Company reelstration number: 07963026
Charity registration number: 1148489
THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
(A cornpany limited by guarantee)
ANNUAL REPORT
PERIOO ENDED 31 MARCH 2025

THE MONTGOMERY THEATRE AND ART5 CENTRE UMITED
ANNUAL REPORT
PERIOD ENDED 31 MARCH 2025
CONTENTS
Page
Directors. Report and Slralegic Report
Staiement of Trustee5' Re5pon5ibiliues
Independent Auditors. Report
AccoLtnting Polities
io
Statement of Financial Activities (including Income and Expendilure Account)
12
Bèlance Sheet
13
Siaiement of Cash Flows
14
Note5 to the Financial Staiements
15-24

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
DIREcfoRS' REPORT FOR THE PERIOD ENDING 31 MARCH 2025
The Trustees and Directors of the charitable company present their reporl alon8 With the financial statements of the charity for
the period ending 31 March 2025. The financial Statements have been prepared in accordance with the accounting policies set
out on page 10 of the financial statements and comply with the charity's Memoiandum and Article5 and appl¢cable law. Thè
tivstees b.ave adopted the provisions ol the Statement ol Retommertdèd Practice ISORPI "Accounling and Repoiting by
Charities" IFRS 1021 in preparing the annual ieport and financial Statements of the charitv.
Legal and administrat￿￿ details
Official name of charitw.
Charity reglstration number..
The Montgomery Theatre and Arts Cenire Limiied
1148489
Company re8isiratlon number-
07963026
Re815tered Office-
55 Norfolk Street
Sheffield
SI IDA
Directors and Trustees..
Mr James Gamett
Mr John Hudson
Mr Neil Macoonald OBE
Ms Sarah Mashford
Mrjohrt Pickering
Chief Executive..
Tom Bird
Banker5:
The Cowerative Bank
l Balloon Streel
Manchester
M4 4BE
CCiA Fund Managers
One Angel Lanè
London
EC4R 3AB
Audltors:
Hawsons Charteied Accovntants
Statutory Audilor
Pegasus House
4633 Glossop Road
Sheffield
SIO 2QD

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
DIREcfoRS' REPORT FOR ThE PERIOD ENDING 31 MARCH 2025 Icontinyedl
Strutture. Go¥ernance and Managernenl
Governing document
The Montgomery Theaire and Arts Centre Limited is a company limited by Buarantee governed by its Memorandum and Articles
of A550ciation dated 3 January 2025. It is register￿ as a thaiity with the Charily Cornrnission. Sheffield Theatres Trust is the
sole member of the Of8ani5ation and it has S truslee5.
Objects
The primary Obj￿15 of the charity specified in the Mernorandum and Articles of Association are to establish and maintain a
creative and performing arts centre foF the benefii of all.
OrganlsatSon
The board of tfustees. which must have fewer than 3 member5. administers charity- The ljoard meets Iwi¢e 3 year and
there are sub-commiltees covering finance and audit. human resour￿ and trustee nominations which meet more regularly. A
Chief Executive is appointed by the trustees to manage the day to day operations of the charity. To facilitate dfe¢tive
operations. the Chief Executive has delegated authorily. wiihin terms of dde8ation apkyoved by the trustees. for operational
matiers in¢ludin8 finance, employment and 3riistic pèrformance rdaied artivity.
Appointment of irustees
The Ifustees are nominated by Sheffield Theatres Trust.
Trustee Inductlon and trainin£
New trustees are rnvited to ihe r4istered office of The Monigomery Theatre and Afts Centre Limited to meet with the Senior
Management Tèam to brbef them on thar Iwl obligatK)ns undei charity and company law, the contènt of the Memorandum
and Articles of Association. thè commriiee and decision.making processes. Ihe business plan and iecent financial performahcè
ol the charity-
Publlc benefit
The board of trustèes have complied with ihe duty in section 4 of the Charilies Acl 2W6 to have due regard to public benefit
8uidancÈ published by the Commission.
The charity seeks to maximise attendance and partitipation in its a¢liwt￿ to ensure that audiencès are drawn from every socio
e(onomic groups and aBe ranges. It doe5 thts by athertisirE to the public through the media. print. Social network and reaching
out to the local community.
Risk management
The Trtsstees are committed to the identifKation and management of the rna￿( Sir31￿40 business and operational risk5 which
the f haiity faces. A multi.funaion ieam of manageis wiihin the organisation is tasked with communicating with all levels of the
orBanisation to identify risk and regularly update a detailed risk register identi￿"n8 likelihood and impact together with actions
necessary to rniligate the risk.
The princip31 risk relaies to the w5t of maintaining a hrstorK ¥t￿UE, and generating funds to ensure a consistent pro8ramme of
attlvities, accessible to all. The trustees and Senior management tèam are fulty aware ol these risks and monitC+r them regularly.
fielatéd partles
The Montgomery Theat￿ and Arts Centre Limited. City of Sheffield Theaire Trust. Sheffield Theatres Crucible Trust, Shellield
Crucible Produaions Ltd and Offstsge Ltd are all svbsidiarie5 of sheff￿ld Theaires Trust.

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
OIRECTORS. REPORT FOR THE PERIOD ENDING 31 MARCH 2025 Icontinuedl
Objectlves and adNitie5
The main objectives for the period are to esiablish maintain a creaiTrve and performinE ails centre foi the benefit of all.
The strategies employed to achLwe the charity's objeclives are lo:
offer opportunitles lora broad range of people io get involved in aris acEiVity exploring their own creative powers,.
provide facilitie5 for amateur an(J professional artists io develop. Groups in the City are giverb discounted rates for hire of
spate and access to professional advice-
concentrate on invofving young people in the arts lo help encourage a culture in whrch different age ranges play a
complimentary part,"
celebrate the dlverslty of cultures in our society by pro8rammin8 preseniations by. and with. artists oldiffÈrent Cultural
backgrounds..
present a broad range of arts work.
Strateglc Repwt
The Trustees present their Strate8K Report lor the period ended 31 March 2025.
hlevements and Performance
The Montgomery theatre c105ed in July 2023 to undergo an ambitious rede4elopment project to enable fvll a￿eSS to the theatre
for audience members and participants regardless of disability or mobility issues. Unforeseen construction related i55ve5
delayed the reopening of the theatre an(1 a15Q ifflpacted the capital budget. These issues 51emmed from unforeseen problems in
converting part5 of the burlding. whose orrginal labtic date5 back over I￿ years. and dealing with aspects of subsequent
alterations and modification5 that are no longer fit for purpose Tn public bulldings. A prime example is the extensive use of
asbèstC*S in constfuclion in the last centufy and the need to upgrade fire safety measurès such as fire resisiant door5 throughout
the buildbn8. The Monl8ornery iheatre reopened io ihe public in October 2024.
We are grateful for the support received from the funders of the Captt31 project.. Youth Investment Fund. Sheffield City Council.
Fulure High Steets Fund, Clothworkers, Foundation, Garfield We51on Foundation, The Architectural Heritage Fund and
Eversheds Sutherland. We are aly) grateful for the suppori ffom Yovth Investmeni Fund and Sheffield City Council ioward5 the
unexpected addilional Costs.
The period ha5 seen the charity join the Sheffield Theat￿5 group on 3. January 2025. and as such all functions of pro8rammin8
and contenl generation for the charity are run by Ihe ST team. The Sheffidd Theatres Arii5tic Dirertor IEliiabeth Newman) and
CEO (Tom 8irdl met with representatives from 311 the communTrty theatre companies thal use the Montgomeiy on a regular
basis and established that the Montgomery woukl coniinue to be a home for their work Into the future.
Pro8Tamrning has a)lltinued to take place al(Jngyde ongoing re(levelopmenl work5 We are delighted that a number of
participation sessK)n4 have returnèd to the buildin& svth as SBC'S Youth Theatre of Sancluary.
Sheffield Theatres is overjoyed to have inauguraied a targeted Youth Theat￿ of its own1STYn ihat is free to V5e and developed
for participants who may have limited a(￿5 lo the ait5.
Future Plans
Sheffield Theatres has developed a vision for ihe Montyomery as a beacon ol creatfve participation for everyone from South
Yorkshire, no matter their age or background. It will honour the legacy ol James Montgomery by insistinB that everyone has the
right to enjoy the benefits of a creative life.
We will continue to invest in programmes to populate the building wrlh 3 wrde range of artistic activities. as well as contlnuln8 tg
invest in the fabric of the bvilding and oflering it as a home for cilywide events such as Do¢Fest, Crossed Wires and Migratiorh
Matters.
Flnanci31 revlew
The financial perform6n¢È in 2024125 is a surplus of unrestricte(I lund50f £69,57012023.' surplus £12.6141.

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
DIRECTORS, REPORT FOR THE PERIOD ENDING 31 MARCH 2025 (continued)
Investment powers and pollcy
Under the Mernorandum and Articles of Association, the charily has the power to invest in any way the trustees wish.
Reserves policy
The company 15 part of the Sheffield Theatres Trust group and its reserves are taken into attount as part of thè Broup'5 reserves
policy. The Montgomèry theatre is a 420 seat5 theatre, Iwilt in 1886 and requiring a high level of upkeep. Certain reserves h3ve
been desi8n3ted for future unforeseen major repairs as set out in not* 10.
Directors
The directors. who are also trustees of the charity. during the period and to the dale Of this report were as lollows..
Nominated by Sheffield Thèaires Trust since 3 January 2025
Mr Smart Banda Iresigned 12 September 20241
Ms Linda 81oomfidd (resigned 24 March 20241
Mr David Campbell (resigned 3 January 20251
Mr James Garnett13ppointed 3 January 20251
Mr John Hudson
Mr Glyn Jones (rèsigned 3 January 20251
Dame Julie Ann Kenny DBE DL (appointed 3 January 2025,. deceased 21 February 20251
Mr Nerl MacDonald OBE lappoinled 3 January 20251
Ms Sarah Mashford
Mr John Pickering (appointed 3 January 20251

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITEO
DIRECTORS. REPORT FOR THE PERIOD ENDING 31 MARCH 2025 (continued)
Constitution
The company ￿ a company Iirnited by guarantee and nol hawng a share capital. Eath member gives a guarantee to contribute a
Sum not exceedin8 £1 to the company should it be wound up. At 31 March 2025 there were S members.
Statement of Trustees. Responsibilities
The tru51ees (who are also directors of The Montgomery Thealre and Arts Centre Limited for the purposes ol company lawl are
responsible for preparin8 the Trustees. Annual Report IincludinB the Strategrc Report) and the financial statements in
accordarbce with applirable law and United King(Jom Accounting Standards (united Xingdom Generally Accepted Accounting
Practice).
Company law requires the trustees to prepare financial 513lemen15 for each financial year. Under company law the trustees
must not approve the financial statements unless they are satisfied that they give a true and fair view ol ihe state of affairs of
the eharilable company and of ihe incornin8 resource5 and application of resources. including the income and expenditure, of
the charirable company for that period. In preparin8 these financial statements. the trust￿ afe rÈquired to..
select suitable accouniing poli¢ies and then apply thern ¢onsisientty-
observe the methods and principles in the Charitie5 SORP 2019 IFRS 1021-
make judgements and estimates that are reasonable and prudenl..
state whether applicable UK Accounting Standards have been followed..
prepare the financial sratements on the going concern basis unlèss il is inappropriate to presurne that the charitable
company will continue in operation.
The trustees are responsible for keeping adequate accounting rec￿d$ Ihat disdose with reasonable accurary at any time the
financial position of the charitable company and enable them to ensure that the financial siatements comply with the
Cc>mpanies Act 2006. Thèy are also responsible for safeguarding ihe èssets of the charilable company and hence for taking
reasonable step5 for the prevention and detection of fraud and other irregvlarities.
Statement of dlsdosure of Informatlon to audltors
In so far as Ihe trustees are aware".
Ihere is no relevont audit information of which the charitable company's auditors are vnaware- and
the trustees have taken all steps that they ought io have iaken to make themselvès awarÈ of any relevant audit
inform4tlgn and to establish that the auditor 15 aware olthat information
In appro¥lng the Tn45tees' Annual Report. we also approve the Strateglc Report Induded thereln, In our capadty as company
dlrettors.
Si8ned tsn bèhalf of the board
Mr Neil MacDonald OBE
The Montgomery Theatre and Arts Centre IAmlted

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
INDEPENOENT AUDITORS, REPORT TO THE TRUSTEES OF THE MONTGOMERY THEATRE AND ARTS CENTRE
LIMITED
Oplnion
We have audited the financial statements of The Monigomery Thè3tre and Arts Centre Limiied Ithe 'charitable tompany'l for
the period ended 31 March 2025 which comprise the statement of financial activitie5 lincorporèting ihe income and expenditure
accounil, the balance sheet, Ihe statemeni of cash flows and notes to the financial statemenls, including a summary of
significani accouniing polities. The financial reporting framework that has bèen applied in their preparation is applicable law and
United Kingdom Accounting Standards. inclvding Financial ftepoiting Standard 102 The Firtanc￿l Reporting Stondord applicuble
In the UK ond Republic of Irelond (united Kivbgdom Generally Accepted Accounting Practice).
In our opinion the financial siatements..
give a true and fair view of the state of the Charitab￿ compan(s affairs as at 31 March 2025 and ol its intoming resources
and application of resource5. including it5 itKome and expendsture. for ihe period then ended,.
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practitè- and
have been prepared in accordance with the requirements of the Companies 20D6.
Basis for opinion
We conducted our audit in accordance with International Standard5 on AuditinÉ IUKI 11SAs IUKII and applicable law. Our
re5pon5ibilities under those 5tandard$ are furiher described in the Auditorfs iespon5ibilities for the audit of the financial
statements section of our report. We arè independent of the charitable tompany in accordance with the eihlcal requicements
that are relevant to our audit of the financial staiemèn15 In the UK. includin8 the FRC'S Ethical Standard. and we have fulfilled
our other ethical responsibilities in accordance with these reouirernents. We believe that the audit e¥idence we have obtained
is sufficient arml appropriaie to provide a basls for our opinion.
conclus1￿% relating to going concern
In auditing the finarbcial statements. we have concluded thai the trusiees. use of the goin8 concern basis of accountin8 in the
preparatim of the fInanc￿al statements is appropriate.
Based on the work we have performed. we have noi ideniified any material ullcertainties relatrn8 lo events or conditions that,
Individually Of collectively. may cast %￿nificant doLtbt on ihe charitable company's abj.lity to continue as a going concèrn for
per40d ol at least twelve months from when the financial siatements are autho¥i5ed for I55ue.
Our responsib5lilies and the responsibilities of ihe tru51ees wih respect tQ8oin8 concern are described in the relevant seciions
of ihis report.
Other 5nformation
The oiher information comprises the information indu(led in the trustee5' annual report, other than the financial statements
and our auditor'5 repori ihèreon. The irustees are responsible lor the other snformation contained wiihln the annu31 report. Our
opinion on the financial 5tatemenis does noi covei the other informaiion and. except to the extènt othenwi5e explicitly Slated in
our report, we do nol express any form of assurance tondusion thereon. Our responsibility is to read the other information and.
in doing so. considèr whether the othèr ￿fOrMatIon is materially Inconsisient wih the financi31 statement5 or our knowledge
obtained in the course of the audit or otherwise appear5 10 be marerialty rTbi55tated. If we identtfy such material inconsistencies
or apparent rnaterial mi5Slatements. we are required to determine whether this gives rise to a material misstatemenl in ihe
fin3n¢ial statements themselves. If. based on the work we have performed. we condude that there is a maierial misstatement
of this other inlom13tion. we are required to report thai fact.
We have nothing to report in this regard.

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEESOF THE MONTGOMERYTHEATRE AND ARTS CENTRE LIMITED
(continued)
Oplnions on other matters prexribed by the CompanSes Act 2006
In our opinion, based on Ihe work vndertaken in the course ol the audit..
the information given in the trustees. report lincorporating the straiegic report and the directors. ieportl for the finanoal
period for which the financial stalements are prepared is ¢onslStent with the financial statements: and
the strategic report and the directOf5' report have been prepared in accordance with applicable legal requirements.
Maiters on which we are required to report by exceptlon
In the light ol our knowledge and understanding of the charitable company and its environment obiaine(l in the course of the
audit, we have not identified material mi5Statements in the strategic report and the dire¢rors' report.
We have nothing to report in respect of the following malters in relation to which the Companies Act 2006 requires us to report
io you il. lrt our opinion..
adequate accounting records have not been kepl. or returns adequate for our audit have not been receive¢J from branche5
not visited by us: or
the financial statemertts are not in agreement with the accounting records and returns,. or
certain disclosures of directors. remuneralion specified by law are noi made,. or
we have nol received all the infwmaiiL)n anil explanations we require for our audit.
Responslbilities of trustees
As explained more lully in the trusteès. responsibilities statement set oui on page 5. Ihe trv5Eee5 Iwho are also the direciors of
the charitable company for the purp05es of company lawl afe responsible for the weparation of the financial 5tatemenls and for
being $3tisfied that they give a true and fair view. and fgT such internal control as the trusiees determine 15 necessary to enable
the preparation of finanoal statements that are free from material misstatement. whether due to fraud or error.
In preparing the financial 5taternents. the trustee5 are responsible for assessing the Charitable company's ability to continue as a
80ing eoncèrn, disdosin8, as applicable, matters related to going concern and usin8 the going concem basis of accounting vnless
the Iru5tee5 either intend to liquidate the charitablè company or to ￿ase opeiations. or have no realistic alternative Iwt to do
so.

THE MONTGOMERY THEATRE AND ARTS CENTRE UMITEO
INDEPENDENT AUDITORS. REPORT TO THE TRUSTEES OF ThE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
(continued)
Audlto¢s responslbillties for the audit of the financlal statemènts
Our obje¢tives are io obiain reasonable assurance about whether thefinancial siatements as a whole are free from rnateri31
ffl15St3tement. whether due to fraud or error. and to issue an audilor's report t￿1 include5 our opinion. Reasonable èssurance is
a hiBh level ol assurance. bvf is not a 8yarantee that an audit wnducted In accordance with ISAS IUKI will always detect a
material misstatement when it exisls. Misstaiemenis can arise from fraud or error and are considered rnaterial if. individually or
In thè aggregate. they could reasonably be expecte(I to influence ihe economic decisions of users taken on the basis of thest
financial Statements.
The exrent io which our procedures are capable ol delectinB Irregularities. Induding fraud is detailed below:
The chaiirable company is subiert to13ws and regulations that dirtctly and indirectty affect the financial statements. 83sed on
our undersiandin6 of the charity and the environmeni il operate5 wiihin. we determined that thè laws and fe8ulations which
were most significant included FRS 102 and the Companies Att 2LI)6. We Consid￿ed the extent to which non.compliance wilh
these laws and regulations mi8hi have a marerial effect on the financial statemènts, induding how fraud might occur. We
evaluated managÈment'5 incentives and opportvnilies for frauduleni manipulation of the financtal ststements lincluding the risk
of override ol controls). and dèterminèd ihat the principal risks were related io the posting of inappropriate journal entries to
impiove the charitvs result for the period. and managernent bias in key accounting estimates.
Audit procedures performed by the engagement tearn induded-.
Discussions with managemeni and those responsilAe for legal Complian￿ procedures within the charitable company lo
obtain an understandin8 of the le831 and regulato¥y framewofk applicable io the charity and how the charity complies with
that framework. induding consideration of known or Suspected instancès of non<0mplian￿ with laws and fegulations and
frauLI.-
Reviewin8 minutes of Trustee meettngs-
Identlfyin8 and assessing thè desiEn effettiveness ol controls that management has in place io prevent and detect fraud and
non-compliance wilh law5 and regulations.
Challen8lng assumptions and judgemenis made by management in their swdnifi¢ant accounting estimates.
Identifytng and testing journal entries, in particular any journal entries posted with unusual ac¢ount combinations or posted
by senkjr managèrnent.
A lurther description of our responsibilities is available on the Financial Reporiin8 Covncil's web51te at
www.frc.or8.uVauditors/audit-assUfan￿/aud1tOr-s-re5pQnsibIlitI&s-for-the-aud11-Q[-1he-fIldeS£rlptio￿-Of-lhe-audIt0rfs-
responsibilities-for. This description form5 Part of our audilorfs report.

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
INDEPENDENT AUDITORS, REPORT TO THE TRUSTEES OF THE MONTGOMER Y THEATRE AND ARTS CENTRE LIMITED
Icontinuedl
Use of oui report
This report As made solely to ihe charitable company's members. as a body. in accordance with Chapter 3 of Part 16 ¢f the
Compan￿$ Aci 2006. Oui 3udit work has been undertaken so ihat we mi8ht state to Ihe charitable company'5 members those
matters we are required to state to them in an audttor's report and fw no other purpose. To the fullest extent permitted by
law, we do not accept or assume responsibiliiy to anyone other than the charitable company and the chariiable company's
embws as a body. for our audit work, for thi5 report. or for ihe opinions we have formed.
Simon Bladen. Senior Statutory Auditor
For and on behalf of Hawsons Chartered A¢countartts. Statutory Auditors
Pegasus House
463a Glossop Road
Sheffield
510 2QD
Date..

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
ACCOUNTING POLiaES
The following accounting rM)liciÈs have been used con51Stently in dealin8 with items which are considered material to Lho
charitable ¢ompan¢s affairs.
Statutory Informatlon
The Montgomery Theatre and Arts Centre Limiied is a charity INO. 11484891 and a company limited by guarantee INO 079630261
domioled in England and Walès. The registered office is è155 Norfolk Street. Sheffield, Sl ID*i
Ac(ountlng Convention
The charity constituies a public bÈnÈfit entity as defined by FRS 102. The financial statement5 have been prepared in aC¢Ofdance
with Accountin8 and Reportin8 by Charities.. Statement of Recommend Practice applitable to charities preparing their accounts
In accordance with the Finanual Reporting Standard applicable in the UK and Republic of Ireland issued in Octobèt 2019. the
Financial Reporting Standard appli¢able in the United Kingdom and Republic of Ireland IFRS 102), the Companies Act 2006 and
iJK Genérally Accepted Practice.
The presentation curTency is Un4ted Kingdom povnds sterlin& whKh is the furi¢tiortal currency of the charity.
Thè financial statements have been prepared on a going Concern basis vA)ith assumes that the company will continue in
operational existence for the foieseeable future.
Incomlne Resources from Generattd Funds
Voluntary income primarily represents grants rec*¥able. Revenue grants are recognised at fair value when the company has
eniitlement after any performance conditions have been met. it 15 probable that the income will be received and :.he amount
can be rneasured Teliably. Grants to finance capital expendilure are credited to restrrcted funds using the same cnieria as
ievenue grants.
IncomlnB resources from chariiable activit*s primarily reprèsent tickei sales and rdated fees for performances conducted in the
perhjd. Any tickers sold in ad&fan￿ are included ￿ cash and deferred income.
Charltablè Actlvities
Charitable actNities incltsde expendlture a5s0oaied with the staging of shows and In￿de boih the direct costs and support
costs relating to these aciivities.
Other Costs
Governancè costs include those incurred Fn the 8ovwnance ol thè charity and Its assets and are primarily associated with
corbstitutional and statutory requirements.
Tanglble Assets
Tangible asseis lor use by the charity are capitalised if they can be used for more than one year and tost over £1.500. Théy arp
valued ai cost. No depreciation Is provided in the year of acquisrtFon, or in ihe case ol capital works, until the year following
tomplerion.
The Capital project 15 accounted for at cost (basèd on the value ol the architect's certificates and other direct costs incurred in
the yearl. The capit31 project has now been completed and transferred to land and buildin85 and equipment.
Freehold pioperty- This in¢lude5 the histor￿ cost of the buildin& and 5ubsequenl capital improvemenis. These are deprècialed
in equal annual instalments over their estimated vselLtI lives which range from 20 to 40 years.
Equipment - Thesè are depreciated in equal annual instalments over th*r estimaled useful lives which ranÉe5 from 3 to 10
vear5.
Leases
Rentals payable under opefaiing lease5 are char8ed in the Statement of Financial Aciivities in the year in which they are
incurred.
10

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
ACCOUNTING POLICIES Icontinuedl
Reserves
Restrlcted Funds- Amounts received to finance capital expenditure or where a dO[￿r 5pecifie5 the precise purpose for which
the amounts donated musi be used are credited to Resiricied Funds.
Depreciation on ihe assets financed by the Re51ricted Funds is charged direcily to the Restricted Fund in the Slatement of
Finanoal Activitie5.
Designated Funds
Arnounts that have been specified by Trustees lo be used for a particular purptsse are credited to
Designated Funds. This includes 3 fund lor unforeseen major building repairs.
Unrestrlcted Funds- These are reserves not desBnated or restricted for a speaal purpose. These are available at the discretion
of the Trustees lor such purposes as the Theatre may require_ The Trustees. aim is to maintain sufficient unrestricted re5erve5 to
safeguard the financial viability of ihe Company.
Goins roncern
After due consideration of all relevani factors the company's I￿ome and cash flow forecasts and projections indicate that the
company should be able to continue to operate for the foreseeable future.
The Trustees therefore have a reasonabfe eXpeCtat￿n that the company ha5 adequale resources to continue in operational
existence for the foreseeable future. Accordingly. they continue io adopl the Boing concern basis in preparing the financial
statements.

THE MONTGOMERY THEATRE AND ART5 CENTRE LIMITED
STATEMENT OF FINANaAL AcfiviTIES
(INCLUDING INCOME AND EXPENDITURE ACCOUNT)
PERIOD ENDED 31 MARCH 2025
Period Ended
31 Marth
2025
Total
Year Ended
31 December
2023
Total
Unrestrlcted
Restrirted
Funds
Notes
Funds
Incoming resources
IncominB resources from generated funds=
Donaiion5 and le8acies
lexcludin8 the capital projectl
DOn(il￿nS and lÈgacies- capital
project
Other tradinB activities
Inveslfnent income
279.651
279,651
13,160
1.297.032
1.297,032
757,228
44.917
2.374
44,917
2,374
62,089
1.581
2,000
Other source5
Incomine resour￿5 from
charitable activilies
71.611
201.731
273.342
201.119
Total incomlng resour￿$
398.553
1.498.763
1.897,316
1.037.177
Resources expended
Raising funds
Charitable aCt￿ltIeS
Other trading activities
Other costs
2,450
244,146
13,506
3.960
312.220
367
150.291
462,511
367
8.190
320.777
8.190
Total resources expended
150,291
471.068
264.062
Nèt incomlng resources before
transfers
77.776
1.348.472
1.426.248
773,IlS
Transfers between funds
I8.21￿)
8.206
Net movement In Fund5
69.570
1.356.678
1,426.248
773.115
Fund balances broughi forward ai i Januarv
Fund balance5 carrled forward at 31 Marth
2025131 December 2023
350.429
769.435
1,119.864
346,749
419.999
126.113
2,S46,112
1,119.864
There are no recognised gains and1955es other than the results for the period set oui ab￿e.
There is no difference between the amounts stated above ar￿ their historical cosi equivalenis.
There were no discontinued operètions.
12

THE MONTGOMERY THEATRE AND ARTS CENTRE IIMITED
COMPANY REGISTRATION NUMBER: 07963026
BALANCE SHEET
AS AT 31 MARCH 2025
31 March
202S
31 December
2023
Notes
FIXEDASSETS
Tangible Assets
12
2,265,666
837,329
CURRENT ASSETS
Debt￿5
13
170.753
40,033
353,502
564,288
18,067
37,659
385,388
441,114
Investments
Cash at bank and in hand
14
CREDITORS
Amounts falling due wthin one
year
15
1283.8421
1158.5791
NET CURRENT ASSErs
280.446
282,535
NET ASSETS
2,546.112
1,119
RESERVES
io
Restrlcted funds
Designated fund
General Fund
2.126,113
250.¢
169.999
769.435
350.429
1.119.864
2,546,112
These financial statements were approved and authofised for issue by the boaid of directors on
signed on its behalf by..
-and
Mr Neil MacDonald OBE- Dire¢tor

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
STATEMENT OF CASH FLOWS
PERIOD ENDED 31 MARCH 2025
Perlod Ended
31 March
2025
Year Ended
31 Detember
2023
Notes
Cash flow from oper*ing activities
1.40S.800
861.451
Cash flow from Inve￿1￿£ adivitièl
Capital expenditure
Bank interest received
{1,437.6861
2,374
11,435.3121
1672,6201
1.581
1671.0391
Net cash flow from Invest1￿ actmtles
Net Idecreaselllncre35e in cash and Cash èquNalents
129.5121
190,412
Cash and cash equlvalents at l January
423,047
232.635
Cash and cash equtvalents at 31 March 2025131 tjecember 2023
393.535
423.047
Cash and cash equivalents consists of..
Cash at bank and In hantl
393.535
423,047
14

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
NOTES ON ACCOUNTS
PERIOD ENDED 31 MARCH 2025
la INCOME FROM DONATIONS AND LEGACIES IEXCLUDING THE CAPITAL PROJECTI
Perlod Ended
31 March
2025
Year Ended
31 December
2023
Unrestricted
Oonations & Gifts
513
1,169
9.792
2.199
Evershed5 Suthefland lin.kindl
Grants
24.039
5,099
250,OOf)
Sheffield Theatres Trust
Total unrestrict
279,651
13,160
Ib INCOME FROM DONATIONS AND LEGACIES- CAPITAL PROJEcr
Period Ended
31 March
2025
Year Ended
31 December
2023
Re5trirted
Eversheds Sutherland lin-kindl
Youth Investment Fund
17.690
1.090,994
15,848
I￿.000
72.500
33,381
134,920
479,152
Future High Streets Fund
Shèllièld City Council
Clothworkers, Foundation
Garfield Weston Foundation
75,000
34,775
757,228
The Architectural Heritage Fund
Total restricted
1,297.032
Ic INCOME FROM OTHER TRADING AcnvmE5
Perlod Ended
31 Marth
2025
Year Ended
31 Oecember
2023
Unrestricted
Rent5
44.917
34,250
27,839
62,089
Theatie Bar
44,917
Id INCOME FROM OTHER SOURCES
Perlod Ended
31 Marth
Year Ended
31 December
202a
Z025
Restricted
Student Placemen15
15

THE MONTGOMERY THEATRE AND ART5 CENTRE LIMITED
NOTES ON ACCOUNTS {continued)
PERIOD ENDING 31 MARCH 2025
2 INCOME FROM CHAR￿ABLE AcnviTIES
Period Ended
31 March
2025
Year Ended
31 Decèmber
2023
Unrestricted
Tickpt and related sales
71.611
89.241
Restiirted
Grant5 towards proje¢ts/activities
Ticket and related sales
198.320
3,411
201.731
110,655
1,223
111,878
Total restrScted
Ttstal
269,931
201,119
3 STAFF PARTICULAR5
Period Ended
31 March
2025
Year Ended
31 December
2023
stall costs linclud*n8 rechar8esl comprised=
Wages and salarie5
Social security costs
Pension costs
159,563
4.641
2.144
166.348
122,726
2.972
1.887
127,585
NO Staff received annual emoluments in exce55 of £60.(￿.
The average number of employèÈ5 UP to 31 D￿mber 2024 was 1212023= 121. A5 of 3 January 2025. the company joined the
Shellield Theaires group. All staff have contrarts of emptyment with Shelfield Theatres Trust and are rechar8ed by that
company io The Mont8omery Theatre and Arts Centre timited. For th￿ period to 31 March 2025, total staff fecharges were
£35.118.
No remuneration or expenses were paid durin8 the period to the 10 dirertors of the company12023= 1 trustee received £44 for
travel c951$1.
One trustee. Lrnda Bloomfidd, Tesigned frtsm the board to cover thè rok of intetim Chief Executive. For this Ri¥elnCo Creative
Limited received consultanty fees of £20.758 during thè period.
The key management personnd of the charity up to 31 Oetember 2024 comprised the trustees. Managing Director. Venue
Manager and General Manager. The total employee benefits gf key management peisonnel of the tharity were £72.76612023'.
EIS8.2301. Rernuneration of key m3na8ement personnel from 3 January 2025 Is disclosed In Sheffield Theatres Trust.
16

THE MONTGOMERYTHEATRE AND ARTS CENTRE LIMITED
NOTES ON ACCOUNTS Icontinuedl
PERIOD ENDING 31 MARCH 2025
4 NET INCOMINGI{OUTGOINGI RESOURCES
Per5od Ended
31 Marc
202S
Year Ended
31 December
2023
lal Thi5 15 stated afier char8in811creditingl..
Audiiors remuneration as auditors
8.190
9,349
12.3741
3,960
6,503
11.5811
Depreciation
Bank interes1 receivable
S RECONCILIATION OF NET If4COME TO NET CASH FLOW FROM OPERATING AcfiviTIES
Period Ended
31 March
2025
Year Ended
31 December
2023
Net income
1,426,248
12.3741
9.349
1152.6861
125.263
1.405.800
773.115
11,5811
6,503
4.066
79,348
861.451
Bank interest receivable
Depreciation
Ilncrea5elldecrease in debtors
Increase in creditors
Net cash Inflow from operating activrtres
6 RESOURCES EXPENDED ON RAISING FUNDS
Perlod Ended
31 March
2025
Year Ended
31 December
2023
FundraisinB consultantv
2,450
17

THE MONTGOMERY THEATRE AND ARTS CEt4TRE LIMITED
NOTES ON ACCOUNTS {continuedl
PERIOD ENDING 31 MARCH 2025
7 COST OF CHARIYABLE AcnvmES
Period Ended
31 March
2025
Year Ended
31 December
2023
Performance Costs
Programmed evenls
Indirecr production consumables
Projects
198
1,260
38,195
39.455
290
21,052
21.540
E5tabllshmènt Costs
Rent. raies and insurance
45.180
1.470
24.807
3.060
18,517
13,178
59.562
31,767
51.8S8
130.275
Repairs and renewals
Selling Costs
Publicity and advertising
Box oflice computer systems
Miscellaneous sellin8 Costs
Ciedit card commission
984
1.052
4,107
6,54S
547
7,191
1S,267
2,524
7,683
The company initially identifies the CD5ts of its suppoft fun¢iions whith relatesolely to the overall objective of producln8 varieil
range ol performancès. Governance costs are ideniified separately and are included in other cosis as detailed in note 9.
18

THE MONTGOMERY THEATRE AND ARTS CENTRE IIMITED
NOTES ON ACCOUNTS Icontlnued)
PERIOD ENDING 31 MARCH 2025
7 COST OF CHARITABLE ACTIVITIES l¢ontinuedl
Period Ended
31 Marth
2025
Year Ended
31 December
2023
Support Costs
Staffing Costs
Staffin8 Costs capitalised a5 parl of capital project
Training. recruitment and other costs
Depreciation
Telephonè. postage. statlonery and phoiocopying
IT rnainlenance and periphera15
Travel and entertaining
Professional charges
Licente5 and subscription5
Miscellaneous
205,467
129,S26
17,8471
6,707
6.503
3.167
1,222
9.349
6.928
2.361
49,679
1.996
332
17,161
44
277.514
155.361
Tolal costs of Charital￿e activities
462.511
244,146
8 EXpEND￿VRE ON OTHER TRADIIIG AcfiviTIES
Perlod Ended
31 Marth
2025
Year Ended
31 Decembèr
2023
Catering
Bad debts
367
16.506
13.OCNJI
13,506
367
9 OTHER COSTS
Period Ended
31 March
Z025
Year Ended
31 Decembèr
2023
Auditors, remuneralion . governance costs
8,190
3,960
19

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
NOTE5 ON ACCOUNTS {continued)
PERIOD ENDED 31 MARCH 2025
10 RESERVES
At l January
2023
Incoming
Resources
Outgoing
Resources
At31
December
2023
Translers
RESTRICTED
5heflield Cily Misyon Fund
Godly Play
Fiiends of ihe MontBomerv
HAF Capital Cost5
Monty Maker's Club
Million Monty Makers
Moniy on the Move
Universal Youth Work
Youth Theatre of Santtuary
YIF Revenue Grant
873
18731
14001
12,1571
400
2.157
953
4.551
19531
14,5511
15.1001
123
26.795
14,683
121.6951
I14,8￿)
19,400
19.400
12.41(KJl
14.0901
{55.2601
2.157
166,6611
19.3501
759,385
769,435
Capital Redevelopment Fund
Total Re5trlcted Fund5
757.228
871.106
8.934
143.9441
UNRESTRICTED
General
337.815
337.815
166.071
166.071
1220.1181
1220.1181
66,661
66.661
350,429
350,429
Total Unrestrirted Funds
Total Funds
346,749
1.037.177
1264A62)
1,119.864

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
NOTES ON ACCOUNTS {¢ontinuedl
PERIOD ENDED 31 MARCH 2025
10 RESERVES Icontinuedl
At l January
2024
Incoming
Resoyrce5
Outgolng
Resources
Tran5fer5
At 31 March
2025
RESTRICTED
Universal Youth Work
19.4(Kl
19.3501
759.385
lio.(KK>l
179.3091
117.6901
127.C(191
116.2831
9,400
YIF Revenue Grant
136.774
1.297,032
148.1151
63.104
13.6(X)I
13.1831
Capital Redevelopment Fund
ACE PG3
2,101.831
Award5 for All
Cultural Pipeline
Heritage Compass
Poetry Comm155ion
Total Restrs¢ted Funds
19.466
7.887
4,995
7.887
4,995
2,000
2,126,113
769N35
1.498.763
11503911
8.206
UNRÉsfRicfED
Designated rnajor repair5
General
250.CrfXJ
1258.2061
18,2061
250,000
169,999
419.999
350.429
350A29
398.553
398553
1320,7771
1338,467)
Total UnrestTi¢ted Funds
Total Funds
I,119￿64
IW7.316
1471.068)
2.546.112
The Universal Youth Work grant is fynding towards youth Servi￿
The YIF revenue grant wa5 re(￿Ved alongside lunding towards ihe capi￿1 project, to cover loss of income and ongoing
personnel costs.
The capital redevelopment fund is the balance ol funds reCe￿￿d to finance the re(levelopment work on The Montgomery
Theatre now capitali5ed.
The ACE PG3 revenue grant wa5 funding lowards variov5 project costs including family friendly productions. and work wilh
voung people.
The Awards (01 All fevenue Brant was fund5n8 lowards Various project costs induding family friendly productions. and work with
young people
The Cultufal Pipeline revenue grant B funding toward5 Iraining
The Herita8e Compass revenue Brant is funding towards a fundraisinÈ event/&ala following the capital redevelopmenf prolecr
The Poetry Commissiors revenue grant is funding towards a poetry mural project-
The dèsignated fund for major repairs and renewals 15 a fund for unplanned mapr repairs. investment into new equipment or
the refurbishment of the thealre.
21

THE MONTGOMERY THÉATRE AND ART5 CENTRE LIMITED
NOTES ON ACCOUNTS (continued)
PERIOD ENDED 31 MARCH 2025
11 ANALYSIS OF NET ASSET5 BETWEEN FUNDS
Unfè5tricied
Funds
31 Cjecernber
2023
Restrlcted
Funds
31 Oecember
2023
Total
310ecember
2023
T3n8ible fixed assets
Current assets
167,129
196.925
113,6251
350,429
670.2
244.189
1144.9541
769.435
837.329
441,114
1158.5791
1.119,864
Current liabilities
Vnrestrtrted
Funds
31 March
2025
Restricted
Funds
31 March
2025
Total
31 March
2025
Tan8Sble fixed a55ets
Current assets
163.835
540,OC
1283.8421
419.999
2,101,831
24,282
2.265.666
564,288
1283,8421
2,546.112
Current liabilitTres
2,126.113

THE MONTGOMERY THEATRE AND ARTS CENTRE LIMITED
NOTES ON ACCOUNTS {continued)
PERIOD ENDED 31 MARCH 2025
12 FIXED ASSETS TANGIBLE
land and
Buildin8$
Freehold
Equipment
Capital
Prolect
Total
Cost
At l January 2024
Additions
156.207
24.275
670.2LK)
1.431.631
850.682
1,437,686
6.055
Disposals
Transfers
2,099.149
2,255.356
2,682
33.012
12.101.831)
At 31 Marth 2025
2.288.368
reciation
At I lanuacy 2024
Charge for the period
Disposals
At 31 March 2025
13,353
9.349
13,353
9.349
22.702
22,702
Net Book V3lue
At 31 March 2025
2.255.356
10.310
2,265,666
At l January 2024
156.207
10,922
670,2
837.329
13 DEBTORS- DUE WITHIN ONE YEAR
31 March
2025
31 December
2023
Trade debtors
7.608
163.145
170,753
2,505
15,562
18,067
Prepayments and accrued income
14 CASH AT8ANK AND IN HAND
31 March
2025
31 December
2023
Cash al bank and in han
393,535
423,047
23

THE MONTGOMERY THEATRE AND ARTS CENTRE UMITED
NOTES ON ACCOUNTS {continued)
PERIOD ENDED 31 MARCH 2025
15 CREDITOR5- OUE WITHIN ONE YEAR
31 Marth
2025
310ecember
2021
Trade creditors
Other credit￿5
Amounts owed tts fdlow subsidiaries
Amounr owed to parent company
Accruals and deferred income
74,578
142.440
2,844
215
10,402
198,647
283.842
13,295
158.579
16 TAXATION
The company is a registered tharity and as such is not normally liable to Corporation ta
17 ULTIMATE CONTROLLING PARTY
The ultimate controlling party 15 Sheffield Thèètres Trust. a registered ch3ritv.
IB TRAN5ACTION5 WITH RELATED PARTIE5
In accordance with FRS 102 paraBraph 33.IA the company ha5 taken advantsge of the exemption from disclosing transactions
with 115 parènt company and its fellow wholly owned sub5idi3ry rompanies.
No remunpration or expenses were paid durin8 the penod to any trustees of the company12023. 1 trusiee receivèd £44 ftrr
travel cost51-
Rivelinco Creative Limited was paid £20.758 in the period. This was the recharge of Linda 81oomfield who Stepped in as interim
Chief Executive when Sarah Sharp re￿gned on 7 June 2024.
A donation in kind totalling £41,72912023.' £43.1731 has been induded in relation to le8al advice provided by Eversheds.
Sutherland Inteination31 LLP_ Sarah Mashlord. trustee, is a partner of t￿5 firm and part of the donation in kind is in relation lo
her time.
Siand and be Counted Theatre Ltd158CI. an organisaiK)n specialising in creative arts lor those seeking sanctuary. partnered wilh
the Mgntgomery for various proiecis during Ihe period. Smari Banda. a trustee of the Monlgomery, was also the Digital Director
for SBC. £22,55012023.' £11,414) was paid to $8C for th￿ work. at markei value. Smari Banda did not benefit personally from
these transactions.
24