auditing the financial slalements, we have concluded that the trust8es' use of the gO￿g con(m basi5 of aC￿Unting in ihe preparation of thg financial staterrnts is appropriate. Based on the work wo have performe(I, we havè not idenlified any material uneertainli95 relat￿n9 to events or cor)ditions that. individually or colleGlivety, may cast Stgnificanl doubl on th8 Group's and of the Company's ability lo continue as a going concern for a period of at least h¥efve months from when the financial statements are aulhorised for Issuo. Our respon$*ilitie5 and tho responsibilities of the trusles' with respect lo going concem are described in th relevant sectlon$ of this reporL 0th8r inforniatlon The trustses are responsib￿ for the other infomalion. The other infomialion eomprisgs the Infomiation inckKled in the annual report. other than the financial st8lements and our auditor's ieport Ihereon. Our opinion on the financial slalement5 does not cover the other infomation and, except to the ox1ent otherwise explicilty staled in our rwort, we do not express any form of assurance or conclusion Ihereon. In connection with our audit of the finan¢ial slalements, our responsbility is to read tho other Information and. in doing so, considgr whether Ihp other infomalion is materialty incon$islenl wrfch the financial statements or our knowlodge obtained in the audit or othe￿iSe appears to be malèrialty mis8laled. If we identify such material inconsislenrjes or apparent material mlsstalements, we are roquirod to determine whgther there 15 a material mis$lalemenl in the financial statements or a material misslatemenl of the other information.

16 The Chl¢ken Shed Theatre Trust Independènt Auditorfs Report to th• mèm￿1$ of Th• Chl¢kon Shèd Th•atr• Twst l¢onlInu￿ Year ended 31st March 2025 If, based on the WO￿ we have performed. we conclude that there is a material misstatement of this other infomation, we are required lo report that fact. We have nothing to report in this regard. Opinions on other rnatters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit.. the infomialion given in the Directors. Annual Reportfor the financial year forwhich the financial slalements are prepared is consistent with the financial ststements,. and the Diredors, Annual Report ha$ been prepargd in accordancg With applicable Iggal reqU1￿ments. Opinion on other mattern prescribed by the Office for Students. Accounts Dirfrction In our opinion, in all material re5pects'. funds from whatever source administered by the group and chaTilable company for specific Pufposes have been properly applied lo those purposes and managed in accordance with relevant legislation.. fvnds provided by the Offiee for Students. UK Research and Innovation linduding Research England}, the Educalion and Skills Funding Agen￿ and Doparlment for Education have been applied in a¢cordan¢e with the relevanl terms and conditions.. and the requirements of the Office for Students, accounts direction for the relevant yèarfs financial statements have been met Matters on whlch we are requlred to report by excepllon In the light of the knowledge and understanding of the group and parenl charitsble company and its environrnenl obtained in the Course of the audit, we have not ider)tified material misstatements in the Directors, Annual report. We have nothing to report in respect of the ft)Ilowing matters where the Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not 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 parenl charitable company s financial statements are not in agreement with the accounling records and retums- or certain disclosures of trustees, remuneration specified by law are not mad&'. or we have not received all the infomiation and explanations we require for our audit. We have nothing lo report in resp+¢t of th• following matters where the offi￿ for Students. accoLtnts dI￿￿1¢n requi￿$ us lo ￿POrt to you it. Ihe group and parent charitable company's grant and fee income, as disclosed in the note to the accounts. has been materially misstated.

17 The Chi¢k8n Shed Theatre Trust Independent Auditor's Reportto Ihe Mgmbers of Thg Chicken Shed Thèatr• Trust Iconllnued Yoar ended 31 March 2025 Ro¥ponsibilitie$ of trustees As explained more fully in tho tru$tees' responsibilities Statement sel out on page 14, the trustees (who are also the dire¢tor$ of the charitable company for the purposes of company lawl are responsible for the prgparation of the financial statements and for being satisfied that they give a Iru& and fair viow, arKI for $uch internal control as the Iruslees detemiine is necessary lo enable the preparation of ffinan¢ial 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 and parent haritable ¢ompany's ability to continue as a going concem, disclosing, as applicable, matters related to going ¢onr£rn and using the going conc*m basis of a¢￿UntIng Unless the trustees either intend to liquidate the eharitable company or lo cease operations, or hav• no realistic alt•rnative but to do $0. Audltor's T•8pon$ibilIti￿ for th• audlt of th8 flnanclal 8tatements Our objectives are to obtain reasonable assurance about whether the financial stalements as a vthol8 are freè from material misstatement, whether due to fraud or error, and to issue an audiiorfs report that in¢ludes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an udit conducted in accordance with ISASIUK) will a￿ayS dete¢t a material misstatement when il exists. Mi$$tal•ments can arise from fraud or effor and are considered material rf, individualty or in the aggregate. they could reasonabty be expecigd to Influen￿ the economic decisions of users taken on the basis of these financial statements. Irregulariiies, including fraud. are instsnces of n¢)n<ompliancé wth laws and regulations. We design procedures in line with our responsibilities. outlined above, lo detect material misstatements in respect of irregularities, including fraud. The 8xient to which our procedures are capable of detecting irregularities. induding fraud, is dètailéd below. Our approach lo identifying and assessing the risks of material misstatement in respect of irregularities, induding fraud and non-complianGe with laws and regulations. was as follows.. the engagement partner ensured that the engagèment team tollectivety had the appropriate competence, capabilities and skills to identify or rècognise non-compliance with applicable laws and regulations- we identified the laws and regulations applicable to the company through discussions with directors and other management. and from our commerual kn￿edge and experience ofthe charity sector; we focused on specifi¢ laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the safeguarding, prevenvprotect, Otsled, health and safety législation. tsxation legislation, dats protection, a bribery, employment, environmental and charity and company legislation., we assessed the éxtént of compliance wth the laws and regulations identified above through making enquiries of managem6nt and inspecting kgal and regulatory correspondence . and identified laws and regulations wère communicated within the audit team regularfy and the team remained alert to instances of non-complianc6 throughout the audit. We assessed the susceptibilty 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 susceptibilty to fraud. their knowledge of actual, suspected and alleged fraud., underslanding the design of the ￿MpanY'S remuneration policies. To address the risk of fraud through management bias and overrKle of controls, we.. ' perfomied analytical procedures to identify any unusual or unexpected relationships,.

18 The Chi¢ken sh￿ Thoatra Tru$t Independent Audito￿9 Rèport to the Members of The Chl¢ken Shed Theatre Tru8t (continued) Year ended 314t March 2025 tested journal entries lo identify unusual transactions.. investigated the rationale behind significant or unusual transactions. In response to the risk of irregularities and non-compliance wth laws and regulations. we designed procedures which included. but were not limited to- agreeing financial statement disclosures to underlying supporbng documentation,. and enquiring of management as to aGtual and potential litigation and daims. There are inherent limitations in our audit procedures described above. The more removed that law5 and regulations are from financial transadions. the less likely it is that we would become aware of nonacompliance. Auditing standards also limit the audrf( prO￿dUreS required lo identify non- compliance with laws and regulations to enquiry of the directors and oth8r managemènt and th8 inspection of regulatory and legal correspondence, if any. Material misststements that arise due to fraud can be harder to detect than those that arise from error as they may involve deliberate concealment or collusion. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Councils website at. ￿.trc.org.ukJaud1tOrSre$pQnsibilIlies. This description forms part of our auditor's r8POrt. Usè of our rèport This report is made solely lo the charitable company's members, as a body, in accordance wth 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 lo 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 cornpany and the charitable ￿mpanY'S members as a body, for our auditwork. foithis report. or for the opinions we have formed. L-..44_ M_4.1 Chris Malj tel (Au- 2L. 202K 2.-b3pml Christopher ￿anIel (senior statutory auditor) For and on behalf of Alliotts LLP. Statutory Auditor Alliotts LLP Manfield House 1 Southampton Street London WC2R OLR 22 Aug 2025 Date.. Alliotts LLP is èligible to act as an auditor in temis of section 1212 of the Companies Act 2006

19 The Chlcken Shed Theatre Trust consolidatpd Statement of Finan¢ial Activiti expendlture account> {Incorporallng consolldated Income and For the ear ended 31st March 2025 Unrestricted Restrthd 2025 Unrestricted Restricted 2024 Total Note Income fr(ffi: D¢)naliom$ ar￿ lègac￿8 428,000 14.899 442.899 255.001 35,179 2gO.180 Charltable •cd¥ltles: Grants Prodwtion$ Subscriptior EducatiL 112,058 487,452 9.324 1,690.892 647,030 759,088 487,452 229.324 1.690.892 75,168 540,370 246,564 1.339,422 771,765 846,933 $40.37 246,564 1.339,422 wa￿"eS arKI other incKJme Merch8ndisirb3 21.172 163 21,172 163 50,297 942 Othattradlng activiiles.. Fundraisiw eveits and acb'wty'es COnvner￿ol trading SSO,889 277,849 590,889 277,849 253.222 221.11e 253,222 221.116 Inv•stm•nts 33,782 33,782 21.098 21,098 Otheroperatlng In￿ne.. Govemment Grants Total Income 3,871,$81 661.92> 4,533,510 3,003,200 8(￿,944 3,810,144 Eygendlure on.. R￿Ing funds: Funthaising, marketln aNI prfynotlonal Commercial trnding Charitable xtivibes Other 790,030 230,506 1.913,803 86,507 11,702 801,732 230,5C 3.134,648 86.507 638,881 214,476 1,986,CA)2 86,401 11,658 650,539 214,476 2,700.713 86,402 1.221.042 714,711 Total Re¥ovrc 10 3.020,848 1.232.744 4,253,3SO 2,925.760 726,370 3,652.130 InGomellexpenditurel 850,935 {510.8151 280.120 ,440 80.574 158,014 Fund I)￿n￿ brought fonhvdrd at 1°Awl 2024 1.629,143 2,698,759 4.327.902 1.551,703 2,018,1B5 4,169,B8B Fund t*lance carrie(I forward at 3111 Ma￿h 2025 £ 2,480.078 £ 2.127.944 £ 4.608.022 £ 1.629,143 £ 2,6S8,759 £ 4,327,902 All sources of incune are from continuing opgralions. The financial PerforMar￿ of the trust on ts own can be found on note 4.

20 The Chlcken Shed Thèatre Trust Consolidated Balance Sheet As at 31 March 2025 Group 2025 Group 2024 Trust 2025 Trust 2024 Note Flxed assets Tangible assets Investrnent 12 13 2,228.550 2.171,816 2,217,179 2.161,273 2,228,550 2,171,816 2,217,180 2,161,274 Current Assets Stocks- goods for resal8 Debtors Bank and cash balances 13.832 741,710 1,955,093 2,710,635 10,671 927,549 1,800,458 2,738,768 14 830,374 1,896,663 2,727,037 924,958 1,759,026 2.683,984 Croditors. amounts falling due within ono yèar 15 1331.163) (582,6821 1389,2881 {523,1C61 Net Current assets 2.379.472 2.156,086 2,337,749 2.160.878 Total Assets less Current LlabIli￿o$ 4.608.022 4.327,902 4,554,930 4.322,152 Creditors, amounts falling due after more than one year Net Assets £ 4.608,022 £ 4,327,902 £ 4,554,930 £4.322,152 Funds Restricted Unrestricted 16 16 2.127,944 2,480,078 2,689,759 1,829,143 2.127.944 2.426,986 2.698,759 1,623,393 £ 4,608,022 £ 4,327,902 £ 4,554,930 £4,322,152 The trustees have prepared group accounts 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 spec4al provisions of Part 15 of the Companies Act relating to small companies and conslrtLrte the annual accounts required by the Companies Act 2006 and are for circulation to members of the company. These financial ststemenls were approved by the Board of Diredors and aLrthorised for issue on 22 Aug 2025 and are signed on their behalf by.. 0￿￿5 rr M8rtin G8fs?n (A￿9 22. 2025, 12."4Rpml Lotsise Perry IAu9 22, 2025, 2..1)4pml MARTIN GAFSEN Director LOUISE PERRY as OFS Accountable Officer Company Registration number.. 02705172

21 The Chicken Shed Theatrè Trust Consolidated Cash Flow Ststement For the year ended 31st March 2025 Group 2025 Group 2024 Trust 2025 Trust 2024 Note Net Cash Infiowl(Ouffiow) From Operating Activities 350.850 421.170 331,165 444.901 Returns on Investment and Servlclng ol Flnance Interest R￿1Ved 33,782 21,098 33,782 21.098 Capital Expenditure Purchase of tangiblè fixed a$$els (230,088} (106,772} 1227,309) (101,408) Investments {DocreasgVlncMase in cash £ 154,544 £ 335,496 £ 137,637 £ 364,591 Reconclllatlon ol Net Outyolng Resources to Net Cash (Oufflow)nnfiow from Operatlng Actlvltles Group 2025 Group 2024 Trust 2025 Trust 2024 Net Incomin￿{out9?In9} Resources Interest Recewed Depreciation Donated Assets {In¢rèase)IDecrease in stock De￿eaSel{lncrea$e) in debtors {Deuease)Ilncrease in creditors 280,120 {33.7821 183.352 {10,000} (3,1611 (5,582) 185.839 (127,064) 251,518 235,788 158,013 232,777 192,102 {21.098) {33.7821 121.0981 181.113 181.403 179.814 {10.IJOOI 94.584 {126.488} 133.818 220.571 Net cash Inflowl{Outhow> from Operating aclivities £ 350,850 £ 421,170 £ 331,165 £ 444,901 Analysi$ of Net Cash Grou Trust Cash at bank and in hand- at 1st April 2024 £ 1,8￿,548 £ 1,759,028 {D￿rease)11ncrea5e in cash during the year £ 154,544 £137.637 Cash at bank and in hand- at 31st March 2025 £ 1,955,092 £1,896,863

22 Thè Chieken Shed Theatre Trust Notes to the Financial Statements For the year ended 31st March 2025 Background The Chicken Shed Theatre Trust (also feferred to as Chickenshedl 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 inrxjrporated in England and Wales under registration number 02705172 and its registered office is Chicken Shed Theatre, 290 Chase Side, Southgate. London N14 4PE. Prfnclpal Accountlng Policies (al Basis of preparation The financial statements are prepared in accordance with ArLounting and Reporting by Charities.. Statement ot Recommended Practice applicable to charrties preparing their accounts in accordance wrth the Financial Reporting Standard applicable in the UK and Républic of Ireland IFRS 102) {effective 1st January 20151. {Charilies SORP FRS 1¢f2) and. thé Companies Act 2006. The financial statements are prepared in sterling, which is the fLtnctional ￿rrencY of the company. Monètary amounts in these financial statements are rounded to the nearest £. The finanaal statements have been prepared under the historical cost convention. The prinripal activities are set out below. The Chithen Shed Theatre Trust meets the definition of a public benefrt entity under FRS 102. Assets and liabilities are initially recognised at historical cost or estimated fair value in respect of gifted assets. (bl Going concern The ability of the Group and Company to undertake its activities is largely dependent uwn the receipt of donations, gifts and grants, and revenue from fundraising events 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 tske to maintaining stsbility needs to embra￿ the uncertainty of the time and the changing priorrties of our stakeholders Iboth the communty and funders). Fortunately cash levels rem8ined buoyarrt during Ihe year and the latest cash flow projections considered by the trustees indicate the group has sufficient resources available to meet its liabilities as they fall due ts at least 12 months from the dale of signing the financial statement and hence they continue lo prepare the accounts on a going concern basis.

23 The Chleken Shed Theatre Trust N•)tes to the Flnanclal Statements For the year ended 31st March 2025 (contlnued) 2. Prfnclpal A¢¢ountlng Polities {Contlnued) {c) Tangible ffixed assets Fixed assets are stated at cost or at estimated value in the case of assets donated. Depreciation is calculated with the intention to write off the cost orvaluation of fixed assets on a straight line basis over their expected useful lives at the following rates per annum: Leasehold propety Theatre ￿UIpMent Fixtures. fittings and other equipment 2 per cent 10-20percent 10-20peicent (d) Income Subscriptions, grants, donations. leg￿leS and gifts are recognised in the wiod in vhich the charity is enbtled to the furKls, any performance conditions attached to an award have been me( it is probable that income wll be received and the amount can be measured reliably. Multi-year grants that span over or more financial years will be reviewed on a case-byacase basis to determine thether the stheduling of performance elements wihin the grant, dictates the ￿er￿ntage of fijnding that should be recognised within the financial year. Income is deferred if re￿Ived in advance of entillement. Enlitlemenl to income is deemed to be the date when Ihe service is provided or an event tskes place. Education income. including tuition fees, grants and student support, is recognised in line with both the academ￿ arKI financial year of reporting duè to perfomiance condiknons related to it. AJI income is stated net of VAT. Donated services and goods are recognised as income en the economic benefft can be measured reliabw. General volunteer time is nol recognised as income. (e) Ajlocation of expendilure ExperKlitiJre on raising funds indudes all costs incurred in respect of activibes to raise voluntary income. Expenditure on Charilable aGtivitres includes all costs incjjrred to enablethe charity to meet its chaTrtable objectives. other costs represent those costs incurred rdating to stratsw, compliance. constituti￿81 and regulatory matters. General overheads, which includes management and administration costs are allocated in proportion to salary cost and direct costs. {f) Restrictedjunrestrided Funds Income recorded within restricied funds represents fvnds that can only be utilised for a project specified by the donorlgrantor. Income received for a designated purpose that is part of the integrated Servi￿ provided by th8 Charity is considered to be an unrestricted fund. Costs allocated against restricted funds include direct costs and an allocation of overheads.

24 The Chlcken Shed Theatre Trust Notes to the Finaneial Statements For the year endèd 31st Mareh 2025 Icontinu8d) 2. Principal Accounting Policies (Continued} Unrestricted funds represent funds received which are expendable at the discretion of the trustees in furtherance of the charity's objectives. {g) Pension costs Contributions lo a defined contribution scheme are charged as incurred. {h) Operating leases The costs of operating leases are charg￿1 to the profit and loss account as Ir￿Urred. Financial instruments The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instrLJments. Basic financial instrLJments are initially recognised at transath'on value and subsequentty measured at their settlement value. o'i Group financial statements The financial slatements consolidate the results of the charity and rts 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 Trust has taken advantage of the exemption afforded by section 408 of the Companies Act 20C6. Critical aeeountlng estlmates and areas of Judgoment Estimates and judgemerts 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. Critical accounting estimates 8nd assumprions The Charity make5 estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related 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 d15cussed below. Income is accrued and deferred based upon estimates of futu￿ income entitlement and the timing of when activities will take place. A key part of this accrued estimate relates to the funding the Trust receives relating to the support of its BTEC students, which 15 often not finalised and re￿iVed until the second or third quarter of the following financial year. Estimates for this support are based on anatysis of historic student numbers, along vath associated level of support needs, (based on student Education Health Care Plan EHCP assessments from Local Education Authorities, also a5ses5ments and advi from previous education organisationsl, in4ine with prior years finalised claim5. Provision against these estimates can indude the accrual Gf an additional bad debt provision to further reflect a measured approach. Fixed assets are depreciated over their expected lives.

25 The Chlckon Shed Theatre Trust Nots8 to the Financial Ststsments For the yoar ended 31st March 20251continued) 3. Grant Anatysls Grants received during the year indude the following: 2025 2024 For Children's and Youth Theatre: BBC Chihjren in Need The Bemard Gold Foundatson Birkdale Trusl for Hearing Impaired Boris Karloff Charitable Foundation The Childhood Trust Enfield Local Fund Forrester Family Trust The Inllexton Foundation John Lyon's Charity The Mad(intosh Foundation The Rosemarie Nathanson Charitable Trust The Southgale Cultural Fund Souler Chariiabk Trusl Young Bamet Foundation The Thistl• Trusl 86.520 1.000 2.520 1.000 10.535 10,500 5.173 13,338 100.000 38.000 2.000 100.000 5,000 5,000 1,000 486 15,000 Young Creators 8¢heme: E8M Charitable Trust 10,000 15.000 For Educatlon: The Greater London Authority- Young Londoners Fund John Horniman's Childrens Trust Ludlow Trust Office for Students The Redhill Trust Enr￿k1 New Dèal 2.000 5,000 364.767 347,210 2.500 30,000 For buildingi facilities & èquipmènL' HSBC Foundatson The Story of Chrislmas 15.000 45,000 For Outreach projgcts: The D'oyly Carte Charitsble Trust London Community Response Fund London Freemasons Charity Mazars Charitable Trust The Charity of Sir Richard Vwhittington The Thomson Famity Charitable Trusl 5,376 4,000 7,850 15,000 13.000 50.000 73,020 For new Motor Vehlcle: The Foyle Foundation The Gosling Foundation 10.000 5,000 General: The Andor Charitable TTUSt The Basil Samuel Charitable Trust The Bernard Gold Foundation Chapman Charitable Trust Christos Lazari Foundalion The Greenoaks Charitable Trust 5,000 25.000 20.000 1.000 3.000 20,000 3.000 3.IKIO 3,535

26 The Chicken Shed Theatre Trust Noto8 to the Flnanclal Statements For the year ended 31$t March 2025 (continued) Granl Anatysls {contlnued) General (continued): International Music and Art Foundation lfjln Family Trust London Borough of Enfield London Youth The Maria Bjornson Memorial Fund MK Rose Charitable Trust The Presidents Club The Sheldonia Charitable Trust Southampton Row The South Squere Trust The Tasso Foundation The Vandervell Foundation The Worshipful Company of Builders. Merchants Anonymous 18,000 500 6,000 5,000 5,000 3,168 13,523 3,500 10,000 1,000 5,000 3,000 3,IX)O 2.000 10,000 10,QOD Total Grants £ 759.088 £ 846.993 All grant5 have been recorded within unrestricted funds in accordance wth note 2{fj of prinupal a¢(￿ntIng poliaes, with the exception of grants received for projects that are not part of the integrated Servi￿ provided by the Charty. totalling £647.030 (2024.. £771,765). which have been rewrded within restricted fijnds. 3a. Total Grant and Fee income Grant and Fee income achieved by the Trust during the year breaks down as follows.. 2025 2024 Giant income from the Office for Students Gianl income from other bodies 364,767 394,321 347,210 499,723 Totsl Grant Income £ 759,088 £ 846,933 Fee income for laught awards {exd of VAT) Feè income for ￿searCh awards lexcl of VATI Fee income from non-qualifying courses (excl of VAT) 520,507 433,500 443.921 426.088 Totsl Fee income £ 964.428 £ 859.588 Total Grant and Feè income £ 1,723,516 £ 1,706,521

27 The Chlcken Shed Theatre Trust Notes to tho Flnanclal Statements For the year ended 31st March 2025 (conllnued) Flnanclal Perfomiance of the charfty The consolidated statement of financial acti￿tIeS includes the results of the charty's owned subsidiary, Chickenshed Trading Ltd. which 0￿rateS the trading ann of the trust and the ifvhciuse catering facilities. The summary financial Performan￿ ofthe charitable company alone is: 2024 Income 4,255,661 3,629.757 Total Incomo 4,255,661 3,629,751 Expendilure on". Raising Funds Charitable Adivities other 801,732 3,134,645 86.507 650.539 2.700.713 86.402 Totsl Resour￿$ Expended 4.022,884 3.437,654 Net Income 232,771 192,103 Totsl funds brought foNiard 4,322,153 4.130,050 Total fund5 carried forwdrd 4554.930 4,322.153 Represented by.. Restricted funds Unrestr￿ed fvnds 2,127,944 2,426,986 2,698,759 1,623,394 4,322.153 4554,930

28 The Chicken Shed Theatrè Trust Notes to the Financial Statements For the year ended 31st Ma￿h 2025 (continued ExpendftU￿ on ralslng funds 2025 2024 Wages Promotion and public relations 277.795 242.991 Other expenses Event Costs - Promotional costs Depreciation (Restricted Fund> 180,848 76.717 11,702 49,413 63,415 11,645 269.267 124.473 Alocation of support costs 254.670 283.074 801,732 650,538 Intome earned from other activitles The wholty owned trading subsidiary, Chickenshed Trading Ltd, was incorporated in th& UK {company number 121734551 in 2019 and intends to donate all of its profits earn8d to the charity under the gift aid scheme. Since becoming active Chickenshed Trading Ltd has operated the i housé caterir)g facilities and all commeraal trading operations carried on at th8 Chicken Shed Theatre Trust, as well as some Ma1￿ events held at external locations. The summary of the financial ￿rforManCe of the subsidiary alone is.. 2025 2024 Turnover Total Income 277,849 277,849 221,116 221.116 Cost of sales and administration costs 230,506 214,476 Net Iloss)Iprofit 47,343 6,640 Amount gift aided to the trust Retained in subsidiary 40,729 34,089 47,343 The assets and1iabilities of the subsidiary wer8.. Current assets Current liabilities Total nel assets 191,668 138,577 53,092 91,115 85,366 5.749 Share capital and reseNes 53,092 £ 5,749

29 The Chlcken Shed Theatre Trust Notss to Ihe Flnandal Statements For the year erHled 31st Ma￿h 2025 Icgntinued) 7. Expendlture on Charftable Activities 2025 2024 Wages National Development and Training Programme - ProdLKtion and Artisti Direction 514,356 - Fronl of House and Box offi￿ 153,709 - Educati 926,922 291.921 293,326 4CQ,781 137,239 805,7 1,886,908 1.637,142 Other direct expenses - PrOd￿tIon and Workshops - Education Merchandise - Depreciation IRestri¢Xed Fund) 132.395 282,613 182 79,483 1[￿.277 160.922 57 78.455 ,673 345,711 Allrxation of support costs 753.C64 717,680 £ 3,134,645 £ 2,7CIJ,713 The costs of employing stsff are allc(ated be￿n the headings set out above on the basis of estimated time allocation but also recognise that mary em ￿0yeeS are multifttnctional. Costs allocated to the restricted fvnd include depreciation of £79.48312024.' £78,455), and wages & direct expenses of£1,153,261 (2024: £647,915). other costs 2025 2024 Wages Audit Al(￿atIon of support costs 41,818 28,000 16,689 40,600 28,000 17,802 86,507 £ 88,402

30 Thè Chicken Shed Theatre Trust Notes to the Financial Statements For the year ended 31st March 20251continuedl Support eosts 2025 2024 Wages Depreciation Rent and rates Light and heat Cleaning Maintenan Insurance Legal fees Consultancy Fees Telephone Postage Printing, ststionery and Computer costs Travel and Motor Miscellaneous Loan interest Irrecoverable VAT Bad Debt Expense Training and recruitment Currency Variance 360.317 90.218 20,505 99,041 53,529 87,850 75,014 402.584 89.714 20.C¥X) 85,134 48,047 108,526 65.500 2,780 8,716 1,053 41,899 5,312 55,270 2,550 11,179 522 27,711 50,975 1233) 90,815 122,180 947 33 7,101 1,618 1.024,424 £ 1.018.737 Support costs allocated to the restricted fund are in respect of Kensington & Chelsea and amount to £nil12024.' £45). Allocations are based upon the proporticffl of direct expenses weighting given to direct payroll charge to: 2025 2024 Charitable expetKliture Raising furKIs Other costs 753,064 254,670 16,689 717,88) 283,075 17,802 £ 1.024,423 £ 1,018,737 10. Net incomel(expenditure) (al Net incomellex￿nditUreI is ststed after charging.. 2025 2024 Depreciation restricted fund unrestricted fund 91,185 90,219 28.000 20.000 90,100 91,013 25,410 20,IJ)O Audit fees 0￿ratIng leases- land and buildings

31 The Chlcken Shed Theatre Trust Notes to tho Financial Statements Forthe year ended 31sl March 2025 {continued) 11. Staff Costs Staff costs during the year were as follows.. Group 2025 Group 2024 Trust 2025 Trust 2024 Wages and salaries Social securty costs Other pension costs Contract staff 2,356,335 211,041 60,603 15,532 2,135,736 183,316 52.758 22,240 2,283,149 208.163 59,994 15,532 2,C64,992 181.252 54,834 22.240 £ 2.643,511 £ 2.394,050 £ 2.566.837 £ 2.323.318 The average monthly number of persons, full and part time. empbyed by th& charity during the year was.. Group 2025 Group 2024 Trust 2025 Trust 2024 Administralion and finance Artistic and education Fund raising and publicity Production General management.. Front of house Box office Building maintenan Catering 10 10 65 10 115 12 107 105 The staff numbers above include 47 full time staff (2024.. 43) and 57 part time {2024: 64). but exdude a pool of over 3CM) regular volunteers. None of the direclcrfs re￿iVed any remuneration in respect of servirRs provided. neither were they reimbursed expenses incurred on behalf of the charity. Remuneration to key management personnel. are considered to be the executive ¢)fficers amounted to £111.514 (2024.. £111,516). No emF4oyee {2024- nil) eamed more than £80,C(rtJ in the band £60,000- £70,000. Managing Directols Remuneration was as foll¢)ws.' 202 2024 Salary Pension Costs £ 55.757 £ 1,673 £ 54.133 £1.624

32 Thè Chickèn Shed Thèatré Trust Notes to th8 Financlal Statements For the year ended 318t Mar¢h 2025 (Continued> The Managing Director's basic salary is 1.84 times the median pay of staff, where the median pay is calculated on a fulktime equivalent basis ft)rthe salaries paid by the T￿￿t to its slaff. The justthcation for the remuneration package for the ManagirvJ Diieclor is set by the Board of Trustees and is benchmarked across similar sized otganisalions within the chartiy sector. In fijture the Trust will be passing this responsibilty to a new Remunerati(x) Committee within the Board thatwill ￿ tasked with the development of a robust remuneration management framework for the Trust. V￿th the aim of ensuring that the Trust is well staffed with suitable qualified and experienced staff wrthin an agreed budgeL Performance of the Manging Director role will be carried out through an annual appraisal by a member ofthe Trustee Board. Pension costs: The charty contributes to a defined contribution scheme. The charge to the profit and loss account was £62,872 {2024.' £52.758) and at the yearnd there were outstanding contributions of £12.30512024'. £11.317}. 12. Tangiblè Fixed Assets-forthe Group Fixtures, Fittings and other ment Leasehold Theatre Total Cost or valuation At 1st April 2024 Additi'ons Disposals 3.458.160 956,090 29.872 606 1.072,676 210,216 44.157 5,487,745 240,0&8 44.763 At 31& March 2025 £ 3,458,160 £ 986.175 £ 1.238,735 £ 5,683,070 Deprecialion At 1st April 2024 Charge for the year Disposals 1.734.977 69,165 812,847 32,642 768.106 81.545 44,157 3,315,929 183,352 44,763 At 318t March 2025 £ 1,804,142 £ 844,883 £ 805,494 £ 3.454,519 Net book valu8 At 31 March 2025 £ 1,654,018 £ 141.292 £ 433.240 £ 2.228.550 At 31st March 2024 £ 1,723,183 £ 144.062 £ )4,570 £ 2.171.816

33 The Chlcken Shed Theatre Trust Notos to the Financial Statements For tho year ended 31st March 2025 lconlinued) 12. Tanglble Flxed Assets (contlnued) For the Charitable company Fixtures, Fittings and other ui ment Leasehold Pr Theatre Total Cost or valuation At 1st April 2024 Additions Disposals 3,458,160 956,909 29,872 606 1,058,567 207,437 44,157 5,473,636 237,309 44,763 At 31st March 2025 3.458.160 £ 986,175 £ 1.221.847 £ 5.666.182 Depreciation At 1st April 2024 Charge for the year Disposals 1.734.977 69.165 812.847 32,642 764.539 79.598 44.157 3.312.363 181.403 44.763 At 31st March 2025 1.804.142 £ 844,883 £ 799,978 £ 3,449,IJ03 Net book value At 31st March 2025 1,654,018 £ 141,292 £ 421,869 £ 2.217.179 At 31st March 2024 £ 1.723,183 £ 144,C62 £ 294,028 £ 2,161,273 The net carrying value of tangib￿ frKed assets for the group arKI tharity company includes the following in respect of assets held under finance leases or hire purchase contract5.' £nil12024.' £7.657). Depreciation charge for the year in respect of leased items was £7,657 {2024: £7.657). 13. Investments In 2019 Chicken Shed Theatre Trust invested in 1 ordinary share of£1 in its wholty owned trading subsidiary Chid(enshed Trading Limrted (company number 12173455), whith 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 fulty paid. The activities and results of the subsidiary are summarised in note 6.

34 The Chlckan Shed Theatre Trust Notes to the Flnanclal Statements For Ihe year ended 31sl March 2025 Icontlnued) 14. Debtors Group 2025 Group 2024 Trust 2025 Trust 2024 Trade debtors Accrued income Prepayments Amount due from subsidiary Other debtors 37,888 582,178 107,458 223,508 569,799 112,827 35,148 582,176 107,458 220,915 569,799 112,629 14,210 21,615 105,592 21,615 £741,710 £ 927,549 £ 830,374 £924,958 15. Crèditors, amounts falling due withln one y6ar Group 2025 Group 2024 Trust 2025 Twst 2024 VAT, payroll taxes and social security payable Deferréd income Accruals Arnount due to subsidiary Other creditors 47.005 31.548 67.370 45.629 31.548 67,371 84.166 160,574 (12.984} 264,495 83,716 25.790 162.09) 264,495 83.716 185.240 176,407 £331,163 £ 582,682 £ 389,288 £ 523,1C6 Income has been deferred where it is considered that conditions relating to the recognition of income have not been mel or where income specifically relates to an activity that will take place subsequent to the year end. Deferred income comprises education tuition & support fees. ndraising event income, and extemal training income. movements ofwhich during the year are shown below. Group 2025 Trust 2025 Balance as at 1￿ April 2024 264.495 264.495 Amount released to incoming resources-. Education income Fundraising event income External training income (7,9521 (224,0001 {9951 17.952) 1224,0001 19951 knount deferred in year 31,548 31,548 Balance as at 31 at March 2025 £ 31,548 £ 31,548

35 The Chlcken Shed Thoatro Tn￿t Noles to the Financial Statements For the year ended 31st March 20251continued} 16. Anatysls of Net Assets Between Funds Restricted Unre$tri¢Xéd Funds 2024: Group Total F￿ed 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 Unrestrided Fur)ds Funds 2024: Charitable Company Total Fixed assets Net current assets 1.846.130 852.629 315.144 1.308.249 2.161.274 2,180,878 £ 2,698,759 £ 1,623,393 £ 4,322,152 Restricted Fund Unrestricted Funds 2025: Group Total Fixed assets Net current assets 1.7,(k89 331,875 432,481 2.047,597 2,228.550 2.379.472 £ 2.127,￿￿ £ 2.480,078 £ 4,608.022 Restricted Funds Unrestricted Funds 2025: Charilable company Total Fixed assets Net current assels 1.7,069 331.875 421,111 2,CNJ5,875 2,217,180 2,337.750 £ 2,127.944 £ 2.426.986 £ 4.554.930

The Chieken Shed Theatre Trust Notes to the Flnanclal Statements For the year ended 31st Mar¢h 2025 (continued) Gmup and charitable company Restricted funds {continued} Brought In¢oming Outgoing Forward Re$our¢gs Resourcgs Carrigd Forward National lottery Building & Facilities Artistic programme Children & Youth theatre Programme Education programme Education programme- Equipment Sbjdent Hardship Programme Outreach programme National Lottery Heritage Project AVIIT & theatre equipment Studio theatre development Young Creators progr8mme Kitchen Refurfoishm•nl Rayne Theatre Flooring Equipment & Repairs Ref•rral Programm• A¢oss & Participation The Wendy House Project New Minibus 1.691.031 51,129 27,984 59,646 144,698 28.098 169,1651 1.621.866 16,000) 45,129 127,9841 188,354) {509,465} 111,7101 15,0001 {125,3751 {107,432) {7031 126,9661 19,4341 127,7681 12,5801 {6,8711 123,840} 1155,0591 129,0371 29.708 364.767 1.000 16.388 5.OCIO 111.020 137.006 142,731 38.924 26,966 6,907 27,768 2,580 57,715 122.651 35.299 38.221 10,000 7.473 50,844 61,000 98,175 141.699 29,037 111,535 29,899 29,899 £2.698.759 £ 661,929 £11,232,744} £ 2,127,944 National Lottery funding is restricted to the costs of the conslnjction and fumishing of the theatre buihjing. and deprerialion of those Costs, over the period of the lease. 17. Taxallon The charitsble parent company is exempt from taxation of income and gains falling within Section 478 of the Cotporation Tax Act 2010 01 Section 256 of the Taxation of Chargeable Gain5 Act 1992 to the extent they are applied lo ils charitable obj-ects. During the year lo 31 March 2025 Ihe trading subsidiary generated a surplus, will have exceeded its prior year cumulative deficit, and intends to make a gift aid donation lo The Chid(en Shed Theatre Trust within 9 months of 31 March 2025. The combination of a donation from roserves plus brought forward lax losses in the subsidiary should ensure no liability arises from this year. 18. L•a8e and Capital Comrnibnents Totsl lease commitments in resped of operating lèase rentals which expir6'. Land and Buildin 2025 20,000 £ 80,000 £ 140,000 £ 2024 20,000 80,000 160,000 Due wthin 1 yeaT Within 2-5 years 5 years + All lease rental costs exc14Jde VAT, the cost ofwhich is mosdy irrecoverable. Dlsring the year the lease that The Chicken Shed Theatre Trust has with The Chicken Shed Propety Company was revised, along with the changes lo the head lease that The Chicken Shed Property Company has with the London Borough of Enfield.

37 The Chlcken Shed Theatre Trust Notes to the Financial Statements For the ear ended 31st Mareh 2025 (contlnued) 19. Related Party Trnn¥action¥ The Chid(en Shed Theatre Trust rents a propety from The Chicken Shed Property Company on vthich an annual rent of £20.00012024'. £20.0(KJ) is payable. There are other Iransadions behveen the tsvo companies and amounts di$bursed by The Chid(en Shed Theatre TNst on behalf of The Chicken Shed Prop•ty Company and overall at 318t March 2025 The Chicken Shed Propety Company owed The Chicken Shed Thealre TN$t £6.000 {2024'. £21.6151. 20. Substrquènt Ev•nts Dls¢losuro On 6 April 2025. the Trust's IT systems were subject lo a ¢yberso¢urity I￿ident and ransomware attack, whi¢h temporarily disrupted parts of the Critical servi￿, induding telephones and booking. We￿ unaffected. and operations continued throughouL supported by the rapid engagement of specialist forensic and legal advisots. A small volume of hsstorical, limited, and potentially p8rsonal data was a￿ssed. but no pernanent data loss occurred. Wothing dosely Nwth regulators and insurors, the Trust undertook a complete system r8buikJ, accelerated planned Infrastructu￿ upgrades, and slren9lhened its cybersecurity p¢)sture. Th Infonnation Commissioner's Office was ¢ontacted. and il was confimed that no further action would be taken, recognising the Trust's prompt and ¢￿Thprehens￿e response. This incident has reinforced a culture of gftaler Cyber awareness a¢ross the organisation and brought fO￿ard key security improvements that will safeguard the Trust's work in the years ahead.