Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
**Registered number: 05694721 Charity number: 1115555**
## **THEATRE503 LIMITED**
**(A company limited by guarantee)**
## **UNAUDITED**
**TRUSTEES' REPORT AND FINANCIAL STATEMENTS**
**FOR THE YEAR ENDED 31 MARCH 2026**
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **CONTENTS**
||Page|
|---|---|
|**Reference and administrative details of the Charity, its Trustees and advisers**|1|
|**Trustees' report**|2 - 7|
|**Trustees' responsibilities statement**|8|
|**Independent examiner's report**|9|
|**Statement of financial activities**|10|
|**Balance sheet**|11 - 12|
|**Statement of cash flows**|13|
|**Notes to the financial statements**|14 - 28|
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2026**
|**Trustees**|James Dacre, Chair|
|---|---|
||Royce Bell, Vice Chair (stood down 11 June 2025)|
||Emma Rees, Vice Chair|
||Eleanor Lloyd OBE (stood down 11 June 2025)|
||Ollie Raggett|
||Joshua Chua|
||Jack Tilbury|
||Roy Williams OBE (stood down 25 February 2026)|
||Azera Jones (appointed 26 November 2025)|
||Amber Massie-Blomfield (appointed 26 November 2025)|
||Cerian Walsh|
||Philippa Hill|
||Tian Brown-Sampson (promoted from Associate Trustee to Trustee 26 November
2025)|
||Emily Carewe (Executive Director)|
||Naomi Alicia Ladenburg|
||Kandy Chantal Rohmann|
||Guy Schanschieff (appointed 26 November 2025)|
|**Company registered**
**number**
05694721
**Charity registered**
**number**
1115555
**Registered and principal**
**operating office**
503 Battersea Park Road
London
SW11 3BW
**Executive Director**
Emily Carewe-Jeffries (trading as Emily Carewe)
**Artistic Director**
Anthony Simpson-Pike
**Independent Examiners**
MHA
Chartered Accountants
2 London Wall Place
London
EC2Y 5AU||
Page 1
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2026**
The Trustees present their annual report together with the financial statements of the Charity for the year ended 31 March 2026.
Since the Charity qualifies as small under section 383 of the Companies Acts 2006, the strategic report required of medium and large companies under The Companies Act 2006 (Strategic Report and Director's Report) Regulations 2013 is not required.
## **Objectives and activities**
## **a. Policies and objectives**
In shaping the theatre's objectives for the year and planning its activities, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance on public benefit and fee charging. The theatre relies on grants, donations and the income from fees and charges to cover its operating costs.
In setting the level of fees, charges and concessions, the Trustees give careful consideration to the accessibility of the theatre for those on low incomes.
Affordability and access to the programme is important to Theatre503 and the work it produces is intended to be enjoyed by people of all ages and backgrounds, both locally and UK wide.
## **b. Strategies for achieving objectives**
The strategies employed to achieve the charity's aims and objectives are to:
- develop, produce, present, and support a wide variety of theatre productions for the enjoyment andeducation of a diverse audience demographic;
- identify and support the very best debut and emerging writers to stage their first productions, performed to the highest professional standard;
- break down all barriers to writing, staging, participating in and seeing theatre;
- be the best practice model for early career playwrights and new writing practice through the Writers Programme and our Education and Creative Learning programmes for Young People;
- become a sustainable, dynamic, and flexible business able to adapt to an ever-changing future landscape.
Putting these strategies into action the theatre has three major areas of activity which are:
- Stage productions; and
- Literary development programmes (The Writers Programme); and
- Participation, Creative Learning and accessibility in the local community
Page 2
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026**
## **Objectives and activities (continued)**
## **c. Activities for achieving objectives**
This year saw a range of successes on our stage and through our programmes, as well as a number of strategic challenges that required Trustees and Team Members to reimagine the ways in which we achieve our strategic objectives in the support of artists and our communities.
We staged 29 full-length plays on our stage at The Latchmere, reaching 7866 live audience members, and engaging over 350 freelancers. The year began with a successful production of **Derry Boys** by Niall McCarthy, which had initially begun its development as a 10-minute short play as part of our open access Rapid Write Response scheme before evolving into a full-length play. The first season of programming from Artistic Director Anthony Simpson-Pike was announced in September 2025 and launched in January 2026 with **Donbas** by Olga Braga, which was the winner of our 2025 International Playwriting award - chosen by an industry panel from 1377 submissions.
In forging this debut season, the Board and Executive launched a renewed producing model for the organisation which saw an increase in our annual in-house productions from 1 self-produced production per year to 4 inhouse productions. This significant increase in self-producing output was made possible through intensive fundraising, work with partners and with the generous support of PW Productions who acted as production sponsors for our 2026-27 season. This new approach to producing work was necessitated by the significant funding challenges experienced across the theatre sector, particularly in relation to producing new work and the availability of project funding from Arts Council England and the Trusts and Foundations who we’ve previously depended upon to subsidise our output. To illustrate the scale of this challenge, in April 2025 we saw 9-months of programmed work fall away due to a lack of available project funding, leaving our theatre at risk of being dark for the majority of the year. We moved quickly to programme new work, including a highly successful season of transfers from the Edinburgh Fringe, as well as Tanya Loretta Dee’s fantastic debut play **Loop** which played on our stage for 3-weeks in Autumn 2025. Strategically, our focus continues to be on developing meaningful partnerships to support an increased volume of produced work in-house and in co-production.
2025-26 saw our local borough - Wandsworth - become London Borough of Culture. As part of these celebrations, we were co-commissioned alongside local radio station Riverside Radio to lead and deliver a 40episode community led radio soap opera, **The Wandsworth Way** , celebrating the local people of Wandsworth. With lead writer James Fritz, we engaged over 30 local writers, and over 150 community actors across the season.
We continue to work towards refurbishing the 503Studio but were unsuccessful in our application for funding through Arts Council England’s Creative Foundations Fund. We have activated the studio with meanwhile use projects throughout the year, including rehearsals, community events, workshops and masterclasses and coworking space, allowing us to deliver against our social value commitments whilst we still continue to fundraise to finish the full fit-out
Page 3
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026**
## **Achievements and performance**
## **a. Key performance indicators**
- 530 early career writers participated in the Writers Programme this year
- 29 early career writers had their worked staged across the year
- 7,866 audience members watched our work in person
- 1,377 submissions from 49 countries for our 2025 International Playwriting Award
- 637 (up from 407) applications for our 503Five programme
## **b. Stage performances**
Our full length productions for this year included:
1. **Derry Boys by Niall McCarthy** , directed by Andy McLeod. The play began as a 10-minute Rapid Write Response piece, before being developed into a full length play. Sold at 68% capacity. **** The Stage
2. **Loop by Tanya Loretta Dee** , directed by Sophie Ellerby. “Dee’s writing and acting ensure that she’s a future powerhouse.” Sold at 53% capacity. **** - Reviews Hub
3. **Donbas by Olga Braga** , directed by Artistic Director, Anthony Simpson-Pike. The play won 2025 International Playwriting Award, selected from 1377 submissions. The production was co-produced with Good Chance and 45North, in association with Seventh Productions. Sold at 95% capacity. ***** “Donbas showcases exactly why we need to be supporting more new writing when important stories like these need to be told.” - Love London Love Culture
Alongside these 3 week runs, we staged 26 short runs across our Summer, September and January short seasons, as well as 3 iterations of our Rapid Write Response programme.
## **c. Education, community, literary and artist development**
The Writers Programme sold well, with a 30% uplift in participant numbers across the year and a 100% increase on 1-2-1 dramaturgy sessions. We offered 42 bursaries.
Our brilliant literary team dedicated much time to recruiting our 2026 503Five cohort, who are Arianna Munoz, Hannah Shury-Smith, Danielle James, Ellen Bannerman and Kathrine Payne.
Rapid Write Response continued to progress from stride to stride, held brilliantly by new Deputy Artistic Director Yasmin Hafseji, taking over from outgoing Deputy Artistic Director Rochelle Wilson. It has continued to open up a pathway to future collaborations and opportunities with early career artists, platforming 6 writers’ responses to every 3-week run we programme. Across the year we platformed 18 new plays and received 139 submissions, and mentored over 50 first time directors.
We delivered the first iteration of Finding Your Voice - a series of after school playwriting classes for primary school children - in partnership with St Mary’s Primary School in Nine Elms, and aim to roll this programme out further in the borough alongside the introduction of the 503 Young Company in 2026/27.
We announced the winner of our International Playwriting Award in July 2025, having received 1377 submissions received from 49 countries. Throughout the year, our Literary team led a reading pool of 20 through a rigorous assessment process, with longlisting and shortlisting, with the winner - Donbas by Olga Braga - chosen by a group of fantastic industry judges who we thank for their time.
Page 4
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026**
## **Achievements and performance (continued)**
## **d. Factors relevant to achieve objectives**
## Artistic values
- Diversity begins with who is telling the stories and informs how we run our venue throughout the year.
- Theatre503 is aware that artistic tastes are not the same for everyone. The theatre therefore tries to make clear the themes and issues that the work contains on its website and in marketing materials.
- Theatre503 takes the views of audiences very seriously and without compromising the integrity of the programme, seeks to respect the diverse ethnicity, faith, sexual orientation, and lifestyles of the community and audiences.
## Pricing policy
- The theatre's pricing policy reflects its strategy of enabling all within its community, whatever their means, to take part in its activities and to attend the theatre. We increased top price tickets to £24 (up from £22) to support financial sustainability whilst still ensuring our accessible price points remained.
- Theatre503 continues to be on a par with, or cheaper than, other London theatres of similar size.
- A concession ticket of £20 is available to students, senior citizens, members of Equity and BECTU.
- The same discount is available to those with access requirements, with a free ticket for a companion.
- Writers can access £10 tickets during previews, and full priced preview tickets are £15.
- We host one Pay What You Choose performance across every 3+ week run.
## Accessibility
- Our Share the Drama Scheme means we subsidise around 50% of our tickets.
- Parent & Baby Matinees and Relaxed performances continue to build an audience.
- Trustees recognise the restrictions the current premises pose to some visitors and continue to seek to improve accessibility in areas where the opportunity exists.
## **Financial review**
## **a. Reserves policy**
We aim for our reserves to be equivalent to 3 months of our running costs, valued in 2021 at £44,000. Having revalued our running costs at the 2025 AGM at £75,000, we are aiming towards incremental increases in our reserves target, whilst also acknowledging the reality of the financial climate. In 2025/26 our reserves target is £50,000, increasing to £60,000 in 2026/27, and £70,000 in 2027/28.
Total reserves at the end of the financial year were £517,119 (2025: £580,196) of which £50,576 (2025: £61,531) were restricted, £428,190 (2025: £455,854) were unrestricted designated capital funds and £38,353 (2025: £62,811) were unrestricted general funds.
## **b. Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future, in the understanding of the increased risk posed as a result of the ongoing precarious economic and fundraising climate, and the increasing operating costs felt across the sector. For this reason they continue to adopt the going concern basis in preparing the financial statements.
Page 5
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026**
## **c. Financial review**
Following the successful rebuilding of our reserves in the 2024/25 financial year, emphasis was placed on maintaining momentum whilst navigating a change in artistic leadership, and diversifying income streams. We successfully maintained our philanthropic income streams across Trusts & Foundations and individual giving, including a highly successful fundraising event at Battersea Power Station.
We continued to feel the impact on our expenditure of running two separate sites, and strategically continue to interrogate maximising the earning potential of the 503Studio as a meanwhile use venue.
We continue to recognise that the financial and fundraising climate remains incredibly challenging, but feel confident that our increased and diversified income streams place us in a strong position to react and respond dynamically, and build towards a more sustainable financial future.
## **d. Principal funding**
The majority of the charity's income has continued to derive from box office income, tax credit claims from DCMS, Arts Council England grants, The Carne Trust, Wandsworth Borough Council, Concord Theatricals, Trusts & Foundations (see below) and individual donors.
We received grants from the following Trusts & Foundations within the year: De Laszlo Foundation, Noël Coward Foundation, Mila Charitable Organisation, D’Oyly Carte Foundation, Maria Bjornson Memorial Fund, Wimbledon Community Foundation, Unity Trust, and Orseis Trust.
## **e. Capital project**
We have accounted accurately for all capital income, with expenditure on the fit-out being realised on our balance sheet as a depreciating asset.
## **Structure, governance and management**
## **a. Constitution**
The Charity was incorporated on 1 February 2006 under the Companies Act 1985 as a private company limited by guarantee, having no share capital, and its objects and regulations are governed by its Memorandum and Articles of Association.
Charitable status was granted on 24 July 2006 under registered number 1115555. The principal objects of the Charity are to promote, maintain, improve and advance education particularly by the promotion of educational plays and the encouragement of the Arts including the arts of Literature, Drama, Music, Singing and Movement.
There have been no changes in the objectives since the last annual report.
Page 6
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
**TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2026**
## **Structure, governance and management (continued)**
## **b. Methods of appointment or election of Trustees**
As per the Memorandum and Articles of Association of the Charity, new Trustees are appointed by ordinary resolution.
Not less than fourteen nor more than thirty five days before the date of the meeting, the Charity is given a notice that is signed by a member entitled to vote at the meeting; which states the member's intention to propose the appointment of a person as a Trustee; which contains the details that, if the person were to be appointed, the Charity would have to file at Companies House and which is signed by the person who is to be proposed to show his or her willingness to be appointed.
## **c. Risk management**
The Trustees have a duty to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error.
Theatre503 operates a Risk Register covering Finance, Premises, Audiences, Product, Staffing and Capacity which is reviewed regularly by Trustees. The Artistic Director and Executive Director review operating risk during operations meetings and the Trustees interrogate changes in risk as they occur.
## **d. Structure, governance and management**
Three long standing and highly valued Trustees reached the end of their final term of service during this period. In anticipation of this change, the Board led a major recruitment campaign to appoint three new Trustees. This included a full skills audit of all current trustees to identify key recruitment areas to focus upon in making new appointments and a widely advertised public recruitment process that saw a very competitive field of candidates submit applications. The Board was pleased to welcome Amber Massie-Blomfield, Azera Jones and Guy Schanschieff in November and to promote Tian Brown-Sampson from her role as an Associate Trustee to become a full Trustee.
## **Members' liability**
The Members of the Charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up.
The Trustees' Annual Report has been prepared in accordance with the provisions applicable to entities subject to the small companies' regime, was approved by order of the members of the board of Trustees and signed on their behalf by:
**James Dacre** (Chair of the Board)
> Date: July 20, 2026
Page 7
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF TRUSTEES' RESPONSIBILITIES FOR THE YEAR ENDED 31 MARCH 2026**
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles of the Charities SORP (FRS 102);
- make judgments and accounting estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards (FRS 102) 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 Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on its behalf by:
**James Dacre** (Chair of the Board)
> Date: July 20, 2026
Page 8
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **INDEPENDENT EXAMINER'S REPORT FOR THE YEAR ENDED 31 MARCH 2026**
## **Independent examiner's report to the Trustees of Theatre503 Limited ('the Charity')**
I report to the charity Trustees on my examination of the accounts of the Charity for the year ended 31 March 2026.
## **Responsibilities and basis of report**
As the Trustees of the Charity (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
## **Independent examiner's statement**
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
1. accounting records were not kept in respect of the Charity as required by section 386 of the 2006 Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or
4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)].
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Charity's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Charity's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a body, for my work or for this report.
Signed: Dated: July 21, 2026
John Coverdale FCA (ICAEW)
MHA Chartered Accountants 2 London Wall Place, London, EC2Y 5AU
MHA is the trading name of MHA Audit Services LLP, a limited liability partnership in England and Wales (registered number OC455542).
Page 9
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2026**
|**Note**
**Income from:**
Charitable activities
3
Investments
5
**Total income**
**Expenditure on:**
Charitable activities
6
**Total expenditure**
**Net (expenditure)/income**
Transfers between funds
15
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Unrestricted**
**funds**
**2026**
**£**
**374,589**
**966**
**375,555**
**431,593**
**431,593**
**(56,038)**
**3,916**
**(52,122)**
**518,665**
**(52,122)**
**466,543**|**Restricted**
**funds**
**2026**
**£**
**177,532**
**-**
**177,532**
**184,571**
**184,571**
**(7,039)**
**(3,916)**
**(10,955)**
**61,531**
**(10,955)**
**50,576**|**Total**
**funds**
**2026**
**£**
**552,121**
**966**
**553,087**
**616,164**
**616,164**
**(63,077)**
**-**
**(63,077)**
**580,196**
**(63,077)**
**517,119**|_Total_
_funds_
_2025_
_£_
_960,923_
_4,066_
_964,989_|
|---|---|---|---|---|
|||||_611,764_
_611,764_|
|||||_353,225_
_-_
_353,225_|
|||||_226,971_
_353,225_
_580,196_|
The Statement of financial activities includes all gains and losses recognised in the year.
The notes on pages 14 to 28 form part of these financial statements.
Page 10
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED (A company limited by guarantee) REGISTERED NUMBER: 05694721**
## **BALANCE SHEET AS AT 31 MARCH 2026**
|**Note**
**Fixed assets**
Tangible assets
11
**Current assets**
Debtors
12
Cash at bank and in hand
**Current liabilities**
Creditors: amounts falling due within one
year
13
**Net current assets**
**Total assets less current liabilities**
Creditors: amounts falling due after more
than one year
14
**Total net assets**
**Charity funds**
Restricted funds
15
Unrestricted funds
15
**Total funds**|**150,949**
**91,058**
**242,007**
**(160,889)**|**2026**
**£**
**436,001**
**436,001**
**81,118**
**517,119**
**-**
**517,119**
**50,576**
**466,543**
**517,119**|_142,276_
_89,740_
_232,016_
_(107,386)_|_2025_
_£_
_465,566_
_465,566_
_124,630_
_590,196_
_(10,000)_
_580,196_
_61,531_
_518,665_
_580,196_|
|---|---|---|---|---|
Page 11
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED (A company limited by guarantee) REGISTERED NUMBER: 05694721**
## **BALANCE SHEET (CONTINUED) AS AT 31 MARCH 2026**
The Charity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
## **James Dacre**
(Chair of the Board)
## Date: July 20, 2026
The notes on pages 14 to 28 form part of these financial statements.
Page 12
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
|**STATEMENT OF CASH FLOWS**
**FOR THE YEAR ENDED 31 MARCH 2026**||_2025_
_£_
_394,676_
_4,066_
_(410,713)_
**(406,647)**
_(12,000)_
**(12,000)**
**(23,971)**
_113,711_
_89,740_|
|---|---|---|
|**Cash flows from operating activities**
Net cash used in operating activities
**Cash flows from investing activities**
Dividends, interests and rents from investments
Purchase of tangible fixed assets
**Net cash used in investing activities**
**Cash flows from financing activities**
Repayments of borrowing
**Net cash used in financing activities**
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**|**2026**
**£**
**34,264**
**966**
**(21,912)**
**(20,946)**
**(12,000)**
**(12,000)**
**1,318**
**89,740**
**91,058**||
The notes on pages 14 to 28 form part of these financial statements
Page 13
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
**THEATRE503 LIMITED (A company limited by guarantee)**
**NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **1. General information**
The Charity is a company limited by guarantee, incorporated in England & Wales, company number 05694721, having its registered office at 503 Battersea Park Road, London, SW11 3BW.
The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.
Charitable status was granted on 24 July 2006 by the Charity Commission of England & Wales, registered number 1115555.
## **2. Accounting policies**
## **2.1 Basis of preparation of financial statements**
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
Theatre503 Limited meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
## **2.2 Going concern**
After making appropriate enquiries, the Trustees have a reasonable expectation that the Charity has adequate resources to continue in operational existence for the foreseeable future, in the understanding of the increased risk posed as a result of the ongoing precarious economic and fundraising climate, and the increasing operating costs felt across the sector. For this reason they continue to adopt the going concern basis in preparing the financial statements.
## **2.3 Income**
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.
Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of the donation.
Creative industry tax relief claims are recognised to the extent that claims are expected to made and accepted in relation to qualifying expenditure incurred in the year.
Page 14
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
**THEATRE503 LIMITED (A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **2. Accounting policies (continued)**
## **2.4 Expenditure**
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
## **2.5 Interest receivable**
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
## **2.6 Tangible fixed assets and depreciation**
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following bases:
|Long-term leasehold property|- over ten years on cost|
|---|---|
|Other fixed assets|- over ten years on cost|
## **2.7 Debtors**
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **2.8 Cash at bank and in hand**
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
Page 15
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
**(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **2. Accounting policies (continued)**
## **2.9 Liabilities and provisions**
Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost.
## **2.10 Financial instruments**
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
## **2.11 Pensions**
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
## **2.12 Fund accounting**
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Designated funds comprise unrestricted funds that have been set aside by the Trustees for particular purposes. The aim and use of each designated fund is set out in the notes to the financial statements.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 16
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **3. Income from charitable activities**
|Productions
Education, Community & Development
Capital project
Commercial income
**Total 2026**
Productions
Education, Community & Development
Capital project
Commercial income
_Total 2025_|**Unrestricted**
**funds**
**2026**
**£**
180,146
179,093
-
15,350
374,589
_Unrestricted_
_funds_
_2025_
_£_
_207,392_
_159,984_
_-_
_6,929_
_374,305_|**Restricted**
**funds**
**2026**
**£**
71,155
103,377
3,000
-
177,532
_Restricted_
_funds_
_2025_
_£_
_190,353_
_83,950_
_312,315_
_-_
_586,618_|**Total**
**funds**
**2026**
**£**
**251,301**
**282,470**
**3,000**
**15,350**
**552,121**|
|---|---|---|---|
||||_Total_
_funds_
_2025_
_£_
_397,745_
_243,934_
_312,315_
_6,929_
_960,923_|
## **4. Government grants**
|Arts Council England
Wandsworth Council
Gift Aid claims
Theatre tax relief claims
Employment Allowance|**2026**
**£**
**33,154**
**26,030**
**7,886**
**75,443**
**10,500**
**153,013**|_2025_
_£_
_31,950_
_25,290_
_12,705_
_115,567_
_5,000_
_190,512_|
|---|---|---|
There were no unfulfilled commitments or other contingencies associated with the above grants at the end of the financial year.
Page 17
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **5. Investment income**
|Bank interest received
_Total 2025_|**Unrestricted**
**funds**
**2026**
**£**
966
_4,066_|**Total**
**funds**
**2026**
**£**
**966**
_4,066_|_Total_
_funds_
_2025_
_£_
_4,066_|
|---|---|---|---|
|||||
## **6. Analysis of expenditure on charitable activities Summary by fund type**
|Productions
Education, Community & Development
**Total 2026**
Productions
Education, Community & Development
_Total 2025_|**Unrestricted**
**funds**
**2026**
**£**
143,570
288,023
431,593
_Unrestricted_
_funds_
_2025_
_£_
_67,016_
_270,527_
_337,543_|**Restricted**
**funds**
**2026**
**£**
129,507
55,064
184,571
_Restricted_
_funds_
_2025_
_£_
_209,842_
_64,379_
_274,221_|**Total**
**2026**
**£**
**273,077**
**343,087**
**616,164**|
|---|---|---|---|
||||_Total_
_2025_
_£_
_276,858_
_334,906_
_611,764_|
Page 18
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **7. Analysis of expenditure by activities**
|Productions
Education, Community & Development
**Total 2026**
Productions
Education, Community & Development
_Total 2025_|**Activities**
**undertaken**
**directly**
**2026**
**£**
30,139
154,869
185,008
_Activities_
_undertaken_
_directly_
_2025_
_£_
_71,499_
_182,329_
_253,828_|**Support**
**costs**
**2026**
**£**
242,938
188,218
431,156
_Support_
_costs_
_2025_
_£_
_205,359_
_152,577_
_357,936_|**Total**
**funds**
**2026**
**£**
**273,077**
**343,087**
**616,164**|
|---|---|---|---|
||||_Total_
_funds_
_2025_
_£_
_276,858_
_334,906_
_611,764_|
Page 19
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **7. Analysis of expenditure by activities (continued)**
## **Analysis of support costs**
|Staff costs
Depreciation
Theatre and building
Nine Elms running costs
Fees
Interest
Marketing, administration and finance
**Total 2026**|**Total**
**funds**
**2026**
**£**
**285,845**
**51,193**
**28,098**
**19,739**
**7,595**
**1,280**
**37,406**
**431,156**|_Total_
_funds_
_2025_
_£_
_268,787_
_22,120_
_19,443_
_8,848_
_7,870_
_503_
_30,365_
_357,936_|
|---|---|---|
## **8. Independent examiner's remuneration**
||**2026**|_2025_|
|---|---|---|
||**£**|_£_|
|Fees payable to the Charity's independent examiner for the independent|||
|examination of the Charity's annual accounts|**7,000**|_7,000_|
|Fees payable to the Charity's independent examiner in respect of:|||
|All other services not included above|**2,650**|_2,650_|
Page 20
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **9. Staff costs**
|Wages and salaries
Social security costs
Contributions to defined contribution pension schemes|**2026**
**£**
**261,176**
**19,070**
**5,599**
**285,845**|_2025_
_£_
_246,821_
_16,764_
_5,202_|
|---|---|---|
|||_268,787_|
The average number of persons employed by the Charity during the year was as follows:
|Operations
Charitable activities|**2026**
**No.**
**2**
**7**
**9**|_2025_
_No._
_2_
_8_|
|---|---|---|
|||_10_|
No employee received remuneration amounting to more than £60,000 in either year.
The Trustees of the Charity considers that its Key Management Personnel comprise:
- Trustees
- Artistic Director
- Executive Director
The total of employee benefits for Key Management Personnel was £97,235 _(2025 - £81,271)_ .
## **10. Trustees' remuneration and expenses**
During the year, no Trustees received any remuneration or other benefits _(2025 - £NIL)_ .
During the year ended 31 March 2026, no Trustee expenses have been incurred _(2025 - £NIL)_ .
Page 21
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **11. Tangible fixed assets**
|**Cost or valuation**
At 1 April 2025
Additions
At 31 March 2026
**Depreciation**
At 1 April 2025
Charge for the year
At 31 March 2026
**Net book value**
At 31 March 2026
_At 31 March 2025_|**Long-term**
**leasehold**
**property**
**£**
**475,467**
**21,022**
**496,489**
**19,613**
**48,686**
**68,299**
**428,190**
_455,854_|**Other fixed**
**assets**
**£**
**24,943**
**890**
**25,833**
**15,231**
**2,791**
**18,022**
**7,811**
_9,712_|**Total**
**£**
**500,410**
**21,912**
**522,322**|
|---|---|---|---|
||||**34,844**
**51,477**
**86,321**|
||||**436,001**|
||||_465,566_|
The Nine Elms project is currently in the course of construction.
## **12. Debtors**
|**Due within one year**
Trade debtors
Other debtors
Prepayments and accrued income
Tax recoverable|**2026**
**£**
**70,367**
**-**
**11,000**
**69,582**
**150,949**|_2025_
_£_
_15,083_
_11,626_
_-_
_115,567_|
|---|---|---|
|||_142,276_|
Page 22
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **13. Creditors: Amounts falling due within one year**
|Bank overdrafts
Other loans
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**2026**
**£**
**14,348**
**10,000**
**50,176**
**4,064**
**4,547**
**77,754**
**160,889**|_2025_
_£_
_616_
_12,000_
_56,745_
_4,426_
_2,656_
_30,943_|
|---|---|---|
|||_107,386_|
|Deferred income at 1 April 2025
Resources deferred during the year
Amounts released from previous periods|**2026**
**£**
**30,943**
**71,754**
**(30,943)**
**71,754**|_2025_
_£_
_70,000_
_10,943_
_(50,000)_
_30,943_|
|---|---|---|
Grants from Concord of £20,000 and the Arts Council England for the 503Engine project of £10,943 were deferred during the year 31 March 2025 to April and May 2025. A further £71,754 received in the year to 31 March 2026 from PW Productions, 503Engine, D'Oyly Carte and Carne 503Five has been deferred to 2026/27.
## **14. Creditors: Amounts falling due after more than one year**
||**2026**|_2025_|
|---|---|---|
||**£**|_£_|
|Other loans|**-**|_10,000_|
Page 23
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **15. Statement of funds**
**Statement of funds - current year**
|**Unrestricted funds**
**Designated funds**
Nine Elms capital spend
**General funds**
General Fund
**Total Unrestricted funds**
**Restricted funds**
503Five
503Engine
Playwriting Award
Carne Associate Director
Production contributions
Capital project
**Total of funds**|**Balance at 1**
**April 2025**
**£**
**455,854**
**62,811**
**518,665**
**Balance at 1**
**April 2025**
**£**
**7,697**
**-**
**3,100**
**4,366**
**-**
**46,368**
**61,531**
**580,196**|**Income**
**£**
**-**
**375,555**
**375,555**
**Income**
**£**
**17,000**
**15,000**
**3,000**
**12,000**
**127,532**
**3,000**
**177,532**
**553,087**|**Expenditure**
**£**
**(48,686)**
**(382,907)**
**(431,593)**
**Expenditure**
**£**
**(1,567)**
**(12,500)**
**(6,000)**
**(21,039)**
**(143,465)**
**-**
**(184,571)**
**(616,164)**|**Transfers**
**in/out**
**£**
**21,022**
**(17,106)**
**3,916**
**Transfers**
**in/out**
**£**
**(3,500)**
**-**
**-**
**4,673**
**15,933**
**(21,022)**
**(3,916)**
**-**|**Balance at**
**31 March**
**2026**
**£**
**428,190**|
|---|---|---|---|---|---|
||||||**38,353**|
||||||**466,543**|
||||||**Balance at**
**31 March**
**2026**
**£**
**19,630**
**2,500**
**100**
**-**
**-**
**28,346**
**50,576**|
||||||**517,119**|
Page 24
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **15. Statement of funds (continued)**
## **Statement of funds - prior year**
|**Unrestricted funds**
**Designated funds**
Nine Elms capital spend
**General funds**
General Fund
**Total Unrestricted funds**
**Restricted funds**
Slate managed funds
assessor
503Five
503Engine
Rapid Write Response
Playwriting Award
Wandsworth Writes
Carne Associate Director
Capital project
Production contributions
**Total of funds**|_Balance at_
_1 April 2024_
_£_
_65,348_
_2,370_
_67,718_
_-_
_13,634_
_-_
_-_
_-_
_1,447_
_-_
_144,172_
_-_
_159,253_
_226,971_|_Income_
_£_
_-_
_378,371_
_378,371_
_4,450_
_11,000_
_27,500_
_4,000_
_13,000_
_-_
_24,000_
_312,315_
_190,353_
_586,618_
_964,989_|_Expenditure_
_£_
_(19,613)_
_(317,930)_
_(337,543)_
_(4,450)_
_(16,937)_
_(27,500)_
_(4,000)_
_(9,900)_
_(1,447)_
_(19,634)_
_-_
_(190,353)_
_(274,221)_
_(611,764)_|_Transfers_
_in/out_
_£_
_410,119_
_-_
_410,119_
_-_
_-_
_-_
_-_
_-_
_-_
_-_
_(410,119)_
_-_
_(410,119)_
_-_|_Balance at_
_31 March_
_2025_
_£_
_455,854_|
|---|---|---|---|---|---|
||||||_62,811_|
||||||_518,665_|
||||||_-_
_7,697_
_-_
_-_
_3,100_
_-_
_4,366_
_46,368_
_-_
_61,531_|
||||||_580,196_|
Page 25
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
**(A company limited by guarantee)**
## **THEATRE503 LIMITED**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **15. Statement of funds (continued)**
## **Designated funds**
Relating to the Nine Elms capital project representing the amount spent to date less depreciation charged.
## **General funds**
Held to cover future running costs.
## **Restricted funds**
Representing restricted funds received for specific projects less amounts spent thereon. Transfers to the Designated fund correspond to the amount spent on the Nine Elms capital project.
## **16. Analysis of net assets between funds**
## **Analysis of net assets between funds - current year**
|Tangible fixed assets
Current assets
Creditors due within one year
**Total**|**Unrestricted**
**funds**
**2026**
**£**
436,001
191,431
(160,889)
466,543|**Restricted**
**funds**
**2026**
**£**
-
50,576
-
50,576|**Total**
**funds**
**2026**
**£**
**436,001**
**242,007**
**(160,889)**
**517,119**|
|---|---|---|---|
## **Analysis of net assets between funds - prior year**
|Tangible fixed assets
Current assets
Creditors due within one year
Creditors due in more than one year
**Total**|_Unrestricted_
_funds_
_2025_
_£_
_465,566_
_170,485_
_(107,386)_
_(10,000)_
_518,665_|_Restricted_
_funds_
_2025_
_£_
_-_
_61,531_
_-_
_-_
_61,531_|_Total_
_funds_
_2025_
_£_
_465,566_
_232,016_
_(107,386)_
_(10,000)_
_580,196_|
|---|---|---|---|
Page 26
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **17. Reconciliation of net movement in funds to net cash flow from operating activities**
|Net income/expenditure for the year (as per Statement of Financial
Activities)
**Adjustments for:**
Depreciation charges
Dividends, interests and rents from investments
Decrease/(increase) in debtors
Increase/(decrease) in creditors
**Net cash provided by operating activities**
**18.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**
**19.**
**Analysis of changes in net debt**
**At 1 April**
**2025**
**£**
Cash at bank and in hand
**89,740**
Bank overdrafts repayable on demand
**(616)**
Debt due within 1 year
**(12,000)**
Debt due after 1 year
**(10,000)**
**67,124**||**2026**
**£**
**(63,077)**
**51,477**
**(966)**
**(8,673)**
**55,503**
**34,264**
**2026**
**£**
**91,058**
**91,058**
**Cash flows**
**£**
**1,318**
**(13,732)**
**2,000**
**10,000**
**(414)**||_2025_
_£_
_353,225_
_22,120_
_(4,066)_
_30,190_
_(6,793)_
_394,676_
_2025_
_£_
_89,740_
_89,740_
**At 31 March**
**2026**
**£**
**91,058**
**(14,348)**
**(10,000)**
**-**
**66,710**|
|---|---|---|---|---|
Page 27
Docusign Envelope ID: F4B12E59-DBED-88DF-8199-60BC402212EFDocusign Envelope ID: 10FCEB76-E264-8B6F-8168-00D7A352A84C
## **THEATRE503 LIMITED**
## **(A company limited by guarantee)**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2026**
## **20. Pension commitments**
The Charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
The pension cost charge represents contributions payable by the Charity to the fund and amounted to £5,599 _(2025: £5,202)_ .
Contributions of £2,678 _(2025: £2,656)_ were payable to the fund at the balance sheet date and are included in creditors.
## **21. Related party transactions**
The aggregate amount of donations made by trustees or connected parties without conditions during the year was £3,010 _(2025 restated: £1,584)_ .
Eleanor Lloyd, a trustee, provided advances of £15,000 during the year 31 March 2020 to support the charity's cash flow as part of the initial move to the new operating model. Further advances of £30,000 were made during the year to 31 March 2023. £10,000 _(2025: £22,000)_ was outstanding at the end of the year.
Jack Tilbury, a trustee, is a director of Plann Ltd appointed as project manager to lead our Capital project for the development of our new studio space. The charity paid £4,250 _(2025: £51,642)_ in fees related to this project during the year.
There were no other material related party transactions requiring disclosure during the period _(2025: None)_ .
Page 28