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2025-08-31-accounts

Company registration number 03573945 (England and Wales) Charity registration number 1070142 (England and Wales)

RIDING LIGHTS

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

RIDING LIGHTS

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr A J Bradley
Mr O Brown
Mr S M H Cavanagh
Mr A P N Dunn
Mr J C Emmett
Mr M J Hands
Mr D J Lampitt
Miss S Maddison
Mrs Y P L Morley-Chisholm
Mr J S Harmston (Appointed 2 January 2025)
Mr I Oyelumade (Appointed 2 January 2025)
Members Mrs R Jack
Mr R Mapletoft
Prof. B Quash
Mr M Rance
Mr J M W Somerville
Secretary Mr A P N Dunn
Charity number 1070142
Company number 03573945
Registered office Friargate Theatre
Lower Friargate
York
UK
YO1 9SL
Independent examiner David Walker FCA
124 Acomb Road
York
YO24 4EY

RIDING LIGHTS

CONTENTS

Page
Trustees' report 1 - 8
Independent examiner's report 9
Statement of financial activities 10
Balance sheet 11
Notes to the financial statements 12 - 24

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees present their annual report and financial statements for the year ended 31 August 2025.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's memorandum and articles of association dated 2 June 1998 as amended July 2019, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016)

Objectives and activities

The charity's objects are :

-to advance the education, public understanding and appreciation of the dramatic arts.

-to teach, train and encourage young artists and other members of the public in the dramatic arts.

-to explore, principally through the dramatic arts, the relevance of the Christian faith to contemporary life and its potential to effect positive change.

The policies adopted in furtherance of these objects are the staging of performances and workshops at the Friargate Theatre, the annual summer school and working within the Christian Church, schools and other areas of the community presenting high quality drama and direct teaching. There has been no change in these during the year.

The charity has the general aim of providing and presenting performances which are of educational, cultural and religious value to the community.

The main objectives for the year continued to be the promotion and fostering of artistic knowledge and appreciation of the dramatic arts, and the exploration of the relevance of the Christian faith to contemporary life and its potential to effect positive change.

Strategies for achieving aims and objectives

Strategies for achieving the objectives of the charity continues to be the staging of performances and workshops at the Friargate Theatre, the annual summer school and working within the Christian Church, schools and other areas of the community presenting high quality drama and direct teaching. Performance space is also hired out to local performers, both amateur and professional, as well as to touring artists

Public benefit

The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.

The trustees consider that the charity is a public benefit entity.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Activities

Details of the significant activities of the charity during the year are as follows:

Riding Lights Productions

Cups On A String

A UK tour of 26 dates.

Supported by Transforming Lives For Good, attended by 1,200 audience members.

A Christmas Cracker

Yorkshire tour of schools and churches. Toured to 23 venues and a limited run at Friargate Theatre.

Riding Lights Podcasts

A new podcast dramatizing the Easter story over 8 episodes.

His Last Report

A Co-production with York Theatre Royal.

Riding Lights Roughshod

The charity's Roughshod Company, which is primarily staffed by volunteer actors and actresses offering performances at no charge, did not operate during the year.

Participatory Work

Riding Lights Education works with both young people and adults to offer theatrical opportunities for the York community.

Acting Up!

A company for young people with additional needs, continues for 18-30 year olds. The participants spent the programme for the year developing their performances skills, culminating in a full scale production staged at Friargate Theatre.

A collaboration between Riding Lights and York Explore – History Misbehaves, digital production.

Summer Theatre School

Riding Lights Summer Theatre School returned to a full scale summer school in 2025, at Giggleswick School. Attended by 50 participants.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Friargate Theatre

Work has continued to refresh Riding Lights' home with ongoing fabric improvements. Friargate continues to be more core to the work of the company and has hosted a wider range of events this year, including:

Aesthetica Film Festival .

We continue to host Aesthetica film festival as part of Friargate’s programme.

Right Here Right Now!

Riding Lights’ monthly improvised comedy night, with a loyal audience attending throughout the year.

Festival of Ideas.

Friargate hosted events for The York Festival of Ideas: Clay Fever.

Season.

Presenting professional work across Autumn and Spring seasons, presenting music, drama, family work, comedy, and musicals.

MAKE

Riding Lights launched it’s new artist development program of MAKE, incorporating workshops, courses, retreats, artist support, and membership.

Volunteers

Use of Volunteers

Riding Lights is widely supported by many people across the country who help by providing a wide range of valuable resources, particularly when Riding Lights visits local communities. We are particularly grateful for the generous provision of accommodation and hospitality made to our acting companies and for those who organise performances of our work in their area.

Riding Lights has been very pleased to be able to tour this year but it is becoming increasingly difficult to find hosts who are able to offer hospitality and accommodation to actors.

The educational department also benefits from the assistance of volunteers, who provide valuable experience to those individuals taking part.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Achievements and performance

Significant activities and achievements against objectives

Riding Lights Productions

Year 2024/25 was a transitional year for Riding Lights, with the recruitment of 2 new CEO’s Paul Birch and Oliver Brown, in August 2024.

Cups On A String a project co-funded with Transforming Lives For Good was created to tour the UK. Written by Bridget Foreman, directed by David Gilbert, the show focused on the relationship between a mentor and a school child at risk of exclusion. It highlighted the positive impact of early intervention for young children who struggle in mainstream education. The tour played to 26 venues, and attracted an audience of 1200.

Christmas 2024 A Christmas Cracker was remounted for a tour of churches and schools ahead of a limited run at Friargate Theatre. The show played to around 2000 young people, bringing the story of the nativity to audiences in an accessible way.

We worked with York Theatre Royal to produce a large scale piece of new writing with a community cast of 100, His Last Report. The show played to around 12,000 in a limited run at York Theatre Royal.

We also worked in collaboration with York Explore for a community audio project – History Misbehaves.

Work continued on Revolving Doors, working with Anchor to create a short film to be presented within prisons, to be shown at Christmas 2025 with an audience reach of approximately 60,000 prisoners

At Easter a new digital product – The Passion was created, an 8 episode podcast, retelling the story of holy week. This was listened to by over 6,500 people, and reached number 17 in the UK podcast charts for religion.

We brought back Summer Theatre Week following a year of absence to Giggleswick School. 50 participants joined the week where 5 shows were produced and performed.

Riding Lights, from its home at Friargate launched its new artist development scheme, MAKE, providing opportunities for local artists to develop skills and to have space to make theatre. MAKE incorporates courses, workshops, residential retreats, subsidised rehearsal space and access to the create team at Riding Lights. As part of the MAKE scheme a new membership, which gained 45 new members was launched.

Running a weekly theatre project, Acting Up, for learning-disabled adults, with performance of a devised pantomime.

The new executive leadership team have launched a number of new initiatives to find new ways of creating and funding work to ensure the company’s sustainability for the future.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Financial review

Riding Lights aims to cover all its costs through a mixture of the regular donated income received from Membership and irregular income from one-off donations as well as earned income from projects and productions. The Company aims to ensure that the core costs of operating Riding Lights (Administration, Friargate Theatre, Company Vehicles, Staff etc.) are broadly covered by regular and one-off giving. Any shortfall is met by profit from projects and productions. Any surplus is intended principally to support new productions, which is essential if the Company is to invest in and remain creatively active. Riding Lights costs are kept to a minimum while also ensuring that staff are paid, as a bare minimum, in accordance with the recommendations of the Living Wage Foundation to which the company is affiliated.

As at 31 August 2025 unrestricted reserves stood at £361,445 (2024 £344,127). of which £208,892 (2024 £216,096 ) is represented by the Friargate Theatre property.

Regular income has seen a steady reduction in membership subscriptions, largely from elderly supporters no longer able to make a regular contribution. Work is being taken to support the building of new members through new work and attracting new audiences.

Irregular income including external funding, grants, donations and partnerships is crucial as a support for the whole organisation.

The Board's current strategy is to:

Reserves policy

It is the policy of the charity that unrestricted funds which have not been designated for a specific use should be maintained at a level equivalent to six month’s fixed costs expenditure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding, they will be able to continue the charity’s current activities while consideration is given to ways in which additional funds may be raised.

After falling below this level of reserves in late 2024, the action taken has seen a movement towards being able to work within the policy. It is hoped that by the 2025/2026 financial years this will be achieved.

Investment policy

The company's memorandum and articles of association give the charity the power to make any investment which the trustees think fit. At the present time no such investments are held other than bank deposits.

Major risks

The trustees have assessed the major risks to which the charity is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

The trustees actively review the major risks which the charity faces on a regular basis and believe that maintaining reserves at current levels, combined with an annual review of the controls over key financial systems, will provide sufficient resources in the event of adverse conditions. The trustees have also examined other operational and business risks faced by the charity and confirm that they have established systems to mitigate the significant risks.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Plans for future periods

The company has costed projects for the next three years, subject to review.

Structure, governance and management

The charity was registered with the Charity Commission on 23rd June 1998 charity registration number 1070142 and is constituted as a company limited by guarantee, company registration number 03573945 (England and Wales) and is therefore governed by its memorandum and articles of association dated 2nd June 1998 as amended on 23rd July 2019.

The company began to operate on 1 November 1998 when the assets and liabilities of Riding Lights Trust (a registered charity) and Riding Lights Theatre Company Limited with the exception of its stock of merchandise were transferred to the company. The Riding Lights Theatre Company Limited then changed its name to Riding Lights (Trading) Limited. Riding Lights (Trading) Limited was dissolved on 16 December 2008.

The principal office and registered office address is:

Friargate Theatre Lower Friargate York YO19 9SL

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr A J Bradley Mr O Brown Mr S M H Cavanagh Mr A P N Dunn Mr J C Emmett Mr M J Hands Mr D J Lampitt Miss S Maddison Mrs Y P L Morley-Chisholm Mr J S Harmston (Appointed 2 January 2025) Mr I Oyelumade (Appointed 2 January 2025)

Recruitment and appointment of trustees

All directors of the company are also trustees of the charity and there are no other trustees. The Board has the power to appoint additional trustees as it considers fit to do so.

In accordance with the provisions of the company's Articles of Association at each AGM one third of the board members shall retire by rotation, any newly appointed trustees shall hold office until the next Annual General Meeting and shall not be taken into account in determining the board members who are to retire by rotation at the meeting. If not reappointed at such Annual General Meeting, they shall vacate office at the meeting thereof.

In accordance with these provisions Martin Hands, Sally Maddison and Oliver Brown will retire from office by rotation at the next AGM and, being eligible, offer themselves for re-election.

None of the trustees have any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.

The trustees have complied with the duty imposed upon them by Section 4 of the Charities Act 2011 to have due regard to guidance published by the Charity Commission including the guidance issued in respect of public benefit.

Qualifying third party indemnity provisions

Subject to the provisions of the Companies Act 2006, but without prejudice to any indemnity to which a board member may otherwise be entitled, every board member or other officer or auditor of the Charity shall be indemnified out of the assets of the Charity against any liability incurred by him in defending any proceedings, whether civil or criminal, in which judgement is given in his favour or in which he is acquitted or in connection with any application in which relief is granted to him by the court from liability for negligence, default, breach of duty or breach of trust in relation to the affairs of the Charity, and against all costs, charges, losses, expenses or liabilities incurred by him in the execution and discharge of his duties or in relation thereto.

Organisational structure

The trustees meet regularly to manage the charity's affairs and delegate the day-to-day running of the charity's activities to its executive and artistic directors and administrative staff.

RIDING LIGHTS

TRUSTEES' REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Induction and training of trustees

Riding Lights is a theatre company with a Christian ethos, and it is important that Trustees who join the Board share the Company's beliefs and objectives or at least understand and sympathise with its ethos. The Chair, and a majority of trustees excluding the Chair, should be practising Christians.

Potential new Trustees are identified from amongst the long-term, active supporters of Riding Lights and from those offering relevant skills and experience. The Board seeks to maintain a balance of knowledge and experience relevant to particular aspects of the Company's activities, for example: Theatre Production and Management, Finance, Personnel, Education, etc.

Potential Trustees are invited by the Chairman to think and pray about their possible deeper involvement with the Company. Those who accept are invited to attend a Board meeting to see what goes on and how the Board operates. Once they have formally decided to accept the invitation, they are encouraged to attend as many of the meetings as possible.

Inevitably not everyone can attend every meeting. Meeting dates are agreed up to a year in advance, with some six meetings each year. Minutes and review notes are circulated to all members of the Board on a regular basis.

There is no formal training programme for new trustees, but they are all selected from individuals who have supported or worked with Riding Lights in different capacities in the past, or who bring relevant skills and are familiar with the broad scope of the company’s work. Initially they work alongside more experienced members of the Board on sub-committees or in exploring specific issues.

Remuneration policy

Riding Lights ensure that staff are paid, as a bare minimum, in accordance with the recommendations of the Living Wage Foundation to which the company is affiliated.

Promoting the success of the company

The charity continues the staging of performances and workshops at the Friargate Theatre, the annual summer school and working within the Christian Church, schools and other areas of the community presenting high quality drama and direct teaching.

The trustees' report was approved by the Board of Trustees.

Mr O Brown Director & Trustee

18 March 2026

RIDING LIGHTS

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF RIDING LIGHTS

I report to the trustees on my examination of the financial statements of Riding Lights (the charity) for the year ended 31 August 2025.

Responsibilities and basis of report

As the trustees of the charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006.

Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the charity’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.

Independent examiner's statement

Since the charity’s gross income exceeded £250,000, the independent examiner must be a member of a body listed in section 145 of the Charities Act 2011. I confirm that I am qualified to undertake the examination because I am a member of The Institute of Chartered Accountants in England and Wales, 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 that in any material respect:

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 financial statements to be reached.

David Walker FCA

124 Acomb Road York YO24 4EY 18 March 2026

RIDING LIGHTS

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 31 AUGUST 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and legacies
2
352,671
-
Charitable activities
3
90,625
-
Other trading activities
4
11,204
-
Investments
5
942
-
Total income
455,442
-
Expenditure on:
Raising funds
6
11,362
-
Charitable activities
7
471,969
-
Total expenditure
483,331
-
Net expenditure
(27,889)
-
Transfers between
funds
13
45,207
(45,207)
Net movement in
funds
9
17,318
(45,207)
Reconciliation of funds:
Fund balances at 1 September
2024
344,127
76,067
Fund balances at 31 August
2025
361,445
30,860		 Total
Unrestricted
Restricted
funds
funds
2025
2024
2024
£
£
£
352,671
168,118
75,440
90,625
85,435
-
11,204
6,040
-
942
2,403
-
455,442
261,996
75,440
11,362
9,444
-
471,969
411,992
7,209
483,331
421,436
7,209
(27,889)
(159,440)
68,231
-
25,415
(25,415)
(27,889)
(134,025)
42,816
420,194
478,152
33,251
392,305
344,127
76,067		 Total
2024
£
243,558
85,435
6,040
2,403
337,436
9,444
419,201
428,645
(91,209)
-
(91,209)
511,403
420,194

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.

RIDING LIGHTS

BALANCE SHEET

AS AT 31 AUGUST 2025

Notes
Fixed assets
Tangible assets
14
Current assets
Stocks
15
Debtors
16
Cash at bank and in hand
Creditors: amounts falling due within
one year
Taxation and social security
Other creditors
17
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
19
Unrestricted funds		 2025
£
500
89,554
91,951
182,005
2,342
9,759
12,101		 £
222,401
169,904
392,305
30,860
361,445
392,305		 2024
£
500
22,064
187,735
210,299
2,725
22,666
25,391		 £
235,286
184,908
420,194
76,067
344,127
420,194

The company is entitled to the exemption from the audit requirement contained in section 477 of the Companies Act 2006, for the year ended 31 August 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 18 March 2026

Mr O Brown Mr J C Emmett Trustee Trustee Company Registration No. 03573945

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

Charity information

Riding Lights is a private company limited by guarantee incorporated in England and Wales. The registered office is Friargate Theatre, Lower Friargate, York, YO1 9SL, UK.

1.1 Basis of preparation

The financial statements have been prepared in accordance with the charity's governing document dated 2 June 1998, the Companies Act 2006 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)” (as amended for accounting periods commencing from 1 January 2016). The charity is a Public Benefit Entity as defined by FRS 102.

The charity has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

The company has a number of restricted income funds to account for situations where a donor requires that a donation must be spent on a particular expense or where funds have been raised for a specific purpose.

Where monies are received as a contribution towards the general costs of a specific performance or project, the money is held as restricted funds until such a time that the nominated performance or project has finished. When the performance or project has finished the monies are transferred into unrestricted funds.

All other income funds are unrestricted unless designated by the trustees.

Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.

1.4 Income

Income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant which specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

Incoming resources from charitable activities comprises income from ticket sales, memberships, theatrical services and hire of theatre space. Income is recognised on a receivable basis.

1.5 Expenditure

All expenditure is accounted for on an accruals basis.

Grants payable are payments made to third parties in the furtherance of the charitable objectives of the Trust.

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Freehold land and buildings Straight line over 50 years - allocated against restricted funds Lighting and equipment Straight line over 10 years Fixtures and fittings Straight line over 5 years Motor vehicles Straight line over 5 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.7 Impairment of fixed assets

At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.8 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.9 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 three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

1 Accounting policies

(Continued)

1.10 Financial instruments

The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other 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 liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable 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 balances, are initially measured at transaction price including transaction costs and are subsequently 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.

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 payments 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.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Derecognition of financial liabilities

Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13 Creditors and provisions

Creditors are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

2 Donations, Gifts and legacies

Unrestricted
Restricted
funds
funds
£
£
Donations and gifts
58,721
-
Legacies receivable
2,120
-
Gift Aid & Theatre Tax Relief
162,953
-
Memberships
128,877
-
352,671
-
For the year ended 31 August 2024
168,118
75,440
Donations and gifts
Simple Innovate
3,500
-
Transforming Lives for Good
27,263
-
P Davis
3,000
-
B Burbridge
-
-
M & J Dunn
-
-
York CVS
-
-
Dr Bayly
-
-
PCC of St Michael Le Belfrey
3,000
-
A Bryan
-
-
Bible Society
-
-
Other
21,958
-
58,721
-		 Total
2025
£
58,721
2,120
162,953
128,877
352,671
3,500
27,263
3,000
-
-
-
-
3,000
-
-
21,958
58,721		 Total
2024
£
92,823
-
28,464
122,271
243,558
243,558
-
47,847
-
1,500
2,000
7,715
2,000
3,000
5,000
4,800
18,961
92,823

Where income has been specifically restricted to a future performance by the donor, this income is not deferred but held as a restricted fund.

The company receives donations from various organisations to financially aid the educational program and the production of specific performances. Material & selected donations are shown above.

The Charity also benefits greatly from the involvement and enthusiastic support of its volunteers, details of which are given in our annual report. In accordance with the Charities SORP, the economic contribution of general volunteers is not recognised in the accounts.

‘Other’ restricted donations are made up of smaller donations.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

Donations, Gifts and legacies
Unrestricted
Restricted
funds
funds
£
£
Legacies receivable
Other
2,120
-
2,120
-
Tax reliefs and credits receivable for core activities
Gift Aid
29,847
-
Theatre Tax Relief
133,106
-
162,953
-
Charitable activities
Performances
Summer
school and
educational
projects
Total
2025
Performances
2025
2025
2024
£
£
£
£
Ticket Sales
46,973
36,310
83,283
68,246
Hire of Theatre Space
7,342
-
7,342
15,111
54,315
36,310
90,625
83,357		 Total
Total
2025
2024
£
£
(Continued)
2,120
-
2,120
-
29,847
28,464
133,106
-
162,953
28,464
Summer
school and
educational
projects
Total
2024
2024
£
£
2,078
70,324
-
15,111
2,078
85,435		 Total
Total
2025
2024
£
£
(Continued)
2,120
-
2,120
-
29,847
28,464
133,106
-
162,953
28,464
Summer
school and
educational
projects
Total
2024
2024
£
£
2,078
70,324
-
15,111
2,078
85,435
-
28,464
-
28,464
Total
2024
£
70,324
15,111
85,435

2 Donations, Gifts and legacies

3 Charitable activities

4 Income from other trading activities

Unrestricted Unrestricted
funds funds
2025 2024
£ £
Shop income 11,204 6,040

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

5
6		 Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
942
2,403
Raising funds
2025
2024
£
£
Fundraising and publicity
Staging fundraising events
180
1,637
Staff costs
5,580
5,500
Fundraising and publicity
5,760
7,137
Trading costs
Merchandise
5,602
2,307
11,362
9,444		 Income from investments
Unrestricted
Unrestricted
funds
funds
2025
2024
£
£
Interest receivable
942
2,403
Raising funds
2025
2024
£
£
Fundraising and publicity
Staging fundraising events
180
1,637
Staff costs
5,580
5,500
Fundraising and publicity
5,760
7,137
Trading costs
Merchandise
5,602
2,307
11,362
9,444
2024
£
1,637
5,500
7,137
2,307
9,444

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

7 Charitable activities

Theatrical
activities
Summer
School and
Educational
activities
2025
2025
£
£
Staff costs
72,912
8,000
Depreciation and
impairment
7,204
-
Production costs
107,753
25,718
Property and Venue costs
13,559
-
Insurance
16,567
-
Marketing & Promotion
10,019
356
Travel & Subsistence
3,582
-
Property Maintenance
7,488
-
239,084
34,074
Share of support costs (see
note 8)
163,496
5,000
Share of governance costs
(see note 8)
30,315
-
432,895
39,074
Analysis by fund
Unrestricted funds
432,895
39,074
Restricted funds
-
-		 Total
2025
Theatrical
activities
Summer
School and
Educational
activities
2024
2024
£
£
£
80,912
75,620
8,070
7,204
7,452
-
133,471
89,983
9,787
13,559
15,616
-
16,567
18,135
-
10,375
8,204
1,623
3,582
627
-
7,488
27,476
-
273,158
243,113
19,480
168,496
122,573
5,000
30,315
29,035
-
471,969
394,721
24,480
471,969
387,512
24,480
-
7,209
-		 Total
2024
£
83,690
7,452
99,770
15,616
18,135
9,827
627
27,476
262,593
127,573
29,035
419,201
411,992
7,209

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

8 Support costs allocated to activities

Staff costs
Depreciation
Storage costs
Vehicle running costs
Printing & Stationery
Postage
Computer & IT costs
Bank & Credit card charges
Telecommunications
Sundry Expenses
Governance costs
Analysed between:
Theatrical activities
Summer school and educational projects
Governance costs comprise:
Staff costs
Independent examination fees
Accountancy
Legal and professional
Planning and meeting costs
Bookkeeping
9
Net movement in funds
The net movement in funds is stated after charging/(crediting):
Fees payable for the independent examination of the charity's financial
statements
Depreciation of owned tangible fixed assets		 2025
£
116,236
5,683
16,155
5,378
2,102
4,590
10,683
1,403
2,641
3,624
30,316
198,811
193,811
5,000
198,811
2025
£
8,985
2,400
10,846
4,423
-
3,662
30,316
2025
£
2,400
12,887		 2024
£
68,159
5,467
15,975
8,899
3,157
5,163
10,007
1,294
3,813
5,640
29,034
156,608
151,608
5,000
156,608
2024
£
7,565
2,300
4,100
2,958
5,403
6,708
29,034
2024
£
2,300
12,919

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

10 Trustees

An exception has been granted by the Charity Commission allowing certain trustees & directors to receive remuneration, on a commercial basis, for the roles they perform as follows:

Mr O Brown

Salary £40,000 (2024- £6,457) Pension contributions £1,122 (2024- £nil)

Mr S Cavanagh

Salary £5,623 (2024- £7,440) Pension contributions £nil (2024- £nil)

The amount of remuneration paid to the individuals concerned is decided upon and approved by the board of trustees.

The following transactions were undertaken with Mr O Brown who was a trustee & director of the company:

Purchase of services & reimbursement of expenses £1,841 (2024 - £8,547).

Amounts owed at year end £nil (2024 - £nil).

All transactions were undertaken under normal commercial terms and rates.

Trustees of the charity are covered by a 'Directors and Officers' liability policy.

11 Employees

The average monthly number of employees during the year was:

The average monthly number of employees during the year was:
Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
10
2025
£
197,007
9,861
4,845
211,713		 2024
Number
18
2024
£
159,051
3,317
2,546
164,914

There were no employees whose annual remuneration was more than £60,000.

12 Taxation

The company is a registered charity and on the basis of these financial statements no provision has been made for corporation tax.

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

13 Transfers

Transfers between unrestricted and restricted funds represent the amounts received during the year for specific performances or projects which had been completed during the year. These restricted funds received for such projects are then deemed to be unrestricted.

14 Tangible fixed assets

Freehold land
and buildings
Lighting and
equipment
Fixtures and
fittings
£
£
£
Cost
At 1 September 2024
420,958
59,069
50,120
At 31 August 2025
420,958
59,069
50,120
Depreciation and impairment
At 1 September 2024
204,862
45,336
46,611
Depreciation charged in the year
7,204
2,106
1,677
At 31 August 2025
212,066
47,442
48,288
Carrying amount
At 31 August 2025
208,892
11,627
1,832
At 31 August 2024
216,096
13,732
3,508		 Motor
vehicles
£
17,500
17,500
15,550
1,900
17,450
50
1,950		 Total
£
547,647
547,647
312,359
12,887
325,246
222,401
235,286

An impairment review of the charity's fixed assets has been undertaken. The net realisable value of the assets concerned has been assessed by estimating their market value. Their value in use has been determined by evaluating present value of the future benefits expected to arise from the continued use of the assets concerned.

The board is satisfied that the values that have been assessed are greater than or equal to their net book values and as such no impairment adjustments are required.

15 Stocks

Stocks
2025 2024
£ £
Finished goods and goods for resale 500 500

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

16
Debtors
Amounts falling due within one year:
Trade debtors
Other debtors
Prepayments and accrued income
17
Other creditors falling due within one year
Trade creditors
Other creditors
Accruals and deferred income
18
Retirement benefit schemes
Defined contribution schemes
Charge to profit or loss in respect of defined contribution schemes		 2025
£
1,255
84,660
3,639
89,554
2025
£
2,012
1,553
6,194
9,759
2025
£
4,845		 2024
£
6,213
13,078
2,773
22,064
2024
£
10,590
4,653
7,423
22,666
2024
£
2,546

The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.

19 Restricted funds

The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.

At 1 Incoming Resources Transfers At 31 August
September resources expended 2025
2024
£ £ £ £ £
Acting Up! 1,460 - - (1,460) -
Cups on a String - Tour 35,847 - - (35,847) -
The Word Bank 35,760 - - (4,900) 30,860
Max Maxwell filming 3,000 - - (3,000) -
76,067 - - (45,207) 30,860

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025

19 Restricted funds (Continued)
Previous year: At 1 Incoming Resources **Transfers ** At 31 August
September resources expended 2024
2023
£ £ £ £ £
Permanent Home Fund 7,209 - (7,209) - -
Acting Up! 4,150 7,715 - (10,405) 1,460
Cups on a String - Tour - 47,847 - (12,000) 35,847
Pay it Forward - 3,010 - (3,010) -
The Word Bank 18,892 16,868 - - 35,760
Max Maxwell filming 3,000 - - - 3,000
33,251 75,440 (7,209) (25,415) 76,067

Donations were received on a ‘pay it forward’ basis to support performances of the Christmas play, 'A Christmas Cracker', in schools and communities.

The Word Bank is a fund for new playwriting projects created in memory of Paul Burbridge.

The Charity often receives donations and grants of a restricted nature, usually relating to specific dramatic productions. These are deemed to be restricted until expenditure in relation to the specific purpose takes place.

Transfers from restricted funds are made when funds received for restricted purposes are deemed unrestricted.

20 Unrestricted funds

The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.

At 1 Incoming Resources Transfers At 31 August Transfers At 31 August
September resources expended 2025
2024
£ £ £ £ £
General funds 344,127 455,442 (483,331) 45,207 361,445

RIDING LIGHTS

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2025

20 Unrestricted funds (Continued)
Previous year: At 1 Incoming Resources **Transfers ** At 31 August
September resources expended 2024
2023
£ £ £ £ £
General funds 478,152 261,996 (421,436) 25,415 344,127

21 Analysis of net assets between funds

Unrestricted
Restricted
funds
funds
2025
2025
£
£
At 31 August 2025:
Tangible assets
222,401
-
Current assets/(liabilities)
139,044
30,860
361,445
30,860
Unrestricted
Restricted
funds
funds
2024
2024
£
£
At 31 August 2024:
Tangible assets
235,286
-
Current assets/(liabilities)
108,841
76,067
344,127
76,067		 Total
2025
£
222,401
169,904
392,305
Total
2024
£
235,286
184,908
420,194

22 Related party transactions

Other than those reported in note 10. There were no disclosable related party transactions during the year (2024- none).