Registered number: 03656378 Charity number: 1074877 HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarant•e) CONTENTS Page Referencé and Administrative Details of the Company, its Trustees and Advisers Trustees. Report Independent Auditors, Report on tho Financlal Statements Statement of Financial Activities 10 Balance Sheet 11 Notes to the Financial Ststements 12-20
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees Greg Ripley Duggan Alexandra Marks Susan Wyatt Company registered number 03656378 Charity registered number 1074877 Registered office Eton Avenue Swiss Cottage London NW3 3EU Company secretary Ashok Shah Independent auditors Nyman Libson Paul LLP Chartered Accountants 124 Finchley Road London NW3 5JS Page 1
HAMPSTEAD THEATRE FOUNDATION IA Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the audited financial statements of the company for the 1 April 2024 to 31 March 2025. The Annual Report SeeS the purposes of both a Trustees, report and a directors, report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply wtth the current statutory requirements, the requirements of the charitable companls governing document and the provisions of the Statement of Recommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). STRUCTURE, GOVERNANCE AND MANAGEMENT a. Govemance Hampstead Theatre Foundation is both a registered charity and a company limited by guarantee having no share capital,. it is governed by its charitable objects and Memorandum and Articles of Association and is a non- profrt distributing organisation. The liability of its members in the event of the charity being wound up is limited to £1. b. Dlrectors and Trustees The directors of the charitable company are its Trustees for the purpose of charity law, and throughout this report are collectively referred to as the Trustees. The Trustees who served during Ihe year and Sin the year end are shown on page 1. None of the Trustees have any beneficial interest in the charity. The Trustees are responsible for its overall management and control, including the implementation of policies. The Board meets regularfy. They have certain legal, financial and fidiciary duties under company law and as Trustees rnust also comply with charity18W. c. Appointment of Trustees As set out in the Articles of Association, the chairman is appointed by other Trustees. New Trustees are elected to the Board by existing members. d. Trustees Induction and Training New Trustees receive the latest annual report and financial statements and all relevant infomiation relating to the charity. All trustees are kept infomed about relevant developments within the Charity sectof. e. Related Parties The charity has no subsidiaries. The charity has a close relationship with Hampstead Theatre Limited, a ompany also limited by guarantee and a registered charty, to whom it leases the theatre building. f. Rlsk Management The Trustees are responsible for the management of the risks faced by the charity. Risks are identified, assessed and controls established as appropriate. Consequently, the Trustees are satisfied that all major risks identified have been mitigated. Page 2
HAMPSTEAD THEATRE FOUNDATION IA Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 OBJECTIVES AND ACTIVITIES a. Principal Acllvlty The principal activity of the charity, as defined by its Memorandum and Articles of Association, is to promote, maintain, improve and advance education particularly by the encouragement of the arts and the provision of places and facilities for their performance, creation, display, exhibition and realisation. The charty has had regard to the guidance from the Charity Commission to ensure that its objects and activities are applied for the public benefft. Since its incorporation the charity has had responsibility for building a new theatre at Swiss Cottage, London NW3. The building was completed in February 2003. The charity now leases the building to Hampstead Theatre Limited for occupying the building and for maintaining the terms of its 99 year lease with the London Borough of Camden. Each year the Trustees review their aims and activities to ensure they continue to reflect their objectives. In carrying out this review the Trustees have considered the Charity Commission's guidance on public benefit. ACHIEVEMENTS AND PERFORMANCE . Review of leases The Foundation Continues to lease the building to Hampstead Theatre Limited and lo support its work with grants as shown in the accounts. b. Revlew of activities The detailed figures are contained in the financial statements. The charity had net outgoing resources of £131,548 (2024.. £132,332) for the year. Fixed assets, which consist of the theatre, are shown at net book value of £9,930,739 {2024.' £10,065,187). Unrestricted funds at 31 March 2025 amounted to £8,949,963 (2024.. £9,068,774). c. Reserves policy The trustees have adopted a reseNes policy to ensure that there are sufficient funds to maintain the fabric of the theatre, The free reserves at the year end, which consists of unrestricted reserves less the net book value of the unrestricted fixed assets amounted to negative £5,405 (2024= negative £2,900), which the trustees consider is acceptable. Going forward the charity will raise more funds to increase these reseNes. d. Investment Powers, Pollcy and Perforniance Under the Memorandum and Articles of Association, the charitable company has the power to invest in any way the Trustees feel appropriate. Page 3
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 PLANS FOR THE FUTURE a. Future leases Hampslead Theat Foundation will continue to lease the theatre to Hampstead Theatre Limited for the tenn of its 25 year agreement which commenced on 27 January 2003. Statement of Trustees, responsibilities The Trustees (who are also the directors of the company for the purposes of company lawl are responsible for preparing the Trustees, Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom GenerallyAc¢epted Accounting Practice). Company law requires the Trustses to prepare financial slatements for each financial year . Under company law. the Trustees must nol approve the financial ststements unless they are satisfied that they gtve a true and fair view of the state of affairs of the company and of rts incoming resources and application of resour$, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitsble accounting policies and then apply them consistently; observe the methods and principles of the Charities SORP {FRS 102}" make judgments and accounting estimates that are reasonable and prudent., state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements; prepare the financial statements on the going concern basis unless it is inappropriate to presume that the companywill Continue in business. The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the companvs transactions and disclose with reasonable accuracy at any time the financial posbtion of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. DISCLOSURE OF INFORMATION TO AUDITORS Each of the persons who are Trustees at the time when this Trustees, Report is approved has confirmed that: so far as that Trustee is aware, there is no relevant audit infomiation of which the charity's auditors are unaware, and that Trustee has taken all Ihe steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that infomiation. Page 4
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) TRUSTEES, REPORT (CONTINUED FOR THE YEAR ENDED 31 MARCH 2025 AUDITORS The auditors, Nyman Libson Paul LLP, have indicated their willingness lo continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 12 December 2025 and signed on their behalf by: Greg (Trus Page 5
HAMPSTEAD THEATRE FOUNDATION IA Company Limited by Guarantee} INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION Opinion We have audited the financial statements of Hampstead Theatre Foundation (the 'charitable company) for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet. the ststement of Cash Flows and the related notes. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparats'on is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, {United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements.. give a true and fair view of the state of the charitable companys 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 Charities Act 2011 and Companies Act 2006. Basis for oplnlon We conduded our audit in accordance with International Stsndards on Auditing (UK) (ISAS {UK)) and applicable law. Our responsibilities under those slandards are further described in the Auditors, responsibilities for the audit of the finanGial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statemenls in the United Kingdom. induding the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relating to going Goncern In auditing the financial statements, we have concluded that the Trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perforned, we have not identified any material uncertainties relating to events or conditions that, individually or collectively. may cast significant doubt on the charitable companvs ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilrties of the Trustees with respect to going concern are described in the relevant sections of this report. Page 6
HAMPSTEAD THEATRE FOUNDATION {A Company Limited by Guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION (CONTINUED) Other information The other infomiation comprises the infomiation included in the Annual Report other than the financial statements and our Auditors, Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other inforniation and, except to the extent otherwise explicitty stated in oui report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other infonnation is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be maletially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed. we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Opinion on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of the audit: the infomation given in the Trustees. Report for the financial year for which the financial statements are prepared is consistent with the financial statements. the Trustees, Report has been prepared in arxordance with applicable legal requirements. Matters on which we are requlred to report by exception In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees, Report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion.. adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us. or the financial statements are not in agreement with the accounting records and returns,. or certain disclosures of Trustees. remuneration specified by law are not made., or we have not received all the information and explanations we require for our audit., or the Trustees were not entitled to prepare the financial statements in accordance with the small companies regirne and take advantage of the small companies, exemptions in preparing the Trustees, Report and from the requirement to prepare a Strategic Report. Responsibilities of trustees As explained more fully in the Trustees, Responsibilities Statement. the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misststement, whether due to fraud or error. In preparing the financial statements, the Trustees are responsible for assessing the charitable companls ability to continue as a going Concern, disclosing, as applicable, matters related to going concern and using the going concern basis of arxounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so. Page 7
HAMPSTEAD THEATRE FOUNDATION {A Company Limited by Guarantee INDEPENDENT AUDITORS, REPORTTO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION (CONTINUED) Audltors. responsibilities for tho audlt of the flnancial statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors, Report that includes our opinion. Reasonable a55urance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UKI will always detect a material misstatement when it exists. Misstatements Can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are Capable of detecting irregularities, including fraud is detailed below.. We identify and assess the risks of material misstatement of the financial statements., whether due to fraud or error, and then design and perform audit procedures responsive to those risk, including obtaining audit evidence that is sufficient and appropriate to provide as basis for our opinion. In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and noncompliance with laws and regulations, we have.. considered the nature of the industry and sectors, control environment and business performance; made enquiries of management about their own identification and assessment of the risk and irregularities.. performed audit work over the risk of management override on controls, involving testing of journal entries and other adjustments for appropriateness and reviewing accounting estimates for bias. undertaken appropriate sample-based testing of bank transactions identified and evaluated compliance with relevant laws and regulations and made enquiries of any instances of non-compliance. discussed matters among the audit engagement team regarding how and where fraud might occur in the financial statements and potential indictors of fraud. Because of the inherent limitations of an audit, there is a risk that we wll not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. www.frc.or .uklauditorsres nsibilities. This description forms part of our Auditors, Report. Page 8
HAMPSTEAD THEATRE FOUNDATION {A Company Llmlted by Guaranto8) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF HAMPSTEAD THEATRE FOUNDATION (CONTINUED) Use of our report This report is made solely to the charitable companys members, as a body, in acGordance with Chapter 3 of Part 18 of the Companies Ad 2006. Our audit woth has been undertaken so that we might state to the charitable companrfs members those matters we are required to state to them in an Auditors, Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitabla company and its rnembers, as a body. for our audit work, for this report, or for the opinions we have forrned. Hetal Mlstry (Senlor Statutory Auditor) for and on behalf of Nyman Llbson Paul LLP Chartered Accountants statutory Auditors 124 Finchley Road London NW3 5JS Page 9
HAMPSTEAD THEATRE FOUNDATION (A Company Limitsd by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Restricted funds 2025 Unrestricted funds 2025 Total funds 2025 Totsl funds 2024 Note Income from: Other trading adivities Investments 56,000 248 56,000 248 56,000 234 Total income 56,248 56,248 56,234 Expenditure on: Charitable activities 12,737 175,059 187,796 188,566 Total expendlture 12,737 175,059 187,796 188,566 Net movement in funds (12,737) (118,811) {131,548) (132,332) Reconciliation of funds: Total funds brought forward Net movement in funds 993,513 {12.737) 9,068,774 (118,811) 10,062,287 (131,548) 10.194,619 (132,332) Total funds carried foThvard 980,776 8,949,963 9,930,739 10.062,287 The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 12 to 20 form part of these financial statements. Page 10
HAMPSTEAD THEATRE FOUNDATION IA Company Limited by Guarantee} REGISTERED NUMBER: 03656378 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixad assets Tangible assets Current assets 9,936,147 10,065,187 Debtors Cash at bank and in hand 10 179 36,525 39,214 36,704 39,214 Creditors.. amounts falling due within one year 11 (42,112) (42,114) Net current assets I liabilities (5,408) (2,900) Total net assets 9,930,739 10,062,287 Charity funds Restricted funds Unrestrided funds 12 12 980,776 8,949,963 993,513 9,068,774 Total funds 9,930,739 10,062,287 The Trustees acknowledge their responsibilities for complying with the requirements of the Act with r8spect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees on 12 December 2025 and signed on eir behalf by.. Greg Ri rrus le notes ages 1210 fomi part of these financial statements. Page11
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infomiatlon Hampstead Theatre Foundation is a charitable company limited by guarantee and incorporated in England. The members of the company are the Trustees named on page 1. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member of the company. The address of the registered office is Eton Avenue, Swiss Cottage, London, NW3 3EU. Accounting policies 2.1 Basis of preparation of financlal statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) 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) {effe¢tive 1 January 2019), the Financial Reporting Stsndard applicable in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. The chariws functional and pSentatIOn currency is GBP. Hampstead Theatre Foundation meets the definition of a public benefit entty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. 2.2 Going concern The statement of financial position shows that the charity had net assets at the balance sheet date of £9,930,739 (2024.. £10,062,287>. The charity is dependant on the support of a related company. The trustees have received assurances from the related company that it will support the charity for the foreseeable future. The financial statements have therefore been prepared on a going concern basis. Existing funding facilities, forecasts and projections indicate that the charity has adequate resources to continue with some level of activity from minimal to full levels. After reviewing the charitys forecasts and projections, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. 2.3 Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the company and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance wtth specific restrictions imposed by donors or which have been raised by the company for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 12
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.4 Incoming Resources Grants and donations receivable are recognised in incoming resources in the year in which they are received. Rentsl income is recognised when receivable by the charity. 2.5 Expenditure All expenditure is accounted for on an accruals basis and has been included under expense categories that aggregate all costs for allocation to activities. Where costs cannot be directly attributed to particular activities they have been allocated on a basis consistent with the use of the resources. Charitable activities are costs related directty to the aims of the charity. Governance costs include those expenses incurred in the governance of the Charty which do not relate to the provision of the charitable activities, but are primarily associated with the constitLrtional and statutory matters. Expenditure on charitable activities is incurred on directly undertaking the activities which further the company's objectives, as well as any associated support costs. 2.6 Tangible fixed assets and depreciation Tangible fixed assets are carried at C05t. net of depreciation and any provision for impaimient. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their eslimated useful lives. Depreciation is provided on the following basis= Theatre building Over the lease term of 99 years 2.7 Interest rec8ivablo Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: Ihis is normally upon notification of the interest paid or payable by the bank. 2.8 Debtors Trade and other debtors are recognised at the settlement amount. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 13
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guaranteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.10 Llabllities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities and provisions are nomially recognised at their settlement amount. 2.11 Flnancial instruments The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financi81 instruments are initially recognised at transaction value and subsequently measured at their settlement value. Income from other trading activities Income from non charitsbl8 trading activities Unrestricted funds 2025 Total funds 2025 Rental income 56,000 56,000 Unrestricted funds 2024 Total funds 2024 Rental income 56,000 56,000 Page 14
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Investment income Unrestricted funds 2025 Total funds 2025 Interest receivable 248 248 Unrestricted funds 2024 Total funds 2024 Interest receivable 234 234 Analysis of expenditure on charitablo activitles Summary by fund type Restricted Unrestricted funds funds 2025 2025 Total 2025 Direct costs 12,737 175.059 187,796 Restricted Unrestricted funds funds 2024 2024 Total 2024 Direct costs 12,737 175,829 188,566 Page 15
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expenditure by activities Activities undertaken directly 2025 Grant funding of activtties 2025 Support osts 2025 Totsl funds 2025 Management of the theatre 129,196 56,000 2,600 187,796 Acttvities undertaken directly 2024 Grant funding of activities 2024 Support costs 2024 Total fund5 2024 Management of the theatre 129,966 56,000 2,600 188,566 Analysis of direct costs Total funds 2025 Activities 2025 Depreciation Bank charges Ground rent 129,040 57 99 129,040 57 99 129,196 129,196 Total funds 2024 Activrties 2024 Depreciation Bank charges Ground rent 129,040 43 883 129,040 43 883 129,966 129,966 Page 16
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Analysis of expendlture by activities (continued) Analysls of direct costs (continued) Analysls of support costs Total funds 2025 Activities 2025 Auditors, remuneration 2,600 2,600 Total fijnds 2024 Activities 2024 Auditors, remuneration 2,600 2,600 Auditors. rèmuneration 2025 2024 Fees payable to the company's auditor for the audit of the company's annual accounts 2,600 2,600 Trustees, remuneratlon and expenses During the year, no Trustees received any remuneration or other benefits (2024 - £NIL). During the year ended 31 March 2025. no TNstee expenses have been incurred (2024- £NIL). Page 17
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Tangible fixed assets Long-term leasehold property Cc*St or valuation At 1 April 2024 12,628,370 At 31 March 2025 12,628,370 Deprociation At 1 April 2024 Charge for the year 2,563,183 129,040 At 31 March 2025 2,692,223 Net book value At 31 March 2025 9,936,147 At 31 March 2024 10,065,187 10. Debtors 2025 2024 Prepayments and accrued income 179 179 11. Creditors: Amounts falling due within one year 2025 2024 Trade creditors Other taxation and social security Accruals and deferred income 25 2,000 40,089 2,800 39,312 42,112 42,114 Page 18
HAMPSTEAD THEATRE FOUNDATION (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Statement of funds Statsment of funds - current year Balance al 31 March 2025 Balance at 1 April 2024 Income Expenditure Unrestrlcted funds General Funds- all funds 9,068,774 56,248 (175,059} 8,949,963 Restricted funds Restricted Funds - all funds 993,513 (12,737) 980,776 Total of funds 10,062,287 56,248 (187,796) 9,930,739 Statsment of funds - prior year Balance at 31 March 2024 Balance at 1 April 2023 Transfers inlout Income Expenditure Unrestricted funds General Funds- all funds 9,213,839 56,234 (175,829) (25,470) 9,068,774 Restricted funds Restricted Funds - all funds 980,780 (12,737) 25,470 993,513 Total of funds 10,194,619 56,234 {188,566) 10,062,287 Page 19
HAMPSTEAD THEATRE FOUNDATION IA Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Analysis of net assets between funds Analysis of net assets between funds - current year Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Current assets Creditors due within one year 980,776 8,955,371 36,704 (42,112) 9,936,147 38,704 (42.112} Total 980,776 8,949,963 9,930,739 Analysis of net assets between funds - prior year Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Current assets Creditors due within one year 993,513 9,071,674 10,065.187 39,214 39,214 (42,114) (42,1141 Total 993,513 9,068,774 10,062,287 14. Related party transactlons During the year rent of £56,000 (2024: £56,000) was received from Hampstead Theatre Limited and grants of £58,000 (2024.. £56,000) were paid to Hampstead Theatre Limited. 15. NonAdjusting Event Arts Council England had a charge through a legal mortgage, secured on all assets of the charitable company, including the Theatre Building. The charge was registered on 8 July 2008 and a discharge was subsequently signed by Arts Council England and filed after the reporting period. Page 20