Charity Re8iStration No. 1134863 Company Reglstratlon No. 06940032 (England and Wales) THE LOFfTHEATRE COMPANY ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2025
THE LOFf THEATRE COMPANY LEGAL AND ADMINIRATIVE INFORMATION Trustees Mr D Fletcher Mrs S Moore Mr J Synge Mr C O'Brien M5 V Bett5 Mr P Harrison Ms M McDonough Mr D Barclay Mr C Gilbey-smith (Appointed 19 August 20251 IAppointed 19 August 20251 Ms R Pankhurst Presldent David Bradley Charlty number 1134863 Company number 06940032 Reglstered office Loft Theatre Victoria Colonnade Leamington Spa Warwickshi CV313AA Independent examlner Burgis & Bullock 23-25 Waterloo Place Leamington Spa Warwickshire CV32 SLA Bankers HSBC Bank plc The Parade PO Box 88 Leamington Spa Warwickshire CV32 4BU Sollcltors Blythe Liggins Edmund House Rugby Road Leamington Spa CV32 6EL
THE LOFf THEATRE COMPANY LEGAL AND ADMINIRATIVE INFORMATION In¥tment advisors Self Chartered Financial Planners 6 Elm Court Arden Street Stratford Upon Avon Warwickshire CW37 6PA
THE LOFf THEATRE COMPANY CONTEKf5 Page Trustees, report Independent examiner's report Statement of financial activities Balance Sheet io.ii Notes to the financial statements 12-25
THE LOFf THEATRE COMPANY TRUSTEES. REPORT {INCLUDING DIREoR5. REPORT) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 The trustees present their report and accounts for year ended 31st December 2025. The accounts have been prepared in accordance with the accounting policies set out in Note I to the accounts and comply with the charity's governing document. the Companies Act 26 and "Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their account5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting period5 commencing from l January 20191. Stru¢ture* Éovernance and management The charity is a company limited by guarantee and was incorporated on 22nd June 2CQ9. The charity is governed by its Memorandurn and Article5 of Association dated 22nd Jvne 2009 as amended by special resolution dated Ilth January 2010, special resolution dated 8th April 2018 and special resolution dated 9th May 2022. The trustees. who are also the directors for the purpose of company13w. and who served during the year and up to the date of signature of the financial ststements were.. Member of audlt panel Mr D Fletcher Ms S Moore Mr C O'Brien Mrj Synge Ms V Betts Mr D Barclay Mr P Harri50n Ms M McDonou8h Mr C Gilbey-srnith Ms R Pankhurst Mr R Moore Iresigneil 22 June 20261 Ms L Frazier (resigned 19 August 20251 Ms V Holding (resigned 19 August 20251 Yes Yes Yes The board have appointed an Artistic Director. Sue Moore. and a General Manager. Robin Boyd, and delegated to them limited powers to manage the day-to-day affairs of the company. The Loft Theatre Company is run almost entirely by volunteers and provides opportunities for the community to join the Theatre and participate in the management and presentation of high quality theatre. There are no barriers to participation and admission to performance5 is open to the general public and there are concessionary ticket price scheme5 in operation. The Trustees have a55e55ed the major risk factors to which the charity is exposed and are satisfied that systems are in place to rnitigate the company's exposure to ri5k5.
THE LOFf THEATRE COMPANY TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Trustees are generally appointed at the AGM. The process of appointing and retiring trustees, is set out in our Articles 31 to 45, as amended by special resolution dated Ilth January 2010, special resolution dated 8th April 2018 and special resolution dated 9th May 2022. None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up. Oblectives and activitles l. To advance education in the arts, primarily the performin8 arts. for the public benefit, in particular bv.. al the production and promotion of theatre play5: bl encouraging and promoting the study and appreciation of theatre and participating in making theatre,. and cl encouraging and promoting appreciation and interest in performing arts. including music, film and dance. 2. To provide or a5515t in the provision of facilities, in the interests of Social welfare, for recreation or other leisure time occupation of the public with the objert of improving their quality and conditions of life. The trustees have paid due regard to guidance issued by the Charity Commlsslon In declding what actlvlties the charity should undertake. Achlevements and perforn)ance Across 2025 we staged nlne Main House produrtions, plus a produdion which reopened our SO seat Studlo Theatre for the first time since Covid. We 31$0 hosted two one-night sellout performances from returning professional visitin8 companies. Our work continues to receive exceptional artistic acclaim and our programme consistently attracts an impressive response from actors known and new to us for each reading and audition, ahead of casting. We are deli8hted that we have received attention from two playwri8hts this year due to the standard of our productions. Following SO years of hosting external youth theatre groups. in 2025 we embarked on the creation of our first inhouse Loft Youth Theatre Ensemble. under the leadership of a Masters graduate in performing arts. commencing with taster sessions and summer workshops in August 2025. We were unable to gain traction with the launch and after two months we abandoned the project. We are now considering our options in a flooded market. We were thrilled to announce at our AGM that revered artor, David Bradley, who lives in Leamington, had accepted to become our President. David is a regular supporter of our work and vocal about the professional level of our productions. In December 2025 we showed two films in the auditorium on a large screen. The first was a new film commissioned by the Leamington History Group titled Le3mington at War. Some of this was filmed in the Loft auditorium, with Loft actors on stage and as voice overs. The second film was a full length film of our 2024 production of Uncle Vanya. filmed and edited by Michael Wheeldon to an exceptional standard. Our dependency on our team of talented and committed volunteers prompted u5 to appoint a Volunteer Co- ordinator, Dave Barclay, in the last year and we made some changes to our sy5tem5 that will improve our communication5 and the nurturing of our volunteers, 50 that they can broaden their option5 to contribute.
THE LOFf THEATRE COMPANY TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Our decision to create trailers for every production and to introduce sponsored ads on social media platforms in targeted campaigns has, after 3 strong start, plateaued somewhat. We are considering 311 our options to ensure that our high quality content has more impact. We commissioned a report into our marketing and prornotion with Masters students from Warwick University. Our marketing team are considering the best suggestions from this. Our free ticket offer to 16-25 year olds has gained momentum and has been universally welcomed. What has been pleasing is that we are also regularly attracting more full price ticket sales rather than concessions for many productions. This has significantly and noticeably altered the age profile of our audiences overall. We continue to invest in the theatre infrastructure. with new external lighting. a new liEhting desk. new projection equipment and a continuing maintenance programme which will escalate into a major capital project in 2026. 2025 PRODUCTIONS Medea Euripides- Version by Ben Power Nick Payne Steven Sater and Duncan Sheik Constellations Spring Awakening The just Prlce of Flowers James Yarker Thin8s l Know To Be True Up 'n Under Doctor Faustus Andrew Bovell John Godber Christopher Marlowe in J new version by David Fletcher David Eldridge Giles Allen-Bowden Beglnnln8 The Cage Protects Me Dancing at Lughnasa Brian Friel Flnanclal Revlew The 2025 financial year marked 3 period of significant challenge for the Loft Theatre, with a number of specific factor5 Inoted below) resulting in an operatin8 deficit of £41,314, compared with a surplus of £45,598 in 2024 (including a le8acy of £21,893), representing a year-on-year movement of £86,912. Income Performan¢e Total contribution for the year was £129,820, down from £193,934 in 2024. The most significant factors were the return to more normal levels of ticket sales after an exceptionally good year in 2024, and the need to make a major change to our programme at short notice: Studlo and vlsltor contrlbutlon at £2.201 were slightly lower than previously. Other income streams were also . Bar and caterlng Sncome reduced to £19.548 (from £23.1761 to flect lower audience numbers Investment income was notably strong at £20.194. reflecting favourable market conditions prior to the strategic sale of the investment portfolio.
THE LOFf THEATRE COMPANY TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Empèndlture and Cost Pressures Total overheads increased from £146,830 in 2024 to £171.134 in 2025, an inCaSe of £24,3041+14%1. The most significant cost pressures were.. Utilities. rising from £33.391 to £49.074 an increase of £15.683 1+47%). This was primarily due to higher usage in both extremes of cold and hot weather. Salaries and wages. increasing from £30.820 to £34.908 relating to the maternity of the production manager. Maintenance, risinB from £17.958 to £23,298. caused mainly by the full year effect of a new theatre cleaning contract. Marketing, box offite, and other administrative costs remained broadly consistent year-on-year. Cash, Investments, and Capltsl Posltlon Cash balances decreased from £126,724 to £99,791, reflecring the operating deficit and capital expenditure of £14,947, the latter being investment in the projectof system and buildin8 improvements A major strategic financial decision was taken in October 2025, when the theatre sold Its entlre Investment portfolio. This was done in order to be ready to fund the substantial roofing and HVAC project scheduled for 2026, (please see summary report after this review). As a result, the theatre's capital reserves are now held fully in cash rather rather than investment assets. Concluslon The 2025 results reflect a year of financial pressure, shaped by a number of specific factors. At the same time, the Trustees have taken prudent steps to prepare for major capital works. ensuring liquidity for the forthcoming HVAC replacement. Strengthening production revenues. managing cost pressures, and rebuilding cash reserves will be central prioritie5 for the year ahead. The Loft Theatre continues to benefit from a strong balance sheet. dedicated volunteers, and a loyal audience community. These foundations position the organisation well a5 it enters a year of significant investment in it5 building and future. Capltal Project 2026 In April 2026, the trustees passed a resolution to go ahead with a capital project to replace the theatre's roof and its heating, air-conditioning, and ventilating sy5tem5, which are now in urgent need of renewal. This decision followed a careful programme of feasibility Study, desigrb and tendering. The project will secure the infrastructure of the theatre, improve the comfort of audiences and volurbteer5, reduce annual fuel c05t5, and make significant improvements to the theatre's environmental efficiency by switching to systems that run entirely on electricity, rather than the gas systems currently is use. The work will take place over summer 2026. The budget for the project is £458k plus VAT. Some funds have been received from trusts and from a fundraising appeal, but most of the funds will be provided from the charity's free reserves which, at 31&t December 2025 stood at £722k. These reserves have been producing a stream of investment income, and this will now reduce. The impact of this will be mitigated somewhat by annual savings in fuel costs and other cost savings that have been identified by the officers. The trustees are confident that the charity's working cash position will not be adversely affected.
THE LOFf THEATRE COMPANY TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Reserves Pollty The charity's total reserves at the year*nd were £854,85212024'. £861,169). This includes investment reserves of £638,095 and capital funds of £131,997 Ibeing the net book value of the fixed assets). Since the liquidation of the investment portfolio, the resulting reserves are being held as cash on deposit, generating an income stream roughly similar in amount to before. To the extent this cash is utilised for the forthcoming capital projects, the income thus produced will of course fall. In view of the charity's responsibilities as an employer and the inherent uncertainties over future income sources, the Trustees agree that it is appropriate to maintain unrestrictedlfree reserves equivalent to not less than half of the past year'5 expenditure. 31 Oe¢ember 2025 31 December 2024 Incorne from Loft Production5 Costs of Loft Productions Net Contribution of Loft Productions 115,208 29,710 134,909 15,436 85,498 119,473 Income from Visitor Productions Costs of Visltor Production5 Net Contr5bution of Visitor Productions 6,141 3.940 17,363 11.289 2,201 6,074 Income from 8ar Trading Costs of Goods Sold 34.401 14,853 40,268 16,206 Gross Proflt Expen5e5 Net Contribtjtion of 8ar Trading 19,548 23,176 19,548 23,176 Income from Other Trading Net Contribution of Other Trading 260 4,539 260 4,539 Legacies Donations and Sunilry Income Investment Income Bank Interest 21,893 698 16,667 1,414 20.194 1,675 Net Incoming Resources 129,820 193,934
THE LOFf THEATRE COMPANY TRUSTEES. REPORT (INCLUDING DIREcfoRS' REPORT) ICONTINUEDI FOR THE YEAR EJ¥DED 31 DECEMBER 2025 House Costs.. Staff C05t5 34,908 49.074 23,398 5,374 30,820 33.391 17,958 6.679 Maintenance Insurance Total House Costs 112,754 88,848 Deprec5ation Marketing & Box office costs Adrnin costs 20,434 27.553 10.393 18,693 29,782 11,013 Outgoing resources 171,134 148,336 Surplus/lDeflcitl on ongolng actlvities 141,3141 45,598 Gain on investments 34.997 46,028 Net Movement in Funds 16,3171 91,626 The trustees, report was approve(J by the Board of Trustees. Mr J Syn8e 09 Jul 2026 Date-
THE LOFf THEATRE COMPANY INDEPENDENT LXAMINER'S REPORT TO THE TRUStEES OF THE Lo THEATRE COMPANY I report to the trustees on my examination of the financial ttatements of The Loft Theatre Company Ithe charity) for the year ended 31 December 2025. Responslbllltles and basls of report A5 the trustees of the charity land a150 its directors for the purpose5 of company lawl, you are responsible for the preparation of the financial statement5 in accordance with the requirements of the Companies Act 2(X)6. Having satisfieil myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Acr 21X)6 and are eligible for independent examination, I report in respett of my examination of the charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying Out my examination I have followed the Dirertions given by the Charity Commission under section 14SlSllbl of the Charities Act 2011. Independent examlner's statement I have completed my examination. I confirm that no matters have come to my attention in connectlon wlth the exam5natlon giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by Section 386 of the Companies Act 2(KJ6. the financial statements do not accord with those records,. or the financial statements do not comply with the èccovntin8 requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination,. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charitie5 preparing their financial statement5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other rnatters in connection with the exarnination to which attention should be drawn in this report in order to enable a proper understanding of the financial staternent5 to be reached. Wende Hubbard FCCA Burgis & Bullock 23-25 Waterloo Place Leamington Spa Warwickshire CV32 SLA 09 Jul 2026 Dated..
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THE LOFf THEATRE COMPANY BALANCE SHE ASAT31 DECEMBER 2025 2025 2024 Notes Flxed assets Tangible assets Investments 15 131,997 638,095 137,484 602,727 16 770,092 740,211 Current assets Stocks Debtors Cash at bank and in hand 17 2.395 24,654 99,791 2,500 17,377 126,724 19 126,840 146,601 Credltors: amounts fa115ng due wlthSn one year 142.0801 125.6431 Net current assets 84,760 120,958 Total assets less current Ilabllltles 854,852 861,169 The funds of the charbty Unrestricted funds- general Unrestricted funds- Investment Unrestricted Capital 84,760 638,095 131,997 120,958 602,727 137,484 23 854,8S2 861,169 10-
THE LOFf THEATRE COMPANY BALANCE SHE ICONTINUEDI ASAT31 DECEMBER 2025 The company is entitled to the exemption from the audit requirement contained in sertion 477 of the Companies Att 26, for the year ended 31 December 2025. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476. These financial statements have been prepared in accordance with the provisions applicable to companies sublect to the small companies regime. 09 Jul 2026 The financial statements were approved by the trustees ¢)n . Mrj Synge Trustee Company registration number 06940032 (England and Wales)
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmEr5 FOR THE YEAR EJ¥DED 31 DECEMBER 2025 A¢¢ountlng poll¢les Charlty Informatlon The Loft Theatre Company is a private charitable company limited by guarantee incorporated in England and Wales. The re8i5tered office 15 Victoria Colonade, Leamin8ton Spa, CV313AA. 1.1 A¢¢ountln8 <onventlort The financial statement5 have been prepared in accordance with the charity's Memorandum and Article5 of Association, the Companies Act 2CrfJ6 and "Accounting and Reporting by Charitie5.' Statement of Recommended Prartice ISORPI applicable to charitie5 preparin8 their accounts in actordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" (effective from l Janu3ry 20191. The charity is a Public Benefbt Entity as defined by FRS 102. The financial statements are prepared in sterling. which is the function31 currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £. The financial statement5 have been prepared under the historital cost tonvention, modified to include certain financial instruments at fair value. The principal accountin8 polities adopted are set out below. 1.2 Goln8 concern At the time of approving the financial ststements, the trustees have a reasonable expettation that the charity ha5 adequate resource5 to continue in the foreseeable future. Based on the current information available to them the trustees, expertations of the foreseeable future remain the same and thus they continue to adopt the going concern basis of accounting in preparing the financial statements. 1.3 Charltable funds General funds are available for use at the discretion of the trustees in furtherance of their tharitable objectives. 1.4 Incoming resour¢es Income is recognised when the charlty is legally entitled to it after any performance conditions have been met. the amounts can be measured reliably. and it is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unle55 performance conditions require deferral of the amount. Income tax recoverable in relation to Ilonation5 received under Gift Aid is recogni5ed at the time of the donation. Income received in advance of theatrical performance5 or provision of other specified services is deferred until performances are given to which the income refers. Grant income is recognised when the charity is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received. Income of the sales of goods and services is measured at the fair value of the consideration received or receivable in the normal course of business. 12_
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Accountlng pollcles {Contlnuedl 1.5 Resources expended Expenditure is reco8nised once there is a legal or constructive obligation to transfer economit benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement, and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The (t5 of each artivity are made up of the total of direct Costs and shared costs, including SLlPPOrt costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation charges are allocated on the portion of the asset's use. All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to that category. 1.6 Tanglble flxed assets Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. Depreciation is reco8nised so as to write off the cost or valvation of assets less their residual values over their useful lives on the following bases.. Land and buildings Specialist stage equipment Fixtures, fittings & equipment Freehold improvements 2% straight line 25% straight line 15% reducing balance IO% straight line The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset. and is recognised in the statement of financial activities. 1.7 Flxed asset Investments Fixed asset investments are initially measured at transaction price excluding transaction costs, and are subsequently measured at fair value at each reporting date. Changes in fair value are recognised in net incomellexpenditurel for the year. Transaction costs are expensed as incurred. 1.8 Impairmerrt of fixed assets At each reporting end date. the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists. the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss lif any). 13-
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Accountlng pollcles {Contlnuedl 1.9 Stocks Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and. where applicable. direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost. Net reallsable value Is the estimated selling price less all estimated costs of completion and costs to be Incurred in marketing, selling and distribution. 1.10 Cash and cash equlvalents Cash and cash equivalents include cash in hand. deposits held at call wlth banks, other short-term Ilquiil investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowin in current liabilities. 1.11 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Sectlon 12 '0ther Financial Instrument$1ssues' of FRS 102 to 311 of its financial instruments. Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset. with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. Basi¢finon¢iol ossets Basic financial a55et5, which include debtor5 and cash and barbk balantes, are initially measured at transaction price including trarbsaction c05t5 and are subsequently carried at amortised cost Using the effettive interest method unle55 the arrangement constitutes 3 financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. 14_
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Accountlng pollcles {Contlnuedl Bosiclinoncigl li¢7bilities Basic financial liabilitie5. including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financin8 transartion, where the debt instrurnent 15 measured at the present value of the future payment5 discounted at a market rate of interest. Financial liabilitie5 classified as payable within one year are not amortised. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Trade creditors are obligations to pay fof goods or services that have been acquired In the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are reco8nised initially at transartion price and subsequently measured at amortised cost using the effective interest method. Derecoqnltlon oAllnonclulllabllltle5 Financial liabilities are derecognised when the chariws contractual obligation5 expire or are discharged or cancelled. 1.12 Employee benefits The cost of any unused holiday entitlement is recognised in the period in which the employee's service5 are received. Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the ernployment of an employee or to provide termination benefits. 1.13 Retirement benefits Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due. In¢ome from donations and le8a¢ies Unrestrlrted Unrestrlcted fund5 funds 2025 2024 Donations and gifts 247 22,591 15-
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Charltsble a¢tlvltles General lunds 2025 General funds 2024 Theatre artivities 121,349 152,278 Income from other tradln8 actlvltles General lunds 2025 General funds 2024 Letting and licensing arrangemenis 260 4,132 Invertments General Investment funds lunds 2025 2025 Total General Investment funds funds 2024 2024 Total 2025 2024 Income from listed investments Interest receivable 16,581 1.675 16.581 5.288 16,357 1.414 77 233 16,434 1,647 3.613 18.256 3.613 21.869 17,771 310 18,081 16-
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Other Income General funds 2025 Gèneral funds 2024 Bar Income Other 35,109 197 40,268 407 35,306 40,675 Expendbture Ralsln8 funds General Investment funds lunds Totsl General Investment funds funds Total 2025 20Z5 2025 2024 2024 2024 Advert15ing Bar and c3terin8 costs Investment management fees 16,892 15,560 16,892 15,560 16,783 17,117 16,783 17,117 2.232 2,232 1,505 1,505 32,452 2,232 34,684 33,900 1,505 35,405 17_
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 Charltsble a¢tlvltles General Gèneral 2025 2024 Charitable activities (including production costs) 126,099 103,197 Share of support costs15ee note 91 Share of governance costs Isee note 91 55.342 4,220 49,513 4,044 185,661 156,754 Support costs Support Governance costs Costs 2025 Support Governance tost5 t05ts 2024 Staff costs Depreciation 34,908 20.434 34,908 20,434 30,820 18,693 30,820 18,693 In¥Jependent exam lees Legal and professional Other 2.080 518 1.622 2,080 518 1,622 2,360 420 1,264 2,360 420 1,264 55,342 4.220 59,562 49,513 4,044 53,SS7 Analysed between Charitsble activities 55,342 4.220 59,562 49,513 4,044 53,557 10 Net movement In funds 2025 2024 The net movement in funds is stated after charging/lcreditingl: Fees payable for the independent examination of the charity's financial statement5 2.360 18,693 Depreciation of owned tangible fixed assets 20,434 18-
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 11 Trust None of the trustees lor any persons connected with them) received any remuneration in the year. Trustees were due to be reimbursed a total of £5.26712024'. £3.0961 with respect to reimbursement of production fees and administrative expenses incurred. and the purchase of capitsl items in the year. 12 Ernployees Number of employees The average monthly number of employees during the year was.. 2025 Number 2024 Number Employment Costs 2025 2024 Wages and salaries Social security costs Pension costs 34,315 14121 1,005 29,986 834 34,908 30,820 There were no employees whose annual remuneration was £60.CrfXI or more. 13 Net galn51llos5e51 on Inveslrnents 2025 2024 Revaluation of investments 34,997 46,028 14 Taxation The charity 15 exempt from taxation on its artivitie5 because all its income 15 applied for charitable purposes. 19-
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 15 Tanglble fixed assets Freehol e9ullrf &equ4xneTht Impro¥ements Total Cost At I january 2025 Additions 126.428 23.801 8,878 140.106 1,795 98,050 4,274 388,385 14,947 At 31 December 2025 126,428 32,679 141,901 102,324 403,332 Depreciation and impairment At I january 2025 Depreciation charged in the year 42.133 2,529 15.323 4,977 123.453 2,696 69.992 10,232 250.901 20,434 At 31 December 2025 44.662 20,3 126,149 80,224 271,33S Carrylng amount At 31 December 2025 81,766 12,379 15,752 22,100 131,997 At 31 December 2024 84,295 8,478 16,653 28,058 137,484 16 Flxed asset Investments Llsted Investments Cash In portfolio Total Cost or valuatlon At I january 2025 Valuation changes Investment management fees Interest on cash deposits Disposals s99,7 34,997 3,720 11,oioi 12,2321 3,613 634,(X)4 602,727 33,987 12,2321 3,613 1634,(KMI At 31 December 2025 638,095 638,095 Carrylng amount At 31 Decernber 2025 638,095 638,095 At 31 December 2024 599,(X)7 3,720 602,727 -20-
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 16 Flxed asset Investments {Contlnuedl Fixed asset investrnents revalued All listed investments were realised in 2025 and are now held as cash in the portfolio. The historical cost of these investments was £489.881. 17 Stocks 2025 2024 Finished goods and goods for resale 2,395 2,500 18 Debtor5 2025 2024 Amounts falllng due wlthln one year: Trade debtors Other debtors Prepayments and accrued income 980 4,5S8 19,116 883 16,494 24,654 17,377 19 Cash at bank and in hand 2025 2024 Current account Deposit account Petty cash 18,428 80,828 S35 18,035 108,154 535 99,791 126,724 21
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 20 Credltors.. amounts tslllng due wlthln one yeat 2025 2024 Notes Other taxation and social security Deferred income Trade creditors Other creilitors Accruals 361 21 9,794 25,078 1,718 5,490 6,856 8,342 1,700 8,384 42,080 25,643 21 Deferred Income 2025 2024 Deferred income in relation to forward ticket sales 9.794 6,856 Deferred income relates to ticket income received in advance for periods in the following year. A reconciliation of the deferred income balance as follows.. Brought Forward £6,856, Released during the vear £118,438, Invoiced £121,376, Balance Carried Forward £9,794. 22 Retirement benefit schemes 2025 2024 Deflned contrlbutlon schemes Charge to profit or loss in respect of defined contribution schemes I,cKJs 834 The charity operates a defined contribution pension scheme for all qualifyin8 employees. The assets of the scheme are held separately from those of the charity in an independently administered fund. -22_
THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 23 Unrestrlrted funds These are unrestricted funds which are material to the charity's activities. At l January 2025 Incoming Resource5 resources expended Transfers Gains and At31 losses December 2025 General fund5 Investment fund Capital fund 120,958 602.727 137,484 175,418 3.613 218.113 12,2321 6,497 11,oioi 15,4871 84,760 638,095 131,997 34,997 861,169 179,031 220,345 34,997 854,852 Pre¥5ous year: At l January 2024 Incomlng Resource5 resource5 expended Transfers Galns and At31 losses December 2024 General funds Investrnent fund Capital fund 68,790 557.894 142,8S9 237,447 310 190,654 11,5051 5,375 120,958 602,727 137,484 46,028 15,3751 769,543 237,757 192,159 46,028 861,169 -23-
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THE LOFf THEATRE COMPANY NOTES TO THE FINANCIAL ATEmENTs (CONTINUED) FOR THE YEAR EJ¥DED 31 DECEMBER 2025 25 Transfers between funds During the year, 3 transfer of £5,487 was made from capital funds to the general funds to represent the movement in the net book value of its current fixed assets. 26 Events after the reporting date In May 2026, the charity $18ned a contrart with for the replacement of ventilation and air conditioning systems at the Loft Theatre along with re-roofing and other associated works. The value of the tontratt is £458,806 plus VAT. The Base Date for the contratt is 26th July 2026, anil the anticipated Completion Date IS 22nd September 2026. 27 Related party transactlons Expenditure of £3,81612024'. £4.6611 was paid to Frazier Wine Merchants Ltd in the period, a company with which M5 L Frazier 15 a related party. At year end, £nil12024: nil) was outstsnding. -25-