Charity registration number 1136359 (England and Wales)
Company registratlon ffiumber 07240416
THE MONMOUTH SAVOY TRUST
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

THE MONMOUTH SAVOY TRUST
LEGAL AND ADMINISTRATIVE INFORMATION
Trustees
Mr K P M Davies
Ms P Dodd
Ms J Harvey
Ms R Marks
Mr G E McGruer
Mrs R Sinfield
Mrs B P Spence
Charlty number (En9land and Wales) 1136359
Company numb•r
07240416
Registered oftlco
Savoy Theatre
Church Street
Monmouth
Monmoulhshire
United Kingdom
NP25 3BU
Indepondent examiner
BK Plus Limited
6 Manor Park Business Centre
Mackenzie Way
Cheltenham
Gloucestershire
England
GL519TX

THE MONMOUTH SAVOY TRUST
CONTENTS
Page
Truslees, report
Independent examiner's report
Stat8menl of finanaal activities
statement of financial position
Note5 to the financial statements
6-12

THE MONMOUTH SAVOY TRUST
TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR EIVDED 30 SEPTEMBER 2024
The trustees present their annual report and financial statements for the year ended 30 September 2024.
The financial slatemenls have been prepared in accordance with the accounting policies set oul in nole 1 to the
financial slatemenls and comply with the charity's governing document. the Companies Act 2006, FRS 102 "The
Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "Accounting
and Reporting by Charities.. Statement of Recommended Practice applicable to Charities preparing their accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102>"
Objectlves and actlvltles
The Trust's objectives are to manage and maintain the Savoy Theatre ("The Savov,) for the benefit of the town, its
inhabitants and the wider community. This will be achieved by effective day to day management and by making sure
that the programming of the building is as inclusive as possible.
Slgniflcant actlvltles
Cinema - the building is for the most part a cinema, showing a selection of new films geared largdy to the
Monmouth audience demographic. The Savoy also shows Event Cinema, including streams from West
End musicals and worldwide concerts. Cinema audiences have not returned to pr8 Covid levels largely as
result of streaming alternatives and variable quality films.
The Savoy supports a number of live events with community participation including music, comedy arKI
theatre. The Savoy continues to attract Some of the biggest names in popular entertainment. The
profitability of these events continue to cross subsidise the less commercial and more community based
programme of events.The number of live events is growing materially in order lo counteract the less well
performing cinema.
Schools are continuing to use the building, with tours and talks a regular feature as well as film showings.
This has been generously supported with funding Monmouth Town Council with an initiative lo provide free
cinema lickels lo children aged between 5 and 11 years of age.
The building is let out to community groups as often as possible.
Local amateur groups are welcome and links with Off Centre Theatre and Monmouth Music Theatre remain
slrong.
Licensed as a venue for civil ceremonies.
Public beneflt
It remains clear from the support the Savoy has received during the year Ihat il continues lo play a vital role in the
community providing huge public benefit.
Achlevemènts and performance
Golng Concern and the impact of the COVID-19 pandemlc
The Covid-19 pandemic has lett a legacy of generally smaller cinema audiences. This coupled wilh Ihe fact that
some releases go straight lo streaming has meant that we are not seeing the amount of releases enjoyed
historically. We have begun to be approached by film and TV companies for hire purposes for filming.
During the year the Trust received grants totalling £7,500 from Monmouth Town Council (MTC) to meet the cost of
free cinema tickets for the 5-11 age range al schools within the MTC area. The trustees continue to recognise the
amazing generoslty of all Ihose who gave donah'ons in one fom) or another.
The trustees continuously monitor the financial position including projecting ahead on a rolling twelve month basis
identifying the working capital needs of the Trust while conts'nuing to mainlain and improve the facilitie*S.
Flnancial review
Reserves poli¢y
This is the thirteenth year of operating. The Iruslees are aware of best practice lo keep at least three months
running costs in reserve. This equates to about £25,000 per month. This amount and some contingency is still
secure in the Monmouthshire Building Society deposit account.

THE MONMOUTH SAVOY TRUST
TRUSTEES, REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Future plans
This is the thirteenth year of operating. The IfUSt8es are aware of best practice lo keep at 18ast thr88 months
running costs in reserve. This equales to about £25.000 per month. This amount and some contingency is still
secure In the Monmoulhshire Building Society deposil account.
Structure, governance and management
Governlng document
The charity Is controlled by its Memorandum and Artlcles ofAssoclation dated 30 April 2010.
The chailty is c￿nStItUted as a company limited by guarantee and therefore has no share capltal. In lh8 event of Ihe
company being wound up, and the liabilities and winding up expense being in excess of assels. the liability of each
m8mbar is limited lo £1.
Organlsallonal Structure
The current full time employees ar8 Chrls Ryde {Dlrector}. Mike Harrold and Kerl Russell. Clare Webb Is on a 25
hour per week contract and Mark Read has a perrnanenl freelance position as lechnical manager.
Inductlon and tralnlng of now truste88
The trust currenlly has seven trustees. All newly appointed Irustees receive trainlng in their roles and
r8sponsibllilies.
Rlsk management
Flnanclal rlsk
The day to day acllvitles of the Trust are monitored closely with lh8 production of regular management acLounts, so
that the Trustees can be satlsfied that the Trust Gan meet its financial obllgallons.
ststement of Trustees, responslbllltl•s
The trustees, who are also the directors of The Monmouth Savoy Trusl for Ihe purpose of company law, are
responsible for preparing the Trustees. Report and the financial stalem8nts in accordanc8 with applicable law 8nd
Unlted Klngdom Accounllng Standards (United Klngdi>rn Generally Accepted Accountlng Praclicel.
Company law requlres the trustees to prepare financial siatemenls for each financlal year whlch glve a true and falr
vlew of the state of affairs of the charlty and of the Incoming resources and app5ic81ion of r8sources, including the
Income and expendlture. of the charitable Company for thal year,
In preparing these financial statements, the Irustees are required to=
select suilable accounting policles and then apply them consistently.
observe the mathods 8nd principles in the Charitles SORP;
make judgements and estimates that are reasonable and prudent. and
prepare the flnanclal statements on the going concern basis unless It is Inapproprfate to presume that the charlty
will continue in operation.
The trustees are responslble for keeping adequate accounting records that disclose with reasonable 8ccuracy at
any tim8 Ihe financial position of the charity and enable Ihem lo ensure that the financial slalements comply with Ihe
Companies Act 2006. They are also responsible for safeguarding the assets of the charlty and hence for taklng
reesonable steps for the prevention and detection of fraud and other irregulariti&s.
The truste6s' report was approved by the Board of Trustees.
EMCG
Trustee

THE MONMOUTH SAVOY TRUST
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE MONMOUTH SAVOY TRUST
I report to the Iruslees on my examination ol the financial statements of The Monmouth Savoy Trust (the charity) for
the year ended 30 September 2024.
Responsibilltles and basis of report
As the Iruslees of the charity (and also its directors for the purposes of company lawl, you are responsible for the
preparation of the financial statements in accordance with the requirements of the Companies Act 2006.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 01
the Companies Act 2006 and are eligible for independent examination, I report in respecl of my examination of the
charity's financial statements carried out under section 145 of the Charities Act 2011. In carrying OLtt my examination
I have followed the Directions given by the Charity Commission under section 145{5)(b) of the Charities Act 2011.
Indapondent examiner's statement
Since the charity's gross income exceeded £250,000, the independent exaTniner must be a member of a body listed
In section 145 of the Charities Act 2011. 1 confirm that l am qualified to undertake the examinatiDn because l am a
member of the Inslilute of Chartered Accountants in England and Wales, which is one ofthe listed bodles.
I have completed my examination. I confirm thal no matters have come to my attention in connection with the
examination giving me cause lo believe that in any material respect.
accounting records were not kept in respect of the charity as required by secllon 386 of the Companies Act
2006.
the financial statements do not accord with those records., or
the financial statements do not comply with the accounting requirements of section 396 of the Companles Act
2006 other than any requirement that the financial stalements 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 lor accounting and reporting by charities applicable lo charities
preparing Iheir financial stalemenls in accordance with the Financial Reporting Standard applicable in the UK
and Republic of Ireland (FRS 102).
I have no concerns and have come across no other matters in connection with the examination to which attention
should be drawn in this report in order lo enable a proper understanding of the financial slalemenls to be reached.
Roger Downes
BK Plus Limited
6 Manor Park Business Cenlre
Mackenzie Way
Chellenham
Gloucestershire
GL519TX
England
Date..

THE MONMOUTH SAVOY TRUST
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR EJVDED 30 SEPTEMBER 2024
Unrestrict Restricted
Total Unrestrict Restrlcted
Total
funds
2024
funds
2024
funds
2023
funds
2023
2024
2023
Notes
Income from:
Donations and legacies
Charitable activities
Other trading activities
Investments
8,405
372.791
98,664
2,349
8,405
387,791
98,664
2,349
8,526
326,487
90,664
659
8,528
333,987
90,664
659
15,000
7,500
Total Income
482,209
15,000
497,209
426,336
7,500
433,836
Expendlturo on:
Raising funds
Charitable activities
37,477
472,308
37.477
496,270
33,284
400,679
33,284
423,879
23,962
23,200
Total expendltur•
509,785
23,962
533,747
433,963
23,200
457,163
Nat expenditure and
movement In funds
(27,576)
(8,962)
(38,538)
(7,627)
(15,700>
(23,3271
Re¢onclllation of funds:
Fund balances at 1 October
2023
139,069
74.100
213,169
146,696
89,800
236,496
Fund balances at 30
September 2024
111,493
65,138
176,631
139,089
74,100
213,169

THE MONMOUTH SAVOY TRUST
STATEMENT OF FINANCIAL POSITION
AS A T 30 SEPTEMBER 2024
2024
2023
Not•s
Flxed assets
Tangible asset8
11
34,353
62,285
Current assets
Debtors
Cash at bank and in hand
12
7,489
262,296
6,194
280,778
269,785
286,972
Credltors: amounts falllng due
wlthln one year
13
(127,507)
(136,088)
Net current ••sels
142,278
150,884
Total ass•ts less eurr•nt Ilabllltl•s
176,631
213,169
The funds of tho charlty
Restricted income funds
Unrestricted fund8
14
15
85,138
111,493
74,100
139,069
176,631
213,169
The company is entitled lo the exemption from the audit requirement contained in section 477 of lh8 Companies Act
20GE, for the year ended 30 September 2024.
The directors acknowledge their re8pon8ibilities for complying with the requirements of the Companles Act 2006
with respect to accounting records and the preparation of finanrial stalements.
The members have not fequired the company to oblain an audit of its financtal sialemenls for the year in question in
accordance with section 476.
These financial slatemenls have been prepared in accordance with the provision8 appllcable to companies sublect
to the small companies regime.
The financ4al statements were approvBd by the trustees on .
rGEM
Trustee
er
Company registration number 07240416 (England and Wales)

THE MONMOUTH SAVOY TRUST
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR EIVDED 30 SEPTEMBER 2024
A¢¢ountlng policies
Charlty Informatlon
The Monmouth Savoy Trust is a private company limited by guarantee incorporated in England and Wales.
The registered office is Savoy Theatre, Church Street, Monmouth, Monmouthshire, NP25 3BU, United
Kingdom.
1.1 Accounting conventlon
The financial statements have been prepared in accordance with the charity's governing document, the
Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol
Ireland" and the Chaiilies SORP "Accounting and Reporting by Charities. Statement of Recommended
Practice applicable lo charities preparing their accounts in accordance wilh the Financial Reporting Standard
applicable in the UK and Republic of Ireland (FRS 102)" The charity is a Public 8enefit Entity as defined by
FRS 102.
The financial statements are prepared in sterling. which is the functional currency of the charity. Monetary
amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convenlion. The principal accounting
policies adopted are sel out below.
1.2 Charltablo funds
Unrestricted funds can be used in accordance with the charitable objectives al the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within Ihe objects of the charity.
Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial
stalemenls.
1.3 Income
All income is recognised in the Slalemenl of Financial Activities once the charity has enlillem8nt lo the fund5,
it is probable that the income will be received and the amount can be measured reliably.
1.4 Expendlture
Liabilities are recognised as expendilure as soon as there is a legal or constructive obligation commilling the
charity lo that expenditure, it is probable that a Iransfer of economic benefils will be required in selllemenl and
the amount of the obligation can be measured reliably. Expenditure is accounled for on an accruals basis and
has been classified under headings that aggregate all cost related to the category. Vvhere c051s eannot be
directly allribuled to particular headings they have been allocaled to activities on a basis consistenl with the
use of resources.
1.5 Tanglble tixed assets
Tangible fixed assets are initially measured at C05t and subsequently measured al cosl or valualion, net of
depreciation and any impairmenl losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual value5 over their
useful lives on the following bases..
Leasehold improvements
Plant and equipment
over 6 years
25Vo on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds
and Ihe carrying value of the asset, and is recognised in the statement of financial aclivilies.

THE MONMOUTH SAVOY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Accounting policies
(Contlnugd)
1.6 Leases
Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line
basis over the period of the lease.
Income from donations and legaci•s
Unr•5trlct•d
funds
2024
Unrestrlctèd
funds
2023
Donations
Gift aid
6,841
1,564
7,840
666
8,405
8,526
Income from charltablo activlties
Unr•8trlcted ReAtrlcted
funds
funds
2024
Total Unre5trfcted R•gtrlct•d
funds
funds
2023
2023
Total
2024
2024
2023
Cinema sales
Theatre hire
Theatre sales
Grants
70,284
30,214
272,293
70,284
30,214
272,293
15,000
74,931
23,533
228,023
74,931
23,533
228.023
7,500
15,000
7,500
372.791
15,000
387,791
326.487
7.500
333,987
Giants analysls
2024
2023
Monmouth Town Council
15,000
7,500

THE MONMOUTH SAVOY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Income from other trading actlvltles
Unrestrlctgd Unr•st¥lct•d
funds
funds
2024
2023
Sales of purchased goods
Bar sales
Other income
Advertising income
44,427
47,673
3,348
3,216
38,509
45,589
2,078
4,488
other trading activities
98,664
90,664
Income from investments
Unroslylcted Unrestrlcted
fund8
2024
funds
2023
Interest receivable
2,349
659
Expendlture on raising funds
Unr•strlcted Unrestrlctgd
funds
funds
2024
2023
Fundralslng and publiclty
Purchases
Bar purch8ses
8,851
28,826
8.811
24,473
37,477
33,284

THE MONMOUTH SAVOY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
Expendlture on charltable activities
Heading
#a¢982
2024
Heading
#ac982
2023
Direct costs
staff training
Bookkeeping and administration costs
Irrecoverable VAT
Accountancy
Depreciation and impairment
Staff costs
Hlre of planl and machinery
Rent
Rates and water
Insurance
Light and heal
Advertising
Sundries
Theatre artists
Cinema production costs
Repairs and mainlenance
Telephone
Printing, postage and stationery
Licences
Credit card charges
160
790
25,415
1,675
28,117
91,179
678
20,000
4,010
6,196
9,112
7,993
891
142,162
57,674
13,375
2,503
979
3,218
7,752
640
35,168
1,630
28,122
105,476
724
20,000
3,479
6,924
15,089
8,788
570
174,800
58,875
17,583
3,630
750
3,386
10,636
496,270
423,879
Analysis by fund
Unrestricted funds
Reslricled funds
472,308
23,962
400,679
23,200
496,270
423,879
Trustees
None of the trustees (or any persons connected with them) received any remuneration or benefits from the
charity during the year.
Trustees. expenses
One trustee was reimbursed £183 (2023.. £261) in the year.

THE MONMOUTH SAVOY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR EAIDED 30 SEPTEMBER 2024
Employees
The average monthly number of employees during the year was:
2024
Number
2023
Number
Theatre slaff
There were no employees whose annual remuneration was more than £60,000.
10 Taxatlon
As a recognised charily, The Monmouth Savoy Trust is exempt from Corporation Tax so far as it relates to its
charitable objects. It is not, however, exempt from VAT, and irrecoverable VAT is included as a separate item
of expense in the financial statements.
11 TangSble fixed assets
Leasehold
Plant and
Improvom•nt oqulpmont
Total
Cost
At 1 October 2023
108,645
46,122
154,767
At 30 September 2024
108,645
46,122
154,767
Doprociation and impalrment
At 1 October 2023
Depreciation charged in the year
71,881
18,372
20,601
9,560
92,482
27,932
AI 30 September 2024
90,253
30,181
120,414
Carrying amount
At 30 September 2024
18,392
15,981
34,353
At 30 September 2023
36,764
25,521
62,285
The costs of the refurbishment of the toilet block that were incurred in the year lo 30 September 2019 are
being amortised with effect from 1 October 2019 over the ￿mainIng period of the current lease.
The costs of the slgnificant renewal of the stage lighting that were incurred in Ihe year lo 30 September 2020
are being amortised with effect from 1 October 2020 over the remaining peiiod of the Cltrrenl lease.
10-

THE MONMOUTH SAVOY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
12 Debtors
2024
2023
Amounts falling due within one year:
Trade debtors
Prepayments and accrued income
(237)
7,726
75
6,119
7,489
6,194
13 Credltors: amounts falling due within one year
2024
2023
Other taxation and social security
Trade creditors
Accruals and deferred income
5,598
8.4e8
113,441
6.358
10,320
119,410
127,507
136,088
14 Restrlctad funds
The restricted funds of the charity comprise the unexpended balances of donations and grants held on Irusl
subject to specific conditions by donors as lo how they may be used.
At1
October
2023
Incoming Resources
At30
resources
expended September
2024
Toilet refurbishment
Theatre electrics
Monmouth Town Council free cinema seats
40,817
5,229
28,054
{17,352)
(1,808)
(4,802>
23,465
3,421
38,252
15,000
74,100
15,000
(23,962)
65,138
Previou5 year:
At1
October
2022
Incoming Re50urGe5
At30
resources
expended September
2023
Toilet refurbishment
Theatre electrics
Monmouth Town Council free Ginema seats
58,169
7.031
24,600
(17,352)
{1,802)
{4,046)
40,817
5,229
28,054
7.500
89,800
7.500
{23,200)
74,100
11

THE MONMOUTH SAVOY TRUST
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
14 Restrl¢t•d funds
(Contlnued)
Purpose of Restricted Funds
Tollet refurb15hment
The purpose of the restricted fund is to build a new toilet block extension on the side of the theatre to
accommodate new ladies and disabled facilities on the ground floor and to refurbish the current male facilities.
The building costs have been capilalised.. deprecation will be charged against this fund over the remainder of
the period of the current lease.
Theatre electrlcs
The purpose of the restricted fund is to renew the stage lighting. The majority of the costs of the work have
been capitalised,. deprecation will be charged against this fund over the remainder of the period of Ihe current
lease.
Monmouth Town Council for Iroo cinema seats
One free seal per month to any film for three years for Monmouth primary school puplls.
15 Unrestrlct•d funds
The unrestricted funds of the charity comprise the unexpended balances of donalions and grants which are
not subject to specific conditions by donors and grantors as to how they may be used. These include
designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
At1
October
2023
Incoming Resources
At30
resources
expended Septomber
2024
General funds
139,069
482,209
(509,785)
111,493
Previous year:
At1
Incoming Resources
At30
October resource5
expended September
2022
2023
General funds
146,696
426,336
I433,￿3}
139,069
16 Related party transactlons
There were no disclosable related party transactions during the year (2023 - none).
12-