Company registration number 05541255 Charity registration number 1121007 UK Storyhouse Limited Trustees, Report and Consolidated Financial Statements For the Year Ended 31 March 2025 J i ()l!'{lJ()lJ J= CHAMPION ACCOUNTANTS LLP Statutory Auditors 2nd Floor Refuge House 33-37 Watergate Row CHESTER CH12LE
UK Storyhouse Limited Contents of the Consolidated Financial Ststements For the Year Ended 31 March 2025 Contents Page Trustees Reference and Adminislrative Details Report of Ihe Trustees (including Directors, Report) Ind8pendenl Auditor's Report 9-11 Consolidated Statem8nl of Financial Activities {induding Income and Expenditure Account) 12 Consolidaled and Charity Balan Sheet 13 Consolidaled Cash Flow Stat8ment 14 Notes lo Ihe Consolidaled Financial Statements 15-27
UK Storyhouse Limited Trustees Reference and Administrative Details For the Year Ended 31 March 2025 The Trustees, who are also the Directors for the purposes of company law, present their report and the consolidated financial statements of the Chartty and its subsidiaries for the year ended 31 March 2025, which are also prepared to meet the requirements for a Directors, report and accounts for Companies Act purposes. The Trustees have adopted the provisions of the Statement of Recommended practi {SORP) °Accounting and Reporting by Charities. {FRS 102) in preparing the annual report and financial statements of the charity. Registered Charity Name UK Storyhouse Limited Charity Registration Number: 1121007 Company Registratlon Number: 05541255 Trustees (ln the period and atthe date of approval): D Watson (Chair) M Perny (Vice Chair) (appointed VC 2111112023) N M Adamu (resigned 20112124) E Boekesteijn (resigned 5112124) L A Burnett M L Dalton W A Fergus (resigned 1018125) J W Grout S M Jones V Venugopal K Lowe R D Watts A Tonkin (resigned 2011r25) R E Guest Principal and Registered Office: Storyhouse Hunter Street Chester Cheshire CH12AR The Charity's professional advisors a as follows: Auditors: Champion A¢¢ountants LLP 2nd Floor Refvge House 33-37 Watergate Row Chester CH12LE Bankers: Lloyds Bank plc 8 Foregate Street Chester CH1 1XP Natwest Bank plc 33 Eastgate Street Chester CH11LG
UK Storyhouse Limited Report of the Trustees (including Directors, Report) For the Year Ended 31 March 2025 The Trustees present their annual report together with the audited financial ststements of the Group and Charity for 1 April 2024 - 31 March 2025. The annual report serves the purposes of both a Truslees, report and a directors, report under Gompany law. The Trustees confim) that the annual report and financial statements of the charitable company comply with the current slalutory requirements, Ihe requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102} {effective 1 January 2019). Structure Governance and Mana ement Governlng Document The Charity is a company limited by guarantee whose constitution is set out in a deed of trust, as defined by the Companies Act 2006. Board of Truste&s The Board al 31 March 2025 is made up of 11 non*xecutive unpaid Trustees, chaired by David Walson. Board m8mbership includes t0 dedicated position5 for Trustees under the age of 25. one of which was vacant from Dec 2024. The Board of Truste&s are responsible for ensuring Storyhouse's mission and aims a achieved.11 is responsible for forward strategy and direction. approving the annual business plan and budget, and monitoring perfonnance and delivery, sUPPOrting the Chief Executive and her team. Board Trustees have a diverse range of skills. experience and backgrounds, bringing a range of perspects.ves to discussions and strategic d8asions. Recruitment and appointment of new Trustees New appointments to the Board are advertised and ratified by the full Board. This process is led by a Nominations Committee. New Trustees have a full induclion process and take part in the year-round trustee training programme. Trustees are appointed on a fixed term basis and are subject to a maximum six-year lerm. Declslon Making The Board retains full control and approves all major strategic decisions and has ultimate responsibility for the company, conduct and financial stability, Leadership and management of the Charity is delegated to the Chief Executive. The Chief Executive has support from five Directors (Creative. Development, Marketing, Finance and Operalions) together comprising the organisation's Senior Leadership Team. The Board meets four times a year and is supported by a number ofcommittees and advisory groups, which include.. Committees.. Finan & Resou5 Risk Access & Inclusion Remuneration Nominations Artistic Impact & Evaluation Developmenl This strLtclure provides the Board with the assurance that detailed allention and scrutiny are being afforded to important strategic issues. Each oflhe committees and advisory groups are governed by terms ofreferen. which sel out key decisions which must be approved by the Board and those delegated lo the standing committees. The governan structure and the terms of reference of committees are reviewed annually to ensure compliance with the Charity's goveming document and to make sure they remain fit for purpose.
UK Storyhouse Limited Report of the Trustees (including Directors. Report) For the Year Ended 31 March 2025 The affairs of the company are subject to exlernal scrutiny by Arts Council England. who are entitled to attend Board meetings as observers. The company has a substsntial contracl for seNices with Cheshire Wesl & Chesler Council. who undertake an annual review and are also invited to attend Board meetings as observers. Storyhouse runs two wholly owned commerual trading subsidiaries, Storyhouse Production Company Limited and Storyhouse Catering Company Limited. Ob-ectives and Activities The objects of the Charity are to promote the presentation and development of the performing arts in Chester and the surrounding area. In setting objectives and planning for activities. the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefft. including the guidance 'Public benefit.. running a charity (PB2)'. Storyhouse is an independent arts ntre and ¢alIve hub. Every pound we make goes back into Storyhouse, to keep our space free and open, and Ghange lives in our communities. Our home incorporates Iwo theat$, a cinema. a library and a restaurant. During 2024125, the business plan was developed from a one year to a four year plan, covering the period up to March 2028. It has provided renewed focus for the organisation at a time of leadership change and financial challenge, communicating our ambition and setting out a clear timescale for returning to a posttive trading position. It set out the following.. Vision: Here, culture is owned by everyone. Mission: We work every day to be a creative home for our communities. Values.. Listen closely- true empathy takes efft)rt. So we work hard to understand different points of view. Look around - opportunities can be spotted by anyone. anywhere, at anytime. So we always have our eyes, ears and minds wide open. Speak up- not everyone's stories have been told. So we use our voices to amplfy those that haven't been heard. Stand up - debate and discussion make things better for us all. So we don't shy away from a challenge. Reach out - diverse perspectives solve the hardest problems and make the best decisions. So we seek them out, and invite them in. Strategic objectives: Create outstanding artistic opportunities Tell everyone Storyhouse is a charity Showwhy we're vital Make people feel welcome here Unlock the full Storyhouse offer The Business Plan is used by the Leadership Team to infom and steer progress against our mission and objectives. The Board of Trustees monitors delivery of the Business Plan at its quartedy meetings.
UK Storyhouse Limited Report of the Trustees (including Directors. Report) For the Year Ended 31 March 2025 Achievements and Performance Last year we welcomed more than 912,000 people through our doors. Storyhouse conlinues to play an essential role as a free, warm, open space in the heart ofthe city- We know from feedbackthat customers from many different communities communities of place, interest, identity, need and action - feel safe here. From that position. we are able to build meaningful engagement with a range of creative and cultural activities, including with communities that have traditionally been under-served by the cultural sector. Our engagement continues to grow, with a 140kn increase in attendances at participatory activities in 2024125 compared to the previous year. 187,913 tickets sold for performances, films and activities 69,560 attendances at participatory activities. including 52,284 for young people's activities 67 % of our engagement activities were free to access 2,202 hours of community-led aGtivily 161 ,253 books borrowed Highlights from 2024125 Our in-house productions. Storyhouse Originals, included a major production of Kinky Boots; a version of The Tempest which toured to schools before returning lo Storyhouse., and our Christmas show, Slogping Beauty. We also made three new shows for the GrosvenoT Park Open Air Theatre: The Importance of Boing Eamest, Gangs of New York and, and for younger audiences, The Wizard of Oz, which attracted more than 21.000 people. For the first time, we partnered with Scenario Two to ¢o-produce The Parent Agency, a new family musical written by David Baddiel, whi¢h premi8r8d at Storyhouse. We continued lo complement these productions with a wide range of touring work. across both the main theatre and Garret studio. This included theatre. musicals. music. dance and comedy as well as an extensive programme of work for families, with more than 77.000 tickets sold. Our support for Fallen Angels Dance Theatre as an Associate Company saw the Continuation of the work with people in recovery from addiction. Throughout the year we work with our communilies to Coacurate a series of festivals. working with steering groups of people with lived experience of the issues explored. to create events ranging from days to two weeks in length. Our 2024125 festivals included Storyhouse Queer for LGBTQIA+ communities, Sloryhouse Women, Kaleidoscope Festival celebrating and platforming the creative talents of the learning-disabled community, Sloryhouse Childless and storyhouse Elders. These festivals engaged nearly 4,000 people as participants, audience members, speakers and artists. We also run Chester Literature Festival, which featured authors including George the Poet, Simon Reeve and Lucy Worsley, and Wayword, designed to inspire a love of stories and reading in children aged 3-11. In addition to our co-curaled festivals, Storyhouse also supports local communilies to stage their own events and aclivilies. In 2024125 52 comrnunity groups accessed free space at Sloryhouse, amounting to more than 2,200 hours of activity, ranging from domestic abuse support services. bereavement support, chatter and natter, LGBTQ+ reading group5, board game groups and much more. Our film programme Continued to offer a wider range of worfd cinema. Brilish independent film. documentary. classics, new releases, family features. ouldoor screenings. curated seasons and festsvals. alongside some live broadcast screenings, attracting aUdIenS of more than 32.000. Young Storyhouse encompasses our many programmes for young people. which delivered more Ihan 780 sessions across the year with attendance of 9,800+ In 2024125 these included- Youth Theatre {8 different groups, splil up by age) for young people aged 5-17 Storyhouse Young Company (SYC) for young peop5e aged 18-25 interested in a career in performing Young Leaders for young people who are refeired to us by partner organisations to join a sustained creative work experiènce programme The Agency, a creative entrepreneurship programme for young people aged 15-25 from Lache to develop projects for their community Young Programmers, offering cinema and feslival take-over opportunities for aspiring producers and programmers aged 14-25 Young Readers. for graduates of Ihe Young Leaders programme to discuss books and themes
UK Storyhouse Limited Report of the Trustees (including Directors, Report) For the Year Ended 31 March 2025 Holiday Activty Fund (HAF) winter. spring and summer clubs for children in reIpt of free school meals, often including a vistt to a Storyhouse Original production Work Experience Week, for 16 young people in years 10-13 to gain a tsste of working at Storyhouse Our library continued to attract international recogntlion. due to its integration with the rest of the building alongside the longest opening hours of any UK public library. Activities included twice-weekly Rhymetime sessions for early years, which saw more than 11,000 attendans, storytelling. craft and digttsl support sessions. Financial Position For the financial year ended 31 March 2025, Storyhouse reported a surplus of £64k. This compares to a deficit of £393k In March 2024, showing a positive step forward as we move past a break even position, enabling us to start rebuilding our reserves. The budget for the year ended 31 March 2025 was a deficit of £265K. The tumaround from deficit to surplus was mainly due to favourable performance against tsrget for box office income, particularfy for touring shows and cost control across the board. Raising Funds Totsl income for March 2025 was £7.555m, an increase of £454k compared to the prior year (£7.101 m in March 2024). Further detsil is provided in notes >7 of the acunts. There were increases in most areas offvndraising- Membership and private giving at £318k {£234k in 2024),. Sponsorship income al £95k {£80k in 2024); and Twsts and Foundations at £234k (£194k in 2024). Project Funding was lower at £67k (£97k in 2024). Granls received from Arts Council England and Cheshire West and Chester Councal were £1.33m in 2025, the same as 2024. Catering Company Income from the trading subsidiary, Storyhouse Catering Company, was £3.38m (from £3.6m in March 2024). The Catering Company conlinued to operate The Kitchen at Storyhouse, open daily from 8am to 11pm, serving a diverse range of visitors, including students. community groups. homeworkers. and library users. With a casual dining menu wilh flavours inspired by Levantine cuisine and a comprehensive coffee shop offer, it provides an accessible and inviting space that complements our wide range of activtties. The Kitchen actively supports local suppliers such as Kookaburra Bakery. Peckforton Farm Dairy, David Joinson, and Lost Bam Coffee. The overall contribution from the Catering Company was a surplus of £944k (£744k in MarGh 2024). As well as this signific2nt Contribution to Storyhouse's overall VenUe, The Kitchen Creates essential employment opportunities in hospitality and food and drink. Production Company Storyhouse's own produclions. Storyhouse Originals, continue to be developed through the Storyhouse Production Company. Income for 2025 was £796k, down from £932k in March 2024 due to the timing of productions. Theatre Tax Relief increased to £290k (from £223k in March 2024), following a review of what can be claimed across the various projects. Assets Net current assets were £840k as at March 2025 (£815k in March 2024). Nel group assets were £1,180k as at March 2025 (£1,115k March 2024). Overall cash at bank and cash in hand balance was £1,638k (£1,650k in March 2024).
UK Storyhouse Limited Report of the Trustees (including Directors, Report) For the Year Ended 31 March 2025 Risk Mana ement and Princi al Risks The Trustees monitor performance againstthe Charity's business plan and budget and have risk management processes in place. There is a comprehensive review annually to examine major strategic, business and operational risks which the Charity faces, and the Audit & Risk committee leads on this process. A risk register is maintained and is reviewed regulady to nrni that systems have been established to mitigate and lessen these risks. The Trustees have a Risk Management Strategy which comprises: A quarterly review of the risks the Charity may fa and the likelihood of these risks occurring. Particular attention is given to major risks that would prevent the organisation from achieving its objectives. The Senior Leadership Team reports any changes in status of these risks. including any new risks and any aclions taken to the Risk Committee and the main Board. The eslablishmenl of systems and procedures to miligale those risks are identified in the reviews. Procedures designed to minimise any potential impact on the charity are implemented should Ihese risks materialise. The risk register identified that the highest risk is our reseNe levels. Reserves have previously been used to support the post Covid recovery period. which was exacerbated by high inflation and the cost of living crisis. As progre5S to dale shows, the planned turnaround to a break even pos11ion has been aGhievable in 2024125 and the organisation is committed to rebuilding its reserves back to target as the business and external environment allows. The other top risks identified are.. The organisation identified IT as a risk due to challenges around recruiting appropriate staff and ageing equipment. An external audit was undertaken lo identify priorily works. and a new IT Manager was recruited in April 2024. Significant progress against priorities has already been made and this risk will be further reduced by March 2026. Inflationary issues pressures Although Ihe rale of inflation is reducing. resources are still being stretched following the recent period of high inflation, particularly in terms of its impact on building costs and salaries and wages. 11 is anticipated that the rate of expected growth vs inflationary pressure on costs will narrow and relieve some of this pressure going forward. Dependency on income sour5 It is important that we mainlain a healthy balance across our revenue granls, eamed income and other contributed income, to avoid dependency on any single source. The Business Plan identifies areas for growlh, particularly in terms of earned income. Failure to comply with safeguarding legislation and guidance Sloryhouse has very robust safeguarding training, checks, policies and procedures in place, that are understood across the organisation. However, due to the number of adults and children at risk that we are engaging wilh, the risk of failing to comply has been noted in order to ensure it is carefully monitored. Goin Concern Your attention is drawn to the going COnM note included within the Accounting Polices notes to the Financial Statements on page 15. The reserves position of the Charity is set out below. The Board considers Ihal the Charity has adequate financial resources for ongoing operations and our business planning process. which includes financial projections, has taken into account the current economic climate. likely levels of secured income, funding and trading in the forthcoming year.
UK Storyhouse Limited Report of the Trustees (including Directors. Report) For the Year Ended 31 March 2025 The Board have reviewed and considered all relevant infomation and it has been determined that they do not create a material uncertainty that casts significant doubt upon the Charity's abilty to continue as a going concem. The Charity has a 22-year lease and service contract wtth Cheshire West and Chester Council, with a rolling three-year funding cycle agreed over that period. The original 25 year leasè granted in 2017 was extended by 10 years in 2024, demonstrating the Council's Commitrnent to Storyhouse. The financial settlement for this is now confimied until March 2028. In November 2022, Arts Council England awarded Storyhouse continued National Portfolio grant funding until 2026, which offers further finanGial stability to the Charty. In aubjmn 2024, this was extended to March 2027. The view of the Board is that the Charity will continue in operalional existence for the foreseeable fvture. With secured income and based on its business plan for the forthcoming year, the Trustees have concluded that the Charity will be in a position to continue to meet its liabilities. as they fall due, for at least e1ve months from signing these financial statements. After consideration of all factors. the accounts have therèfore been prepared on the basis that the Charity is a going ¢on¢em. Resenies Al the end of Mah 2025, total fiJnds Garried fOard are £1.18m (£1.11m in March 2024), of this £59k relales to designated funds and £86k in fijnds restricted in nature. The Board aims to maintain an appropriate level of reserves to support its work and programme of activities. The recommended reserves levels have been determined in accordance with Charity Commission's best pra¢ti guidance. The guidan highlights that the setting of a reserves policy is not a task which can be taken in isolation, but is a producl of a charity's strategic planning, budgeting and risk management process. The reserves policy should protect the continuity of the Charity's work and provide appropriate ¢over against risks to which it is exposed. The Reserves Policy takes into account the following risk factors.. Risks associaled with income, including fvnding and sponsorship, being different or lower from that budgeted. Risks associaled with expenditure, being different or higher from that budgeted. Planned aclivity level having identtfied potential threats and opportunities. The charity's contractual commitments. The potential costs associated with having to wind down the organisation in an emergency siluation. Overall, the Board believes that the detemined target level of £927k of available 'free' reseNes (defined as unrestricted funds nol already invesled in fixed assets, held as designated funds or irrev0bIY Committed for olher purposes) to be appropriate based on their review. The Board considers the total requirement of reserves (equivalent to just under 3 months total expenditure) provides sufFiuenl flexibility in the context of operational requirement and is in line with other similar charities they have benchmarked. At the end of March 2025, the balance held as unrestricted reseryes was £1.1m (£1.Om March 2024) of which £695k were regarded as free reserves (£695k March 2024). Plans for Future Periods As menlioned earlier, the Business Plan for 2024125 has been extended to cover the next three years, ending in March 2028. This revised plan will outline activities that support the vision, mission, and strategic objectives. It will also continue progress to achieve a consistent break-even position and begin rebuilding reserves by the end of this period. This approach ensures that the strategic objectives remain at the forefront while allowing for responsive changes as new opportunities or challenges emerge.
UK Storyhouse Limited Report of the Trustees {including Directors, Report) For the Year Ended 31 March 2025 Trustees Responsibilities in relation to the Financial Statements The charity trustees (who are also the directors of Storyhouse for the purposes of company law) are responsible for preparing a trustees. annual report and financial statements in accordanc£ with applicable law and United 'ngdoM Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the charity trustees to prepare financial stalements for each year. which give a true and fair view of Ihe slate of affairs of the charitable company and of the incoming resources and application of reSoUrs. including the income and expenditure, of the charitable company for that period. In preparing the financial statements, Ihe trustees are required to.. select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP.. make judgements and accounting estimates that are reasonable and pruderst- state whether applicable UK accounting standards 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 il is inappropriate to presurne that the charitable company will continue lo operate. The trustees are responsible for keeping adequale accounting records that disclose, with reasonable accuracy at any lime, the financial position of the charitable company and to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assels of Ihe charitable company, and hence for taking reasonable steps for the prevenlion and detection of fraud and other irregularities. In so far as the trustees are aware.. there is no relevant audit information. of which the charitable company's auditor is unaware., and the trustees have taken all steps that they ought to have taken to make them aware of any relevant audit information and to establish Ihal the auditor is aware of that information. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the oharitable company's website. Legislatson in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. In approving the Trustees, Annual Report we also approve the Direclorfs Report, induded therein, in our capacity as company direclors. Signed by order of the Truslees by.. D Wats Chair Date: S o&V)QS
UK Storyhouse Limited Independent Auditor's Report to the Members and Trustees of UK Storyhouse Limited For the Year Ended 31 March 2025 Opinion We have audited the finantial slatements of UK Storyhouse Limited (the 'charity') and ils subsidiaries {the 'group'l for the year ended 31 March 2025 which comprise the consolidated statement of financial activilies, the consolidated and charity balance sheet, the consolidated statement of cash flows and the notes to the financial statements. including a summary ofsignificant accounting policies. The financial reporting framework that has been app5ied in their preparation is applicable law and United KingdomAccounting Stsndards. including Financial Reporting Standard 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepied Accounting Practice). In our opinion. the financial statements- give a true and fair view of the state of the group's and charttable company's affairs as at 31 March 2025 and of the group's incoming resources and application of resources. for the year then ènded", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Pra¢t(¢e; and have been prepared in accordan¢e with the requirements of the Companies Act 2006. Bas for opinion We conducted our audit in accordan with Intemalional Stsndards on Auditing (UK) (ISAS {UK)l and applicable law. Our responsibilities under those s12ndards are ftjrther described in the Auditols responsibilities for the audit of the accounts section of our report. We are independent of the group and the charity in accordance wilh the ethical requirements that are relevant to our audit of the accounts in the UK. induding the FRC'S Ethical Standard, and we have fulfilled our other ethical responsibilibes in accordance with these requirements. We believe that the audit evidence we have obtained is suffiaent and appropriate to provide a basis for our opinion. Conclusions relating to going concern In auditing ihe finan¢ial statements. we have concluded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have not idenlthed any material uncertainties relating to events or condltions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concem for a period of at least e1ve months from when the financial stalements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going ¢on¢em are descrlbed in the relevant sections of this report. Other infomiation The trustees are responsible for the other information. The other infomiation comprises the information includèd in the Report ofthe Trustees, otherlhan the financial ststements and our auditorfs reportthereon. Ouropinion on the financial statements does not cover the other information and, except to the extent otherwise expliGilly slaled in our report, we do not express any fom of assurance conclusion thereon. In connection with our audit of the financial ststements. our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements. we are required lo determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomiation. 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 nothing to report in this regard. Opinions on other matters prescribed by the Companies Act 2006 In our opinion, based on the work undertaken in the course of our audit-. the information given in the Report of Ihe Trustees, whith includes the directors, report and the strategic report prepared for the purposes of company law, for the financiai year for whith the financial statements are prepared is Consistent with the financial statements-, and the directors. report and the strategic report induded within the Report of the Trustees has been prepared in accordance wtlh applicable legal requirements.
UK Storyhouse Limited Independent Auditor's Report to the Members and Trustees of UK Storyhouse Limited For the Year Ended 31 March 2025 Matters on which we are required to report by exception In the light of the knowledge and understanding of the group and the charity and its environment obtained in the course of the audit. we have not identified material misstatements in the directors. report and Ihe strategic report included within the Report of the Trustees_ We have nothing to report in respecl of the following matters in relab.on to which the Companies Act 2006 requires us to report to you il, in our opinion: adequate accounting records have not been kept by the charity, or return5 adequate for our audit have not been received from branches not visited by u5., or The charily's financial statements are rÈOt in agreement with the accounting records and retums,. or certain disclosures of trustees, remuneralion specified by law are not made.. or we have not received all Ihe information and explanations we require for our audit.. or Responsibilities of trustees As explained more fully in the stalemenl of Irustees, responsibilities, the trustees, who are also the directors of the charity for the purpose of company law, are responsible for the preparation of the financial statements and for belng satisfied that they give a true and fair view. and for such internal control as the trustees determine is necessary lo enable the preparation of financial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the truslees are responsible for assessing the group's and the charity's ability to continue as a going concern, disclosing. as applicable. matters related lo going concem and using the going conrn basis of accounting unless the Iruslees either intend to liquidate the group or the charitable company or to cease operalions. or have no realistic alternative but lo do so. Auditor's responslbllities for the audit ol the financial statements Our objectives are lo obtain reasonable assurance about whelher the financial slalements as a whole are free frorn material misstatement, whether due lo fraud or error, and lo issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance bul is not a guarantee that an audit conducted in accordance with ISAS (UK) will always detect a material misstatement when il exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financi21 statements. Irregularities, including fraud, are instances of non-¢ompliance with laws and regulations. We design procedures in line with our respon5ibililies, outlined above, to delect material misstatemenls in respecl of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities. including fraud, is detailed below.. Extent to which the audit is constdered capable of detecting Irregularities, including fraud The responsibility for Ihe pr8venlion and detection of irregularities, including fraud, lies with the tnjstees and with those charged with governance. The objectives of our audit in respect of irregularities and fraud are to assess the risk of material misslalemenl of the financial statements due lo fraud, to obtain sufficient, appropriate audit evidence regarding the assessed risks and to respond appropriately to fraud or suspected fraud identified during the audit. Audit procedures We determine significant applicable law5 and regulations Ihrough discussion with those charged wilh governance and our own knowledge of Ihe industry and design audit procedures to help identify instances of non-compliance with those laws and regulations that may have a malerial effecl on the financial statements. We consider the applicable laws and regulations to be the financial reporting framework (FRS 102 and Ihe Companies Act 2006), Charity Law, the relevanl lax regulations in the UK. employment law and the Health and Safety at Work Act 1974 and Safeguarding legislation. 10-
UK Storyhouse Limited Independent Auditor's Report to the Members and Trustees of UK Storyhouse Limited For the Year Ended 31 March 2025 We consider the conlrol environment and the procedures in place to address identified risks, including management override. non-compliance wtth laws and regulalions and to prevent and detect fraud or irregularity. Our procedures are designed to provide reasonable assurance that the financial statements are free from material misststemenl or error and include= enquiries ofmanagement and ofstaff in key compliance functions,. review of reportsfrom regulators., review of minutes of meetings of those charged with govemance., review and testing of manual joumals, relevant nominals and significant transactions outside the normal course of business- review of financial slatement disclosures and testing to supporting documentation: perfonnance of analytical procedures. We are not responsible for preventing non-compliance and due to the inherent limitations of an audit, as described above, the audit cannot be relied upon to detect all instances of non-complian with laws and regulations. A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at.. htt ..1.frc.0r -uklauditorsr onsibililies . This description fomis part of our auditorfs report. Use of our report This report is made solely to the charitable companWs members, as a body, in accordan with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might stste to the charitable company's members those matters we are required to state to them in an auditors, 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 opinions we have formed. Susan Harris MA ACA (Senior Statutory Auditor) for and on behalf of Champion Accountants LLP Chartered Accountants Statutory Auditor 2nd Floor Reftjge House 33-37 Watergate Row Chester CH12LE 11
UK Storyhouse Limited Consolidated Statement of Financial Activities (Including Income and Expenditure Account) For the Year Ended 31 March 2025 2025 Totsl Funds 2024 Unrestricted Restricted Funds Funds Totsl Funds Notss Income and 8ndowmentsfrom: Donations and legacies Charitsble activities 1,855,803 189,191 2,044,994 1,936,102 1,048,598 1,048,598 4,171,787 406,057 0th8r trading activities Other 4,171.787 289.581 4,536,112 289.581 222,899 Total income and endowments 7.365,769 189,191 7,554.960 7,101,169 Expénditure on: Raising funds Charitsble activllles 3,517,844 3,750,218 3,517,844 4,015,081 3,478,737 222,613 3,972,831 Totsl expèndlture 7,268,062 222,613 7,490,675 7,493,818 Net incomel{expenditure) 97,707 {33,422) 64.285 1392,649) Reconciliation of funds - Total funds brought forward 995.768 119,672 1,115,440 1,508,089 . Total funds carried forward 23 1,093,475 86,250 1,179,725 1,115,440 The StalemÈnt of Financial Activities includes all gains and losses recognised during the year. All Income and Expenditure derive from continuing activities. The notes on pages 15 - 27 form part of these financial statements 12-
UK Storyhouse Limited Consolidated and Charity Balance Sheet For the Year Ended 31 March 2025 Group 2025 Charity 2025 2024 2024 Notes Fixed assets Tangible assets InStMentS 14 15 339,214 300,506 339,214 300,506 339,214 300.506 339.216 300,508 Current assets Stocks Debtors Cash at bank and in hand 16 17 30.616 1,047.300 1,638.162 24,788 936.345 1,650,907 469,757 1,625,447 268,461 1,618,040 2,716.078 2,612,039 2,095,204 1,884,502 Liabilities Amounts falling due wthin one year 18 (1,875,566) (1,797,105) <1,254,696) (1,069,568) Net current assets 840,512 814.935 840,508 814,933 Net assets 1,179,725 1,115,441 1,179,724 1,115,441 The funds of the charity. Restricted income fjjnds Unrestricted fijnds: - Generdl ftjnd Deslgnated fvnd 20 86,250 119,672 86,250 119,672 21 1,034.104 59,371 995,768 1,034,103 59,371 995,767 Total funds 23 1,179,725 1,115,440 1,179,724 1,115,439 The consolidated financial statements were approved and authorised for issue by the Trustees on and wèr8 signed on their behatf by.. Ll Company Number: 05541255 The notes on pages 15- 27 form part of these financial ststements 13
UK Storyhouse Limited Consolidated Cash Flow Statement For the Year Ended 31 March 2025 Note 2025 2024 Net Cashflow from operating activities Tax recei*d 25 (164,9511 289,581 {607, 8911 222,899 Cashflow from investing a¢tlvities Payments to acquire tangible fixed assets 14 (137,374) (205,393) Nel Cashflow from investing activities Net increase In cash and cash equivalents (137,374) 112,7451 (205,393) (590,385) Cash and cash equivalents at beginning of year 1,650,907 2,241,292 Cash and cash eqUilent$ at the end ofthe year 1,638,163 1,650,907 Cash and cash equivalents consist of: Cash al bank and in hand Short tem deposits 1,638,162 1,650,907 Cash and cash eqUilent at the end of the year 1,638,162 1,650,907 The notes on pages 15 - 27 form part of these financial statements -14-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 Accounting Policies General Information The chanty is a private company limiled by guarantee, registered in England and Wales. The address of the registered office is Storyhouse. Hunler Streel, Chester. Cheshire CH12AR. Accounting convention The financial statements have been prepared in accordan with Accounting and Reporting by Charities.. ststement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS102> effective 1 January 2019 - Charities SORP {FRS 102). Ihe Financial Reporting Standard applicable in thè UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Assets and liabilities are initially recognised at historical cost or transaction value unless othemise stated in the relevant accounting policy note below. The financial statements are prepared in sterling. which is the functional currency of the charity, rounded to the nearest pound. UK Storyhouse Limited is a public benefit entity as defined by FRS 102. Basis of consolidation The Consolidated Statement of Financial Activities, the Consolidated Balance Sheet and the Consolidated Statement of Cash Flows indude the financial stalements of the company and its subsidiaries, Storyhouse Catering Company Limited and Storyhouse Production Company Limited, made up to 31 March 2024. There are uniform po5i¢ies across the group and intra group transactions are eliminated on consolidation. Consolidation is on a line by line basis. A separate Statement of Financial Activities and Income and Expenditure Accounl for the charity has not been presented becausethe charty has taken advantage ofthe exemption afforded by Section 408 of the Companies Act 2006. Going Concern As part of their going concern assessment, the trustees have Considered the events and conditions that the Charity may face, in¢luding the continued impa¢t of the cost-of-living Grisis and the financial uncertainty in the UK economy. In light of the economic uncertainty, the management team regularfy assess what impacts events and conditions might have on its operations and forecasl cash flows, ensuring it has sufficient liquidity to continue lo m8&1 its obligalions as they fall due. The Charity has a 22-year lease and setvice Conlradwith Cheshire West and Chester Council, with a rolling three- year funding cycle which is confimied until March 2028. A National Portfolio grant from Arts Council England has also been confirTned unlil March 2027. Financial and other risks are addressed through regular monitoring by the Finance Committee, Risk Committee and fvll board, with the overall budget reIving a full re-appraisal on a regular basis. The business planning process includes financial projections taking into account the current economic dimate and likely levels of secured income, funding and trading in the forthcoming year. After reporting a surplus for 202425, the current budget anticipates a defiat for the financial year 2025-26, largely due lo the Govemment's recent increases in minimum wage and employefs national insurance. Existing reserves will be used to fund the deficit in the short term. The medium-tem financial plan projects the Charity returning to a surplus. The view of the Trustees is that, whilst they acknowledge the significant disruption that the wst-of-living Grisis, changes in minimum wage and nalional insurance have brought and may continue to bring, the Charity will continue in operational existence for the foreseeable future. The trusteès have concluded the Charity will be able to continue to meet its liabilities as they fall due for at least e1ve months from signing these financial statements. In reaGhing their ¢onclusion, the trustees have reviewed and considered relevant infomiation, induding Ihe annual budget and future cash flows. After consideration of all factors. the trustees ¢ontinue to adopt the going concem basis in preparing the financial slatements. The funds of the charity General funds are unrestrided fijnds 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. Restricted funds are funds which are used in accordance with speclfic restrictions imposed by the donors or which have been raised by the Charity for particular purposes. The cost of raising and administering su¢h fiJnds are 15-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 charged against these funds. The aim and use of each restricted fund is set out in the notes to the Financial Statements. Incoming resources All income is recognised in the Statement of Financial Activities once the charity has enlitlemenl to the funds, it is probable that the incorne will be received and the amount can be measured reliably. Grant income that is revenue in nature is recognised in full in the year of entitlement where the performance conditions have been mel. The point of entitlement to ticket income is regarded as the completion of the licketed performance. As such, lickel income is recognised upon completion of the performan that the ticket has been issued for. Amounts received for future perfomiances are included in current liabilities. The other SoUrS of income are received at the point of delivery of the goods or services and are therefore recognised upon receipt. Resources expended All expenditure is accounted for on an accruals basis and has been classified under headings that aggregale all costs related to the category. Costs of generating voluntary income are those incurred in seeking voluntary contributions and do nol include costs of disseminating information in support of the charitable activities. Support costs include central functions and have been allocated to activity Gost ¢ategoTies on a basis ¢onsistent with the use of resources. Tanglble fixed assets Depreciation is calculated so as to write off the cost of an assel over the useful economic life of that assel as follows.. Fixtures and fittings Motor vehicles Computer equipment 200A on cosl and 100A on cost 259A on cosl 25°/0 on cosl Where il has been identified that the recoverable amount of a fixed assel is below its net book value the asset is written down to its recoverable amount and the impaimienl loss is recognised in the Statement of Financial Activities. Stocks Stocks consist of purchased goods for resale and consumables. Stocks are valued at the lower of cost or net realisable value. Debtors Debtors receivable within one year are recognised at transaction pri. Any losses arising from impairment are recognised in expenditure. Cash at bank and in hand Cash at bank and in hand includes cash held on deposit with a short maturtty of three months or less. Creditors and provisions Creditors and provisions are nomially recognised at their settlement amount after allowing for any trade discounts due. Deferred income includes.. Income received for events and perfomances taking place after the balance sheet date 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 fixed asset investments which are subsequently measured al fair value where this can be reliably measured. Operating leases Rentals paid under operating leases are charged to the income and expenditure on a slraight-line basis over Ihe period of the lease. 16-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 Taxation As a registered charity, the company benefits from rates relief and is generally exempt from Income Tax, Corporation Tax and Capital Gains Tax, but not Value Added Tax. Volunteers The value of seNi¢es provided by volunteers is not incorporated into these financial statements. Financial perforniance of the charity The consolidated statement of finanaal activities indudes the results of the tharity's wholly owned subsidiaries, Storyhouse Catering Company Limtted and Storyhouse Production Company Limited. The summary financial performance of the charity alone is:_ 31 March 2025 31 March 2024 Income Theat Tax Relief Gift aid from Storyhouse Catering Company knmited Gift aid from Storyhouse Production Company Limited 2,804,011 289,581 943,524 2,119,259 222,899 743,929 4.037,116 3,086,088 Expenditure on charitable actimties 3,972.831 3 478 737 Surplusl(Deficit) for thè year 392,649 Total funds brought fonKard 1 115439 1508 088 Totsl funds carried fOrard 1179,724 1,115,439 Represented by: Unrestricted ndS Restricted fvnds 1,093,474 86,250 995,767 119,672 1,179.724 1.115,439 17-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 Income from donations and legacies Total Funds 2025 Totsl Funds 2024 Unrestricted Reicted Funds Funds Fundlng Members & prite Gimng Sponsorship Income Trusts and Foundations Project Funding 317,657 95,062 45.218 67.241 317,657 95,062 234,409 67,241 234,295 79.700 194,482 97,000 189.191 Grants recelvable Arts Council England Cheshire West and Chester CounGiI G0Mment Grants 228,015 1,102,610 228,015 1.102,610 228,015 1,102,610 1,855,803 189,191 2,044,994 1,936,102 Of the income from donations and legacies weid in 2025. £1.855,803 <2024.. £1,727,681) was unrestricted and £189,191 (2024: £208,421) was restricted. Incoming resources from charitable actlvities Unrestrictèd Funds 2025 Totsl Funds Unrestricted Funds 2024 2025 Library operation Engagement Ticketing Other income 25,359 60,560 903,074 59.605 25,359 60,560 903,074 59,605 25,876 37,355 277,283 65,543 1,048,598 1,048,598 406,057 Other trading activities Unrestricted Funds 2025 Totsl Funds Unrestrictèd Funds 2024 2025 Storyhouse Production Company Limited Storyhouse Catering Company Limited 795,949 3,375,838 795,949 3,375,838 932,552 3,603,560 4,171,787 4,171,787 4,536,112 18
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 Net income from trading activity of subsidiary companies The Gharity owned 1000A of the share capital ofstoryhouse Catering Company Limited and Storyhouse Production Company Limited at 31 March 2025 Both subsidiaries are registered in England and Wales. The principal activity of each subsidiary is detailed below together with theirtrading results forthe year. Storyhouse Catering Company Limited The principal activity of the company was that of catering, cineTna and reIving touring theatre at Storyhouse, Chester. The company registration number is 10709991. 31 March 2025 31 March 2024 Turn0r Cost of sales Administration expenses 3,375,838 3,603,560 2,393,203 2,798,163 39,111 61,467 (LossyProfit before taxation and for the financial year 943,524 743,930 Amount gift aided to the charity 943,524 743,930 Retained earnings brought forward and carried forward Current assets 1,064,458 1,064,457 684,901 684,900 Current liabilities Net Current assets Called up share capital Retained eamings 19-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 Storyhouse Production Company Limited The principal activity of the company was that of theatre company production al Storyhouse, Chester. The company registration number is 10709994. 31 March 2025 31 March 2024 TUm0r Cost of sales Administration expenses 795.949 1,087,280 {1,7501 932,552 1,133,709 21,742 Loss before tsxation 289,581 222,899 cooration tax ¢dit fjheatre tax reliefj 289,581 222,899 Profit for the financial year Current assets Current liabilities 524,958 524,957 670,652 670,651 Net current assets Called up share capital Retained eamings Other income Unrestricted Totsl Funds Funds 2025 Unrestricted Funds 2024 2025 Theatre tax relief 289,581 289,581 222,899 289,581 289,581 222,899 -20-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 Costs of raising funds Unrestricted Funds Total Funds 2025 Total Funds 2024 Storyhouse Production Company Limited Storyhouse Catering Company Limited 1,085,530 2,432,314 1,085,530 2,432.314 1,155,451 2,859,630 3,517.844 3,517,844 4,015,081 Costs of Charitable Activities by Activity Type Direct Support Govemance Costs Total Funds Total Funds 2025 2024 Charitable actiiites Management Finance Building 0rheadS 2,739.674 2,739,674 951,767 119,165 162,225 2,304,082 911,081 116,931 146,643 951,767 103,565 162,225 15.600 2,739,674 1,217,557 15.600 3,972,831 3,478,737 Costs of ¢haritablÈ activities We £3,750.218 (2024.. £3,478,737) of which £3,972,831 (2024.. £3,321.8661 was unrestricted and £222,613 (2024: £156,871) was restricted. 10 Net incomel(expendlture) for the year 2025 2024 This is stated after charging: Depreciation Auditors remuneration Audit of the financial statements - Accountancy serKi¢es Operdting lease cosls.. Land and buildings Motor *hicle Copier 98,666 91,745 15,600 15,000 60,292 4,558 2,692 24,792 4,558 2,692 11 Trustees, Remuneration None of the Trustees received any remunerats.on or benefits in kind in respect of their duties as a trustee. Expenses were paid to Trustees during the year in amount of £NIL (2024: £961)_ -21
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 12 Analysis of stsff costs and the cost of key management personnel Total staff costs were as follows Group 2025 Charity 2025 Group 2024 Charlty 2024 Wages and salaries Social security costs Pension costs 2,583,601 214,460 87.976 1,994,941 192,178 75,171 2,352,554 201,588 84,414 1,486,165 176,954 72,422 2.886,037 2,262,290 2,638,556 1,735,541 Key management comprises the execulive team. The total employee benefits of the key management personnel were £269,118 (2024.. £320,631). Particulars of employees The average number of staff employed during the year was 145, analysed by function as follows.. 2025 Number 2024 Number Project Head office Kitchen 12 22 12 19 Marketing Production Cinema Touring Trading Casual slaff 14 85 87 147 145 During the year the number of employees tho eamed more than £60,000 was as follows.. 2025 Numbar 2024 Number £60.000 - £70,000 £70,000 - £80,000 £80,000 - £90,000 £90,000 - £100,000 There were no disclosable terminats.on payments made in the current or prior year. The charity conlributes to a defined wntTibution pension scheme for it5 eTnployees and an equity pension scheme for self employed actors. The sum of £87,976 (2024.. £84.414} represents the pension cost to the charity fDr the period. The full cost has been charged againsl unrestricted funds. -22-
UK Storyhouse Limited Notes to the Consolidated Financial Ststements For the Year Ended 31 March 2025 14 Tangible Fixed Assets Group and Charity Fixtures and fittings Motor Computer vehicles Equipment Total Cost At 1 April 2024 Additions Disposals 1,110,241 47,947 14,328 239,255 89,427 (84,780) 1,363,824 137,374 {84,780) At 31 March 2025 1,158.188 14.328 243,902 1,416,418 Depreciation At 1 April 2024 Charge for year Eliminated on disposal 846,265 81,204 14,328 202,725 17,462 (84,780) 1,063,318 98,666 (84,780) At 31 March 2025 927,469 14,328 135,407 1,077,204 Net Book Value At 31 March 2025 230,719 108,495 339,214 At 31 March 2024 263,976 36,530 300,506 15 Investments Group Charlty 2025 2025 2024 2024 Invèstments in subsidiaries 16 Stocks Group Charity 2025 2025 2024 2024 Stock 30.618 24,788 17 Debtors: Amounts falling due within one year Group 2025 Charity 2025 2024 2024 Amounts owed by group undertakings Income tax reco*rdble Trade debtors Other debtors Prepayments and accNed income 16,312 658,828 64,463 96,649 227,360 550,562 73,385 146,660 165.738 189,185 40,533 96,649 143,390 56,234 146,660 49,256 1.047,300 936.345 469,757 268,461 -23-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 18 Liabilities: Amounts falling due within one year Group 2025 Charlty 2025 2024 2024 Trade creditors Amounts owed to group undertakings PAYE and Social Security VAT Other creditors Accwals and deferred income 113.977 211,477 gQ,960 481,761 49,827 21,346 227,385 383,417 186,690 49.827 14.651 235,359 1,461,752 49,253 73,026 148,427 1,314,922 49,253 73,026 140,452 62Q,147 1,875.566 1,797.105 1,254,696 1,069,568 Deferred Income Defeed income at 1 April 2024 Utilised in year Recei in year Deferred income at 31 March 2025 1.080,336 {1.080,336) 1,117,941 1.117,941 19 Operatlng Lease Commitments Total future minimum lease payments under nOn-¢anlIable operating leases are as follows.. 2025 2024 Within one year Between one and fike years 70,947 101.769 70,892 178,794 172.716 249,686 20 Restricted Funds Group and Charity Balance at 1 April Incoming 2024 Resources Balance at 31 March 2025 Outgoing ResourGes Youth Projects Community FestiKBI Funding 119,672 189,191 222,613 86,250 119,672 189,191 222,613 86,250 All restricted funds are included in the Charity aGGounts -24-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 Group and Charity Balance at 1 April Incoming 2023 Resources Balance at 31 March 2024 Outgoing Resources Youth projects Festikal fijnding 68,122 193,221 15,200 141.671 15,200 119,672 68,122 208,421 156,871 119,672 21 Unrestricted Funds - General Group General Funds Charfty Gen8ral Funds As at 1 April 2024 Incoming resources Outgoing resources Transfer to designated funds 995,768 7.306,398 17,268.062) 995,767 3,788,554 (3.750,218) As at 31 March 2025 1,034.104 1,034,103 Group General Funds Charlty General Funds As at 1 April 2023 Incoming resources Outgoing resources Transfer to designated fvnds 1,439,968 6,892.748 (7,336,947) 1,255,023 2,877,667 (3,136,923) As at 31 March 2024 995.768 995,767 22 Unrestricted Funds - Designated Group Designated Funds Cha rity Designated Funds As at 1 April 2024 Incoming resources Outgoing resources 59,371 59,371 As at 31 March 2025 59,371 59,371 -25-
UK Storyhouse Limited Notes to the Consolidated Financial Ststements For the Year Ended 31 March 2025 Group Designated Funds Charity Designated Funds As at 1 April 2023 Incoming resources Outgoing resources 184.943 184,943 {184,943) (184,9431 As at 31 March 2024 DLJring the year. the Injslees designaled £59,371 from unrestricted funds for capital projects comprising the ¢on5truction of a new bar in the main auditorium and the extension of the solar panel array. Of this, £49,371 was committed expenditure as at 31 March 2025. 23 Analysis of Group Net Assets Between Funds Tota I 31 March 2025 Tangible Net Current Fixed Assets Assets Restricted Funds 86,250 86,250 Unre&ricted Funds General Funds 339,214 694,890 1,034,104 Designated Funds 59,371 59,371 Total Funds 339,214 840,511 1,179,725 Totsl 31 March 2024 Tanglble Net Current Fixed Assets Assets Restricted Funds 119,672 119,672 Unrestrlcted Funds General Funds Designated Funds 300,506 695,263 995,768 Total Funds 300.506 814,935 1,115,440 24 Capital Commitments As at 31 March 2025, the charity had capital comrnitmenls of £49,371 (2024= £Nil). 25 Related Party Transactions Transaclions with subsidiary companies are disdosed in Note 6. -26-
UK Storyhouse Limited Notes to the Consolidated Financial Statements For the Year Ended 31 March 2025 26 Reconciliation of group net income resources to net cash inflow from group operations 2025 2024 Net incoming resources Theatre tax relief Depreciation of fixed assets Decreasel(increase) in stock {IncreaseVdecrease in debtors Increasel{decrease) in creditors 64,285 (289,581) 98,666 15,828) {110.955) 78.462 (392,6491 (222,8991 91,745 (8,4781 64,675 {140,2851 Net cash inflow from operating activities {164,951) (607.8911 27 Analysis of changes in net funds l April 2024 31 March 2025 Cash Flows Cash at bank and in hand 1,650,907 (12,745) 1,638,162 28 Guarantee The Charitable Company is limited by guarantee and has no share capital. The members, liability is restricted to £1 each in accordance with the Memorandum and Artides. 29 Fundraising standards information The charity raises charitable funds in-house and does not engage a professional fund-raiser or commercial participator to carry out these activthes. The charity has not bound itself to a voluntary scheme for regulating fund- raising and has not received any complaints with respect to ts fund-raising. The charity avoids unreasonable intrusion into a person's privacy, unreasonable persistent approaches and undue pressure on persons in connection with fund-raising. -27-