Company number. 07091161 Charity number.. l 137223 The Park Theatre Report and financial statements For the year ended 31 March 2025
The Park Theatre Contents Reference and administrative information Chair s Report Trustees. AnnLial Report Independent Auditors. Report Consolidated Statement of Financial Aciiviiies Balance Sheets Consolidated Statement of Cash Flows.............. Notes to the financial staternenis .26 .27 .29
The Park Theaire Reference and administralive information Trustees Trustees. h0 are also directors under company law, who Served during the year and up 10 the date of Ihis report ere as follows.. Anthony Clare Ichairl Ibukun Alamutu Professor Kurt Barling Hedda Beeby Jonathan Edwards tvice chaiij Kathleen Heycock Jacqueline Hurt lappointed 13 Septernber 20241 Pia Richards Clixknei (appointed 13 5epiember 20241 Joseph Smith Julia Tyrrell Key management personnel Jez Bond. Artistic Direcior & Joint CEO Catherine McKinnev, Executive Director & Joini CEO Founding Benefactor Jeremy Bond (1939-2020)
The Park Theatre Reference and administrative information Registered information Registered Charity name The Park Theatre (a150 known a5 Park Theatre) Company number 07091161 incorporated in the Uniied Kingdom Chariiy number 1137223 registered in England and Wales Registered office and operational addre55 11-13 Clifton Terrace Finsbury Park London N4 3JP Professional advisors Bankers CAF Bank Charities Aid Foundation 25 Kings Hill Avenue King5 Hill West Malling Kent MEI 9 4JQ Auditors Wenn Townsend 30 Si Giles Oxford OXI 3LE
The Park Theatre Chair's Report park Theatre began the. year with a rhird outing for Ihe wonderful whodunnir [Unrehe3rsedl - the hilarious murder myslery fundTaiser written by Artistic Director Jez Bond and Mark camp.ron and admirably delivered by a company of actors joined each night by a different famous face in the role Df the inspecior. This time sei on a luxury sleeper train in western Europe in the 1930s, the concept Stood up jLJ5t as 'ell as previous Iterations and delivered on all fronls. More than I 1.000 people came to watch a performance, generating a surplus of over £500.000 at the box office. and £60.OOU in auction bids, memberships, donation5 and gift aid. Of rhis audience. 42% waiched a Park Theatre show for the first lime. This biennial production fulfils Ihe financial functions of a regional theatre pantomime, generating a Surplus that now underpins core operational cosis for up to two years. and return5 in Spring 2026. The financial contribution of the Whodunnit serie5 also enable5 Park Theatre to continue its commitments to creative engagement, acce55ibility and producing more work in house, and this summer we were able to present two very strong pieces of new wilting, both UK premieres. The Marilyn Conspiracywas a thrilling take on the hours after the Icon's death in 1962 and the personal pressures and conspiracies at play in her complex existence. In contrast When ir Happens 10 You wa5 a contemporary piece. iaking audiences through the aftermaih of a sexual assault on a young woman In New York, as told by her mother. Sen51tively difected by Jez Bond, and with Amanda Abbington in the lead. this show gave audiences plenty to think about. We parinered wilh industry leaders Applause for Thought to creaie a framework of support for everyone working on Ihe produclion, including our front of house staff and voluntecr5, and were proud to join forces wilh Women's Aid to raise wider awareness and funds for their important work tackling violence against women and girls. These three productions illustrate the breadth of programming that Park Theatre 15 now offering to audie.nces year-rovnd and sit within Ihe wider offering across Ihe Park200 and Paik90 spaces. Further notable highlights were Farewell Misier Haflmann. which has rur) in Par15 for Several year5 and The ForsFte $3ga Parts 1 & 2. a new adapiation of the John Galsworthy novel presented in two part5 played in rep by an astonishingly talented cast and produced by Troupe Produciions. The Forsyte 5ag3 Iransfers to the Royal Shakespeare Company's Swan Theatre in Stratford i n Novcmber 202 5. and we could not be prouder of our paTiners at Troupe, and our role in this show'5 success. We coniinue to build on our reputation as a producer of and home for exceptional new work and will be focu55ing on our taleni development remit to support this ambition oveT the coming year. The las1 12 monih5 have also seen our programme grow further be.yond our core theatre Dffer, complemenied by a refreshed audiencL' development strategy. and with a new bespoke website. We aro vlelcoming more new audiences to Park Theatre than ever. On average. 45% of each audience are first-time visltors,. more than 4,000 people visited us for comedy shows and 2,000 for family work. This diversification Is bv design and necessity, recognising that theaires need to maintain valuable relalionships with exiSling attendee5 a5 well as attract new audience5 10 remain viable. In the current financial climate. where contribuied income Is harder to secure than ever, a proaciive and dynamic approach to earned income Is essential. This is even more pertinenl when working
The Park Theatre Chair's Report wirhin the financial and capacity limitations of our thealre spaces. We are grateful to everyone who has supported Park Theatre financially in the past year. and to the entiie siaff team for supporting the increase In programmed 'extra-curricular' activity. and ernbracing the new challenges it ha5 presenied with humour and good grace. Embodied in our mi55ion and vision Is Ihe aim to enrich lives, build confidence and self-esteem. tackle healih inequalities and social exclusion and io reinforce the Importance of individuality and 5elf-expression through culture and creativity. Our work in the creative health field has gained further momentum in the past 12 monihs: having been recognised a5 a Dementia Friendly Venue by the GLA in late 2023, we were presented with a similar award by the North Central London Integrated Health Board in early 2024, nominated by partners in both Islington and Haringey local authorities. We have developed new partnerships wilh health service providers and reached more participant5 outside our building and are excited to see how this ¥vork will 9row. especially a5 we develop new Strands of activity with research partners at UCL in the field of 'ageing playfully,. We welcomed two new trustee5 in the year- experienced entertainment and media lawyerjacqueline Hurl. and Pia Richard5 Glockner was recruited from Ihe Park Theatre Youth Board to represent this group at board level. and we are grateful for their ongoing commiiment io the organisation. At Park Theatre it is imperative that we engage in meaningful dialogue 1th our comrnunily and participatory stakeholders at all level5 Of our governance structure. To Ihis end we also recruited seven new Youth Board members from myriad different backgrounds. many of whom are local to the iheatre and incredibly passionate about coniribuiing to our role in and impact on ihe local community. We are really enjoying having them on the team. The core staff ieam has gr4)wn in (he past year with new roles created in the box office. marketing and finance teams. and some turnover as people move on to new oppoitunilies, Whilsi sad to see them go, we are con515tently proud 10 be an employer that grows and develops exceptional employees whose skills and expertise are highly valued by other organisation5. Alongside our ever- loyal cohort of volunieers, Ihey ensure that Park Theatre coniinues lo be the warm and welcoming communily I eaire it was envisioned to be. Anthony Clare Chair of Trustees
The Park Theatre TILlStees' Annual Report For the year ended 31 March 2025 The trustees present their report and the audited financial 5taiements for the year ended 31 March 2025. Reference and administrative information set oui on page5 1 and 2 forrns part of this report. The financial siatements comply w'ith current statutory requirements. the article5 of asSOC1ation and Ihe Statement of Recommended Practice Accounting and Reporting by Charities. SORP applicable to charities preparing Iheir accounts In accordance with FRS 102. This report looks at whar the charity has achieved and the outcomes of lis work in the reporting period. The trustees report the Success of each key activity and the benefits Ihe charity has broughi to those group5 of people that it is sei up to serve. The review also helps the Irustees ensure the charity s aciivities remained focused on ils slated objectives. Park Theaire's L'ision & Mi%%ion Our vision is io be a neighbourhood theatre with a global ambition. Our Mission is to- Give you access to intimaie, honest Iheaire that enteriains and provokes. Nurture creativity and host some of the biggest names of sta9e and Screen. Welcome you in. Objeciives .IiiJ ¢i-, I Park Theatre's charitable objectives are to promote, maintain. improve and advance education of the public in the arts. Our principal objective is to preseni high-quality, affordable drama for everyone - and. through the work on stage, our creative engagement programmes and ihe provision of a welcoming neighbourhood hub, to provide creaiive opportunilies. enhance lives and increase community cohesion. We aspire to presenl woild-class theatre produclions, collaborating with top-qualiiy talent, programming a wide variety of play5. from classics through to new wilting, distinguished by strong narratives and powerful emotional content. We produce. both in-house and In partnprshiQ Wlth the best of existing and emerging producers, for whom we endeavour to provide an oulSt3nding level of support. By creating a welcome and nurturing environmeni. we want Park Theatre to be accessible io everyone within our diverse community and beyond and. through affordable tickei pricing and participatory programmes. we aim to engage with those who have litile or no experience of theatre. Park Theatre has four key activities which generate income andlor deliver benefil to our beneficiaries..
The Park Theatre Trusiees, Annual Report For the year ended 31 March 2025 External productions.. these deliver a weekly rental income. Park Theatre receive5 3 fee from the producer. who rents our audiiorium for a Iheatre production along with certain support services. The producer takes the box office ticketing income. less fees. In-house and co-productions.. Park Theatre provides some orall of the funds needed io deliver a production arbd receives some or all of Ihe box office ticket income that is generated. Creative engagement activiry and talent development: these are classes, workshops, summer schoo15 and other initiatives provided by Park Theatre, which are eithei free io pariicipate or charged for. usually ai a subsidised rate. Provislon of space= Park Theatre rents out irs faciliiies for rehearsals, workshops, meetings and events, sometimes at preferential rates for artists and local community groups. These activities cannot be supported entirely by the income they produce, 50 we subsidise them through a 5Uite of fundraising programmes and initiatives. We measure the impact and success of these aciiviiies as follows.. External produrtions.. Fiftancially. by measuring how far we achieve rental income for the theatre and other ancillarv income linked to shows across Ihe year. and how far box office Income is likely to have enabled the producer at least to recoup costs. Artistically. by monitoring ticket sales through box office data. critlC5' reviews and oiher press comment, social media aciivity and the fuiure life of the production outside the building (for example. on tour or with a transfer to the West End). In-house and co-productions.. Financially. by Measuring iickei income through box office data, third party investment and assessing the extent to which each production generates a surplus or loss, taking account of rent foregone. Ariistically. by monitoring tickei sales through box office data, critics. reviews and other press comment, social media activity and the fuiure life of Ihe produciion outside the building (for example on tour or with a transfer to the West End). In line with our Business Plan. we are looking to produce or co-produce more of the work presented. in order IhaE we can more direcrly influence Ihe artislic oualiiv. Creative engagement and talent development: Financially, by measuring income received and the extent to which it mepts the cosi of Ihe activities undertaken. We are taking steps io measure more accurately the impact of our creative engagement programmes. which in turn should help secure more funding and mean that we can work more effectively with participants. Assessing impact. quaniiiively by measuring Ihe number and demographic of p3rticipanis and through feedback forms. and qualiiaiively by gathering Informaiion on changes in mood, growth of skills. increase in confidence. for example.
The Park Theatre Trustees, Annual Report For ihe year ended 31 March 2025 Provision of 5pace- By measuring incotne received. the extent of subsidy offered and which companies thi5 Subsidy 15 offered to as related to rhe aims staled in our Business Plan. partiCLAlarly regarding our ambition to support a diverse range of productions, artists and creatives. -, b.evprnpp.i£ .afjfl. n•rfnrry4nrp In the Financial year ende.d 31 March 2025. Park Theatre welcomed over 82,000 audience members to the theatre. generating over £2.4rn in ticket sales. We presented nine theatre productions in Park200 and 15 in Park90, as well as comedy and family shows in the daytime. Sunday or late-night slots. 38% Df audiences for Park200 shows were visiting us for the first time, and 45% In Park90. Our average ticket price across both spaces remained under £30. Our first in-house produclion of the year was Whodunnirlunrehearsedj 3- Ihe third outing for our murder mystery fundraiser with a different famous face playing the part of the inspector for each of the 49 performances. Celebrities includin9 Gillian Anderson, Sanjeev Bhaskar. Damian Lewis. Anneka Rice, Dara O'Briain, Asim Choudhury and others took on the role of the Inspector. with the_ir lines fed live through a discrete earpiece, to the delight of audiences. More than I 1,000 people attended during the run, which included Tuesday matinees added to meei demand. This biennial event has become a highlight of the Park Theatre programme and an essential financial tool for the ongoing sustainability of the theatre's busine55 model, generaiing a surplus (Ihis time, £528k after cos15 with a further £60k in donations and gift aid) thai underpins Ihe rest of the organisation's outpul and impact for up to two years, and enabled the charity to post a surplus this year. It Is worth noting here that whilsi Whodunnil was successful In financial terms. generally our margins have reduced fiom w'hat they were before the COVID pandemic due to increasing costs associated with producing new work on stage. The fv1<7rilyn Conspiracy was a co-production with Theatre Tours International, written and directed by Guy Masterson and starring Genevieve Gaunt in the title role. Audiences loved immersing themselves in the stvli5h world of the production and debating the minute-by-minute interpretaiion of the hours after Marilyn died. li was followed by When ir Happen5 fo You. a theatrical memoir by US novelist Tawni O'Dell and direLled by Jez Bond. The production was a sen51tive portrayal of real- life trauma - a mother navigating the aftermath of a sexual assault on her daughter. As Ihea¢re producers we were conscious of our duty of care to ensure the safety and wellbeing of evp.ryone working on and seeing the production. We partnered with industry leadeis Applause for Thought to provide a support framework and joined up with Women's Aid 10 raise awareness and funds as a way for audience5 to help directly in the fight againsi violence towards women and girl5. We have a150 worked with several exceptional producers and general manager5 on visiting productions ihis year including Aria Enrertainmeni. Troupe Productions and Adarn Blanshay Production5 bringing excitin9 new talent to our stages. The programme in Park200 included four new writing world premieres. three UK premieres and two sold out transfers from regional venues. At the end of the year, we can count one confirmed Iransfer to the RSC (The Forsyre Sag3 Parts 1 a and two more aciive conversations about future life beyond Park Theatre. Additionally, following a successful transfer to Riverside Studios in September, we continue to see our 2024 production of
The Park Theatre Trustees, Annual Report For the year ended 31 March 2025 Kim s Convenience reaching audiences outside London as il tours regionally, and our 2017 production of Madame Rubinstein continues to play monthly in Prague. The reach of our theatre produciions now sireiches well beyond our north London locality. Our growing comedy programme continues to ijeliver an alternative offei for audiences, including work specifically for children and families. and has generated more than £80,000 in tickei sales across 12 months. We have hosted mixed bill nights. work in progress scratch performance5 and fully formed touring shows and are CLJltivating a solid repuiaiion as a great venue for comedians to play. Audience5 nalurally favour faces they recognise but are increasingly happy to Irusl our programming choices and lake a chance on a less well-known name. We intend to continue this work over the forthcoming year a5 a vital revenue siream Ihat generaies valuable unrestricted funds and atlracls new audiences who may not access the core theatre programme. A summary of the theatre shows Presented In Park200 berween April 2024 and March 2025-. Wlpodunnit [Unrehearsedl 3 90% financial capacity (in-house produciion) Fundraising production not reviewed A Song ofsongs 28A financial capaciry Ivisitsng production) 'IrreslStible score and an impas510ned performance. The Stage The Marilyn Con5pirary 57% financial capacity (co-production, staged in the round - 71 % If staged in thrust)
adroiily construcied Ihriller, The Times When it Happens ro You 50% financial capacity lin-house production) this heari-wrenching play grips audiences from start to finish, The Sun 23.5 Hours 25% financial capacity (visiting production) **** 4 Precisely directed by Katharine Farmer and sensitively written by American playwright Carey Cririi. Ihis Ihorny drama examines issues of grooming The Stage The Forsyte Saga Parts l & 2 780A financial capacity Ivisiting production)
A firsi-raEe production, The Guardian Cyrano 660A financial capacity Ivisiting production)
Told with buckets of goodwill by the six-strong company, the show is a mighty hooi, whaisonsrage The Gift 510A financial capacity (visiting production) * I Thss is one of those rare gems of a production where every piece falls into place to create magic, Theaire and Tonic Farewell Mister Haffmann 95% financial capacity (vislting production)
The Park Theatre Trustees, AnnLAal Reporl For the year ended 31 March 2025 **** I production is packed full of surprise5. will keep you on the edge of your seat, Radio Times The programme in OLJr Park90 studio encapsulated a huge variety of new work over the year, and we are exceptionally pleased to have pre5enied a full year of activity. which has noi always been the case in recent times. More often than not, Visiting companies are Still reliant on funding from Arts Council England and other sources to make their projects financially viable. and so we coniinue 10 do all we can to suppori them in this. Taleni development is an important aspect of our art15tic prograrnme and future planning and we are proud to have facilitated a number of emerging practitioners to realise their ambitions in Park90 this year. We have presented three one-woman shows Sun Sear and The Lighrhou5e were a well-rnatched double bil l at ihe starr of Ihe year. followed by Edinburgh Fringe favourite Ajgorithms. We welcomed back Park90 regulars Lidless Theatre with their stylish reinterpreiation of MISS Julie. Seasonal Productions, stunning adaptation of Ali Smith's seminal novel Auturnn was thoroughly enjoyed bv audiences. as was Greenwich Theatre's One Day When We Were Young. We ¥liere delighted to Work wilh local charity Makhani. who work with women seeking sanctuary to overcome irauma in Lebanon and the UK, to present their devised piece l am Ly515frata, Inspired by Ihe Greek story, and with Company Three who presented Grow Up, created and perforrned by local teenagers. 05tan, a piece which offered audiences a glimpse into human exploiiation and traffickinq against rhe backdrop of a London carwash, was captioned in four languages to Increase accessibility for different community groups. and Anti.qone on Strike brought audiences closer to the nairaiive by offering them Ihe chance to vote on the direction the piece look at various points. Park90's flexibility ensures that il 15 a popular and well-suited space for telling rhe5e kinds of stories. We saw two shows excel in financial terms in Parkgo Ihis year- producer Clive Brill reiurned to Park Theatre with a transfer of Betie & Joan from Frinton Summer Theatre. which siarred Greia Scacchi and Feliclty Dean. and sold to 95% financial capacity and extended Ils run by two weeks over Christmas due 10 demand. Similarly. comedian Ivts Graham. who had developed h1s first theatre show Carousel with us in summer 2024. returned for a sell-out three weeks in early 2025. A more proactive and dynamic approach to programming in this space allows US to maximise the reiurn when a production lands with audiences. A summary of the Ihcatre shows presented in Park90 between April 2024 and March 202 5,. rhe Lighrhou5e 360A financial capacitv 'an important. impaciful and outsianding play, Theatre Weekly Sun Bear 32% financial capacity 'A darkly funny insight into the impact of abusive relaiionships, Everything Theaire Algorithms 3 7% financial capacity 'This year's Fleabag, Deadline News Cold Water
The Park Theatre Trusiees, Annual Report For the year ended 31 March 2025 24% financial capacily 'Evocaiive yel sensilive and believable. All Thai Dazzles sniff 30% financial capaiity 'An excelleni theairical experience, Theaire and Tonic Mi55 Julie 49% financial capacity 'A heart-rending performance, Reviews Hub Makhani." l am Lysisfrata 98% financial capacity Company Three.. Grow Up 850A financial capacity / Love You, Now Whaf? 43% financial capacity 'a powerful, (Jeeply moving script that 15 elevated here by the magnefiSTn of it5 rhree performers, All That Dazzles 8itter Lemons 37% financial capacity 'Compelling and insightful. LondonTheatrel 05tan 61 A financial capaciiy 'Winningly funny and humanly devastating All That Dazzles Autuffln 67% financial capacity 'delightful from start to finish, Fairypowered Going for Gold 4 7% financial capacity 'An assured. balanced and nuanced play, well-researched and well-performed, LondonTheare I 6ette &Jvan 95% financial capacity 'Brutal and brilliant portrait. The Spectator Ivo Graham." Carousel 80% financial capacity 'Magnificent. an ode to humanity, Everything Theatre Antigone on Strike 7 5°A f i na ncial capac ity 'a bold play ihat challenges Its audience and leaves us questioning the performance of democracy, The Stage One Day When We Were Young 60% financial capacity 'a mini marvel with a Poignant punch, Arts Desk io
The Park Theatre TrustÈes' Annual Report For ihe year ended 31 March 2025 Accessibiliiy has remained a point of focus in our programming and audience experience activity we presented 42 inclusive performances in the year, Nvith 2.200 access tickets bought and used across the following. I l Audio Described performances. enhancing accessibility for pairons With visual impairments 21 Captioned performances, broadening access using surtitles for people wirh hearing impairment5 or where English may not be a first1angLJage 6 Relaxed performances. for audiences with sensory sensitivities or learning disabilities l Dementia Friendly performance, offering a step towards a fully relaxe(l atmosphere 3 Briiish Sign Language IBSL) performances. enabling 8SL users to enjoy performances Our commitment to accessibility is seen daily in Ihe work of our commilted staff team and our active cohort of 136 volunteer usheis, who have provided us with mole than 6,1 00 hours of operational sUPPOlI this year. This has increased significantly from the year before as we are programming more events and seeing 'double staff. shifts where one usher supports another who has additional needs, enabling the development of skills. employability and building confidence. as well a5 a truly inclusive workforce. We are Incredibly grateful to them all for their contributions. Creative Engagement The 2024125 financial year saw vs exceed our Creative Engagement target of 3,000 individual engagements, achieving 3,238 in total and breaking down as 1,084 engagemenrs wilh our youth programmes. 787 across our communitv programmes and 1.267 with creative health projects. A particular highlight was Ihe new Kick Off with a Verse pilot programme. a creaiive writing course providing respite for individuals caring for people living Wlth dementia, which ha5 subsequently received funding to run for a full year from 5epiember 2025. The regular Demeniia Friendly Park creative health sirand contirlued to run for three terms. with around 50 people joining tree drama. improvisation and singing workshops in person each week, and another 30 attending online. These workshops are hosied ai Park Theaire and are followed by refreshments and social lime, valued by many as highly as the creative aciivitie5 themselves. Evaluaiion data demonstraEes that for those who take part, the programme fosiers 3 serise of belonging, combats social isolation whilst bringing joy and happiness. We have full waiting lists For each course and are now exploring ways to grow our programmes outside the building in Ihe wider community. This year we have also begun exciling discussions with UCL about a potential research partnership around thi5 work, as part of their Ageing Playfully research. By enga9ing in partnerships of Ihis kind. we can generate qualitative and quantilative data and evaluation of our programmes to support reflection. continuous Improvement and future funding, whilsi also ensuring that the quality and profile of our transformaiive creative health work is elevated beyond London creaiive arts and local creative health spheres. li
The Park Theatre Trustees, Annual Reporl For the year ended 31 March 2025 'It makes her laugh, as you can see. She's always very happy. She loves ffaiiliiaior) Gareth and rhe ay he operates, so we've been coming for n7any years now. Stephen. who attends w¥ith his wife Brenda Afier six months of work and development, the Park Theatre Young Company show in March 2025 marked the first lime ihe group had siaged Iheir production on the Park200 stage. Profe550rGriffin s useum of Curiositie5 quickly sold out and received incredibly positive feedback from parents, young people and facilitators. They particularly enjoyed how professional Ihe performances felt, and we now plan 10 siage the final Young Company production In the same way each year. Also new in 2024 12 5, the Andover Estate Creative Writing project received very Positive response from participants. The staff who run the community centre also fed back on how popular Ihe sessions were with residenis. The group came 10 Park Theatre for a backstage tour and Saw several shows free of charge, all whilst developing an anthology ol poems and prose. Attendees were referred by local meniors and developed an understanding of the kinds of roles land skills) needed to run a theaire of our scale. The programme ha5 been key in establishing Park Theatre a5 a core creative partner on the Andover Estate and we are keen for it to continue. Lastly, we delivered a pilot of a new programme, Talkback. funded by the Garfield Weston Foundation. Across 13 sessions. young people had Ihe opportunity to see seven theatre sht)ws for free in venues across London and develop their critical thinking around Iheatre a5 an art form, and content development as a communication tool. The programme h35 been recognised by other Iheaires, Including the Naiional Theatre, a5 an original, exciting and innovative project with participants becoming part of the coniemporary discourse around Iheatre, and developing skills in digital content creation. We are seeking funding to run Ihe programme again. tT31kback has] made me feel so privileged ro see so many different amazin.q show5, thBnks so muchl I ve loved the chance to compare shows and realise what common rhemes and paris of shows I love, Kennedv. pilot participant Fuiidr.IiSir)g The year beqan with our biennial Whodunnit fUnreheaised} fundraising production, designed and delivered to faciliiate individual giving alongside Increased ticket prices. and ensure a strong start to the fundraising year. We used Ihe opporiunily 10 solicii larger gifts from qenerous longstanding supporters via the nightly auctions. as wvell as promotin9 theatre memberships and competitions to win a cameo role in each performance. With almost half of each audience Visiling us for the first time, li was imperative thal we made the most of each performance. The production generated £850.000 in box office income and a furrher £60k In donations and gift aid. Our dynamic and agile business model allows for the maximising of all income streams, from commercial revenue to coniributed income. Fundraising for grants from organisations and staiuiory bodie5 15 more competitive than ever. and whilsi we continue 10 rely heavily on this income stream to deliver our Creative Engagement and Accessibility programmes. it is harder 10 secure contributed funds to offset the core costs that keep the theatre running operationally. We are incredibly grateful 12
The Park Theatre Trustees, Annual Report For the year ended 31 March 2025 for Ihe ongoing support of the Atkin Foundation. St.James' Trusi Settlement and the Garfield Weston Foundation, whose funds were used to underpin the development of our capacity to bring in earned income from the building. We also received grants frorn ihe London BoroLsghs of Islington and Haringey, the Mackintosh Foundation. Islington Giving and the Lunaria. Vanneck and Grumpy Givers Trusts to support specific engagement in115atives. Our Park Keepers membership scheme continues to serve ihe theatre well and creates a friendly community that enjoys aitending regularly and supporting our work. We increased the enlry level membership by £ l O in December 2023 to grow numbers at this important level of giving. and have reviewed the benefits received by each tier of membership. With several longstanding members giving regularly through this mechanism we have Introduced some bespoke cultivation event5. where those who are keen to do more are invited to bring friend5 to the theatre and see our work. We are very grateful to everyone who gives personally, at all levels. For a period of six months. we were withoul a fundraiser on the team this year, and so our Artistic and Ixecutive Direciofs took on this responsibility until recruitment could be undertaken. We were thrilled to welcome Alannah Lewis as Development Manager in May 2025 bringing a wealth of experience stewarding individual donor journeys and cultivating new philanrhropic relationships at other cultural organisations. We also intend to undertake a period of consultancy in the forthcoming financial year to identify ways to improve our trusis and foundalions fundraising. to elicit larger and multi-year grants to increase financial siabilitv and resilience. Due to the change in personnel and a focus on delivering Ihe Whodunnit production, iotal surn5 fundraised in this year were £361.921. Beneficiaries of our services The irusiees have referred to the Charity Commission's guidance on public benefit when reviewing Ihe charity's aims and in planning future activities. In particular. the trusiees regularly consider how planned activities will contribuie 10 the chariry's aims and objectives. The Park Theatre Creative Engagement pro9ramme is now divided into Ihree dislinct strand5'. young people. community group5 and creative health Iwhich encompasses our dementia friendly work). Across all of these, the core aim is to enrich lives, build confidence and 5elf-esieem. tackle health inequaliiies and social exclusion and to reinforce the importance of individuality and self-expression through culture and creativily. To remove barriers to participation the majority of our programme5 are free to access, with one programme ihai is a*fordably priced. and bursaries are available if needed. FinAnrial revie, Toial income for 2024,'25 was £2,724.212 compared with £2,034.863 the previous vear. Expenditure in 2024,'25 was £2.695.899 compared wilh £2,387.284 the previous year. refleciin9 a continuation of our strategy 10 invest in our own productions. Overall. the group made a surplus for the year of £217,824 compared io a deficif on an equivalent basis of £1 11.945 in 2023124. The 13
The Park Theatre Tru5tee5' Annual Report For the year ended 31 March 2025 increase in unrestricted and undesignaied funds was £310,867 compared with a reduction of £35,572 in 2023124. This year's increase on unresrricied and undesignated funds was calculated after a depieciaiion charge of £43,642, which covers the depreciation of the iheatre's Fixtures & Fittings and Office Equipment, which the theatre will need to replace in due course. For technical accounting reasons. we are required 10 include a further depreciation charge of £94,328 which relates to the theatre property and oiher a55eis which. under Ihe terms of our lease. It is Ihe freeholder's responsibility to replace., this appears in Designated Funds on the Statemenr of Financial Activities. Albeil thai Ihis is a depreciation charge required for accounting purposes. the Board does not consider that a material financial conlribulion iowards the replacement of those assets To which it relates would be required frorn the theatre. Income from core charitable activities was £1.222.456 compared to £771.499 the previou5 year: this demonsfraies the extent to which a Whodunnit fundraising produciion has a positive fiscal impact. Total fundraised income this year w35 £361.921. dDwn from £483,180 the previous year. We remain grateful to all our existing and new grant makers for their valLJable contribulions, and for continued support from our loyal donors. The Park Theatre Cafe Bar trading under Park Pizz3 generated d profil for ihe year of £15,182 after paying recharges to the (heatre for services provided, all of which was donaied to the parent company (charity) Park Theaire. Reserves As ai 31 March 2025, free reserves (equivalent to net current and unreslricted assets i.e. total unrestricted funds less fixed assets) were £1,088,231, an increase of £248.981 on the previous year-end position 12024.. £839.250). The Board continues to prioritise buildin9 Park Theatre's financial resilience and aim5 to maintain free reserves at a level equating to approximaiely three months of overhead costs (after allowing for reasonable cost miti93tions which the theatre's management could undertake if necessary). As at 31 March 2025. free reserves exceeded that target level. The Board believe5 the level of reserves Is appropriate in view of the challenging business Outlook and Its expectation that. without exceptional fundraising, the theatre will continue to have an annual deficit. Principal risks and unceriainlies The Board keeps the theatre's risk asse55ment under regular review. A deiailed review of risk5 and measures for mitlgation is looked at in detail by the Finance Committee twice per year and brought to the full Board for discussion annually. The three principal areas of risk and the steps being taken to mitigate them are.. 14
The Park Thealre Trustee5' Annual Report For the year ended 31 March 2025 Financial resllience The chariry ha5 limited reserves to enable it to cope with unexpected financial shocks, but the relatively healihy reserves level that has been achieved through strong Income generation mitigates this risk for the immediate future. Alongside fundiaising thi5 has enabled Ihe the.aire to navigate the challenges posed by the posi-pandemic world and provided a more Stable baseline than in previous years. In early 2024 we iniroduced a new £1.50 8uilding Le_vy to each ticket io create a new income 5tieam for the organi5ation. Audiences recognise Ihat this additional charge is makes a significant contribution ro covering our operational costs. and the Building Levy generated £80,000 in new, unrestricted money in its firsi full year of operation. Ticket prices were increased by 5% across the house in park200, wilh Band A prices going up by a little more than Band C and D. maintaining our commitment to afFordabilily. We also installed two new seats into the auditorium, which brought rhe standard capacity up to 199. Each seat adds El 3.000 10 the potential annual yield for ihe auditoria which make5 a significani clifference in the coniext of our current size. The new, flexible approach to programming work in Park90 has yielded positive results in that there have been no dark weeks in the calendar this year, and so from an audience perspective there 15 a consistent and diverse offer of Shows to see in our studio space. Utilising differeni financial models 10 secure productions has been integral 10 Ihis but does also bring a slightly elevated level of risk. Mindful of this, we are working hard to ensure that the financial risk profile is as balanced as the artistic across the financial year. Programming additional work on top of our core theatre programme has become our orimary tool in alleviating risk in Ihe Park90 financial model. The operational costs of 'turning a space over. to accommodate a second come.dy Show and audience are outweighed by the income generated Ihrough ticket sales, hospitality and ancillary streams, enabling us to work the building harder. ii. Dependence on voluntary incorne Park Theatre relies heavily on voluntary incorne 10 survive and as previously noted, the CUTrent fundraising climate continues to prove challenging for all, especially Ihose noi in receipi of regular government funding. Wilh more lunder5 following the Lentral government agenda and diverting their resources away from London. we face huge competilion for each grant we apply for. Our response to this is Iwofold-, lo develop our Sirategic case for support and align with grant funders who offer mulii-year support. and to maximise the income we can generate from Individual donor5. il i. Organisational resil ience With just over 20 core staff and around 40 casual Staff. tbe organisation 15 Still small e.nough to be responsive and agile when needed. and we counr Ihi5 as a strength in the current climate. Conversely Ihere are often limits on ihe leve.l of resource thai we can allocate, specifically with regard 10 the development of new ideas. We manage this at an operational level by bringing in additional frp.elance or casual support. and by working with consultants on more discrete afeas of strategic growth. Teams are accustomed to expanding and contractinq as needed and iecognise ihe benefils that 15
The Park Theatre Trustees, Annual Report For the year ended 31 March 2025 such flexibility biings in the short and longer-term. We also continue to explore ways in which we can employ new technologies to reduce manual workloads and streamline procedures. In spite of the persistent financial pressures faced we have remained a committed London Living Wage employer for anothei year and maintained parity between those paid hourly and those on salaries. S31arie5 are benchmarked against organisations of a similar size and scope on a regular basis. This is accompanied by a number of staff wellbeing measuies. from our employee a55iStance programme to flexible working arrangements. recognising that as employers we have a clear duly of care io SUPPDrt our ieams. Current position and plans for Ihe fufure The current Park Theatre business plan focusse.% on the following key priorities: l.Achieving financial sustainability 2.Achieving organisational sustainabilify 3.Programming artistically excellent work 4.Delivering exemplary customer service 5.Connecting with our neighbourhood The Executive has produced an action plan with key perfoimance indicaiors and a timeline, to monitor progress. signed off by Ihe Board. Goinq concern The charity's planning process, including financial projections. has taken in(0 account the current economic climate and ils poiential impact on the various sources of income and planned expenditure including the charity's ability io generate donaiions, grants and other development income on which the charity remain5 5ub5tantially dependeni. The Board has a reasonable expeciation that the theatre will have adequate resources 10 continue in operational existence for at leasi the 12-monih period from the date of approval of the financial 5tatement5. There are no material uncertainties surrounding the abilily of The Park Theatre to remain a going concern and Ibus the accounts have been prepared on this basis. qni'p-i.Irrr The Cornpany was Incorporated as a company limired by guaiarrtee on 30 November 2009 with regisiered nlimber 07091161. The Company wa£ registered with the Charity Commission vvith effect from 2 August 2010. with registered number 113 7223. The Company was incorporated under a Memorandum of Association that established the objects and powers of the chariiable company and is governed under its Articles of A550ciation. Trustees receive no remuneration from Iheir role. They may be reimbursed for expenses (such as travel to board meetings) necessary for them 10 perform governance duties. Any expenses and extraordinary payments reclaimed from the charity are set out In the noies io the accounts. 16
The Park Theatre Trustee5' Annual Report For the year Ènded 31 March 2025 There are two subsidiary companies in exisience". Park Theatre Cafe Bar I td (company number 09492315) and Park Theatre Produciions Ltd (company number 093583271. Park Theatre Cafe Bar Ltd wa5 incorporated on 16 March 2015 to manage the cafe bar operations. Park Theatre Production5 Ltd was incorporated ori 17 December 2014 to faciliiate more produciion5 and 10 manage the greater risk associated with producing. There are separate committees for Finance and Nominations. The Finance Committee meets regularly to support the Artistic Director ljoint CEO. Executive Directorijoint CEO and Finance Director wilh financial decisions and Issues and makes recommendations to the Board. The Finance Committee also reviews the performance of Ihe Park Theaire Café Bar trading subsidiary each quarter and Signs off the annual staiutory accounts and provides oversight for risk and risk mitigation. The Nominations Commitlee meets a5 required to consider, vet and recommend to the Board new Trustee and Executive level appointments. The trustees take their respon5ibiliiies under the Charities Act (Protection and Social Investment) Act 2016 seriously and have considered the implications of their activiiies. No commercial fundraiser5 were contracted In the year ending 31 March 2025. We follow the Code of Fundraising Practice and observe a Gift Accepiance policy outlining the considerations and processes carried out by the Development team and Its champions when accepting major gifts. Park Theatre a150 seeks to ensure that a supporier is equipped with all the necessary informaiion to make an informed decision when making a danation. Our Board of Trustees are regularly updaied on fundraising progress and fundraising aciivity is monirored by the Executive Director to ensure that the Gift Acceptance policy and GDPR are adhered to. There have been no complaints about fundraising at Park Theatre. The Board met formally every three months throughout the year. wiih informal contact in the intervening months. The Finance Committee mei quarterly prior to each Board rneeiing and the Nominations Committee met a5 required. These meetings enabled the trusiees to oversee the straiegy, management and financial management of the ihearre. Ai)pointmeDt of trustees The Board has a strong mix of skills. reflecting the ideniified needs of the charity. In 2019, we adopied revised Articles of A5SOCiaiion more suiied to our organisation and introduced fixed terms of office foi Board members. Board members are now able to Serve up to two term5 of three years each, and an additional year in exceptional Circumslances. Thi5 latter provision was made to avoid the immediate 1055 of trLJStees wilh more than six years. service. 17
The Park Theatre Trustees, Annual Report For the year ended 31 March 2025 Trustee induction and training New trusfees are identified through the Board's existing networks, by direct approaches to individuals thought to have the ski115 and experience required, or by advert15ing as appropriate. Poieniial new trustees meet at least two Board member5 and one member of the senior management team and are interviewed by members of the Nominations Committee before their appointment is considered by the full 8oard. Newly appoiniecl trustees are briefed by a senior staff member to introduce them to the charity. given a tour OF the building by the Arlisiici Executive Diiectors and are supplied with an induction pack about the charity and its governance. Relafed partie5 and relationships with other organisalion5 Trustees are aware of the need to uphold transparency and equality in contractual and business relationships. The Board requires disc105ure of relationships between the irustees or members of staff with contracted actors, production companies or similar agencies. Business contracis that could attract interest frorn known parties are put oui to tender so as not to give preferential treatment. Where a conflict of Interest arises affecting a Board rnember. the individual concerned takes no part in the decision. The freeholders for Park Theatre are Jez 8ond (the theatre's Ariistic Director), and his siblings Ms Imola Melinda Bond and Nicola Zsuzsa Primerano Riano. During the financial year ending 31 March 2025. rent of £29,994 was paid to the freeholders. Additionally. previously accrued rent tolalling £111,653 lowed for finartcial yeais 2020121 through to 2023 1241 was paid to the freeholders, leaving a zero balance at year end. Artistic Director Jez Bond received £8.000 for directing services for When it Happens ro You and was additionally paid royalties of £17.527 in respect of Wlpodunnir [Unrehearsedl 3. Rprpiiir)prilinv pr)liry tnr kpy mAn.iopmpnT r)prinnrtpl Salaries for all staff below Executive level are reviewcd by the £xecutive and any changes authorised by tlie Finance Committee. Salarie5 for the Artistic and ExecutiVL Directors are reviewed and set by Ihe Nominaiions Commiitee. FTryl-, j.pe IP f)"yi,I'ipr We are hugely grateful as a Board to the staff team. whose hard work. commitment and creativity coniinue to susiain Park Theatre's growth and enable its successes. After a period of change, the organi5ation has experienced a year of stability in leadership with Artistic Direc¢orJez Bond and Fxecutive Dirpr_tor Catherine McKinney working together to manage Ihe d1reciion Df Iravel. They are ably supported by Finance Director Elaine Lavelle and Sales & Marketing Dsrector Dawn Jame5. h0 15 embarks on a period of maierniiy leave from May 2025. 18
The Park Theatre Tru5tees' Annual Report For the year ended 31 March 2025 Producer & Programmer Amelia Cherry left in December 2024 and Joshua Goodman joined the organisation in the role in January 2025. Marketing Manager Anna Charlesworth moved on to a role at the Old Vic Theatre in February 2025, and Monique Walker Joined the team soon after. Marketing Assistant Eliza Jones has been promoted to Officer and her role made permanent, and Lou Egan joined us as Sales & Box Office Manager on a part-time fixed ierm coniract. The new role of Finance A551Stant has also been created and we're delighted to have Pinar Kurdik on board. Lastly Alannah Lewis has joined us as Developmeni Manager. focussin9 on our individual giving work. Within our small team. every role is key and we are grateful to each and every member of the team for their contribution over the last year. Siatement of responsibilities of Ihe Trusiees The trustees Iwho are also directors of The Park Theatre for Ihe purposes of company lavvl are responsible for preparing the trusrees. annual report and rhe financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Cornpany law requires the trustee5 to prepare financial statements for each financial year which give a true and fair view of the stale of affairs ol the charitable company and group and of the incoming resources and application of resources, Including the income and expenditure_ of the charitable company or group for thal period. In preparing Ihese financial staiements the trusrees are required to.. Select suitable accounting policies and then apply them consistently Observe the methods and principles in the Charities SORP Make judgements and estimates thai are reasonable and prudent State wheiher applicable UK Accounting Siandards and statements of recommended practice have been followed, subject to any material departure5 disclosed and explained in the financial statements Prepare the financial statements on the going concern basi5 unless it is inappropriate to presume that the chariry will coniinue in operation. The Irustees are responsible for keeping adequate accounting records Ihai disclose with reasonable accuracy al any lime the financial position of ihe charitable company and enable them to ensure that the financial statements comply wilh the Companies Act 2006. They are also responsible for safeguarding rhe assets of the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and oiher irregularities. In so far as the trustees are aware-. There is no relevant audil information of which the charitable company's auditor is UaWare. The Irustee5 have iaken all steps that they ought to have taken to make themselves aware of any relevant audit information and io establish rhat the auditor is aware of Ihat information. 19
The Park Theatre Trustees, Annual Report For the year ended 31 March 2025 The rrusiees arc responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and disseminaiion of financial statement5 may differ from legislation in other jurisdictions. ,Members of the charity guarantee 10 contribute an amount not exceeding £ I to the asseis of the charilv in the event of winding up. The toial number of such guarantee5 at 31 March 2025 was l O 12024.. 9). The trusiees are members of the charity. but thi5 entitles them only ro voting rights. The trustees have no beneficial inieresi in the charitv. Audiiors Wenn Townsend were appointed as auditors on 23 May 2023-, Thi5 15 rheir third audit. The trustees. annual report has been prepared in accordance with the special PlOVlSions applicable to companies subject to the small companies, regime. The trustees, annual report ha5 been approved by the trustees on I l December 2025 and signed on their b alf by Anthony Clare Chair of Tru51ees 20
The Park Theaire Independent auditors. report to the members For the year ended 31 March 2025 Opinion We have audited the financial statements of The Park Theatre Ithe 'paienr charitable company.) and its subsidiaries (the 'group') for Ihe year ended 31 March 2025 which comprise the consolidated statement of financial activities. the group and charily balance sheets. Ihe consolidated statement of cash flows and the notes to the financial statements. including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Siandard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Praciice). In our opinion the financial statements. give a true and fair view of Ihe state of the affairs of the group and the parent charitable company as at 31 March 2025 and of the group's Incoming resources and application of resources. including its income and expenditure., for ihe year then ended, have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have beon prepared in accordance wilh the requirements of the Companies Act 2006. Basis for opiniDn We conducted our audit in accordance with International Standards on Auditing IUK) IISAS (UK)) and applicable law. Our responsibilities under those siandards are further described in the Auditor's responsibilities for Ihe audit of the financial statements section of our report. We are independenl of Ihe group and parent charitable company in accordance with the ethical requiremenls that are relevant to our audit of rhe financial statemenis in the UK, includin9 the FRC'S Ethical Siandard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions re1aring to going concern In auditing the financial statemenis. we have Loncluded that the trustees, use of the going concern basis of accounting in the preparation of the financial statements is appropriaie. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that. individually or collectively, may cast significant doubt on the group or the parent charitable company's ability to coniinue as a going concern for a period of at least twelve rnonths from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustee5 Wlth respect to going concern are described in ihe relevani sections of this report. Othei information The trustees are responsible for the oiher information. The other inforrnation comprises the information included in the annual repDrl, Other than the financial sfatements and our auditor's 21
The Park Theatre Independent auditors, report to the members For the year ended 31 March 2025 report Ihereon. Our opinion on the financial statements does noi cover the other information and, excepi io the extent otherwise explicitly stated in our iepon. we do not express any form of assurance conclusion thereon. Our responsibility 15 to read the other informaiion arid. in doing so, consider 'hether the other information is materially inconsi5tenl with Ihe financial statements or our knowledge obtained In the course of the audit or otherwise appears to be materially missiated. If we identify such maierial inconsi5tencie5 or apparent material missiaiemenis, we are required to determine whether Ihis gives rise to a material misstaiement In the financial statements themselves. If. based on Ihe work we have performed. we conclude Ihat Ihere is a material misstatement of this other information, we are required to repori thar fact. We have nothing to report in this regard. Oiher maiieis Dre5cribLil b,, Ihe ',es Aci ?n06 In our opinion. based on the work undertaken in tbe course of the audit= rhe informaiion given in the Trustees. Annual Report which includes ihe Trustees. Report for Ehe financial year for which the financial statements are prepared is consistent with the financial statements- and the Trustees. Annual Report which includes the Trustees. Report has been prepared In accordance with applicable legal requifements. LIL'fs irr, li. In the light of the knowledge and undersiandin9 of the group and the parent charitdble company and their environment obtained in the course of the audit, we have not identified material misstatements in the TruslL'e5' Annual Report. We have nothing 10 report in respect of Ihe following matters where the Companies Aci 2006 fequire us to report to you If. in our opinion.. adequaie accounting records have not been kept by the parent chariiable company, or return5 adequale for our audit have not been received from blanches not visited by us.. or the parent charitable. company financial statements are noi In a9reemeni with the accounting record5 and return5- or certain disclosures of trusiees, remunerarion specified by law are not made., or we have not received all the information and explanations we require for OUT audil.. or the trustees were noi entstled 10 prepare the financial statements in 3c.cordance with the small companies regime and 10 take advantage of the small companies exemption in preparin9 the Trustees, Annual Report. Responsibilities of trustees As explained more fLJlly in Ihe Statement of Truslees, Responsibilities, the tru51ees (who are also the directors of the parent charitable company for the purposes of company lawl are responsible for the 22
The Park Theatre Independent auditors. report to the members For the year ended 31 March 2025 preparation of the financial statements and for being satisfied Ihat they give a true and fair vie_w. and for such internal conlrol as the trustees determine is necessary to enable the preparaiion of the financial sraiements Ihat are free fiom material misstatement. whether due to fraud or error. In preparing the financial statements, the trustees are responsible for assessing the group aDd the parent charitable company's ability 10 continue as a going concern, disclosing, as applicable, matters related to going concern and using Ihe going concern basis of accounting unless the trustees either intend to liquidate the group or che parent charitable company or to cease operations, 01 have no realistic alternative but to do so. JTr.Jclitor's "espons1]I We have been appointed a5 auditors under the Companies Act 2006 and report in accordance 1th regulations made under that Act. Our objectives are to obtain reasonable assurance aboui whether the group and parent chariiable company financial statemenis as a whole are free from material missiatement. whethef due to fraud or error, and to issue an audiior's report that includes our opinion. Reasonable assurance is a high level of assurance, but 15 not a guarantee that an audii conducted in accord3nce with ISAS (UK) will alw'ays deieci a materi<il misstatement when it exisis. Misstatements can arise from fraud or error and are considered material if. individually or in the aggregate, Ihey could reasonably be expected to influence the economic decisions of users taken on Ihe basis of ihese financial statements, Irregularities, including fraud. are instances of non-compliance with laws and regulalions. We design procedure5 in line Mliih our responsibilities. ouilined above, to detect material missiatements in re5peci of irregulariiies. including fraud. The specific procedures for this engagement and the extent to which these are capable of delecling irregularities, including fraud are deiailed below. Identifying and assessing risks (elated to irregularities: We assessed the susceptibility of the group and parent charitable company's financial statemenES to material mi55tatement and how fraLJd might occur. including through diSCUSsioris with the tiusieeg, discussion5 wiihin our audil team planning meeting. updating our record of internal conrrols and ensuring these controls operated as iniended. We evaluated possible Incentives and opportunities for frauduleni manipulation of the financial statements. We identified laiv5 and regulations that are of significance in the context of the group and parent charilable company by discussions wirh trustees and updating our understanding of the sector in which the group and parenl chariiable company operate. Laws and regulations of direci significance in the contexl of the group and pareni charirable company include The Companies Act 2006 and guidance issued by the Charity Commission for England and Wales. Audit response to ri5k5 identified: We considered ihe extent of compliance with these laws and regulations as part of our audit procedure5 on the related financial statement Items Including a review of financial statement disclosure5. We reviewed Ihe parent charitable company's records of breaches of laws and 23
The Park Theatre Independent auditors. report to Ihe members For the year ended 31 March 2025 regulations, minutes of rneetings and correspondence wilh relevani authoritie5 to identify potential material misstaiernents arisinq. We discussed Ihe parent charitable company's policie5 and procedures for compliance with laws and regulaiions wilh members of management responsible for compliance. During the planning meeting wilh Ihe audit ream, the enga9emerit partner drew atteniion to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of rnanagement whether they were aware of any Instances of non-compliance with laws and regulations or knowledge of any actual. suspecied or alleged fraud. We addressed the risk of fraud through management override of conirols by testin9 the appropriateness of Journal enlries and Identifying any significant transactions Ihai were unusual or outside the normal course of business. We assessed whether Judgements made in making accounting estimates 9ave rise to a possible indication of managemeni bias. Ai the completion stage of the audit. the engagement partner's review included ensuring that the team had approached their work with appropriate professional sceptlcism and thus the capacity to Identify non-compliance with laws and regulations and fraud. There are inherent limitations in the audit procedures described above and the further removed noff-compliance with laws and regulations is from ihe events and transactions reflected in the financial statement5, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraLJd is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealmeni by. for example, forgery or intentional misrepre5entation5, or through collusion. A further descripiion of our responsibilities is available on the Financial Reporiing Council's website at. ww.frc.org.uk,'auditorsresponsibilities. This description form5 parl of our auditor's repori. Il<p of niir rer)nrt This report is made solely to ihe parent charitable company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companie5 Act 2006. Our audii work has been undertaken so that we might stale 10 ihe parent charitable company's members those matiers wp_ are required to state to them in an auditor's report and for no oiher purpose. To the fullest extent permitfed by law, we do not accept or assume responsibslilv (o anyone other than the parent chariiable coftipany and the parent charitable company's members as a body. fDr our audit work. for this report. or for the opinions vve have formed. Lee Baker FCA (Senior Statulory Audilor) For and on behalf of Wenn Townsend 24
The Park Theatre IndependÈnt auditors. report to the members For the year ended 31 March 2025 Chartered Accountants SEatutory Auditors 30 St Gile5 Oxlord OXI 3LE Wenn Townsend is eligible to act as an auditor in terms of section 1212 of the Companies ACI 2006. 25
The Park Theaire Consolidated Statement of Financial Activitie5 (incorporating an Income and Expenditure account) For the year ended 31 March 2025 Unre5Lricted lunds Resfricted funds 2025 Total 2024 Total General Designared Note Income from.. Donations and legacies Charitable activities 283.331 1,222.456 1.139.835 78,590 361.921 .222.456 1,139.835 483,180 771.499 780.184 Other trading activitie5 Total income 2.645.622 78.590 2,724.212 2.034.863 Expenditure on: Raising Funds Ch arirable acrivities 490.776 2.029.045 490.776 2,205,123 650.053 1,737,231 94,328 81,750 Total expendirure 5a .519,821 94,328 81.750 2.695,899 2,387,284 Nei income I (expenditure) for the year I25.01 (94.328) (3.1601 28.313 1352,4211 Theaire Tax Rel ief Transfers between funds 189.511 189.511 240,476 18a 14.445) 4.445 Npt income I (ex pe nditurel and net movemeni In funds 3TQ.867 189,883) 13.160) 217,824 1111.9451 Reconci liation of funds.. Toral funds brought forward 917.493 1,248.5S3 3,760 2,169.206 2.281,151 Total funds carrled forward 1.228.360 1.158.670 2,387.030 2.169.206 These results derive froni continuing activities and all gains and losses recognised in the year are included in the above siaiemenl. The notes on pages 29 to 46 form pari of the financial statements. 26
The Park Theatre Balance Sheets AS at 31 March 2025 Group 2025 Charily 2024 2025 2024 Note Fixed a55ets Tangible assets Intangible assets Investments 1,254.357 44,442 1.326.796 1.254,357 44.442 1,326.796 1,298.799 1, 326.796 1,298,801 1 326,798 Current asse15 Stock Debtors Cash at bank and in hand 5.809 411,325 1,520,325 12.183 638.796 1.537,608 406.927 1,485.930 553,906 ,470.451 1,947,459 2.188.587 1.892,857 2.024,357 Liabilities Crediiofs". amount5 falling due within ont. year 1859.229J 11.346.177) (804,6291 11,181 9491 Net current assets 1,088.230 842.410 1.088,229 842,408 Total net assets 17a 2.387,030 2.769.206 2,387,030 2.169,206 Funds Reslricied income funds Ur, restricted income f unds.. Designaied funds General funds Non-charitable irading funds 3.160 3.160 ,158,670 1.228.360 1,248.553 917,493 1,158.670 1,228.360 1,248,553 917,493 Total unrestricted funds 2,387,030 2,166.045 2.387,030 2.166.046 Total fund5 2.387,030 2.169,206 2,387,030 2.169,206 No separaie company Siatement of Financial Activities has been prepared by rhe chaTily. as permitted by Section 408 of the Companies Act 2006. cial siatemenis were approved bv the board and authorised for Issue and Signed on I I r 2025. The fina Decemb Anthony Clare Chair ol Trustee5 27
The Park Theatre Consolidated Statement of Cash Flows For the year ended 31 March 2025 2025 2024 Nei income / lexpendi Ilxrel for the period (as per ifr, e siaremeni of f i,1ancial aciiviries Depreciaiion charges Amoriisation Increase in siock5 Decrease In debtor5 Increase in crediloTS 2 17.824 (111,9451 138,000 2.606 13,6261 227,471 (486,946) 113,483 (4,4421 87,387 450,431 Nei cash provided by operating activities 95,329 534,913 Cas h f lows f rom invesiing aciiviries: Dividends, interest and renis from invesimenis Tran 5fer of fixed a55eis Purchase of fixed asseis (112,611) 133,174) Net cash used in investing activitie5 (112,611) 133.1741 Change in cash and cash equivalen15 in rhe year (17.281) 501,739 Cash and cash equivalenls ai the beginning of the year 1,537,606 1.035.867 Cash and cash equivalents at the end of the year 1.520,325 1.537,606 28
The Park Theatre Notes to the financial statements For the year ended 31 March 2025 Accounting policies a) statutory i nformation The Park Theaire is a charitable company limited by guarantee and is incorporated in the Uniied Kingdom. The registered office address 15 11-13 Clifton Terrace. Finsbury Park, London, N4 3JP. b) Basis of Preparaiion The financial ftatements have been prepared in accordance with Accouniing and Reporting by Charities. Statemeni of Recommended Practice applicable to chariiies preparing their accounrs in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 Icharities SORP FRS 1021, The Financial Reporting Standard applicable in Ihe UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Assets and liabiliiies are inilially recognised at historical cost or tran5aciion value unless otherwise stated in the relevant accounling policy or note. These financial statements consolidare the resulis of the chariiable company and its wholly- owned subsidiaries on a line by line basis. Transactions and balance5 beiween the chariiable company an(J 115 subsidiaries have been eliminated from the cons01idaEed financial statemenls. Ealances bettween the companie5 are disclosed in the noies of the charirable company's balancc sheet. A separaie statement of financial activilie5. or income and expenditure account. for the charitable company Itself Is not presented because the chariiable company has iaken advaniage of the exemptions dFforded by section 408 of the Companies Act 2006. In applying the financial reporting framework. the trustees have rnade a number of subjective judgernenis. for example In respect of significani accounting estimates. Estimates and judgernenis are continually evaluated and are based on historical experience and other factors. incliiding expeciaiions of future event5 thai are believed to be fea50nable under the C1rcum5tances The nature of ihe estimafion means the actual outcomes could differ from those estimaies. Any significani estimates and Judgements affecting these financial statements are deiailed within the relevant accouniing policy below. c) Public benefit entity The charitable cornpany meets the definition of a public benefit entity under FRS 102 d) Going concern The trLJStees consider thai there are no marerial uncertainiies about the charitable company s ability to continue as a going concern. The trustees do not con5ideT that there are any source5 of estimation uncertainty at the reporting date thai have a significani risk of causing a material adjusiment to Ihe carrying amount5 of assets and liabilities wiihin the next reporiing period. e) Income Income is recognised when the charity has entitlement io Ihe funds, any performance conditions aitached to the income have been mei. it Is probable the Income will be received and that the amount can be measured relidbly. Income from governmeni and other grants, whether 'capital' grants or 'revenue grants, 15 recognised when the charity ha5 eniiilement to the funds, any performance condiiions attached to the grant5 have been met, li is probable Ehai the income will be received and the amouni can be measured reliably and is not deferre(J. Cafe bar income comprises sales of food and drink and are recognised at the point of sale. 29
The Park Theatre Note5 to the financial slatements For the year ended 31 March 2025 Workshop income comprises amounis due in respect cf creative learning classes held at the Iheatre and are iecognDsed on receipt. Theatre rental comprise amounis due from third parties for rental of theatre space for a third party production. Theatre rental is recognised in the period in which the performance occurs. Box office income CDmprises tickei sales for Ihe charily's own productions and are recognised in the period In which Ihe performance occurs Income received in advance of the provision of a specified service is deferred until the criteria for income recognition are met. f) Inierest receivable Interest on funds held on deposit 15 included vvhen receivable and ihe amoLJnt can be measured reliably by the charity. Ihis is normally upon notification of the interest paid or payable by the bank. g) Fund accounting Restricted funds are to be used for specific purposes as laid down by the donor. Expenditure which meeis Ihese criteria is charged to the fund. Unrestricted funds are donations and other incoming resources received or generated for the chariiable purposes. Designated fund5 are uniestricted lunds earmarked by the trustees fcr particular purposes h) Expendiiure and irrecoverable VAT Expenditure is recognisecl once there is a legal or consiructive ob11gation to make a paymeni to a third parly. il 15 probablo rhat settlemeni will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following aciivily headings.. Costs of raising funds relaie to the costs incurred by rhe chariiable company in inducing third parties to make voluntary coniribulions (o it. as well as the cost of any aciivilies with a fundraising Purpose Expenditure on charitable activiiies includes (he c0515 undertaken to further the purposes of the charity and Iheir associated support costs Other expendilure represents those Iiems noi falling into any other heading Irrecoverable VAT is charged as a c05t against the aciiviiv for which the expenditure was incurred. i) Allocaiion of support costs Resources expended are allocated to the particular aciivity where the cost relates directly to ihai activity. However. the cosl of overall direction and adminisiration of each activity. compri5inq the salary and overhead cosis of ihe central function, is apportioned on the basis of an estimate, based on siafF time, of the amount attributable to each aclivity. Supporl and governance costs are re-allocated to each of the activilies on the basis of an esiimaie. based on staff time, ot the amount atlributable to each activily Governance costs are the cosrs associaied wilh Ihe 9overnance arrangement5 of the charily. These costs are associated wilh consEirurional and Statutory requirements and include any costs associated wilh Ihe strategic management of the charity s aciiviiies. i) Operaling leases Renlal ohariJes are charged on a straighi line basis over ihe term of the lease 30
The Park Theatre Notes to the financial siatemenis For the year ended 31 March 2025 k) Tangible fixed assels Item5 of equipment are capitalised where the purchase price exceeds £500. Depreciation costs are allocated to aclivities on the bas15 of the use of the related assets in ihose aciiviiies. A55ets are reviewed for impairmeni if circumstances indicate their carrying value may exceed their net realisable value and value In use. Major componenis are treated as a separate a55et where they have significantly dilferent patterns of consumption of economic benefits and are depreciaied Separately over their useful life. Depreciation is splif between a designaied fund. for depreciation on Long Leasehold Property assets. and straighi line against unresiricted funds, for depreciation of Fixture5 & Filtings and Office Eq uipment. Depreciation is provided ai raies calculated to write down the cosi of each assei 10 its estTmated residual value over its expected useful life. The depreciation raies in use are as tollows. Long leasehold property Fixture5 and fittings Office equipmeni 4% straighi line 1 5% straight line 25% straight line l) Intangible fixed asset5 Inrangible asseis are recognised at Cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses- Rebranding Cosis 25% p.a. on a siraight line basis m> Investments in subsidiaries Investments in subsidiaries are ai cost. n) Stocks Stocks are stared at the lower of c05t and nei realisable value. In 9eneral. cost 15 determined on a firsr in first out basi5 and include5 transpori and handling costs Net realisable value is Ihe price at which stocks can be sold in Ihe normal course of business after allowing for the cost5 of realisation. Provision is made where nece55ary for obsoleie, slow maving and defective stocks. o) Debtors Trade and other debtors are recognised at the setilement amount due after any trade discount offered. Prepaymenls are valued ai Ihe arnouni prepaid net of any trade discounts due. Accrued income hold5 Ihe expected receipt of theaire's claim of Theaire Tax Relief from HMRC and the disiribution donation from the producrion company posi year end. p) Cash at bank and in hand Cash at bank and cash in hand includes cash and short term highly liquid invesiment5 Vjlth a short maturity of three months or less from the dale of acquisition or opening of the deposil or similar account q> Creditors and provisions Crediiors and pruvisions are recognised where the charily has a pre5eni obligation resulting from a past event that will probably resuli in the transfer of funds to a Ihird party and the amount due to setile the obligation can be measured or esiimated relidbly. Creditors and provisions are normallv recognised ar their 5etilement amount after allowing for any trade discounl5 due. r) Financial insiruments The. charity only has financial assets and findncial liabilities of a kind Ihai qualify as ba51C financial instrumenis 8a5ic fin(Incial instruments are initially reco9ni5ed at tran5actiDn value and subsequently rT?easured at their settlement value with the exception of bank loans which are subsequently measured ai amortised cost using the effective 1nierest methud. 31
The Park Theatre Notes to the financial slatements For ihe year ended 31 March 2025 s) Pensions The chariiable company operaies a defined contribution pension scheme. The assets of Ihe scheme are held sep3raTely from those of the charitable company in an independently administered Fund_ The pension cost charge represenis contributions payable under the SLheme by the charitable company (o Ihe fund. The charitable company has no liabiliiy under the scheme other than for ihe payment of those conlributions. 32
The Park Theatre Notes to the financial statements For the year ended 31 March 2025 Income from donations and legacies 2025 Total 2024 Total Unrestricted Restricted U nrestricted Restricied Donations Cift Aid Subscripiions Grants 204.373 34,024 33,934 11,000 39,730 244.103 34.024 33.934 49.860 209,066 42.743 47.918 21.000 209,066 42,743 47,918 183,453 38.360 162,453 283,331 78,590 361,921 320.727 162.4S3 483,180 Income from chariiable activities 2025 Toial 2024 Total U nreslricted Re5tricied Unrestricied Resiricted Box o'fice Workshop Corporate sponsorship Other Theai*e rental Recharged Expenses 694,506 4,850 694,506 4,850 261,658 30.057 261.658 30,057 13,527 36.462 423,458 13.527 36.462 423.458 8.000 29.426 410.550 8,000 29,426 410,550 49.653 49.653 31,808 31,808 Total income from charitable activitie5 1.222.456 1,222.456 7¥1.499 771,499 4. Income from other irading activities 2025 Total 2024 Toial Café bar Production company (incl uding Ihealre Tax Relief) 443.650 403,989 885.696 630,267 1.329,346 1,034 256 All Income from irading activiiies 15 unrestricied. 33
The Park Theaire Notes to Ihe financial siatements For the year ended 31 March 2025 53. Analysis of expenditure (Curreni year) Raisi ng fund5 Cha,"iiable act ivilies Governance costs Support cost5 2025 Total 2024 Toial Staff COSTS (Nore 7) Produciion cosis Creative Engagement costs Pre mi ses costs Fundraising cosis Adveriising and marketing Insurance Trabelling and enrertainmeni Office and I r)ierr)ei Licence fee5 sundry Box office costs Professional fees Bank charge5 Audil and accountancy Cafe bar I rrecoverable VAT Corporation Tax Charge Depreciation & Amortisation 182.483 834 604 588.053 39 589 36.497 228.104 ,281,687 1,051, 136 588,053 567,628 39,589 55,243 159,013 147,394 3,550 9,304 102,31 98,678 20,513 17 325 9,732 4,180 55.086 45,433 270 2.214 62.516 30.455 952 12,200 70,815 16,336 15.901 3.550 135,161 86,964 15.347 20,513 4,866 4.866 55.086 270 7,662 552 943 57,596 8,212 740 13,000 157,770 38,067 62,516 30.455 476 476 12,200 153,733 17,082 16.336 140.607 140,607 113,483 361 561 1,624.542 48,697 661,099 2,695,899 2.387,284 Su pport costs 117.470 527 808 15.821 1661 .0991 Governance costs 11,745 52,773 164,5181 Toial expendilure 2025 490.476 2.205,123 2.695,899 Total expendiiure 2024 650,053 1.737231 2,387,284 34
The Park Theatre Noies to the financial statements For the year ended 31 March 2025 5b. Analy515 of expenditure (prior year) Raising funds ChaTiiable activities Governance costs Suppori Costs 2024 Total Staff costs (Noie 7) Produciion cosrs Cr e&Iikie Engagemen r cost5 Premi ges costs FundrAi51ng cosis Adver115ing and marketing InsLirance Travelling and enterlainment Office and iniernel Lice ice fees SunGry Box orfice costs Professional fees Bank charges Audit and accountancy Café bar I rrecoverable VAT Corporation lax charge OepreciatiJn 311.376 509,260 567.628 55,243 7.370 31,793 198,707 1,051.136 567,628 55.243 147.394 9.304 98.678 17.325 4,180 45,433 1,152 973 57,596 8,212 370 13,000 157,770 38,067 14.739 9,304 125,285 83.816 14.802 17.325 2.090 Z,090 45.433 236 707 57.596 8,212 370 370 13,000 141,993 15,777 38,067 113,483 113,483 480,108 1,283.063 44,793 579.321 2,387,284 Support COSlS 153.840 411 128 14,353 1579.3211 Governance cosis 16,105 43 041 {59,146) Total expendilure 2024 650.053 .737,231 2,387,284 35
The Park Theatre Notes to the financial statements For the year ended 31 March 2025 Nel income/(expendirure) for the year The total ne i income i s Stated after charging/{cred Iring). 2025 Total 2C24 Toial Depreciation Amonisaiion Operating lease rentals. Prope rty Other Auditors, remuneraiion (excluding VAT) Audit T 38.000 2,6Q6 110.426 29.994 29,994 13,000 12.200 Analysis of staff costs. trusiee remuneraiion and expenses, and ihe cosi of key managemenl personnel Staff costs were as follows.. 2025 2024 Salaries and wJges Redundancy and iermination coscs Social security cosis E mployer s co nTfibuiion 10 defined contriburion pension schemes Oth er siaff COSTS 1.159,145 951,881 82,472 17.777 68.902 15.408 1.281,688 1,051 136 The average number of employees Ihead count based on nufflber of staff employed) duving Ihe year w3£ 48 12024. 441, The number of employees whose annual remuneraiion was £60,000 or more were 2025 2024 £60,000- £69.999 £70,000- £79,999 £80,000 - £89,999 The ioial employee benefiis {Including pension cortribtstions and employer's national insurance) of ihe key management persoinel were £271,492 (2024 £283.239) The chariry Trusiees were neiiher paid ror received any other Denefits f..om employmeni wilh Ihe chai-iry In Ihe year. nil 12024 £AiII No charity irustee received payment for professional or other seNices supplied to the charity nil 12024 £nill. No trustees received any reimbursed expenses (2024- £nil)_ 36
The Park Theatre Notes to the financial statements For the year ended 31 March 2025 Relaied party transaciions As pe r last year. the f reeholders for Paik Theaire are Mr Jeremy 'Jez' Bond (Ihe theaire's Artistic Direc.iorl and his siblin95 Ms Imola Melind- Bond and Ms Nicola ZsuEsa Primerano Riano. During Ihe financial year. reni of £29.994 12024.. £29.9941 was paid to the freeholders Additionally, previously accrued rent totalling £111.653 lowe.d for financial years 2020121 through 10 2023/241 was paid 10 Ihe f reeholders. loak'i ng a zero balance at year end. Ariistic Direcror Jez Bond was phid a fee of £8.000 for his direcior Services for When ir Happens ro You. and was add itionally paiij writi ng royaliies of £17.52 7 in respect ol Whodurtnit funreheorsedj 3. The charity had ihe fol lowing Iwansaclion5 wilh lis subsidiary companies during rhe year Park Theaire Café Bar Lrmiied 2024 Park Theaire Productions Limited 2025 2024 20Z5 Income during the year Expendilure during the year 61,000 57.670 209,237 145,240 Balance receivable at the year end (27,624) 163,2611 (269,114) 159,4131 There are no oiher transactions with relaied parlies to disclose. 9. Taxation The chariry IS exem pt f rom corporation lax as al l its ir,come is chariiable and is apDI led for chariiable purposes. The charity's irading subsidiaries distribute under gift aid available profi15 10 Ihe parent chariry. 2025 Total 2024 Tota, UK Corporation Tax credit 240.476 I ncorne from UK Corporation Tax relate5 to a credit for Thearrè Tax Relie,. 37
The Park Theatre Notes lo the financial statements For the year ended 31 March 2025 l O. Tangible fixed a55et5 The group Long term leasehold propeity Fixtures and fittings Off ice eouipment Total Cost At the start of the year Addilions in year 2.066.705 388.073 10.615 75,329 50,503 2.530,107 6S.S63 At the end of the year 2.071.150 398.688 125,832 2,595,670 Depreciation Ai Ihe siail of Ihe year Charge for the year 826,334 94,328 329.832 24.625 47,146 19,047 .203,313 38,000 At the end of the year 920.662 354,458 66.193 1,341,313 Nei book value Ai the end of the year 1,150,488 44,230 59,639 1,254,357 Ai ihe siari of the year ,240.371 58,241 28,183 1,326,794 All of the above asseis are used for chariiable purp05e5 l. Inrangible fixed assets Branding Website Total Cost Al the 51arl of the year Add itions in year 47,048 47.048 At the end af the year 47,048 47.048 AmorEisaiiDn Ar the 51ari of Ihe year Charge for the year 2.606 2,606 At the end of the year 2.606 2.606 Nei book value At the end of the year 44.442 44.442 At rhe start of the year 38
The Park Theatre Notes to the financial statements For the year ended 31 March 2025 12. Fixed asset inve5tmenis The Group 2025 The Charity 2025 2024 2024 InvestmenTS in subsidiary companies at cosi 13. Subsidiary undertakings The char,table company owns the whole of thL issued ordinary share capiial of Park Theatre Cafe Bar Limiied and Park Thpairp Productions Limited, both of vvhich are companies regisiered In England and Wales (company regisiraiion niimbers 09492315 and 09358327 respeciively) and iheir registered adoress is I -13 Clifton Teiiacè. Finsbury Park, Loqd()n. Y4 3JF The subsidiaries are used for non-piimary purpose tratJin9 activities. All activities hawe boen consolidated on a line by line basis In the statcmenr of financial aciiwilies Available profits are distribuled under 91 fr a'd lo the ch3ritable company. The Arti stic Direcior and The Execuiive t3irector are Oi rector5 of Park Theatre Cafe Bar Limited. The tru slee Hedda Bee by together viiTh rk.e Arlisii c Director ale D,reciors of Park Theatre Prodvciions Lirn ited A summary of the results of oach subsidiary Is shown below.. Park Thealre Café Bar Lim ited Park Theatre Produciions Li mited 2025 2024 2025 2Q24 Turno¥ier Cost of sales 443.650 (133.680) 403.989 (127,5861 885,696 (771.180) 630,267 1573,340) Gross profit/ll 055) 309,970 276,403 114.516 56.927 drnini51raiive. expenses Other operating income Bank interest (294,788) 1224,792 <176) 12,5141 Operaiir,g profit/lloss} 15,182 51,611 114,340 54,413 Thealre lax cred It Profit/llossl on ordinary activities 15.182 51,611 114,340 Dislribulion TO parent under gift aid Reverse Taxalion {15,182) (9.5671 (114,340) 154 4131 Profii/lloss1 for The f Inancial year 42,044 The aggregdte of the assets. liabililies and funds was. A55eis Funds 42,044 39
The Park Theatre Notes to ihe financial statements For the year ended 31 March 2025 Included wiihin 2dminisrrarive expenses above Is a management charge of £210.237 12024 £202,800) from Ihe parent entity. Included within 5101 Sales of Ihe ProduCliOn Co,panY lies the renial charge and recharges 10 Ihe Pareni ConTrpany Amounis owed rolfrom Ihe parent company are shown in note 16. 14. Stock The Group 2025 The Charity 2025 2024 2024 Finished goods 15.809 12,183 15,809 12.183 15. Debtors The Croup 2025 The Chariiv 2025 2024 2024 Amounts owed to group undenakings Trade debior5 Prepayments and accrued income VAT deblor Other (Jebtors 306.373 45,605 23,486 378.077 65,163 519,41S 15 287 23,370 67,423 64,547 389,381 15.186 39.186 9.761 38.930 9,761 411.325 638.796 406,927 593,906 16. Creditors: amounts falling due within one year The Group 2025 The Charily 2025 2024 2024 Amounts owed to group undertaking5 Tidde oredilors Taxation and social security Accruals and deferred Income VAT Creditor Oihei" crediiof5 44,368 21,491 195.625 39,734 5S8.01 72.524 20,500 360,127 37.223 21.491 152,370 39,448 554,097 62,496 20,500 205.606 893,026 893,347 859.229 1.346.177 804.629 1 181,949 40
The Park Theatre Note5 to thè financial statements For the year ended 31 March 2025 17a. Analysis of group net assets between funds Icurreni year) General unresirjcied De51gnated fund5 Restr icted funds Toial funds Tangible lixed a55ets Intdngible fixed asset5 Net currenl assets 95.688 44,442 1,088.230 1,158.670 ,254.358 44.442 1,088.230 Nei assets at 31 March 2025 1,228,360 1,158,670 2,387,030 17b. Analysis of group nei asset5 between fund5 IPrior year General unrestricled Desi9naTed funds Re srricted funds Total funds Tangible fixed assets Net curieni assets 78,243 829.250 1,248,553 1,326.796 842,410 3,160 Net a55e15 ai 31 March 2024 917,493 1.248.553 3,160 2,169,206 41
The Park Theatre Notes to the financial siaiemenis For the year ended 31 March 2025 18& Movement5 in fund5 (Current year) Ai 31 Marth 2025 Ai l April 2024 Income & gain5 Expenditure &1055e5 Transfers Restricted funds: C.Bradley & D.Mason Casey Trus1 Cripplegare Foufjdation Garfield Weston Foundation Golsoncott Foundation Harinqey Council Jacob Chari iable Trust JgAS Trust L Schmidt L Siockwell & N Pryor Lunaria Jrust Mackinlosh Foundation Maddapciola Limiied Noel Coward Foundation R. Timms S BLJsh Taia House Nursery V Bond 5.000 15,0001 (1.6001 17,5801 130,0001 {i.0001 14,8601 16501 11,0001 15.0001 Is,0001 11,0001 12,0001 (1.5001 11.5601 (3.0001 (4 000 12,0001 15,0001 1.600 7,580 30,000 1,000 4.860 650 1,000 5.000 5.000 1.000 2.000 ,soo .560 3,000 4.000 2.000 s,000 Total restricted funds 3,160 78.590 181.750) Unresiricied funds.. Desig pated lu nd5'. Property fund 1,248,553 194,3281 1,158,670 Toial designated funds 1.248.553 194,3281 4.445 ,158,670 General funds Non-charitable trading fund5 917.493 1.505,787 1.329,346 (1 190,475) 11,329.3461 14,4451 1,228,360 Total u nresi ricted fund s 2,166.046 2.835.133 12,614.1491 2,387.030 TDial funds 2.169.205 2.835.133 12,695,899) 2.387.030 The narrative to ex plain the purpose of each f und is given ai Ihe fool of ihe note below. 42
The Park Theaire Notes to the financial statements For ihe year ended 31 March 2025 18b. Movements in funds (Prior year) At31 March 2024 At l April 2023 Income & gains Expenditure & 1055es Transfers Restricted funds: Arts Council England Arsenal In the Communiry C. Bradley & D Mason Centurion Management Chapman Charitable Trust Charles 5 French Cnaritable Trusi Ciiy Bridge TrvSI Cockayne Foundati Cripplegate Found3Tion Jacob Chariliib,: e Tru st JBAS Trust Noel Coward Foundaiion R Timms I"ara House Nursery Casey Trusi 77 000 (77,000) (2,4751 (5.0001 14021 13.0001 2.475 5.000 402 3.000 2.000 9,050 20,000 7, 580 650 3,000 1,560 2.500 5.000 1.600 (2.0001 (9,050) 125,0001 17.580) 16501 13.0001 5.000 1,560 12. 5001 15,0001 ,bOO Roydl Victoria Hall FoundaTion Theaires Trust 1.636 20.000 11,6361 j20,000) Toial resl ricted funds 5.000 162,45 3 1164.2931 3,160 Unre5tricied fund5-. Designaied funds.. Vroperty fund 1,323,086 82.715 8,182 1.248,553 Total designated funds 1,323,086 (82.7151 8.182 1,248.553 Ceneral funds Non-charitable irading funds 995 109 142,0441 1,078,630 1,034,256 11.148,0641 1992,2121 925,675 Toial unrestricted funds 2,276,151 2.112,886 (2,222.991} 2,166,046 Total fund5 2,281 151 2.275.339 12,387.2841 2,169,206 43
The Park Theatre Noies to the financial statements For the year ended 31 March 2025 18c. Movernents in funds IConiinued)- purposes of funds Purp05e5 of designated fund5 and transfers between funds: The ProperTr Fund re p resents the nei book valJe of long term leasehold d55e15. Depreciation of these asser5 is charged against Ihe fund. Purposes of restricied funds: Accessibil itv: Carolyn Byddley & David Mason STephen Bush LuniLfi(i Trus1 Creative Engagement Joini bo%ing/theaire woikshop with Islingion Boxing Club: Casoy Tru%1 Noel Coward Foundation Creative Engagement Programme: Cripplegate Foundation Carfi&ld we.ston Foundation Jacob CharitabSe Trust Creative Engagement Overhead5'. Chapmart Chariiable Trust Jacob ChariiaDle frust JBAS Trust Tara House Nursery Production5'. MaddapAola Limiied Robert Timms Golsoncott Foundation 44
The Park Theatre Notes to the financial siaiements For the year ended 31 March 2024 19. Operaling lease cornmirments The g roup's total fulure minim um lease payrnenis u nder non-cancellable o ?eraii ng leases i 5 as f ol Iow5 for each of the followi ng periods Property 2025 Equipment 2025 2024 2024 Less iPian one year One to live years Over five years 25,000 i 00.000 216,851 25.000 i 00,000 218,758 341,85 343.758 20. Capital Commitments The chariry has comm iiied to unc eTiake Ihe renewa l of Its websi ie. ai a cost of circa £42. 74 3, Ihe new website will launch in May 2025. A compl ete refresh the chariry's brandi ng has occu r red this yeaw io coincide with this work. 21. Legal status of Ihe charity The charity is a company l imiied by guaraniee and has no share capiial The liability of each rnem be r I n the event of winding up 15 limited to £1. 45
The Park Theaire Notes to the financial statements For the year ended 31 March 2024 22. Com parative Siaterhent of f inancial activities Unresiricted fund s Restricted funds 2024 Total Gener31 Designaied Income from.. Donations and legacies 320.727 162,453 483,180 Charitable actib'ilies 771 499 771,499 Other Irading activilies 780,184 780.184 Total income 1.872,410 162,453 2,034,863 Expenditure on". Raising funds 650.053 650.053 Charitabl e activities 1.490.223 82.715 164.293 1,737,231 Tolal expenditure 2.140.276 82.715 164,293 2,387,284 Nei income / (expe nd iture) for the year 1267.866) 182.715) 11,8401 13 52,4211 Theatre Tax Re I i ef Tiansfers b£lwcen funds 240,476 18.1821 240.476 8,182 Net movement in funds 35.572) (74,5331 (1,8401 (111.945) Reconcil iation of f u nds- lotal funds broug1 forward 917.493 1,248.553 3.160 2,169,206 46