Company registration number: 6308382
Charlty registration number: 1121284
CITY OF SHEFFIELD THEATRE TRUST
IA cornpany Ilmlted by guarantee)
ANNUAL REPORT
PERIOD ENDED 31 MARCH 2025

CITY OF SHEFFIELD THEATRE TRUST
ANNUAL REPORT
PERIOD ENDED 31 MARCH 2025
CONTENTS
Pa8e
Directors, Report and Strategic Report
Statement of Trv5tees' Responsibilities
Independent Auditors, Report
Accounting Policles
io
Statement of Financlal Activities Ilncluding Income and Expenditure Account)
12
Balance Sheet
13
Slatement of Cash Flows
14
Notes to the Financial Statements
15-22

CITY OF SHEFFIELD THEATRE TRUST
DIRECTORS, REPORT FOR THE PERIOD ENDING 31 MARCH 2025
The Trustees and Directors of the charitable company present their report along with the financi31 statements of the charity for
the period endin8 31 March 2025. The financial statements have been prepared in accordance with the accountin8 policies set
out on page 10 of the financial statements and comply with the charity's Memorandum and Articles and applicable law. The
trustees have adopted Ihc provisions OF the Statement of Recommended Practice ISORPI "Accounting and Reporting by
Charities" {FRS 1021 in preparing the annual report and financial statements of the charitv.
Legal and admlnistration detalls
Off icial name of charlty:
Charity re8lstratlon number:
City ol Sheffield Theatre Trust
1121284
Company reslstratlon number:
6308382
Reglstered Office:
55 Norfolk Street
Sheffield
SI IDA
Dlrectors and Trustees;
Mr James Garnett
Ms Eleanor Lang
Mr Neil MacDonald OBE
Ms Kirsten Major
Ms Rosle Neave
Mr Arun Sin8h
Chief Executlve..
Tom Bird
Bankers:
Barclays Bank
I St Paul's Place
Norfolk Street
Sheffield $12JW
Audltors..
Hawsons Chartered Accountant5
Statutory Auditor
Pegasus House
463a GIo550p Road
Sheffield
510 2QD

CITY OF SHEFFIELD THEATRE TRUST
DIRECTORS, REPORT FOR THE PERIOD ENDING 31 MARCH 2025 (continued}
structure, Governance and Management
Governing document
City of Sheffield Theatre Trust Limited ICOSThI is a company limited by guarantee eoverned by Its Memorandum and Articles of
Association dated 21 December 2011. It is re8i5tered as a charity with the Charity Commission. Sheffleld Theatres Trust is the
sole member of the organisation and it has 6 trustees.
Objects
The primary objects of the charity specified in the Memorandum and Articles of Association are the advancement of the arts and
lo educate the public in the art of drama in particular by the production. promotion, presentation and the management of plays,
mime, ballet. dance, sin8in& music and any other artistic works at The Lyceum Theatre and such other premises of the Company
or elsewhere,
OrganlsatSon
The board of trustees, which must have no fewer than 3 members, administers the charity. The board meets twice a year and
there are sub-committees covering finance and audit, human resources ond trustee nominations which meet more regularly. A
Chiof 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. within terms of delegation approved by the trustees, for operational
matters includin8 finance, employment and artistic performance related activity.
Appolntment of trustees
The six trustees are nominaled by Sheffield Theatf es Trust.
Trustee Inductlon and tralnlng
New trustees are invited to the registered offlce of COSTT to meet wlth the Senior Management Team to brief them on thelr
le8al obli8ations under charity and company law. the content of the Memorandum and Articles of Association, the committee
and declslon-maklng processes, the business plan and recent financial performance of the charltv.
Publlc beneflt
The board of trustees have complied with the duty in section 4 of the Charifjes Act 2006 to have due re8ard to public benefit
guidance publlshed by the Commission.
The charity seeks to maxlrnise attendance and participation in its activities to ensure that audience5 are diawn from every socio-
eeonomic groups and age ranges. It does this by advertisin8 to the publlc through the media. print, social network and reaching
out to Ihe local community.
We continue to offer tickets at £5 under the Llve for 5 scheme to everyone between the age of 16 and 26.

CITY OF SHEFFIELD THEATRE TRUST
DIRECTORS, REPORT FOR THE PERIOD ENDING 31 MARCH 2025 (continued
Risk management
The Trustees are committed to the identification and mana8ement of the major stf ategic, business and operation31 risks which
the charity faces. A multi function team of managers within the organisalion is tasked with communicating with all levels of the
organisation to identify risk and regularly update a detailed risk register identifying likelihood and impact tO8ether with actions
necessary to mitl8ate the risk.
The principal risk relates to the cancellation of a guest production or failure of critical technical equipment. These are typical
risks in a presenting theatre and the trustees and senior mana8ement team are fully aware of these risk5 and monltor them
regularly.
Related parties
City of Sheffield Theatre Trust. Sheffield Theatres Crucible Trust, Sheffield Crucible Pioductions Ltd, Offstage Ltd and The
Montgomery Theatre and Arts Centre Ltd are all subsidiaries of Sheffield Theatres Trust.
Objectives and a¢tlvltle5
The main objectives for the period are the promotion and fosterin8 of artistic knowled8e and the appreclation of the arts by the
provlsion and fulure development of facilities for the education and entertainment of the public in the flelds of art, craft, music
and drama.
The strategles employed to achieve the charity's objective5 are to:
offer opportunities for a broad range of people to get Involved in arts activity exploring their own creative powers,.
provide facilitie5 for amateur and professlonal artists to develop. Groups In the cily are Biven dlscounted rates for hlre of
space and access to professional advice:
concentrate on involving young people in the arts to help encourage a culture In which dlfferent age ranges plav
complimentary part,.
celebrate the dlversity of cultures in our soclety by pro8rammin8 presentatlons by, and wlth, artists of different cultural
back8rounds,'
present a broad range of arts work.
5trate8lc Report
The Trustee5 present their Strate8lc Report for the period ended 31 March 2025.
Achlevements and Performance
sn the Lyceum, we presented a fabulous programme of the finest tourin8 work. The season opened with ovef 13.000 people
enjoying the return of SIX.
At Christmas, we continued our much-valued co-producing partnership wlth Evolution, on our pantomlme Snow Whlte. Over
52,000 people attended the production. which won the UK Pantomime's award for Best Pantomime lover 900 seats). Marc
Pickering- who starred in the show as Herman the Henchman- won Best Supporting ArtlSt.
Other highlights included: Murder on the Orient Express, Here You Come Agaln and Chitty Chltty Bong Bong. In the eight month
period, we entertained audiences of nearly 200,000.
Future Plans
The programme continues to grow and develop to ensure we can fulfil our mission and provide entertainment to everyone.
Highlights for the period ahead include our Chf Istmas pantomime. Aladdln, along with an exciting array of productions includin8
& Jullet, The Lust Lough, Dear Enqlond, TINA - The fina Turner Musicol and for our younger oudiences. Dlnosaur World Llve
and The Tiger Who Came to Tea.

CITY OF SHEFFIELD THEATRE TRUST
DIREcfoRS' REPORT FOR THE PERIOD ENDING 31 MARCH 20251contlnued)
Financial review
The financial performance in 2024/25 is a surplus of unrestricted funds of £219,46912024.. surplus E36,962).
The high level of cash balance is predominantly cash bLtilt up as customers be8ln to book In advance for productions showing
after the perlod end.
Investment powers and pollcy
Under the Memorandum and Articles of Association, the charity has the power to invest in any way the trustees wish.
Reserves policy
The tompany is part of the Sheffleld Theatres Trust group and its reserves are taken into account as part of the group's reserves
policy. The Lyceum theatre is a Grade 11 listed building, built in 1897 with a capacity of 1,068 and requiring a high level of
upkeep. Certain reserves have been designated for future depreciation on tangible fixed assets and unforeseen major repairs as
sei out In note 9.
Directors
The directors, who are also trustees of the charlty, during the period and to the date of this report were as follows:
Nomlnated by Sheffield Theatres Trust
Mr James Garnett
Ms Eleanor Lang
Mf Neil MacDonald OBE
Ms Kirsten Majo
Ms Rosie Neave
Mr Aiun Sin8h

CITY OF SHEFFIELD THEATRE TRUST
DIRECTORS, REPORT FOR THE PERIOO ENDING 31 MARCH 2025 Icontinued)
Constitution
The company is a company limited by guarantee and not having a Share capital. Each member gives a guarantee to contribule a
sum not exceeding £1 to the company should il be wound up At 31 March 2025 there were 6 members
statement of Trustees, Respanslbllltles
The trustees (who a re also directors of City of Sheffield Theatre Trust for the purposes of company lawl are responslble for
preparin8 the Tru5tee5' Annual Report lincluclin8 the Strategic Report) and the financial statements in accordance with
applicable law and United Kingdom Accounting standards (United Kingdom Generally Accepted Accounting Practicel.
Compa ny law requires the trustees to prepare finantial statements for each financial period. Under company law the trustees
must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs ol
the charitable company and of the incoming resources and application of resources, includin8 the income and expenditure, of
the charilable company for that period. In preparin8 these financl31 statements, the trustees are required to..
select suitable accounting poIiciE5 and then apply them conslstently;
observe the methods and principles In the Charltles SORP 2019 IFRS 1021,.
make lud8ements and e5timate5 that are reasonable and prudent,.
state whether appllcable UK Accountlng Standards have been followed,.
prepare the financial statements on the going concern basls unless It Is Inappropriate to presume that the charitable
company will continue in operation,
The trustees are responsible for keepin8 adequate accountlng records that disclose with reasonable accuracy at any tlme the
financial position of the charitable company and enable them to ensure that the financial statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taklng
reasonable steps for the preventlon and detection of fraud and other irregularities.
statement of disclosure of Information to auditors
In so far as the trustees are aware,,
there is no relevant audit information of which the charitable company's auditors are unaware,. and
the trustees have taken all Steps ihat they ought to have taken to make themselves aware of any relevant audit
Informatlon and to establish that the audltor is aware of that Information
In approvlng the Trustees, Annual Report, we also approve the 5trateglc Report included therein, In our capaclty as company
dlrectors.
Slgned on behalf of the board
OA /trL•
Mr Neil MacDonald OBE
Clty of Sheffield Theatre Trust
Date:
23

CITY OF SHEFFIELD THEATRE TRUST
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST
Oplnlon
We have audited the financial Statements of City of Sheffield Theatres Trust (the 'charitable companv) for the period ended 31
March 2025 which comprise the statement of financial activities lincorporating the income and expenditure accounil, the
balance sheet, the statement of cash flows and notes to the financial statements. including a summary of significant accounting
policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom
Accountin8 Standards. including Financial Reporting Slandard 102 The Financial Reporting Stondord applicoble in the UK and
Republic of Ireland Iunited Kingdom Generally Accepted Accounting Practitel.
In our opinion the financial statements..
give a true and falr view of the state of the charitable company's affaiis as at 31 March 2025 and of its incoming resources
and application of resources, including its income and expenditure, for the period then ended.
have been properly prepared in accordance with United Kingdom Generally Accepted Accountin8 Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.
Basls for oplnion
We conducted our audit in accordance with International Standards on AuditinB IUK) IISAS IUKII and applicable law. Our
responsibilities under those Standards are further described In the Auditor's responsibilitles for the audit of the financial
Statements section of our report. We are independent of ihe charltable company in accordance with the ethical requirements
that are relevant to our audit of the financlal statements in the UK. includin8 the FRC'S Elhical Standard, and we have fulfilled
our other ethical responslblllties in accordance with these requirements. We believe that the audit evidence we have obtained
Is suflicient and appropriate to provide a basis for our opinion.
Conclusions relatln8 to 8olne concern
In auditin8 the financial statements, we have concluded that the trustees, use of the goin8 concern ba515 of accounting in the
preparation of the flnancial statements Is appropriate.
Based on the work we have performed. we have not identified any material uncertaintie5 relatln8 to events or conditions that,
individually or collectively. may cast significant doubt on the charitable company's ability to continue as a going concern for a
period of at least twelve months Irom when the financial Siatements are authorised for issue.
Our responsibilliies and the responsibilities of the trustees with respect to 8oin8 concern are described in the relevant sections
of this report.
Other Informatlon
The other information comprises the information included in the irustee5' annual report, other than the flnancial statements
and our auditor's report thereon. The trustees are responsible for the other information contained within the annual reporl. 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 responsibility is to read the other information and,
in doin8 so, consider whether the other information is matef ially inconsistent with the f inancial statements or our knowledge
obtained in the course of the audit or otherwise appears to be materially miS5tated. If we Identify such material inconsistencies
or apparent material mlsstatements, we are required to determine whether this gives rise to a material misstatement in the
financial stoternents themselve5. If, based on the work we have performed, we conclude that there is a material misstatement
Df thls other information, we are required to report that fact.
We have nothing to report in this regard.

CITY OF SHEFFIELD THEATRE TRUST
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (continued)
Opinion5 on other matter5 prescribed by the CompanSes Act 2006
In ou r opinion, based on the work undertaken in the course of the audit.,
the information given in the trustees, repoit lincorporatin8 the strategic report and the directors. report) for the financial
period for which the financial statements are prepared is consistent with the financial statem ents,. and
the Strategic report and the directors. report have been prepared in accordance with applicable legal requirements.
Matters on whlch we are required to report by exception
In the light of our knowledge and understanding of the charitable company and its environment obtained in the course of the
audit, we have not identified material misstatements in the strategic report and the directors, report.
We have nothing to report in respect of the followln8 matters in relation to which the Companies Act 2006 requires us to report
to you if. in our opinion:
adequate accountln8 iecord5 have not been kept, or returns adequate foi our audit have nol been received f rorn branches
not vlsited by us,. or
the financial statements are not In agreement wlth the accounting records and return5,' or
certaln disclosures of directors, remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.
Responslblllties of trustees
A5 explained more fully in the tru5tees' ie5ponsibilities statemenl set out on page 5, the trustees (who are also the directors of
the charitable company for the purposes of company lawl are re5pon5ible for the preparation of the flnancial statements and for
being satisfied that they give a true and fair view, and for such internal control as the trustees determlne is necessary to enable
the Preparation of financlal statements that are free from material misstatement, whether due to fraud or error.
In preparin8 the financial statements, the trustees are responsible for assessing the charitable company's ability to continue as a
going concern, disclosln& as applicable. matters related to going concern and usin8 the going concern basis of accou ntin8 unless
the Irustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternatlve but to do
so.

CITY OF SHEFFIELD THEATRE TRUST
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (continued)
Auditor'5 re5pon51bllltles for the audlt of the flnan¢ial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to Issue an auditor's fepori that Includes our opinion. Reasonable assurance Is
a hiEh level of assurance, but is not a guarantee that an audll conducted In accordance with ISAS IUKI will always detect a
material misstatement when It exlsts. Mlsstatements can ar15e from f raud 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
fsnancial 5t3tements.
The extent to which our procedures are capable of detectln8 irre8ularities, including fraud is detailed below:
The charitable Company is subject to laws and regulations that directly and indirectly affect the financial statements. Based on
our understandin8 of the charity and the environment it operates within, we determined that the laws and règulations which
were most significant included FRS 102 and the Companies Act 2006. We considered the extent to which non-compliance with
these laws and regulations might have a material effect on the financial statements, IncludinB how fraud might occur. We
evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk
ol override of controls), and determined that the principal risks were related to the postin8 of inappropriate journal entries to
Improve the charity's result for the period, and management bias in key accountin8 estimates,
Audit procedures performed by the en8a8ement team included..
Discussions with management and th95e responsible for le8al compliance procedures within Ihe charitable company to
obtain an understanding of the legal and regulatory framework appllcable to the charity and how the charity complies with
Ihat framework, including consideration of known or suspected Instances of non.compliance with laws and re8ulations and
fraud,,
Reviewing minutes of Trustee meetings,.
Identifying and assessing the design effectiveness of contro15 that management has In place to prevenl and detect fraud and
non-compliance with laws and regulations,.
Challenging assumptlons and judgements made by mana8emenl in their si8nlflcant accou nting estimates.
Identifying and testin8 journal entries. In particular any journal entries posted with unusual account combinations or posted
by senior management.
A luriher description of our responsibilities 15 available on the Financial Reporting Council's websile at
www.frc.org.uk/auditorslaudlt-assurance/auditor-s-responsibilities-for-the-audit-of-the.fi/des¢ription-of-the-audltor's-
responsibilities-for. This descriptlon forms part of our auditor's report.

CITY OF SHEFFIELD THEATRE TRUST
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF CITY OF SHEFFIELD THEATRE TRUST (continued)
Use of our report
This report 15 made solely to the charitable company's members, as a body, In accordance with Chapter 3 of Part 16 of the
Companles Act 2006. Our audlt work has been undertaken so that we might state to the tharitable companvs members those
matters we are required to state to them in an audltor's report and for no other purpose. To the fullest extent permltted by
law, we do not accept or assurne responsibility to anyone Other than the charitable company and the charitable companvs
members as a body. for our audit work. for this report, or for the opinions we have formed.
LJJw>
Simon Bladen, Senior Statutory Auditor
For and on behalf of Hawsons Chartered Accountants, Statutory Auditors
Pegasus House
463a Glossop Road
Sheffield
SIO 2QD
Date..
IS o.l.Ev lozs

CITY OF SHEFFIELD THEATRE TRUST
ACCOUNTING POLiaES
The foMowin8 accountln8 policies have been used consistently in deallne with items which are considered material to the
haritable company's affairs.
Statutory Informatlon
aty of Sheffield Theatre Trtsst Is a charity (No. 11212841 and a company limited by guarantee (No 63083821 domiciled in England
and Wales. The registered offlcels at 55 Norfolk Street, Sheffield, Sl IDA.
Accountlng Conventlon
The charlty constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance
wlth Accounting and Reportln8 by Charities., Statement of Recommend Practice appllcable to charities preparin8 their accounts
in accordance With the Financlal Reporting Standard appllcable in the UK and Republlc of Ireland issued In October 2019, the
Financial Reportlng Standard applicable In the United Kin8dorn and Republic of Ireland IFRS 1021, the Companies Act 2006 and
UK Genera#y Accepted Practice.
The presentatlon currency is Unlted Kln8dom pounds sterlin& which is the funrtlonal currency of the charlty.
The financial statements have been prepared on a going concern basis which assumes that the company wlll contlnue In
operatlonal existence for the foreseeable future.
Incomlng Resources from Generated Funds
Voluntary income prlmarity represents 8rants receivable. Revenue 8rants are recognised at fair value when the company has
entitlement after any performance condltlons have been met, It Is probable that the incorne will be received and the amount
can be measured reliably. Grants to finance capltal expenditure are credited to restrlcted funds using the same criteria as
revenue grants.
Incoming Te50urces from charitable activltles primarily represent ticket sales and related fees lor performances condLtcted In the
period. Any tickets sold in advance are included in cash and deferred income.
city of Sheffleld Theatre Trust is a culturally exempt organisatlon under schedule 9 of the VAT Act 1994 and as such tlcket sales
are culturally exempt from VAT.
Charltable Actlvltles
Charitable activities Include expenditure associated with the stagin8 of shows and Include both the dlrect costs and support
costs relatln8 to these activities.
Irrecoverable VAT Is charged agalnst the cost of charitable activities, where it Is Incurred.
Other Costs
Governance costs Include those incurred in the 8o¥ernance of the charity and its assets and are primarily assoclated wlth
constltutional and statutory requirements.
TanBlble Assets
Tangible assets for use by the charlty are capltalised if they can be used for more than one year and cost over £l,SOO. They are
valued at cost. No depreciatlon is provlded in the year of acqui51tlon.
Fixtures and fittln8s; equipment and furnlture - These are depreclated in equal annual instalments over their estimated useful
Ilves which ran8es from 3 to 10 years.
Leases
Rentals payable under operatin8 leases are charged in the Statement of Financlal Activitles in the period in which they are
incurred.
10

CITY OF SHEFFIELD THEATRE TRUST
ACCOUNTING POLICIES Icontinued)
Reserves
Restricted Funds Amounts received 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
Financial Activities.
Desi£naled Funds
Amounts that have been specified by Trustees to be used for a particu14r purpose are credlted to
Designated Funds. This includes a fund for unplanned major building repair5 and a fund for the net book value of unrestrlcted
tangible fixed assets.
Unrestricted Funds- These are reserves not desi8nated or restricted for a special purpose. These are available at the discretion
of the Trustees for such purposes as the Theatre may require. The Trustees, aim is to maintain sufficient unrestricted reserves to
safeguard the fln3nclal viability of the Company.
Golng concern
After due consideration of all relevant factors the company's income and cash flow forecasts and projections indicate that the
ompany should be able to continue lo operate for the foreseeable future.
The Tru5tee5 therefore have a reasonable expectation that the company has adequate resources to continue in operatlonal
existence for the foreseeable future. Accordin8lyi they continue to adopt the 80ing concern basis in preparing the financial
statements.

CITY OF SHEFFIELD THEATRE TRUST
STATEMENT OF FINANCIAL ACTIVITIES
{INCLUDING INCOME AND EXPENDITURE ACCOUNT)
PERIOD ENDED 31 MARCH 2025
As Restated
Year Ended
31 July
2024
Perlod Ended
31 March
2025
Unrestrlrted
Funds
Restrlcted
Funds
Notes
Total
Total
Incomlng resources
Incoming resources from generated funds..
Donations and legacies
Other tradin8 activities
Invesiment income
23.116
23.116
16,667
200,CQO
30,000
25,000
337,SOO
16,667
200,000
Incomin8 resources from
charitable activities
S,803,313
S,803,313
8,117,650
Total Incomln8 resources
6,019,980
23,116
6,043,096
8,510,150
Resources expended
Raisin8 funds
Charit¢ible activitles
Other
5.770,145
7,250
5,777,395
11,941
5,782,086
7,250
S,789,336
8,576,563
4,800
8,581.363
Total resources expended
11,941
Net incomlnBlloutgolng}
resources before transfer5
242,585
Al.17S
253,760
(71,213
Transfers between funds
123,116)
23,116
Net movement In Funds
219,469
34,291
253,760
171,213)
Fund balances brought forward at l Au8USt
Fund balances carrled forward at
31 March 2025131 July 2024
S72,578
25,827
598,405
669,618
792.047
60,118
852,165
598,405
There are no recognised gains and losses other than the results for the period set out above.
There is no difference between the amounts Stated above and their historical cost equivalents.
There were no discontinued operations.
Refer to note 19 regarding previous year's restaternent.
12

CITY OF SHEFFIELD THEATRE TRUST
COMPANY REGISTRATION NUMBER: 6308382
BALANCE SHEET
AS AT 31 MARCH 2025
31 March
2025
31 July
2024
Notes
FIXED ASSETS
li
103,800
16.664
CURRENT ASSETS
Debtors
12
443,819
5,757.708
773,880
5,211,041
5,984,921
Cash at bank and in hand
13
6,201,527
CREDITORS
Amounts falling due within one
year
14
15,453,162)
15,403, 1801
NET CURRENT ASSETS
748,365
581,741
NET ASSETS
852.165
598,405
RESERVES
Restricted funds
Designated funds
General fund
60.118
248,716
543,331
8S2,165
25,827
228,150
344,428
598,405
These financial statements were approved and auihorlsed for issue by the board of directors on
signed on its behalf by..
23
and
MT Neil Macoonald OBE- Dlrector
13

CITY OF SHEFFIELD THEATRE TRUST
STATEMENT OF CASH FLOWS
PERIOD ENDED 31 MARCH 2025
Period Ended
31 March
2025
Year Ended
31 July
2024
Notes
Cash flow from operating actlvlties
436.581
1,809,523
Cash flow from Investing actlvities
Capital expenditure
Bank interest recelved
189,9141
200,000
110,086
337,500
337,500
Net cash flow from investln8 attlvltles
Net Increase in Cash and cash equivalents
546,667
2,147,023
Cash and cash equivalents at l Au8USt
5,211.041
3,064.018
Cash and cash equivalents at 31 March 2025131 J uly 2024
5,7S7,708
5,211,041
Cash and cash equlvalents consists of:
Cash èt bank and In hand
5,757,708
5,211,041
14

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS
PERIOO ENDED 31 MARCH 2025
I INCOME FROM DONATIONS AND LEGACIES
Perlod Ended
31 March
2025
Year Ended
31 July
2024
Unre5trlcled
Sheffield Lyceum Theatre Trust
Total unrestrirted
30,000
30,000
Restrlcted
Sheffield City Council UKSPF Low Carbon Projecl
Total restrlcted
23,116
23,116
Total
23.116
30,000
2 INCOME FROM CHARITABLE AcfiviTIES
As Restated
Year Ended
31 July
20Z4
Perlod Ended
31 March
2025
Unrestrlcted
Ticket and related sales
S,803,313
8,117,650
15

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS {continued)
PERIOD ENDING 31 MARCH 2025
3 STAFF PARTICULARS
Period Ended
31 March
2025
Year Ended
31 Julv
2024
Slalf costs retharged comprised:
Wages and salaries
Social security costs
Pension costs
940,465
85,516
63,976
1,089,957
1,342,110
111,646
90,530
1,544,286
All staff have contracts of employment with Sheffield Theatres Trust and are rechar8ed by that company to City of Sheffield
Theatre Trust. Remuneration of key mana8ement personnel is disclosed In Sheffleld Theatre5 Trust.
No staff received annual emoluments In excess of £60,000.
No remuneration or expenses were paid during the period to the 6 directors of the company.
4 NET INCOMING/{OUTGOINGI RESOURCES
Perlod Ended
31 March
2025
Y•ar Ended
31 Julv
2024
lal This is stated alter chafginE/lcreditingl'.
Auditors. remuneration as auditors
Depreciation
Bank interest receivable
Operating lease rentals:
Land & bulldin8S
7,250
2,778
(200,0001
4.800
108.175
(337,5001
13,533
20,300
S RECONCILIATION OF NET INCOME TO NEf CASH FLOW FROM OPERATING ACTIVITIES
Perlod Ended
31 March
2025
Year Ended
31July
2024
Net incomellexpenditure
Bank inlerest receivable
Depreclation
Decrease in debtors
Increase in creditors
253,760
{200,OCKIl
2,778
330,061
49,982
436,581
171.2131
1337.5001
108,175
1.401,112
708.949
1,809,523
Net cash inflow from operating activities

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS {continued)
PERIOD ENDING 31 MARCH 2025
6 RESOURCES EXPENDED ON RAISING FUNDS
Period Ended
31 Maich
2025
Year Ended
31 July
2024
Fundra15in8
7 COST OF CHARITABLE ACTIVITIES
As Restated
Year Ended
31 July
2024
Perlod Ended
31 March
2025
Production C05t$
Guest productlon fees and other costs
Indirect produclion consumables
Miscellaneous costs
3,956,895
1,285
1,798
8,283
724
5,815.695
963
1.779
19,383
405
Programme costs
Licences and subscription5
3.968.985
5,838,225
Staff Cogts
StaffinB Costs
Trainin& recruilment and other costs
1,007,554
4,758
1.012.312
1,417,697
9,801
1,427,498
Establlshment Costs
Rent, rates and Insurance
Heat and power
Electricity
Repairs and renewals
Waste disposal
Depreciation
106,972
31,934
78,211
69,244
6,772
2,778
295,911
147.950
14,335
114,654
166.475
10,584
108,175
562,173

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS (Continued)
PERIOD ENDING 31 MARCH 2025
7 COST OF CHARITABLE AcfiviTIES {continued)
As Restated
Year Ended
Period Ended
31 March
31 July
2024
2025
Selling Costs
Publicity and advertisin8
Box office computer systems
Miscellaneous selling Costs
Credit card commisslon
Telephone, postage, statlonery and photocopyln8
Travel and entertainlng
208,494
56,186
23,470
352,572
70.501
5.053
96,775
13.381
1,644
539,926
55,345
7,340
1,136
351.971
Support Costs
Staffing costs
Training, recrultment and other costs
Telephone, posta8e, stationery and photocopyin8
IT maintenance and peripherals
Travel and eniertaining
Professlonal char8È5
Bank charges
Licences and subscriptions
Miscellaneous
82,403
16,388
1,119
14.377
6,289
5,341
2.977
22,743
1,270
152,907
126,589
24,702
1,891
15,589
8,318
8,823
4,742
15,417
2,670
208.741
Total costs of charitable activities
5,782.086
8,576,563
The company initially Identifies the costs of its support functions which relate solely to the overall objective of producin8 varied
ran8e of performances, Governance costs are identified separately and are Included In olher costs as detailed in note 8.
8 OTHER COSTS
Perlod Ended
31 March
2025
Year Ended
31July
2024
Auditors, rernuneration - governance costs
7,250
4,800
18

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS {continued)
PERIOD ENDING 31 MARCH 2025
9 RESERVES
As Restated
As Restated
Outgoing
Resource5
At l August
2023
Incomlng
Resources
Transfers
At 31 July
2024
RESTRICTEO
Capital Redevelopment Fund
Total Restrlcted Funds
134.002
134.002
1108,1751
1108,1751
2S,827
25,827
UNRESTRICTED
General
Desi8nated major repairs
Total Unrestricted Funds
345,616
190,000
535,616
8,510,150
18.461.338)
{11,8501
(8,473,188)
150,0001
50,OCKI
344,428
228,150
572,578
8,510,150
Total Funds
669,618
8,510,150
(8,581,363)
598,405
At l August
2024
Incomln8
Resources
Outgoing
Resources
Transfers
At 31 March
2025
RESTRICTED
Capltal Redevelopment Fund
Total Restrlcled Funds
25,827
25,827
23,116
23,116
111,9411
(11,9411
23,116
23,116
60,118
60,118
UNRESTRICTED
General
Designated - major repairs
Designated fixed a55ets
Total Unrestrlcted Funds
344,428
228,150
6,019.980
IS,777,395)
143,6821
{23,1161
43,682
(23.116)
543,331
205.034
43,682
792,047
57Z,578
6,019,980
15.777,3951
Total Funds
598,405
6,043,096
(5,789.336)
852,165
The capital redevelopment fund is the balance of funds received to finance the redevelopment work on The Lyceum Theatre
now capita lised,
The designated fund for major repairs and renewals IS a fund foi unplanned major repairs, investment into new equipment or
the refurbishment of the theatre.
The d esi8nated fund for fixed assets represent5 the net book value of unrestrlctèd tangible fixed assets. The expenditure from
the fund iepresents depreciation charges, and transfers Into the fund will be made for future additions to the charity's fixed
ssets.
Refer to note 19 regarding previous year's restatement.
19

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS (continued)
PERIOD ENDED 31 MARCH 2025
10 ANALYSIS OF NET ASSETS BETWEEN FUNDS
Unrestricted
Funds
31 July
2024
Restricted
Fund5
31 July
2024
Total
31 July
2024
Tangible fixed asset5
Current assets
16.664
9,163
16,664
5,984.921
IS,403.1801
598,405
5.975,758
15,403,180)
572,578
Current liabillties
25.827
Unrestrlcted
Funds
31 March
2025
Re5trlcted
Funds
31 March
2025
Total
31 March
2025
Tangible fixed assets
Current assets
43,682
6,201,527
15,453,162)
792,047
60,118
103,800
6.201.527
IS,453,162}
852,165
Current Ilabillties
60,118
20

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS (continued)
PERIOD ENDED 31 MARCH 2025
11 FIXED ASSETS TANGIBLE
Land and
Buildings
Long
Leasehold
Fixtures and
Flttlngs
Plant and
Equlpment
Total
Cost
At l August 2024
Additions
239,980
764,296
89,914
823,904
1,828,180
89,914
Disposals
At 31 March 2025
239,980
854,210
823,904
1,918,094
At I Au8USt 2024
Charge for the period
Disposals
At 31 March 2025
239,980
747,632
2,778
823,904
1,811,516
2,778
239,980
750,410
823,904
1,814,294
Nel Boo
At 31 March 2025
103,800
103,800
At l August 2024
16,664
16,664
12 DEBTORS. DUE WITHIN ONE YEAR
31 MJr¢h
2025
31 July
2024
Trade debtors
Amounts owed by fellow subsidiarie5
Amount owed by parent company
Prepayments and accrued income
1,366
loo.000
200,000
142,453
443.819
92,OS9
367,023
314,798
773B80
13 CASH AT BANK AND IN HAND
31 March
2025
31 July
2024
Cash at bank and in hand
5.757,708
5,211,041
21

CITY OF SHEFFIELD THEATRE TRUST
NOTES ON ACCOUNTS {continued}
PERIOD ENDED 31 MARCH 202S
14 CREDITORS- DUE WITHIN ONE YEAR
31 March
2025
31 July
2024
Trade creditor5
100.980
349,730
96,414
17,023
4,940,013
5,403,180
Other creditor5
Taxation and social securilv
Accruals and deferred income
5,352,182
5,453,162
15 TAXATION
The company is a re8iStered charity and as such Is not normally liable to corporatlon tax.
16 FINANCIALCOMMITMENTS
31 March
2025
31 July
2024
Land and bulldln8S
Within one year
8eiween 2 and S years
Over five years
20,300
81,200
362.017
20,31)0
81,200
375,550
17 ULTIMATE CONTROLLING PARTY
The ultlmate controlling party is Sheffield Theatres Trust, a registered charity.
18 TRANSAcfioNS WITH RELATED PARTIES
In accordance with FRS 102 paragraph 33. IA the company has taken advantage of the exemption from disclosing transaetlons
with its parent company and its fellow wholly owned subsidiaiy companies.
Lease payments of £13,533 were made to the Lyceum Theatre Trust and management fees were recelved of £1.667. The City of
Sheffield Theatre Trust holds a 35 year lease of the Lyceum Theatre.
19 RESTATEMENT OF COMPARATIVES
The comparative figures have been restated to gross up incoming resources and resources expended on charitable activities to
reflect the company's cultural services exemption for VAT and costs recharged to co"producers and guest productions.
The restatement had no effect on the net movement of funds for the year ended 31 July 2024 and no effect on the funds
brought forward at l August 2023.
22