ROSE THEATRE TRUST (Limited by guarantee) Registered company 2288919 Registered charity 1095145 Trustees. Annual Report including Directors, Report 31 July2024
Trustees. Report The Trustees,who are also Dlrettors of the Charityforthe pUoSe5 ofthe CompanlesA¢ submlttheirAnnual Report and unauditsd Finanaal Statements for the year ended 31 July 2024. The flnanclal statements have been prepared in accordance wlth the accounting polides set out in note I to the financial statements and comply with the charitys governfing documenL the Companfies Art 2006 and 'Accounting and Reporttng by Charltles: Ststement of Recommended Prartlce - A¢¢ountlng and Reportln8 by Charitles (SORP (FRS102), second edldon Issued In January 2019)". Name of charlty Rose Theatre Tnt Charlty re8lstratloD number 109514S Company reglstratlon number 2288919 Trustees and Dlrectors Kathy Dacre [Chair] Mlchael Brlerley Adam Cooke (appolnted 18 September 2024) Loulse Doughty Slmon Hughes Peter Jolly Rona Kelly (reslgned 26 January 2024] Danlelle Salvadorl (reslgned 6 Au8USt 2024) Chrlstopher Smlth Patrick Spottlswoode Roy Stephenson Marfska Thne Carole Wanless Company Secretary Tristsn Prlce Realstered Office 56 Park Street ndon SEI 9AR Independent Ex4mlner Counterculture Partnershlp LLP Unit 115 Ducle House Dude Street Manchester Ml 2lW Structure. governance and nMnagement The Rose Theatre Tnt Is a charltsble company limited by guarantee and was Incorporated on 23 August 1988 and rÈ8iStèred k chstrity on 20 DeeÈmbÈr 2002. The chari$ governing docvmont Is its MernorJndum and Artlclos of Assocladon approved on 16 November 2023.
Trustees, Report (continued) New Trustees are invited to join the board b&sed on theirskllls. knowledge. and experience in fields whlch will asslst in the fllrtheraD of the objectives of the charity. They are appolnted by malorityvote of the Trustee5. ObJecUves and acdvfjtles The oblertlves of the charlty are to: to preserve the remalns of the Rose Theatre In the London Borough of Southwark and make them accesslble to the public,. to advance the general education of the publlc concernlng the history of the Rose Theatre and theatres and dramas In the relbrns of Queen Ellzabeth l and King lames l of England. AeveMents and perfornwice Extenslve structural reconstructlon and refurb15hment of the Rose Court office block was completed towards the end of the last financial year. Thls has enabled the Trust to brfng the hlstorlc slte back to the standard requlred for events such as open days. The maln focus of the Trust durlng the year under revlew has been to plan for ralslng funds that wlll enable It to commence the work on reallslng the Rose Revealed proJecL Thls prole¢ through a comblnadon of archaeology, conservatlon. bulldlng and deslgn. wlll create a vlsltor centre and perforniance space on the slte of the playhouse In support of our obJertEves. The Tst took dellvery of a fully costed projert reporL Includlng an archaeolo8lcal and structural appralsal at the end of July 2023. Thts workpn)vldes a flnn basls on whlch to plan for the future and gtves clarlty on next steps and relatsd cost and thnlng& Practlcal work durlng the year has made the slte flt for use by the Frlends supportgroup, the publlc and occaslonal Internal meetlngs. The Frlends of the Rose were able to revAve thetr planned events and tlckets were put on sale for a seventh Readathon In September 2024. An Inaugural Annual Rose Lerture. funded by an anonymous donor and organtsed by the TrusL was held at South Bank Unlverslty. Slr Greg Doran dellvered a mastsrful address on Tltus Andronlcus to a lar8e Ilve audlence as well as sIlficant numbers attendln8 remotely. Durfing the year, the Trust contlnued wlth an extenslve programme of well-attended Zoom weblnars on a wfide range of toplcs Ilnked to the Rose and Its hlstorlcal perlod. These events were also as a mean$ of malntalnlng the engagement of our supporters, IncludlDg many from overseas. who are not able to attend events at The Rose In person. Taken together, thls programme of events celebrates the local, natlonal, and Internatlonal Importance of the Rose slt& The Rose has condnued Its collaboratlon wlth London South Bank Unlverslry In developlng an audlo trall. Thls trail wlll tske members of the publlc on a self-guided circular walk starting and endlng at the Rose Playhouse. The audlo experfence explores the hlstorlc envlronment on Bankslde at the dme when the playhouse was operatin& The alm Is to brtrAg members of the publlc to the playhouse at a tlme when It Is not yet posslble to create a new experience for them on-te. The Rose has had advfice and ftnanclal backlng from the local Business Improvement Dlstrlrt company. Better Bankslde. who are helplng to develop buslnes5 contarts for further ndIng. Initial verslons of the software were terted during the year and an enhand version produced The current aitn Is to launch the audio trail in early 2025. The board contlnues to be supported by an Advfisory Council consisting of a wide range of indlvlduals (including ex- tntstees and representatlves from partneroryanSsatlons). The Board are gratefvl to the members of the Advlsory
Trustees, Report [continuedJ Council fortheir commitmentto the Tnt and for their supportand advice. One trustee, Rona Kelly, retlred due to ill health durlng the year. The board 55 very grateful for her contrlbution to the TrusL Fln3nclal revlew For the flnanclal yearto 31 July 2024 there was a defidt of expenditure over Income of £26,212 (2023: deflcit of 16.039). This deficit was a result of the Trust incurring expendlture on developing its capacity to ralse funds for the Rose Revealed prolert and In brlnglng the slte of the Rose to the standard required for publlc events. A major donatlon recelved in Febnry 2023 was not repeatsd In 2024, leading to a significant reduction In Income. The Trustees are grate1 for all those who donated or supported the Trusts revenue actSvlUes durlng the year. Net assets at 31 July 2024 were £44,332 (2023: £70.544). Reserveg pollcy All funds are currently unrestrlrted. The Trust alms to ensure Its work In looklng after the remalns of the Rose Theatre Is protected from the rlsk of dlsrupdon at short notlce due to a lack of funds. its pollcy Is to hold reserves representlng at least slx months average expendlture over the past two flnanclal years. The board conslders this provldes sufflclent tlme to attrart addltlonal donatlons In¢rease revenue through actlvlties and events or reduce expendlture. Rlsk management The key rlsks fadng the Trust are consolldated In the Trust's Rlsk Reglstsr. The Board perlodlcally revlews these rlsks and challenges whether the major rSsks to whlch the charlty Is exposed contlnue to be properly Identifled, revlewed, and evaluated so that the necessary steps can be taken to manage and mltlgate these rlsks. Outlook The fully-costed project revlew referred to above provlded the basls for the board to prosecute tts strategy for the Rose Revealed prolecL It has begun to seek out the substantlal sponsorshlp and new sources of Income needed to brlng the prolert to a successful concluslon. The Tnt has Invested In materlal needed to support the fundralslng campalgn and Is already In communlcation wlth varlous Interested parties and stakeholders. An element of the Trus¥s strategy is to engage wlth potentlal US fvndralsers and plan to ralse the profile of the project with key stakeholders, Includlng the Folger Llbrary and theatrlcal supporters. In preparation for thls Dame ludl Dench has recorded a powerful message ofsupport for the projecL Statement of Trustees, Responslbll ties Company law requlres the Trustees to prepare Flnanclal Statements for each finandal year, whlth glve a true and fair view of the state of affafirs of the company and of the excess of Income over eXpendIre for that perlod. In preparADg those Financlal Statements, the Trustees are requlred to: select suitable accounting polides and then applythem consistently, make judgments and esdmates that are reasonable and pNden¢ state whether appllcable accounting standards and statements of recommended practlce have been followed, subjettto aty matertal deparrures disdosed and Wiathed in the FllIanth statements:
Statement of Trustee4 Responslbll ties (continued) prepare the Flnanaal Statements on the going concern basis unless it is finappropriate to presume that the Charity wtll contlnue in operation. The Tntstees are responslble for keeping accounting record5 that disclose wlth reasonable accuracy the finandal posltlon of the cornpany and enable them to ensure that the Ffinanclal Statements comply with the Companles Act 2006. They have general responsibility for tsking such steps as are reasonably open to them to safeguard the assets of the company and to prevent and detect frdud and other irregularttles. Slgned on behalf of the board K Dacre Trustee 21 November 2024
Independent Exam Report to the Trustees on the unaudited Accounts of Rose Theatre Trust I report to the charlty trltstees on my examlnation of the accounts of the charitsble company for the year ended 31 July 2024. Responslbllltles and basls of report The Trustees. who are also DIrert0 of the Charlty for the purposes of the Companies A¢ are responslble for the preparation of the accounts in accordance wlth the requlrements of the Companles Art 2006 ('the 2006 ACV). The flnanclal statements have been prepared In accordance wlth the accountlng pollcles set out In note I to the financlal statements and comply the charlty's governlng documenL the Companies Act 2006 and "Accountlng and Reportlng by Charltles: Statement of Recommended Practlce - Accounttng and Reporting by Charfdes (SORP [FRS102). second edltlon Issued in january 2019)". Havlng sadsfled myself that the accounts of the Company are not requlred to be audlted for this year under Part 16 of the 2006 Act and are ellglble for Independent examlnatlon, I report In respert of my examlnatlon ofyour charftys accounts as carrled out under sertlon 145 of the Charltles Act 2011 ("the 2011 Acw). In carrylng out my examlnatlon, I have followed the Dlrectlons 8lven by the Charlty Commlsslon (under sectlon 145(5)0)) of the 2011 ACL Independent examlnerfs statement I have completed my &YamlnatloTh I conflrni that no materfal matters have come to my attentlon whlch glves me cause to belleve that: accoundng records were not kept In accordance wlth sertlon 386 of the Companles Art 2006,. or the accounts do not accord wlth such records; or the accounts do not comply with the relevant accountlng requlrements under sectlon 396 ofthe Companles Act 2006 other than any requlrement that the accounts glve a 'trne and falrf vtew whlch Is not a matter onsldered as part of an Independent examlnatlon; or the accounts have not been prepared In accordance wlth the Charftles SORP IFRS102). I have no concerns and have come across no other matters In connectlon wlth the examlnadon to whlch attentlon Should be drawn In th15 report In order to enable a proper understandlng of the accounts to be reache Tom Wllcox Counterculture Parthership LLP Unit 115 Ducie House Dude Street Manchester Ml 2lW
Statement of financial activities (Inthdlng Income & expenditure account) Fortheyearended 31 2024 Note Total Unrestricted ndS Incorne from: Grants and donatlons Other trading actiTAdes Interest Income 11,105 6,007 997 64,530 5,418 994 Total Income 18,109 70,942 Expendlture on: Ralslng funds Charltable artlvltles 7.885 36,436 8.563 78.418 Totsl resources expended 44,321 86,981 Net Income/(expendltur•) (26,212) (16,0393 Netmovernent In fiwds; Balances brought forward 70,544 86,583 Balances carrled forward 44.332 70.544 All actlvltles relate to contlnulng operatlons. The statement of flnandal artlvltles also complles wlth the requlrements for an Income and expendlture account underthe Companles Act 2006.
Balance Sheet at 31 lu* 2024 Registered company 2288919 Note Totsl Totsl Flxed assets Computer equlpment 1,163 CurreDtassets Debtors and prepayments Cash at bank and In hand 3,629 3,456 104 327 46.229 107,783 Credltors: amounts fallln8 due withln one year Net current assets Net assets 44,332 70,544 Totsl unre5tr1rted funds 44,332 70,544 For the year ended 31 July 2024, the company was entltled to exemptton from audlt under secdon 477 of the Companles Art 2006 relatlng to Small companles and Its members have not requlred the company to obtaln an audlt of Its flnanclal statements for the year In questlon In accordance Sectton 476. The Dlrectors acknowledge thelr responslbllltles ftlr cOmplng wlth the requlrernents of the Art wlth respect to accounting records and the preparatlon of flnanclal statements. The flnanclal statements have been prepared In accordance wlth the provlslons appllcable to cornpanies subject to the small companles, reglme. These flnanclal statements syere approved by the Trustees on 21 November 2024 and authorlsed for Issue slgned on thelr behalf by: K Dacre Dlrertor P Jolly Dlrector M Brlerley IWX . C. Director 21 November 2024
Notes {forniing part of the Financial Ststsmentsj l. Accountlngpolldes The followingaccountingpoliaes havebeen applied consistendyln dealingwith items which areconslderedmaterial In relatlon to the Charitys Financial Statements Basls of preparddon The flnanclal ststements have been prepared In accordance wlth the charltable compan$ memorandum and artlcles of assoclatlon, the Charltl¢s Act 2011 and °Accountlng and Reporting by Charlties: Ststement of Recommended Prdctice - Accountlng and Reportlng by CharStie5 (SORP (FRS102), second edltlon Issued In lanuary 2019)" the Flnandal Reportlng Standard appltcable In the UK and Republlc of Ireland (FRS 102) and the Companles Act 2006. The flnandal statements have been prepared under the hlstorlca] cost convendon. Assets and Ilabllltles are InldaIly recOlised at hlstorlca] cost or transactton value unless otherwlse stated In the relevant accountEng pollcy note(s). Golng concern bas15 The trustees have prepared analyses whlch show that the tharAty remalns a golng concern due to Income-produclng onllne events, modest regular cash outhows. anddpated donatlon4 and a suffldent level of cash reseryes. The trustees wlll contlnue to closely monltor and mana8e cash flow and belleve that the re5erve5 wlll be malntalned at a level to condnue as a goln8 conrn. Incoth8 reiource Cash donatlons are recognlsed on recelpt Donatlons are grossed up for the tsx recelvable, The tax recoverable Is accounted for as a debtor untll the Charfty reIVeS the amount Involved. Investment Income ts recogntsed on a recelwable basts. Resources expended All expendlture Is Induded on an accruals basls and Is recogntsed when there Is a legal or construttlve obllgatlon to pay for Its expendlture. All costs have been dlretdy attrlbuted or proportlonally charged to the funrtlonal categorles of resources expended In the SOFA. Expendlture Indudes any VAT which cannot be fully recovered and Is reported as part of the expendlture to whlch ts relate& Charltsble expendltyre comprlses those costs Incurred by the charlty In the dellvery of Its artivlties and servlces. It Includes both costs that can be allocated dlrertlytosuch actlvltles and those Indlrertcosts necessaryto supportthem. Flxed assets Tanglble flxed assets are InltlaIly measured at cost and subsequently measured at cost or valuatlon, net of depreciatlon and any Impalnnent losses. Depreclatlon Is recognlsed so as to wrlte off the cost or valuatlon of assets less thelr resldual values overthelr useful lfves. IT equlpment ts depredated over 2 years, 'The galn orloss arlslng on the dlsposal of an asset Is deternilned as the dlffereDce between the sale proceeds and the carrying value of the asset and is credited or tharged to surplus or deflclL Remuneratlon of Trustees None of the TeeS reIved aJJy remuneration in respect of the flnandalyearended 31 luly2024 (2023 NII). During the year no expenses were relrnbuned to T (2023 Nil). No Trustee or other person related to the tharlty had any petSODal interest in any contract or transactlon entered Into bythe charity during the year (2023: Nil).
Notes [continuedJ (fonnin8 part of the Flnancial Statements) The Trust carrles the cost of a te indemnfity Insuran policy. Staff numbers and costs No person was employed by the Charlty durlng the year. However, one person has been assistlng the Charlty on a freelance basts and the costs of thls are included under Fundraising expenditure and Theatrlcal and support Serv15. 2. Income from grants and donatlons Donailons Frlends, subscrlptlons 9,106 1,999 62,590 1.940 64.530 3. Income from other tradlD8 artlvlde8 Income from theatrlcal events Other tradlng Income 5,347 660 6,007 5,341 77 5,418 4. Cost of ralsln8 fundl Cost of theatrlcal events Fundralslng expendlture 1,178 556 8,007 7,885 S. Charltsble artlvltles Professional support to the Rose Revealed projert Archltertural servlces Insurance Local authorlty premlses Ilcen ICT Alarn] costs Elertrlclty Repalrs and expensed equlpment Health & safety Adminlstration and support serAces Website maintenance and other publlc relatlons Development of Audlo App Office expenses Independent examlnerfs fee Depredatlon Bank ChaeS and booklng fees 30,384 4.239 2.220 70 1.327 2,355 504 12,918 2,248 14,271 1,219 500 2,549 940 3,585 2,223 70 4.271 1,279 367 Z93 4,538 15.534 846 1,000 289 878 494 769
Notes (contlnuedj (fOrnng part of the Financlai Ststements) 6. Flxed assets: computer equlpment Cost at l January 2024 Acquisitions Cost at 31 December 2024 1,657 1,657 Accurnulated depredatton at l January 2024 Depreciatlon In the year Accumulated depredadon at 31 December 2024 494 494 Net book value I january 2024 Net book value 31 December 2024 1,163 7. Debtors and prepayments Trade debtors Glft Ald reclalm Prepaents 1.616 665 17 2.774 3,456 2.013 3,629 B. Credltors: amounts hllln8 due wlthln one year Trnde creditor5 Accruals and deferred Income VAT payable 36,299 862 78 2,840 220 9. Related party transaLllons There have been no related party transactlons In the reportlng perlod that requlre dlsdosure. io