Registered number: 03983323 Charity number: 1081752 ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 AEHU962X 2011212025 COMPANIES HOUSE A57
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ST. GEORGE'S THEATRE TRUST IA Company Limited by Guarantee) CONTENTS Page Reference and Admlnistrative Detalls of the Company, its Trustees and Advisers Trustees, Report Independent Examlner's Report Statement of Financlal Actlvlties Balance Sheet 9-10 Notes to the FlnancSal Statements
ST. GEORGE'S THEATRE TRUST {A Company Limlted by Guarantee REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 Trustees W Ellis (resigned 22 August 2024) S Hood (resigned 11 November 2025) R Pickering S Scott (resigned 7 July 2025) D Staines {appointed 27 June 2025) J Tully, Chair (appointed 2 October 2025) H Woodruff lappointed 27 June 2025) P Wylie (appointed 28 June 2025, resigned 22 August 2024) Company registered number 03983323 Charlty reglstered number 1081752 Registered office St George's Theatre King Street Great Yarmouth Norfolk NR30 2PG Company secretary J A Goffin Accountants BW Audit Limited Chartered Accountants 8erry & Warren 54 Thorpe Road Norwich NR1 1RY Solicitors Hansells Cambridge House 26 Tombland Nonmich Norfolk NR31RE Page 1
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the financial statements of the company for the year 1 April 2024 to 31 March 2025. The Annual Report serves the purposes of both a Trustees. report and a directors, report under company law. The Trustees confirm that the Annual Report and financial slatements of the charitable company comply with the current statulory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS1021 {effeclive 1 January 20191. Since the company.qualifies as small under section 382 of the Companies Act 2006. the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors, Report) Regulations 2013 has been omitted. Objectives and actlvitles Objectives and activities The Trust's principal obieclives are to advance public education in the arts and to improve and develop public taste, appreciation and understanding of the arts in Great Yarmouth and the surrounding district. The charity will fulfil ils objectives by.. al Managing and operating St George's Theatre, the cafe I bar and the adjacent amenity and performance areas to provide a balanced and broad range of cultural activities on the premises including theatre, cinema, performing arts, arts cenlre, community use, civic purposes, training, and other events {including craft fairs, antique fairs, trade fairs, banqueting and funclions),. bl Operaling the cafe I bar for the benefit of the public generally and more specifically for Ihose visiting the theatre., c) Generating income to mainlain {in conjunction with rts landlord Great Yarmouth Borough Council) the fabric of St George's Theatre and the cafe I bar for the long term benefit of the local community. The Trust will: Ensure that its income is used only for the purposes set out above. ii. Only carry out activities at other locations which are anci118ry or incidental to (a) and {b) above. b. Public Benefit The Trustees confirm that they have paid due regard to the Charity Commission guidance on public benefil in deciding what activrties the Trust will undertake. It is considered that the Trust will provide public benefit through: a) Allowing members of the public access, without charge, to the theatre so as to view its historic and architectural features for a minimum of 100 hours in each calendar year., bl Allowing members of the public access without charge to the cafe I bar and amenity areas for the purpose of rest and recreation. c) The provision of a range of cultural experiences for the community. dj The provision of educational opportunities to open a route for all ages in to the arts. Page 2
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance Rgview of activities There were 189 events during the year, a varied mix of music, drama, comedy and family and community shows. Highlights included our Easter youth musical show 'High School Musical Abigail's Party, and 'Shirley Valentine, presented by Sheringham Little Theatre and our in house professional Pantomime 'Snow White,, again live streamed into schools through our partnership with Norfolk Music Hub. We also produced our own Adult Pantomime, which sold out and toured to Sheringham. The 'Know your Neighbour, DCMS funded project which encourages volunteers from the community, staged three successful productions., Juke Box Thrive, Through the Decades and This Christmas Carol. We held three Volunteer events in partnership with Dial. We began our Arts Council funded audience development project 'Moving Fonmard, which began monitoring our audience dala and gathering valuable feedback to help inform our programming going forward. This project concludes in September 2025. We have continued our programme working with young people through weekly drama sessions, holiday activity and productions. They produced 'Alice in Wonderland, in February 2025. To ensure the theatre remains as inclusive as possible, we continue our partnerships with local community groups, including FABBA, sessions for adults with learning disabilities, Chill Spot sessions by The Mancroft Advisory Project (MAP) and The Youth Advisory Board (YAB). We ran a 'Care and Refresh, project through Community Foundation funding and set up a 'Clean up Crew, for young adults who need to gain work experience. We began wrk creating a full stage adaptation of Tia Fisher's award winning book 'Crossing the Line,. We successfully applied to The Arts Council for a proieci grant to run a research and development project in May 2025. This will be in Partnership with the Norfolk and Notwich Festival INNF). We also worked with NNF lo bring a dementia friendly piece of work to the theatre called 'On the Beach,. Other artistic partnerships included working with Orchestras Live lo bring the 88C Concert Orchestra to the venue, National Heritage Days events and programming for the Great Yarmouth Arts Festival. Financial review a. Review of results The financial results are shown in the Statement of Financial Activities on page 8. A nel profit was generated in the year amountlng lo £26,830 (2024 - £55, 306) after receipt of a management fee of P25,000 {2024 - £25, 000) from Great Yarmouth Borough Council. The charitvs subsidiary, St George's Trading Limited, generated turnover of £60,197 (2024 £66, 728) and recorded a loss for the year of £18,387 (2024 - profil of £40,692). As at 31st March 2025 the company had net assets of £23,673 (2024 - £42,060). The results of St George's Trading Limited have not been consolidated into the Trust's accounts as thé group is exempt from producing group accounts. Combined, the current year shows an improvement for the group compared wilh the prior year. Page 3
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 b. Golng concern The Trustees have considered the charity's position at the time of signing the financial statements. As a community theatre thal operates all year round lo provide a wide variety of reasonably priced entertainment for local people including some pay-what-you-can events for hard-pressed families the theatre cannot rely on ticket sales alone for ils long term viability and will continue to seek grant support from local authorities and charitable bodies. The management's success in achieving this support in recent years gives Trustees the confidence to believe that there will be sufficient funds lo operate the theatre during 2025-26 and continue lo provide local people with a varied programme of entertainment. c. Reserves pollcy As at 31 March 2025, the Trust had unrestricted free reserves, being unrestricted reserves less fixed assets, of a deficit of £8,079 (2024 £28,638). Post year end, the trading subsidiary made a donation of its profits which returns the free reserves to a positive position. The distribution has not been accrued for as Stipulated by the Companies Act 2006. The Trust held £15,314 (2024 £78,819J in restricted funds. The Trust has total reserves of £17.264 (2024 - a deficil of £9,366). Trustees recognise the need to build up and retain reserves lo provide for unexpected expenditure, for replacement of equipment and to have funds available in case of an unforeseen downturn in income. The Trust reviews ils reseNes policy annually. This review encompasses the nature of the income and expenditure streams, the need to match variable income with fixed commitmenls and the nature of the reserves. The Trustees aim to build up free reserves lo £70,000. d. Plans for future period The Trust is currently wnning tm Arts Council projects, the audience development project will help inform our programming going fomard lo ensure we are inclusive, relevant, affordable and sustainable. The other project 'Crossing the Line, addresses issues within the community and of national relevance, we have applied to develop this work and tour the production in the future. We are aware with the local Government restructure planning we need to be an important venue for Norfolk and we are talking lo the Arts Council about applying to be a National Portfolio Venue {NPO) in their next round of applications. We are in talks with Great Yarmouth Borough Council to extend our Service Level agreement from one year to 5 years, in order to provide some stability to our funding as the changes occur. Structure, governance and management . Governing document St. George's Theatre Trusl is a company limited by guarantee govemed by its Memorandum of Articles of Association. The company operates as a charitable trust, registered with the Charilies Commission. The Company adopted new Memorandum and Articles of Association on 27 July 2012 and were accepted by the Charity Commission in January 2013. These were further amended on 5 February 2016 to increase the maximum number of trustees from e1ve to thirteen. Page 4
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Structure, governance and management {continued) b. Recruitment, Appointment and Training of Truste•s The Trustees, who are also Directors of the charitable company for the purpose of company law and also the company's members, throughout the report are collectively referred to as the Trustees. The number of Truslees shall be not less than three and not more than thirteen persons. Trustees seNe for a three year term of office and will not normally seNe for more than three temis. Trustees shall be persons who through occupation, employment or otheise have special knowledge of the area of benefit or who are otherwise able by virtue of their personal or professional qualifications to make a contribution to the pursuit of the objects of the charity. All new Trustees will be provided vrfith.. The governing document of the charity The latest financial statements of the charity And are encouraged to read Charity Commission guidance notes CC3- The Essential Trustee-'What you need to know, what you need to do" In addition, the Trustees are encouraged to ready Charity Commission and other newsletters and to attend courses designed to keep them abreast of their duties and respon_sibilities. The Trustees who served during the year and al the date of the report are listed on page 1. c. Risk Management The Trustees acknowledge the Charity Cornmission's recommendation for them to undertake a review of the major risks to which the trust is exposed. A full review of the risks was completed and policies put in place d. Organlsatlonal Structure The Trust is administered and controlled by Ihe Trustees who meet bi-monthly. The day to day operalion and seNices of the Trust are under the control of a Theatre Director. Page 5
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees. responsibillties The Trustees (who are also the directors of the company for the purposes of company law) are responsible for preparing the Trustees, Report and the financial slatemenls in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepled Accounting Practice). Company law requires Ihe Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the stale of affairs of the company and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, Ihe Trustees are required to.. select suitable 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; stale whether applicable UK Accounting Standards (FRS 1021 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 company will continue in business. The Truslees are responsible for keeping adequale accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them lo 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 laking reasonable steps for Ihe prevention and detection of fraud and other irregularities. Ap roved by order of the members of the board of Trustees and signed on their behalf by.. ully Trustee . Date.. 17 December 2025 Page 6
ST. GEORGE'S THEATRE TRUST IA Company Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2025 Independent Examinerfs Report to the Trustees of St. George's Theatre Trust {'the company, I report to the charity Trustees on my examination of the accounts of the company for the year ended 31 March 2025. Responsibilities and Basis of Report As the Twstees of the company (and its diredors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my éxarnination of the companls accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charily Commission under section 145(5)Ib) of the 2011 Act. Independènt Examiner's Statement Since the company's gross income exceeded £250,000 your examiner musl be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of Inslitule of Chartered Accounlants 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 connecl¢on with the examination giving me cause lo believe.. accounting records were not kepl in respect of the company as required by section 386 of the 2006 Act., or the accounts do not accord with those records; or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination., or the accounls have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities lapplicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the company's Trustees, as a body. in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might stale lo the companls Trustees those matters l am required to state to them in an Independenl Examiner's Report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the company and the company's Trustees as a body, for my work or for this report. Signed.. Joanne Fox BA FCA rfvj U,V Dated.. 17 December 2025 BW Audit Limited Chartered Accountsnts Norwich Page 7
ST. GEORGE'S THEATRE TRUST IA Company Limited by Guarantee) STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted funds 2025 Restricted funds 2025 Total funds 2025 Tot81 funds 2024 Note Income from: Donations and legacies Charitable activities Other trading activities Investments 71,337 226,220 6,381 117 167,797 229,134 226,220 6,381 117 107.205 163, 160 3,548 329 Total income 304,055 157,797 461,852 274,242 Expenditure on: Charitable aclivities 281,086 154,136 435,222 329,548 Total expenditure 281,086 154,136 435,222 329, 548 Net Incomell8xpendlture) Transfers beeen funds 22,969 7,166 3,661 (7,166 26,630 (55.306) 16 Net movement In funds 30,135 (3,505} 26,630 (55,306) Reconciliation of funds: Total funds brought foNard Net movement in funds <28,1851 30,135 18,819 {3,505) (9,366) 26,630 45, 940 (55,306) Total funds carrled forward 1,950 15,314 17,264 (9,366) The Statement of Financial Activities includes all gains and losses recognised in the year. The notes on pages 1110 25 fomi part of these financial statements. Page 8
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 03983323 BALANCE SHEET AS AT 31 MARCH 2025 2025 2024 Note Fixed assets Tangible assets Investments 12 13 10,028 452 10,029 453 Current assets Debtors Cash at bank and in hand 14 45,553 32,580 38, 093 70,908 78,133 49,001 Current15abllltl•s Creditors.. amounts falling due within one year 15 (70,8981 (58,820) Net current assets I liabilites 7,235 (9,819) Total assets less current Ilabilitles 17,264 (9,366) Total net assets 17,264 (9,366) Charity funds Restricted funds Unrestricted funds 16 16 15,314 1,950 18,819 (28, 185) Total funds 17,264 (9,366) The company w£s entitled to exemption from audit under section 477 of the Companies Act 20C6. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Trustees acknowledge their responsibilities for complying with the requirements of the Act wrth respect to accounting cOrdS and preparation of financial statements. The financial stalemenls have been prepared in accordance wilh the provisions 8pplicable to entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by: Page 9
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) REGISTERED NUMBER: 03983323 BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2025 ully Trustee Dale.. 17 December 2025 The notes on pages 11 to 25 form part of these financial stalements. Page 10
ST. GEORGE'S THEATRE TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 General infomiation The Trusl is a private company limited by guarantee, registered in England and Wales and a registered charity in England and Wales. The address of the registered office is St George's Theatre, King Street, Great Yarmouth, Norfolk, NR30 2PG. The principal activities of the Trust are detailed within the Trustees Report. In the event of the company being wound up, the liability in respect of the guarantee is limited to £1 per member. Accounllng policles 2.1 Basis of preparation of flnancial statements The financial statements have been prepared in accordance wilh the Charities SORP {FRS 102) Accounting 8nd Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effective 1 January 20191, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 1021 and the Companies Act 2006. St. George's Theatre Trust meets the definition of a public benefit entity under FRS 102: Assets and liabilities are initially recognised at historical cost or Iransaction value unless otherwise stated in the relevant accounting policy. The Charity is not required to prepare consolidated accounts in accordance with the Charities Act 2011, and has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the Charity and its subsidiary undertakings comprise a small group. 2.2 Going concern The Twst is reliant on the considerable support it receives from the public, partner organisalions and donors, and has plans in place to ensure it can raise the necessary funds so that it can continue to operate, and continue lo be an essential part of the offering lo Great Yam)outh residents and visitors. The trustees have considered available resources and projections which demonstrate that the charity will have sufficient cash lo meet ils liabilities as it falls due. The Trustees have considered the above, and the potential impact of uncertainty over future funding and demand for perforrnances, and concluded that they have a reasonable expeclalion that the charity will have adequate resources to continue in operational existence for at least 12 months from the date of signing these financial statemenls. As such the -l-rustees continue to adopt the going concern basis in preparing these financial statements. Page11
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.3 Income All income is included in the statement of financial activities when entitlement has passed to the charity, and it is probable that the economic benefits associated with the transaction will flow to the charity and the amount can be reliably measured. The following specific policies are applied to particular categories of income: Income from donations or gr8nts is recognised when there is evidence of entitlement, receipt is probable and its amount can be measured reliably. Income from donated goods is measured at the fair value of the goods unless this is impractical to measure reliably, in which case the value is derived from the cost lo the donor or the estimated resale value. Donaled facilities and services are recognised in the accounts when received if the value can be reliably measured. No amounts are included for the contribution of general volunteers. Income from contracts for the supply of services is recognised with the delivery of the contracted service. This is classified as unrestncled funds unless there is a contractual requirement for il to be spent on a particular purpose and returned if unspenl, in which case rt may be regarded as restricted. Income from tickets is recognised in the period to which the show relates. 2.4 Expenditure Expenditure is recognised on an accruals basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered, and is classified under headings in the Statement of the financial activities to which il relates: Expenditure on raising funds includes the costs of all fundraising aclivrties, events and noncharitable trading activities. Expenditure on charitable activities includes 811 costs incurred by the charity in undertaking activities that further its charitable aims for the benefit of ils beneficiaries, including those support costs and costs relating to governance of the charity apportioned to the charitable activities. Other expendilure includes all expenditure that is neither related to raising funds for the charily nor part of its expenditure on charitable activities. All costs are allocated to expenditure categories reflecting ihe use of the resource. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs are apportioned behveen the activities Ihey contribute to on a reasonable, juslifiable and consistent basis. 2.5 Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the company., this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. Page 12
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (continued) 2.6 Tangible fixed assets and depreciation Tangible fixed assets are initially recognised at cost. After recognition, under Ihe cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condilion should be included in the measurement of cost. Depreciation is charged so as lo allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method, Depreciation is provided on the following basis.. Theatre equipment Office equipment 200/0 8traight line 330/0 Straight line 2.7 Investments Investments in subsidiaries are valued at cost less provision for impairment. 2.8 Debtors Trade and other debtors are recognised al the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid nel of any trade discounts due. 2.9 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments wilh a short malurity of three months or less from the dale of acquisition or opening of the deposit or similar account. 2.10 Liabilities and provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, il is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement Can be estimated reliably. Liabilities are recognised at the amount that the company anticipates it will pay to settle the debl or the amount it has received as advanced payments for the goods or seNices il must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-lax discount rate Ihat reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost. 2.11 Financial instruments The company only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequenlly measured at their settlement value. Page13
ST. GEORGE'S THEATRE TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accounting policies (conlinued) 2.12 Pensions The company operates a defined contribulion pension schem8 and the pension charge represents the amounts payable by the company to the fund in respect of the year. 2.13 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 with 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. Income from donations and legacies Unrestricted Restricted funds funds 2025 2025 Total funds 2025 Donations Grants 46,337 25,000 46,337 182,797 157,797 71,337 157.797 229.134 Page 14
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Income from donations and legacies (continued) Unreslricted funds 2024 Reslricled funds 2024 To181 funds 2024 Donations Grants Friends membership fe8S 4, 656 29,998 180 4, 656 102, 369 180 72,371 34,834 72,371 107,205 Income from charitable activities Unrestricted funds 2025 Total funds 2025 Tot81 funds 2024 Box Office admission fees and commission Hire of premises 214,666 11,554 214,666 11,554 155,530 7, 630 226,220 226,220 163, 160 Income from other trading activltles Income from non charitable trading activities Unrestricted funds 2025 Total funds 2025 Total funds 2024 Programme, merchandise and raffle income 6,381 6,381 3,548 Page 15
ST. GEORGE'S THEATRE TRUST (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 Tot81 funds 2024 Bank deposit interest 117 117 329 Analysis of expendlture on charltable actlvlties Summary by fund type Unrestricted Restricted funds funds 2025 2025 Total 2025 Expenditure on charitable activities 281.086 154,136 435,222 Unrestricted funds 2024 Reslncted funds 2024 Tolal 2024 Expenditure on charitable activities 275,996 53, 552 329, 548 Page 16
ST. GEORGE'S THEATRE TRUST (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 Total funds 2025 Total funds 2024 Expenditure on charitable activities 435,222 435,222 329,548 Analysis of direct costs Total funds 2025 Total funds 2024 staff costs Contract Slaff Production Costs Project Grants Advertising Travel and subsistence Insurance Propety Rates Heal, light and water Repairs and Maintenance Printing, stationary, IT and telephone Professional Fees Development fee Bank charges and interest DÈpre¢iation Irrecoverable VAT Governance Costs Profit on disposal of fixed assets 90,094 59.979 8, 054 116,307 32, 839 11.355 2.092 4.206 2,641 32, 898 15,024 11,256 11,975 182,179 41,458 21,847 9,345 1,696 2,361 21,807 15,523 13,856 14,050 286 2,391 509 15,620 2,400 1200) 1, 785 775 15,962 2,400 435,222 329, 548 Page 17
ST. GEORGE'S THEATRE TRUST IA Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Independent examiner's remuneration 2025 2024 Fees payable to the company's independent examiner for the independent examination of the company's annual accounts 2,350 2, 250 10. Slaff costs 2025 2024 Wages and Salaries Social security costs Contribution to defined contribution pension schemes 87,810 970 59, 288 1,314 691 90,094 59,979 The average number of persons employed by the company during the year was as follows.. 2025 No. 2024 No. Employees No employee received remuneration amounting to more than £60,000 in either year. During the year £21,992 (2024 - £20,310) was paid lo key management personnel. 11. Trustees. remuneration and expens8S During the year, no Trustees received any remuneration or other benefits (2024 - £NILJ. During the year ended 31 March 2025, no Twstee expenses have been incurred (2024- £NIL). Page 18
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 12. Tangible fixed assets Theatre equipment Office equipment Total Cost or valuation At 1 April 2024 Additions Disposals 29,181 9,485 (1,349) 6,857 600 36,038 10,085 <1,349) At 31 March 2025 37,317 7,457 44,774 Depreclation At 1 April 2024 Charge for the year On disposals 28,729 309 {1,349 6,857 200 35,586 509 {1,3491 At 31 March 2025 27,689 7,057 34,746 Net book value At 31 March 2025 9,628 400 10,028 Al 31 March 2024 452 452 Page 19
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 13. Fixed asset investments Investrnents in subsidiary companies Cost or valuation At 1 April 2024 At 31 March 2025 Net book value At 31 March 2025 At 31 mSh 2024 Principal subsidiaries The following was a subsidiary undertaking of the company.. Name Company number Registered office or principal Class of place of business shares Holding St George's Trading Ltd 07951033 Sl George's Theatre, King Street, Ordinary Great Yarmouth, NR30 2PG 100% The financial results of the subsidiary for the year were.. Nama Income Expendlture ProfitllLossl for the year Nat assets St George's Trading Ltd 60,197 125,401) 118,3871 23,673 Page 20
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 14. Debtors 202S 2024 Due within one year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 1,480 37,969 9,016 24,957 345 3, 775 6,104 45,553 38,093 15. Creditors: Amounts falling due within one year 202S 2024 Trade creditor8 Other taxation and social security Other creditors Accruals and deferred income 23,106 3,237 1,983 42,572 15,207 614 438 42,561 70,898 58, 820 2025 2024 Deferred income at 1 April 2024 Resources deferred during the year Amounts released from previous periods 33,084 32,533 (28,172) t6,407 31,418 {74,741) 37,445 33,084 Deferred income represents funds received from the sale of tickets in advance of future performances and gift vouchers yet lo be redeemed. Page 21
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Statement of funds Statement of funds - current year Balance at 31 March 2025 Balance at 1 April 2024 Transfers inlout Income Expenditure Unrestricled funds General Funds (28,1851 304,055 (281,086) 7,166 1,950 Restriclèd funds Art8 for Everyone Know Your Neighbourhood Hot Box Cafe NCF Apollo Club Lottery Fund - Arts Council Places Trust - Tamed Norfolk County Council - Arts Grant Great Yarmouth Borough Council new bar 10,550 6,280 1,989 (10,550) {67,503) {1,989} 114,654) 139,9421 {14,500 61,223 14,654 55,256 14,500 15,314 4,998 14,9981 7,166 {7,166) 18,819 157,797 (154,136) (7,166) 15,314 Total of funds {9,366) 481,852 {43S,222) 17,264 Page 22
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2025 16. Statement of funds (contlnued) The Arts Workshop Leader provided funding for a year to offer weekly drama sessions to young people who cannot afford to pay. Arts for Everyone is a project supporting pay what you can afford performances for families. It also supported a specialist theatre company to deliver a workshop and show for people suffering with dementia and Iheir carers. Know Your Neighbourhood is a 3-part project with DIAL and Reprezent to connect with others., supporting volunteers to befriend visitors and put on activities at a volunteer cafe. Hot Box Cafe is to provide a warm hub for people and families suffering with the cost of living crisis, NCF Apollo Club is a project lo support local people with poor mental health. Lottery Fund - Arts Council provided Iwo grants., one for an audience development project and one as a research and development project to raise awareness of drug gang activity in Norfolk. Places Trusl is a grant to work wilh an up and coming theatre company on a new devised piece of theatre called 'Tamed'. Norfolk County Council agreed a service level agreement for the year to provide community activities for the year including our youlh work and engagement with Volunteers. GYBC provided a grant to create a new bar area.. The transfer from restricted funds into unrestricted funds is to reflect a grant received for fixed asset additions which has been spent in the year and therefore the reslriction has been satisfied. Page 23
ST. GEORGE'S THEATRE TRUST {A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 16. Statement of funds (continued) Statement of funds - prlor year Balance al 31 MarGh 2024 Balance al 1 Apnl 2023 Income Expenditure Unrestricted funds General Funds 45,940 201,871 (275, 996) (28, 185) Restricted funds Arts workshop leader Arts for Everyone Know Your Neighbourhood Hot Box Cafe 1,000 10,550 58, 832 1, 989 (1,000) 10,550 6, 280 1,989 (52,552) 72,371 (53, 552) 18,819 Total of funds 45,940 274,242 (329, 548) (9, 366) 17. Analysls of net assets between funds Analysis of net assets between funds - current year Unreslricted Restricted funds funds 2025 2025 Total funds 2025 Tangible fixed assets Fixed asset investmenls Current assets Creditors due within one year 10,028 10,028 62,819 (70,898) 15,314 78,133 (70,898 Total 1,950 15,314 17,264 Page 24
ST. GEORGE'S THEATRE TRUST (A Company Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 17. Analysis of net assets between funds (continued) Analysis of net assels between funds - prlor year Unrestricled funds 2024 Restncted funds 2024 Total funds 2024 Tangible fixed assets Fixed asset investments Current assets Creditors due within one year 452 452 30, 182 (58, 820) 18,819 49,001 (58, 820) Total (28, 185) 18,819 (9,366) 18. Pension commitments The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represenls contributions payable by the company lo the fund and amounted lo £1,314 (2024 - £691). £340 (2024 - £179) was payable to the fund at the balance sheet date and is included in creditors. 19. Related party transactions Steven Scolt, a fomier Trustee, has joint control of TMS Media Limited. During the period the Trust purchased services from this company for £2.890 (2024 - £3,245). A creditor balance of £Nil (2024 £456) was outstanding al the year end. Ryan Pickering, a Trustee, charged for work carried out as project manager amounting to £Nil (2024 £1,512). St. George's Trading Limited is a wholly owned subsidiary of the Trust. A debtor balance of £37,969 (2024 £24,957) was oulslanding at the yearaend. A donation to the charity was made in the year amounting to £38,346 (2024 - £Nil). Recharges were invoiced to the charity from Sheringham Little Theatre Society totalling £2,935 (2024 £6,237) and recharges invoiced to Sheringham Little Theatre Society totalling £7,977 (2024 - £NIl), a charity with key management personnel in common. At the year end £Nil (2024 - £Nil) was outstanding. Page 25