Company reglstratlon number: 603S820 Charlty re8lstratlon number: 1120640 SHEFFIELD THEATRES CRUCIBLE TRUST IA company Ilmlted by guarantee) ANNUAL REPORT PERIOD ENDED 31 MARCH 2025
SHEFFIELD THEATRES CRUCIBLE TRUST ANNUAL REPORT PERIOD ENDED 31 MARCH 2025 CONTÉNTS Page Directors, Report Statement of Trustees, Responsibilities Independent Auditors, Report Accounting Policies 12 Slatement of F5nanclal Activltles Ilncluding Income and Expenditure Account) 14 Balance Sheet Is Cash Flow Statement 16 Notes on Accounts 17-26
SHEFFIELD THEATRES CRUCIBLE TRUST DIREcfoRS' REPORT FOR THE PERIOD ENDING 31 MARCH 2025 The Trustees and Directors of the charitable company present their report along with the financial statements of the charity for the period ended 31 March 2025. The financial statements have been prepared in accordance with the accountin8 policies set out on page 12 of the financial statement5 and comply with the charlty's Memorandum and Articles and applicable law. The trusteès have adopted the provisions of the Statement of Recommended Practlce ISORPI"Accounting and Reportlng by Charitie5" IFRS 1021 in preparlng the annual report and financial statements of the charltv. Le8al and administration details Offlclal name of charlty: Sheffleld Theatres Crucible Trust Charlty re81stratlon number: 1120640 Company re&lstratlon number; 6035820 Reqisteied Offlce: 55 Norfolk Street Sheffield SI IDA Dlrectors and Trustees: Mr Neil Adleman Ms Kate Booth Mr Matthew 8yam Shaw Dr Anni Dornin80 Mr Richard Huntrods Mr Robert Noble Ms Catherine Pakenham Chlef EXecl¥e. Torn Bird Bankers; Barclay$ Bank I St Paul's Place Norfolk Street Sheffleld Sl 2JW Auditors: Hawsons Chartered Accountants Statutory Auditors Pe8a5U5 House 463a Glossop Road Sheffield 510 ZQD
SHEFFIELD THEATRES CRUCIBLE TRUST DIRECTORS, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 (continued) Strurture. Governance and Managèment Go¥ernlng document Sheffield Theatres Crucible Trust Limited {STCT}15 o company limited by guarantee governed by its Memorandum and Articles of Association dated 2 1 Oecember 2011, It is iegistered as a charity With the Charity Commisslon. Sheffield Theatres Trust Is the sole member of the organlsation and it has 7 trustees. Objects The primary objects of the charlty specified In the Memorandum and Artlcles of Assoclation are.. the advancement of the arts and to educate the public In the art of drama In particular by the production, promotion. presentation and the mana8ement of plays. rnlme, ballet, dance, sln8in8, muslc and any other artistlc works at The Crucible Theatre and such other preffli5e5 ofthe Company or elsewhere. the advancement of educatlon through the development and delivery of creative learning pro8rammes for people of all a8es includln8 partlcularty learning to act. produclng play5 and artlsts work and script wrilln8 by way of workshops, talk5 and perforrnances. Or8an15atlon The board of trustees, which must have no fewer than 4 members. admlnisters the charity. The board meet5 quarterly and there are 5ub.committees covering finance and audit. human re50urce5 and trustee nominatlons whlch meet regularly. A Chlef Executlve is appointed by the trustees to manage the day to day operations of the charity. To facilitate effective operations, the Chief Executive has delegated authority, withln terms of delegation approved by the trustees, for operational matters including finance, employment and artlstlc performance related activlty. Appolntment of trust••$ Seven trustees are nominated by Sheffield Theatres Trust and an elghth, wlth Commercial industry experience, Is co.opted by the nominated trustees. There is currently one vJcancv. Trustee Indurtlon and Iralnln8 New trustees are invited to the registered office of STCT to meet with the Senlor Mana8ement Team to brief them on their lega I obligations under charity and company law, the content of the Memorandum and Articles of A55oclation, the committee and decislon.makin8 processes, the buslness plan and recent financial performance of the charitv. Publlc benellt The board of trustees have complied with the duty in Section 4 of the Charities Act 2(K16 to have due regard to public benefit guidance published by the Commission. The ¢harity seek5 to maximi5e attendance and particlpation in its activities to ensure that audiences are drawn from every socio-economic 8roup and age fange. It does thls by advertlsing to the public ihrou8h the media, print, soclal network and reachln8 Out to the local community. Our accesslble performances include the monthly Dementia Tea Dances. We continue to offer tlckets at £5 under the Uve for 5 scheme to everyone between the age of 16 and 26.
SHEFFIELD THEATRES CRUCIBLE TRUST DIREcfoRS' REPORT FOR THE PERIOD ENDED 31 MARCH 2025 (cont5nued) Prlncipal R15ks and Uncertaintles The Trustees are committed to the identification and management of the malor strategic, business and operational risks which the charity face5. The principal financlal risk5 revolve around the failure of a production at the Box Off ice. for whatever reason, and the potentially adverse effect on both profitability and cash flow. This is partlcularly relevant in theatre buslness where completely new programme of works is embarked on Èach year, The Trustees and Senior Management are fully aware of the risk profile in the bLrsiness and a multi.function team of mana8ers withln the organlsation is tasked wlth communlcatln8 wlth all levels of the or8anisation to identify all risks and re8ularly update a detailed risk register identifyin8 likelihood and impact tO8ether with actions necessary to mitlgate the risk. This 15 consi dered by the Flnance & Sustainability Committee and then presented to the main board. Related partles Sheffleld Theatres Cruclble Trust, City of Sheffield Theatre Trust, Offstage Ltd. Sheffield Cruclble Productlons Ltd and The Montgomery Theatre and Arts Centre Ltd are all subsidiaries ol Sheffield Theatres Trust. Oblectlves and a¢tlvltles The maln objectlves for the perlod continue to be the promotion and fostering of artistlc knowledge and the appreclation of the arts by the provision and future development of faclllties for the educatlon and entertainment of the public in ihe fields of art, craft. music and drama. The strate8ies employed io achleve the charlty's oblectlves are to: offer opportunities for a broad range of people to get involved In arts actlvlty explorlng their own creative power5,' provlde facllltles for amateur and professlonal artlsts to develop. Groups In the clty are given discounted rates for hire of space and access to professional advice; concentrate on involvln8 youn8 people in the arts to help encourage a culture in whlch dlfferent age ranges play complimentary part: celebrate the diversity of cultures in our society by programming presentations by. and wlth. artlsts of dlfferent cultural back8rounds.' present a broad range of arts work. The major areas of actlvity are.. produced stage performances,, received stage performances- a creative development programme providlng educational programmes for all age groups.
SHEFFIELD THEATRES CRUCIBLE TRUST DIREcfoRS' REPORT FOR THE PERIOD ENDED 31 MARCH 2025 (contlnued) Strateiic Report The Trustees present their Strategic Report for the period ended 31 March 2025. Achl¢vements and performan¢e Sheffield People's Theatre returned to the Tanya Moiseiwitsch Playhouse In August 2025 wlth Somethlno Old, Somethlnq New, written & directed by Tess Seddon. In September 2024 we produced a critically-acclaimed new adaptation of Henrik Ibsen's A Doll's House by Chris Bush {• ** The Guardian. * • • The Times). Also in September, we continued our excellent co-produclng relatlonshlp wlth Theatre Centre as Dluy by Mohamed Zaln-Dada premiered in the Playhouse I Yorkshire Postl. Later In the auturnn, we produced the World premiere of Kenrexbyjack Holden and Ed Slambollouian in the Playhouse. The show was a huge success crltically { Daify Telegraph *** * The Guardian Dally Mall) and has been plcked up by a malor West End and Bioadway producer. Our pantomlme, Snow Whlte, co-produced wlth Evolutlon Pantomlmes, was an exceptional success (•• ** The Stapel and won Best Pantomlme lover 900 seats) at the Gieat 8rltish Pantomlme Awards. In the Crucible at Chrlstmas, we produced a new revival of Llttle Shop ol Horrors (** The Times • • The Stogel directed by Amy Hodge. Our produclng work in 2025 be8an with a co.produetion with the Unicorn and Fiery An8el I CTP of Plg Heurt Boy- a brand-new adaplation by Winsome Pinnock of Malorie Blackman's novel I Whot's On Stage
Time Outl. Our h'na1 show In the period was Josh Seymou¢s new production of Tennessee Williarns, A Streetcor Named Deslre l••*• The Stage Whot's On Stage). This show was the final production programmed by Rob Hastle. Our Work Beyond Sheffield Llft olPI contlnued it5 amazlng journey. enjoying a major US tour as well as playing venues in Asia. Plq Heart Boy undertook a major UK tour, playing to 28,564 people acr05S the country. Dlzzy toured UK schools and theatre in autumn 2024. Kenrex enloyed a successful run at Southwark Playhouse in London, in co-production with Aria Entertainment.
SHEFFIELD THEATRES CRUCIBLE TRUST DIREcfoRS' REPORT FOR THE PERIOD ENDED 31 MARCH 2025 {contlnued) Audiences Over 52.OCKJ people attended Snow Whlte In the Lyceum- another bumper pantomime year. During the same period. over 30,000 people attended Llttle Shop oAHorrors in the Crucible. Meanwhile. our strong drama audiences continued as over 15,000 people attended A Streetcor Named Deslre in sprlng 2025. Creatlve Engagement In a year of change for the team, we rnana8ed to inau8urate Sheffield Theatre5' new Youth Theatre.. at present, this is a free, targeted scheme. We are con5ClOUS that the Crucible Youth Theatre had a major impact on young people in the Clty in the th final decades of the 20 century.. it is a joy to see It returnl We have appointed a new Creative Engagement Director In June 2025. Talent Development Our artlsts, space, The Bank, continued to thrive In the perlod. A new cohort have enloyed an excellent year working alongsid e the ST staff team. The Cohort members recelved guidance and funding In order to pursue creative projects, while belng mentored by the ST team. The Makln8 Room contlnued to offer a supportive network and development opportunities for arti5t5 based in Sheffleld and the surrounding area5, and to promote the provlslon of artlst development In South Yorkshlre more widely. Flnan¢lal ftevlew Sheffleld Theatres Crucible Trust 8enerated a surplus on unrestrlcted funds of £209,92612024'. £71,4721. Revenue grants of £868,943 from Arts Council En8land, and £194,067 from Sheffleld City Council, were recelved as a transfer from Sheffield Theatres Trust. Investment powers and pollcv Under the Memorandum and Artlcles of Assoclation, the charity has the power to Invest in any way the trustees wlsh. Ile$er¥es policy The company 15 part of the Sheffield Theatres Trust group and its reserves are taken into account as part of the group's reserves pollcy. The Crucible is a Grade 11 listed buildin8, built in 1971 and requlring a high level ol upkeep. Certain reserves have been de518nated for unforeseen major bullding repalrs, the net book value of unrestrlcted tangible fixed assets, a fund for research and development workshops for new plays prior to full comm155ioning and a production reserve to support increased production costs a5 set out in note 9,
SHEFFIELD THEATRES CRUCIBLE TRUST DIRECTORS, REPORT FOR THE PERIOD ENDED 31 MARCH 2025 Icontinued) Future Plans In summer 2025, we are resuming our Launchpad and Together Festival programmes. Our to.production with Paines PIou8h and Belgrade Coventry, Consumed, opens at the Traverse in Edinburgh In August as part of their festival programme. Autumn beg*)s with Elliabeth Newman's first production, Donclng ot Luqhnasa by Brian Frlel and also sees Consumedcome into the Tanya Moiseiwitsch Playhouse. Christmas is on course to be Our busiest ever. with-. Aladdln in the Lyceum,. Alsha Khan's brand new adaptation of A Chrlstmas Carol (featuring Sheffield's own carols) in the Cruclble and a vlslting production, Chrfstmos Llghts by Filskit Theatre, In the Tanya Moiseiwitsch Playhouse. In the sprin8, we will produce a world premiere, The Ladles, Footboll Club by Tim Flrth adapted from Stefano Massini's original about the beginnings of women'5 football in Sheffield, as well as co-producing Cmwn of Bloodwlth Utopia Theatre and My Brotherfs a Genlu5 Wlth Theatre Centre. Finally, Summer 2026 will see a new version ofSummerHalldoy play the Crucible, Dlrectows The dlrecttys. who are also trustees of the charity. durlng the period and to the date of this report were as follows.. Nomlnated by Sheffleld Theatres Trust Mr Neil Adleman Ms Kate Booth Dr Anni Domingo Mr Richard Huntrods Dame Julle Kenny DBE DL Idece35ed 21 February 2025} Mr Roberi Noble Ms Catherine Pakenham Elected Mr Matthew Byam Shaw
SHEFFIELD THEATRE5 CRUCIBLE TRUST DIREcfoRS' REPORT FOR THE PERIOD ENOED 31 MARCH 2025 (contlnued) Constltutlon The company is a company limited by guarantee and not having a share capital. Each member gives a guarantee to contribute a sum not exceeding El to the company should it be wound up. At 31 March 2025 there were 7 members. Statement of Trustees, Responslbllltles The trustees (who are also directors of Sheffield Theatres Crucible Trust for the purposes of Company lawl are responsible fo r preparing the Trustee5' Annual Report and the flnanclal statements in accordance with applicable law and United Kln8dom Accounting Standards (United Klngdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each flnancial period, which give a true and fair view of the state of affairs of the charitable company and of the incomin8 resources and applicatlon of resources, includin8 the income a nd expenditure. of the ¢harltable company for that period. In preparin8 these financlal statements, the trustees are required to: select suitable accounting policies and then apply them con51Stently,' observe the methods and principles in the Charlties SORP IFRS 1021; make judgements and estimates that are reasonable and prudent; state whether applicable UK Accountlng Standards have been followed,. prepare the financial 5tatefflents on the 80in8 concern basis unless it is inappropriate to presume that the charltable company wlll continue in operation. The trustees are responsSble for keeplng adequate accountin8 records that disc105e wlth reasonable accuracy at any time the flnanclal position of the charitable company and enable them to ensure that the financial statement5 comply with the Companles Act 2IXI6. They are also responslble for safeguardin8 the assets of the charitable company and hence for takin8 reasonable steps for the prevention and detection of fraud and other irregularitles. ststement of dlsclosure of Inlormallon lo audltors In so far as the trustees are aware., there is no relevant audit information of which the Charitable company's auditor5 are unaware, and the trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that Informatlon In approvlng tho TrusteO5' Annu•l Report. we also ipprove the Stratellr Report Included thereln. In our capa¢lty as Company dlreciors. 518ned on behalf of the board Mr Matthew 8yam Shaw Sheffleld Theatres Cru¢lble Trust Dat•:
SHEFFIELD THEATRES CRUCIBLE TRUST INDEPENDENT AUOITORS, REPORTTO THE TRUSTEES OF SHEFFIELD THEATRES CRUCIBLE TRUST Oplnlon We have audited the financial statements of Sheffield Theatre5 Crucible Tf Ust (the 'charitable company'l for the period ended 31 March 2025 whKh comprise the statement of flnancial activities lincorporating the income and expenditure accountl. the balance sheet, the statement of cash flows and note5 to the financial statements. includlng a summary of significant accounting policies. The financlal reporting framework that ha5 been applied in their preparation is applicable law and United Kin8dom Accounting Standard5. includin8 Financial Reporting Standard 102 The Financiol Reporting Stondord opplicable in the UK ond Republic of Ireland (United Klngdom Generally Accepted Accounting Practice). In our oplnion the financial statement5.' give a true and fair vlew of the state of the charitable companvs affairs as at 31 March 2025 and of its Incornlng resources and appllcatlon of resources, including its income and expendlture, for the perl¢)d then ended. have been properly prepared In accordance with United Kingdom Generally Accepted Accounting Practice, and have been prepared In accordance with the requlrements ofthe Companles Act 2006. Bas15 fpr oplnlon We conducted our audlt In accordance wlth International Standards on Auditln8 {UK) IISAS IUKII and applicable law. Our responsibilitie5 under those standards are f(¢rther described in the Auditor's responsibilities for the audlt of the flnanclal statements section of our report. We are independent of the charitable company In accordance with the eihlcal requlrements that are relevant to our audit of the financial statements in the UK, In¢lvdin8 the FRC'S Ethlcal Standard, and we have fulfilled our other ethlcal responsibilitles In accordance wlth these requirements. We believe that the audit evldence we have obtained is sufficient and appropriate to provlde a basis for our opinion. Coneluslons relatlni to Kolng concorn In auditin8 the financial statements, we have concluded that the trustees, use of the goln8 concern basis of accountlng in the preparation of the flnancial statements is appropriate. 8ased on the work we have performed, we have not identified any materlal uncertainties relating to events or condltlons that, indivldually or collectively. may cast slgnificant doubt on the charltable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authori5ed for issue. Our responsibilitles and the responsiblllties of the trustees with respect to goin8 concern are described in the relevant sections of thls report. Other Inform•tlon The other informat¢on comprlses the Information included in the trustees, annual report, other than the finènclal statements and our auditor's report thereon. The trustees are responslble for the other Information contained within the annual report, Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon, Our re5pon5ibility 15 to read the other informatlon 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 audit or otherwlse appears to be materially mi55tated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether thls gives rise to a material misstatement In the financlal statements themselves. If, based on the work we have performed, we conclude that there Is a material misstatement of this other information. we are required to report that fact. We have nothlng to report In this regard.
SHEFFIELD THEATRES CRUCIBLE TRUST INDEPENDENT AUDITORS, REPORTTO THE TRUSTEES OF SHEFFIELD THEATRES CRUCIBLE TRUST (contlnued) Opinion5 on other matters prescribed by Ihe Companles Act 2006 In our opiThon, based on the work undertaken in the course ol the audil: the information given in the trustee5' report lincorporaling the strategic report and the directors. report) for the financlal period for which the financlal statement5 are prepared Is conslstent with the financial statements: and the strategic report and the dlrectors. report have been prepared in accordance wlth applicable le8al requlrements. Matters on which we are regulred to raport by exception In the li8ht ol our knowled8e and understandbng ol the charitable company and its environment obtained in the course of the audit, we have not identified rnaterial misstatements In the strategic report and the dlrectors. report. We have nothln8 to report In respect of the followlng matters In relation to whlch the Companies Act 2006 requires us to report to you if, in our opinion: adequate accounting record5 have not been kept, or return5 adequate lor our audlt have not been received from branches not vislted by us- or the financial statements are not In agreement with the accounting records and returns. or certa•n dlsclosures of directors, remuneration spe¢lfled by law are not made; or we have not recelved all the Information and explanations we requlre for our audit. Re$pon$lbllltles of trustees As explalned rnore fully in the tru5tees' responslbllltles statement set out on pa8e 7. the trustees (who are also Ihe directors of the charitable company for the purposes of cornpany lawl are re5ponslble for the preparation of the financial statements and f or bein8 satlsfied that they 8ive a true and falr view, and for such internal control as the trustees determine is necessary to enable the preparation of financlal statements that are free from material misstatement, whether due to fraud or error. In preparing the financlal statements, the trustees are responsible for assessing the charltable company's ability to contlnue as a going contern, disclosin8, as applicable, matters related to goin8 concern and usin8 the goln8 concern basis of accountin8 unle55 the trustees either intend to liquidate the charitable company or to cease operatlons. or hawe no realistic alternatlve but to do so.
SHEFFIEU) THEATRES CRUCIBLE TRUST INOEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF SHEFFIELD THEATRES CRUC18LE TRUST (contlnued) Audltorfs responsibilities for the audlt of the flnonclal statements Our otyectives are to obtain reasonable assurance about whether the financial statÈments as a whole are free from mèterial misstatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance Is a high level of assurance, but Is not a guarantee thèt an audit conducted in accordance with ISAS IUKI will always detert a material mlsstatement when It exists. MisstatemÈnts can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economlc deci540ns of users taken on the basls of these financi al statements. The extent to whlch our procedures are capable of detectin8 Irre8ularitles, Includlng fraud is detalled below: The charitable company Is subject to laws and regulations that directly and Indlrectly affect the financial statements, Based on our under5tandin8 of the charlty and the environment it operates wlthln, we determined that the laws and resulatlons whlch were most significant Included FRS 102 and the Companie5 Act 2006. We considered the extent to which non.compliance with these laws and regulations might have a material effect on the financial statements. including how fraud rni8ht occur. We evaluated rnanagement's Incentives and opportunities for fraudulent manipulatlon of the financial statements {including the rlsk of overrlde of controls), and determined that the prlnclpal risks were related to the postin8 of inappropiiate journal entries to improve the charity's result for the period, and management bias In key accounting estimates. Audit procedures performed by the en8a8ement team Included: Discu551ons with management and those responslble for legal compllance procedures within the charitable company to obtaln an understanding of the legal and regulatory framework applicable to the charlty and how the charity complies with that framework, Includ•ng consideration of known or suspected Instances of non-compllance wlth laws and regulatlons and fraud; Revlewln8 minutes of Trustee meetin85; Identifyin8 and assessing the design effectlveness of controls that management has in place to prevent and detect fraud and non.compliance with laws and regulations,. Challen8in8 a55umption5 and Judgements made by management In thelr 51Enificant accounting estimates. Identifyin8 and testin8 journal entrles, In particular any journal entrles posted with unusual account cornbinations or posted by senior managernent. A further description of our responslbilities Is avallable on the Financial ReportlnB Council's webslte at www.frc.org.uVaudltor5laudit-assurance/auditor-s.responslbllltles.for-the-audlt-of-the-fi/descrlption.of-the-audltor'5- responsibilities.for. Thls descrlption forms part of our audltor's report, 10
SHEFFIELD THEATRE5 CRUCIBLE TRUST INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF SHEFFIELD THEATRES CRUCIBLE TRUST (contlnued) Use of our report Thi5 report 15 made 501ely to the charilable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we mlght state to the charitable company's members those rnatters we are required to state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable company's members as a body, for our audit work. for this report, or for the oplnions we have formed. Simon 8laden, Senior Statutory Auditor For and on behalf of Hawsons Chartered Accountants, Statutory Auditors Pegasus House 463a G10550p Road Sheffleld SIO 2QD Oate: + U. ZoZ5
SHEFFIELD THEATRES CRUC18LE TRUST ACCOUNTING POUCIES The following acccuntin8 policies have been used consistently in dealing with Items which are considered material to the company's affairs. Ststutory Informatlon Sheffield Theatres Crucible Trust is a charity {No. 11206401 and a company limited by 8uarantee (No 6035820> domiciled in England and Wales. The registered office is at 55 Norfolk Street, Sheff held. Sl IDA. Accountln8 ConvÈntlon The charity constitutes a public beneflt entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommend Practice applicable to charltles preparing their accounts in accordance with the Flnancial Reporting Standard applicable in the UK and Republic of Ireland Issued in October 2019. the Financlal Reportlng Standard applicable in the Unlted Kin8dom and Republic of Ireland IFRS 1021, the Companles Act 2006 and UK Genera Ilv Accepted Practice. The presentation currency is United Kingdom pounds sterlin& whlch 15 the functlonal currency of the charitv, The financial statements have been prepared on a golng concern basbs which assumes Ihat the company wlll contlnue In operatlonal exlstence for the foreseeable future. Inwmln8 Resources From Generaled Funds Volunlary Income primarily represents £rants recewable. Revenue 8rants are reco8nised at falr value when the company has entltlement after any performance conditn5 have been met, It is probable that the income wlll be recelved and the amount can be measured reliably. Grants to flnance capital expenditure are credlted to restrlcted funds uslng the same crlterla as revenue grants, Incoming resources from charitable activities prlmarily represent ticket sales and related fees for pèrformances conducted in the period. Any tlckets sold in advance are Included in cash and deferied income. Charltible A¢tlvltles Charitable activitles Include expendlture associated with the staging of shows and Include both the dlrect costs and support costs felatin8 to these actfvities. Olher Costs Other costs include those incurred in the 8ovèrnance of the charity and its a55ets and are prlmarily assoclated wlth constltutlonal and statutory requlrements. Tanglble Assets Tangible assets for use by the charlty are capitallsed if they can be used for more than one year and cost over £1,500. They are valued at cost. No depreciatlon is provided in the year of acquisition. Leasehold property - Thi5 15 depreciated in equal annual Instalments over the 99-year period of the lease. Equiprnent and furniture- These are depreciated in equal annual Snstalments over thelr estlmated useful Ilves which range from 3 to 10 years. No depreclath)n 15 provided In the year of acquisltion. 12
SHEFFIELD THEATRES CRUCIBLE TRUST ACCOUNTING POLICIES (continued) Reserve5 Restricted Funds- Amounts recelved to finance capital expenditure or where a donor specifies the precise purpose for which the amounts donated must be used are credited to Restricted Funds. Depreciation on the assets financed by the Restricted Funds is charged directly to the Restricted Fund In the Statement of Financlal Activltles. Designated Funds- Amounts that have been specified by Trustees to be vsed for a particular purpose are credited to Designated Funds. Thls Includes a fund for unforeseen maJor bullding repairs, a fund for the net book value of unrestricted tanglble fixed assets. a fund for research and development workshops for new plays and musicals prior to full commissionin8 and a production fund to support increased production costs. Unrestrlcted Funds - These are reserves not designated or restricted for a special purpose. These are available at the dlscretion of the Trustees for such purposes as the Theatre may require. The Trustees. aim is to maintain sufflcient unrestricted reserves to safeguard the financial viability of the Company. Lea5 Renta15 payable under operating lea5e5 are charged In the Statement of Flnancial Activities In the period in which they are Incurrèd. Golni concern After due consideratlon of all relevant factors the company's Income and cash flow forecasts and projections indicate that the company should be able to contlnue to operate lor the foreseeable future. The Trustees Iherefore have a reasonable expectation that the company has adequate resources to contlnue In operatlonal ex15ten¢e for the foreseeable future. Accordin8ly, they continue to adopt the going concern bJ515 In preparing the financial statements. 13
SHEFFIELD THEATRES CRUCIBLE TRUST STATEMENT OF FINANCIAL AcfiviTIES IINCLUDING INCOME AND EXPENDITURE ACCOUNT) PERIOD ENDED 31 MARCH 2025 Period Ended 31 March 2025 Total Year Énded 31 Julv 2024 Total Unrestrlcted Funds Restrlcted Fund5 Notes Incomlnz resources Incomlng resources from generated funds: Donations and legacies Othef trading activities Inve51ment Income Incomin8 resources from charitable actlvlties 1.778.313 26,667 loo,000 74,819 1.853.132 26.667 i(MJ,000 2.074.387 40,000 168,750 2,693.052 2.693,052 3.193.137 Total Incomln8 re¥r¢•5 4,S98,032 74,819 4,67Z,851 5,476.274 R•sources expended Raising funds Charitable actlvitie5 620 620 S79 4,355,546 7.000 4,363,166 177,625 4,533,171 7,000 4,540,791 5.665,358 5,300 5.671,237 Other Total resources expended 177,625 Net Incomln81{out8olni} resaurc•s befor• transhrs 234.866 (102,806) 132,060 1194.963) Transfers between funds 124,9401 24.940 Net movement In Fund$ 209.926 177.866) 132,060 (194,963) Fund balances brought forward at l Au8USt Fund balance$ carrled forward at 31 March 2025131 Juty 2024 892.340 5.243,014 6,135,354 6,330,317 1,102,266 5,165,148 6,267.414 6.135,354 There are no recognlsed 8alns and losses other than the results for the period set out above. There is no difference between the amounts stated above and their hlstorlcal cost equivalents. There were no dlscontlnued operations. 14
SHEFFIELD THEATRE5 CRUCIBLE TRUST COMPANY REGISTRATION NUMBER 6035820 BALANCE SHEET 31 MARCH 2025 31 March 2025 31 July 2024 Note5 FIXED A55ETS li 5,427.061 5,499,194 CURRENT A55ETS Debtors 12 463.659 1,345,436 1.809,095 923.082 730.105 1.653,187 Cash at bank and in hand 13 CREDITORS Amounts fallin8 due within one year 14 1968,7421 11,017,027) NET CURRENT ASSETS 840,353 636,160 NET ASSETS 6,267,414 6,135,354 RESERVES Restricted funds Designated funds General fund 5,165,148 886,416 215,8SO 6,267,414 5,243.014 695,873 196,467 6,135,354 These flnanclal statements were approved and authorised for issue by the board of directors on . 25 and signed on its behalf bv.. AL Mr Matthew Byarn Shaw - Dlrector 15
SHEFFIELD THEATRES CRUCIBLE TRUST STATEMENT OF CASH FLOWS PERIOD ENDED 31 MARCH 2025 Perlod Ended 31 March 2025 Year Ended 31Juty 2024 Notes Cash flow from operatlnz aetlvitles 65S,807 11,612,176) Cash flow from Inve$tlni aet5vlties Capital expendlture Bank inlerest received Net Cash flow from Investln8 •¢tlvltle$ 1140,4761 loo.000 140,4761 (251,198) 168.7SO 182.4481 N•t Increase/ldecreasel In cash and cash equlvalent$ 615,331 11,694,624) Cash and cash equivalents at l Au8USt 730,105 2.424,729 Cash and cash equivalents at 31 March 2025 / 31 July 2024 1,345,436 730,105 Cash and cash equivalents conslsts 01: Cash at bank and In hand 1,345,436 730,105 16
SHEFFIELD THEATRE5 CRUCIBLE TRUST NOTES ON ACCOUNT5 PERIOD ENDED 31 MARCH 2015 I INCOME FROM DONATIONS AND LEGACIES Perlod Ended 31 March 2025 Year Ended 31 July 2024 Unrestrlcled Arts Council England Access to Work 868,943 8,844 194,067 2,863 lis 1,303.415 43.017 291.433 694 210 Sheffield Clty Councll Donatlons and 8ifts Sponsorship Gift Aid 703.481 1,778,313 435,618 2,074,387 Total unrestrlrted Restrlcted Sheffleld Clty Council - UKSPF Low Carbon Prolect Total restrlcted 74,819 74,819 Total 1,853.132 2,074,387 17
SHEFFIELDTHEATRES CRUC18LE TRUST NOTES ON ACCOUNTS Icontinued) PERIOD ENDED 31 MARCH 2025 2 INCOME FROM CHARITA8IE ACTivmES Perlod Ended 31 March 2025 Year Ended 31 July 20Z4 Unrestrict•d Ticket and related s31es 2,693,052 3,193,137 3 STAFF PARTICVLARS Perlod Ended 31 March 1025 Year Ended 31 July 2024 Staff costs recharged comprised: Wa8es and salaries Social security costs Pension cost5 1,124,616 107,829 73,167 1,305,612 1,615,427 139,638 106,768 1,861,833 All staff have contracts of employment with Sheffleld Theatres Trust and are rechar8ed by that company to Sheffield Theatres Crucible Trust. Remuneration of key mana8ement personnel is dlsclosed In Sheffleld Theatres Trust. No staff recelved annual emoluments In excess of £60.000. One director Is pald £6.00012024.. £6.0001 per annum as a consultant to provide commercial production advice to the trust. Durin8 the period the same dlrector received a profit share of £2.74912024: £3.219). No other renumeration Of expenses were paid durin8 the period to the other 7 directors of the company. 18
SHEFFIELD THEATRES CRUCIBLE TRUST NOTES ON ACCOUNTS (contlnued PERIOD ENDED 31 MARCH 2025 4 NET INCOMINGIIOUTGOING) RESOURCES Perlod Ended 31 March 2025 Year Ended 31 July 2024 lal Thls is stated after charging/lcreditingl'. Auditors, remuneralion as auditors 7,000 212.609 (ioo,000) 5,300 314.796 1168,7501 Depreclatlon Bank interest receivable Operating lease rentals: Land & buildings 44,834 47,183 5 RECONCILIATION OF NET INCOME TO NET CASH FLOW FROM OPERATING AcfiviTIES Perlod Ended 31 March 2025 Year Ended 31 July 2024 Net Income/lexpendlturel Bank interest receivable 132,060 {100,0001 212,609 459,423 {48.2851 65S,807 1194,9631 1168.7501 314,796 316,354 11,879,613) 11,612,176) Depreciation Decrease in debtors Decrease In credltors Net cash Inflowlloutflowl from operating aclivlties 6 RESOURCES EXPENDED ON RAISING FUNDS Perlod Ended 31 March 1025 Year Ended 31 July 2024 Fundraising 620 579 19
SHEFFIELD THEATRES CRUCIBLE TRUST NOTES ON ACCOUNTS (contlnued) PERIOD ENDED 31 MARCH 2025 7 COST OF CHARITABLE ACTIVITIES Perlod Ended 31 Morch 2025 Year Ended 31 Julv 2024 Productlon Costs Staffing cost5 Scenery, costtsmes, materials Productlon servlces Royaltles and cornmlssionln8 fees Additional dlrectors., deslgners, and other guests, fees Indirect production consumables Miscellaneous c05t5 Educatlon project stèfflng costs Educatlon project costs Visitlng companies fees and other costs Re.charge to co-producers and visiting companies Programme costs Llcences and subscriptions 3,406 163,711 1,842.097 35,285 29.368 50.214 47,402 80,435 43,399 41,433 8,497 193,882 1,860,305 103,963 18,990 54.044 88.505 120.868 62,888 201,586 112,2181 10,608 1,008 2,712,926 21,234 374 2,358,358 Staff Costs Staffin8 Costs Tralnin& recruitrnent and other costs 1,139,368 5,735 1.145,103 1,605,879 14,259 1,620.138 Establlshment Costs Rent, rates and Insurance Heat and power Electrlcity Repairs and renewa15 Waste disposal Depreciation 124,484 35,379 124,371 63,753 19,503 177,625 545.115 169,768 42,767 137.147 111.839 26,986 266,435 754.942 Sellln8 Costs Publicity and advertisln8 Box office computer Systems Miscellaneous selling costs Credit Card commission 216.501 24,241 10,179 23,932 7,346 613 193,696 33,715 2.734 54,165 15,219 1.253 300.782 Telephone, postage, stationery and photocopying Travel and entertainin8 282,812
SHEFFIELD THEATRES CRUCIBLE TRUST NOTES ON ACCOUNTS (Continued) PERIOD ENDED 31 MARCH 2025 7 COST OF CHARITABLE ACTIVITIE51contlnuedl Peilod Ended 31 March 2025 Year Ended 31 July 2024 Support Costs Staffing costs TralnlnL reciultment and other costs Depreciation Telephone, postage, stationery and photocopying IT malntenance and perlpherals Travel and entertainin8 Professional charles Bank charges Llcences and subscrlptlons Securlty Mlscellafieous 82,403 17,337 34,984 1,275 15,406 9,720 5.341 2.977 22,923 126,589 26,715 48,361 2,109 16,323 12,372 9,776 4,742 15,878 8,453 5,252 276,570 2,357 201,783 Total costs of chaf itable activitles 4,533.171 5,665,358 8 OTHER COSTS Perlod Ended 31 March 2025 Year Ended 31 July 2024 Auditors, remuneration - governance costs 7,lJ)O 5.300 21
SHEFFIELD THEATRES CRUCIBLE TRUST NOTES ON ACCOUNTS (contlnued) PERIOD ENDED 31 MARCH 202S 9 RESERVES At l August 2023 Incoming Resourtes Out80ini Resour¢e5 Transfers At31 July 2024 RESTRICTED Accumulated 8uildin8 Fund Garfield Weston Culture Fvnd Capital Redevelopment Fund Tolal Re$tricted Funds 592,757 109,563 4,807.129 5,509.449 112.4341 127,3911 {226.6101 1266,435) 580,323 82,172 4.580.519 5,243.014 UNRESTRicfED General 28.868 305,000 5,476,274 15,404,802) 96,127 1101,1981 196,467 203,802 Oesignated - major repairs Oeslgn3ted- artistic research & development 187,000 187.000 Oes18nated- production 300,0(K) 300,000 Designated- Emily's welcome Total Vnre$trl¢ted Funds 5.071 5.071 892,340 820,868 5,476.274 (5,404,8021 Tolal Funds 6,330,317 5,476,274 (5.671,237) 6,135,354
SHEFFIELD THEATRES CRUCIBLE TRIJST NOTES ON ACCOUNTS (continued) PERIOD ENDED 31 MARCH 2025 9 RESERVES Icontlnuedl At l August 1024 Incomlng Resources Outgoln Resourtes At 31 Mareh 2025 Transfers RESTRicfED Accumulated Bulldin8 Fund Garfield Weston Culture Fund 580.323 82,172 4,580,519 5,243,014 18,289) 118,261) (151,075) (177,6251 572,034 63,911 4,529,203 5.16S.148 Capital Redevelopment Fund Total Restrlcted Funds 74,819 74,819 24,940 24.940 UNRESTRicfED General Desi8nated major repalrs Deslgnated - artlstlc research & development Desi8nated production Desi8nated fixed asset Designated - Emily's welcome Total Unrestrlcted Funds 196,467 203,802 4,597.462 14,193,182) 1384,8971 124,9401 215,850 178,862 187,000 135,0001 88,000 240,000 300,IXIO (100,000) 134,9841 200,000 261,913 5,641 1,102,266 296,897 5,071 892,340 570 4,598,032 {4.363,166) 124,9401 Total Funds 6,13S,354 4,672,851 {4,540,791) 6,267,414 The accumulated buildin8 fund is amounts received to finance improvements to leasehold premises and purchase furniture and equlpment The Garfleld Weston culture fund 15 the balance of funds recelved to finance purchases of dlgital equipment now capitalised. The capital redevelopment fund is the balance of funds received to finance the redevelopment work on The Crucible Theatre now capitalised. The designated fund for major repairs and renewals Is a fund for unplanned major repairs. Investment into new equipment or the refurbishment of the theatre. The deslgnated fund for artistic research & development is for research and development of new plays and musicals prior to full cornmissioning. The production fund is to Support increased production cost5. Emily's welcome fund has been set up in memory ofour former Learning and Participatlon manager, Emlly Hutchinson, to supporr access to our Creatlve Engagement work. The designated fund for fixed assets represents the net book value of unrestricted tangible fixed assets, The expenditure frorn the fund represents depreciation char8es, and transfers into the fund will be made for future addition5 to the charity's fixed assets. 23
SHEFFIELD THEATRES CRUC18LE TRUST NOTES ON ACCOUNTS (contlnued> PERIOD ENDED 31 MARCH 2025 10 ANALYSIS OF NET ASSETS BETWEEN FUNDS Unrestrlcted Funds 31 July 2024 Restrl¢ted Funds 31 Julv 2024 Total 31Jufy 2OZ4 Tangible fixed assets Current assets 256,180 1,653.187 11,017.0271 892.340 5,243,014 S,499.194 1,653,187 11,017,027) 6,135,354 Current Ilabilities 5,243,014 Unrestrlcted Funds 31 March 2025 Re5trlcted Funds 31 Marth 2025 Total 31 M•r¢h 2025 Tangible flxed assets Current assets Current Ilabilltles 261.913 1,809,095 1968,7421 1,102,266 5,165,148 5,427,061 1,809,095 1968,7421 6,267,414 5.165,148 24
SHEFFIELD THEATRES CRUCIBLE TRUST NOTES ON ACCOUNTS (continued) PERIOD ENDED 31 MARCH 2025 11 FIXED ASSETS TANGIBLE Land and Buildings Long Leasehold Flxlures and Flttlngs Plant and Equlpment Total Cost At l August 2024 Addltlons DIspos31s At 31 March 2025 6,614.530 2.IXI3,908 135,878 5,924.318 4,598 14,542.756 140,476 6,614,530 2,139,786 5,928,916 14.683,232 De reclatlon At I Au8U5t 2024 Charge for the period Disposals At 31 March 2025 1,885,635 69,750 1,548,911 74,292 5,609,016 68,567 9,043.562 212,609 1,955,385 1,623,203 5,677,583 9,2S6,171 Net Book Valu At 31 March 2025 4.659,145 516,583 251,333 5,427,061 At l August 2024 4.728,895 454,997 315,302 S,499,194 12 DE8TORS- DUE WITHIN ONE YEAR 31 March 2025 31 Julv 2024 Trade debtors Other debtors Amounts owed frorn parent company Amounts owed by fellow subsidiaries Prepayments and accrued income 36,601 21,052 173,321 269.486 215 611,52S 117,184 923,082 157.357 463,659 13 CASH AT BANK AND IN HANO 31 March 2025 31 Julv 2024 Cash in hand Cash at bank 2.701 1.342,735 1,345,436 2,433 727,672 730,105 2S
SHEFFIELD THEATRES CRUCIBLE TRUST NOTES ON ACCOUNTS Icontlnuedl PERIOD ENDED 31 MARCH 2025 14 CREDITORS- DUE WITHIN ONE YEAR 31 March 2025 31 Julv 2024 Trade creditors Other taxation and soclal securily Amounts owed to fellow subsidiaries Amount owed to parent company Accruals and deferred income 145.443 124,995 1.193 181,241 3Lh),000 535,786 1,017,027 697,111 968,742 15 ANALYS15 OF CHANGES IN NET FUNDS At At l August 2024 Cash Flows 31 March 2015 Cash balanc 730.105 615,331 1,345.436 16 FINANCIAL COMMITMENTS 31 March 2025 31 July 2024 L•nd and bulldlngs Within one year Between 2 and 5 years Over five years 43,250 173.000 76S,237 59,250 173,000 794,071 17 ULTIMATE CONTROLLING PARTY The ultlmate controlling party is Sheffiekl Theatres Trust, a registered charity. 18 TRANSACTIONS WITH RELATED PARTIE5 In accordance with FRS 102 paragraph 33.IA the company has taken advantage of the exernption from disclosing transactlons with its parent company ènd its fellow wholly owned subsidiary companies. Lease payments of £10,667 were made to the Sheffield City Council for the Cruclble Theatre. Sheffleld City Council have representatwes on the board of trustee5 of Sheffield Theatre5 Trust. 28