REGISTERED COIAPANY NUMBER: 03983443 (England and Waleg)
REGISTERED CHARITY NUMBER: 1088254
REPORT OF THE TRUSTEES AND
FINANCIAL STATEIAENTS
FOR THE YEAR ENDED 31 AUGUST 2024
FOR
THE KINGS THEATRE TRUST LIMrrED

THE KINGS THEATrE TRUST Lthl¥fED
COKTEpifs OF THE FINANCIAL STATEMEKrs
FOR THE YEAR ENDED 31 AUGUST 2024
Report of th• Trustoes
1 to 6
Roport of tha Indepondent Audliors
7 10 10
Statement of Financial Aclivitles
11
Balance Sheet
12
Gish Flow Slat•m•nt
13
Notes to the Cash Flow Statemont
14
Notes to the Flnancial Statements
15 to 27

THE KINGS ThEATRE TRUST LNfrED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
Th8 trustees who are also directrjrs of th8 charity for the wfpKts8S of the Companies Act 2006, present their report with
th8 flnanclal statements of the charity for the year ended 31 August 2024. The trustees have a(lopted the provisions of
Accounting and Reporting by Charities.. Statement of Re￿mmellded Practi[￿ applicable to thariti8s preparing their
accounts in accor118n￿ wth the Financial Reporb'ng StaThlard applicable in the UK and Republic of Ireland (FRS 102)
(8ff8ctive 1 January 2019).
OBJECTIVES AND ACTivrriES
The obiethts of the charity is to provlde high walty entertairvnent at affNdab18 Pril￿. d81iv8r opportuniti8s for the local
oJmrnunity to parts'cipale in the arts thn)ugh social and ¢ultural actwities; and be responsible ¢ustodians of trie Grade Il"
listed building with a maintenance and restoratw)n progranme.
PUBLIC BENEFIT
The Trustees wnfimi that they have referred to the gUrdan￿ contained in lh8 Charity Comtnission's gen8ral gu•dance
on public benefit when reviewng the chariws aims and objectives and in planning fiJtur8 activities. The Trustees refer to
public ben8frt throughout this reporL

THE KINGS THEATRE TRUST UMTfED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGusf 2024
ACHIEVEMENT AND PERFORIAANCE
This reF(Kt sets OLrt the achievements of the lfjngs Trea￿ Trust Limited frc¥n Septembèr 2023 to August 2024.
The finandal y8ar 23r24 has been a wiod of cA)nlinu8d grrAyth arKI irNestrn8nt fr)r the lfjngs. It has emergad fully frorn
Ihe pandemlc in a stronger positton than il was Pry>a￿lem1c, wib) beller progrnmming. increased audience figures. an
8stsbiish8d producing ami. and a ra¥xdly evohing Arts A(*emy.
Good attendan￿ at shows has enabkd the theatre to build up re5eryes. The surpluses generated from tts ticket sales.
re5toralion levy and ancillary sales. after covering operating costs. is used to ueate opportunthes to participate in
cr8aknvty and the enp>Thent of th8 arL8 thryth the production of its communty shov￿. the delivery of its communty ar
outreach proaramme. and by subsidising its Arts Acaderny and the $th￿arshIp stheme. The Kngs is fxmmttt8d to
providing affordable theatre arKI has continued to a￿1] subsidtsed £10 ti¢*ets in the gallery and restricted view seats for
iniemal prodUC￿nS and endeavour5 trj pul on shcpws at reaSona￿e prices. sullu￿ are also all(Kated to mainlaining
all that is n8ed8d to delwer a higWuality th8atre expelieno. induding audtlorium wairs. the upgrnde of stage and
technical 8qulpmenL and rnaintenan￿ of the building arvj wegervadon of Its h&toricxl (xAlection.
The theatre makes a FY)sltlve imparA to the e(x)nory and employmenL Over the year it 8mployed 31 corrtracted
staff arml 103 casual staff. Furthemore. loral shops. bars, restaurnnts. trdvel ffirn￿ and buslnesses ben8fft from the
increased foolfall to th8 area.
Thè thallenges the KirKJs fa￿$ ￿ng forward indude the lack of suitable space to expand its communty and outreach
offering, maknng the necessary changes to improve accessililty, and upgrading public areas and faulities In th8 theatre
to meet the needs of modem aud￿nCeS. The theatr8 is buill around lh￿ shops that are now dilapidated, and it is
prop08ing to use its reseNes suth that Ihis spa(* can be redevelo@ and in(yJrwraied into th8 theatre to meet the
needs of the theatre and reply￿ate th8 hlgh streeL
My thanks go to all the Trustees and the Exeujtive Board for their support over the last year, and I want to express
enorTnous grati￿de to all the staff and vdurrteers wF*) have deliver8d the adivitses arKJ contributed to the suwses
and 8chi8vem8nts.
ACHIEVEMEKfs IN 2023124
PROGRAMMING AND AUDIENCES
The prugrdmmwig policy is to have a broad appeal to peopl8 Imng in P￿Sffl￿ and trie IL￿1 ragK)n. In this
year th8r8 were 98 dTfferent shows with 1TT.230 attendiro ￿rfOrMancES acTos5 210 live performancas of
the shows. Tha qualty of shows is reflected In the many published Teviews. willngn8ss of PTDdU￿rs to vmrk
ith th8 KirvJs, and in f￿lback from rxtsto￿.
Week longs have included national tours of Si& Everybotys Talklng A￿ul J8mi8 and Heathers . It has
hosted sane of the b￿￿t names in ¢orr• wtth Tom Daws, Tom Allen. Ri)m8sh R8nganathan. Jon
Richardson and Stuart Lee. as wdl as nights with Jeff Stelling. Anton & Giavanni and Fasctnating Aida. High
qualty music acts across all genres are potmjlar and further Choices of owa. drama, dance. and childtsn's
shov•E have seen an increase in the core audienc8 base. The annual pantomime is produced by the
Kings 15 a favourite and dr8W 8 record attendance this year. Thi5 programme vras complemented by six
communty shows. three produced by the lfjngs. ar￿ perforn￿n￿ by local arna￿Jr drdnwtic soLieties and
danc8 schwLs.
Wrth mny Sh¢￿¥S playing to near full capadty180 wlth audien￿ over 1000) the replacement of b8nches
wilh new seating in the gallery has provgI a y￿rthwhIle investrnant
Page 2

THE KINGS THEATRETRusf UPMTED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
IN-HOUSE PRODUCTIONS
The Kiros started producing wi 2020. It has produced its (Iwn pantomima for th8 last f￿r seasons. This year
its productton of Hool. The Further Adventure of Peter Pan was watched by over 60,(KIO people over 50
perf0M￿nCeS. Th8 parrtomime is the highest gross eamw in U)8 yéar arKI is k8y lo th8 Iheatre's financial
r8sllien¢e and And8P8ndence. The pantomim8 will ￿)ntInUe to be prrxlucaj in-house.
Following on from its own communty productions of Chilty Chilly Bang Baro and Shop of Horrors last
year, the lQngs Grease there 7991 kwAe attended over 8 perfonnances and "one-of events.
which indud8d a commemotation for the 80th anniversary of D-Day. with prrKeeds going to chaiity.
These shows gave over 100 local perforners the opportunty to work with a professional creative t8am and
perform at the Kings. The Arts Academy also Fxoduced its own perfOThnan￿ of SporKJebob with 30 youth
members havirvJ the opportunty to be on stage perfomiing to 1.657 wple over three shows.
BUILDING AND TECHNICAL INVESTMEh
The Kings continued to invest in ts te¢hni¢al infraslrudure to ffleet the increasing demands of shows with
higher pri)duction values. Upgrddes during the year indude: wireless wmmunution8' specaal effects
(indudir¥J ge82ers) and refurbishing Ihe ord)estra piL
There has been signfficant investrnent in the building with over £81X),000 invested in repairs lo the East wall
8nd elevation of the theatre. A svJnrftcant portion of this cost was incurred by Portsmouth Cty Council. The
angs Is also golng through a program of upgrading its dressing rooms. galw seating and toiFet facilities.
OUTREACH AND PARTICIPATION
Although constrained by space the lfjngs delivered 139 separate events as a part of its community and
eduotton programme. This allows the lool ¢c¥nmunty to enjoy the theatre outside of tts show schedule
and offers an introdudion lo the arts for som8. Th8 lfjngs ncw runs an established weekly coffee moming
programme on a vartety of themes: a Communty Sing 8vent - a vtsddy gatharkng for those that just love to
siry,. regular stroke association meeting4 and a monlhly Writers Hub.
The lQngs welcomed over 92 pe￿ to its Heritage Op8n Day and >500 joined history, tech. toddler and
ghost tours during the year. The Kings also hosied the Chlnese New Year Celebra1￿ which is the biggest
UK CelebratiC￿ outside London.
A number of schools came for educalional vists and over 1.OlJ) schoolchildren and teathers atterNJed the
S¢hool Book Awards in June. A furth￿ 62 schwls bcoked for the pantomime, y￿th a total of 4910 attending.
KINGS SCHOOL OF PERFORMING ARTS
Followng its relaunch last year. The lfjngs renamed ts youlh theatre as The lfjngs School of PerfDrming
(KSPA) arKI develyd plans to extend this to an >16 programme in Ihe future. Over the year the Academy
gr8w from 72 to 89 mwnbers. It increased ts sdKJlarshlp 5d￿me to support parbcipation from Iow-lncome
families. Twelve part¥apants benefited from the scheme. 32 members partiripaied in the Academls
summer performan￿ of S￿ngeb0b.
Page 3

THE KINGS THEATrE TRUST LIMrrED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
INCLUSION
The theatre promotes aczess and inclusion to ensure that its offeriry is nHlg avalable to as wide an
audience as possible. It partiopated in the Holidays and FLx*J Scheme with 19 plac8s being tsken up in the
hool holidays for children rdThJing from 5-16 years old. tt gave over 1,CMXI tid(ets to thild￿n and adults
who would not normalty have the financial means to attend the theatre, and is a sponsor of the local Council
18(1 Cty of Sancluary. The ¢￿ee momings are part of thal a)unal scheme to ladde k8oL9tion and the
mental health issues Ihat ￿n ¢Jccur wlth this.
The theatre partirapates In the Hidden Disabilities Sunfiower scheme 2rNJ provKJes interpreted perfomiances
and d¢Jes a relaxed ￿nce of the pantomtme. The Front of Hwse team ar8 trdined in Dementia
Awareness.
22 volunteer5 SUPPOrt our w)rf( arxl tha delivery of athiuts.
HISTORICAL COLLECTION
As an independent theatre the lfjngs has a unique hislorKal Collection documenting tb perfomiance hisw.
It has an aclive pr(yJramme to preserve the archive. The archive is used by the thèatre fr)r exhibthons.
history talks. sodal n￿18 pos15 and ￿ntrIbUtionS to SOUV8nir bro(*xJres. 11 cyn be accessed on r8quast for
historical reseaTth.
MANAGEMENT AND GOVERNANCE
The trustees meet quarterty and have oimplete overswJht of g￿eManCe and fman(*s.
The EX￿tive Board meets monthly aThJ advises the Trust on C￿rT￿lIan￿ and governan￿ issues.
FINANCES
A surplus of £595.853 {2023: £5r9.581) was r8Wrted at the erKI of the financial year and the r8serves stcTh
at £2A47.099 (2023: £1.851.248).
RESERVES POUCY
The ¢urrent r8seNes are in excess of the Trusfs requiremerrts (adopted from Feb 2023) for an unrestricted reserve of
£1 m. The Trustees are confident that this of reser￿ will be Maintain￿1.
PAY POLICY FOR SENIOR STAFF
The Board of Diredors. vtho aro the Trusts TTUStees. provide oversight and govemance and the CEO and Exec
Team compris& the key management P8rsonnel of the chaiity In tharge of direcalng and ￿ntrOll￿, runnirvJ and
operatiro the Trust on a day404ay basis.
All dire(kn give Iheir time freely and no dY&tor r￿￿ed remuneration in ihe year for their trustee responsibUiti8S.
Detsils of all d[red0￿. remun8rati(m and benefts are disclosed in not8 9 to the aca)unts. The pay of s8nior staff is
revI8v￿1 annually.
RISK faANAGEMEKr
A Risk Regisier is run by the TrusL Thls identifies and assesses the bLtsiness risks. It ts revIeV￿ every three n￿nthS
and updated as appropriate.
Page 4

THE iaNGS THEATRE TRUST uMrrED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
STRUCTURE, GOVERNANCE AND MANAGEMEHr
Governlng do¢umont
The trust is a oxnpany limited by guarantee govemed by ts Memorandums and Arbdes of Association. li is registered
as a chartty with Charity Commission.
Recruitment and appoinlment of new tn￿teeS
The directors of The Kings Th8atre Trust Limited are aso charity trustees fv purpose of charity law.
Generally, no person other than a trustee reb'ring by rotatic￿. shall be appointed or reappointed a trustee at any ganaral
meeting unless a￿ recommended by the Iwstees.
Induction and tralnlng of new trustees
Trustees are regularly brief￿ on thelr legal 4jbligati(￿ and meet key employees and other trustees. They are wulatly
provided with management accourrts, business plans and releyant governan￿ do(>Jmentstion.
REFERENCE AND ADMINISTRATIVE DEfAILS
Reglstered Company number
03983443 (England and Wales)
Registered Charity number
1088254
Registered office
The Kings Th8atr8
Albert Road
Southsea
Hampshire
P05 2QJ
Truslgos
R Hasker
I Pratt
D Repton
DTGant
Dr G Morgan
R P8ck
P Woolf
Mrs P Prescott
Cllr H L Mason
Ms M Costa
G Quar
Restgned 21 JLAY 2024
Resigned 1 January 2025
Apponled 8 Septents 2023
Appointsd 11 June 2024
Chlof Execut[￿ Officer
P Woolf
R Pearce
Resigned 31 January 2024
AppO￿ted 31 January 2024
Audltors
Mo￿lS Crocker Limited
Chart8red Accountants
Statutory Auditors
stati￿ House
North Str￿1
Havant
Hampshire
P09 1QU
Page 5

THE KINGS TTrEATRE TRUST UMTfED
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 AUGUST 2024
REFERENCE AND ADhMI4STrAmVE DEfAILS
Bankers
Handelsbank8n PIC
Ground Floor
1000 Lakeside
North Hart)our
Westem Road
Portsmouth
PO8 3EN
STATEMENT OF TRUSTEES. RESPONSIBILMES
The trustees (who are also the diredors of The l(mgs Th&*e Trusl Limited for purposes of ca)mpany law) are
responsible for preparing the Rewt of the Trustees and the finanaal statements in accordan￿ with applicable law and
United Krwom AccwntiTrJ Standartts (United lfjrydom Gwa1￿ A￿pted A(xxyJrtrKJ Practice).
Company law requires the trustees to prepare financaal slatements for each finanraal year vthich giv8 a true arKI fair vi8W
of the state of affairs of the tharitable company and of tha incc*ning rwurcas arKI application of resources. including
the income and expendiiur8. of the chartlable ￿)MpanY for that Fwicxj. In preparing thos8 financial statements. the
trusiees are required to
select suitable a¢countir¥J [dI￿S and then apply them consistwty,
c&serve the methods and prinaples in Ihe Chaiity SORP;
make judgements and estimates that are reasMatA8 a￿1 PTudent
prepare tha finan<xal slatements on the g)ng cx)nom t*Si8 unless it is viapprDpriate to presume ￿￿t the charftable
cornpany will continue in business.
The trustees ar8 r8spMsible for keeping proper acwunbng r￿rdS whrch rf￿10$e wtth reasonable accuracy at any
lime Ihe finan￿1 position of the charitable ¢x)mpany and to enable thern to ensure that the finanaal statements comply
with the Companies Ad 2(X)6. They are also respMslble fty safeguardlng the assets of the charitable company and
han￿ for taking reasonth steps for the preventi[￿ and dete(knn offraud and other ryularities
In so far as the trustees are awar8:
there is Th) relevant audit infornwuon of the charilable Ixynpansls audliots are unaware. arKI
the trust888 have taken all steps Ihat they ought to have tsken to make themselves avrare of any relevant audit
infonnatlon and to estsblk8h that the auditors are aware of that inf0M￿tiOn.
AUDrroRS
The auditor5, Morris Crocker Limited. will be proposed for re4ppointrnent at the forihcoming Annual General Meetlng.
AFproved by ordar of the board of trustees on .. -
.. and signed on ts behalf ty.
D R8Pton - Trustee
Page 6

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE KINGS THEATRE TRUST UMrrED
Opinion
We have audited the financaal statem8nts of The lfjngs Th8atre Trust Ltmiled (the 'tharitabl& company) for the year
endgj 31 August 2024 whlch comprise the Statement of Financial ActW5tres, the Balan￿ Sheet, the Cash Flow
Stat8ment and notes to 1h8 financial statements. induding a summary of &gnifiGant a¢¢wnting policies. The financial
reporbng framework that has been applied in Iheir preparation is applicable law aThJ United lfjngdom Acct)unling
Standards (United lthgdc#n Generally Ac£epled Accounting Praciice).
In our opIn￿n the financial statemertts:
give a true and fair view of the state of tt)e tharItab￿ cfflipanvs affairs as at 31 August 2024 and of its incoming
resources and application of resouros. indLKIlr￿ its incorrE and expenditure, for the year then ended.
have b88n properly prepared in accordan(x ¥￿th Untied KI1gd￿ Genèrdty Accepted Accounting Practice., and
have been prepared in accordance with tha r8quirements of the Compani8s Act 2006.
Basis for opinion
We conducted our audit in accordance V￿th Internati￿al Standatds on Auditing (UK) (ISAS (UK)) and applicable law.
Our responsibilities under those standards are further described in tr￿ AJJditors' responsibil￿eS for the audit of Ihe
financial statements section of our report. We are irmdependent of the d￿ritable ￿MpanY in accx)rdance with the ethical
requlramants that are relevant to our audit of the financial statements in the UK induding the FRC'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 ￿ sufficient and appropriale to provkle a basis f(Y our Onlon.
Conclustons relating to golng concern
In auditing the financial statements, we have (xjnduded that the tru5tees' use of the sK)ing concem basis of ac(x>unting
in the preparalion of the financHI statements is appropriate.
Based on the work have perf￿d. we have not identified Material Un￿rtaIntieS relating to events or condittons
thaL indtviduatty or collectively. cast signtfic2nt doubt on the ctharitab18 rx)mpanWs ability to continue as a going
conlxm for a p8riod of at least ￿1Ve mwths from when th9 firw￿la1 slatements arg auth￿Ised for tssue.
Our responsibiltiies and the re5ponsibilthes of Ihe truslees with respect to wing are des￿ibed in the relevant
sections of this reFth.
Other infomiatt<Jn
Th& trustees are responsible for the other information. The other inft)m￿tion (x)mprises the information induded in the
Annual Report, other than finanrial statements and our Rewrt of the IndeFendent Auditors thereDn.
Our opinion on financial statements does not ￿)ver the other Inforn￿￿cffl and. except to th8 extent oth8rwis8
ex￿l￿dY stated in our report we do not express any fomi of assurance o)nclusion Ihereon.
In connection wth our audit of the financaal statements, our responsibtlty is to real the olher information and, in doing
so, consider whether the other infomiation is materialty ino)nsistent with the financ4al ststements or our knowledge
obtained in the audit or otherwise appears to be materially misslated. If we identify such material inconsistencies or
apparent material misststements. we are required to detennine vthetheT this gives rise lo a material misstatement in the
financial statements themselves. If. based on Ihe V￿rk we have p￿rom7ed. we (xmdude that there is a material
misstatement of this other InfO￿ation. we are required to report that fact. We have nothing to report in this regard.
Opinlons on other matters prescrlbed by the Companles Act 2006
In wr opinion, based on the work urKJertaken in the course of the audit:
Ihe infom)ation gNen In the Report of the Trustees for the fin￿￿la1 year for whith the fjnancial statements are
pr8pare(l is consist8nt the financial statements." and
the Report of the Trustees has been preparwj in aC0xdan￿ wlth applrcable legal requlremen
Page 7

REPORT OF THE INDEPENDEKf AUDrroRS TO THE MEATERS OF
THE KINGS THEATRE TRUST UMrrED
Matters on whlch we arn requlred to rnport by exceptlon
In the light of th8 kn￿edge and understandirKJ of the d￿ritable ￿fipany and its envir￿ment obtained in the course of
the aud1( w8 have not identtfied material mlsstatements in Ihe ReFX)rt of the TNstees.
We have nothing to report in respect of the folkmng matters where the Companies Act 2006 requires us tc report to
you rf, in our opinion:
adequate accounting 1P￿rdS have not been kept or relums adequale fDr our a￿lit have not been recerved from
branches not visited by us. or
th8 financial statements are not In agreement with the 8(￿￿UThting re￿rdS and retums: or
certain disclosures of trustees. remuneralion $￿ified by law are not m&Je" or
have not receNed all the infomation and exF4anations require for c￿r audit or
the trustees were not entitlwj to tske advantage of Ihe small companies 8xempiion from the requirement to prepare a
Strategic Report or in preparir¥J the RerK)rt of the Tfust
Responsibililios of trustees
As explained mor8 fulty in the Statement of Tmstees. Responsibilities. the trustees (who are also ￿ directors of the
¢harfta￿e company for the purkK)ses of company law) are responsible for the preparalion of the financaal statements
and for being satbfied that they gNe a ttue and fair wew. and for such Int8mal crMtrol as th8 trJstee5 determine is
nec8ssary to enab18 the prpparation of tha￿la7 State[￿nts that are free from materlal mlsstatsm8n( Ytheth8r due to
fraud or error.
In preparing the financial statements, the trustees are responsilje for assessing the charitable (x)mpany's abiltty to
continua as a going concem, di8dosing, as applicable. rnatt￿S related to goNng concem and using the going (x)nc8m
basis of accounting unless the trustees either intend to liquidate the charitable CLxmpany or to cease operations. or have
rv) realistic altemathve but to do so.
Page 8

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
THE KINGS THEATRE TRUST UMITED
Our responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assuran￿ about whether the financial statements as a whole are free
from material misststement, whether due to fraud or error, and to i&8ue a Report of the Independent Auditors
that includes our opinion. Reasonable assuran￿ is a high level of assurance, bul is not a guarantee that an
audit conducted in accordan￿ wtth ISAS (UK) will aknys detect a material misstatement when tt exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they Gould reasonably be expected to Influen￿ the economic decisions of user5 taken on thè basis of these
financial statements.
The extent to which our procedures ar8 capable of detecling irregularities. including fraud is detailed below:
From discussion wfth management and those charged with govemance irfforniation about the entity is
documented to asses5 the actmty wrthin the organisation. INe discuss management's assessment of risk in
respect of irreguLarities, fraud and going concern.
Based on these discussions and our own a5sessrrEnts we determined that the key risk areas We￿ income
re(wnttrcn in respect of cut off issues and management override conceming the size of the organisation.
We set financial statement materialty levd based on the level of inu)me. As a not for profft organisation
raising income is its primary focus which is why income was used to delennine the level of materiality. Our
overall assessment of risk was used to detennine performance malerialty at an appropriate level.
Substantive audit tests were designed after assessing and perfomiing walkthrough tests. The walkthrough
testing confimied documented systems which have been designed to act as a preventative measure against
fraud and error which appear to be operating as documented. Substantive testing tested a sample of the
population. representatNe of the population, to id8ntfy errors. The testing not identfy any mat8rial
misstatements in areas tested.
Audit substantive tests conduded rK) material errors over the key risk areas of income recognitron and
management override.
The audit considers the organisation is not exposed lo material risk of error as a resuFt of assessing laws and
regulatlons that are appropriate to the Organ￿atiOn.
Management assessed there is no going concem risk. The audit undertook a rewew of budgets, management
accounts and the r8vi8w of board minutes and carre to the same conclusK)n as manaJement.
A fiJrth8r d8scripb.on of our responsibirrties for Ihe audit of the financial statements is located on the Financial
Reporting Council's websrte at WW¥V.frc.org.uklauditLYsresponsibilities. This descriptDn forms part of our
Report of the Independent Audiiors.
Page 9

REpoErr OF THE INDEPENDEpif AUDITORS TO THE MEMBERS OF
THE KINGS THEATrE TRUST UMITED
Use of our report
This r8POrt is made solely to the charitable companrfs members, as a l>)dy. in accordance with Chapter 3 of
Part 16 of the Companies Ad 2006. Our audit work has been undertaken so that we might state to the
charttable companys member5 those matters we are required to state to them in an auditors. report and for
no other purpose. To the fullest extent pernitied by law. we do not accept or assume resFonsibility to anyone
other than the charitable company and the charitable company's members as a body, for our audit work. for
thts report, or for the opinions we have formed.
Paul Underwood (Senior Ststutory Auditor)
for and on behalF of MC Audtt Limited
ststutory Audiiors
Station House
North Street
Havant
Hampshire
P09 1QU
Page 10

THE KINGS THEATRE TRUST LIMrrED
STATEMEKf OF FINANCIAL ACTivmES
{INCORPORATING AN INCOME AND EXPENDMJRE ACCOUNT)
FOR THE YEAR ENDED 31 AUGUST 2024
2024
Total
funds
2023
Total
fijnds
Unrestrl(￿ed Designated Restrtct8d
funds
funds
INCOME AND ENDOWMEpirs
FROM
Donations and lagacies
115.442
115.442
134.424
Charitable actmties
Operath)n of the theatre
Ancillary trading
Education
2,524.754
525,291
6,400
410.128
2.934,882
525.291
6,4Tr)
2,436,391
488,309
7.726
Investsnent income
111.655
111,655
41.476
Totsl
3.283.542
410.128
3.693.670
3.108.326
EXPENDITURE ON
Charltable actlvltl88
Operatlon cf the theatre
Ancillary trading
2.925.743
172.074
2.925.743
172,074
2.370.042
158,703
Total
3.097.817
3.097.817
2,528,745
NET INCOME
Transfers betwoon funds
185.725
4.539
410,128
595,853
579,581
22
{4,539)
Net movemont in funds
190.264
410,128
<4,539)
595,853
579.581
RECONCILtATtON OF FUNDS
Total fijnds brought forniard
1.363.233
483.474
4.539
1.851,246
1,271.665
TOTAL FUNDS CARRIED
FORWARD
1,553.497
893.￿12
2,447.099
1.851,246
The notes fcffii part of these financ4al statements
Pag811

THE KINGS THEATRE TRUST UMrrED (REGISTERED NUMBER: 03983443)
BALANCE SHEEr
31 AUGUST 2024
2024
2023
FIXED ASSErs
Intangl￿e assets
Tangibk assets
12
13
2.390
384,125
293.150
386.515
293,150
CURRENT ASSErs
Slocks
Debto
Cash at bank and in harn
14
15
16
10207
145,150
3,750.690
19,095
155.925
2,970,682
3.9)6.047
3.145,702
CREDrroRS
Amounts falling due within one year
17
{1.829.630) {1.561,773)
NEf CURREpff ASSErs
2.076,417
1.583.929
TOTAL ASSETS LESS CURRENT LIABILMES
2.462.932
1,877.079
CREDITORS
Amounts falling due after more than one year
18
(15,833)
(25,833)
NEf ASSErs
2.447,099
1.851.246
FUNDS
Unrestricted furKIs:
General fiJrKI
Desi￿ated Bulldlng Restoratton fwKI
1,553.497
893,602
1.363,233
483,474
2.447.099
1,846.707
Restricted funds
4.539
TOTAL FUNDS
2,447,099
1,851.246
These financaal statements have been prepared in accordan￿ with the provisions applitsble to charitable companies
subject to the small companles regimè.
The linanaal statefnents were approved by the Board of Trustees arml authoriS￿l for issue
2 ff .. and were signed on its behalf by:
D Repton - Trustee
Tha rKJtes fom) part of these flnancial statements
Pag8 12

THE KINGS THEATRE TRUST uMrrED
CASH FLOW STATEMEKr
FOR THE YEAR ENDED 31 AUGUST 2024
2024
2023
Cash flows from operating activities
Cash generated from operations
846.759
1,203,326
Net cash p￿>VIded by operaling activibes
846.759
1,203,326
Cash flows from Investing activities
Purchase of intsnglble fixed assets
Pur&ose of tangib￿ r￿ed assets
Interest receiv8d
(2.750)
(165.P)56)
111.655
(98,715)
41,476
Net Lxsh used in investing actI￿￿beS
(56.751)
(57.239)
Cash flows from finandng actmtles
Loan repayTrents in year
(10,000)
{120,240)
Net cash used in financing aclivitses
{10.IJXI)
{120,240>
Change in cash and cash equivalents in
the reporting period
Cash and cash equivalonts at the
beglnnlng of the reportlng period
1.025.847
2.970,682
1.944,835
Cash arKI cash equivalents at the end of
the reporting period
3.750.690
2.970.682
notes fonn part of these ￿anCIal slaiements
Page 13

THE KINGS THEATRE TRUST uMrrED
NOTES TO THE CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 AUGUST 2024
RECONCILIATION OF NEf INCOME TO NET CASH FLOW FROM OPERATING ACTIVITIES
2024
2023
Not income forthe reportlng p•rkxl (as per tho Statwnenl of Flnanclal
Actfviti•s}
Adjustments for:
Depreciation charges
Interest received
Amortisation d)arges
Decreasel(In¢78ase) in stocks
De¢reasel(in¢yeasel in debtrKs
Increase in creditors
595.853
579.581
74,681
(111.655)
67,396
(41,476)
8.888
10,775
267.857
(7,391)
(54,653)
659,869
Net cash providèd by operations
846.759
1,203,326
ANALYSIS OF CHANGES IN NEf FUNDS
At 1.9.23
Cash kn At 31.8.24
Net cash
Cash at bank and in har¥J
2.970.682
780,008
3,750,6
2,970,682
780,008
3,750.690
Debts falling due ￿rythin 1 year
Debts falliro due after 1 year
(10.(NJO)
(25.833)
{10,000)
(15.833)
10.000
(35,833)
10,000
(25.833)
Total
2.934.849
790,008
3.724.857
The notes f￿n part of these finanoal ststements
Page 14

THE KINGS THEATrE TRusf LparrED
NOTES TO THE FINANCIAL STATEMENTS
FOR ThE YEAR ENDED 31 AUGUST 2024
ACCOUKnNG POUCIES
Basis of preparing the financial ststements
The financial statements of the charitable company. whith is a wblic benefft entity under FRS 102. have been
prepared in accordance with the Charibes SORP {FRS 102) 'AccountirMJ and Rerx)rting by Charities.. Statement
of Re(xJrnmended Practice applicable to dBrtttes preparing th￿r a￿￿Urts in accordan￿ y￿th the Financial
Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) {effeGttve 1 January 2019),. Financial
Reporting Standard 102 The Finandal Reporling Standard appltcable in the UK and Republic of Ireland, and the
Companies Act 2006. The ffinancial statements have been prepared under the historical (x>st convent'on.
Golng concern
The trustee directors consthr that there are no rnaterial uncertainties regarding the chariiable companys ability
to continue as a going conc￿.
Incomo
A]1 income is recognised in the Statement of Financial Activi￿ On￿ the ¢hartty has entiuement trj the funds, It
is probable thal the income will be received and the anKJunt ran be measured r81iably.
Incx)me from the box Offi￿ is indud8d nel of the payments made to prwioters.
VolunteerJ and d¢)nai8d services
Tha value of services prowded by volunteer5 IS mt in(x)Tpora18d into Ihese financial Stat￿ents.
Ilvhere g￿1$ or Servi￿ are provided to the d)￿Y as a th)nakn that would nomialty be purchased fn)m
suppliets, these &￿trIbUtIonS are indudgj in the ffinani?al slatements at an estimate based on the value of the
¢ontrlbutlon to the charity.
Expenditure
Liabilikn are recc•Jnised as axpendtture as soon as there is a logal or mnstructiV8 obfigatton committing the
charity to that experKltlurE, it is probable that a transfer of economic benefits wÈll b8 requir8d in s8tt18ment and
the amount of the obligation be measured reliably. Expenditure is a￿￿nted for on an a¢¢wals basis and
has been classified under h&2dings that aggregate all rA)st related to the category. Wh8re costs cannot be
directy attribuied to particular headings triey have been allotsted to activities on a basis (x)nsistent with ￿ use
of resourcas.
Irrecoverable VAT
Th8 Trust is partialty exempt ft)r the purFKJse VAT Iherefore Irre(X)￿ble VAT arisiry on some wrchases
is written off to the Statement of Fhanaal ACtvI￿S as it (xxwrs.
lThtsnglble fixed assets
Intangible fixed assets aro amortised on a straight line t￿lS over thelr estimated useful a￿]n￿nIC lives. which is
considered to be 5 years.
Tanglble flxed assets
Depreciation is probided at the folkjwing annual rates in order io vKite off eath asset (wer its estimaled useful
lrfe.
Freehc4d propety
Improv8ments to property
Plant and machinery
F￿lureS and fittings
Computer equipment
2% on cost
10% on cost
20% on cx)st
20% on cost
33.33% on <x)st
Indiwdual fixed assets costlng £250 or more are ￿PItalISed at C4)sL
Page 15
continued...

THE KINGS THEATRE TRusf LIMrrED
NOTES TO THE FINANCIAL STATEMEPtrs - continued
FOR THE YEAR ENDED 31 AUGUST 2024
ACCOUNTING POUCIES - cantlnuod
Stocks
Stocks are valued at Ihe Icwer of cost ar#d [￿t ￿liSable value. after making dL* 8llowanc8 ft)r obsolete and
slow nThJvlng tiems.
Taxatlon
The charity is exempt from c¥Nwation tsx on its tharilable acliviles.
Fund accountlng
Unrestricted funds b8 used in a¢>xthts with th8 chariiabla obj￿iNeS at the dismtion of the tNstees.
Designated funds a￿ set LP ￿then the Irusteas wsh to alkM2te lo 5￿ffic prc*ts.
Restricted funds can only be used for particular restricled purposes within the objects of the charity. Restrictions
arise ￿en speafied by the dornr or funds are raised for partI￿lar restslcted purposes.
Further explanation of ts naknre and PUTpose of eath fund Is inckM18d in the rK)tes to the finanoal slatements.
Pension costs and othor post-relir•m•nt beneffts
The charitable (￿MpanY operates a defined o)ntrltrJJUon penslon scheme. C￿tributIOnS payable to the
charitab18 companV5 penslon $the￿ are charged to Statement of Financia Aciivib'8s in th8 period to vthich
they rèlat8.
Financial instruments
The charity only enters into basic financial instruments trarnsactions Ihat reslrtt in the recognikn'on of financial
assets and liabiltlies lik8 trade and other accounts receivable and payable investments in sthk5 arKI sharas.
The measurement basis use tr these financial instruments is detailed bekMT.
DebtOTS
Trade and other debtors are rec¢yJnised at the ￿￿ement amount du8 aft8r any trade discount offered.
Pr8paym8nts are Va￿ed at Ihe amount kyepaid net d any l￿de discounts due.
Cash at bank & in hand
Cash at bank and in hand includes (ash held on d8kX)sit or in 8 aC￿)unL
Credltors and provisions
Creditors and provis#Th are r&Jignised where the thartlable company has a presenl obligation resultlng from a
past event that will prd)ably r8suIt in the transfer of fvnds to a third paty and the amount due to settle the
obligation be measured or estimaiad reliably. Credttors and provisions are nc*maly re(x)gnised at their
setdement amcrfjnt after alkn*ing for any trade disctiunts d￿.
Pag8 16
continuad...

THE KINGS THEATRE TRUST LIMrrED
NOTES TO THE FINANCIAL STATEMEKfs- contlnued
FOR THE YEAR ENDED 31 AUGUST 21)24
DONATIONS AND LEGACIES
2024
2023
Donalions and legacies
Grants
Donat8d servKes and facililies
52.442
58.424
61.000
15,000
15.000
115.442
134.424
t)onated serA¢es relate to IT services of £15.0(X) (2023: £15.000) provided to the charitable company without
charge during the year.
Grants received. induded in th8 aLK>ve, are as ftAIows:
2024
2023
Operatlonal grants r￿1Vable
48.000
61,(K)O
INVEsfMENT INCOIAE
2024
2023
Deposit account interest
111.655
41,476
All investment income is d8rtved from assets held in the Uniled Kingdom.
INCOME FROM CHARrrABLE ACTivmES
2024
2023
Box iJffic8 sales and
recharges
Op8ralÈon of the theats
Anrillary Trading
Ancillary trading
Education and Y(MJth i￿ome Educ￿lon
2,934.882
525.291
6,400
2.436,391
488.309
7.726
3.466.573
2.932,426
The box office sales of £2.934.882 {2023: £2.436.391) r8pr8S8nts the theatre's share of the total production
income, after payments to promotets. The gtDss pr￿l￿tiOn income is £3.714.817 (2023: £3.028.321}.
Pag8 17
ntinued...

THE KINGS THEATRE TRUST L￿￿[￿>
NOTES TO THE FINANCIAL STATEIAEltrs- conlinued
FOR THE YEAR ENDED 31 AUGUST 2024
CHARrrABLE ACTivmES COSTS
Direct
Support
CA>sts (see costs (see
note 6)
rK)t8 7)
Totsls
Operation of Ih8 theatre
Ancillary traling
2,TT6.299
172.074
149,444
2.925.743
172,074
2,948,373
149,444
3,097.817
DIRECT COSTS OF CHARrrABLE ACTtvrriES
2024
Staff ￿sts
Rates and Nvat8r
Insurance
Light arvJ heat
Bad debls
Sundries
Minor building Projects
Edu&￿10￿ ￿$ts
Training costs
Cleaning c￿sts
Routine repairs
I￿ecoVerable VAT
Big Fxoject (x)sts
Show production o)sts
Anryll8ry tradirvJ expenses
T8chnical and IT
Mark8tirg
Bank charges
D8pre¢iation
1.276.899
19.414
1.127,023
15.433
46,950
43,196
6.968
14,805
43,462
20.910
43,477
12,419
31,612
76,756
107.022
785
664.338
172.074
46.113
159,462
122.572
75.041
27.023
25.980
77.033
3,961
449.354
158.703
49.043
186,332
115.619
67.396
2.948,373
2,465,349
SUPPORT COSTS
Govemanca
Managemenl
TotaEs
Operation of the theatre
58.702
90,742
149,444
Page 18
con￿nu8d...

THE KINGS THEATRE TRUST LIMITED
NOTES TO ThE FINANCIAL STATEMEpifs- contlnuod
FOR THE YEAR ENDED 31 AUGUST 2024
SUPPORT COSTS - continued
Support costs. induded in the above. are as ftll
Management
2024
Owation
of the
theatr8
2023
Total
aCt[￿lIeS
Teleph
Po*age and stationery
Sundri8S
Health and Saf8ty
12.987
5.335
25,343
15,037
17.507
5,077
4.777
8.497
58,702
35.858
Governance ¢osls
2024
Operation
of th8
2023
Total
activities
Auditors, remuneratton
Actountancy arKJ ￿gaI fees
7.210
83.532
7.000
20.538
90.742
27,538
NEf INCOMEI(EXPENDrruRE)
N8t in(xJm8J{expenditiJre) is stated after chargitW(crediling):
2024
2023
Auditors. remuneration
Depreaation . owned assats
Website costs amortIsa￿0n
7,210
74.681
360
7,000
64,185
3.231
TRUSTEES. REMUNERATION AND BENEFITS
There ware no T￿￿te0'S receNing renvJnera1R￿ ￿ beneffts (2023: Nil) du￿ftg the year.
Page 19
continued...

THE KINGS THEATRE TRUST LIMrrED
NOTES TO THE FINANCIAL STATEMEKfs- continued
FOR THE YEAR ENDED 31 AUGUST 2024
TRUSTEES, REMUNERAlloN AND BENEFtrs - conlinued
No trusta8s (2023: Nil) were reirnbur5ed out of pocknt expen￿ tolalling £Nil (2023: £NI) during the year.
10.
STAFF COSTS
2024
2023
Wages and salarie5
so￿al security
Ernployers pension costs
1.150.363
105.312
21.224
1,038,158
71,535
17,330
1,276.899
1,127,023
The average monthty number of employees during the ￿r vrds as follow
2024
12
87
2023
11
Admini8tratiV8 Staff
Operational staff
The number of employ88s wh¢)se amployee benefft5 {exduding ￿nploYer pension o)sts) èxc68d&J £60.000
2024
2023
£60.001- £70,000
Key Management Personnel
The key management perS￿ne1 of the charitable ￿)MpanY (x)rnprises the Head of Tech arrtl Faciltbas, the
istic Director arKI the Head of People arKI Culture. The total cons%l8ratw)n paid and 8mptoyee remuneration
and beneffts of the key manag8ment per8onn81 of the tharity was £190,032 {2023'. £157.665).
11.
COMPARATIVES FOR THE STATEMEp¥f OF FINANCIAL ACTivrnES
Unrestric*ed De￿gnated
funds
Restrlcted
furKts
Totsl
funds
INCOME AND ENDOWMEKfs FROM
Donatr'ons and18gacies
134.424
134,424
Charitsble activities
operat￿ of the Iheab
Ancillary trading
Education
2.145,905
488,309
7,726
2,436,391
488,309
7,726
Investrnent incom8
41.476
41,476
Total
2.817.840
3.108,326
EXPENDITURE ON
Page 20
continued...

THE KINGS THEATRE TRUST UMrrED
NOTES TO THE FINANCIAL STATEhlEPtrs- contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
11.
COMPARATIVES FOR THE STATEMEpif OF FINANCIAL ACTIVrnES- continued
Unrestricted
Designated
funds
Restricied
Totsl
funds
Charitable activities
Operation of the thaar8
cillary trading
2.369,691
158.703
351
2,370,042
158.703
Total
Z528.394
351
2,528.745
NEf INCOMEI{EXPENDITURE)
289.446
290.486
(351)
579.581
RECONCIUATION OF FUNDS
Total funds broughl forward
1,073.787
192.988
4,890
1,271.665
TOTAL FUNDS CARRIED FORWARD
1.363233
483,474
4,539
1.851,246
IKrANGIBLE FIXED ASSErs
Website
COST
At I September 2023
Additions
24,230
2.750
At 31 August 2024
26.980
AMORTISATK>N
At 1 Septernber 2023
Charge for y8ar
24,230
360
At 31 August 2024
24.590
NEf BOOK VALUE
At 31 August 2024
2,390
At 31 August 2023
Page 21
continued...

THE KINGS THEATRE TRusf LhirrED
NOTES TO THE FINANCIAL STATEMEKfs - ¢ontlnued
FOR THE YEAR ENDED 31 AUGUST 2024
13. TANGIBLE FIXED ASSETS
Improvements
Freehold
property
ptant and
machinery
property
COST
At 1 September 2023
Additions
141.783
1,892
84.597
At 31 August 2024
141.783
161,666
1.892
DEPRECIATION
At 1 September 2023
Charge for year
31.208
2,835
50.748
10.993
1,323
378
At 31 August 2024
34.043
61.741
1.701
BOOKVALUE
At 31 August 2024
107,740
99,925
191
At 31 A￿ust 2023
110.575
26.321
569
FLXtures
and
fittings
Ccmwter
equipment
Tots
COST
At 1 September 2023
Additions
293,658
74,748
575,356
165,656
6.311
At 31 August 2024
368,404
67,267
741,012
DEPRECIATION
At 1 Septembar 2023
Charge for year
151,789
53.827
47.138
282,%)6
74.681
At 31 August 2024
205,616
53,786
356.887
NET BOOK VALUE
At 31 AugLtst 2024
182.788
13,481
384.125
At 31 August 2023
141,867
13,818
293,150
Pag8 22
contlnuad...

THE KINGS THEATRE TRUST UMtrH)
NOTES TO THE FINANCIAL STATEMEKfs- conllnued
FOR THE YEAR ENDED 31 AUGUST 2024
STOCKS
2024
2023
10.207
19.095
15.
DEBTORS: AMOUNTS FALLING DUE wrrHIN ONE YEAR
2024
2023
Trade debtors
Other debtars
VAT
28.452
91.622
25,076
56.487
83,766
15.672
145.150
155,925
16.
CASH AT BANK AND IN HAND
Within the cash balar￿e of £3.750.690 (2023: £2,970.682) is £1.433.956 (2023: £1.332.575) ring fenced in
respect of advanced ticket sales.
17.
CREDITORS: AMOUF￿s FALLING DUE WTfHIN ONE YEAR
2024
2023
Bank loans and overdrafts (see note 19)
Trade uedltors
SoGial ￿ul)fy and ottw taxes
Olher creditors
Deferred income
10.000
2S.904
19.257
340,513
1.433.956
1Q.000
59.605
19.995
139,598
1,332,575
1.829.630
1,561,773
Deferred income represents income received in advanrA for tickets fDr sFK>ws in the next financial year.
2024
2023
Brought foTWdrd
Amount r8thsed to incoming resources
Amount deferred in year
1,332,575
651,162
{3.864.262) (3.059.876)
3.965.fA3
3.741.289
Carried forward
1.433,956
1.332.575
Page 23
continued...

THE KINGS THEATrE TRUST UMTfED
NOTES TO THE FINANCIAL STATEMEiifs- conunued
FOR THE YEAR ENDED 31 AUGUST 2024
18. CREDITORS: AMOUNTS FALLWIG DUE AFTER PAORE THAN ONE YEAR
2024
2023
Bank kAns {see nota 19)
15.833
25,833
19.
LOANS
An analysis of the maturity of klans is given bd(w.
2024
2023
knounts falling du8 Wtthin one year on demand:
Bank loans
10.000
10,000
Amounts fallitvJ due bets￿n two arKI fve years:
Bank loans- 2-5 year5
15.833
25.833
20.
LEASING AGREEMENTS
Minimum lease pay￿nts under no￿(￿n￿lIable opernty leases fal due as foll(w8:
2024
2023
Wrthin on8 year
Btheen one and five yews
4.251
5.559
21.
ANALYSIS OF NEf ASSETS BEfwEEN FUNDS
2024
Total
funds
2023
Total
funds
Unr8stricted De￿gnated
funds
fijnds
FLxed assets
Current assets
Current liabililies
Long tem liabilitss
386515
3.012.445
(1.829.630)
{15,833)
386.515
293.150
3.906.047
3,145,702
(1,829.630) (1,561.773)
(15,833)
{25.833)
893.602
1,553,497
893,602
2.447.099
1,851.246
Page 24
nti￿l￿I...

THE KINGS THEATRE TRUST LIMrrED
NOTES TO THE FINANCIAL STATEMEiifs . ¢onOnued
FOR THE YEAR ENDED 31 AUGUST 2024
MOVEMEKf IN FUNDS
Net
)vement
in funds
Transfers
bel￿en
funds
At 1.923
31.8.24
Unrestricted fvnds
General fund
Designated Building Restoration fl￿1
1,363.233
483.474
185,725
410,128
4.539
1.553.497
893,602
1.848.707
595.853
4.539
2,447,099
Restrlcted funds
Feasibilty study
(4.539)
TOTAL FUNDS
1￿51.248
595,853
2,447,099
Net movement Én funds. indudad In th8 abov8 ar8 as follo
Incoming
Resour￿ Movement
expended
in fvnds
Unrestrictéd funds
General fund
Designated Building Restoration furKI
3.283.542
410.128
(3,097,817)
185,725
410,128
3.693.670
(3,097,817)
595,853
TOTAL FUNDS
3,693,670
(3,097,817)
595,853
Comparatives for mmment In funds
Net
At 1.9.22
In funds
31.8.23
Unrestricted funds
G8n8fdl fund
Desjgnated Bulldlro Restoratton fund
1.073.787
192.988
289.446
1,363.233
483.474
1,266,775
579.932
1.846.707
Restrlcted funds
Development Project Fund
Fe05ibilty study
351
4.539
(351)
4.539
4.8
{351)
4,539
TOTAL FUNDS
1.271.665
579,581
1.851.246
Page 25
continu8d...

THE KINGS THEATRE TRUST uMfTED
NOTES TO THE FINANCIAL STATEMEKfs- contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
MOVEMENT IN FUNDS - continued
Cornparative net movement in funds. IndUd￿ in the above are as foucws:
Inu)mir¥J
Resources Movement
in funds
Unrestricted funds
General fund
Designated Building Restoration fund
2.817.840
290.486
(2.528,394)
289,446
290.486
3,108,326
(2.528.394)
579,932
Restricted funds
Development Project Fund
(351)
(351)
TOTAL FUNDS
3.108.326
(2.528.745)
579,581
Buildlng Restorallon Fund
This is a d￿gnated unrestrlded fund to be used for the ￿tinUed repair and restoratbn of the theatre.
Dovelopment Project FurKI
This fund relates to the proposed DeVelop￿nt Project to take the devd4)mert of the theatre foThYard over the
next 5 years.
Transfers bat￿n funds
Transfers between funds are made to cover tha shortfall on restricted funds.
EMPLOYEE BENEFrr OBLIGATIONS
The d)arftable company operates a defir*d contr￿ut1)n stheme. Th8 (x)sts to the eharitable company for the
year was £21.224 {2023: £17.330). At the year end the ¢*aritable company £3.750 {￿23. £3.652) to the
scherne.
CAprrAL COMMrrMENTS
During the yèar the charitatle company made a financml ￿nMItMent to Wisual Digilal Lld for Ihe design of a
new ￿bsIte forthe Iheatre. A totsl of £11.000 was ￿mmItted to.
An initial Invoice was re￿IVed from Visual I￿glIal Ltd ts £2.7S) on the 5th January 2024. Therefore the
remainir¥J commitrnent at the year end was £8,250.
Page 26
cx)ntinued...

THE KINGS THEATRE TRUST UllItTED
NOTES TO THE FINANCIAL STATEMEKfs - contlnued
FOR THE YEAR ENDED 31 AUGUST 2024
RELATED PARTY DISCLOSURES
During the year. th8 Trust hired lighting equipment and made purthases totalling £406 (2023.. £52) from ITP
Lighllng knmited. a busin8ss partly owned by ftymer trustee, I Pratl. Al th8 year end, the Ttust owed £nil (2023:
£nil) to ITP Lighling. These transadions were on an ami's length comm8rcial bask8.
26.
ULTIMATE CONTROLUNG PAIUY
The ¢haritab18 CoMp￿Y is not under Ihe wntrol of another entity or any one individual.
27.
LEGAL STATUS OF THE CHARITABLE COMPANY
The Ghaiity is a company limited by guarantea and has m share catmtal. The maximum liabilty of each member
in the event of winding up is limited to £10.
SUBSEQUENT EVENT
On 30 April 2025. The lfjngs Theatre Trust Lirniled became the sole member of The New Theatre Royal
Truslees (Portsmuth) Limit￿1, effectively bringing the operalions of the Iwo theatres under wmmon control.
The merger forn￿ part of a strategic initiative to str8ngthen aTrxl enhan(E wltural offerit¥Js wTrthin the city of
Portsmouth.
As the tran&2ction occurred after tha year end. it is tr8ated as a non-adjusting subsequent evenL Acfx>rdingly.
finanaal effects of the merger have rb)t been rellected in these financial statemants.
The trustees will assess and r8WXt th8 finan￿al and operational implicatic>n5 of the merger In the financial
statements for the year erKling 31 August 2025.
Pag& 27