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2025-03-31-accounts

Charity registration number 1145989

Company registration number 07739274 (England and Wales)

TRAFALGAR ENTERTAINMENT TRUST

ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD ENDED 29 MARCH 2025

TRAFALGAR ENTERTAINMENT TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees N W Humby H J Enright K S H Gartzke A Hill J K Nicholls Charity number 1145989 Company number 07739274 Principal address 12th Floor, Export House 5 Henry Plaza Victora Way Woking GU21 6QX Registered office Ashcombe Court Woolsack Way Godalming Surrey United Kingdom GU7 1LQ Independent examiner Alex Temlett CA ACA CTA Azets Audit Services Ashcombe Court Woolsack Way Godalming Surrey United Kingdom GU7 1LQ

TRAFALGAR ENTERTAINMENT TRUST

CONTENTS

Page
Trustees report 1 - 4
Independent examiner's report 5
Statement of financial activities 6
Balance sheet 7
Statement of cash flows 8
Notes to the financial statements 9 - 18

TRAFALGAR ENTERTAINMENT TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE PERIOD ENDED 29 MARCH 2025

The trustees present their annual report together with the financial statements of the Trust for the period 31 March 2024 to 29 March 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 the Republic of Ireland (FRS 102) (effective 1 January 2019).

Objectives and activities

a. Policies and objectives

Trafalgar Entertainment Trust ("the Trust") provides performing arts, education and creative learning activities in theatres and concert halls. The object of the Trust is to preserve our arts heritage, both buildings and content and advance the education and appreciation of the public in the arts in all forms and in the associated theatrical activities, with a particular focus on, but not limited to, children and young people.

b. Strategies for achieving objectives

Objectives of the Trust will be achieved through performances (e.g. youth theatre productions, schools outreach programmes and youth drama workshops) as well as creative activities for adults and elderly people (e.g. dementia friendly film screening and community choirs) and other means as the Trust may determine to best fulfill and forward its charitable objectives.

c. Activities undertaken to achieve objectives

Trafalgar Entertainment Trust will continue to support a range of arts educational and outreach activities with the aim of increasing public engagement in the arts. The established nationwide programme of summer youth projects will continue. The Trust will continue to identify opportunities to further education in the arts. New initiatives will be trialled in the venues to bring arts educational projects to new audiences.

Achievements and performance

Review of activities

From April 2024 to March 2025, Creative Learning performances and activity in the venues continued at slightly reduced engagement levels, as Trafalgar Entertainment Trust did not renew contracts on it’s venues in Hastings and Hayes and therefore the overall engagement levels were affected. Summer Youth Projects saw an increase in young people auditioning to participate again, with Fareham producing them for the first time. 730 participants took part in the Summer Youth Projects and West End Experiences with 689 performers and 41 technical placements made. The performances attracted over 8,500 audience attendees in addition to funding and sponsorship of £29,296. Our third Creative Learning Annual Report was produced illustrating the impact and content of all activity delivered across the venues with 139 performances produced (30 less than previous year) attracting 17,129 audience members (12,000 less than previous year) and creating over 1,500 workshops (400 less than previous year).

Going Concern

After making appropriate enquiries, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

Reserves policy

As at 29 March 2025, there were unrestricted funds of £299,372 (30 March 2024: £290,292) and a surplus of nil of restricted funds (30 March 2024: surplus of £1,865). The unrestricted funds are available for use at the discretion of the trustees in the furtherance of the general objectives of the Trust which have not been designated for other purposes. The restricted reserves are designated for funding specific projects as specified by the donor.

Principal funding

The principal funding sources of the Trust were from local authority grants and from ticket sales for Summer Youth Project productions. The primary expenditure was on delivering arts and education projects which is in line with the key objectives of the Trust.

TRAFALGAR ENTERTAINMENT TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

Vision and Strategy statement

Who we are

The charity’s principal objective is to advance the education and appreciation of the arts in all forms. The charity provides access to the arts by offering a wide range of creative and participatory activities that are responsive to the needs of the diverse communities we serve. The charity is committed to ensuring that its activities are accessible to everyone regardless of age, ability, gender, race or socio-economic background. The charity uses the creative resources of Trafalgar Entertainment (and other operators where available) - people, buildings and content - to develop the next generation of arts practitioners and their audiences. Founded in August 2011 and regulated by the Charity Commission. The Charity is listed in the Central Register of Charities as Registered Charity Number 1145989.

Principal Objective as stated in the Articles

To advance the education and appreciation of the public in the arts in all forms and in associated theatrical activities, in particular among children and young people, through the provision of workshops, performances and by such other means as the charity trustees may determine.

Vision - what we will do

We will offer a wide range of creative experiences to widen access to the arts, providing lifelong learning opportunities for all. We will use creative learning programmes to bring communities together, celebrating diversity, reducing isolation and exclusion and contributing to individuals’ well-being and resilience. We will offer young people opportunities to participate in the arts and nurture their individual creative talent, developing their confidence and skills. We will preserve our arts heritage - both buildings and content - while developing the next generation of arts practitioners and their audiences in order to create a sustainable future for the arts. We will grow a network of theatre operators, supporters, donors and partners who share our vision to develop our work for the benefit of the communities we serve.

Values - the principles that guide our work

Creativity - Collaboration - Excellence - Respect

• We believe that the arts bring people together, providing a means to connect individuals and cultures.

• We believe that the arts benefit from nurturing the creativity of a diverse group of individuals and that opening up training and educational opportunities will result in a more vibrant, relevant and sustainable arts sector.

• We aim for excellence in everything we do.

TRAFALGAR ENTERTAINMENT TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

Our objectives

• We will provide creative learning programmes that are responsive to the communities we serve, including in areas such as health and social care, aiming to reduce isolation and exclusion and contribute to well-being and social cohesion.

We will continue to consolidate and develop robust governance for the Trust, producing a business plan for the next three years of operation and a strong brand. We will bring together creative learning activities with Trafalgar Entertainment and other theatre operators to ensure that programmes reflect the Trust’s objectives. We will strengthen relationships with current funders and research new sources of funding, building programmes that respond to local needs and priorities.

Structure, governance and management

a. Constitution

Trafalgar Entertainment Trust is a charitable company limited by guarantee, with registered charity number 1145989. The Trust's governing documents are the Memorandum and Articles of Association.

N W Humby (Appointed 18 March 2025)
H J Enright
K S H Gartzke
A Hill
R N Morgan (Resigned 23 July 2024)
J K Nicholls
Dame R A Squire (Resigned 28 November 2025)

b. Methods of appointment or election of trustees

New trustees are invited to join the board on the basis of their knowledge of, and association with, the theatre industry, or for their technical expertise in fields which will assist in the furtherance of the objectives of the Trust. New trustees may be appointed by trustees and members in accordance with the Trust's Articles of Association.

The Trust's current policy concerning the payment of trade creditors is to follow the CBI's Prompt Payers Code (copies are available from the CBI, Centre Point, 103 New Oxford Street, London WC1A 1DU).

The Trust's current policy concerning the payment of trade creditors is to:

TRAFALGAR ENTERTAINMENT TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

c. Organisation structure and decision-making policies

The Trust is governed by a board of trustees which is responsible for setting the strategic direction of the Trust and for establishing policy. The trustees meet as often as required for the operation of the Trust.

d. Related party relationships

The trustees and the related parties of its sole member Trafalgar UK Theatres Holdings Limited have been identified as related parties of the Trust. A list of all related party transactions can be found in Note 14 of these financial statements.

Funds held as custodian trustee

e. Financial risk management

The trustees have assessed the major risks to which the Trust is exposed, in particular those related to the operation and finances of the Trust, and are satisfied that systems and procedures are in place to mitigate exposure to the major risks.

The Trustees report was approved by the Board of Trustees.

N W Humby

27 January 2026

TRAFALGAR ENTERTAINMENT TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF TRAFALGAR ENTERTAINMENT TRUST

I report to the Trustees on my examination of the financial statements of Trafalgar Entertainment Trust (the Charity) for the period ended 29 March 2025.

Responsibilities and basis of report

As the Trustees of the Charity (and also its directors for the purposes of company law), you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Charity are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Charity’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

Since the Charity’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

A J Temlett CA ACA CTA Azets Audit Services Limited Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ United Kingdom

Dated: 29 January 2026

TRAFALGAR ENTERTAINMENT TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE PERIOD ENDED 29 MARCH 2025

Unrestricted
Restricted
funds
funds
2025
2025
Notes
£
£
Income from:
Donations and
legacies
2
179,451
25,074
Charitable activities
3
454,534
-
Total income
633,985
25,074
Expenditure on:
Charitable activities
4
624,905
26,939
Net income/(expenditure)
for the period/
Net movement in funds
9,080
(1,865)
Total funds brought forward
290,292
1,865
Total funds carried
forward
299,372
-		 Total
Unrestricted
Restricted
Total
funds
funds
2025
2024
2024
2024
£
£
£
£
204,525
9,985
29,792
39,777
454,534
447,479
-
447,479
659,059
457,464
29,792
487,256
651,844
658,330
30,177
688,507
7,215
(200,866)
(385)
(201,251)
292,157
491,158
2,250
493,408
299,372
290,292
1,865
292,157

The statement of financial activities includes all gains and losses recognised in the period.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

TRAFALGAR ENTERTAINMENT TRUST

BALANCE SHEET

AS AT 29 MARCH 2025

2025
Notes
£
Fixed assets
Intangible assets
9
Tangible assets
10
Current assets
Debtors
11
728,726
Cash at bank and in hand
191,038
919,764
Creditors: amounts falling due within
one year
12
(626,877)
Net current assets
Total assets less current liabilities
Income funds
Restricted funds
Unrestricted funds		 2024
£
£
5,300
1,185
6,485
476,222
79,041
555,263
(263,106)
292,887
299,372
-
299,372
299,372		 £
-
-
-
292,157
292,157
1,865
290,292
292,157

The company is entitled to the exemption from the audit requirement, contained in section 477 of the Companies Act 2006, for the period ended 29 March 2025.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Trustees on 27 January 2026

N W Humby Trustee

Company registration number 07739274

TRAFALGAR ENTERTAINMENT TRUST

STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED 29 MARCH 2025

Notes
Cash flows from operating activities
Cash generated from operations
16
Investing activities
Purchase of intangible assets
Purchase of tangible fixed assets
Repayment of investment loans and
receivables
Net cash used in investing activities
Net cash used in financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period		 2025
£
(6,000)
(1,580)
(50,000)		 £
169,577
(57,580)
-
111,997
79,041
191,038		 2024
£
-
-
-		 £
34,534
-
-
34,534
44,507
79,041

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 29 MARCH 2025

1 Accounting policies

Charity information

Trafalgar Entertainment Trust, incorporated in England and Wales, is a company limited by guarantee and consequently does not have share capital.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Charity's governing document, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)" (effective 1 January 2019). The Charity is a Public Benefit Entity as defined by FRS 102.

The financial statements are prepared in sterling, which is the functional currency of the Charity. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

After making appropriate enquiries, the Trustees have reasonably concluded that current and future sources of funding or support will be more than adequate for the charitable company’s needs for at least the next 12 months. For this reason, they continue to adopt the going concern basis in preparing the financial statements.

1.3 Charitable funds

General funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the Trust 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 Trust 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.

1.4 Income

All income is recognised once the Trust has entitlement to the income, it is probable that the income will be received and the amount of the income receivable can be measured reliably.

Donated services or facilities are recognised when the Trust has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use of the Trust of the item is probable and that economic benefit can be measured reliably. In accordance with the Charities SORP (FRS 102), the general volunteer time of the Friends of the Trust is not recognised.

On receipt, donated professional services and donated facilities are recognised on the basis of value of the gift to the Trust which is the amount the Trust would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

1 Accounting policies

(Continued)

1.5 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 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. Shared costs which contribute to more than one activity and support costs which are attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Trust's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

1.6 Intangible fixed assets other than goodwill

Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.

Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Software Straight line over 5 years

1.7 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Computers Straight line over 3 years

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.

1.8 Impairment of fixed assets

At each reporting end date, the Charity reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Cash and cash equivalents

Cash at bank and in hand includes cash and short-term higly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

1 Accounting policies

(Continued)

1.10 Financial instruments

The Trust 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.

1.11 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 discount due.

1.12 Creditors

Trade and other creditors are recognised at the settlement amount after any trade discount received. Accruals are valued at the amount accrued net of any trade discount received.

1.13 Pensions

The Trust operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Trust to the fund in respect of the period.

Total 2024 £ 35,583 4,194 39,777
Restricted funds 2024 £ 29,792 - 29,792
Unrestricted funds 2024 £ 5,791 4,194 9,985
Total 2025 £ 204,525 - 204,525
Restricted funds 2025 £ 25,074 - 25,074
Unrestricted funds 2025 £ 179,451 - 179,451
Donations and legacies Sponsorship income Government grants
2

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

3 Charitable income

Provision of Provision of
education education
2025 2024
£ £
Income from provision of education 454,534 447,479

4 Charitable expenditure

Provision of
education
Provision of
education
2025
2024
£
£
Activities undertaken directly to provide education
236,657
434,227
Share of support costs (see note 5)
388,591
245,030
Share of governance costs (see note 5)
26,596
9,250
651,844
688,507
Analysis by fund
Unrestricted funds
624,905
658,330
Restricted funds
26,939
30,177
651,844
688,507		 Provision of
education
Provision of
education
2025
2024
£
£
Activities undertaken directly to provide education
236,657
434,227
Share of support costs (see note 5)
388,591
245,030
Share of governance costs (see note 5)
26,596
9,250
651,844
688,507
Analysis by fund
Unrestricted funds
624,905
658,330
Restricted funds
26,939
30,177
651,844
688,507		 Provision of
education
Provision of
education
2025
2024
£
£
Activities undertaken directly to provide education
236,657
434,227
Share of support costs (see note 5)
388,591
245,030
Share of governance costs (see note 5)
26,596
9,250
651,844
688,507
Analysis by fund
Unrestricted funds
624,905
658,330
Restricted funds
26,939
30,177
651,844
688,507
2025
£
236,657
388,591
26,596
651,844
624,905
26,939
651,844		 2024
£
434,227
245,030
9,250
688,507
658,330
30,177
688,507

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

5 Support costs


Staff costs
Depreciation
Rates
Insurance
Light and heat
Bank charges
Other support costs
Entertainment
Travel and subsistence
Professional fees
Analysed between
Charitable activities		 Support
costs
Governance
costs
£
£
361,437
-
1,095
-
1,192
-
868
-
403
-
36
-
13,352
-
40
-
10,168
-
-
26,596
388,591
26,596
388,591
26,596		 2025

£
361,437
1,095
1,192
868
403
36
13,352
40
10,168
26,596
415,187
415,187		 Support
costs
Governance
costs
£
£
326,685
-
-
-
1,249
-
(64,476)
-
(19,976)
-
51
-
796
-
(500)
-
1,201
-
-
9,250
245,030
9,250
245,030
9,250		 2024
£
326,685
-
1,249
(64,476)
(19,976)
51
796
(500)
1,201
9,250
254,280
254,280

Governance costs include independent examination fees of £5,100 (2024: £4,850).

6 Trustees

Trustees' remuneration and expenses

During the period, no trustees received any remuneration or other benefits (period to 30 March 2024 - £nil). During the period, no trustee expenses have been incurred (period to 30 March 2024 - £nil).

7 Employees

The average monthly number of employees during the period was:

Employment costs
Wages and salaries
Social security costs
Other pension costs		 2025
Number
8
2025
£
317,424
30,263
13,750
361,437		 2024
Number
10
2024
£
292,966
25,941
7,778
326,685

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

7 Employees

(Continued)

The key management personnel of the Trust comprise the trustees. The total employee benefits of the key management personnel of the Trust were £nil (period to 30 March 2024 - £nil).

There were no employees whose annual remuneration was more than £60,000.

8 Taxation

The Trust is a registered charity and is therefore exempt from taxation.

9 Intangible fixed assets

Software
£
Cost
At 31 March 2024 -
Additions 6,000
At 29 March 2025 6,000
Amortisation and impairment
At 31 March 2024 -
Amortisation charged for the period 700
At 29 March 2025 700
Carrying amount
At 29 March 2025 5,300
At 30 March 2024 -
10 Tangible fixed assets
Computers
£
Cost
Additions 1,580
At 29 March 2025 1,580
Depreciation and impairment
Depreciation charged in the period 395
At 29 March 2025 395
Carrying amount
At 29 March 2025 1,185

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

11 Debtors

Debtors
Amounts falling due within one year:
Trade debtors
Amounts owed by fellow group undertakings
Other debtors
Prepayments and accrued income		 2025
£
186,966
217,122
50,000
274,638
728,726		 2024
£
177,317
250,345
21,160
27,400
476,222

At 29 March 2025 £nil (30 March 2024 - £nil) of the prepayments and accrued income related to restricted funds.

12 Creditors: amounts falling due within one year

Creditors: amounts falling due within one year
Other taxation and social security
Trade creditors
Amounts owed to fellow group undertakings
Other creditors
Accruals and deferred income		 2025
£
36,820
106,636
338,684
21,911
122,826
626,877		 2024
£
5,461
132,572
109,794
2,168
13,111
263,106

At 29 March 2025 £nil (30 March 2024 - £1,493) of the accruals and deferred income related to restricted funds.

13
Analysis of net assets between funds
Unrestricted
funds
Restricted
funds
2025
2025
£
£
Fund balances at 29
March 2025 are
represented by:
Intangible fixed assets
5,300
-
Tangible assets
1,185
-
Current assets/(liabilities)
292,887
-
299,372
-		 Total Unrestricted
funds
Restricted
funds
2025
2024
2024
£
£
£
5,300
-
-
1,185
-
-
292,887
290,292
1,865
299,372
290,292
1,865		 Total
2024
£
-
-
292,157
292,157

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

14 Related party transactions

During the period under review the following transactions took place with related parties:

The Trust made the following sales to group undertakings: - Trafalgar UK Theatres Hayes Limited - £22,032 (Mar 2024: £16,127) - Trafalgar UK Theatres Bromley Limited - £152,503 (Mar 2024: £62,780) - Trafalgar UK Theatres Guildford Limited - £32,310 (Mar 2024: £38,413)

The Trust received the following recharges from group undertakings: - Trafalgar UK Theatres Hayes Limited - £20,300 (Mar 2024: £45,836) - Trafalgar UK Theatres Bromley Limited - £8,447 (Mar 2024: £54,528) - Trafalgar UK Theatres Guildford Limited - £9,912 (Mar 2024: £38,924) - Trafalgar UK Theatres Crewe Limited - £339,929 (Mar 2024: £375,144) - Trafalgar UK Theatres Dartford Limited - £100,148 (Mar 2024: £65,642) - Trafalgar UK Theatres Southend Limited - £9,909 (Mar 2024: £67,789)

At the balance sheet date the following balances were owed to group undertakings: - HQ Hospitality Limited - £56,898 (Mar 2024: £56,898)

At the balance sheet date the following balances were owed by group undertakings: - Trafalgar UK Theatres Bromley Limited - £nil (Mar 2024: £13,000)

TRAFALGAR ENTERTAINMENT TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE PERIOD ENDED 29 MARCH 2025

15 Ultimate parent undertaking and controlling party

The sole member of the Trust is Trafalgar UK Theatres Holdings Limited.

Trafalgar Entertainment Group Limited heads the smallest and largest Group that produces publicly available consolidated financial statements incorporating the Trust. These financial statements are available from Companies House. The registered office of Trafalgar Entertainment Group Limited is Aschombe Court, Woolsack Way, Godalming, GU7 1LQ.

The ultimate controlling party is Barings Asset-Based Income Fund (US) LP, by virtue of its 80.14% holding in the issued share capital of Trafalgar Entertainment Group Limited.

16 Cash generated from operations 2025 2024
£ £
Surplus/(deficit) for the period 7,215 (201,251)
Adjustments for:
Amortisation and impairment of intangible assets 700 -
Depreciation and impairment of tangible fixed assets 395 -
Movements in working capital:
(Increase)/decrease in debtors (202,504) 719,323
Increase/(decrease) in creditors 363,771 (483,538)
Cash generated from operations 169,577 34,534