```
REGISTERED COMPANY NUMBER: 02913278 (England and Wales)
REGISTERED CHARITY NUMBER: 1037121
```
```
Report of the Trustees and
```
```
Financial Statements
```
```
for the Year Ended 31 March 2025
```
```
for
```
## **`THE RADLETT CENTRE TRUST`**
```
Nagler Simmons
Chartered Accountants and Statutory Auditors
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR
```
```
THE RADLETT CENTRE TRUST
```
## **`Contents of the Financial Statements FOR THE YEAR ENDED 31 MARCH 2025`**
||**`Page`**|
|---|---|
|**`Report of the Trustees`**|`1 to 8`|
|**`Report of the Independent Auditors`**|`9 to 12`|
|**`Statement of Financial Activities`**|`13`|
|**`Balance Sheet`**|`14 to 15`|
|**`Cash Flow Statement`**|`16`|
|**`Notes to the Cash Flow Statement`**|`17`|
|**`Notes to the Financial Statements`**|`18 to 33`|
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
```
TheTrusteesofTheRadlettCentreTrust(theCompany),whoarealsothedirectorsofthecharityfor the
purposesoftheCompaniesAct2006,presenttheirreportwiththefinancialstatementsofthecharityfor the
yearended31March2025.TheTrusteeshaveadoptedtheprovisionsoftheStatementof Recommended
Practice(SORP)applicabletocharitiespreparingtheiraccountsinaccordancewiththeFinancial Reporting
Standard applicable in the UK and Republic of Ireland (FRS 102).
```
## **`OBJECTIVES AND ACTIVITIES`**
## **`Objectives and charitable aims`**
```
The principal objectives and charitable aims of the Company are:
```
```
a) To provideand promotea diverseprogrammeof concerts,showsand exhibitionswhich,overall,will appeal
toallagesandsectionsofthecommunity.Theprogrammeshouldinclude:drama,artandmusicofall genres
and cultural, educational, topical and local events.
```
```
b) To provideand maintainthe buildingas a communitycentre and providemeetingroomsfor hire for courses,
meetings, lectures, classes, seminars, exhibitions and educational, cultural and recreational events.
```
```
c) To offershowsand servicesfor the inhabitantsof the Parishof Aldenhamand surrounding neighbourhoods,
in a way that will attract high quality performances and appeal to audiences and facility hirers.
```
```
To achievethese objectivesand charitableaims, the Companyleases from AldenhamParish Councilthe Radlett
Centre, which was opened on 27 April 1996.
```
## **`Strategies`**
```
The strategies employed to achieve the Company's charitable aims are to:
```
```
a)OffertheresidentsoftheParishofAldenhamsubsidisedservicesinrelationtothesubsidyprovided by
Aldenham Parish Council, and, as far as practicable, meet residents' aspirations.
```
```
b)Operatewithoutdiscriminationagainstage,sexualorientation,disability,nationality,ethnicor national
origin, religion and to be politically neutral.
```
```
c)OfferlocalartiststheopportunitytopromotetheirworkthroughexhibitionsintheApthorpGallery and/or
in the café bar and foyer area.
```
```
d) Allowamateurand professionalartists,schools,localsocietiesand groupsto develop,throughthe provision
of appropriate facilities for hire, at rates discounted where appropriate.
```
```
e) Promotethe involvementof young people in the Arts throughfacilitatingthe provisionof drama and musical
workshops.
```
```
f)Celebratethediversityofculturesinsocietybyprogrammingeventsinvolvingartistsofdifferent cultural
backgrounds.
```
```
Page 1
```
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
## **`OBJECTIVES AND ACTIVITIES`**
## **`Public Benefit`**
```
TheTrusteesconfirmthattheyhavecompliedwiththedutyofsection17oftheCharitiesAct2011to have
regardtothepublicbenefitguidancepublishedbytheCharityCommissionindeterminingthe activities
undertaken by the Company.
```
## **`Significant activities`**
```
Puttingthesestrategiesinto action,the principalareasof activityare concerts,showsand stage performances,
educationalprogrammes,artexhibitionsanduseofthecommunityhallandmeetingroomsforpublic and
private functions.
```
```
Thestageperformancescombinebothamateurcommunitysocietiesandprofessionalproductions.The local
groupsincludeTheRadlettMusicClub,RadlettArtSocietyandRadlettMusicalTheatreCompanyaswellas a
numberoflocalschools.Theprofessionaleventsincludecomedians,singers,tributebands,dramas, ballet,
manychildren'sshowsand a full pantomimerun everyDecember.All programmesachievea mix of the Arts to
suitarangeofpublictasteswiththeemphasisonmaintainingapopularprogrammewhichunderpins the
viability of the theatre.
```
```
Theeducationalprogrammeinvolveslocalschoolswhichenablethemtoperforminthetheatreand attend
Children's Musical Theatre courses, as well as enjoy performances suitable for their age group.
```
## **`Volunteers`**
```
TheCompanyisveryinvolvedinthecommunityandisdependentonvoluntaryhelp.Besidesthe amateur
performersand artistswho displaytheirtalentsat the RadlettCentre,volunteersassistwith stewarding events
andperformances,enablinglowerstaffcoststhanwouldotherwisebethecase.Itisestimatedthat, without
this help, an additional two staff would be required 'front of house' at a cost of approximately £30,000.
```
```
Page 2
```
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
## **`ACHIEVEMENTS AND PERFORMANCE`**
## **`Charitable activities`**
```
LocalresidentsfromtheParishofAldenhamstillmakeupa substantialproportionoftheusersofthe Radlett
Centre,evenafterit has beenin existencefor overtwentyfiveyears.However,the venueis alsopopular with
peopleandgroupsclusteredinNorthLondonandHertfordshire,whichshowstheRadlettCentre's reputation
forbeingaproviderofgoodqualityentertainment.ThisattractionfrompersonsoutsidetheParish benefits
localgroupsbyappealingtoaswidea marketaspossibleastheytrytodealwiththeeconomiesof balancing
the books.
```
```
TheCompanyactivelyencouragestheuseoftheRadlettCentrebyothercharities,providinga much-reduced
hirerateforthetheatreandconferencerooms.ThemajorityoftheincomefromhiringtheRadlett Centre
derives from this reduced charities' rate.
```
```
TheCompany'scommitmenttothecommunitycontinuesthroughhostingtheCitizensAdvice Bureau,
CommunityHertsmere,MemberofParliament,Policesurgeries,theParishCouncilmeetings,the Annual
Winter Fair and Parish Meetings for the Parish of Aldenham.
```
```
40,067(2024:39,723)ticketswere sold for professionalshowsin the past year,as well as ticketsfor charitable
eventsand localamateurgroups.The staffare acknowledgedfor theirskilland professionalism,which enables
the Radlett Centre to provide a helpful courteous service to its broad range of customers.
```
## **`Internal and External factors`**
```
TheTrustees,throughitsResourcessub-committee,havemadea fullassessmentoftheinternaland external
factorsthat may affectthese financialstatements.It has concludedthat they do not deem any factors material
enough to report save in respect of the following.
```
## **`FINANCIAL REVIEW`**
## **`Principal funding sources`**
```
TheCompanyispleasedandfortunatetoreceivefundingfromanumberoforganisationsand individuals.
Duringthecurrentyearit receivedfundingin theformof a substantialsubsidyfromAldenhamParish Council,
totalling £120,000 (2024: £140,000).
```
```
Thecontinuedsupportofourpartnersandgenerousdonorsisessentialin maintainingthevaried programme
of creative arts since most concerts and performances are not self-financing.
```
```
Page 3
```
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
## **`FINANCIAL REVIEW`**
## **`Investment policy and objectives`**
```
InadditiontotheexistinginvestmentwithA&JWealthManagement,showninNote15oftheaccounts, the
Trusteeshavemadethedecisiontoinvestfurtherfundsintoacombinationofshort,medium,andlong term
savings accounts, as a result of the improved interest rate opportunities.
```
```
In January2024,an initialinvestmentwasmadewithCambridge& Counties,dueto theircompetitive interest
rates.AfurtheramountwasinvestedwithCambridge&CountiesinJanuary2025,takingadvantage of
continued attractive rates.
```
```
Additionally,a decisionwasmadetoopena oneyearfixedbondwithAldermore,as partoftheTrustees plan
to get the best returns on available funds.
```
```
Morerecently,the Trusteesdecidedto keepless moneyin the Barclayscurrentaccountand placedfunds with
an instant access account with CCLA, because of their competitive interest rates.
```
```
Board reviews the investment strategy annually.
```
## **`Reserves policy`**
```
ThetrusteesoperateareservespolicytoensuretheCompanycanmanagefinancialrisksarising from
unexpectedfinancialpressuresandcancontinuetomeetitsobjectivesofmaintainingTheRadlett Centre
buildingtoahighstandardandprovidingthedeliveryofhighqualityproductionsthroughouttheyear. The
trusteesreviewthenatureandlevelofreservesona regularbasisandaimtokeepsufficientfreereserves to
coverapproximately6-9 monthsof directoperatingcosts.The free reservesat 31 March2025were £567,142,
so this target has been achieved.
```
```
TheCompanyandAldenhamParishCouncilhavejointlysetasidemoneyswithina buildingfundtoenable the
funding of expensive internal non-structural repairs within the building.
```
## **`Results for the period`**
```
Theyearendresultsreflecta verysuccessfulyear,withstrongticketsales,despitethecontinuing challenging
economicclimate.Costsweregenerallycontainedwithinbudget:unrestrictedincomeexceeded expenditure
by £126,590 (2024: £109,039).
```
## **`FUTURE PLANS`**
```
TheTrusteeshavedrawnupaten-yearmaintenanceandimprovementplanforthebuilding.The Trustees
work closelywith AldenhamParish council,who hold the head lease on buildingand the maintenanceplans are
reviewedregularlyatmeetingsinvolvingbothparties.In2013theBoardandAldenhamParish Council
commissionedacompanytocarryoutabuildingconditionssurveytoindicateliabilitiesoverthenext ten
years. The results of the original survey are reviewed and updated on an annual basis.
```
```
Page 4
```
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Governing document`**
```
TheRadlettCentreTrust(theCompany)isaCompanyLimitedbyGuarantee,governedbyits Memorandum
andArticlesofAssociationdated10February2016.ItisregisteredasacharitywiththeCharity Commission.
EachoftheTrusteesisamemberoftheCompanyduringtheirowntermofserviceandeachagrees to
contribute £1 in the event of the Company winding up.
```
## **`Governance`**
```
InlinewithbestpracticeandalsoguidancefromtheCharityCommission,thecompositionoftheBoard was
reviewedin 2021andtheskills/rolerequirementsoftheCompanyassessed.Trusteesareappointedtofill the
required skill/role sets.
```
## **`Induction and training of trustees`**
```
Trusteesare advisedof any relevanttrainingmaterial/coursesavailableand are activelyencouragedto read or
attend.
```
## **`Recruitment and appointment of new trustees`**
```
TheTrusteesare appointedby membersof the Company.Withthe exceptionof up to twoex officio Trustees,
trustees usually retire after four years unless it is deemed in the interest of the Trust for them to continue.
```
```
Themembersmaybyordinaryresolutionappointanypersontobea Trustee,eithertofilla vacancyoras an
additional Trustee, where a need for a particular skill has been identified.
```
## **`Organisational structure`**
```
TheBoardofTrusteesconsistsofupto12memberswhoadministertheCompany.TheBoardmeetsat least
fivetimesin the yearto discussstrategyand policy,and reviewthe budgetsetc. Workinggroups,which report
totheBoard,meetonanasrequiredbasistoconsiderspecificprojectsorissues.TheBoardhasappointed a
GeneralManager,GregDexter,toruntheRadlettCentreandhasdelegatedauthorityforhimtodeal with
operational matters, including bookings, finance and employment. He reports regularly to the Board.
```
## **`Business Plan`**
```
AFinanceandAuditsub-committeeoftheboardhasbeensetuptoreviewallaspectsoffinanceandit has
been proposed that there should be a strategy meeting of the full board to review the business plan.
```
## **`Related parties`**
```
The Companyhas a partnershiparrangementwithAldenhamParishCouncil,whichprovidesan annual subsidy
totheCompany.AldenhamParishCouncilconsidersthatitisimportantthatitprovidesalocalfacility which
enablesitsparishionerstoappreciatetheArtsinallitsfacets.AldenhamParishCouncilactivelypromotes the
work of the Company through its newsletter delivered to every household in the Parish.
```
```
Page 5
```
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
## **`STRUCTURE, GOVERNANCE AND MANAGEMENT`**
## **`Risk management`**
```
TheTrusteestakethisareaseriouslyand in 2018carriedouta comprehensivereviewof the risksfacedby the
Company.Thisincludedtheriskoffraudanderror,catastrophesandreputationalrisksamongstothers to
ensureappropriateproceduresand processesarein placeto mitigatetheserisks.Theriskregisteris reviewed
by the Board on a bi-annual basis.
```
```
ThekeyrisktotheCompanycontinuestobethefailuretoraisesufficientincometomeetitsobjectives. In
particularthe Trusteesare awareof the risk of AldenhamParishCouncilreducingthe grantat any time,due to
the financial constraints on local councils.
```
```
Insurance has been purchased, where necessary, to cover all material insurable risks.
```
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Registered Company number`**
```
02913278 (England and Wales)
```
## **`Registered Charity number`**
```
1037121
```
## **`Registered office`**
```
The Radlett Centre
1 Aldenham Avenue
Radlett
Hertfordshire
WD7 8HL
```
## **`Trustees`**
```
The trustees serving during the year were as follows:
```
|`Aldenham Parish Council`|||
|---|---|---|
|`Nominees:`|`John Graham`||
||`Mohammed Khawaja`||
|`Elected trustees:`|`Catherine Curran (Chair)`||
||`Danielle Alexander`||
||`Wendy Griffin`||
||`Neil Myerson`||
||`Irene Swain`||
||`Garry Walton`||
||`Martin Jeens`||
||`John Greatrex`|`(Appointed on 25 September 2024)`|
||`Rachael Davis-Stollar`|`(Resigned on 8 January 2025)`|
||`Shaun Wilson`|`(Resigned on 4 May 2024)`|
```
Page 6
```
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
## **`REFERENCE AND ADMINISTRATIVE DETAILS`**
## **`Auditors`**
```
Nagler Simmons
Chartered Accountants and Statutory Auditors
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR
```
## **`Bankers`**
```
Barclays Bank plc,
12 Station Approach
Gerrards Cross
Buckinghamshire
SL9 8PP
```
## **`Solicitors`**
```
Penman Sedgwick LLP
5 George Street
Watford
Hertfordshire
WD18 0SQ
```
```
Page 7
```
```
THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)
```
## **`Report of the Trustees FOR THE YEAR ENDED 31 MARCH 2025`**
## **`STATEMENT OF TRUSTEES' RESPONSIBILITIES`**
```
TheTrustees(whoarealsothedirectorsofTheRadlettCentreTrustforthepurposesofcompanylaw) are
responsiblefor preparingthe Reportof the Trusteesand the financialstatementsin accordancewith applicable
law and United Kingdom Generally Accepted Accounting Practice.
```
```
CompanylawrequirestheTrusteestopreparefinancialstatementsforeachfinancialyearwhichgivea true
and fair viewof the stateof affairsof the charitablecompanyand of the incomingresourcesand application of
resources,includingthe incomeand expenditure,of the charitablecompanyfor that period.In preparing those
financial statements, the Trustees are required to:
```
- `select suitable accounting policies and apply them consistently;`
- `observe the methods and principles in the Charity SORP;`
- `make judgements and estimates that are reasonable and prudent;`
- `prepare the financial statements on the going concern basis unless it is inappropriate to presume that the`
- `Company will continue in business.`
```
The Trusteesare responsiblefor keepingproperaccountingrecordswhich disclosewith reasonableaccuracy at
anytimethefinancialpositionofthecharitablecompanyandtoenablethemtoensurethatthe financial
statementscomplywiththeCompaniesAct2006.Theyarealsoresponsibleforsafeguardingtheassetsof the
charitablecompanyand hencefor takingreasonablestepsfor the preventionand detectionof fraudand other
irregularities.
```
```
In so far as the Trustees are aware:
```
```
- there is no relevant audit information of which the Company's auditors are unaware; and
```
```
-the Trusteeshave taken all steps that they ought to have taken to make themselvesaware of any relevant
audit information and to establish that the auditors are aware of that information.
```
## **`AUDITORS`**
```
Theauditors,NaglerSimmons,willbeproposedforre-appointmentattheforthcomingAnnual General
Meeting.
```
```
Approved by order of the board of trustees on 1 December 2025 and signed on its behalf by:
```
```
Mrs C Curran - Trustee
```
```
Page 8
```
## **`Report of the Independent Auditors to the Trustees of The Radlett Centre Trust`**
## **`Opinion`**
```
WehaveauditedthefinancialstatementsofTheRadlettCentreTrust(the'charitablecompany')forthe year
ended31March2025whichcomprisetheStatementofFinancialActivities,theBalanceSheet,theCash Flow
Statementandnotestothefinancialstatements,includingasummaryofsignificantaccountingpolicies. The
financialreportingframeworkthathas beenappliedin theirpreparationis applicablelaw and United Kingdom
Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
```
## `In our opinion the financial statements:`
- `give a true and fair view of the state of the charitable company's affairs as at 31 March 2025 and of its incoming resources and application of resources, including its income and expenditure, for the year then ended;`
- `have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and`
- `have been prepared in accordance with the requirements of the Companies Act 2006.`
## **`Basis for opinion`**
```
We conductedour audit in accordancewith InternationalStandardson Auditing(UK) (ISAs (UK))and applicable
law.OurresponsibilitiesunderthosestandardsarefurtherdescribedintheAuditors'responsibilitiesfor the
auditofthefinancialstatementssectionofourreport.Weareindependentofthecharitablecompany in
accordancewiththeethicalrequirementsthatarerelevanttoourauditofthefinancialstatementsin the UK,
includingtheFRC'sEthicalStandard,andwehavefulfilledourotherethicalresponsibilitiesin accordance with
theserequirements.Webelievethattheauditevidencewehaveobtainedissufficientandappropriate to
provide a basis for our opinion.
```
## **`Conclusions relating to going concern`**
```
Inauditingthefinancialstatements,wehaveconcludedthatthetrustees'useofthegoingconcernbasis of
accounting in the preparation of the financial statements is appropriate.
```
```
Basedon the workwe haveperformed,we havenot identifiedany materialuncertaintiesrelatingto events or
conditionsthat,individuallyorcollectively,maycastsignificantdoubtonthecharitablecompany'sability to
continueasagoingconcernforaperiodofatleasttwelvemonthsfromwhenthefinancialstatements are
authorised for issue.
```
```
Ourresponsibilitiesandtheresponsibilitiesofthetrusteeswithrespecttogoingconcernaredescribedin the
relevant sections of this report.
```
```
Page 9
```
```
Report of the Independent Auditors to the Trustees of
The Radlett Centre Trust
```
## **`Other information`**
```
Thetrusteesareresponsiblefortheotherinformation.Theotherinformationcomprisesthe information
includedin the Annual Report,otherthan the financialstatementsand our Reportof the Independent Auditors
thereon.
```
```
Ouropiniononthefinancialstatementsdoesnotcovertheotherinformationand,excepttothe extent
otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.
```
```
In connectionwith our audit of the financialstatements,our responsibilityis to read the other information and,
in doingso,considerwhethertheotherinformationis materiallyinconsistentwiththefinancialstatements or
ourknowledgeobtainedintheauditorotherwiseappearstobemateriallymisstated.Ifweidentify such
materialinconsistenciesor apparentmaterialmisstatements,we are requiredto determinewhetherthis gives
risetoamaterialmisstatementinthefinancialstatementsthemselves.If,basedontheworkwe have
performed,weconcludethatthereisamaterialmisstatementofthisotherinformation,wearerequired to
report that fact. We have nothing to report in this regard.
```
## **`Matters on which we are required to report by exception`**
```
WehavenothingtoreportinrespectofthefollowingmatterswheretheCharities(Accountsand Reports)
Regulations 2008 requires us to report to you if, in our opinion:
```
- `the information given in the Report of the Trustees is inconsistent in any material respect with the financial statements; or`
- `the charitable company has not kept adequate accounting records; or`
- `the financial statements are not in agreement with the accounting records and returns; or`
- `we have not received all the information and explanations we require for our audit.`
## **`Responsibilities of trustees`**
```
As explainedmorefullyin theStatementof Trustees'Responsibilities,thetrustees(whoarealsothe directors
ofthecharitablecompanyforthepurposesofcompanylaw)areresponsibleforthepreparationof the
financialstatementsand forbeingsatisfiedthattheygivea trueand fairview,and forsuchinternalcontrol as
thetrusteesdetermineisnecessarytoenablethepreparationoffinancialstatementsthatarefree from
material misstatement, whether due to fraud or error.
```
```
Inpreparingthefinancialstatements,thetrusteesareresponsibleforassessingthecharitable company's
abilityto continueas a goingconcern,disclosing,as applicable,mattersrelatedto goingconcernand using the
goingconcernbasisofaccountingunlessthetrusteeseitherintendtoliquidatethecharitablecompanyor to
cease operations, or have no realistic alternative but to do so.
```
```
Page 10
```
```
Report of the Independent Auditors to the Trustees of
The Radlett Centre Trust
```
## **`Our responsibilities for the audit of the financial statements`**
```
We have been appointedas auditorsunder Section144 of the CharitiesAct 2011and reportin accordance with
the Act and relevant regulations made or having effect thereunder.
```
```
Ourobjectivesare to obtainreasonableassuranceaboutwhetherthe financialstatementsas a wholeare free
frommaterialmisstatement,whetherdue to fraudor error,and to issuea Reportof the Independent Auditors
thatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethat an
auditconductedinaccordancewithISAs(UK)willalwaysdetectamaterialmisstatementwhenit exists.
Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorinthe aggregate,
theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisof these
financialstatements.Irregularities,includingfraud,are instancesof non-compliancewithlawsand regulations.
Wedesignproceduresinlinewithourresponsibilities,outlinedabove,todetectmaterialmisstatements in
respect of irregularities, including fraud.
```
```
The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
```
```
Wegainedan understandingofthelegalandregulatoryframeworkthatthecharityoperatesin,and assessed
theriskofnon-compliancewithapplicablelawsandregulations.Throughouttheaudit,weremainedalert to
the possible indications of non-compliance.
```
```
Wereviewedthecharity'spoliciesandproceduresinrelationtoidentifying,evaluatingandcomplying with
lawsandregulationsandwhethertheywereawareofanyinstancesofnon-compliance;detecting and
respondingtotheriskoffraud,andwhethertheywereawareofanyactual,suspectedorallegedfraud; and
designingand implementinginternalcontrolsto mitigatethe risk of non-compliancewith laws and regulations,
including fraud.
```
```
We inspected the minutes of trustee meetings.
```
```
Wereviewedthefinancialstatementdisclosuresandassessedtheircompliancewithapplicablelaws and
regulations.
```
```
Weperformedanalyticalprocedurestoidentifyanyunusualorunexpectedtransactionsorbalancesthat may
indicate a risk of fraud or error.
```
```
We assessedthe risk of fraud throughmanagementoverrideof controlsand carriedout proceduresto address
this risk.Our proceduresincludedtestingthe appropriatenessof journalentries;assessingthe judgements and
accountingestimatesforpotentialbias;reviewingrelatedpartytransactions;andtestingtransactionsthat are
unusual or outside the normal course of business.
```
```
A furtherdescriptionof ourresponsibilitiesforthe auditof the financialstatementsis locatedon the Financial
ReportingCouncil'swebsiteatwww.frc.org.uk/auditorsresponsibilities.Thisdescriptionformspartof our
Report of the Independent Auditors.
```
```
Page 11
```
## **`Report of the Independent Auditors to the Trustees of The Radlett Centre Trust`**
## **`Use of our report`**
```
Thisreportismadesolelytothecharitablecompany'strustees,asabody,inaccordancewithPart4of the
Charities(Accountsand Reports)Regulations2008.Our audit work has been undertakenso that we might state
to the charitablecompany'strusteesthosematterswe are requiredto stateto them in an auditors'report and
fornootherpurpose.Tothefullestextentpermittedbylaw,wedonotacceptorassumeresponsibility to
anyoneotherthanthecharitablecompanyandthecharitablecompany'strusteesasabody,forour audit
work, for this report, or for the opinions we have formed.
```
```
for and on behalf of Nagler Simmons
Chartered Accountants and Statutory Auditors
Eligible to act as an auditor in terms of Section 1212 of the Companies Act 2006
5 Beaumont Gate
Shenley Hill
Radlett
WD7 7AR
```
```
Date: .............................................
```
```
Page 12
```
```
THE RADLETT CENTRE TRUST
```
## **`Statement of Financial Activities`**
## **`(Incorporating an Income and Expenditure Account) FOR THE YEAR ENDED 31 MARCH 2025`**
|**`Notes`**
**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
`3`
**`Charitable activities`**
`5`
`Concerts and stage performance`
`Hire of centre`
`Educational programmes`
`Art exhibition`
`Investment income`
`4`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`6`
`Concerts and stage performance`
`Hire of centre`
`Educational programmes`
`Art exhibition`
`Governance costs`
`Other`
**`Total`**
`Net gains on investments`
**`NET INCOME`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|**`Unrestricted`**
**`funds`**
**`£`**
`4,205`
`855,941`
`203,370`
`82,507`
`7,704`
`12,669`
`1,166,396`
`877,945`
`108,336`
`42,700`
`2,394`
`6,800`
`1,631`
`1,039,806`
`2,677`
`129,267`
`883,866`
`1,013,133`|**`Restricted`**
**`funds`**
**`£`**
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`106,000`
`106,000`|**`31.3.25`**
**`Total`**
**`funds`**
**`£`**
`4,205`
`855,941`
`203,370`
`82,507`
`7,704`
`12,669`
`1,166,396`
`877,945`
`108,336`
`42,700`
`2,394`
`6,800`
`1,631`
`1,039,806`
`2,677`
`129,267`
`989,866`
`1,119,133`|**`31.3.24`**
**`Total`**
**`funds`**
**`£`**
`74,943`
`794,888`
`200,722`
`79,316`
`8,418`
`3,335`|
|---|---|---|---|---|
|||||`1,161,622`|
|||||`825,945`
`112,455`
`42,626`
`2,798`
`6,000`
`1,514`|
|||||`991,338`|
|||||`8,755`|
|||||`179,039`
`810,827`|
|||||`989,866`|
```
The notes form part of these financial statements
```
```
Page 13
```
## **`THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)`**
## **`Balance Sheet`**
## **`31 MARCH 2025`**
|**`Notes`**
**`FIXED ASSETS`**
`Tangible assets`
`14`
`Investments`
`15`
**`CURRENT ASSETS`**
`Stocks`
`16`
`Debtors`
`17`
`Cash at bank and in hand`
**`CREDITORS`**
`Amounts falling due within one year`
`18`
**`NET CURRENT ASSETS`**
**`TOTAL ASSETS LESS CURRENT LIABILITIES`**
**`NET ASSETS`**
**`FUNDS`**
`19`
`Unrestricted funds:`
`General fund`
`Building Fund`
`Restricted funds:`
`Building fund`
**`TOTAL FUNDS`**|**`Unrestricted`**
**`funds`**
**`£`**
`179,892`
`111,727`
`291,619`
`502`
`46,618`
`875,871`
`922,991`
`(201,477)`
`721,514`
`1,013,133`
`1,013,133`|**`Restricted`**
**`funds`**
**`£`**
`-`
`-`
`-`
`-`
`-`
`106,000`
`106,000`
`-`
`106,000`
`106,000`
`106,000`|**`31.3.25`**
**`Total`**
**`funds`**
**`£`**
`179,892`
`111,727`
`291,619`
`502`
`46,618`
`981,871`
`1,028,991`
`(201,477)`
`827,514`
`1,119,133`
`1,119,133`
`747,034`
`266,099`
`1,013,133`
`106,000`
`1,119,133`|**`31.3.24`**
**`Total`**
**`funds`**
**`£`**
`181,484`
`110,207`
`291,691`
`263`
`50,583`
`887,449`
`938,295`
`(240,120)`
`698,175`
`989,866`
`989,866`
`617,767`
`266,099`
`883,866`
`106,000`
`989,866`|
|---|---|---|---|---|
```
Thecharitablecompanyis entitledtoexemptionfromauditunderSection477oftheCompaniesAct2006 for
the year ended 31 March 2025.
```
```
The notes form part of these financial statements
```
```
continued...
```
```
Page 14
```
## **`THE RADLETT CENTRE TRUST (REGISTERED NUMBER: 02913278)`**
## **`Balance Sheet - continued`**
## **`31 MARCH 2025`**
```
Themembershavenotdepositednotice,pursuanttoSection476oftheCompaniesAct2006requiring an
audit of these financial statements.
```
```
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.`
```
Thesefinancialstatementshavebeenpreparedinaccordancewiththeprovisionsapplicableto charitable
companies subject to the small companies regime.
```
```
ThefinancialstatementswereapprovedbytheBoardofTrusteesandauthorisedforissue on
1 December 2025 and were signed on its behalf by:
```
```
C Curran - Trustee
```
```
I Swain - Trustee
```
```
The notes form part of these financial statements
```
```
Page 15
```
## **`THE RADLETT CENTRE TRUST`**
## **`Cash Flow Statement`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
|**`Notes`**
**`Cash flows from operating activities`**
`Cash generated from operations`
`1`
`Net cash provided by operating activities`
**`Cash flows from investing activities`**
`Purchase of tangible fixed assets`
`Purchase of fixed asset investments`
`Sale of fixed asset investments`
`Net cash used in investing activities`
**`Change in cash and cash equivalents in`**
**`the reporting period`**
**`Cash and cash equivalents at the`**
**`beginning of the reporting period`**
**`Cash and cash equivalents at the end of`**
**`the reporting period`**|**`31.3.25`**
**`£`**
`124,742`
`124,742`
`(31,477)`
`(20,195)`
`21,352`
`(30,320)`
`94,422`
`887,449`
`981,871`|**`31.3.24`**
**`£`**
`177,807`
`177,807`
`(111,376)`
`(36,239)`
`32,458`
`(115,157)`
`62,650`
`824,799`
`887,449`|
|---|---|---|
```
The notes form part of these financial statements
```
```
Page 16
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Cash Flow Statement`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`1. RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES`**
|**`Net income for the reporting period (as per the Statement of`**
**`Financial Activities)`**
**`Adjustments for:`**
`Depreciation charges`
`Gain on investments`
`Loss on disposal of fixed assets`
`(Increase)/decrease in stocks`
`Decrease/(increase) in debtors`
`(Decrease)/increase in creditors`
**`Net cash provided by operations`**|**`31.3.25`**
**`£`**
`129,267`
`25,819`
`(2,677)`
`7,250`
`(239)`
`3,965`
`(38,643)`
`124,742`|**`31.3.24`**
**`£`**
`179,039`
`25,147`
`(8,755)`
`1,476`
`271`
`(22,784)`
`3,413`
`177,807`|
|---|---|---|
## **`2.`**
## **`ANALYSIS OF CHANGES IN NET FUNDS`**
||**`At 1.4.24`**|**`Cash flow`**|**`At 31.3.25`**|
|---|---|---|---|
||**`£`**|**`£`**|**`£`**|
|**`Net cash`**||||
|`Cash at bank and in hand`|`887,449`|`94,422`|`981,871`|
||`887,449`|`94,422`|`981,871`|
|**`Total`**|`887,449`|`94,422`|`981,871`|
```
The notes form part of these financial statements
```
```
Page 17
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements FOR THE YEAR ENDED 31 MARCH 2025`**
## **`1. STATUTORY INFORMATION`**
```
The presentation currency of the financial statements is the Pound Sterling (£).
```
## **`2. ACCOUNTING POLICIES`**
## **`Basis of preparing the financial statements`**
```
The financialstatementsof the charitablecompany,which is a public benefitentityunder FRS 102, have
beenpreparedin accordancewiththe CharitiesSORP(FRS102)'Accountingand Reportingby Charities:
Statementof RecommendedPracticeapplicableto charitiespreparingtheir accountsin accordance with
theFinancialReportingStandardapplicableintheUKandRepublicofIreland(FRS102)(effective 1
January2019)',FinancialReportingStandard102'TheFinancialReportingStandardapplicablein the UK
andRepublicofIreland'andtheCompaniesAct2006.Thefinancialstatementshavebeen prepared
underthehistoricalcostconvention,withtheexceptionofinvestmentswhichareincludedat market
value, as modified by the revaluation of certain assets.
```
## **`Critical accounting judgements and key sources of estimation uncertainty`**
```
Thereareno judgements,estimatesorassumptionsthataffecttheamountsrecognisedin the financial
statements.
```
## **`Going concern`**
```
Thefinancialstatementshavebeenpreparedona goingconcernbasisastheTrusteesbelievethat the
CompanyhassufficientsupportfromAldenhamParishCouncilandreservestocontinue.The Trustees
haveconsideredtheleveloffundsheldandtheexpectedlevelofincomeandexpenditurefor 12
monthsfromauthorisingthesefinancialstatements.The budgetedincomeand expenditureis sufficient
with the level of revenues for the company to be able to continue as a going concern.
```
## **`Income`**
```
All incomeis recognisedin theStatementof FinancialActivitiesoncethecharityhas entitlementto the
funds,it is probablethat the incomewill be receivedand the amountcan be measuredreliably. Income
from charitable activities is measured at the fair value of the consideration receivable, excluding VAT.
```
## **`Deferred income`**
```
Aprovisionfordeferredincomeismadewheretheincomeisreceivedintheyearbutcanonly be
recognised for the next financial year and can be reliably measured at the balance sheet date.
```
## **`Expenditure`**
```
Liabilitiesare recognisedas expenditureas soon as there is a legal or constructiveobligation committing
thecharitytothatexpenditure,itisprobablethatatransferofeconomicbenefitswillberequired in
settlementand the amountof the obligationcan be measuredreliably.Expenditureis accountedfor on
an accrualsbasisand has beenclassifiedunderheadingsthataggregateall costrelatedto the category.
Wherecostscannotbedirectlyattributedtoparticularheadingstheyhavebeenallocatedto activities
on a basis consistent with the use of resources.
```
```
continued...
```
```
Page 18
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`2. ACCOUNTING POLICIES - continued`**
## **`Tangible fixed assets`**
```
TangiblefixedassetsforusebytheCompanyarestatedatcost(includinganyincidentalexpenses of
acquisition) less depreciation.
```
```
Depreciationisprovidedatratescalculatedtowriteoffthecostoffixedassets,lesstheir estimated
residual value, over their expected useful lives on the following bases.
```
```
Auditorium seating 4% straight line
Fixtures and fittings 20% reducing balance
Sound and light equipment 20% reducing balance
```
```
Individual fixed assets costing £2,000 or more are capitalised at cost.
```
```
The buildingis ownedby HertsmereBoroughCouncil.Replacementand enhancementcosts are charged
to the Company's Statement of Financial Activities.
```
## **`Stocks`**
```
Stocksare valuedat the lowerof costand net realisablevalue,aftermakingdue allowancefor obsolete
and slow moving items.
```
## **`Taxation`**
```
The Company is exempt from corporation tax on its charitable activities.
```
## **`Fund accounting`**
```
Unrestrictedgeneralfundscan be usedin accordancewiththe charitableobjectivesat the discretion of
the Trustees.
```
```
Designatedfundsarefundssetasideoutofunrestrictedgeneralfundsforspecificfuturepurposes in
accordancewiththedevelopmentplansoftheorganisationandtoenablethecompletionof existing
projects.
```
```
Restrictedfundscan onlybe usedforparticularrestrictedpurposeswithintheobjectsof the Company.
Restrictionsarisewhenspecifiedbythedonororwhenfundsareraisedforparticular restricted
purposes.
```
```
Furtherexplanationofthenatureandpurposeofeachfundisincludedinthenotestothe financial
statements.
```
```
continued...
```
```
Page 19
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`2. ACCOUNTING POLICIES - continued`**
## **`Pension costs and other post-retirement benefits`**
```
TheCompanyoperatesadefinedcontributionspensionschemeandalsoparticipatesin a
multi-employerdefinedbenefitpensionplan.Thepensionchargeinthefinancialstatements includes
totalcontributionspayableinrespectofbothtypesofschemes.Thechangeinvalueoftheassets and
liabilitiesarisingfrom asset valuation,changesin benefit,actuarialassumptionsof changein the level of
deficitattributabletomembersisrecognisedintheStatementofFinancialActivities.The resulting
pension liability or asset is shown on the balance sheet.
```
## **`Operating leases`**
```
RentalsapplicabletooperatingleasesarechargedtotheStatementofFinancialActivitiesduring the
period in which the cost is incurred.
```
## **`Financial instruments`**
```
The Companyhas chosento apply the provisionsof Section11 "Basic FinancialInstruments"and Section
12 "Other Financial Instruments Issues" of FRS 102 to all of its financial instruments.
```
## **`Basic financial assets`**
```
Basicfinancialassets,whichincludedebtorsandcashandbankbalances,areinitiallymeasured at
transactionpriceincludingtransactioncostsandaresubsequentlycarriedatamortisedcostusing the
effectiveinterestmethodunlessthearrangementconstitutesafinancingtransaction,where the
transactionismeasuredatthepresentvalueofthefuturereceiptsdiscountedatamarketrate of
interest. Financial assets classified as receivable within one year are not amortised.
```
## **`Basic financial liabilities`**
```
Basicfinancialliabilities,includingcreditors,areinitiallyrecognisedattransactionpriceunless the
arrangementconstitutesa financingtransaction,wherethe debt instrumentis measuredat the present
valueofthefuturereceiptsdiscountedatamarketrateofinterest.Financialliabilitiesclassified as
payable within one year are not amortised.
```
```
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
```
```
Tradecreditorsareobligationstopayforgoodsorservicesthathavebeenacquiredinthe ordinary
courseof operationfromsuppliers.Amountpayableare classifiedas currentliabilitiesif paymentis due
withinoneyearorless.Ifnot,theyarepresentedasnon-currentliabilities.Tradecreditors are
recognisedinitiallyat transactionriceand subsequentlymeasuredat amortisedcostusingthe effective
interest method.
```
## **`Grant income`**
```
Governmentandlocalauthoritygrantsandsubsidiesarerecognisedatthefairvalueforthe asset
receivedor receivablewhenthereis reasonableassurancethatthe grantand subsidyconditionswill be
met and the grants and subsidies will be received.
```
```
continued...
```
```
Page 20
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
|**`3.`**
**`DONATIONS AND LEGACIES`**
`Donation - Aldenham Parish Council`
`Donation - John Apthorp`
`Other donations`
**`4.`**
**`INVESTMENT INCOME`**
`Deposit account interest`
`Investment portfolio interest and dividends`
**`5.`**
**`INCOME FROM CHARITABLE ACTIVITIES`**
**`Activity`**
`Hire income and recharges`
`Concerts and stage performance`
`Sales - Box office`
`Concerts and stage performance`
`Local authority grants`
`Concerts and stage performance`
`Hire income and recharges`
`Hire of centre`
`Sales - Box office`
`Educational programmes`
`Course income`
`Educational programmes`
`Art exhibition and foyer`
`sales`
`Art exhibition`|||**`31.3.25`**
**`£`**
`-`
`-`
`4,205`
`4,205`|||**`31.3.24`**
**`£`**
`20,000`
`50,000`
`4,943`
`74,943`|
|---|---|---|---|---|---|---|
|||**`31.3.24`**|||**`31.3.23`**||
|||`£`|||`£`||
|||`3,033`|||`380`||
|||`297`|||`168`||
||||||||
|||`3,330`|||`548`||
||||||||
|||**`31.3.25`**
**`£`**
`19,260`
`715,681`
`121,000`
`203,370`
`69,532`
`12,975`
`7,704`
`1,149,522`|||**`31.3.24`**
**`£`**
`16,715`
`657,173`
`121,000`
`200,722`
`65,127`
`14,189`
`8,418`
`1,083,344`||
||||||||
```
continued...
```
```
Page 21
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`6. CHARITABLE ACTIVITIES COSTS`**
|||**`Support`**||
|---|---|---|---|
||**`Direct`**|**`and`**||
||**`costs`**|**`Governance`**||
||**`(note 7)`**|**`costs`**|**`Total`**|
|**`31 March 2025`**|**`£`**|**`£`**|**`£`**|
|`Concerts and stage performance`|`877,945`|`-`|`877,945`|
|`Hire of centre`|`108,336`|`-`|`108,336`|
|`Educational programmes`|`42,700`|`-`|`42,700`|
|`Art exhibition`|`2,394`|`-`|`2,394`|
|`Auditors' remuneration (Governance`
`costs)`|`-`|`6,800`|`6,800`|
|`Investment charges (Support costs)`|`-`|`1,631`|`1,631`|
|||||
||`1,031,375`|`8,431`|`1,039,806`|
|||||
|||||
|||**`Support`**||
||**`Direct`**|**`and`**||
||**`costs`**|**`Governance`**||
||**`(note 7)`**|**`costs`**|**`Total`**|
|**`31 March 2024`**|**`£`**|**`£`**|**`£`**|
|`Concerts and stage performance`|`825,945`|`-`|`825,945`|
|`Hire of centre`|`112,455`|`-`|`112,455`|
|`Educational programmes`|`42,626`|`-`|`42,626`|
|`Art exhibition`|`2,798`|`-`|`2,798`|
|`Auditors' remuneration (Governance`
`costs)`|`-`|`6,000`|`6,000`|
|`Investment charges (Support costs)`|`-`|`1,514`|`1,514`|
|||||
||`983,824`|`7,514`|`991,338`|
|||||
```
continued...
```
```
Page 22
```
## **`THE RADLETT CENTRE TRUST`**
## **`Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025`**
## **`7. DIRECT COSTS OF CHARITABLE ACTIVITIES`**
||**`31.3.2025`**|**`31.3.2024`**|
|---|---|---|
||**`£`**|**`£`**|
|`Staff costs`|`280,407`|`278,912`|
|`Rates and water`|`1,170`|`1,104`|
|`Insurance`|`12,057`|`14,574`|
|`Light and heat`|`17,971`|`27,727`|
|`Telephone`|`3,646`|`3,434`|
|`Building enhancement, repairs and maintenance`|`37,330`|`43,444`|
|`Advertising`|`26,565`|`27,673`|
|`Sundries`|`33,303`|`24,927`|
|`Event and concert costs`|`45,110`|`34,750`|
|`Artist fees`|`496,237`|`457,029`|
|`Tutors' fees`|`5,312`|`4,506`|
|`Credit card charges`|`10,114`|`9,267`|
|`Hospitality`|`1,985`|`2,593`|
|`Transport`|`7`|`52`|
|`Postage and stationery`|`3,039`|`2,657`|
|`Office services`|`21,568`|`21,330`|
|`Office consumables`|`234`|`515`|
|`Staff training and recruitment`|`2,252`|`2,705`|
|`Depreciation`|`25,818`|`25,149`|
|`Loss on disposal of tangible fixed assets`|`7,250`|`1,476`|
||||
||`1,031,375`|`983,824`|
||||
## **`8. SUPPORT COSTS`**
||`Support`|`Governance`||
|---|---|---|---|
||`costs`|`costs`|`Total`|
||`£`|`£`|`£`|
|`Investment charges`|`1,631`|`-`|`1,631`|
|`Auditors' remuneration`|`-`|`6,800`|`6,800`|
|||||
||`1,631`|`6,800`|`8,431`|
|||||
|||||
```
continued...
```
```
Page 23
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`9. NET INCOME/(EXPENDITURE)`**
```
Net income/(expenditure) is stated after charging/(crediting):
```
|`Depreciation - owned assets`
`Deficit on disposal of fixed assets`
**`10.`**
**`AUDITORS' REMUNERATION`**
`Fees payable to the charity's auditors for the audit of the charity's`
`financial statements`|**`31.3.25`**
**`£`**
`25,819`
`7,250`
**`31.3.25`**
**`£`**
`6,800`|**`31.3.24`**
**`£`**
`25,148`
`1,476`|
|---|---|---|
|||**`31.3.24`**
**`£`**
`6,000`|
## **`11. TRUSTEES' REMUNERATION AND BENEFITS`**
```
There were no Trustees'remunerationor other benefitsfor the year ended 31st March 2025nor for the
year ended 31st March 2024.
```
## **`Trustees' expenses`**
```
There were no Trustees'expensespaid for the year ended 31st March 2025nor for the year ended 31st
March 2024.
```
## **`12. STAFF COSTS`**
|`Wages and salaries`
`Social security costs`
`Other pension costs`
`The average monthly number of employees during the year was as follows:`
`Administration`
`Technical`
`Operating`|**`31.3.25`**
**`£`**
`243,295`
`16,122`
`20,990`
`280,407`
**`31.3.25`**
`8`
`4`
`1`
`13`|**`31.3.24`**
**`£`**
`242,154`
`14,672`
`22,086`|**`31.3.24`**
**`£`**
`242,154`
`14,672`
`22,086`|
|---|---|---|---|
|||`278,912`||
||||**`31.3.24`**
`8`
`5`
`1`
`14`|
```
continued...
```
```
Page 24
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025`**
## **`12. STAFF COSTS - continued`**
```
Thenumberofemployeeswhoseemployeebenefits(excludingemployerpensioncosts) exceeded
£60,000 was:
```
|||**`31.3.25`**|**`31.3.24`**|
|---|---|---|---|
|`£60,001`|`- £70,000`|`1`|`1`|
```
The average number of full time equivalent employees for the year was as follows:
```
||**`31.3.25`**|**`31.3.24`**
`5`
`3`
`1`
`9`|
|---|---|---|
|`Administration`|`5`||
|`Technical`|`3`||
|`Operating`|`1`||
||||
||`9`||
||||
||||
||||
|**`Key management personnel`**|||
```
Thekeymanagementpersonnelofthetrustcomprisethetrusteesandtheatremanager.The total
amountofemployeebenefits(includingemployerpensioncontributions)receivedby key
management personnel for their services to the trust was £85,189 (2024: £84,837).
```
## **`13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES`**
|**`INCOME AND ENDOWMENTS FROM`**
`Donations and legacies`
**`Charitable activities`**
`Concerts and stage performance`
`Hire of centre`
`Educational programmes`
`Art exhibition`
`Investment income`
**`Total`**
**`EXPENDITURE ON`**
**`Charitable activities`**
`Concerts and stage performance`|**`Unrestricted`**
**`funds`**
**`£`**
`4,943`
`794,888`
`200,722`
`79,316`
`8,418`
`3,335`
`1,091,622`
`825,945`|**`Restricted`**
**`funds`**
**`£`**
`70,000`
`-`
`-`
`-`
`-`
`-`
`70,000`
`-`|**`Total`**
**`funds`**
**`£`**
`74,943`
`794,888`
`200,722`
`79,316`
`8,418`
`3,335`|
|---|---|---|---|
||||`1,161,622`|
||||`825,945`|
```
continued...
```
```
Page 25
```
## **`THE RADLETT CENTRE TRUST`**
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`13. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued`**
|`Hire of centre`
`Educational programmes`
`Art exhibition`
`Governance costs`
`Other`
**`Total`**
`Net gains on investments`
**`NET INCOME`**
**`Transfers between funds`**
**`Net movement in funds`**
**`RECONCILIATION OF FUNDS`**
`Total funds brought forward`
**`TOTAL FUNDS CARRIED FORWARD`**|**`Unrestricted`**
**`funds`**
**`£`**
`112,455`
`42,626`
`2,798`
`6,000`
`1,514`
`991,338`
`8,755`
`109,039`
`70,000`
`179,039`
`704,827`
`883,866`|**`Restricted`**
**`funds`**
**`£`**
`-`
`-`
`-`
`-`
`-`
`-`
`-`
`70,000`
`(70,000)`
`-`
`106,000`
`106,000`|**`Total`**
**`funds`**
**`£`**
`112,455`
`42,626`
`2,798`
`6,000`
`1,514`|
|---|---|---|---|
||||`991,338`|
||||`8,755`|
||||`179,039`
`-`|
||||`179,039`
`810,827`|
||||`989,866`|
```
continued...
```
```
Page 26
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`14. TANGIBLE FIXED ASSETS`**
|**`Auditorium`**
**`seating`**
**`£`**
**`COST`**
`At 1 April 2024`
`101,111`
`Additions`
`-`
`Disposals`
`-`
`At 31 March 2025`
`101,111`
**`DEPRECIATION`**
`At 1 April 2024`
`4,044`
`Charge for year`
`4,044`
`Eliminated on disposal`
`-`
`At 31 March 2025`
`8,088`
**`NET BOOK VALUE`**
`At 31 March 2025`
`93,023`
`At 31 March 2024`
`97,067`|**`Sound and`**
**`light`**
**`equipment`**
**`£`**
`202,022`
`25,877`
`(136,102)`
`91,797`
`172,469`
`10,294`
`(132,138)`
`50,625`
`41,172`
`29,553`|**`Fixtures`**
**`and`**
**`fittings`**
**`£`**
`307,528`
`5,600`
`(98,147)`
`214,981`
`252,664`
`11,481`
`(94,861)`
`169,284`
`45,697`
`54,864`|**`Totals`**
**`£`**
`610,661`
`31,477`
`(234,249)`
`407,889`
`429,177`
`25,819`
`(226,999)`
`227,997`
`179,892`
`181,484`|
|---|---|---|---|
```
continued...
```
```
Page 27
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`15. FIXED ASSET INVESTMENTS`**
|**`FIXED ASSET INVESTMENTS`**||
|---|---|
||**`Listed`**|
||**`investments`**|
||**`£`**|
|**`MARKET VALUE`**||
|`At 1 April 2024`|`100,658`|
|`Additions`|`20,195`|
|`Disposals`|`(20,652)`|
|`At 31 March 2025`|`100,201`|
|**`PROVISIONS`**||
|`At 1 April 2024`|`(9,549)`|
|`Provision for year`|`(2,087)`|
|`Eliminated on disposal`|`110`|
|`At 31 March 2025`|`(11,526)`|
|**`NET BOOK VALUE`**||
|`At 31 March 2025`|`111,727`|
|`At 31 March 2024`|`110,207`|
```
There were no investment assets outside the UK.
```
|**`Net gain / (loss) on investments`**|||
|---|---|---|
||**`31.3.25`**|**`31.3.24`**|
||**`£`**|**`£`**|
|`Realised gain on sale of shares`|`590`|`44`|
|`Unrealised gain on revaluation to market value`|`2,087`|`8,711`|
||||
||`2,677`|`8,755`|
||||
```
continued...
```
```
Page 28
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
|**`16.`**
**`STOCKS`**
`Stocks`
**`17.`**
**`DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade debtors`
`Other debtors`
`VAT`
`Prepayments and accrued income`
**`18.`**
**`CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR`**
`Trade creditors`
`Social security and other taxes`
`Other creditors and accruals`
`Deferred income`|**`31.3.25`**
**`£`**
`502`
**`31.3.25`**
**`£`**
`10,304`
`13,346`
`8,561`
`14,407`
`46,618`
**`31.3.25`**
**`£`**
`9,373`
`4,755`
`35,457`
`151,892`
`201,477`|**`31.3.24`**
**`£`**
`263`
**`31.3.24`**
**`£`**
`22,604`
`10,172`
`3,561`
`14,246`
`50,583`
**`31.3.24`**
**`£`**
`24,144`
`4,512`
`34,033`
`177,431`|**`31.3.24`**
**`£`**
`263`
**`31.3.24`**
**`£`**
`22,604`
`10,172`
`3,561`
`14,246`|
|---|---|---|---|
||||`50,583`|
|||`240,120`||
```
continued...
```
```
Page 29
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025`**
## **`18. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR - continued`**
## **`DEFERRED INCOME`**
||**`31.3.25`**|**`31.3.24`**|
|---|---|---|
||`£`|`£`|
|`Deferred income at 1st January`|`177,431`|`178,464`|
|`Resources deferred in the period`|`151,892`|`177,431`|
|`Amount released from previous periods`|`(177,431)`|`(178,464)`|
||||
|`Deferred income at 31st December`|`151,892`|`177,431`|
||||
||||
|`Deferred income comprises the following:`|||
|`Room hire`|`16,820`|`19,480`|
|`Box office sales`|`129,115`|`149,518`|
|`Workshops`|`4,582`|`4,100`|
|`Mast rental`|`375`|`3,333`|
|`Toilet scheme`|`1,000`|`1,000`|
||||
||`151,892`|`177,431`|
||||
## **`19. MOVEMENT IN FUNDS`**
|**`Unrestricted funds`**
`General fund`
`Building Fund`
**`Restricted funds`**
`Building fund`
**`TOTAL FUNDS`**|**`At 1.4.24`**
**`£`**
`617,767`
`266,099`
`883,866`
`106,000`
`989,866`|**`Net`**
**`movement`**
**`At`**
**`in funds`**
**`31.3.25`**
**`£`**
**`£`**
`129,267`
`747,034`
`-`
`266,099`
`129,267`
`1,013,133`
`-`
`106,000`
`129,267`
`1,119,133`|**`At`**
**`31.3.25`**
**`£`**
`747,034`
`266,099`|
|---|---|---|---|
```
continued...
```
```
Page 30
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued FOR THE YEAR ENDED 31 MARCH 2025`**
## **`19. MOVEMENT IN FUNDS - continued`**
```
Net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`TOTAL FUNDS`**
**`Comparatives for movement in funds`**
**`Unrestricted funds`**
`General fund`
`Building Fund`
**`Restricted funds`**
`Auditorium Seating Fund`
`Building fund`
**`TOTAL FUNDS`**|**`Incoming`**
**`resources`**
**`£`**
`1,166,396`
`1,166,396`
**`At 1.4.23`**
**`£`**
`438,728`
`266,099`
`704,827`
`-`
`106,000`
`106,000`
`810,827`|**`Resources`**
**`expended`**
**`£`**
`(1,039,806 )`
`(1,039,806 )`
**`Net`**
**`movement`**
**`in funds`**
**`£`**
`109,039`
`-`
`109,039`
`70,000`
`-`
`70,000`
`179,039`||**`Gains and`**
**`losses`**
**`£`**
`2,677`
`2,677`
**`Transfers`**
**`between`**
**`funds`**
**`£`**
`70,000`
`-`
`70,000`
`(70,000)`
`-`
`(70,000)`
`-`|**`Movement`**
**`in funds`**
**`£`**
`129,267`
`129,267`
**`At`**
**`31.3.24`**
**`£`**
`617,767`
`266,099`
`883,866`
`-`
`106,000`
`106,000`
`989,866`|
|---|---|---|---|---|---|
|||||||
|||||||
```
continued...
```
```
Page 31
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`19. MOVEMENT IN FUNDS - continued`**
```
Comparative net movement in funds, included in the above are as follows:
```
|**`Unrestricted funds`**
`General fund`
**`Restricted funds`**
`Auditorium Seating Fund`
**`TOTAL FUNDS`**|**`Incoming`**
**`resources`**
**`£`**
`1,091,622`
`70,000`
`1,161,622`|**`Resources`**
**`expended`**
**`£`**
`(991,338)`
`-`
`(991,338)`|**`Gains and`**
**`losses`**
**`£`**
`8,755`
`-`
`8,755`|**`Movement`**
**`in funds`**
**`£`**
`109,039`
`70,000`
`179,039`|
|---|---|---|---|---|
```
Buildingfund:Afundtofinancefuturelifecycleandenhancementworksinaccordancewith the
agreement between Aldenham Parish Council and The Radlett Centre.
```
```
Auditoriumseatingfund:Duringthe yearthe companyreceiveddonationsand grantstotalling £70,000
for refurbishmentof the auditoriumseating.This fund has been fully utilisedso has been transferred to
the general fund.
```
## **`20. RELATED PARTY DISCLOSURES`**
```
Includedin incomingresourcesare subsidiesreceivedfrom AldenhamParishCouncilof £120,000 (2024:
£140,000).
```
```
Duringtheyear,TheRadlettCentreTrustchargedAldenhamParishCouncil£12,346(2024:£7,412) for
rent and maintenance. £41,974 (2024: £52,244) was payable to Aldenham Parish Council for utilities.
```
```
IncludedwithintradedebtorsfallingduewithinoneyearisanamountduefromAldenham Parish
Council of £13,346 (2024: £11,388).
```
```
The Council has appointed two trustees to the Company's Board of Trustees.
```
```
continued...
```
```
Page 32
```
```
THE RADLETT CENTRE TRUST
```
## **`Notes to the Financial Statements - continued`**
## **`FOR THE YEAR ENDED 31 MARCH 2025`**
## **`21. PENSION COSTS`**
```
TheCompanyisaparticipatingemployerintheHertfordshirePensionFund,adefinedbenefit scheme
whichguaranteestoprovidebenefitsbasedonmembers'finalpay.Thecontributionsare determined
by a qualified actuary on the basis of triennial valuations using the projected unit credit method.
```
```
Themostrecentformalactuarialreviewoftheschemewhichwasavailableatthedatethat these
accountsweresignedwasat31March2022.Themarketvalueofthescheme'sassetsat31 March
2022was£921,000.Themostrecentpresentvalueofthescheme'sliabilitieswas£699,000.The latest
estimateofthescheme'sassetsrevealsthatthepresentvalueoftheCompany'sobligationswas less
thanthe fairvalueof the scheme'sassets.However,the resultingsurplusof £222,000is not recognised
asadefinedbenefitschemeassetastheCompanyisnotabletorecoverthesurpluseither through
reduced contributions in the future or through refunds from the scheme.
```
```
Theassumptionsunderlyingthevaluationforthecurrentandpreviousyearareforapension increase
rateof 2.7%,salaryincreaserateof 3.2%,longtermmortalityimprovementof 1.5%and an investment
return of 3.6%.
```
```
Thepensionchargeinthestatementoffinancialactivitiesincludepaymentstothedefined benefit
pensionfundof£17,867(2024:£18,805)andpaymentstothedefinedcontributionschemeof £3,123
(2024: £3,281).
```
```
Page 33
```