REGISTERED COMPANY NUMBER: 2801491 (England and Wales) REGISTERED CHARITY NUMBER: 1019185
Report of the Trustees and
Unaudited Financial Statements
for the Year Ended 5 April 2025
for
Scarborough Theatre Development Trust
Ashby Berry Coulsons Ltd 2 Belgrave Crescent Scarborough North Yorkshire YO11 1UB
Scarborough Theatre Development Trust
Contents of the Financial Statements for the Year Ended 5 April 2025
Page Reference and Administrative Details Report of the Trustees Independent Examiner's Report Statement of Financial Activities Balance Sheet Notes to the Financial Statements Detailed Statement of Financial Activities 17
Scarborough Theatre Development Trust
Reference and Administrative Details for the Year Ended 5 April 2025
| Trustees | R S Lumby Chair | R S Lumby Chair |
|---|---|---|
| Lady H E Ayckbourn | ||
| C N Groom | ||
| S L McCarthy | ||
| P Heselton | ||
| N Taylor | ||
| Company secretary | P Heselton | |
| Registered office | The Nabs | |
| Scalby Nabs | ||
| Scalby | ||
| Scarborough | ||
| North Yorkshire | ||
| YO13 0SL | ||
| Registered company number | 2801491 | (England and Wales) |
| Registered charity number | 1019185 | |
| Independent examiner | Ashby Berry Coulsons Ltd | |
| 2 Belgrave Crescent | ||
| Scarborough | ||
| North Yorkshire | ||
| YO11 1UB | ||
| Bankers | HSBC Bank Plc | |
| 33 St.Nicholas Street | ||
| Scarborough | ||
| North Yorkshire | ||
| YO11 2HN |
Page 1
Scarborough Theatre Development Trust
Report of the Trustees for the Year Ended 5 April 2025
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 5 April 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
This report includes the directors' report required by company law.
Objectives and activities
The charity was established to manage the property known as the Stephen Joseph Theatre and connected properties and to promote, maintain, improve and advance education by supporting such of the purposes of Scarborough Theatre Trust Limited in such a manner as the trustees think fit.
These objects are achieved through
a) managing and maintaining the theatre premises and connected properties
b) distributing surplus funds by way of grants to the Scarborough Theatre Trust.
The trustees have had regard to the Charity Commission's guidance on public benefit when reviewing the Trust's aims and objectives, and in setting the grant making policy for the year. By providing grants, indirectly, they are encouraging and promoting the appreciation of the arts, by the provision of facilities for the education and recreation of the public in the fields of art, music and drama.
Achievements and performance
The three businesses who are tenants of the Scarborough Theatre Development Trust had a stable year and paid rents in full and on time.
During the year the Trust made significant contributions of nearly £250,000 towards major premises refurbishment work related to the replacement of heating and ventilation systems on the Theatre roof.
The directors continue to adopt a policy on donations designed to maintain and enhance reserves where possible.
The development Trust continued to make annual payments of £10k towards repayment of the loan from The Stephen Joseph Theatre
Financial review
The Statement of Financial Activities shows a surplus for the year on unrestricted funds of £31,329 (2024: deficit of £22,087).
As disclosed in Notes 14 and 15, a balance of £152,116 is outstanding on the loan from Scarborough Theatre Trust for the earlier Outreach Hub project, of which £142,520, is repayable after more than one year. The trustees consider that the reserves plus annual rental income receivable by the charity will be sufficient to meet the loan repayments as they fall due.
The charity's total reserves at 5 April 2025 amounted to £1,122,235 of which £838,982 related to restricted funds supporting fixed assets. Liquid unrestricted reserves (net current assets) at 5 April 2025 totalled £50,552 (2024: £265,424).
Page 2
Scarborough Theatre Development Trust
Report of the Trustees for the Year Ended 5 April 2025
Structure, governance and management
Scarborough Theatre Development Trust is a registered charity which was incorporated on 15 March 1993 as a company limited by guarantee. It is governed by its Memorandum and Articles of Association and overseen by its trustees, who are also the directors of the charity for the purposes of the Companies Act. Trustees are appointed in accordance with the Memorandum and Articles of Association and the board has a policy in place for the recruitment, induction and training of new members. Decisions are made by the trustees at their board meetings. The trustees consider the major risks to which the charity is exposed as being the normal commercial risks involved with renting property. They are satisfied that there are no special procedures required to meet these risks.
Statement of compliance with prevailing laws and regulations
The financial statements have been prepared in accordance with the accounting policies set out in the notes to the accounts and comply with the charity's governing document, 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 (FRS 102) issued in October 2019.
This report has been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.
Approved by order of the board of trustees on ............................................. and signed on its behalf by:
................................................................. R S Lumby - Trustee
Page 3
Independent Examiner's Report to the Trustees of Scarborough Theatre Development Trust
Independent examiner's report to the trustees of Scarborough Theatre Development Trust ('the Company')
I report to the charity trustees on my examination of the accounts of the Company for the year ended 5 April 2025.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Association of Chartered Certified Accountants, which is one of the listed bodies.
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or
-
the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Anna Wiffen FCCA
Ashby Berry Coulsons Ltd 2 Belgrave Crescent Scarborough North Yorkshire YO11 1UB
Date: .............................................
Page 4
Scarborough Theatre Development Trust
Statement of Financial Activities (Incorporating an Income and Expenditure Account) for the Year Ended 5 April 2025
| Notes Income and endowments from Donations and legacies 2 Charitable activities 4 Charitable activities Investment income 3 Total Expenditure on Charitable activities 5 Charitable activities NET INCOME/(EXPENDITURE) Reconciliation of funds Total funds brought forward Total funds carried forward |
Unrestricted fund £ - 44,100 780 44,880 13,551 31,329 251,924 283,253 |
Restricted fund £ 443,918 - - 443,918 26,781 417,137 421,845 **838,982 ** |
2025 Total funds £ 443,918 44,100 780 488,798 40,332 448,466 673,769 1,122,235 |
2024 Total funds £ - 44,550 703 45,253 97,566 (52,313) 726,082 673,769 |
|---|---|---|---|---|
The notes form part of these financial statements
Page 5
Scarborough Theatre Development Trust (Registered number: 2801491)
| Balance Sheet 5 April 2025 Notes Fixed assets Tangible assets 12 Current assets Debtors: amounts falling due within one year 13 Cash at bank Creditors Amounts falling due within one year 14 Net current assets Total assets less current liabilities Creditors Amounts falling due after more than one year 15 NET ASSETS Funds 19 Unrestricted funds Restricted funds Total funds |
2025 £ 1,214,203 24,493 73,465 97,958 (47,406) 50,552 1,264,755 (142,520) 1,122,235 283,253 838,982 1,122,235 |
2024 £ 560,485 3,110 277,751 280,861 (15,437) 265,424 825,909 (152,140) 673,769 251,924 421,845 673,769 |
|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2025.
The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2025 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
The notes form part of these financial statements
continued...
Page 6
Scarborough Theatre Development Trust (Registered number: 2801491)
Balance Sheet - continued 5 April 2025
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The financial statements were approved by the Board of Trustees and authorised for issue on ............................................. and were signed on its behalf by:
............................................. R S Lumby - Trustee
The notes form part of these financial statements
Page 7
Scarborough Theatre Development Trust
Notes to the Financial Statements for the Year Ended 5 April 2025
1. Accounting policies
Basis of preparing the financial statements
Scarborough Theatre Development Trust is a charitable company limited by guarantee in England / Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity . The address of the registered office is given in the charity information on page 1 of these financial statements. The charity's operations and principal activities are the management of the property known as the Stephen Joseph Theatre and connected properties, and the distribution of surplus funds by way of grants to the Scarborough Theatre Trust.
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued in October 2019, the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Practice.
The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are presented in sterling which is the functional currency of the charity and rounded to the nearest £.
The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.
Judgements and key sources of estimation uncertainty
The trustees consider that no judgements, apart from those involving estimates, have been made in the process of applying the above accounting policies which have had a significant effect on amounts recognised in the financial statements.
The trustees consider that no key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date have been made which have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year.
Funds
Unrestricted funds are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The cost of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Income
Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item(s) of income have been met, it is probable that the income will be received and the amount can be measured reliably.
Income from government and other grants, whether ‘capital’ grants or ‘revenue’ grants, is recognised at fair value when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably. If entitlement is not met, then these amounts are deferred.
continued...
Page 8
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
1. Accounting policies - continued
Income
For legacies, entitlement is taken as the earlier of the date on which either: the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor’s intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met, then the legacy is a treated as a contingent asset and disclosed if material.
Income received in advance of the provision of specified services is deferred until the criteria for income recognition are met.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that settlement will be required and the amount of the obligation can be measured reliably.
All expenditure is accounted for on an accruals basis. All expenses, including support costs and governance costs, are allocated or apportioned to the applicable expenditure headings in the statement of financial activities.
Expenditure on charitable activities includes the costs of activities undertaken to further the purposes of the charity and their associated support costs.
Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Support costs include administrative and governance costs. Governance costs comprise all costs involving the public accountability of the charity and its compliance with regulation and good practice.
Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure.
Tangible fixed assets
Fixed assets are capitalised at cost and are depreciated over their estimated useful economic lives, as follows:
Purchase of Leasehold Properties Straight line over the life of the lease Improvements to Leasehold Properties Straight line over 25 years Plant and Machinery 20% Reducing balance
Debtors and creditors
Debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.
Concessionary loans
continued...
Page 9
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
1. Accounting policies - continued
Debtors and creditors
In accordance with Section 34 PBE of FRS 102, loans not at market rates are initially measured at the amount received. In subsequent years, the outstanding balance is adjusted to reflect any accrued interest payable.
Provisions
Provisions are recognised when the charity has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.
Leases
Rentals payable and receivable under operating leases are charged to the SoFA on a straight line basis over the period of the lease.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Going concern
The financial statements have been prepared on a going concern basis as the trustees believe that no material uncertainties exist. The trustees have considered the level of funds held and the expected level of income and expenditure for 12 months from authorising these financial statements. In their view the budgeted income and expenditure is sufficient with the level of reserves for the charity to be able to continue as a going concern.
2. Donations and legacies
| Grants - Scarborough Borough Council Grants- other |
2025 £ 393,918 50,000 443,918 |
2024 £ - - - |
|---|---|---|
All of the above income was attributable to restricted funds.
3. Investment income
| Investment income | ||
|---|---|---|
| 2025 | 2024 | |
| £ | £ | |
| Interest received | 780 | 703 |
All the above income for the current and preceding year was attributable to unrestricted funds.
continued...
Page 10
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
4. Income from charitable activities
| Activity Charitable activities Rental income from Scarborough Theatre Trust Other rental income Charitable activities |
2025 £ 27,500 16,600 44,100 |
2024 £ 27,500 17,050 |
|---|---|---|
| 44,550 |
All the above income for the current and preceding year was attributable to unrestricted funds.
5. Charitable activities costs
| Grant funding of activities Support Direct (see note costs (see Costs 6) note 7) £ £ £ Charitable activities 38,556 - 1,776 Comparatives for charitable activities costs Core activities 41,533 54,114 1,919 |
Totals £ 40,332 97,566 |
|---|---|
£26,781 (2024: £30,226) of the above costs were attributable to restricted funds and £13,551 (2024: £67,340) of the above costs were attributable to unrestricted funds.
6. Grants payable
Charitable activities
| 2025 | 2024 | |
|---|---|---|
| £ | £ | |
| - | 54,114 |
Grants totalling £Nil were paid to the Stephen Joseph Theatre during the year (2024: £54,114).
There were no unmet conditions relating to these grants at the year end.
continued...
Page 11
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
| 7. | Support costs | ||
|---|---|---|---|
| Governance | |||
| costs | |||
| £ | |||
| Charitable activities | |||
| 1,776 | |||
| Support costs, included in the above, are as follows: | |||
| Governance costs | |||
| 2025 | 2024 | ||
| Charitable | Total | ||
| activities | activities | ||
| £ | £ | ||
| Independent examiner's remuneration | 1,420 | 1,575 | |
| Trustees' liability insurance | 356 | 344 | |
| 1,776 | 1,919 | ||
| Independent examiner's remuneration | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Independent examination and accounts preparation | 1,420 |
1,575 | |
| 8. | Net income/(expenditure) | ||
| Net income/(expenditure) is stated after charging/(crediting): | |||
| 2025 | 2024 | ||
| £ | £ | ||
| Independent examination | 1,420 | 1,575 | |
| Depreciation - owned assets | 36,051 | 39,716 | |
| Payments under operating leases | 780 | 780 | |
| Loan interest payable | **404 ** | 428 | |
| 9. | Trustees' remuneration and benefits |
No remuneration was paid to any of the trustees (2024- £Nil).
Trustees' expenses
No trustee had any expenses reimbursed (2024 - £Nil).
continued...
Page 12
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
| 10. Comparatives for the statement of financial activities Income and endowments from Charitable activities Charitable activities Investment income Total Expenditure on Charitable activities Charitable activities NET INCOME/(EXPENDITURE) Reconciliation of funds Total funds brought forward Total funds carried forward 11. Tangible fixed assets Cost At 6 April 2024 Additions At 5 April 2025 Depreciation At 6 April 2024 Charge for year At 5 April 2025 Net book value At 5 April 2025 At 5 April 2024 |
Unrestricted Restricted fund fund £ £ 44,550 - 703 - 45,253 - 67,340 30,226 (22,087) (30,226) 274,011 452,071 251,924 421,845 Long Plant and leasehold machinery £ £ 693,049 316,275 689,769 - 1,382,818 316,275 205,864 242,975 21,390 14,661 227,254 257,636 1,155,564 58,639 487,185 73,300 |
Total funds £ 44,550 703 45,253 97,566 (52,313) 726,082 673,769 Totals £ 1,009,324 689,769 1,699,093 448,839 36,051 484,890 1,214,203 560,485 |
|---|---|---|
continued...
Page 13
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
| 12. Debtors: amounts falling due within one year Trade debtors VAT Prepayments 13. Creditors: amounts falling due after more than one year Other loans (see note 15) VAT Accruals and deferred income Accrued expenses 14. Creditors: amounts falling due after more than one year Other loans (see note 15) |
2025 2024 £ £ 2,750 2,750 21,380 - 363 360 24,493 3,110 2025 2024 £ £ 9,596 9,572 - 1,265 3,025 3,025 34,785 1,575 47,406 15,437 2025 2024 £ £ 142,520 152,140 |
|---|---|
A loan of £228,191 was received from Scarborough Theatre Trust Limited under a loan agreement for a maximum of £240,000. The loan was renegotiated from 26 June 2017 to be repaid after 25 years with a 0.25% interest rate.
15. Concessionary loans
An analysis of the maturity of concessionary loans is given below:
| Amounts falling due within one year on demand: Concessionary loans Amounts falling between one and two years: Concessionary loans - 1-2 years Amounts falling due between two and five years: Concessionary loans - 2-5 years Amounts falling due in more than five years: Repayable by instalments: Concessionary loans - more than 5 years |
2025 £ 9,596 9,596 28,788 104,136 |
2024 £ 9,572 9,572 28,716 113,852 |
|---|---|---|
continued...
Page 14
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
16. Leasing agreements
Minimum lease payments under non-cancellable operating leases fall due as follows:
| Within one year Between one and five years In more than five years |
2025 £ 780 3,120 46,605 50,505 |
2024 £ 780 3,120 47,385 |
|---|---|---|
| 51,285 |
Operating leases - lessor
Total future minimum lease payments receivable under non-cancellable operating leases are as follows:
| Within one year Between one and five years In more than five years Analysis of net assets between funds Unrestricted fund £ Fixed assets 375,221 Current assets 97,958 Current liabilities (47,406) Long term liabilities (142,520) 283,253 Comparatives for analysis of net assets between funds Unrestricted fund £ Fixed Assets 138,640 Current Assets 280,861 Current Liabilities (15,437) Long term liabilities (152,140) 251,924 |
Restricted fund £ 838,982 - - - 838,982 Restricted fund £ 421,845 - - - 421,845 |
2025 £ 35,000 125,600 1,0037,50 1,172,850 2025 Total funds £ 1,214,203 97,958 (47,406) (142,520) 1,122,235 2024 Total funds £ 560,485 280,861 (15,437) (152,140) 673,769 |
2024 £ 43,500 133,100 1,031,250 1,207,850 2024 Total funds £ 560,485 280,861 (15,437) (152,140) 673,769 |
|||
|---|---|---|---|---|---|---|
17. Analysis of net assets between funds
Comparatives for analysis of net assets between funds
continued...
Page 15
Scarborough Theatre Development Trust
Notes to the Financial Statements - continued for the Year Ended 5 April 2025
18. Movement in funds
| Unrestricted funds General fund Restricted funds 2018 development project Leasehold purchase |
At 6 April 2024 Incoming Resources £ £ 251,924 488,798 |
At 6 April 2024 Incoming Resources £ £ 251,924 488,798 |
Resources expended £ (13,551 (24,583) (2,198) (26,781) |
At 5 April 2025 £ ) 727,171 252,015 143,049 395,064 |
|---|---|---|---|---|
| 276,598 145,247 421,845 |
- - - |
Comparatives for movements in funds
| Unrestricted funds General fund Restricted funds 2018 development project Leasehold purchase |
At 6 April 2023 Incoming Resources £ £ 274,011 45,253 |
At 6 April 2023 Incoming Resources £ £ 274,011 45,253 |
Resources expended £ (67,340) (28,028) (2,198) (30,226) |
At 5 April 2024 £ 251,924 276,598 145,247 421,845 |
|---|---|---|---|---|
| 304,626 147,445 452,071 |
- - - |
19. Related party disclosures
Mr R S Lumby was a director of Scarborough Theatre Trust Limited throughout the year and subsequently resigned on 1 September 2025.
Page 16
Scarborough Theatre Development Trust
| Detailed Statement of Financial Activities for the Year Ended 5 April 2025 Income and endowments Donations and legacies Grants - Scarborough Borough Council Grants- other Investment income Interest received Charitable activities Rental income from Scarborough Theatre Trust Other rental income Total incoming resources Expenditure Charitable activities Rent payable Repairs and renewals Other office expenses Bookkeeping support Depreciation of tangible fixed assets Loan interest paid Grants to Scarborough Theatre Trust Support costs Governance costs Independent examiner's remuneration Trustees' liability insurance Total resources expended Net income/(expenditure) |
2025 £ 393,918 50,000 443,918 780 27,500 16,600 44,100 488,798 780 726 308 287 36,051 404 - 38,556 1,420 356 1,776 40,332 448,466 |
2024 £ - - - 703 27,500 17,050 44,550 45,253 780 - 358 251 39,716 428 54,114 95,647 1,575 344 1,919 97,566 (52,313) |
|---|---|---|
This page does not form part of the statutory financial statements
Page 17