GLADSTONE
THEATRE TRUST
ANNUAL REPORT
AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31ST MAY 2024
CHARITY No. 1016452

GLADSTONE THEATRE TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31st MAY 2024
The Trustees present their annual report and financial statements of the charity for the year
ended 31st May 2024.
The financial statements have been prepared in accordan￿ with the charity's constitution, the
Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended
Practice applicable to charities preparing their accounts in accordance with the Financial
Reporting Standard applicable in the UK and Republic of Ireland (FRS102) effective 1 January
2019.
OBJECTIVES AND ACTIVITIES
The objects of the Trust are to educate the public in the dramatic, operatic, and musical arts and
to further the development of public appreciation and taste in the said arts by the provision of a
community theatre. In order to meet this objective, the Trust oversees all aspects of the
Gladstone Theatre, Port Sunlight including its upkeep, operation and financial management.
In considering the objectives and activities, the Trustees have considered Charity Commission
guidance on Public Benefit to ensure that the organisation is meeting its Public Benefit
requirements.
ACHIEVEMENTS AND PERFORMANCE
All the dressing rooms where painted to brighten them up which makes them more presentable
for companies to corne into.
Once again, we hosted a successful Christmas pantomime which broke all Box Office records.
We had all new wiring installed on the stage and on the bridge to improve the electrical
infrastructure.
Participated in the Port Sunlight Trusts heritage days, we hosted a heritage lalk wÈthin the theatre
which was a great success. We also put on a drama workshop within the theatre.
We have successfully continued to host a Pilates class which helps serve the community.
The theatre hosted the UK tour of "By Ihe Waters of Liverpool" adapted from Helen Forresterfs
million selling book which was a great success.
Purchased new moving lights to add to the fixtures which enhances the lightening to improve the
lightening design on all performances.
FINANCIAL REVIEW
Total income in the year was £305,453 (2023: £272,068) of which £Nil (2023: £nil) related to
nding for projects upon which restrictions are placed.
Total expenditure in the year was £240,332 {2023". £235,091), leaving a surplus for the year of
£65,121 (2023: surplus £36.977).
At 31 st May 2024 the charity reserves stood at £287,064 (2023: £221 ,943}.
Reserves Policy
It is the policy of the charity to maintain unrestricted funds, which are free reserves at a level to
cover redundancy provision and three months running costs should no further funding be
received.

GLADSTONE THEATRE TRUST
TRUS.TEES' REPORT FOR THE YEAR ENDED 31st MAY 2024
As at the end of the financial year the unrestricted funds, totalled £287.064 less fixed assets of
£205,865 leaving a balance of £81,199. The charity requires £6,536 for redundancy provision,
£60,083 for three months total running costs (Fotal £66,619)
The trustees plans for the balance of the unrestricted reserves is a new sound system plus the
maintenance of the theatre.
Risk management
The main risks to which the charity is exposed as identified by the Trustees have been
considered and systems have been established to mitigate those risks.
Plans for the future
The theatre will look to maintain and grow our perfomances and events throughout the coming
year.
Our future plans for the theatre will also look to include-
The installation and upgrade of a new sound system to enhance current shows and
performances. This will also allow us to future proof new events that we are unable to
currently accommodate due to the existing system being inadequate.
Continue to the installation of more hemps within our stage rig
Look to open to the public throughout the day providing activities and a café for public
use
Run school workshops throughout term times.
Re-open our cinema club to allow public to come and watch films in an atmospheric
theatre environment
Maintain and improve existing fixtures and ffttings within the th8atre to become more
welcoming and economically friendly.
STRUCTURE, GOVERNANCE AND MANAGEMENT
The Board of Trustees also forms the Executive Committee which appoints officers who are
responsible for the day-to4ay running of the theatre. Sub-cornmittees operate with specific
responsibilitie5 a5 undei:
Fund Raising
Finance
Technical
Project Team {theatre improvements, grant applications, etc.}
The Management Committee is elected annually at the Annual General Meeting of the Trust, a
member representing The Port Sunlight Players, Bebington Dramatic Society and Hoylake and
West Kirby Society plus one representative of the Theatre Ambassadors each nominate two of
their members.
The Management Committee has the following powers:
(a) to promote plays. drama. comedies. operas and other dramatic, operatic and musical
works of educational value;
(b) to purchase, acquire and obtain interest in the copyright of or right to perform or show
any such dramatic or operatic works.

GLADSTONE THEATRE TRUST
TRUSTEES, REPORT FOR THE YEAR ENDED 31st MAY 2024
(c) to provide and maintain premises for such presentations.
(d) to purchase or acquire plant, machinery. furniture, fixtures, scenery and all other
necessary effects.
(e) to raise funds and to invite and receive contributions from any person or persons
whatsoever by way of subscription, donation and othenNise; providing that the Trust
shall not undertake any commercial trading activities in raising fvnds"
(f) to provide facilities for educational courses in the various aspects of theatre craft; and
(g) to do all such things as shall further the objects of the Trust.
Recruitment and appointment of Trustp.es
Trustees are usually nominated and then either co-opted on to the Committee or voted on at
the AGM and can be asked to specialise in their various roles on the Trust Committee.
REFERENCE AND ADMINISTRATIVE DETAILS
Name
Gladstone Theatre Trust
Charity Number
1016452
Registered Office
Gladstone Hall
Greendale Road,
Wirral CH62 4XB
Jamie Brown
Jane Davenport
Kevin Fishwick
Valerie Houldin
Joan Mason
David Oliver
Janet Roxby (Chair)
Carol Shickell (Treasurer)
Dawn Smith
Keith Taylor
Mrs Ying Huang {ACCA)
CIO (LCVS)
151 Dale Street,
Liverpool,
L2 2AH
Trustees
(Resigned 1st May 2024)
(Appointed 21st November 2023)
Independent
Examine
Bankers
National Westminster Bank plc,
93 Greendale Road,
Port Sunlight.
Sign
d on behalf of the Trustees
Janet Roxby, Chair
Date:
.11.l￿2￿p............

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE
GLADSTONE THEATRE TRUST
I report on the accounts of the charity for the year ended 31 st May
2024 which are set out on pages 8 to 17.
Res
eGtive
res
onsibilities of
trustees and examiner
The charity's trustees are responsible for the preparation of the
accounts. The charity's trustees consider that an audit is not
required for this year under section 144 of the Charities Act 2011
(the Charities Act) and that an independent examination is needed.
It is my responsibility to:
examine the accounts under section 145 of the Charities Act,
to follow the prO￿dureS laid down in the general Directions
given by the Charity Commission (under section 145(5)(b) of the
Charities Act, and
to state whether particular matters have come to my attention.
Basis of inde
endent
examinerfs staten7ent
My examination was carried out in accordance with general
directions given by the Charity Commission. An examination
includes a review of the accounting records kept by the charity and
a comparison of the accounts presented with those records. It also
includes consideration of any unusual items or disclosures in the
accounts and seeking explanations from the trustees conceming
any such matters. The Pro￿dureS undertaken do not provide all
the evidence that would be required in an audit. and consequently
no opinion is given as to whether the accounts present a 'true and
fairf view and the report is limited to those matters set out in the
statement below.
Inde
endent examineffs
statement
In connection with my examination, no matter has come to my
attention:
(1) which gives me reasonable cause to believe that in any material
respect the requirements:
to keep accounting records in accordance with section 130
of the Charities ACC.
to prepare accounts which accord with the accounting
records and comply with the accounting requlrements of
the Charities Act
have not been met. or
(2) to which, in my opinion, attention should be drawn in order to
enable a proper understanding of the accounts to be reached.
Name=
Mrs Ying Huang
Relevant professional qualification or body: ACCA
Address: c/0 LCVS 151 Dale Street, L2 2AH
Dated:

GLADSTONE THEATRE TRUST
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31st MAY 2024
Unrestricted Restricted
Funds
Funds
Total
Funds
ToLIl
Funds
Notes
2024
2024
2024
2023
Income and endowments
from:
Donations and legacies
Charitable activities
Other trading activities
Investments
1,497
303,020
1.497
2,428
303,020 268,444
764
432
2b
2d
936
936
Total income
305,453
305,453 272,068
Expendlture on..
Charitable activities
240,332
240,332 235,091
Total expenditure
240,332
240,332 235.091
Net income, Net movement in
funds
65.121
65,121 36,977
Total funds brought fO￿ard
13-14
221,943
221,943 184,966
Total funds carried forward
12-14
287,064
287,064 221,943
The notes on pages 8 to 17 form part of these accounts. The net movement in resources for
the year was derived from the continuing activities of the trust.

GLADSTONE THEATRE TRUST
BALANCE SHEET AS AT 31°, MAY 2024
Notes
31st May 2024
31st May 2023
Flxed assets
Tangible assets
Right of use asset
119,119
86.746
91,055
108,957
205,865
200,012
Current assets
Stock
Debtors
Cash at bank and in hand
2.469
14,849
272.091
2.500
206,319
289.409
208,819
Current Liabilities
Creditors: amounts falling due within
one year
(119,706)
(77,888)
Net current assets
169,703
130,931
Total assets less current
liabilities
375,568
330,943
Creditors" amounts falling due
after more than one year
11
(88,504)
(109,000)
Net assets
287,064
221,943
Funds:
Restricted funds
Unrestricted funds
12, 14
12-13
287,064
221,943
287,064
221,943
Appr
ved by Trustees on .
.Izlii.IzoL4......................-...-
Janet Roxby. Chair
Carol Shickell. Honorary Treasurer

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 3qSt MAY 2024
1. Accounting Policles
Basis of accounting
The financial statements have been prepared in accordance with the Statement of
Recommended Practice: Accounting and Reporting by Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland
(FRS102) (SORP 2019) effective 1st January 2019 and Charities Act 2011.
The accounts have been prepared under Ihe histortcal cost convention with items recognised
at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts are prepared in sterting, which is the functional currency of the chartty. Monetary
amounts in these financial statements are rounded to the nearest £.
Going concern
At the time of approving the accounts, the Trustees have a reasonable expectation that the
charity has adequate reserves to continue in operational existence for the foreseeable future.
Thus. the Trustees continue to adopt the going concern basis of accounting in preparing the
accounts.
Fund accounting
Unrestricted funds are the charity's free reserves available for the Trustees to apply in
accordance with the charity's objectives.
Restricted funds are subject to specific restrictive conditions imposed by the donor. All restricted
funds are accounted for as restricted income and expenditure for the purposes is charged to the
fund.
Income recognition
All income is recognised once the charFty has entltlement to the income, there is sufficient
certainty of receipt and so it is probable that the income will be received, and the amount of
income receivable can be measured reliably.
Donations and legacies comprise of donations and general grants which are recognised in the
accounts when received, wrf(h the exception of known legacies which are accounted for when
their receipt is certain.
Income from charitable activities is recognised on an accrual's basis except for grants
receivable, which are recognised on the date on which their unconditional payment is confirmed
by the donor.
Income from investment relates to bank interest received and is recognised when the amount
is certain. Income received on funds for a spectfic pU￿oSe is allocated to that fund were
material.
Other Income relates to rental income and gains on disposal of tangible asset and is recognised
when the amount is certain.
Fixed Assets
Capital expenditure of £500 and over is stated in the balance sheet at cost or revaluation less
accumulated depreciation. Depreciation is provided to write off the cost of each asset over its
expected usefvl life as below:
Theatre Improvements, Equipment & Furnishings 100/0 reducing balance basis
Electrical equipment
3 years straight line basis

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315t MAY 2024
Fixture and Fittings
Right of Use Assets
Stock
Stock held comprises bar refreshments and is valued at the lower of cost or net realisable
value.
3 years straight line basis
Over the temi of the lease
Expenditure recognition
Liability is recognised as soon as there is a legal or constructive obligation committing the
charitable company to that expenditure, tt is probable that settlement will be required and the
amount of the obligation can be measured reliably.
All expenditure is accounted for on an accrual basis. All expenses, including support costs and
governance costs, are allocated or apporttoned to the applicable expenditure headings in the
statement of Financial Activities. Support and governan￿ costs are applied to unrestricted
funds unless specifically included in the restrictions, as specified by the donor.
Expenditure on charitable activities relates to the operation of the charity comprising of direct
charitable expenditure to meet the objectives of the charitable company. Support and
governance costs relate to the management and operation of the organisation and also
compliance with constitutional and statutory requirements in producing Ihe annual report.
These are dealt with in the Statement of Financial Activities when payment has been approved
by the charitable company.
Cash and cash equivalents
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-
term liquid investments with original maturities of th￿e months or less, and bank overdrafts.
Financial instruments
The charity has elected to apply the provisions of Section 11 'Basic Financial Instruments, and
Section 12 '0ther Financial Instruments Issues, of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes
party to the contractual provisions of the instrument.
Financial assets and liabllities are offset, with the net amounts presente(J In the financial
statements, when there is a legally enfor￿able right to set off the recognised amounts and
there is an intention to settle on a net basis or to realise the asset and settle the liability
simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balan￿s, are initially
measured at transaction price including transaction costs and are SLJbsequently carried at
amortised cost using the effective interest method unless the arrangement constitutes a
financing transaction, where the transaction is measured at the present value of the future
receipts discounted at a market rate of interest. Financial assets classified as receivable within
one year are not amortised.

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MAY 2024
Basic financial liabilities
Basic financial liabilities. including creditors and bank loans are initially recognised at
transaction price unless the arrangement constitutes a financing transaction, where the debt
instrument is measured at the present value of the future receipts discounted at a market rate
of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate
method.
Derecognition of financial liabilitles
Financial liabilities are derecognised when the charity's contractual obligations expire or are
discharged or cancelled.
Critical accounting estimates and judgements
In the application of the charity's accounting policies, the Trustees are required to make
judgements, estimates and assumptions about the carrying amount of assets and liabilities that
are not readily apparent from other sources. The estimates and associated assumptions are
based on historical experience and other factors that are considered to be relevant. Actual
results may differ from these estimates.
The estirnates and underlying assumptions are reviewed on an on-going basis. Revisions to
accounting estimates are recognised in the period in which the estimate is revised where the
revision affects only that period, or in the period of the revision and future periods where the
revision affects both current and future periods.
All expenditure is accounted for on an accrual basis. All expenses, including support costs and
governance costs, are allocated or apportioned to the applicable expenditure headings in the
Statement of Financial Activities. Support and govemance costs are applied to unrestricted
funds unless specrfically included in the restrictions, as specified by the donor.
Cost of charitable activities relate to the operation of the charity comprising of direct charitable
expenditure to meet the objectives of the chartty. Support and govemance costs relate to the
management and operation of the organisation and compliance with constitutional and statutory
requirements in producing the annual report. These are dealt with in the Statement of Financial
Activities when payment has been approved by the charity
Taxation
Income and gains are exempt from taxation as they are received and applied for charitable
purposes only. The charity benefits from various exemptions from taxation afforded by tax
legislation and is not liable to corporation tax on income or gains falling within those exemptions.
The charity is not able to recover Value Added Tax. Expenditure is recorded in the accounts
inclusive of VAT.
10

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MAY 2024
2. Income and endowments from
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Total
Funds
2023
a. Donations and Legacies
Donations
1,497
1,497
2,428
All donation income received in 2023 was unrestiicted
b. Charitable activities
Theatre hire and ticket sales
Bar & catering
Leverhulme Drama Festival
208,054
91,095
3,871
208,054
91,095
3,871
177,905
86,358
4,181
303,020
303.020
268.444
All charitable activities income received in 2023 was unrestricted
c) Other trading activities
Fundraising events
764
All Other trading activities income received in 2023 was unrestricted
d) Investments
Bank interest
936
936
432
All investment income received in 2023 was unrestricted.
3. a) Expenditure on: Charitable activities
Direct
Support &
Charitable Governance
Expenditure
Costs
Total
2024
Total
2023
The provision of a comn7unity
theatre
221,205
19.127 240,332
235,091

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 315t MAY 2024
Analysed as follows..
2024
2023
Direct charitable expendifure..
Staff salary costs
Pension
Theatre direct costs
Bar and catering
Sessional fees
Leverhulme Drama Festival
Advertising and marketing
Heat & light
Telephone and internet
Refreshments
Repairs & renewals
Rates and water
Cleaning & waste disposal
PRS & licenses
Security
Insurance
Postage, printing and stationery
Subscription
Clothing
Right of use interest
PayPal charges
Bank charges
Right of use depreciation
Depreciation
27,264
575
40,777
38,399
2.446
1,883
4,067
15,795
6.285
745
3,174
3,883
10,168
6,083
1,501
4,850
292
111
34,843
184
41,069
33,322
1,387
103
12.628
5,906
973
2,906
9,573
5,230
1,671
5,031
2,967
117
625
205
23,527
541
18,160
10,490
312
25,156
948
16,539
9,952
221,205
211,458
2024
2023
Support & governance..
Staff salary costs
Pension
Computer support
Sundry
Accountancy fee
18,298
19,138
28
348
22
459
4,467
19,127
23,633
240,332
235,091
All expenditure in 2023 is related to unrestricted funds.
12

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MAY 2024
b) Staff Costs
2024
2023
Salaries
Social security costs
Other pension costs
45,562
53,981
575
212
46,157
54,193
The average number of employees during the year was 2.09 (2023.. 3).
There were no employees with emoluments over £60.000 p.a. (2023.. none).
None of the trustees (or any person connected with them) received any remuneration during the
year (2023: none).
No reimbursement of out-of-pocket expenses took pla￿ during the year (2023: £nil) connected
person (see Related Parties note).
4. Tangible fixed assets
Theatre.
equipment
& Furnishings
Electrical Fixture and
Equipment
Fittings
Total
Cost
At 1 $1 June 2023
Additions
568,062
7.681
575,743
38,016
38,016
At 31st May 2024
568.062
7,681
38,016
613,759
Accumulated depreciation
At 1st June 2023
Charge for the year
478,243
8,982
6,445
807
484,688
9,952
163
At 31st May 2024
487.225
7.252
163
494,640
Net Book Value at 31st May 2024
80,837
429
37,853
119,119
Net Book Value at 31 st May 2023
89.819
1,237
91,055
There were no material commitments at the year-end.
All fixed assets are used in tho direct charitable activities of the organisation.
13

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MAY 2024
5. Right of use assets
Right of use
Asset
Cost:
At 1st June 2023
Disposal
127,117
(5,672)
Balance at 31st May 2024
121,445
Depreciation:
At 1st June 2023
Charge for the year
18.160
16.539
At 31st May 2024
34,699
Net Book Value at 31st May 2024
86,746
Net Book Value at 31st May 2023
108,957
The charity signed a lease agreement on the 4th of October 2021 for the Gladstone Hall,
Greendale Road, Bromborough, Wirral CH62 4XB for 7 years starting 24th June 2022
6. Financial instruments
2024
2023
Carrying amount of financial assets:
Debt instruments measured at cost
286,941
206,319
Carrying amount of financial liabilities:
Measured at cost
64,614
19,672
7. Stock
Stock comprises of bar refreshments to be sold
2024
2023
stock
2,469
2,500
14

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MAY 2024
8. Debtors
2024
2023
Trade debtors
Prepayments
9,849
5,000
14,849
9. Creditors.. amounts falling due within one year
2024
2023
Trade creditors
Accruals
Deferred income (See note 10)
Pension
VAT
Other creditors
49,160
113
54,410
112
683
15,228
4,602
15,070
46,213
12,003
119,706
77,888
10. Deferred Income
2024
2023
Deferred income at 1 St June 2023
Amounts received in the year
Amounts credited to statement of financial
activities
46,213
353,922
29,147
46,213
(345,725)
{29,147)
Balance at 31st May 2024
54.410
46,213
Deferred income comprises funds received in advan￿ of the provision of shows which will be
performed in a future date after the current accounting period.
11. Creditors: amounts falling due after more than one year
2024
2023
Other Creditors
88,504
109,000
Other creditors comprise lease commitments on the Gladstone Hall, Greendale Road,
Bromborough, Wirral CH62 4XB for 7 years starting 24fh June 2022 for 7 years adjusted as per
IFRS 16 with discount rate of 0.950/0
15

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MAY 2024
12.Analysis of Net Assets between Funds
Tangible
Fixed
Assets
Right of
Use
Asset
Net Creditors due
current
more than
assets
One year
Total
2024
Unrestricted Funds
General Fund
119,119
86,746
169,703
(88.504) 287,064
Restricted Funds
Total Funds
119,119
86.746
169,703
(88,504) 287,064
Tangible
Fixed
Assets
Right of
Use
Asset
Net Creditors due
current
more than
assets
One year
Total
2023
Unrestricted Funds
General Fund
91.055 108,957
130,931
(109,000) 221,943
Restricted Funds
Total Funds
91,055 108,957
130,931
(109,000) 221,943
13. Unrestrlcted funds
The following funds are designated for spectfic purposes by the Trustees:
Movement in the year
Income
Expenditure
Reserves
at start of
the year
Reserves
at year
end
2024
General Fund
221,943
305,453
(240,332)
287,064
Movement in the year
Income Expenditure
Reserves
at start of
the year
Reserves
at year
end
2023
General Fund
184,966
272.068
(235,091)
221,943
14. Restricted Funds
There were no restricted funds during or at year end 31st May 2024 (2023: £nil)
16

GLADSTONE THEATRE TRUST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MAY 2024
15. Guarantees and other financial commitments
There is a lease for the property with the Port Sunlight Village Trust. The lease commenced in
June 2022 and the lease term is seven years and it has been included within the Balance Sheet.
16.Related Parties
There were no material related party transactions during the year which require disclosure. (2023:
None)
17