Registered number: 07034118 Charity number: 1141921
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
CONTENTS
| Page | |
|---|---|
| Reference and Administrative Details of the Charity, its Trustees and Advisers | 1 |
| Trustees' Report | 2 - 18 |
| Independent Auditors' Report on the Financial Statements | 19 - 22 |
| Statement of Financial Activities | 23 |
| Balance Sheet | 24 |
| Statement of Cash Flows | 25 |
| Notes to the Financial Statements | 26 - 39 |
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 30 SEPTEMBER 2025
Trustees
M Gilligan M A Fisher
J Quinn
W T Winters, Chairman
A Winters
L Bernhardt
Company registered number
07034118
Charity registered number
1141921
Registered office
1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Principal operating office
103 Notting Hill Gate London W11 3LB
Independent auditors
Goodman Jones LLP Chartered Accountants 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Page 1
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT FOR THE YEAR ENDED 30 SEPTEMBER 2025
The Trustees present their annual report together with the audited financial statements of the Charity for the year 1 October 2024 to 30 September 2025. The Annual Report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual Report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Charity qualifies as small under section 382 of the Companies Act 2006, the Strategic Report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.
The Charity also trades under the names Coronet Theatre.
The 2025 financial year was another successful year for The Print Room. We built on our mission to showcase projects from around the world, establishing ourselves as a leading venue for showcasing international culture, including drama, dance, music, film, and art. We continued to be a leading venue within London for the promotion of poetry
Objectives and activities
a. Aims and objectives
The Charity’s mission is to advance the arts for the public benefit through the promotion in particular, but not exclusively, of the art of drama, dance, film, art and poetry. Our principal activity is presenting international arts to London audiences, which is supported by a programme of in-person and digital educational ancillary activities.
The Print Room operates in Notting Hill’s Grade II listed ‘Coronet’, and offers a unique invited curation of UK and international artists, creating a powerful and exciting programme. We aim to engage, educate, and empower a diverse audience with extraordinary culture from beyond our borders.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit.
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THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Objectives and activities (continued)
b. Public Benefit Statement
The Print Room delivers public benefit by providing audiences with access to high-quality international performance that would otherwise rarely be presented in the UK. Through our programme of theatre, dance, music, poetry and visual performance, the charity enables audiences to encounter diverse artistic traditions and contemporary work from across the world within a uniquely intimate venue.
Alongside the presentation of established international companies, the theatre supports the development of emerging and early-career artists through workshops, scratch performances, residencies and professional development opportunities. These activities contribute to the growth of artistic practice and encourage collaboration between UK and international artists, and help sustain and develop the wider performing arts sector.
Through partnerships with educational institutions, public talks, and artist-led workshops, the charity supports learning and engagement across age and socio-economic demographics. In doing so, the Print Room contributes to the cultural life of its wider community. The charity offers extensive digital content to engage beneficiaries further afield, such as our ‘Inside Out’ and ‘Coronet Conversations’ programmes.
The charity strives to make our work accessible to the widest possible audience and looks to remove barriers to attendance through a range of initiatives, including specialised schemes for students, schools, and recent graduates which offers ticket discounts and access to free and subsidised educational programmes. Furthermore, targeted outreach takes place to ensure accessibility for local audiences, with ticket discounts provided to those of low income, as well as those with disabilities, and ‘blue light’ emergency services workers. Strategic partnerships encourage access to local older age audiences.
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THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance
a. Achievements
During the year the charity delivered an exciting programme of international theatre, dance, music, poetry and visual performance, continuing its commitment to presenting distinctive work from leading and emerging artists from around the world. The programme combined returning artistic collaborators with new companies and artists, strengthening long-term relationships while introducing new voices to UK audiences.
Alongside public performances, the theatre hosted workshops, artist talks, post-show discussions and professional development opportunities. These activities supported artistic exchange and learning for performers, students and audiences, and contributed to the development of emerging practitioners.
Key achievements included:
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Our first repeat show, maliphantworks4, enjoyed two extremely busy runs in 2025.
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Presenting work by Mario Banushi, the recipient of this year's Silver Lion at the Venice Biennale.
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Hosting a sold-out rund of SPAC's spectacular production of Medea .
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Holding a number of workshops and professional development opportunities alongside our main programme, including the return of RADA Labworks.
The programme attracted 17,938 attendances for the year, representing a significant increase on the previous year (increase of 7,876 - 78% compared to the previous year, which was 10,062 attendances). The primary reason for the difference was that many of the visiting companies were returning and established relationships, meaning we had more confidence to programme longer runs. This was in keeping with the charity's artistic policy, which centres around investing in artistic relationships over the long term to maximise benefit and efficiency, and reflected both the strength of the artistic programme and the continued development of returning artistic partnerships.
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THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance (continued)
b. Productions 2024-2025
The Wild Duck by Henrik Ibsen 18 Oct – 02 Nov 2024
“A flawless production: understated elegance and meticulous performances underscore a searing clarity of vision.” - Everything Theatre
The Coronet’s major drama production of the building’s 10th Anniversary Season was a new staging of Henrik Ibsen’s The Wild Duck, in a co-production with The Norwegian Ibsen Company and Bergen’s Den Nationale Scene.
Using Ibsen’s original text, this brand-new staging, which was performed in Norwegian with English surtitles, had a cast of some of Norway’s most celebrated actors, and was directed by Hedda Award-winner Alan Lucien Øyen.
Seoul Manner by Bek Hyunjin
08 – 09 Nov 2024
For only two intimate nights cult Korean musical, artistic and film icon BekHyunjin performed tracks from his as yet unreleased album, Seoul Manner, and from his acclaimed 2019 album Light, Many. Bek performed with his 6 piece band, who have collaborated with him for many years producing their distinct high energy style, in which the sound matches the emotional impact of his lyrics.
U-BU-SU-NA by Kentaro Kujirai
14 – 16 Nov 2024
“A unique opportunity to immerse yourself in a performance that is both explosive and meditative… do not miss this unique opportunity.” - thespyinthestalls
A luminous World Premiere from Kentaro Kujirai, one of Japan’s leading contemporary Butoh masters, created in collaboration with dramaturg Shuri Kido, an award-winning poet known for his translations of Ezra Pound into Japanese.
U-BU-SU-NA interrogated the tension between contemporary urbanism and Japan’s ancient spiritual heritage, as he shared his response to the buried legacy of discrimination in the Sendai area of Tohoku, where Kujirai was born and raised. U-BU-SU-NA was accompanied by a workshop led by Kentaro Kujirai for dancers of all levels.
Inspired by Kafka, part of the Made in Prague Festival
26 Nov 2024
A celebration of the centenary of Franz Kafka’s legacy. A night of three short cinematic masterpieces, Joseph Kilian, Double Trial and The Flat, and Insectum, a mesmerizing dance performance. Stranger Than The Moon by Berliner Ensemble 04 – 06 Dec 2024
“It gives you goosebumps. Brecht is still so relevant.” - Berlin Morning Post
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THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance (continued)
Bertolt Brecht – in his own words. Tender, funny, furious, and moving between cabaret, opera and prose, Stranger Than The Moon was an exhilarating concert portrait of the life of a giant of 20th century theatre.
Directed by Berliner Ensemble Artistic Director Oliver Reese, Stranger Than The Moon is performed by two of Germany’s most celebrated actor/singers: Katharine Mehrling, well known to the Berlin audience from her starring roles at Komische Oper Berlin and Bar jeder Vernunft, and award-winning stage, film and TV actor Paul Herwig. They are joined by pianist and musical director Adam Benzwi.
Due to exceptional demand, standing tickets were added to each performance.
The Coronet Theatre Jazz Festival 2024
12 – 13 Dec 2024
BBC Jazz Innovation award-winner Byron Wallen returned to The Coronet Theatre to curate a sensational festival of international jazz.
Max Roach Centenary with Rod Youngs MOBO nominated musician Rod Youngs paid tribute to legendary American drummer and composer Max Roach in an exclusive set. Youngs also celebrated the life and work of pianist and composer Bud Powell and acclaimed drummer Roy Haynes.
Hurricane Bells
Living at the intersection between jazz, contemporary art and politics, Hurricane Bells was an extraordinary composition by Byron Wallen in response to Peter Shenai‘s work of the same name, performed by a five-piece band comprising some of the UK best jazz musicians.
Yugen and Nativity by Martha Fiennes
13 – 19 Feb 2025
Award-winning artist, filmmaker, director and writer Martha Fiennes brought Nativity and Yugen, two of her most visually astonishing pieces of generative art, to The Coronet’s main auditorium and the Print Room studio. Intriguing images of surreal and dreamlike natural worlds combined with alternate dimensional realities in a constantly changing and beautiful spectacle. The exhibition was accompanied by an In Conversation event, featuring Martha Fiennes, Peter Muggleston, The Revd Dr Richard Davey, Carl Grinter and Adam Abraham Cubitt.
Pandora by Teatro Dei Gordi
27 Feb – 02 Mar 2025
Funny, fast paced, at times wildly surreal and at others surprisingly familiar, six actors played over fifty identities in an astonishing feat of physical and visual transformation from Italian physical theatre company Teatro dei Gordi. Due to high demand, an additional matinee was added to the performance schedule. The production was accompanied by a post-show talk with director Riccardo Pippa and members of the company, and a mask workshop for professional actors, dancers and performers, also led by Riccardo Pippa.
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THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance (continued)
Longing To Be Free by Sarah Jane Morris
08 Mar 2025
One of Britain’s most influential jazz and R&B singers, Sarah Jane Morris, returned to the Coronet to celebrate International Women’s Day. Longing To Be Free was an evening in which Sarah Jane and her band, in their inimitable style, honoured women and their contribution to the history of song – female artists past and present who have inspired her own musical journey.
maliphantworks4 by Russell Maliphant Company
10 – 12 Mar 2025
“Hypnotic” – The Stage
Russell Maliphant returned to The Coronet with maliphantworks4, featuring the World Premiere of In a Landscape, performed by Maliphant himself, and his acclaimed AfterLight danced by the exceptional Daniel Proietto. maliphantworks4 was the fourth in the maliphantworks series at The Coronet Theatre.
The show was accompanied by a post-show Q&A with Russell Maliphant, and screenings of the dance films Film One and Film Two.
Waltz by Saburo Teshigawara
19 – 22 Mar 2025
“Swirling excitement… full of the joy of dance” – Morihiko Takahasi
The UK premiere of Waltz – a dynamic duet from influential Japanese choreographer Saburo Teshigawara and artistic collaborator Rihoko Sato.
Waltz marked the third collaboration between Teshigawara and The Coronet Theatre and was accompanied by a post-show talk with Teshigawara and Sato.
Relic by Euripides Laskaridis
02 – 05 Apr 2025
“Anarchic physical theatre that will live long in the memory” – Graham Watts, DanceTabs
Following 2023’s smash-hit Titans, Greek director, performance artist and world leading voice on the Theatre of The Absurd Euripides Laskaridis, returned to The Coronet with Relic, an outrageous and fearless solo performance.
The performance was accompanied by a masterclass for professional performers led by Laskaridis.
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(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance (continued)
Einkvan by Jon Fosse 08 – 17 May 2025
“It’s a show that will continue to haunt you, in your own company, or with others…Bring a friend.” – thespyinthestalls
Visually extraordinary and emotionally charged: Einkvan (Everyman) was a breathtaking new play from 2023 Nobel Prize-winner Jon Fosse, directed by Det Norske Teatret Artistic Director Kjersti Horn. Two Q&As accompanied the production, one with Kjersti Horn, and the other with members of the Einkvan company.
Taverna Miresia – Mario, Bella Anastasia by Mario Banushi 05 – 07 Jun 2025
“Mario Banushi is one of the most important new voices in European theatre” – TheaterSpektakel
A searing and deeply human portrait of mourning from a rising star of international theatre.
Never before seen in the UK, Albanian actor/director Banushi was hailed as an extraordinary new talent by international critics at The National Theatre of Greece.
Pulse by Ballet Black 11 – 13 Jun
Pulse was Ballet Black’s first live dance production at The Coronet Theatre. The production was a joint project designed to nurture emerging choreographic talent from within Ballet Black. Building on a relationship that has delighted audiences with six dance films over the past three years, The Coronet Theatre opened its doors to provide a dedicated artistic space and intimate setting where new creativity flourished.
Over three evenings in June, audiences experienced the premieres of short, original works from talented Ballet Black dancers Isabela Coracy, Helga Paris Morales, and former company member Jacob Wye.
Medea directed by Satoshi Miyagi
18 – 21 Jun 2025
Satoshi Miyagi, celebrated Artistic Director of Japan’s SPAC (Shizuoka Performing Arts Center), confronted the haunting legacy of empire with a spectacular contemporary reinterpretation of Euripides’ Medea, set in Japan’s late 19th-century Meiji era.
This stunning and internationally acclaimed production, which has travelled to 20 cities and 11 countries, provided a fresh, dynamic take on this timeless story of grief, betrayal, and vengeance.
Due to exceptional demand, standing tickets were added to each performance of the production.
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THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance (continued)
LEENALCHI 04 – 05 Jul 2025
Sensational South Korean ensemble LEENALCHI returned The Coronet for two nights only.
For these special performances as part of their 2025 European tour, they delved into their acclaimed first album, Sugungga, as well as playing recent singles such as Bird, Watch Your Step, Look At Me Look At Me, HiHi HaHa, and God of Mud. Each song is a testament to their innovative spirit, seamlessly weaving ancient narratives with modern soundscapes.
RADA LAB WORKS from RADA’S MA Theatre Lab 16 – 19 Jul 2025
The Coronet Theatre and RADA’s partnership continued in 2025 with workshops, scratch nights, a series of original ‘theatre-shorts’, and new work from RADA’s graduate community, enabling artistic development, public visibility, and new networking opportunities for emerging artists.
RADA Lab Works 2025: Scratch Night 1: 16 Jul 2025 RADA Lab Works 2025: Scratch Night 2: 17 Jul 2025 RADA Lab Works 2025: Fringe Preview: 18 Jul 2025 RADA Lab Works 2025: Lab Re-Works: 19 Jul 2025
maliphantworks4 by Russell Maliphant Company 11 – 13 Sep 2025
“A 5-star jewel of a show… blissful to experience” – LiftedLeg
“Utterly captivating” – North West End The hugely popular fourth edition in the maliphantworks series returned in September to sold out performances. Standing tickets were added due to exceptional demand.
The show was again accompanied by a post-show Q&A with Maliphant, and screenings of dance films Film One and Film Two.
Naraku (Abyss) by Dance Company Lasta 18 – 20 Sep 2025
From Yoshimitsu Kushida and Dance Company Lasta, one of the foremost influences in contemporary Japanese dance for over a decade, Naraku was a visceral journey into a man’s psyche, where desire, ego, and obsession clash with electrifying intensity.
The production was accompanied by a workshop led by Kushida for professional and semi-professional dance artists.
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THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Achievements and performance (continued)
c. Poetry Events
Poetry Club at the Print Room
Our popular series of contemporary poetry readings and screenings continued throughout the year: Poets included: Ella Frears, Salena Godden, Glyn Maxwell, Nick Makoha, Roger Robinson, Karen McCarthy Woolf, Richard Scott, Paul Muldoon, Alice Oswald, Don Paterson and Ruth Fainlight.
Dead Poets Live
The Dead Poets Live series, in partnership with the T.S. Eliot Foundation, presents staged readings of work by famous dead poets, undertaken by very well-known actors. All performances added standing tickets due to exceptional demand. The 2024-25 series included:
Autumn Journal 17 - 24 Nov 2024 The return of 2023’s sold-out performance featuring Éanna Hardwicke.
Onlie Begetter – Shakespeare’s Sonnets 07 – 08 Dec 2024
Featuring Monica Dolan, Angus Wright, Nat Segnit and Keri Mosuro.
Three Ages of Yeats 29 Jun 2025
Featuring Niamh Cusack, Dónal Finn, Aoife Hinds and Peter McDonald.
Financial review
a. Going concern
The charity receives loans and donations from certain trustees to provide it with sufficient funds to enable it to continue operating as a going concern. These contributions supplement earned income from ticket sales and other fundraising activities and form an established and monitored part of the charity’s financial model.
The trustees regularly review the charity’s financial position, including projected income, expenditure and cash flow forecasts, in order to ensure that the organisation has adequate financial resources to meet its obligations as they fall due.
The charity has received assurances that such funding will continue to be made available for a period of at least 12 months from the date of signing the financial statements. As a result, the trustees consider it to be appropriate to prepare the accounts on a going concern basis.
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THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
b. Financial review
The charity’s total income for the year was £1,063,586 (2024: £1,076,005). Income was generated through a combination of ticket sales, donations, fundraising activity and other earned income associated with the charity’s artistic programme.
Ticket income totalled £330,114 (2024: £241,332), representing an increase of 37% on the previous year. This increase reflects both the strength of the artistic programme and the continued development of relationships with returning companies, which enabled the theatre to programme longer runs and achieve higher audience attendance.
Income from donations and fundraising totalled £733,095 (2024: £834,123). This support continues to play an important role in enabling the charity to deliver its artistic programme and to subsidise productions that would not otherwise be commercially viable.
Total expenditure for the year was £1,212,975 (2024: £1,036,952). Expenditure primarily related to the presentation of artistic productions, staffing costs, building and operational costs associated with maintaining the theatre, and the delivery of workshops, events and other public activities. The increase primarily reflects the growing ambition and size of the artistic programme.
The charity recorded a net deficit for the year of £149,389 (2024: £39,053 surplus). This position reflects, in part, the timing of income recognition. At the year end the charity held £121,406 (2024: £nil) of deferred income relating to productions and activities taking place in the following financial period. In accordance with accounting requirements this income will be recognised in the next financial year when the associated activity takes place. As a result, although this income has been received, it is not reflected within the current year’s income figures.
At the end of the year free reserves stood at £(158,609) (2024: (£9,220)). This position reflects the timing of income and expenditure within the charity’s programme and also the recognition of deferred income relating to future activity. Trustees expect the reserves position to improve during the next financial year as programmed activity is delivered and the associated income is recognised. Regardless, the charity’s liquidity is supported by trustee guarantees and ongoing trustee funding commitments which the relevant individuals have confirmed will continue to be available, as required, to ensure that the charity is able to meet its obligations as they fall due. The Trustees therefore do not consider the current reserves position to represent a material risk to the charity’s ability to continue operating and they keep both reserves and cash flow under regular review as part of their financial oversight.
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THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
c. Fundraising
The charity’s financial model combines earned income from ticket sales with philanthropic support from donors and supporters. The trustees recognise that presenting ambitious international artistic work within an intimate venue often requires financial subsidy in order to remain accessible to audiences. Many of the projects presented by the charity involve international collaborators, specialist technical requirements, or short performance runs that would not be financially viable through ticket income alone. Philanthropic support from donors, trusts and foundations, diplomatic partners, commercial sponsors, and the charity’s Friends (members) and Patrons (supporters) therefore plays an important role in enabling the charity to deliver its artistic programme while maintaining accessible ticket prices.
The theatre seeks to cultivate a diverse range of funding sources, including diplomatic partners, trusts and foundations, private individuals and commercial supporters, in order to subsidise its artistic programme and associated activities. Diversification of income streams remains a priority for the trustees in strengthening the charity’s long term sustainability. The trustees also recognise that the availability of external funding can sometimes be influenced by the nature of specific artistic projects within the programme.
As a result, philanthropic contributions continue to play an important role in supporting the charity’s core operating costs and in underwriting productions that would not otherwise be financially viable.
The charity raises funds primarily through donations from individuals and supporters who share its commitment to international arts, including through its Friends (members) and Patrons (supporters) programmes. The charity does not engage commercial bodies to carry out fundraising activities on its behalf. Fundraising activity is undertaken directly by the charity’s management and trustees.
The charity promotes its Friends and Patrons programmes and other opportunities for support through its marketing communications, including email newsletters, printed materials, information available at performances and events, and during the online ticket booking journey. These communications inform audiences about ways in which they may support the charity’s work and are conducted in accordance with applicable regulations.
The trustees are committed to ensuring that fundraising is conducted in a responsible and transparent manner. The charity has an Ethical Fundraising Policy which sets out the principles governing how funds are sought and accepted, and this policy is reviewed annually by the Board of Trustees to ensure that fundraising activities remain consistent with the charity’s values and charitable objectives.
The charity does not undertake large scale public fundraising campaigns or high volume solicitation. The trustees remain mindful of the need to ensure that individuals are not subject to undue pressure and that vulnerable individuals are protected. No complaints relating to fundraising activities were received during the year. The trustees keep fundraising practices under regular review to ensure that the charity continues to operate in line with appropriate regulatory expectations and recognised good practice. The Charity was not signed up to any voluntary codes of conduct regarding its fundraising practices in the year under review but is currently in the process of registering with the Fundraising Regulator which is anticipated by the end of the present financial year.
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THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
d. Reserves policy
The Charity aims to maintain free unrestricted and uncommitted reserves of £30,000. These reserves are intended to provide a modest level of working capital to manage short term cash flow fluctuations, including potential variability in box office income and unforeseen changes in production or operating costs.
In setting this policy, the Trustees have considered the charity’s financial model, which combines earned income with philanthropic support, and have taken particular account of longstanding trustee arrangements that guarantee the charity’s liquidity as a going concern for at least 12 months. As noted from the balance sheet the reserves policy has not been met in the year, however the Trustees have an appropriate plan in place to work on correcting this.
Restricted funds are held for use on specific projects in accordance with the agreements made with individual funders.
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THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Structure, governance and management
a. Constitution
The Charity is a charity limited by guarantee governed by its Memorandum and Articles of Association. It was registered as a charity with the Charity Commission on 16 May 2011. Company number: 07034118. Charity number: 1141921.
b. Method of appoint or election of trustees
New trustees are appointed through a majority vote of existing Trustees. Recruitment is with the aim of securing a broad range of skills and experience in the service and development of the Charity’s objects. Existing Trustees consider and approve prospective candidates in line with the articles of association.
c. Policies adopted for the induction and training of Trustees
Trustees receive an induction to the work of the Charity and are encouraged to undertake training where gaps in their knowledge and experience are identified and in order to maintain collective expertise in good governance. Senior personnel regularly update trustees with the latest guidance from the Charity Commission or other relevant bodies.
d. Remuneration policy for key management
The charity’s key management personnel are the Artistic Director/CEO, the General Manager, and the Finance Manager.
The Artistic Director/ CEO is an unpaid trustee and is not an employee of the charity. The General Manager (Full-Time) and Finance Manager’s (Freelance) remuneration is set by the Trustees in accordance with industry norms.
All staff salaries are set with reference to industry standards of remuneration, regularly benchmarked against peer organisations.
Performing and creative personnel salaries are set with reference to the Independent Theatre Council’s Ethical Management standards.
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THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Structure, governance and management (continued)
e. Organisational structure and decision making
Board structure: The trustees / directors for the period of this report were: the Chairman Bill Winters, Artistic Director/CEO Anda Winters, Linda Bernhardt, Mimi Gilligan, Mike Fisher and Jane Quinn.
The Board of Trustees meet 4 times a year, or more often if required. They approve all strategic, financial, and policy decisions. They delegate the day-to-day leadership of the Charity to Anda Winters – Artistic Director and CEO who works with a senior team on the management of the Charity.
Day to day financial management is conducted by the full time General Manager and freelance Finance Manager. HR is managed day to day by the General Manager.
Full time salaried staff are employed in Producing, Production, Operations, Front of House, Communications, and Administrative capacities.
We engage a part-time Poetry Co-ordinator to advise and manage the programming of the poetry events, and both Marketing and Producing consultants on an ongoing basis.
Kean Lanyon Ltd acts as our Press Representative for the charity.
We continued to employ the zero-hour roles of Duty Manager, Front of House, and Box Office Staff to support our Front of House operations on a rolling basis, supported by our Voluntary Ushering Staff programme.
f. Conflict of Interest Management (including the relationship with Coronet Ondine LLP)
Potential, perceived and actual conflicts of interest are recorded, considered and managed in accordance with the charity’s Conflict of Interest Policy and procedures. These reflect Charity Commission guidance and recognised good governance practice, and address circumstances that may arise within the charity’s governance and funding model, including trustee-donor relationships. The policy is reviewed annually, and consideration of any new or changing conflicts is a standing item on the agenda of quarterly trustee meetings.
In particular, since 2014, the charity has operated from 103 Notting Hill Gate, London W11 3LB. The building is owned by Coronet Ondine LLP, whose partners are Mr and Mrs W. Winters, both of whom are trustees of the charity. The charity occupies the premises under a licence agreement that is reviewed periodically and approved by trustees who have no connection with Coronet Ondine LLP, in accordance with the charity’s conflict of interest procedures.
A Senior Independent Trustee is appointed from among the trustees who are not connected with Coronet Ondine LLP. This trustee has responsibility for overseeing the management of the relevant conflict of interest arrangements and ensuring that the charity’s policies, procedures and agreed controls are properly applied on an ongoing basis.
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THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Structure, governance and management (continued)
g. Key risks and Risk management
The trustees review the principal risks facing the charity as a standing item at their quarterly meetings. During these meetings the trustees consider the potential impact of identified risks on the charity’s operations and confirm that appropriate systems and controls are in place to mitigate them. Risk management is treated as a dynamic process and the charity maintains an active risk register that is reviewed and updated regularly by the senior management team and the trustees.
The trustees consider the following areas to represent the most significant risks to the charity’s operations:
Box Office Income
The charity’s earned income is significantly dependent on ticket sales from its artistic programme. There is therefore a risk that individual productions may underperform against box office expectations, particularly where work is experimental, international, or unfamiliar to UK audiences. The trustees mitigate this risk by setting realistic attendance and income targets based on previous experience and market conditions, and by maintaining a balanced programme that combines returning artists with new companies. The theatre also employs a dynamic ticket pricing strategy designed to maximise overall yield while maintaining accessibility for audiences. Programming decisions are taken with careful consideration of financial projections and production costs.
Fundraising and Income Diversity
The charity relies in part on philanthropic support in order to subsidise its artistic programme and maintain accessible ticket prices. A lack of diversification in income sources could expose the charity to financial risk if individual funding streams were to be reduced. The trustees therefore closely monitor progress against fundraising targets and seek to diversify income sources wherever possible. The charity actively cultivates a range of support including individual donors, Friends and Patrons, trusts and foundations, diplomatic partnerships, and commercial sponsorship. The trustees review fundraising activity regularly and maintain an Ethical Fundraising Policy to ensure that all fundraising is conducted responsibly and in accordance with the charity’s values.
International Factors
As an organisation presenting international artistic work, the charity is exposed to fluctuations in costs and operational risks associated with international production and touring. These may include variable travel and accommodation costs, transport of sets and equipment, visa requirements, and wider global and economic factors such as currency exchange rates, or global political or environmental disruption. These factors can create uncertainty in production budgets and for project risk management. The Charity mitigates this risk through careful financial planning, advance planning including budgeting of production costs, ongoing monitoring of expenditure throughout the production process, and the engagement of specialist staff to deliver the programme.
Through these measures the trustees seek to ensure that risks are identified at an early stage and that appropriate actions are taken to protect the charity’s financial stability and its ability to deliver its charitable objectives.
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(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Plans for Future Periods
Business planning is led by the Chief Executive/Artistic Director and the board with the senior staff team. Annual budgets are developed and approved by the board including a clear projection of income and expenditure.
The charity is in the process of updating its financial systems and processes to ensure that it can carry out its planned programme and deliver its obligations effectively.
The artistic programme is set by the Chief Executive/Artistic Director working 12-18 months in advance.
Statement of Trustees' responsibilities
The Trustees (who are also the directors of the Charity for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Charity and of its incoming resources and application of resources, including its income and expenditure, for that period.
In preparing these financial statements, the Trustees are required to:
-
select suitable accounting policies and then apply them consistently;
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observe the methods and principles of the Charities SORP (FRS 102);
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make judgments and accounting estimates that are reasonable and prudent;
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state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
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prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Charity will continue in business.
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Charity's transactions and disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Disclosure of information to auditors
Each of the persons who are Trustees at the time when this Trustees' Report is approved has confirmed that:
-
so far as that Trustee is aware, there is no relevant audit information of which the charity's auditors are unaware, and
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that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charity's auditors are aware of that information.
Auditors
The auditors, Goodman Jones LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.
Page 17
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 30 SEPTEMBER 2025
Approved by order of the members of the board of Trustees and signed on their behalf by:
................................................ W T Winters
Date: 19-04-26
Page 18
(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE
Opinion
We have audited the financial statements of The Print Room Theatre (the 'charitable company') for the year ended 30 September 2025 which comprise the Statement of Financial Activities, the Balance Sheet, the Statement of Cash Flows and the related notes, including a summary of 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 Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
The financial statements have been prepared in accordance with Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standards applicable in the UK and Republic of Ireland (FRS 102) in preference to the Accounting and Reporting by Charities: Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations but has been withdrawn.
This has been done in order for the accounts to provide a true and fair view in accordance with Generally Accepted Accounting Practice effective reporting periods beginning on or after 1 January 2015.
In our opinion the financial statements :
-
give a true and fair view of the state of the charitable company's affairs as at 30 September 2025 and of its incoming resources and application of resources, including its income and expenditure for the year then ended;
-
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-
have been prepared in accordance with the requirements of the Charities Act 2011.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, 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 relating to going concern
In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
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 charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.
Page 19
THE PRINT ROOM THEATRE (A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE (CONTINUED)
Other information
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:
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the information given in the Trustees' Report is inconsistent in any material respect with the financial statements ; or
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sufficient accounting records have not been kept; or
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the financial statements are not in agreement with the accounting records and returns; or
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we have not received all the information and explanations we require for our audit.
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the Trustees were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemptions in preparing the Trustees' Report and from the requirement to prepare a Strategic Report.
Responsibilities of trustees
As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements , the Trustees are responsible for assessing the charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the charitable company or to cease operations, or have no realistic alternative but to do so.
Page 20
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE (CONTINUED)
Auditors' responsibilities for the audit of the financial statements
We have been appointed as auditor under section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements .
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Based on our understanding of the charity and sector, we identified that the principal risks of non-compliance with laws and regulations related to sector regulations and unethical and prohibited business practices, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006, Charities Act 2011, Charity Commission and sector regulations, and UK Tax Legislation. We evaluated management's incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls). Appropriate audit procedures in response to these risks were carried out. These procedures included:
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Discussions with management, including consideration of known or suspected instances of non-compliance with laws and regulation and fraud;
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Reading minutes of meetings of those charged with governance;
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Obtaining and reading correspondence from legal and regulatory bodies including HMRC;
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Identifying and testing journal entries;
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Challenging assumptions and judgements made by management in their significant accounting estimates.
We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members; and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.
There are inherent limitations in the audit procedures described above and the further removed noncompliancewith laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
Page 21
(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE PRINT ROOM THEATRE (CONTINUED)
Use of our report
This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.
Goodman Jones LLP
Chartered Accountants 1st Floor Arthur Stanley House 40-50 Tottenham Street London W1T 4RN
Date: 20-04-26
Goodman Jones LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.
Page 22
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Note Income from: Donations and legacies 4 Charitable activities 5 Investments 6 Total income Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward 14 |
Unrestricted funds 2025 £ 613,327 330,114 377 943,818 3,576 1,089,631 1,093,207 (149,389) (9,220) (149,389) (158,609) |
Restricted funds 2025 £ 119,768 - - 119,768 - 119,768 119,768 - 19,938 - 19,938 |
Total funds 2025 £ 733,095 330,114 377 1,063,586 3,576 1,209,399 1,212,975 (149,389) 10,718 (149,389) (138,671) |
Total funds 2024 £ 834,123 241,332 550 1,076,005 2,806 1,034,146 1,036,952 39,053 (28,335) 39,053 10,718 |
|---|---|---|---|---|
The notes on pages 26 to 39 form part of these financial statements.
Page 23
THE PRINT ROOM THEATRE (A Company Limited by Guarantee) REGISTERED NUMBER: 07034118
BALANCE SHEET AS AT 30 SEPTEMBER 2025
| Note Tangible assets 11 Current assets Debtors 12 Cash at bank and in hand Current liabilities Creditors: amounts falling due within one year 13 Net current liabilities Total net assets Charity funds Restricted funds 14 Unrestricted funds 14 Total funds |
29,494 74,921 104,415 (248,146) |
2025 £ 5,060 5,060 (143,731) (138,671) 19,938 (158,609) (138,671) |
43,827 57,073 100,900 (101,991) |
2024 £ 11,809 11,809 (1,091) 10,718 19,938 (9,220) 10,718 |
|---|---|---|---|---|
The entity was entitled to exemption from audit under section 477 of the Companies Act 2006.
The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.
However, an audit is required in accordance with section 144 of the Charities Act 2011.
The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.
The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.
The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:
................................................
W T Winters
19-04-26 Date:
The notes on pages 26 to 39 form part of these financial statements.
Page 24
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 30 SEPTEMBER 2025
| Cash flows from operating activities Net funds provided by operating activities Cash flows from investing activities Dividends, interests and rents from investments Net cash provided by investing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year The notes on pages 26 to 39 form part of these financial statements |
2025 £ 17,675 173 173 17,848 57,073 74,921 |
2024 £ (39,093) 238 238 (38,855) 95,928 57,073 |
|---|---|---|
Page 25
THE PRINT ROOM THEATRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
1. General information
The print room theatre is a charity limited by guarantee in England and Wales, it is registered with the Charity Commission under charity number 1141921. The registered office address of 1st Floor, Arthur Stanley House, 40-50 Tottenham Street, London, W1T 4RN. The objectives of the Charity are set out in the Trustees' Report.
2. Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.
The Print Room Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.
The financial statements are prepared in sterling, the functional currency of the Charity, and rounded to the nearest £.
2.2 Company status
The members of the company are the Trustees named on page 1. In the event of the Charity being wound up, the liability in respect of the guarantee is limited to £10 per member of the Charity.
2.3 Going concern
The Charity is reliant upon loans and donations from one trustee to provide it with sufficient funds to enable it to continue as a going concern. The Charity has received assurances that such funding will continue to be available for a period of at least 12 months from the date of signing the balance sheet. The Trustees therefore believe it is appropriate to prepare the accounts on a going concern basis.
2.4 Fund accounting
General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes.
Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements.
Investment income, gains and losses are allocated to the appropriate fund.
Page 26
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
2. Accounting policies (continued)
2.5 Income
All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.
Ticket sales are recognised in the period in which the associated performance takes place.
Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.
2.6 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity.
Support costs are those costs incurred directly in support of expenditure on the objects of the Charity and include project management carried out at headquarters. Governance costs are those incurred in connection with administration of the Charity and compliance with constitutional and statutory requirements.
Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs.
Costs of generating funds are costs incurred in attracting voluntary income, and those incurred in trading activities that raise funds.
Charitable activities and Governance costs are costs incurred on the Charity's educational operations, including support costs and costs relating to the governance of the Charity apportioned to charitable activities.
All resources expended are inclusive of irrecoverable VAT.
2.7 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Charity; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost.
Page 27
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
2. Accounting policies (continued)
2.8 Tangible fixed assets and depreciation (continued)
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
- Fixtures and fittings 20% Straight Line
2.9 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
2.10 Pensions
The Charity operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Charity to the fund in respect of the year.
2.11 Cash at bank and in hand
Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.
2.12 Liabilities and provisions
Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.
Liabilities are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.
Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of Financial Activities as a finance cost.
2.13 Financial instruments
The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.
Page 28
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
3. Critical accounting estimates and areas of judgment
Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions:
The Charity makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.
Critical areas of judgment:
Income recognition - the Charity received income from contracts and performance grants. these agreements include various quantitiative and qualitative milestones and performance conditions to be met in order for the Charity to have entitlement to the funds. The Charity makes various assumptions in determing the stage of completion of these contracts and performance grants.
4. Income from donations and legacies
| Donations Total 2024 |
Unrestricted funds 2025 £ 613,327 715,997 |
Restricted funds 2025 £ 119,768 118,126 |
Total funds 2025 £ 733,095 834,123 |
Total funds 2024 £ 834,123 |
|---|---|---|---|---|
5. Incoming resources from charitable activities
| Theatrical Activities Total 2024 |
Unrestricted funds 2025 £ 330,114 241,332 |
Total funds 2025 £ 330,114 241,332 |
Total funds 2024 £ 241,332 |
|---|---|---|---|
Page 29
(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 6. Investment income Bank interest received Total 2024 7. Expenditure on raising funds Costs of raising voluntary income Fundraising fees Total 2024 |
Unrestricted funds 2025 £ 377 550 Unrestricted funds 2025 £ 3,576 2,806 |
Total funds 2025 £ 377 550 Total funds 2025 £ 3,576 2,806 |
Total funds 2024 £ 550 |
|---|---|---|---|
| Total funds 2024 £ 2,806 |
|||
8. Analysis of expenditure by activities
| Theatrical Activities Total 2024 |
Activities undertaken directly 2025 £ 951,694 779,018 |
Support costs 2025 £ 257,705 255,128 |
Total funds 2025 £ 1,209,399 1,034,146 |
Total funds 2024 £ 1,034,146 |
|---|---|---|---|---|
Page 30
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
8. Analysis of expenditure by activities (continued)
Analysis of direct costs
| Wages and salaries Production costs Marketing Consultancy Production wages Total 2024 Analysis of support costs Depreciation Rent Premises costs Legal & professional Other costs Total 2024 |
Theatrical Activities 2025 £ 383,209 350,823 111,760 17,925 87,977 951,694 779,018 Theatrical Activities 2025 £ 6,749 50,400 69,195 45,857 85,504 257,705 255,128 |
Total funds 2025 £ 383,209 350,823 111,760 17,925 87,977 951,694 779,018 Total funds 2025 £ 6,749 50,400 69,195 45,857 85,504 257,705 255,128 |
Total funds 2024 £ 362,444 233,110 98,925 25,350 59,189 |
|---|---|---|---|
| 779,018 | |||
| Total funds 2024 £ 6,749 50,400 84,464 26,807 86,708 |
|||
| 255,128 | |||
During the year ended 30 September 2025, the Charity incurred Governance costs of £16,000 (2024 - £16,000) included within the table above in respect of audit fees in 2025.
Page 31
(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
9. Staff costs
| Wages and salaries Social security costs Other pension costs |
2025 £ 363,531 11,390 8,288 383,209 |
2024 £ 332,961 21,871 7,612 |
|---|---|---|
| 362,444 |
The average number of persons employed by the Charity during the year was as follows:
| Management Performance |
2025 No. 2 6 8 |
2024 No. 2 6 |
|---|---|---|
| 8 |
The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:
In the band £60,001 - £70,000
| 2025 | 2024 |
|---|---|
| No. | No. |
| 1 | 1 |
The total employment benefits provided to key management personnel of the Charity was £65,039 (2024: £60,083)
10. Trustees' remuneration and expenses
During the year, no Trustees received any remuneration or other benefits (2024 - £NIL) .
During the year ended 30 September 2025, no Trustee expenses have been incurred (2024 - £NIL) .
Page 32
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
| 11. Tangible fixed assets Cost or valuation At 1 October 2024 At 30 September 2025 Depreciation At 1 October 2024 Charge for the year At 30 September 2025 Net book value At 30 September 2025 At 30 September 2024 12. Debtors Due within one year Trade debtors Other debtors |
2025 £ 5,869 23,625 29,494 |
Fixtures and fittings £ 33,744 |
|---|---|---|
| 33,744 | ||
| 21,935 6,749 |
||
| 28,684 | ||
| 5,060 | ||
| 11,809 | ||
| 2024 £ - 43,827 43,827 |
Page 33
THE PRINT ROOM THEATRE
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
13. Creditors: Amounts falling due within one year
| Trade creditors Other taxation and social security Other creditors Accruals and deferred income Deferred income Resources deferred during the year |
2025 £ 75,756 6,798 10,863 154,729 248,146 2025 £ 121,406 |
2024 £ 50,301 18,506 15,102 18,082 |
|---|---|---|
| 101,991 | ||
| 2024 £ - |
Deferred income related to income in relation to shows occuring in the following year.
Page 34
(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
14. Statement of funds
Statement of funds - current year
| Unrestricted funds General Funds - all funds Restricted funds Renovation T.S. Elliot Foundation Norwegian Embassy Sasakawa Private Programme Donations AKO Foundation Royal Victoria The Norwegian Ibsen Company Shizuoka Performing Arts Center Total of funds |
Balance at 1 October 2024 £ (9,220) 19,938 - - - - - - - - 19,938 10,718 |
Income £ 943,818 - 8,000 8,875 9,153 23,000 26,000 1,666 15,893 27,181 119,768 1,063,586 |
Expenditure £ (1,093,207) - (8,000) (8,875) (9,153) (23,000) (26,000) (1,666) (15,893) (27,181) (119,768) (1,212,975) |
Balance at 30 September 2025 £ (158,609) 19,938 - - - - - - - - 19,938 (138,671) |
|---|---|---|---|---|
Page 35
(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
14. Statement of funds (continued) Statement of funds - prior year
| Unrestricted funds General Funds - all funds Restricted funds Renovation T.S. Elliot Foundation Austrian Cultural Forum Instituto Cervantes Daniele Derossi Swiss Cultural - MEK Kultur LX Spain, Sociedad Mercantil Estatal de Acción Cultural SA Taipei Representative Office Italian Institute Arts Council Goethe Institute British Korean Society Total of funds |
Balance at 1 October 2023 - as restated £ (48,273) 19,938 - - - - - - - - - - - - 19,938 (28,335) |
Income £ 957,879 - 3,000 870 1,000 850 3,000 2,038 464 73,000 1,000 27,685 4,219 1,000 118,126 1,076,005 |
Expenditure £ (918,826) - (3,000) (870) (1,000) (850) (3,000) (2,038) (464) (73,000) (1,000) (27,685) (4,219) (1,000) (118,126) (1,036,952) |
Balance at 30 September 2024 £ (9,220) 19,938 - - - - - - - - - - - - 19,938 10,718 |
|---|---|---|---|---|
Page 36
(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
14. Statement of funds (continued)
The restricted funds this year related to:
-
Renovation - Contribution towards renovation costs of the Theatre.
-
T.S. Elliot Foundation grant towards readers fees in relation to poetry events at the Theatre.
-
Norwegian Embassy - Contribution to the running costs of Einkvan.
-
Sasakawa - Contribution to the running costs of Teshigawara 2025.
-
Private Programme Donations - Contributions to private programmes in the year.
-
AKO Foundation - Contribution to the running costs of Einkvan.
-
Royal Victoria - Contribution to the running costs of Einkvan.
-
The Norwegian Ibsen Company - Contribution to the running costs of Wild Duck.
-
Shizuoka Performing Arts Council - Contribution to the running costs of Medea.
The restricted funds in the prior year related to:
-
Renovation - Contribution towards renovation costs of the Theatre.
-
T.S. Elliot Foundation grant towards readers fees in relation to poetry events at the Theatre.
-
Austrian Cultural Forum - Contribution to the running costs of the Yellow Wallpaper.
-
Instituto Cervantes - Contribution to the running costs of Paula Quintarna.
-
Daniele Derossi - Contribution to the running costs of Luigia Riva.
-
Swiss Cultural - Contribution to the running costs of Company MEK.
-
Kultur LX - Contribution to the running costs of Lovefool.
-
Spain, Sociedad Mercantil Estatal de Acción Cultural SA - Contribution to the running costs of Paula Quintarna.
-
Taipei Representative Office - Contribution to the running costs of the Taiwan Festival.
-
Italian Institute - Contribution to the running costs of the Italian Literary Festival.
-
Arts Council - Contribution to the running costs of the Taiwan Festival.
-
Goethe Insitute - Contribution to the running costs of the Berliner Ensemble.
-
British Korean Society - Contribution to the running costs of Tacit Group.
15. Analysis of net assets between funds
Analysis of net assets between funds - current year
| Tangible fixed assets Current assets Creditors due within one year Total |
Unrestricted funds 2025 £ 5,060 84,477 (248,146) (158,609) |
Restricted funds 2025 £ - 19,938 - 19,938 |
Total funds 2025 £ 5,060 104,415 (248,146) (138,671) |
|---|---|---|---|
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(A Company Limited by Guarantee)
THE PRINT ROOM THEATRE
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
16. Reconciliation of net movement in funds to net cash flow from operating activities
| Net income/expenditure for the year (as per Statement Activities) Adjustments for: Depreciation charges Dividends, interests and rents from investments Increase in debtors Increase in creditors Net cash provided by operating activities 17. Analysis of cash and cash equivalents Cash in hand Total cash and cash equivalents 18. Analysis of changes in net debt At 1 October 2024 £ Cash at bank and in hand 57,073 57,073 |
of Financial Cash flows £ 17,675 17,675 |
2025 £ (149,389) 6,749 (173) 14,333 146,155 17,675 2025 £ 74,921 74,921 Interest Receivable £ 173 173 |
2024 £ 39,053 6,749 (238) (28,554) (56,103) (39,093) 2024 £ 57,073 57,073 At 30 September 2025 £ 74,921 74,921 |
|---|---|---|---|
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THE PRINT ROOM THEATRE (A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025
19. Pension commitments
The Charity operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Charity in an independently administered fund. The pension cost charge represents contributions payable by the Charity to the fund and amounted to £8,288 (2024: £7,612). Contributions totalling £1,871 (2024: £1,639). were payable to the fund at the balance sheet date and are included in creditors.
20. Related party transactions
During the year, the Charity received donations totalling £571,000 (2024: £600,000) from trustees.
At the balance sheet date, an amount totalling £15,933 (2024: £3,750) was owed by the Charity to Coronet Ondine LLP, a partnership of trustees A and W T Winters, and is included within trade creditors due within one year. An amount totalling £2,702 (2024: £nil) was owed to the Charity by Coronet Ondine LLP, and is included within trade debtors.
The Charity occupies premises at The Coronet in Notting Hill. The property is owned by Coronet Ondine LLP, a Limited Liability Partnership of which A and W T Winters, two trustees of the Charity, are the members. Coronet Ondine LLP charged the charity an amount of £118,502 (2024: £134,282) in the year for rent and service charge.
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