2025-03-31-accounts

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Nottingham Playhouse Trust Llmlted Directors, Report and Consolidated Financial Statements 52 Weeks ended: 30 March 2025 Charity Number: 1109342 Company Number: 05384418

NorriNGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Contents . Page Number Legal and Administrative Information Executive Report Dlrectors, Annual Report Independent Auditor,'s Report 16 Consolidated Staternent of Financial Activities 2025 (Incorporating Income and Expenditure Account) 19 Consolidated Balance Sheet 20 Consolidated Statement of Financial Aclivilies 2024 (Incorporating Income and Expendlture Account) 21 Company Balance Sheet 22 Consolidated Cash Flow Statemenl 23 Notes Formlng Part of the Flnancial Statements 24

NO￿INGHAm PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Legal and Administrative. Information Registered Office: . Nottingham Playhouse Wellington Circus Nottingham Nottinghamshire NG1 SAF Rogistered Company Number: 05384418 Charity Number: .1109342 Bankers: Natwest Bank plc 16 Soulh Parade Nottingham NG12JX Audltor PKF Smith Cooper Audit Limlted Statutory Auditors 2 Lace Market Square Nottingham NG1 1PB Executive Management: Chief Executive ' Artistic Director Chief Operating .Officer Slephanie Sirr MBE Adam Penford Lee Henderson

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Executlve Report for the 52 weeks ended 30 March 2025 The macroeconomic and geopolitical environment around the world continues to be uncertain. Although inflation has settled, higher costs on everything from wood to staff National Insurance to Iransportation mean that the key challenges facing the Playhouse remain the increasing costs of producing (wood, energy costs, freelance fees, wages), and of generating sufficient income from the public. Against thls backdrop, the Executive Management and the Trustees are tremendously proud. of the achievements of Nottingham Playhouse Trust Ltd ("Nottingham Playhouse" or "the Playhouse") during the period. The team has managed to maintain its quality, reach and engagement. Our challenge is increasing costs rather than lack of engagement from audiences and participants and we appreciate the commitment of our widening catchment audience to all Ihal we do. The Executive Management and Trustees continue to navigate complex waters - dealing with inflated utility, malerial and employer national insurance without a corresponding ability to increase ticket prices at the same rates as yet. We are fortunate that significant investments made in 2015-16 to improve our energy efficiency have really paid dividends as enorgy costs have lluctuated. We continue to be an industry leader in reducing our carbon footprint and our aim in 202516 is to address the next stage of the building's renewal and improvement. We warmly welcomed the consolidation of Theatre Tax Relief announced by the Chancellor in the Spring Budget and Spending Review March 2024, which have helped to increase confidence for Producing theatres such as the Playhouse to invest in productions generating associated economic benefit for our local communities and the UK artistic community. We continue to see robust and representative engagement with prety much everything the Playhouse has to offer which is extremely encouraging. Highlights Increases in the cost of living have continued lo affect sales pattems. Overall, Noltingham Playhouse has to date managed to buck the trend and continued to meet sales targels through work that is a good nlght out and engaging but also in places challenging and eye openlng. 2024 opened with the premiere of Minority Report, based on the sci-fi novel by Philip K Dick, and co- produced with Simon Friend Productions, Birniingham Rep and Lyric Hammersmith. A r8vival of Lucy Kirkwood's modem drama. The Children, about environmentalism and a new play, Liberation Squares by Sonali Bhattacharyya, and co-produced with local theatre company. Fifth Word followed. Nottingham Playhouse achieved a very strong critical and financial response to both James Graham's new play, commissioned by the Playhouse. Punch and the first non-replica UK production of Dear Evan Hansen,. bolh directed by Artistic Director Adam Penford. Dear Evan Hansen toured throughout 2024 and 2025 including intemational dates in Singapore and Manilla. Punch transferred to the Young Vic Theatre in London at the end of the financial year- reaching sell out audiences. Our Christmas season combined our annual pantomime which this year was Jack and the Beanstalk, with The Ugly Duckling for younger audiences in the Neville Studio. The Ugly Duckling, designed by our Design Prize graduate in partnership with NTU also toured into primary schools throughout Nottingham and Nottinghamshire. The season closed with the regional Premier of Girls and Boys, the most consistenlly highly reviewed Nottingham Playhouse production of the past decade.

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Executive Report for the 52 weeks ended 30 March 2025 (contlnued) This was a strong year for award nominations and wins with a highlight being our receipt of Theatre of the Year at The Stage Awards in January 2025. We were also nominated for Access, Environmental impact and Workforce development both as an National Portfolio Organisation {NPO) and as a tourist deslination which was a strong endorsement of the work Nottingham Playhouse is doing on stage, off stage and on a national stage. David Sheilds (Punch) won the hotly contested.Best Actor in a Play award at the 2024 UK Theatre Awards. In response to Ihe updated Census for Nottingham our merged Diversity in Ihe Workforce Working Group and Anti-Racism Action Group {"ARAG'), which aims to increase the number of permanent staff from the Global Ethnic Majority, revised its target of 15 /0 Staff to 200/0. The Anti-Racism Action Group continues to work towards Nottingham Playhouse being a safe and inclusive space for all and maintains a Reporting Racism Mechanism for staff, participants. and audiences to anonymously report any inslances of prejudice. Thls mechanism is being rolled out to provide an identical outlet for all safeguarding queries or concerns. New external members of ARAG were recruited during the year to complement the existing team and keep the group as a whole genuinely representative. Our Participation work continues to grow and diveraify, running 63 ￿ar1ed programmes in a variety of art fofms and across all ages. As a Theatre of Sancluary, we are proud to offer activities with and for refugees and Asylum Seekers throughout the year. Our work wilh and for disabled people conlinues to be a central strand of aclivity and thls year saw our first deaf performer, Carolina Parker, slar as Fairy Godmother in Jack and the Beanstalk. We provide full- or part-time employment to over 144 people and to around a further 250 freelance creative staff each year. Around 100/0 of our staff team identify as neurodivergent. Audiences During the year we sold 153,720 {2024: 136,013) tickets to in person audiences at Nottingham Playhouse across 356 (2024: 325) evenls. In addition, we sold 302 (2024: 302) tickets for digital events and schools, reaching an estimated audience of 3,708 (2024: 1,048) for these events. Across all tickets (in person and digital), 18,606 (2024: 23,211) were sold at concessionary prices. Nottingham and Our Communlty In 2024125, we have continued to focus energy on improving and refiningour participalion offer to be of the highest possible impact to our community as well as being financially sustainable. We have committed a lot of lime and attention lo improving systems and processes which has successfully strengthened key areas including safeguarding and health & safety. Whilst funding for some programmes has been a challenge, resulting in a reduction of local services and some partnerships (incl. mental heatth services for example): we are thrtlled Ihat our engagement numbers have maintained strong and our offer varied with approximately 37.425 engagements across our programme this year. We have also been able to respond to demand to increase our offer in several areas..

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Reglstration No. 05384418) Exocutive Report for the 52 weeks ended 30 March 2025 (continued) Our regular programme of weekly and monthly. classes for 2024125 has included: 2 groups for Early Years, in a local library and at Nottingharn Playhouse. 8 in-house Young Companies for ages 5- 18, including Open Stage Young Company for Learning Disabled andlor Autistic young people aged 10-18 and Roolz Theatre Group for young people with experience of the care system. 14 Shine youth theatres in community settings around the city and county (includes 2 new provisions established in 2024125). The 'Homegrown' Talent Development Programme for young people aged 18-25 who are looking lo begin their career as an Actor, Director, Writer or Producer (this programme was shortlisted for a UK Theatre Award in 2024). 7 Adull groups incl. a 100-strong Playhouse Choir. a Perfomiers Ensemble, Art Club, Improvisation and Scripl Writing Groups. I'Playhouse Platform, theatre group for Learning Disabled andlor Autistic Adults. Our 'Conversation and Creative ¢afé's' for Refugees and Asylum Seekers to practice spoken English in a fun, friendly and creative setting. 'Trans Voice Workshops, and 'Trans Drama Ensemble, for the local trans community.. 5 'Encore' Programme groups, specifically for those aged 50+ incl. Dance, Play Reading, Crafting and social groups. Our annual events programme has included: National Theatre Connections Festival and Young Technicians Programme. Schools Massive {7 schools performing Shakespeare on our main stage). 3 Family Festivals during half terms. A week-long work experlence programme. Insights page for schools featuring digital resources,. packs and films. A Participation Takeover events including a shows on our main stage, alongside exhibitions and performances around the building. 2 annual tours of our Magical Major Oak production and workshop for pre-school children and their grown-ups in 12 local libraries across Nottinghamshire. We have also continued lo deliver and support: Regular school's workshops and backstage tours. A thriving Youth Board of people aged 16-25 who play a key role in our governance structure. The Nottingham Queer Arts Collective. .The speak Easy Spoken Word Collective. Streetwise Opera singing workshops for adults with experience of homelessness. We continue to work closely with core partners, and to seek new partnerships, to engage meaningfully and dynamically with local communities. These Include ChalleNGe (Cultural Education Partnership), Nottingham Music Hub, Portland College, Refugee Roots and Second chan￿ Learning Academy. Our partnership with Nottingham's two world-class universities continues to grow, including bespoke projects, placements and module input for students at all levels of study and across disciplines including Liberal Arts, English, Education, Psychology, and Theatre & Costume design.

NOTTINGHAM PLAYHOUSE.TRUST LIMITED (Registration No. 05384418) Executive Report for the 52 weeks ended 30 March 2025 (continued) Access is vitally important; we want everyone to feel welcome .here and to be able to take part in our programmes. As the comerstone of that aim, all Nottingham Playhouse participation programmes offer a number of bursary places as we are keen thal cost never proves a barrier to taking part. This,year, we also introduced a Pay-in-3 process across our programmes to spread Ihe cosl of ' termly programmes. We also run a Pay What You Can scheme for lickets to all of our produced. shows, as well as other successful ticket access schemes such as HotHouse (for. undersenled groups) and 50.'50 (free tickets funded by. donations), and a range of free talks, events and tours. Nottingham Playhouse continues its proud tradilion of taking work to areas that tradilionally have limited experience of cultural participation. We work hard to ensure people with disabilities are welcome and can aC￿sS our programmes - including employing an Agent for Change, installing access equipment. running sessions with British Sign Language (BSL) interpretation and multi-sensory sessions for children with Profound and Multiple Learning and Disabilities (PMLD). Safeguarding some of the vulnerable communities we seple is of paramounl importance to us and we have a rigorous safeguarding policy and slruclure in. place. Our Artist Development programme, Amplify, now has over 800 members and has been running for slx years.. It provides support and opportunities for local theatre-makers, at different stages in Iheir career. It offers a year-round programme of free workshops, masterclasses and one-on-one advice sessions. The . annual Amplify Festival allows local artists to showcase Iheir work and network. Through a series of workshops, talks. individual feedback sessions and the offer of free fehearsal space, we help nurture artists, skills and assist in building career pathways. We frequently partner with other regional and national initiatives to amplify our offer and provide Amplify members with specialist knowledge. Flnanclal Report The 52 weeks ended 30 March 2025 saw Ihe following results before the ellmination of inter-company balances. Nottingham Playhouse Trust Limited returned a non-consolidated surplus of £556,284 on its revenue fund activities after transfers to or from the capital fund, as shown in note 11 to the financial statements (2024: £14,394). Of this, £527.560 related to general unrestricted undesignated activilies (2024: £8.345). Nottingham Playhouse Trading Limited relurned a profit of £97,200 ('2024: £81,793), as shown in note 12 to the financial statements. The surplus generated in each period is consolidated into the results of the group. In each year it is the intention of the dir.ectors of Nottingham Playhouse Trading Ltd to gift that company's taxable profit to its parent company, Nottingham Playhouse,TTUSt Limited. During the year donations under gift aid of £80,969 {2024: £113,567). were made and recognised by the Company in Telation to the distributable profit arising for the period ended 31 March 2024. The carrying value of the investment in Ticketing Network East Midlands Ltd in 2023 was £36,082. Nottingham Playhouse Trust Ltd left the consortium wilh effect from the 25 February 2021. Members of the consortium of Ticketing Network East Midlands Ltd repaid the initial investment of £36,013 during 2024 and the carrying value of the former associate is Nil. The financial effect of this disposal is shown in note 15.

NOThINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Executlve Report for the 52 weeks ended 30 March 2025 (continued) Nottingham Playhouse Productions Limited has an accounting reference date of 30 June 2025. A Theatre Tax Relief claim of £1,180,777 has been submitted for the year ending 30 June 2025 (2024: £1,660,956), resulting in a breakeven position for the Company, as shown in note 12. The claim encompassed 14 Nottingham Playhouse productions of which 2 productions fell after the 30 March 2025. Therefore. the theatre tax relief income for the group for the period 30 March 2025 in note 3 is made up of £737,556 for productions that fell between the 1 April 2024 and 30 June 2024 along with £1,077,858 relating to the period 1 July 2024 to 31 March 2025. On 6 March 2024 the Chancellor announced a new permanent rate for Theatre Tax Relief of 400/4 (non-touring produclions). 450/0 (touring productions). to replace the planned taper from 1 April 2025 (to 350/0 and 30 % respectively) and Ihe initial planned return to pre-pandemic rates. The group had a net income before transfers of £485.899 compared to net deficit of £93,550 for the previous financial year. The net income before Iransfers cornprises unrestricted net income of £446,3S7 (202.4: net deficit £116,500) and restricted net income of £28,724 (2024: net income of £6,049). After the transfer from capital restricled funds to revenue funds of £93,608 and transfer from unrestricted funds to restricted funds of £15,208, the transfer of £298,909 from restricted to unrestricted funds and the transfer of £618,909 to designated funds. this resulted in an increase in revenue reserves to £2,824,596 of which £975,229 are unrestricted, £1.693,909 is unrestricted but held as designated reserves and £155,'458 is restricted. The purposes to which restricted reserves must be used are shown in note 20 to the financial statements. We were pleased to once again be able to present a year of work that was of extremely high quality. This was due to the hard work of the whole Playhouse team, the support of our Board and funders, and strong support from our community. Stephanio Sirr- Chlef Executive Adam Penford - Artistic Director . Date: 27 November 2025 Date: 27 November 2025

NOThINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Directors, Annual Report for the 52 weeks pnded 30 March 2025 (Continued) The directors present their annual report and the consolidated financial stalements of the group and company for Ihe 52-week period from 1 April 2024 to 30 March 2025. Structure. Governance & Management Nottingham Playhouse Trust Limited is a company limited by guarantee incorporated under the Companies Act 2006 under company number 05384418 and governed by Its Mernorandum and Articles of Association dated 18 February 2005, as amended from time to time. The Company was incorporated on 7 March 2005 and commenced to trade on 1 July 2005 after the donation of assets from Nottingham Theatre Twst Limited. . The Cornpany is also registered as a.charity with the Charity Commission under number 1109342 and operates as a not-for-profit company. The Company is governed by a Board of directors ("The Board.). who act in a voluntary capacity and are listed on page 14 of this report. They are the directors of Nottingham Playhouse Trust Limited for the purpose of company law and trustees for the purpose of charity law. The Board meets at least six times a year to set overall policy and strategy and scrutinise. matters relating to the operation of the Company. The Board has a number of Subgroups and Working Groups that report into it, to which it has delegated authority to exercise powers on behalf of the Board for certaln functions, and in addition delegated responsibility to make recommen'dations to the Board for decision. The Subgroups that support the Board . in its obligations are as follows: Rlsk and Audlt To support Directors and the Senior Management Team in meeting their legal responsibilities and énsuring the adequacy of risk management and intemal controls. Governance To support the Board in fulfilling its responsibilities by developing and recommending to the Board a set of governance principles lo apply to Nottingham Playhouse, and annually reviewing the charity commission checklist, ongoing developments and best praclice in governance affecting NP. Remuneration and Succession Plannlng To provide strategic support to the Directors and Chief Executive on remuneration, specific HR decisions and succession planning. The directors have delegated the day to day operation of the Company to the Chief Executive, (a non-Board member), who leads a senior management team comprising Ihe Artistic Director and Chief Operating Officer. and six senior managers. All senior managers are responsible either to the Chief Executive, the Artistic Director, or the Chief Operaling Officer. Lines of responsibility withln the Company are clearly drawn and communicaled to all staff members. There is a meeting structure to ensure effective communication and co-ordination of activities. Throughout this report and the financial statements, the terms 'directors' and "company. are consistently used as required by the Companies Act 2006 but should be taken to include the meaning of"trustees" and "charity" as required by the Charity Commission.

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Directors, Annual Report for the 52 weeks ended 30 March 2025 (continued) Recrultment, Appolntmont. Inductlon and Trainlng of Directors Independent members are appointed through the Company's Board recruitment procedure. Prospective candidales are assessed against a specification for the role of director and with reference to the Company's equal opportunities policy. At each Annual General Meeting one third of the directors (save for the director(s) appointed from Nottingham City Council) must stand down and offer themselves for re-election by rotstion". The directors to retire by rotation shall be those who have been longest in office since their last appointment (excluding any directors from Nottingham City Council). On appointment, new directors undergo an induction period during which their duties and responsibilities are. explained to them. They receive a comprehensive pack of infomiation including the Articles and Memorandum of Association, recenl management and slatutory accounts, budgets and forecasts for the current and future years. Board meeling minutes and a schedule of all fvlure meetings and the Company's production and education programme for the current season. They attend meetings with the Chief Executive, Artistic Director, Chief Operating Officer and senior managers to understand their responsibilities and areas of operation in the practical day to day running of the theatre. During the year, regular events are held outside of the normal rneeting cycle to enable directors to consider specific areas of the Company's operation in more detail than Board meelings can allow. Internal Control and Risk Managemènt The Board has considered the major strategic, business and operational risks which the Company faces across a number of specific areas, being: Strategic risk; Financial risk", Business continuity rlsk; Governance risk. Health and safety risk; Reputalion risk., and Compliance risk. The Risk and Audit subgroup of the Board meets up to 6 times a year to consider and review these rlsks in detail, resulting in action being recommended lo manage and mitigate these risks. Th'is subgroup is chaired by a director of the Cornpany and includes individugls who are not directors of the Company, but have relevanl skills and experience. Internal control systems and regulations are regularly tested. reviewed and amended to meet the Company's specific needs in mitigating identifiable risks to which the Company. is exposed. The Board also has a number of focused sub9roups and working groups lo support the Execulive Management. Related Parties None of the Company's directors receive remuneration or other benefit from their work with the Company in their capacity as directors. By exception. directors may receive remuneration for any work they perform which is over and above that completed in their capacity as a director.

NorriNGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Directors. Annual Report for the 52 weeks ended 30 March 2025 (continued) The Company has a very close relationship with Nottingham City Council, which nominate a director but now no longer provides a grant to assist the Company to cary out its charitable objectives. It is hoped this funding can be reinstated when the City Council's financlal stability improves. The Company owns 100% of the equity of Nottingham Playhouse Trading Limited and Nottingham Playhouse Productions Limited; both companies are registered in England and Wales. The principal activity of Nottingham Playhouse Trading Limited is to ensure the effective operation of the bar and community space at the Playhouse. The Trading Company was incorporated on 2 December 2011 and commenced trading on 6 January.2012. Nottingham Playhouse Productions Limited was set up in October 2014 and is Ihe producing company for all Nottingham Playhouse in-house productions. The consolidated financial statements include the appropriate proportion of the activilies of the three companies as set out in noles 1(c) and 12 to the financial statements. Alms. Strateglos and A¢hlev•mont8 The Company's objectives are the advancement of education by; the production of plays, ballets, operas, musicals, shows and other productions of artistic or educational value; the encouragement of artistic understanding and appreciation; the promolion of education and training in and about the arts., and the advancement of public knowledge and understanding of the arts in relation to drama, literature, music, mime, singing and dancing. The Misslon of the Company Is: "At Nottingham Playhouse we make bold and thrilling thealre. It is world-class, made in Nottingham and as diverse as our community." In shaping the objectlves for the year and planning future activilies, the directors considered the 2020 Charity Govemance Code and the Charity Commission's guidance on public benefit, including the guidance on public benefit and fee charging. The Company relies on grants and admission charges to theatre productions and facilities hire charges to cover its operating costs. In setting the level of these prices, including COn￿ssIOnS and offers and charges, the directors give careful consideration to the accessibility of the theatre lo those on low income?. The Govemance Subgroup will review the updated 2025 Charity Governance Code and update the self assessmer)t based on the 2020 Charity Governance Code. The strategies employed to achieve the Company's aims and objectives are to: present a diverse range of theatre productions for the enjoyment and education of the community within the city and county boundaries and further afield. offer opportunities for the local community to get involved in a range of arts activities by exploring their own creative abilities. 10

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Directors, Annual Report for the 52 weeks ended 30 March 2025 (conlinued) provide professional thealre facilities for amateur and professional groups to perform for their own enjoyment and personal development and the enjoyment ot the local community. involve local schools and young people in.the arts by provlding theatre productions suitable for families and different age groups, providing the help and encouragement to produce their own theatre productions, and providing support and, teaching for Arts Council award schemes as a first step to pursuing a career in Ihe arts; and involve the range of ages. cultures and disabilities present in the local community by programming presentations by, with and for all such groups of people. To put these stralegies.lnto action, Ihe Company continues to stage at least six of its own productions annually, .using' in house staff departments which include set construction and painting. props, wardrobe, stage management and technical sound and lighting. Some of these are c(Fproductions with other producing theatres to ensure a wider audience for its work and to achieve production economies of scale. The Company presents a varied programme of work by leading theatre, comedy, dance and music performers from the UK and abroad, as well as providing facilities for emerging creatives, stage and dance schools. The Youth Thealre.activities cover separate age groups from 2-18 and offer a wider range of suilable actlvities. Funded entirely by donations SHINE now funds thirteen free drama groups across the city and county led by the Playhouse team and reaching some ofthe most deprived wards in Europe. The Company's programme of activities is designed to bring a wide range of arts aclivities to the local community, of all ages and abilities, and to encourage attendance and involvemenl in them by making them affordable and accessible to all. Bursary places have been rnade available for all participatlon activities to ensure that flnancial barriers are minimised. Future Plans The continuing cost-of-living crisis makes our business model more challenging. However, keeping financial access points has allowed us to maintain ticket sales, and Ihe macro environment has nol diminished our ambition. We need to invesl in our building our aim is to site as many activities as possible on site, including rahearsals, workshops and corporate events. As a Grade 2" lisled building our aim is further to fundraise to better maintain that heritage asset in partnership with Historic England. During early 2025 we commissioned a full Conservation Management Plan for the Playhouse lo. plan and then chart its development over the coming decades. We have implemented changes to our staffing structure to ensure resilience. We continue to develop our access and equglity, diversity, and inclusion work. This is evidenced by our Anti Racism Action Group, our leadership role across the City in Equality, Diversity, and Inclusion, and by a long . standing comrnitmenl to creating work with, by and for people with disabilities. We contlnue to advocate for Ihe power and impact of culture in our clty and new combined Local Authority region. We continue to work in strategic partnership with our cultural conlemporaries across the city.

NOThINGHAM PLAYHOUSE TRUST LIIMITED {Registration No. 05384418) D6rectors' Annual Report for the 52 weeks ended 30 March 2025 (continued) We continue to attract renowned writers, actors, directors, and other theatre makers to the Playhouse., to the Joy of our audiences. The work continues to attract a high level of local and nalional p.rofile and is favourably reviewed. Our productions often have a life beyond the Playhouse both in the UK and overseas. Future projecls in the pipeline look set to continue this pattern and we are excited about creating more bold, entertaining. and commercially successful theatre in the future, alongside playing gn essential role in th8 civic life of the city and region. As part of the Trusfs commitment for Nottingham Playhouse to remain a full. producing theatre (reilerated at Board Away Days in 2025) it has taken over control of a new building workshop and storage site. This delivers on the Trust's commitment to rnaintain the talent pipeline in creative, technical and craft professions that serve the wider industry in sel design, construction, painting, adaptation and training. Further to this the new workshop facilitates the Playhouse's commilment to the Theatre Green Book. Theatre Green Book UK is the grassroots initiative that sets common standards for sustainable thealre across all areas of theatre practice and operation aimed at supporting the UK theatre sector lo reach net zero by 2030. By providing storage space both for the Playhouse to be able to reuse theatre building materials, for whole sels lo be stored prior to further louring or revival exploitation and for other theatre producers to storé Iheir scenery the Trust delivers Theatre Green'book and generates additional Income to financially support the creation of the new workshop. Whilst in its early stages this represents a material outlay, the longer-term benefits are considerable and enable the Playhouse lo produce work more efficiently and cosl effectively Ihan commissioning extemal commercial builds whilst simultaneously playing our part in building and maintaining the specialist skills needed by the Trust and the industry more widely. We remain a company that is committed to delivering careers not just jobs. Financial Review A review of the Company's activitles during the period is contalned in the Executlve Report on page 6 of these financial statemenls. Reserv•s Policy In accordance with Charity Commission guldelines. the Company is requlred to ensure the sustalnabillty of the organisation and maintain operating reserves to offset the impact of unforeseen events and operating cash flows. The Board recognises that the establishmenl of a designated reserve fund is necessary not only to the health of our future existence but lo the development of the artistic aspects of the theatre's life and role of the audience therein. The events of the last few years have re-enforced the importance of reserves in retaining the Playhouses position. For the Company to plan effectively and lo establish a safety net against unforeseen eventualities the reserves policy, it is deemed appropriate to hold a designated reserrfe fund of a minimum 3 months, operating costs. currently £1.143,541. based on current budgets. The designated reserve fund currently stands at £1,693,909. The fund is available for the purposes of: Absorbing potential unbudgeted income shortfalls, particularly in relation to box office if audience confidence does not return to the level anticipated. Absorb significant unbudgeted cost inflation, whilst largely protecting ticket prices (at a time of unprecedented economic uncertainty and pressure on affordability). Cover any significant unexpected costs not in the annual budget. Provide liquidity to cover any delay in receipt of grant or other income. Ensure there are reSoUr￿S avoilable for essential capital replacements and investments. 12

. NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Directors. Annual Report for the 52 weeks ended 30 March 2025 (continued) Available reserves are our unrestrictedldesignaled funds not already invested in fixed assels or committed for other purposes. Unrestricted funds are funds which are freely available to be spent in Ihe furtherance of the theatre's objects. Designated funds are a class of unrestricted funds, being funds thal have been earmarked for a particular purpose; however,.the designation is an administrative one only. and does not restrict legally how the funds can be spent. In effect, these available reseNes would be our net current assets (cash, or items that can be converted into cash quickly, less liabilities that require payment) that are not held in restricted funds (where donors have specified.the use to which the funds must be spent) or which have othepwise been committed. The release of any portion of the designaled reserve other than for the purposes set out above would require Board approval. In the current economic climate, the Board recognises that whilst building reserves further. may remain desirable, relurning a surplus in each financial year is challenging. As a result, the Board has budgeted for the Playhouse to make a small deficlt In 2025126. Employees and Employment Policy The Directors are graleful to the staff and artists who work for the Company. The success of the Company relies on Iheir expertise. The Board is commltted to a policy ofequal opportunity in its employment practlces and creating a workforce representative of the diverse communities it works with. Th8 Company aims to ensure that no potential or actual employee receives more or less treatment on the ground of, for example race, colour, ethnic or national origins, mar5tal status, sex, sexual orientalion, age, disability or religious beliefs. In January 2023 the Company set up an Anti-Racism Action Group to look at the wider culture and environment at Nottingham Playhouse,and lo develop the Company's Anti-Racism Action Plan. This has now been merged with the Diversity in the Workforce working group as referenced in the Executive report. The Group advises the Executive and Board of Trustees on matters of Equality, Diversity, and Inclusion with the aim of ensuring that that the Company is a safe and fully representative organisation. .The Company is part of Parents and Carers in Perfomiing Arts (PIPA) and now defaults to advertising rol8S as Job Share, Flexible Working or available for Remote Working. We have analysed all roles according to this framework. We are supportive of parents and carers, needs and accommodate unexpected changes lo their working pattem wherever possible. We also offer unpaid leave to staff wanting to take up opportunities for CPD elsewhere - this might be working in another industry such as film or taking up a particular personal challenge. The Company has a Positive Action Recruitment Policy In recognition of the fact that people from certain communities are under-represented in its workforce and across the industry as a whole. The'company is reating a safe and secure environment for everyone working at Nottingham Playhouse. We are committed to the UK TheatrelSOLT Ten Principles to encourage safer and even rnore supportive working practices in theatre and have signed up to Ihe Old Vic. Guardians. programme. 13

NOThINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Directors, Annual Report for the 52 weeks onded 30 March 2025 (continuod) , Directors The directors serving during the year and since the year end were as follows: A Farr, Chair A Batty D Russell N Sharma (Resigned 23 May 2024) A Bayley. M Aldrich A Almelda (Resigned 27 March 2025) D Barter N Gasson-McKinley A Whittington R Harcourt H Kalsi R Rodriguez-Fernandez (Resigned 4 December 2024) C Smith R Valentine (Appointed 23 May 2024) B Wakefield (Appointed 5 December 2024) J Alvarado-cruz (Appolnted 22 May 2025) S Bazza2 (Appointed 22 May 2025> Dlrectors, re8pon8ibilities In relatlon to tho finariclal 8tatom•nt8 The trustees (who are also directors of Nottingham Playhouse Trust Limited for the purposes of company law) are responsible for preparing the directors, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees lo prepare financial statemenls for each financial year, which give a true and fair vlew of the state of .affairs of the charitable company and the group and of the incoming, resources and application of resources, including the income and expenditure, of the charitable company and the group for that period. In preparing the financial stalements, the trustees are required to: select suilable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP (FRS102>; make judgements and estimates that are reasonable and prudenl. stale whether applicable UK accounting slandards (FRS102> 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 charitable company will continue in operation. The trustees are responsible for keeping adequate accounting records that disclose with reasonabla accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statemenls comF>ly with the Companies Act 2006. They are also responsible for safeg.uarding the assets of the charitable company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The trustees are responsible for the rnaintenance and integrity of the corporate and financial information Included on the charitable company's website. Legislation.in the United Kingdom governing the preparation and'dissemination of financial stalements may differ from legislation in other jurisdictions. 14

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Directors. Annual Report for the 52 weeks ended 30 March 2025 (contlnued) Statement as to disclosure to our auditors In so far as the trustees are aware: there is no relevanl audit infonnation of which the charitable company's auditor is unaware; and the Irustees have taken all steps thal they ought to have taken lo make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. Audltor The auditors. PKF Smith Cooper Audit Limited, wlll be proposed for ￿aPPoIntMent in accordance wlth section 485 of the Companies Act 2006. Signed on behalf of the directors A Farr Chair Approved by the dlrectors on 27 November 2025 15

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Independent Auditors Report to the members and trustees of Nottingham Playhouse Trust Llmtted Opinion We have audited the financial. statements of Nottingham Playhouse Trust Limited (the 'parent charitable company,) and its subsidiaries (the 'group') for the 52 weeks ended 30 March 2025 which compnse the consolidaled statement of financial activities, the consolidated balance sheet, the company balance sheet, the consolidated statement of cash flows and the related notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financi81 Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praclice). In our opinion the financial statements: give a true and fair view of the state of.the group's and parent charitable company s affairs as'at 30 March 2025. and of the group's incciming resources and application of resources, including its income and expenditure, for the year then ended; have been properly prepared In accordance. with Uniled Kingdom Generally Accepted Accounting Praclice: and have been prepared in accordance with the requirements of the Companies Act 2006 and Charities Act 2011. Basls for opinion We conducted our audit in accordance with Intemational Standards on Auditing (UK) (ISAS (UK)) and applicable law, Our responsibilities under those standards are further described in the auditor responslbllities for the audit of the.financial statements section of our report. We are independenl of the .group and parent charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Slandard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our oplnion. Conclusions relating to going concern In ouditing the financlal statements, wè have concluded that the trustees, use of the golng concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have perfomied, we have not identified any malerial uncertainties relating lo events or conditions that, individually or collectively, may cast significanl doubt on the group and parent charitable company's ability to continue as a going concem for a period of at leasl twelve months from when the. financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect lo going concem are described in the relevant sections of this report. Other information The other information comprises the information included in the executive report and trustees. annual report. other Ihan the financial statements and our auditor'è report thereon. The trustees are responsiblé for the other information. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. 16

NorriNGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Our responsibility is to read Ihe olher information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audlt or olherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required to determine whether this gives rise to a malerial misstatement in the financial statements themselves. If, based on the work.we have p.erformed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters described by the Companles Act 2006 In our opinion, based on the work undertaken in Ihe course of the audit: the information given in the executive report and the trustees, report for the period for which the financial statements are prepared is consistent with the financial statements; and the executive report and the trustees, report have been prepared in accordance with applicable legal requirements. Matt6r8 on which we aro required to report by exceptlon In the light of our knowledge and understanding of the charitable company and its environment obtained during the course of the audit; we have not identified material misstatements in the executive report and trustees, report. We have nothing to report in respect of the following matters in relation to which Companies Act 2006 requires us to report to you if, in our opinion: Ihe parent charitable company has not kept adequate and sufficient accounting records, or returns adequate for our audit have not beèn received from branches not visited by us; or Ihe parent charitable company financial statements are not in agreernenl with the accounting records and or retums; or certain disclosures of Trustees, remuneration specified by law are not made; or we have not received all the information and explanations we require for our audit. Responsibilities of trustee8 As explained more fully in the trustees. responsibilities statement, the trustees {who are also the directors of the parent charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that Ihey give a Irue and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assesslng the group and parent charitable company's ability to continue as a going COn￿M, disclosing, as applicable. rnatters related to ' going concern and using the going concem basis of accounting unless the trustees either intend to liquidate the group or parent charitable company or to cease operations, or have no realistic alternative but to do so. . Auditor responsibilitles for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free frorn material misstatement, whether due to fraud or error, and to issue an auditor's report Ihat includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAS {UK) will always detect a material misstatement when it exists. Misstatemenls can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions.of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above. to detect malerial misstalements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below: 17.

NO￿INGHAm PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Based on our understanding of the group and industry, we identify the key laws and regulations affecting the group to include compliance with the Charities Act 2011 and Charity Commission regulations. We identified that the principal risk of fraud or non-compliance with laws and regulations related to: Management bias in respect of accounting estimates and judgements made; Management override of conlrol; Posting of unusual journals or transactions. We focussed on those areas that could give rise to a material misstatement in .the Group's financial statements. Our procedures included, but were not limited to: Enquiry of management and those charged with governance around actual and potential litigation and claims, including instances of non-compliance with laws and regulations and fraud. Reviewing rninutes of meetings of those charged with governance where available: Reviewing legal expenditure in the year to identify instances of non-compliance with laws and regulations and fraud; Reviewlng financlal statement disclosures and testing to supporting documentalion to assess compliance with applicable laws and regulations; Perfonning audit work over the risk. of management override of controls, including testing of joumal entries and other adjustments for appropriateness, evaluating the business rationale of significant transaclions Outside the normal course of business and reviewing accounting estimates for bias. It is the primary responsibility of management, with the oversighl of. those charged with governance, to ensure that the entity's operations are conducled in accordance with the provisions of laws and regulations and for the prevention and detection of fraud. Because of the inherent limitations of an audil, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulalion. This risk increases the more that compliance with a law or regulation is removed from the events and transaclions reflected in the financlal slatements, as we will be less likely to become aware of instances of non- compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. A further at: www.frc.or description of our responsibilities is available on the FRC'S . uklauditorsres onsibilities. This description forms part of our auditor's report. websile Use of our report This report is made solely to Ihe charitable company's trustees. as a body, in accordance with Chapler 3 of Part 16 of the Cornpanies Act 2006, and lo the charitable company's trusteès, as a body. Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so thal we might state to the charitable company's truslees those matters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permltted by law, we do not accepl or assume responsibility to anyone other than the charitable company and the charitable company's trustees as a body, for our audit work. for this report, or for the opinions we have formed. QLF &DiL- Cw LknK Sarah Flear (Senior statutory audilor) for and on behalf of PKF Smith Cooper Audit Limited 2 Lace Market Square Nottingham, NG1 1PB Date. ILLLLlf 18

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Consolidated. Statement of Financial Activities (Incorporating Income and Expenditure Account) for the 52 weeks ended 30 March 2025 unrestrict￿ Unrestrlcted Restricted Rev•nuo Deslgnated Revenue Funds Funds Funds Total Restri¢t•d Revenue Capital Funds Funds Total 2025 Not• lncome.and endowments from: Donalions and legacies Other trading activities Investment income 48,560 1.140.364 13,351 95.475 144,035 1,140,364 13,351 144,03S 1,140,364 13.351 1,202.275 95,475 1,297,750 1,297.750 Income from charltable activities 7,318,418 104.748 7,423,166 10,818 7,433.984 Total In¢om• 8,520.693 200.223 8,720,916 10,818 8,731,734 endlture on: Raising funds Other 5.628 752,528 5,628 764,391 5,628 764.391 11,863 758.156 7,287.811 28,369 11.863 159,636 770.019 7,447.447 28,369 770,019 7,447,447 28,369 Charltable activiti•s Governance costs Total expenditura 8.074.336 171,499 8,245.835 8,245,835 Net Income before associates and transfers 10 446,357 28.724 475,081 10,818 485.899 Net Income before transfers 446,357 28,724 475,081 10,818 485,899 Transfers bebween funds 20 (241,600) 618,909 (283,701) 93,608 (93,608) Net mov•monts In funds 204,757 618,909 {254,977) 568.689 (82,,790) 485.899 R•conclllatlon of funds Total funds brought forward at 1 April 2024 21 770,472 1.075.000 410,435 2.255,907 1,438.860 3,694,767 Total funds carried forward at 30 March 2025 21 975,229 1,693,909 155.458 2.824,596 1,356,070 4,180.666 The slatement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 24 10 45 form part of these financial statements 19

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Consolidated Balance Sheet as at 30 March 2025 2025 2024 Notes Fixed.ass•ts Tangible assets - Heritage assets Tangible assets- Other assets 13 13 740.704 1,936,912 757,822 2,033,744 2,677,616 2,791,566 Investmtnts 15 Current assets Stocks Debtors Cash at bank and in hand 17 18 19.014 1.483.491 1,969,109 20,872 2,485,665 703,248 3,471,614 3,209,785 Cr•dltors due within one year 19 (1.891,186) (2.096.618) •t curr•nt a88ets 1,580,428 1,113.167 Total ass•ts1•88 curr•nt Ilabllltles. 4,258,044 3,904,733 Cr￿ltorS du• after more than one yoar 19 (77,378) (209,966) Net as8•ts 4,180,666 3.694,767 Capltal & reservo8 Unrestricte(I funds 2.669.138 1,845,472 Restrlcted lunds 20 1,511,528 1,849,295 4,180,666 3,694.767 The financlal. statements were approved by the directors and authorised for issue on 27 November 2025 and are signed on their behalf by: A Farr Chair A Batty Director qt4 The notes on: pages 24 to 45 form part of these financial statemenls 20

NOThINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Consolidated Statement of Financlal Activities (Incorporating Income and Expenditure Account) for the 52 weeks ended 31 March 2024 Unrestricled Unrestricted Revenue Designated Funds Funds Restricted Revenue Funds Total Revenue Funds Restricted Capital Funds Total 2023 Not8 Inco fr Donations and legacies Other trading activities Investment incorne ndowments 66,466 1.022.406 16,053 35.764 102,230 1,022,406 16,053 102,230 1,022,406 16,053 1,104,925 35.764 1,140,689 1,140,689 Income from charitable aclivities 4,634.553 228,84.9 4,863,402 16,901 4,880,303 .Total income 5,739,478 264,613 6,004.091 16,901 6,020,992 Ex Raising funds Other 5,379 624,575 5,379 624.575 5,379 624,575 629,954 5,208,221 17,803 . 629,954 5,466.785 17,803 629,954 5,466,785 17.803 Charitable activities Governance costs 258,564 Total expenditure S,855,978 258,564 6,114,542 6,114,542 Net income before assoclates and transfers 10 (116,500) 6,049 (110,451) 16,901 (93,550) Net income before transfers (116,500) 6,049 (110.451) 16,901 (93,550) Transfers beiween funds 20 93,071 93,071 (93,071) Net movements in funds (23,429) 6,049 , (17,380) (76.170) (93.550) Reconciliation of funds .Total funds brought ft)rward at 2 April 2023 21 793.901 1.075.000 404.386 2,273,287 1.515.030 3,788,317 Total funds carried forward at 31 March 2024 21 770,472 1,075,000 410,435 2.255.907 1.438,860 . 3,694,767 The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities. The notes on pages 24 to 45 fomi part of these financial statements 21

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Company Balance Sheet .as at 30 March 2025 2025 2024 Notes Fixed assets Tangible assets - Heritage assets Tangible assets - Other assets 14 14 740,704 1,935,914 757.822 2,031,104 2,676,618 2,788,926 Investments 16 Current assets Stocks Debtors Cash at'bank and 1n.hand 17 18 1,208 1,497,774 1,824,084 1,105 2,500,116 582,928 3,323.066 3,084,149 Crodllorn due wlthln on• y•ar 19 (1,832.148) {2.046.448) Not curr•ni 8s8ots 1,490,918 1,037,701 Total assets less current liabilltle8 4,167,539 3,826,630 Cr•dltor8 dua after more than one yoar 19 (77,378) (209,966)" N•t a88•ts 4,090,161 3.616,664 Capital & r•80rv Unrestricted funds Restricted funds 2,578.633 1,511,528 1.767.366 1,849,298 20 4,090,161 3.616.664 The financial statements were approved by the directors and authorised for issue on 27 November 2025 and signed on their behalf by: A Farr Chair Oll£,, A Batty Director The notes on pages 2410 45 form part of these financial statements 22

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Consolidated Cash Flow Statement for the 52 weeks ended 30 March 2025 2025 2024 Not• Cash from operating activiti08 23(a) 1,487,019 {423,736) Cash flow8 {u8ed In)Ifrom Investing activities Purchase of tsngible fixed assets Return of Investment from associated undertaklng 13 23 (b) (111.158) {162.442) 36,013 Cash used in investlng actlvltles (111.158) (126.429) Cash flow8 (used In>lfrom financlng actlvltles ' Increase l (decrease) in borrowings 19 (110,000) (110,000) Cash used In flnanclng actlvlll•8 {110,000) (110,000) Decr8ase In, cash and cash equivalents in the year 1,265,861 (660,165) . Cash and cash equivalents at the beginning of the year 23 (c) 703,248 1,363,413 Total cash and cash •qulvalents at the end of the year 23(t) 1,969,109 703,248 ,The notes on pages 24 to 45 form part of these financial statements 23

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming part of the financial ststements for tho 52 weeks ended 30 March 2025 1 Accounting policies Nottingham Playhouse Trust Ltd is a company limited by guarantee In England and Wales and registered charity in England. In the event of the charity being wound up the liability in respect of the guarantee is limited to £1 per member ol the charity. The address of the.registered office is given in the charity infomlation on page 2 of these financial statements. The nature of the charity's operalions and principal activities are detailed on page 10 of these financial statements. The prlnclpal accounting policies adopted, judgements and key sources of estimalion. uncertainty in the preparation of the financial statements are as follows: (a) Basis of preparatlon The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Stalement of Recornmended Practice applicable to charities preparing their.accounts in accordance with Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (issued in October 2019) - (Charities SORP (FRS 102)). the Financial Reporting Standard applicable in Ihe UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Nottingham Playhouse Trust Limited meets the definition of a public benefit entlty under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless othenhiise stated in the relevant accounling policy note(s). The financial statements a￿ presented in sterling which is the financial currency of the charity and rounded to the nearest £1. (b) Golng Concern The financial statements have been prepared on a going concem basis under the historical cost convention. As In prior years the Company's future existence Is dependent upon the financial success of future productions, on the continued support of the grant aiding bodies and on the continuation of Theatre Tax Relief. The Cornpany's largest grant comes from Arts Council England,. Nottingham Playhouse was successful in securing funding for 2023-2026 as part of the National Portfolio. Arts Council England is extending its current National Portfolio to 31 March 2028, ana d anew National Portfolio will then begin on 1 April 2028. As an organisation in the current portfolio, Nottingham Playhouse has applied for.funding lo cover the 2027128 year through a non-competitive process. This was a shift from the original plan, which was to have a new portfolio beginning 2027. As a Theatrical Production Company under S1217FC of the Corporate Tax Act 2009, the Company is entitled to Theatre Tax Relief on core expenditure. being expenditure on activities involved in producing a produclion (including exceptional running costs), and closing the production, irrespective of the income subsequently generated by that production. As a temporary measure to have beneficial outcomes for the theatre sector in the UK'S economic recovery from COVID-19, the govemment announced a rise in the rate of corporation tax relief provided by Theatre Tax Relief. The rate increase was intended to last for two years and five months beginning from 27 October 2021, however this was inilially extended for a further Iwo years to March 2026 but become permanent on 1 April 2025 with reduced rates at 40 % and 45 % for louring. The rises apply where production activities commenced on or after 27 October 2021 and before 1 April 2025. 24

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming part of the financial statements for the 52 weeks ended 30 March 2025 (continuod) The UK has faced significant economic uncertainty in recent years. Although the Consumer Price Index (CPI) inflation rate, as reported by the Office for Nats'onal Statistics (ONS), decreased significantly during the year. it is not expected to reach Ihe government's long-term target of 2.000/0 until 2026. Currently the rate has increased to 3.80/0. as compared to 3.50/0 in April 2025. To mitigate the risk of inflationary spikes, the Bank of England is anticipated to implement further Guts to its current base rate of 4.000/0. Additionally, .Ihe increase in employers, National Insurance conlributions from April 2025 will raise labour costs for businesses. potentially impacting unemployment rates. Furthermore, the US administration's decision to impose import tariffs on affected countries - along with ongoing geopolitirAI tensions (including conflicts in the Middle East and the Russia-ukraine war) could disrupt global supply chains, further compounding economic challenges. These factors collectively elevate the risk Ihat discretionary consumer spending may reduce due to rising inflation, declining income levels, or higher unemployment. The company will continue lo monitor the effect these macroeconomic factors have on both income and costs and therefore on the performance of the company Having considered Ih8se matters, along with the current forecast performance of the Company and Group, the directors have a reasonable expectation that the Company and the Group will be able lo meet their liabilities as they fall due for a period of at least Iwelve months and have therefore prepared the financial statements on a going concern basis. (c) Bas18 of con8011datlon The financial statements consolidale the results of the Company and ils wholly owned subsidiaries Nottingham Playhouse Trading Limited and Nottingham Playhouse Productions Limited on a line-by- line basis as required by FRS 102. Prior to Its disposal, the results of the Company's 250/0 holding in its associate company Ticketing Network East Midlands limited were included in the financial statements based on the net equity melhod in accordance with Charities SORP FRS 102. (d) Fixed assets and depreclation Fixed assets are included at Iheir original cost, net of depreciation. Capital items of less than £500 are written off as repair expenditure in the year of purchase. Depreciation is Èalculated so as to write off the cost of tangible fixed assets. less Ihere eslimated residual value, in equal instalments over their estimated useful economic lives as follows: Sky Mirror and Djanogly Playground Leasehold improvements Heritage Lottery project Equipment and fixtures and fittings Motor vehicles Short life equipment 40 years 10- 30years 10 years 4- 10 years 4 years 1-4years 25

NOThINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes fonning part of the financial statements for the 52 weeks ended 30 March 2025 (continued) (e) Herltage assets The Sky Mirror and Djanogly Playground are considered to be heritage assets and are reported in the balance sheet at original cost less accumulated depreciation. It is the Company's policy to maintain its heritage assets in order to preserve their artistic and cultural value and these maintenance costs are charged through the Income and Expenditure Accounl when incurred. The residual value of Ihe Sky Mirror has been determined to be equal to.the day one cost. It is the view of the directors that there are no legal restrictlons over the sale of the Sky Mlrror. However, due to its artistic significance, the Sky Mirror would only be sold in exceptional circumstances and is expected lo only be done so with the agreement of the organisations that provided grants towards the original purchase and installotion. (f) Stocks and work in progress Stocks and work in progress are valued at the lower of cost and net realisable value. (g) Incoming resources Voluntary income Includes all .donatSons and gifts that are of a general nature, recognlsed on a receivable basis. Income from activities for generating funds include premises hire and event income, sponsorship and commerclal Irading income and is ￿CogniSed on a receivable basis. Incoming resources from charitable activities includes all income deriving from theatre performances provided to the Company's beneficiaries and performance related grants received under contracl. As Ihe Company has cultural exemption status for VAT, box office recelpts are exempt from VAT. Income from theatre admissions is included in incoming resources in the period in which the relevant show ends. Income from theatre admissions for shows which had not laken place at the year-end is included in creditors as deferred income. Income from Co-Productioris.is recognised in the period in which thé relevant show run ehds, for shows which had not taken place at the year-end this is included in creditors as deferred income. Revenue and capltal grants are recognised in the year in which the Company becomes entitled lo receive the grant. Investment Income comprises bank inlerest and is recognlsed on a receivable basis. (h) Resources expended All expenditure is accounted for on accruals basls Inclusive of VAT and is recognised when a liabilily is incurred. Expenditure which is directly attributable to specific activities has been included in the appropriate category. Expenditure incurred on premises and central support functions has been apportioned across categories on the basis of an estimate of the premises volume space and the full-time equivalent staff establishment. Input VAT that is irrecoverable under a partial éxemption calculation is apportioned between charitable activities and other expenditure 61.39. 26

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming part of the financial statements for the 52 weeks ended 30 March 2025 (continued) Fundraising trading includes all costs Incurred in trading activities and maintainin9 and securing sponsorship. Charitable activities include costs of staging theatre productions and educational activities. The cost of theatre Productions is included in resources expended in the period in which the relevant show takes place. The cost of theatre productions which.had not taken place at the year-end is included in debtors as a prepayment. Governance includes the cosls incurred in the governance of the Company and of ils assets and Is primarily associated with constitutional and statutory arrangements. (1> Fund ac¢ountlng The Company has different types of funds for which it is responsible, and which require separate disclosure as follows: Restricted funds These are funds iiihich have been earmarked by the donor for a specific purpose or which have been received from an appeal for a. specific purpose within the overall aims of the Company. The donation and any income derived from it will be used in accordance with that speclfic purpose. Unrestricted funds These are funds which may be expended at the discretion of Ihe directors in furtherance of the general aims of the Company and which have not been designated for a specific purpose. Designated funds Designated funds comprise unrestricted funds which have been set aside by the directors for particular purposes. The aim and use of the designated fund is sel out within the reserves policy in the directors, report. ti) Oporatingloasos Costs In respect of operatlng leases are charged on a straighl-line basis over the term of the lease. (k) Pension Scheme The Company operates a defined contribulion penslon scheme, and Ihe pension charge represents the amounts payable by the Company to the fund in respect ofthe year. From 3151 May.2014, the Cornpany has been required to provide a further defined contribution pension scheme to all employees under The Occupational and Personal Pension Schemes (Enrolthent) Regulations 2010. 27

NorriNGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming part of the financial ststements for the 52 weeks ended 30 March 2025 (continued) 2 Incomo from other tradlng actlvltles Unrestricted revenue funds Restricted Total 2025 revenue funds Totsl 2024 Theatre hire and events Front of house and catering sales Sponsorship and fundraising Hire and sale of costumes and setp Box office and agenl commission Property rents Programmes and advertising Other miscellaneous 99,181 549,859 81,003 99,181 549,859 81,003 198.023 448.585 78,216 1,059 257,129 22,878 8,214 8,302 376,642 14,213 19,392 74 376,642 14,213 19,392 74 1,140,364 1,140,364 1,022,406 Totsl 2024 1,022,406 1,022,406 3 Income from charitable activitles , . Unrestrided revenue funds Restricted revenue funds Total 2025 Total 2024 Admission income and fees . Co-production and income Touring and royalties receivable Theatre tax relief 3,245,491 741,331 136,447 1,815,414 2,490 3,247,981 741.331 136,447 1,815,414 2,184,915 8,734 91,317 866,299 5.938,683 1,379,735 2,490 102,258 5,941,173 1,481,993 3,151,265 1,712,137 .Grants receivable (note 4) 7,318,418 104,748 7.423,166 4.863.402 Total 2024 4,634,553 228,849 4,863,402 28

NOTTINGHAM PLAYHOUSE TRUST LIMITED {R•glstratlon No. 05384418) Not•s fornilng part of th• flnanclal stat•m•nts for th• $2 w••k$ •nd•d 30 March 202S l¢ontlnu•dl 4 Gr•nts r•c•lv•bl• 2025 Unr•8trlct•d R•v•nu• Fund• "2024 Unr••trlct•d R•v•nu•' Fund• 2025 R•itrl¢t•d 2025 Total 2024 R￿trICI•d 2024 Tot•1 Art8 Councll EnglAnd Nottingham Clty Councll Nottingh8m8hlre County Coundl Job Retention Scheme Fundays In Nottlngham8hiTe Lld Chichester Colkge Theatre Artlst Fund Nottingham Forest Communlty Tw8t BU Notts Jes818 Spencer Tru81 JOP Arts CIC Royal Thealrtcal Support Trust IRTSTI Nottingham Trent Unlverslty Lace M8rkel Theatr8 NalK•nal Theatre Nottinbhamshlre Pollcè Thomas Farr Chorfty D'oyly C8rt& -Sl8ge One Mary Robln80n TN$I Th8 Mackintosh Found8llon JN Derbyshire Tru$l f,379,735 1,379.135 18,940 4,360 1,379,736 60.502 1,379.135 82.975 4.360 43.051 18,940 22.473 4,380 43.051 4,000 1,000 32.732. 4,000 1.000 32.732 1,000 65,464 14,490 1,000 65,464 14.490 1,350 1.000 800 1,350 1.000 50.000 3,000 50,000 3,000 1.500 900 7.200 5,000 8.000 1.500 9)0 7,200 s,￿0 8,￿0 9,162 9,162 4,LX)O 28,010 3,000 21,890 4.000 28,010 3,000 21,85¥) 2,000 2.000 11,476 2,000 2,000 11,476 2,000 In¢omln9 r¢8our¢tr$ from charltable aclfvlues (note 31 1.379,735 102,258 1,481,993 1.483,288 228,849 1,712,137 The unreslricted grants receiva￿8 relates to grants r8cofvable for 9gnoral corn fundlng pury)oso8. Restrfclgd fund$ ar& th089 fvnds that musl be used for 8peclk purposes, as defined by the donor or fundraising campatgn. Furlher details of the rgstrfctgd fvnds can be found al ntsle 20 to the financial ststements. 29

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming. part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 5 Other expenditure Unrestricted Restricted Total 2025 Total 2024 revenue revenue funds funds Front of house and catering sales Sponsorship and fundraising Premises and support costs (nole 8) Irrecoverable VAT Other cosls. 413,474 9,170 120,713 121,578 . 87,593 413,474 21,033 120,713 121,578 87,593 339,864 3,077 118,645 104,392 58,597 11,863 752,528 11,863 764,391 624,575 Other costs include programmes, commisslons and fees and other overheads. 6 Expenditure on charitsble actlvltle8 Unr•8trict•d rovonue funds Restrlcted revenue funds Total 2025 Total 2024 Dlrect cosl of Iheatre productions 3,6.45,804 55.432 3,701,236 2,074,519 Indirecl cost of theatre productions 2,106,765 104,204 2,210,969 2,044,124 Premises and support costs (note 8) 1,535,242 1,535,242 1,348,142 7,287,811 159.636 7,447,447 5,466,785 , 7 Governanc• c08ts Unrestricted Unrestrictod revenue revenue funds funds 2025 2024 Fees to auditors Non audit fees to auditors 21,884 6,485 15,303 2,500 28,369 17.803 .30

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes formlng part of the flnancial ststomonts for the 52 weeks ended .30 March 2025 (continued) 8 Premlses and support costs 2025 2024 Tolal premises costs Central support functions costs 613,808 1,044,125 562.791 906.075 Total premises and support costs 1,657,933 1,468,866 Allocated across the following headings: Cost of raising funds Oth8r costs Cosl of charilable activities 1,978 120.713 1,535,242 2,079 118,644 1,348,143 1.657,933 1,468,866 Premises costs are allocated on an approximate volume area of: Auditorium, public and backstage areas Restaurant and bar areas Offices 100/0 9 Staff number8 and cost8 The average number of employees, including part time employees and casual employees, of the group was as follows: 2025 2024 Actors and musicians Production Marketing and sales Front of houseand caterin9 Theatre education Management and admjnistration 36 13 60 35 13 54 18 144 19 139 The aggregate payroll costs for these employees were as follows: Wages and salaries 'National insurance Pension contributions 3.242,253 239,193 109 350 .3,590,796 3,142,583 224,932 107 738 3,475,253 31

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 9 Staff numbers and costs (continued) No directors received remuneration or were reimbursed for expenses incurretl in performing their responsibilities as directors. (2024: £Nil) As at 30 March 2025 the key management personnel of the group comprise only those of the parent company as its wholly owned subsidiaries Nottingham Playhouse Trading Limited and Nottingham Playhouse Productions Limited had no key managemerrt personnel.. The key management personnel of the parent-company comprise the Chief Executive, the Artistic Director and the Chief Operating Officer.(fr.om August 2024), of Nottingham Playhouse.Trust Limited. The total employee benefits of the key management personnel of the parent company were £260,319 (2024: £203,371). The number of employees who earned over £60,000 were split as follows: 2025 Number 2024 .Number £70,001- £80,000 '£80,001- £90,000 £90,001- £100,000 10 Net Income for the year 2025 2024 The net income for the period is stated after charging: Depreciation of tanglble flxed assels (note 1d) Auditors. remuneration Non audit services to Auditor Operating leases 225,108 21,884 6,485 29,290 201,365 15,303 2,500 28,290 The Company is not subject.lo corporation tax as a result of its charitable status. 32

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming part of the financial ststements for the 52 weeks ended 30 March 2025 (continued) 11 Financial activities of the company The consolidated statement of financial activities includes those of the Company. its wholly owned subsidiaries Nottingham Playhouse Trading Limited.and Nottingham Playhouse Productions Limited. A summary of the financial activities of the Company, before eliminating inter-company balances but prior to net recharges to Nottingham Playhouse Productions Limited of £1,153,213 (2024: £826,729) are as follows: Totsl 2025. Total 2024 Gross incoming resources Total cost of generating volunlary incom8 Total cost of other activities Total cost of charitable activities Governance costs 8,285.387 (5,509) (330,010) (7,468,477) (18,715) 5,706,416 (5,379) (298,648) (5,466,786) {14,280) 462,676 93,608 (78,677) 93,071 Release of capital restrlcted funds Net incoming resources 556,284 14,394 Total revenue funds brought forward 2,177,804 2,163,407 Total revenue funds carried forward 2,734,088 2,177,801 Represented by.. Unrestricted revenue funds Restricted revenue funds 2,593.633 140.455 1,767,366 410,438 2,734.088 2,177,801 Net incoming resources arise from: General unrestricted activities General designated fund Specific restricted activities 527.358 8,345 28,926 6,049 556,284 14,394 33

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) .Notes formlng part of the financlal statements for the 52 weeks ended 30 March 2025 (continued) 12 Financlal operations of the tradlng subsidiaries and associate company The Company owns 100 % ofthe equity of Nottingham Playhouse Trading Lirrilted, a company registered in England and Wales. The principal activity of the Company is the operation of the bar and community space at Nottingham Playhouse. The Company was incorporated on 2 December 2011 and commenced trading on 6 January 2012. The inveslment in 2023 represents 250/0 of the equity of Ticketing Network East Midlands Limited. a company registered in England and Wales. The principal activity of the company is to provide ticketing services for the four partner venues in Nottingham. The carrying value of the investment in 2023 was £36,082. Nottingham Playhouse Trust Ltd left the consortiurn .with effect from the 25 February 2021. Members of the consortium of Ticketing Network East Midlands Ltd repaid the initial investment of £36,013 during 2024 and Ihe Garrying value of the fomier associate is £Nil'. The financial effect of this disposal is shown in note 15. On g October 2014, the Company incorporated Nottingham Playhouse Productions Limited, registered in England and Wales, of which it owns .1000/0 of the equity and trading commenced Immedlalely. The principal activity is that of a theatre production company. A summary of the trading results for Ihe two companies (before elimination of inter-compariy balances), and their financial position is as follows: Nottlngham Nottlngham Playhouse Playhouse Productions Tradlng Llmltod Llmited 30 June 2025 30 March 2025 Tumover Cost of sales Administrative expenses Theatre tax relief receivable 2,508,994 (3,689,771) 543,090 (368,487) (77,403) 1,180,777 Breakevenlnet profil 97,200 30 June 2025 30 March 2025 Fixed assets Current assets Creditors: falling due within one year 999 184,183 (90,905). 1,185,882 (1,185,881) Net assets 94,277 Rep￿senIed.by: Called up share capital Profit and loss account Gift aid distribution to parent charity 175,244 (80,969) 94,277 34

NorriNGHAM PLAYHOUSE TRUST LIMITED'(Registration No. 05384418) Notes forming part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 13 Tangible fixed assets- Group Sky Mirror & Djanogly Leasehold Playground Improv•m•nt8 Heritago . Lott•ry Project Equlpment & Motor Vehl¢l•8 Total Cost At 1 April 2024 Additions Disposal 918,912 2,569.106 7.176 1,444,870 797,622 103,982 (36,868} 5,730,510 111,158 (36,868) At 30 March 2025 918.912 2.576,282 1,444,870 864.736 5,804.800 Depreciation At 1 April 2024 Charge for period Disposal 161,090 17.118 714,246 147,703 1.444,870 618,738 2,938,944 60,287 225,108 (36,868) (36,868) At 30 March 2025 178.208 861,949 1,444,870 642,157 3,127.184 Net book value At 1 April 2024 757,822 1,854,860 178,884 2,791,566 At 30 March 2025 740.704 1,714,333 .222,579 2.677,616 The Sky Mirror and Djanogly Playground are considered to be heritage assets. (Note le) 35.

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes formlng part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 14 Tangible fixed assets . Company Sky Mirror & Djanogly. Leasehold Playground Improvements Heritage Lottery Project Equipmont & Motor Vehicles Total Cost At 1 April 2024 Additions 918,912 2,569,106 7,176 1,444,870 744,971 103,982 5,677,859 111,158 At 30 March 2025 918,912 2.576.282 1.444,870 848,953 5,789,017 Depreclatlon At 1 April 2024 Charge for period 161,090 17,118 714,246 147,703- 1,444,870 568,727 2,888,931 58,645 223,466 At 30 March 2025 178,208 861.949 1.444,870 627,372 3.112.399 Not book value At 1 April 2024 757,822 1,854,860 176,244 2,788,926 At 30 March 2025 740.704 1.714,333 221,581 2,676,618 The Sky Mirror and Djanogly Playground are considered to be heritage assets. (Note 1 e) 36

NorriNGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forming part of the financial statements for the 52 weeks ended 30 March 2025 (Continued) 15 Investments - Group 2025 2024 Associated undertakings Net book value at 1 April 202413 April 2023 Share of trading profits l (losses} for the period Disposal of associate at cost Profitl{loss) on disposal of associate 36,082 {36.013) (69) Net book value at 30 March 2025131 March 2024 The investmenl In 2023 represents 250/0 of the equity of Ticketing Network East Midlands Limited, a company registered in England and Wales. The principal activity of Ihe Company is to proyide ticketing services for the four partner venues in Nottingham. Nottingham Playhouse Trust Ltd left the consortium with effect from Ihe 25 February 2021. Members of the consortium of Ticketing Network East Midlands Ltd repaid the initial investment of £36,013 during 2024. The carrying value of the associate is £Nil. 16 Investments - Company 2025 2024 Subsidiary undertaking's Cost at 1 April 202413 April 2023 Associated undertakings Cost at 1 April 202413 April 2023 Share of trading profitsl{losses) for the period Disposal of associale at cost ProfiV(loss) on disposal of associate 36,013 (36,013) Cost at 30 March 2025131 March 2024 As noted above in note 15 the associate investment represented 25 % of the equity of Ticketing Network East Midlands Llmited, a company registered in England and Wales, now disposed of wilh a carrying value of Nil. The subsidiary investments represent 1 OOQ/o of the equity of Nottingham Playhouse Trading Lirnited and Nottingham Playhouse Productions Limited, companies registered in England and Wales. The principal activity of Nottingham Playhouse Trading Limited is the operation of the bar and community space at Nottingham Playhouse. At 30 March 2025 the Company had net assets of £2. The principal aclivity of Nottingham Playhouse Productions Limited is that of a theatre production Company. At 30 June 2025 the Company had net assets of £1. 37

NO￿INGHAm PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes formlng part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 17 Stocks Group Company 2025 2024 2025 2024 Catering and merchandise stock for resale 19,014 20,872 1,208 1,105 18 Debtors Group 'Company 2025 2024 2025 2024 Amounts owed by group undertakings Trade debtors Prepayments and accrued income 27.889 19,767 53,822 161.753 1.416,063 2,318,596 53,822 1,429,669 162,397 2,323.267 1,483,491 2,485,664 1,497,774 2,500,116 19 Credltors Amounts falling due Kiiithin one year: Group Company 2025 2024 2025 2024 Amounts owed to group undertakings ' Trade credilors Taxes and social security CBILS Loan Accruals and deferred incorne 7,807 342,165 276,218 101,428 114,643 115,122 92,534 1,265,626 1,563,053 358,402 . 123.018 115,122 1,294,644 277.241 126,256 92.534 1,600,587 1.891,186 2,096,61.8 1,832,148 2,046.448 ' Creditors due after more than one year is the CBILS loan al £77,378 (2024: £209,966). This is repayable within 6 years from the 4 December 2020 and has a current coupon of 3.480/0 - but was interest freé for the first Iwelve months. 38

NO￿INGHAm PLAYHOUSE TRUST LIMITED {R•g58tratlon No. 05384418) Not•• fornilng part of th• fin•ndal 8tst•m•nt• 20 R••trlct•d lunds- Group and C¢)mpany The Inccthe 8nd costs Included under the R8strKtsd Fund• Column ofth• St8tem8M of Fln8n¢bl b• •naty8•d •• lollow8'. Pthlclpat lon Prol•ct• 50..50 Tkk•t App••l Shln• l•n Produ¢tlon• Prop•rty ProJ•¢t Mck•lt•n Fu4 Op•n Hou*• Fund Employ Bu•lneis m•nt Support Funds Tot•1 R•v•nu• Tot•1 R••trtct•d Oth•r Caplthl 88lan¢o Brwghl Forward 123.4981 18,681 24.811 1,4S8 892 25,OCpJ 9,889 56,513 298,&¥J9 410,435 1.438,800 1,849,295 Voluntary Incom• Tru6t and FoUTrJa￿onS Grant Income- ActfvIl￿s lor g8n8rollng Grant I￿oM8- Charfl8bkg A¢lvilkg$ Events 8TrJ Box Ornc& 16,898 75,819 95,475 95.475 37,050 2,140 20,350 45,208 104,748 10,818 115,506 Total lrtomlNd ro￿u￿•# 39,698 19,038 96,169 45,208 200,223 10,818 211.041 FUn1th￿n? trndln9 Chadlabk8 ac￿81 9,003 2,860 92.185 11.803 159.838 11,863 159,636 23,144 44,307 Totsl oulgolng ra￿Ul¢$• 23,144 9,003 44,307 95.045 171,499 171,499 Nel IrKomlng I loulgolngl resources before tra1￿ 16.554 10,035 Sl,862 110 149,8371 28.724 10,818 39,542 Tfan8fer8 bets¥een 15,208 I298.￿9) 283.701 193.6081 1377,3091 B$low C8rrtod Forwo B,264 26.696 76,473 1,458 1,002 25.000 9,889 8,678 155,458 1,396,070 1.511¥28 Upon review the directorn are sat15fled that. as al the y88r8nd date. all rg5iTlclions relating to Ihe Business Support income have been mel and therefore that 5158 now appropdale lo transfer this balance lo unreslriGted roservgs. This h85 therefore b8en realk)caled through a funds transfer. 39

NOTTINGHAM PLAYHOUSE TRUST UMITED IR•gl¥tr•llon No. 05314418) t4ot•s foTmlng part of th• Ilnanclal 8t•t•m•Trts for th• 52 w••ks •nd•d 30 March 1025 Icontlnuodl 20 R•8trlct•d fund•- Group and C¢)mpany (Prlor yHrl Thg Income and cost8 included under the Rg$lrf¢ted Funds column of the Slalemenl ol Financial Aclivitl88 can be analysed as follows.. Shln• lln ProducUoni Prop•rty Prohct M¢k•ll•n Ampllfy Fund Olh•r Op•n Hou8• Fund Employ m•nt Fund• lon ProJ•ct• Tl¢k•t App•al Support T•tsl R•v•nu• Total R•btrl¢t•d C•pltsl ealan¢• Brought Foth• 17,8381 16,992 45,1 5,387 25,000 7.829 15,6gg 295,465 404,380 1,515,030 1,919,418 Volunlory Irtmm Tw6t and Foundalbns Grant inrxJme- AclMIo• for g8n8rallng fijnd Grant income- ¢h8rltsble ActivitK88 Evonts ond Box Olfico 10,629 19,431 35,764 3S,764 53.125 8,360 169,364 228,849 16.WJ1 245.750 53.125 10,829 25.791 2,2eo 169,384 3,444. 264,613 16,9)1 281.514 Fundr85￿N9 Ir&11no Charftable acUV￿oB 10,980 530 45.830 1.,7C 127,581 13,190 245.368 13.196 245.368 71,957 Tolal outory reoourc88 71.gS7 10,960 46.360 129,287 258,564 258,564 Net Incomlng I loutgc4ThJl resour¢oB bvlore trqnjforn 118,8321 13311 120.S691 2,280 40,077 0,049 t6.901 22.950 Tranifvrn bth•on fiJnd8 3.172 ia.g)91 737 193,0711 193,0711 Balanco Cathed FO￿ard 123,4981 18,8e1 24,611 1,458 8g2 25,000 $6,S13 298.￿9 410,435 1.438.860 1.849.295 40

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes formlng part of the financlal statements for the 52 weeks ended 30 March 2025 (continued) 20 Restricted funds - Group and Company {continuod) The funds and balances carried forward on the revenue restricted funds will be utilised as follows: Participation.proJects include, Homegrovin, Little People Big Adventures, National Theatre Connections and Playhouse Platform. The National Theatre Connections Festival continued for another year and received a further granl of £7,200. Playhouse Platform is workshops for leaming disabled and people on the autism spectrum, where they Gan develop personally and professionally within a theatre environment. A grant of £4,000 was received from Fundays during the year. In 2013 to celebrate the 501h anniversary of our theatre, we set up an appeal to give away SO free tickets to 50 perfomiances to local charities and community groups whose circumstances meant that a trip lo the theatre was not ordinarily possible. To fund this work, we encouraged patrons to donate when they purchase Iheir tickets. The 50.50 appeal proved incredibly successful and continues to raise money from both individuals and charilable trusts and foundations, maintaining its central rol8 in our accessibility programme. We are committed to continuing this in future years. Shine, our flagship programme of free youth Iheatres around the city and county is now made up of 14 regular groups. Shine will remain a key target area for fundraising, in order thal we can continue to eliminate cosl and geographic barriers lo engaging. with the arts and offer a safe space lo explore, creale and develop skills in an energised weekly programme. Three of our Shine groups operate within specialist settings: Secondary Pathways (formerly Sherwood Education Base), NEST Refugee school, and Portland School for disabled young people. Additionally, the QMC Hospital School provision focuses specifically on addressing social isolation among its students. In 2019 Sir lan McKellen embarked on a one-man show for his 80th birthday to raise funds for theatres nationwide. The colossal UK tour, 'lan On Stage, .visited 80.theatres from January lo July 2019 - lan McKellen has personal connections with Nottingham Playhouse and was part of the acling company in the 19605. The income from ticket sales is being used to help provide participatory activity for young people in our community. The property fund balance of £25,000 is from the Lady Hind Trust to support the acquisition of additlonal space for the Playhouse. Open House was a fundraising campaign to provide free cultural experiencesito people who are disadvantaged or marginalised in Nottingharrishire. Donations provide free tickets to Nottingham Playhouse shows and bursaries to a wide range of workshops & classes for Ihose who need their spirits lifted. The employment fund includes £32,732 from the Theatre Artlst Fund to support a Scenic Artist and Draughtsperson and £11,476 from the Mackintosh Foundation. The business support includes the Curtain Up Appeal funds and are to be used as required to support the Playhouse in its retum to full production and financial strength post the COVID-19 pandemic. Capital is the Capital Improvement Scheme completed 2015. the Small Capital Scheme in which the Playhouse was awarded an Arts Council Capital Granl and the bar and community hub refurbishment. 41

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes fomiing part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 21 Analysis of net assets between funds - Group Tangible fixed Investme Net current Non-current assets nts assets I (liabilities) (liabilities) Total.. 2025 Total 2024 Restricted capital funds Restricted revenue funds Unrestricled funds Unrestrlcted designated funds 1,356,070 1,356,070 1,438,860 155,458 155,458 410,435 1,321,546 (268,939) (77,378) 975,229 770,472 1,693,909 1,693,909 1,075,000 Total net assets 2,677,616 1,580,428 (77,378) 4,180,666 3,694,767 22 Analy818 of net assets botween funds - Company Tanglble fixed Inv•8tme assets nts Not current Non-current assets I (liabilities) Total 2025 total 2024 . Restricted capital funds Bestricted revenue funds Unrestricled funds Unrestricted designated funds 1,356,070 1,356,070 1,438,860 155,458 155,458 410,435 1,320,548 (358,446) (77,378) 884,724 692,369 1,693,909 1,693,909 1,075,000 Total net assets . 2,676,618 1,490.918 (77,378) 4,090,161 3.616.664 42

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes formlng part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 23 Notes to the Cash Flow Statement (a) Reconciliation of net income before associates and transfers to nel cash frorn operating activities Group 2025 2024 Net incorne before associates and transfers Add back depreciation charge Depreciation charge Loss on assoéiate disposal Decreasel(Increase) in stocks Decreasel(Increase) in debtors (Decrease)Ilncrease in creditors 485,899 (93,550) 225,108 201,365 69 (2.687) (989.759) 460,826 1,858 1,002,174 (228.020> Net cash used in op8ratlng activities 1.487,019 (423,736) (b) Relurn of investment for associated undertaklng ￿fer$ to retum of initial Investment in Theatre Network East Midlands, following Nottingham Playhouse leaving the consortium. (c) Analysls of net funds and debt ' 31 March 2024 Cash flow Other movement 30.March 2025 Cash at bank and in hand 703,248 1,265,861 1.969,109 Loans falling due within one year Loans falling due after more than one year (92,534) (209,966) 110,000 (132,588). (115,122) 132,588 (77,378) Totsl Net debt 400,748 1,375,861 1,776,609 24 Operating Lea8es On 19 March 2014 the Company signed a new lease for the Theatre premises with Nottingham City Council for a period of 13 years from 1 April 2013 on a zero rental basis. This agreement is in support of the Company's capital plans and, whilst it does come with additional responsibilities for the Company as tenanl, in comparison with the previous agreément, it has unlocked significant additional funding from Arts Council England towards the cost of the environmental upgrade of the Company's buildings. Bulldings 2025 Equipment 2025 8uildlngs 2024 Equiprnent 2024 Not later than one year Later than one and not later than five years 4,375 9,290 20,128 20,000 9.290 20,128 4,375 29,418 20,000 29.418 43

NOTTINGHAM PLAYHOUSE TRUST LIMITED (Registration No. 05384418) Notes forniing part of the financial statements for the 52 weeks ended 30 March 2025 (continued) 25 Related party transactlons Nottingham Playhouse Trust Ltd has a close relationship with Nottingham City Council, who nominate a director. Chair of Twstees .of Nottingham Playhouse Trust Ltd is also a Trustee of.Thomas Farr Trust but was not included in any decision making in respect of grants to the Nottingham Playhouse Trust Lld. A Trustee of Nottingham Playhouse Trust Lld is an employee within the Executive Committee at National Theatre but not included in any decision making in respect of grants to the Nottingham Playhouse Trust Ltd. The following is a summary of transactions with related parties: 2025 2024 Income Grants for general funding: Nottingharn Clty Council Natlonal Theatre Thomas Farr Trust 18,940 7,200 8,000 60,502 Grants for capltal fundlng: Nottingham City Council 10,818 Income from charitable aclivities: Nottingham Clty Council National Theatre 22,473 9,162 Expenditure Expenditure on charitable activities: Nottingham City Council 1,286 Trad• dobtor8 Nottingham City Council National Theatre 1.286 1,510 900 Prepayments Nottingham City Council 9,565 7,876 Trade credltors Nottingham City Council 9,361 Deferred income National Theatre 4,823 No directors received remuneration or were reimbursed for expenses incurred in performing their responsibilities as directors. (2024: £Nil)

NorriNGHAM PLAYHOUSE TRUST LIMITED (Reg6stration No..05384418) Notes forming part of the financlal statements for the 52 weeks ended 30 March 2025 (continued) 25 Related party transactions (contlnued) Nottingham Playhouse Trading Ltd and Nottingham Playhouse Productions Lld are both wholly owned subsidiaries of Nottingham Playhouse Trust Ltd. The following is a summary of Iransactions with wholly owned subsidiaries: Company 2025 Company ' 2024 Income Income from charitable activities: Nottingham Playhouse Productions Ltd Nottingham Playhouse Trading Lld 3,603.146 107.561 2,972,462 150,595 Expenditure Expenditure on charitable activities: Nottingham Playhouse Productions Ltd Nottlngham Playhouse Trading Ltd 2,449,933 2,145,733 Debtor8 Nottingham Playhouse Productions.Ltd Nottingham Playhouse Trading Ltd 27,889 19,767 Crèditors Nottingham Playhouse Productlons Ltd Nottingham Playhouse Trading Ltd 7,807 26 Ultimate Controlling party Nottingham Playhouse Trust Limited is a company limiled by guarantee and not having share capital, it is. incorporated under'the Companies Act 2006 and governed by the Memorandum and Articles of Association of the company. The members of the company are the Irustees and members of our wider Strategic Board. The trustees act as directors of the company, who are deemed to be the controlling party of the company. Therefore, no ultimate controlling party exists. It is a condilion of membership that members undertake to contribute such arnount, not exceeding £1, as may be required towards meeting debts and liabilitles of the company in the event of the company being wound up. 45