1Keqtre SKed
Our door is always open
The Theatre Shed Limited
Company R•ilstr•tlon Numb•r 05657857
UK Ch•rlty Commlulon R•ilrtratlon Numb•r 1114231
Annual Report and Accounts
Year ended 31st August 2025
at
es
d.co.u
Email
mln
shed.
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The Theatre Shed Limited
DireGtor8' Report
Year ended 31 August 2025
CONTENTS
REFERENCE ANDADMINISTRATION INFORMAnON................ .....................,.............................................................
DIRECTORS.........................................,...............................,...,,........,.....,........,.,...
STRUCTURE AND G(￿RNAl1cE............ ..... .
RISKM4NAGEMENT.........................................,..........................,.......................,..........................................................
BACKGROUNDAND YEARIPIREWEW................,.......................................,.................. ... ..
ARTISTICREVIEW................ .................. .... .. .
Productlons.........
MentW5hlpFr¢7mework................................................................................................
Outreoch.....-.....................-...........................-..................-.-....-...............................................................................................
Summer Induslon Sd>emes.
FINANCIPLRP4IEW.......................................................................................................,................................................
Fundlnv...............................
Future5tmte9V.......................................................................................................................................................................
Short-termStrrte9y.........................
MedAum.ttm? Stroteiy.............. ............... .....
Long-term Strotegy.............
STATEMENT OF DIRECTORS, RfSPONSIBILbTIES................................................................................ .... . ..................... 10
REPORT TOTHE TRUSTEES ANO tNREcfoRS OF THE THEATRE SHED UMITED IN RESPEcf OF THE ACCOUNTS FOR THE
YEAR ENDED 31 AUGUST2025................,.......................................................................................................,............. 11
Re5ponslbllitle5 ond ba515 oAreport.............................. ..................................................................... .
Independent £Yominer's stt7tèment..... . ....
.11
INCOMEANDEXPENDITUREACCOUNT..............................,..........................................................................................
STAYEMENf OF FINANCIAL posinoN....
FINANCIALDEaARATION.............................................................................................,...............
.14
NOTES FORMINfj PART OF THE FINANCIAL STATEMENTS........................... ....
15

The Theatre Shed Limited
Directors, Report
Year ended 31 August 2025
The Dlrectors present thelr report together with the unaudlted financlal statements for the twelve-month
flnanclal perlod ended 31st August 2025 Ithe "Accounting Perlod'l. The Company is a registered charlty and the
Directors have adopted the provisions of the Statement of Recommended Practice.. Accounting and Reporting
by Charltles Issued in October 2019.
Reference and Administratlon Information
Charlty Name:
Charity Registration Number..
Company Re8i$tration Number:
The Theatre Shed
1114231
05657857
Registered Office lat 31 Aug 20251..
The White Hlll Centre
Chesham
Buckinghamshire
HP5 IAG
Secretary:
Bankers..
A Thorpe
Natwest 8ank Pl¢
Amersham
Directors
The Directors in office during the financial year.,
L Frledner (Chalrl
S Blackmafi
E Snow
M Rann
A Thorpe
l Afzal
C Davles
E Boyd-Hall
The present Board comprises directors drawn from a broad section of the community with experience in the
performing art5, education and commerce. All dlrectors are non-exe¢utlve and receive no fees or emoluments
other than the relmbursements of expenses. The Dlrectors are also Trustees for the purposes of Charity Law.
Structure and Governance
The Cornpany Is limited by Guarantee and was incorporated under the Companies Acts on 19th December 2005
as a'not-for-profit, charlty to provlde an Inclusive performing arts facility for children and young people. The
Company was reglstered as a charity on 16th May 2006.
The Company is constituted under a Memorandum of Association that established the Company's objects and
powers and is regulated by its Articles of Association. In the event of the Company being wound up the
Members are required to contribute an amount not exceeding £10. The Artlcles, revised in April 2023, now
reflect that directorsltru5tees are automatically also the Members.

The Theatre Shed Limited
Directors, Report
Year onded 31 August 2￿25
Rlsk Management
The Dlrertors have a duty to Identify and revlew the rlsks to whlch the Companyls exposed and to *nsuTe that
approprlate controls are In place to provide reasonable •ssurance agalnst fraud and error. All relevant polScles
are In placè, and a full risk revléw has been undertaken thls year and will be conducted annually. Insurance
cover for Employer's Liablllty and Public Lllbillty was renewed and is in place. Speclficallyi the Companvs Chlld
Protectlon & Welfare, Equallty & Incluslon, Dl8nity at Work, Health & Safety. DRB, Complalnts Procedure,
Recruitmént of Ex-offenders, Voluntary Reportlng and Control of DBS Certlflcates were all revlewed durlng the
Accountlng Perlod. The Company has revlew•d Its Data Protectlon pollcles In Ilne wlth the Oata Protectlon Act
2018 and conslders that It is compllant.
Buckqround and Year In Revlew
We encouraie all chlldrtn and youn4 people, reiardle5s of t4ny d158bllity or dlsadvantage, to Prepare for and
partlclpate In Ilve stage performances through a serles of weekly workshops In mu51¢, drama and danctr. An
'Elevator" statement encapsulating the Company's 8¢tlvitles reads as follows:
Th• Theatr• 5h•d1$ 4 unlqu• and Inclu￿Ve th•4tr• comp•ny where younR people from every walk of Ilfe.
background •nd ablllty ¢ome together. We use the power of performln8 arts to provide youn8 people wlth the
confldÈnc• Ind Ind•p•nd•nc• to f••1 p•rt of so¢l•tV> ¢ontrlbut• to th•lr c¢mrnunltl•$ •nd Ilv• fulflllSn8 and
dignlfled Ilves..
Th¢ Companrfs actlvltl•s b•8an In Sèptembtr 2005 1$ an outre•¢h projert of The Chlckensh•d Thealre Trust
Company bthsed In SouthB*te, London Nl, *nd were Inltlally und•rtaken by Chesham Park Communlty Collqe
(the predecessor to Chlltern HS11s A¢•demyl and flnanced throu6h Its performlng art5 subsldy. 8ecau5e of th•
uncertainty that thls sourc& of finance would be malntblned on a long-t•rm basls, the College declded to
establlsh ¥ $èpar8te legal èntlty that could bècome Ind•pendent of the College •nd Its flnanclal support. The
Company was therefore Incorporated wlth the Intentlon that It would become s•lf-fln•nclni on • sustiln•bl•
b4$ls by $••kln¥ flnanclal support •nd sponsorshlp a5 * r*815tered charltv.
As always. It Is the sklll, enthu51asm and ten•¢lty of the Art15tlc Team whlch Is the drlvlng fort• behlnd the
succ•ss of The Theatre Shed. For that, the 8oard offers Its slncere gr•tltLKle for all thelr efforts •nd hurd work.
The Board Is 8ratefvl for the contlnued rel•tlonshlp wlth th• Chlltèrn Hllls Academy who contlnu• to host four
workshops per week as well as hostlng our produthons •nd fundralslni events. The team moved to In offic•
space In Whltehlll Centr•, Chesham, dyrlng the Flnanclal Perlod, reduclni our rental expendlture and 4lfting u5
sever•1 spaces In whlch to host tralnlnq and events. The Board wishes to profusely thank the Chlltern Hllls
Academy and the Whltehlll Centre for thelr contlnued support durlnrf th• Accountlng P•rlod.
The Comp•ny contlnue$ to work wlth 4 membershlp of 67 chlldren and young people from the ile of 5 rlght
throu¢h to adulthood.

The Theatre Shed Limited
D1￿ctOrS, Report
Year 8nd8d 31 August 2(r25
ARTISTIC REVIEW
Produrtlons
Youth Theatre I iyrii engaged in intensive rehearsals for their winter showcase at Chiltern Hills Academv
(CHAI, whlch incorporated vocal ensemble work and complex choreography for You Can'tsttsp the
Beat,, alonislde collaborative backing vocals for the Children's Theatre productions. The group also successfully
prepared high-vlsibillty ènsèmble pleces for the 'Christmas in Chesham, town event, dirertly contributln8 to
local cultur¥l placemaklng. maintained a stable ¢ohort of 15 member5 following strateg1¢ Internal
pro8ressions.
Youth theatre 2 iYf21 advanced their perfofman¢e Skills through a shared cabaiet•Style winter showcase at
CHA. A major creatlve milestone was their productlon of 'Wonderful World,. a high-impact silent performance
using solely British Sign Language with integrated live guitar accompaniment and physical expression to convey
the narrative, led by a dedicated group mentor. This in¢luslve pÈrforman¢e innovatlon proved how a¢cessibilltv
features can drive ¢reatlve excellence. managed a cohort of 13 members, includln8 recruitment through
targeted taster sesslons.
Chlldren's Theatre ICTI worked towards 'West End W¢Mders', a ¢•baret4tyle showcase comprlsed of 5rnall,
participant-led devised pieces. Fgllowin8 a strate¥l¢ relocatlon to CHA, CT experienced exceptional 8rowth to 12
active members, Including 4 new Intakes this term. 5UPPOrted by an exceptional team of 4 youth support
volunteers and 2 experienced mentors. Plans are underway to onboard advan¢ed mentors to safely transltlon
¢hlldren from a thriving waitlng Ilst of 5 prospective famllles Into the room.
Comp•ny Theatre focused on a spe¢lalized, condensed adaptation of Mury Poppins, introduclng advanced
physical theatre and movement pieces set to classic arrangements. The group maintained 15 active members,
successfully onboarding 2 new members, expertly guided by a tearn of 6 dedicated mentors.
Wlntsrand S rl
t•r
The start ot 2025 marked Theatre Shed's 20th Anniversary Year. Thè organisatlon ¢apltallzed on this milestone
to deliver a high-profile commemorative repertoire, heavlly supported by external professlonal partnerships to
elevate our productlon values and dlgltal a$5ets. Thls repertolre featured..
Tho Archlv• Prolect- a dedicated term of research and development. where members audited and
archived two decades of original scripts, music scoresi props, and tostumes
• Hlstorlc•l Tlmellne- a curated visU81 narrative charting the organization's legacy
Professlonal Medl• Assets- production of celebratory promotSonal vSdeos
• The 20th Annlv•rs*ry EP- a studifTrrecorded release featuring four original tracks
• Brand Dlgltal Modernlzatlon- the launch of a natSonal1080 and slogan ¢ompetltlon to modernlze the
¢harlt¢5 web51te and visual Identltv
The Founders Award- Instltutlonalized a new annual award framework celebratin8 the foundatlonal
values of the charlty's ploneers
The anniversary produ¢tlon element culminated in the full-cornpany production of Outslde the Box, an Incluslve
theatrical spectacle dlrectly Insplred by the historKal archive research conducted by our members. The
narratlve ¢featively inte8rated the history of Theatre Shed's founders, depi¢tln8 a multl-sensory universe where
the company's most iconic protagonists and antagonlsts crossed over Into the local town of Chesham.
The productlon seamlessly comblned live-action the?tre, digital filmmaking, and a live professlonal score. It
debuted at Plpers Corner Arts C•ntre, utilising their fully accessible theatre and technical box. This professlon•l
venue partnership enabled us to offer a bespoke. career-defining vocational placement to a youn8, skilled
Disabled technician, successfully breakin8 down a signiflcant industry entry barrler.

The Theatre Shed Limited
Directors, Report
Year endod 31 August 2025
Mentorshlp Fn7mework
Our volunteer and youth workforce remains the backbone of our Inclusive delivery model. Thls term saw the
successful integration of 3 new youth support workers within the Children's Theatre.
However, wtsrkfofce resrlSente contlnues to be an operatlonal challengè. The sertor-wide shortage of flexible,
specialized Care Cover means that mentor absences introduce temporary support barriers. The Charlty Is
actively mitl8atln8 this throu8h targeted recruitment drives, includin8 formal mentor site visits and interviews
to bolster our emer8en¢y cover pool.
Throughout the financial year, our Outreach Branch has executed a highly targeted portfolio of workshop5,
school assemblies, and creatlve projects across Buckin8hamshlre. Backed by strategic statutory ond
philanthropic fundln& our operatlons focused heavlly on the key wards of Chesham. specifically embeddin8
provisions wlthln Newtown School, Brushwood School, Ivingswood Academy, and Chlltern Hllls Academv.
Operating through the medlum of the performln8 arts, these targeted transltion schemes addressed the acute
social and emotional challenges associated wlth school dlsplacement. Our multl-project approach Creates a
continuous. familiar framework across a student'5 educational lifecycle, servin8 as a stabiSizin8 presence for
vulnerable puplls navl8ating instltutlonal change. Programmatlc warkstreams Included 'Sing and Slgn,
communS¢atSon workshops and bespoke educational transltlon prolects tailored for crltlcal educational
mllestones. The currlculum successfully delivered three key psychosocial outcomes for students experiencing
change.'.elevating self-esteem,. facilitatSng peer connections,. emotlonal channelling.
We extend our gratitude to our 8rant-makins partners whose fundln8 made this work posslble.
summer1ndu￿oft Schemes
During the summer period, the Charity expanded tts provlsions to tar8et seasonal isolation and food poverty
throu8h two hi8hly successful hollday streams.
Over a two-week period, the Charity dellvered Inlenslve performlng arts summer Camps funded in collaboratlon
with the Holiday Activities and Food IHAFI pro8ramme. This scheme successfully combined creativè èxpression
wlth the mandatory delivery of hot, nutritiOLts meals to local young people fa£ln8 so¢loeconomic
barriers. Themes included dance, movement, improvls•tion, arts and crafts, song writSng and moekumentarv
maklng (filming, script writing and vol¢e overl. Partlclpatlon is free, and donations are welcomed but not
¢ompulsory,
Supported by grant funding, the Charlty designed and executod a week of spe¢l•llied off-slte activities and
cultural excursion5 for our adult cohort to ease transltion anxietie5. Highlights included..
An outdoor Shakespearean performance at Waddesdon Manor
A private accessible film screening of Champions at the Rèx Theatre, Berkhamsted
An experiential. team-bulldlng actlvlty day at Woodrow Hlgh House. alongside tailored
transition wofk5hops hosted at Brushwood School
Garden Shed Projert {GSPJ
One of the standout highllghts of the year was the instsllatlon of our new greenhouse, aloni with materlals to
make the project sustalnable. An external team of volunteers spent a day working with our member$ to di8 the
site, level the ground, build the foundations, and construct the greenhouse- they were supportive and fully
incluslve, ensuring our members were involved In every Stage of the bulld.
Adding to this success. In March 2025 we secured fundlng that wlll cover the costs of GSP for the next 3 years.
This support will enable our members to develop nèw gardening skills, Brow produ¢e, bulld contldente, and
enjoy the many wellbeing benefits that come from spendlng tlme outdoor&
We also successfully began our Little Garden Shed outreach project, which intluded hiring an outreach
practitionef specialisin8 in positive phycology and wellbeing. We ¢arrled out consultation5 Wlth schools
resulting in the project reaching 2 schools in 2026, with the aim to increase that in 2026127. Our membershlp
8rew to 6 reBular weekly members with 2 regular volunteers and 2 staff. GSP has had 47 successful core
sessions in 202412S totalling 165 project hours.

The Theatre Shed Limited
Directors, Report
Year ended 31 August 2025
CHALLENGES AND OPPORTUNITIES
The Board ¢ontlnues to belleve that the Compary has over-relled In the past on the assumptlon of 8eneratln8
successful grant 8ppll¢atlons, and th•t thls cannot be relled upon in the fvture for a variety of rea50ns. It needs
to dlversify Its Income sources and, as such, It belleves that materially Incr*asin8 membershlp must be of
paramount Importance- both financlally and strategically. Hlstorically, subscription revenues rfenerated
thfouih membershlp have beeri a relatively srnall part of overall Income and thls financial year Saw
membershlp subscriptlons drop due to the Inablllty of some members to pay the full 5ubscrlptlon and to
bursarles belni awarded. The 8oard Is extremely 8rateful to the Ar￿$t1¢ Team for the focus applled to sust•ln
thls durlng such challen8ln8 tlmes,
In addltlon, the Board Ss clear that. wh*rever pou1b￿, future grant •ppll¢Jtlons should defray salary cost$
Iwhlch still essentlally make up a slinlflcant proportlon of the cost basel and not slmply add to core co$t$.
As mentloned above, the Companrfs p•rtnershlps wlth the Chlltern Hllls Academy and the Whltehlll Centre
h•v¢ provlded the Bo•rd wlth much optlmlsm for the future and many of the lrnmedlate beneflts of these
relatlonshlps have become apparent durlng the Ac¢ountln8 Pèrlod and have been ref•rr8d to above.
The need for a loc•1 Corporate flnanclal sponsor remalns of Importance to the Company. The Board alm$ to
source a sm•ll to medlum enterprlse ISMEI based In tho South 8ucks are• to partner wlth the Company In
return fr>r $om• $ecured fundln8 over a perlod of yeArs bnd thls contlnuos to be artlvely explor•d.

The Theatre Shed Limited
Directors, Report
Year ended 31 AUg￿t 2025
FINANCIAL REVIEW
Fundlng
The Board Is delighted to report a surplus of £14,969 for the Accountlng Perlod, compared to a deficit of
£10,098 In the prevlous year. Glven the s18nlfl¢ant Contlnued rlse In the cost-of-Ilvln8 and the Impact thls has on
our donatlon$, the artlstlc and fundra1￿n8 teams must be applauded and thanked for their h•rd work wlth the
conslderable funds rals¢d thls year.
Durlng the Ac¢ountlng Perlod, the Company ralsed £208,483 compared to £175,424 for the prlor year, an
increase of 19%. Qesplte holdln8 no lar8e fundralslng event durln8 the year, we recelved two conslderable
sums from partlcip8tlng In gnd wlnnlng the Clare Foundatlon's Angel'5 Den and by r8ffllng a sI8ned copy of the
Gavln & Stacey Chrlstmas 2024 scrlpt. In total, we recelved £169,729 from Grants, Gifts, Fundralslnrf and
DonatSon$ Compared to £134,210 the prevlous year. Membershlp $ubs¢Tlptlons durln8 the Ac¢ountlnR Perlod
amounted to £20,216- a decrease of 16% on the prlor year. Th15 Is, In part, due to the Increase In number of
bursarles we thre now provldlni to youni people who would not otherwlse be members.
The Board's slncere thank$ 80 to all donors jnd Instltutlons th•t have Supported us over the past year.
Expondlture durlng the A¢¢ountlnR P•rlod amounted to £193,514. Thls 4% Increase on the pr•vlous ye•r of
£185,522 was du• malnly to Incr•ased costs needed to 8•nerat• the Incr•as•d Sncome. We made a consld•r•d
move toward5 Increasln8 our outreach Snto the lotal communlty and procured funding to accommodate th1$
sp•nd.
The board have looked to mthlntaln the level of funds In the bank account to cover 9 month$ of future
expendlture so th•t we can •n$ure that we are able lo fund the provlslon of the key servlces that we *r•
dellverln¥ In a tlme wher* fuiure Income h•$ been dlfflcult to fore¢•$t wlth any certalnty. At the end of the
Accountln8 Perlod, there was • ca$h balance of £124,530 Icompared wlth £92,S58 at the end of the prevlous
Accountlni Perlodl, whSch Covers 10 months of future expendllure. The Board Is very pleased to have r•ached
thls level of res¢rves and under$tonds th•t w• wlll need to ¢ontlnue to m*lnt*ln and grow th¢$ number over th•
comlng ye•r. All effort5 rontlnué to be focused on iener•tlni as much revenue as reallstlcally pos51ble land
eurtalllni costs where requlredl.
Futurn Str4t•gy
As •lways, the Board's short jnd medlum-t•rm oblectlv•s •r• drlven by the contlnued challenging tlm•$
Inotably the on8oln8 ¢ost-of-Ilvlng crlslsl. With respect to the Companvs flnJnclal posltlon, the Board hav•
looked to 5tren8then the flnanclal stablllty of the Company 50 that It Is able to have confldence to dellver
¢rltl¢•l servlces to thosé most In ne•d durlnl these ex¢eedln8ly dlfflculi tlmes. In the longer term, the Board
remalns committed to establlshlng the Company as a unique peTformln¥ arts destlnatlon wlthln th•
BuckslBerkslHerts area and to materlally Increase member5hlp by doin8 $0.
Short-term Strnteqy
As In previous years. the Board's Immedlate prlorlty Is to Benerate enough Income to tnable It to contlnue
operatln8 for lat least) the 2026.27 academlc year. As noted above, membershlp recrultment continues to be ol
par•moLtnt Importance and Is now establlshed as the key oblectlve for the Board, hopefully uslng our outreach
partners and other student bases as a platform for thls. As always, the Board wlll contlnue to monltor all
expendlture and operating costs very c105ely durlng the forthcomlnl year.

The Theatre Shed Limited
Directors, Report
Year ended 31 August 2025
medlum.temi Stmtegy
The Board Is focused on 4 maln objectlves:
al Dlverslfyln8 the Companrfs Income from as many different sources a5 posslble so It Is not ovef-rellant
on Trust Grant awards. Key to thls Is the establlshment of long-terrn partnershlps, sponsorshlp and
afflllate relatlonshlps wSth thlrd partles (see above)
bl Contlnulng to Integrate the Company Into the local communllyi whSch should reap i number of
beneflts, includln8 Increased membershlp, Sn¢reasÈd medla Profile and increased Inter*st from loc41
companl*s
cl Contlnuln8 to accelerate the Comp•n¢s outr•Jch programme Into local schools, comp•nles and other
Instltutlons (see above)
dl In¢re4sln8 membershlp back to 2010 levels of IO0+
lono.t•rni Strotrtgy
As has been noted In prevlous Dlrectors, Report5, th• Cornpany and It5 Board remaln commltted to a¢hlevln8
the Strateilc alms set In 2008,. namaly to
l M•lntaln th• b•st Chlldren's, Youth and Comp4ny The•tre, whll¢ In¢r•a$ln8 It5 cohort and multl.ethnl¢
mlx
bl Establlsh the Company •$ a ¢entre of excellence for Inclu$lve theatre tr4lnln8 wlthln tho
Bu¢kslBerks/Herts area and have • successful tourlng programme In place throuihout thls •re•
¢1 S*cure long-term fundlni to provlde secufhy for the Company* Its st•ff and members
dl Achl•ve local, natlon•l and Internltlonal r•coinltlon as an arts or8•nls•tlon

The Theatre Shed Limited
Directors, Report
Year ondgd 31 August 2025
Statement of Dlrettors, Responslbllltles
The Dlrectors are responslble for preparlnl thelr report and flnanclal statemènts In actordance wlth appllcable
law and re8ulation5.
Company law requlres the dlrectors to prepare flnanclal st*ttments for each tlnanclal perlod that a tru•
Ind fair vlew of the Company as at the Statement of Flnanclal Positlon ISQFPI date and of Its incoming resource5
and appllcatlon of re50urc85, Includlng Income #nd expendlturè, for the financlal perlod.
In preparino those fln•n¢l•l statements, the Dlr•ctors •re requlred to:
select sultabl• a¢countln8 pollcle5 and then ipply them conslstently.
make lud8ments and estlm•tes that are reasonable and prudent.
prepare the Ilnanclal st•tements on the golnl concern b)sls unless It Is Inapproprlate to presume
that the Company wlll contlnue on that basls,
Th• Olre¢tors •re re$pon$lble for keeplni proper •ccountlng records that dlxlose wlth reasonabl• accuracy at
any tlme the flnanclal posltlon of the Company and en•ble them to ensure that Its flnanclal statements eomplv
wlth the Companles Act 2006. They have a general responslbillty for taklni such steps 05 •re reasonably op•n to
them to s•feiu4rd the assets of the Comp4ny and to prevent and detect fraud and other Irreiularltles.
The fln)n¢l•l statements have been prepared In •ccord8nce wlth the Statement of Recommended Pr•¢tl¢e:
Accountln8 •nd Reportlng by Charltles Issued In October 2019, and In accordance wlth the provlslons of th•
Comp•nles Act 2006, Insof•r as th•y Ire 4ppllc•ble to the Companv.
Approved by th• Board of Tru$t•es on 30th Jun• 2026 and slgn•d on Its behalf bv:
Laura
nei
un
Laura Frledner
ChaSr of the Board of Trustees
io

The Theatre Shed Limited
Directors, Report
Yèar end8d 31 August 2025
Report to the Trustees and Directors of The Theatre Shed Llmlted In respect of the
accounts for the year ended 31 Au8USt 2025
RespOn￿bIlItIeS ondbosls oyreport
As the Trustees of the Company Ibtho are also the Dlrectors of the Company for the purposes of Company lawl,
you are responsible forthe preparatlon of the a¢counts In ac¢ordan¢e with the requirements of thè Companles
Act 20061'the 2006 Act'l.
Havln8 satlsfled myself that the accounts of the Company are not requlred to be audtted forthls year under
Part 16 of the 2006 Art and are eligible for Independent examinatlon, I report In respect of my examlnalion of
your Charlty's accounts as carrled out under 5ertlon 145 ot the Charities Act 20111.the 2011 Art"). In carrylng
out my examlnatlon, I have followed the appllcable Dlrectlons glven by the Chathy Commlss4on under se¢tlon
14515llbl of the 2011 Act.
Indep•ndent ExamlnePJ statemnt
I have completed my examlnatlon. I conflrm that no materlal matters have come to my attentlon whlch ilves
me cause to belleve that:
•¢¢ountlng records ￿re not kept In •ccordance wlth sectlon 386 of the Companles Art 2006,. or
the accounts do not a¢cord wlth such records; or
the accounts do not cornply wlth relevant accountlng requlrements under seetlon 396 of the
Companles Act 2006 other than any requlrement that the accounts glve a 'true and falrf vlew whlch Is
not a matter ¢onsldered a5 part ol an Independent examlnatlon or
the accounts hav¢ been prepared In 4ccordano wlth th¢ Ch•rltles SORP IFR51021
I have no Concerns and have come across no other rnatters In connedlon wlth the examlnatlon to whlch
attentlon should be drawn In thls report In order to •nable a proper understandlng of the accounts to be
reached.
ancy
In&on
un
Nancy Dl¢kinson, AICB
3 Berks Hlll
Chorleywood
WD3 SAG
Date: 30 June 2026
li

The Theatre Shed Limited
Year ended 31 August 2025
Income and Expendlture Account
Totsl
2025
Totsl
2024
Fund¥2025
FundJ1025
Incomlni R•sourc•s
Mtmbershlp Subscrlptlon5
Grants
Grants- fixed assets
Donatlons
Fundralslng
Gala Evont
PTodu¢tlons & Festlvals
Courses & Outreach
Garden Shed
Merchandise
Interest
20.216
20.216
111,083
io,c
11,488
37,158
23.880
112,885
106.083
iO,LD)
11488
37,158
18.629
&258
10,960
1,279
lis
926
5,258
10.960
1.279
115
926
6,n8
9,394
920
103
189
J06 iY3 208A83
175,424
R•￿V¢•I Exp•nd•d
Fees- Artlstlc Team
Fees- All other
Rental of premlses
Insurance
Productlons & Festlv•l$
Cour5e5 & Outrejch
Gala & Fundralslng
G*￿en Shed
Stsff TrJlnln8
Merchandlse
General Expen
Depredatlon
31814
30.716
10.Q29
1,593
7,272
178
63,616
96,430
56.842
10.729
1,393
10,160
2.582
107,565
44,201
9,360
2.888
2,653
5,328
8,619
8,669
1,462
7,109
584
79
5,955
1,340
617
1812
3,697
1.5SO
106 &Y3 193,514
185,522
Surplu$ I ID•fkltl
14J6•
14,969
IiO,(V81
12

The Theatre Shed Limited
Year 6nded 31 Augu8t 2025
ststement of Flnanclal Posltlon
IOZS
2025
2024
2024
TANGIBLE ASSETS
Theatr•lComput•r/Offlt* Equlpment
Net Book Value brov8ht
forw•rd
Addltlons In the y•br lat costl
Less Oepreclatlon In the year
Rental dep051t-trnnsfer to
Current Assets
2,245
1,257
8,682
11,5SO
2,3Z8
11,3401
Net Book V•lue carrled forw•rd
9,377
1245
CURRENT ASSETS
Debtors & Pr•p•ym•nts
Current Accounts
DepNIt Account
5,953
92,502
56
124,474
56
130,090
98,511
I39,￿7
,756
CURf¢ENT LIA8ILITI£S
Crodltors f•llln8 du• wlthln on• y••r
Income In Ath•nc•
16,3481
173,6961
11,2091
155,1531
156,3621
NET ASSETS
59,968
RepreMnted by..
FUNDS OF THE CHARIT
B•l•nc•s brought forw•rd
44,394
54,492
SurplusllD•fi¢ltl for the ye4r
14,969
110,C881
70TAL FUNDS
59,363
394
13

The Theatre Shed Limited
Year ended 31 Auoust 2025
Flnanclal Declaratlon
For the flnanclal year ended 31 Aulust 2025 the Company was entltled to exemptlon under sectlon 477 of the
Companies Act 2006 relating to small companie5. No members have required the Company to obtaln an audit
of its accounts for the year ended 31 August 2025 In •¢cordan¢• with sectlon 476 of the Companies Act 2006.
The director$ acknowledge their responsibility for complying wlth the requlrements of the Act with respect to
accountln8 records and for the preparatlon of a¢¢ounts.
These 4¢tounts have been prepared In •¢¢¢rdan¢e wlth the provlslons applS¢able to companles Subject to the
small companles, reglme.
Th• flnancl•l stat•rnonts w•r• approved by the Board on 30 June 2026 and slgn•d on Its behalf by:
rt•dn•r
L•ur4 Frledner
Chthlr of the Board of Trustees
Andrea Thorpe
Flnance Trustee & Company Secretary
14

The Theatre Shed Limited
Year 0nded 31 August 2025
Notes Formlng Part of the Flnancial Ststements
A¢countln8 Polldes
The prlnclpal ac¢ountlng pollcies are summarlsed below. The accounting policie5 have been applled conslstently
throughout the year.
al Basis ofAccountinq
The flnancial statements havè been prepared under the historical Cost convention and in accordance
with the Financial Reporting Standards for Smaller Companies leffective January 20071 and the
Statement of Recommended Practice.. Accounting and Reporting by Charitles issued in Ortober 2019.
bl Incoming Re50ur¢es
All Incoming resources are included when the Company Is entitled to the Income.
¢1 Resources Expended
Liabilities are recognised on an accruals basis sthen they are incurred and include VAT whieh cannot be
recovered, ond which Is reported as part of the expendlture to whlch it relate5.
Recelpts from Perform*nu$
This represents the proceeds from tirket sales from performances prodLt¢ed during the period less
relatèd costs such as venue hire, the cost of any scènery/propsllightln8, advertisingp the printin8 of
programmes etc with the assoclated expenses shown below.
Artl$tlc / Admln Fv$
These reflect the hours required ftsr the Artistic and Admin teams to run workshops In the financlal
year plus additlonal Show and Festival dates.
Produrtlon Expenses
This represents the expendlture required to runnlng perform•n¢es such as venue hlre, the cost o*
ny s¢enery/prtsps/lightin& advertisin81 the prlntlnB of programmes etc.
Depre¢latlon Expenses
Fixed assets are added at cost and depreciated on a strallht-line basis over the expected useful life
of the assets, which for theatre and office equipment is 2-4 years,
Debtors Prepayments & Credltors
The year ended with a small debt for an outreach workshopi ac¢ruals for Summer Scheme and
outreach payments to the Artlstie Team.
Income In Advance
Grant monles and other In¢ome le.8. Outreach recelpts, fundralsln81 that were Intended for use
post-August 25 were carried forward to the next flnancial year.
Dlrnrtois
No Directors received any remuneration during the year and no director had any personal Interest
in any contract or transactlon entered Into by the Company.
Taxatk>n
The Company is exempt from tax on Income and Balns falllng wlthln sectlon 505 of the Taxes Art
1988 or se¢tlon 256 of the Taxatlon of Chargeable Galns Act 1992 to the extent that these are
appllèd to Its Charitable obhcts.