REGISTERED COMPANY NUMBER.. 07954848 {England aThJ Wales) REGISTERED CHARITY NUMBER.. 1148555 REGAL TENBURY WELLS CINEMA • ARTS THEATRE Report of the Tntstees and Unaudlted Flnandal Statements for the year ended 3151 Juty 2025 for Regal Tenbury Trust Thome Widgery Accountancy Ltd Chartered Accwntants 2 Wyevale Bus1r￿S Park Klng5 Acre Hereford Herefordshire HR4 7BS l Tentr¥J TDJst Ltd Contentsof the Financial Statemer or the Year Ended 31 Jul 2￿15 Rewtofthe Twu5tee5 1 to 9 Indepwdent EX￿￿17e￿5 Rewt 10 Statement of Flnantial Acti*ities BalarKe Shèet 1Z Cash Fi￿ Statement 13 Note5 to the Cash Fit)w sta￿meTht 14 Notes to the FinarKial Sta￿ts 15 to IZ Qetalied state￿*￿ of FttwEKlal ktMtle5 23 tt+ Z4 al Tvtsj Trust Ltd )rt of the Tru5tee5 for the Year Ended 31 20Z5 The trusrees also director5 of the charfty for the wposes of tht C￿￿anIeS Act 2LIJ6, preseTrt thelr rewt th the financlal stateN*nts of the thartty f¢)r the year ended 31 July 2025. ThÈ have **ted the provtslons of Accountlw and RepDrtir4 by Chak1tles.' Statement (rf Recommended Practice a•pllcabie to chariiies prepartn8 thelr accounts in accordance Flnandai RepcrtlrwA Standard applicable In UK and RÈNbilt of treiand (FR5 1￿) (effective 7 j￿ary 20191. OBjE￿NEs AMD ACTiYmES obj￿tIves and aims Regai ts an art deco cir*ma ènd thÈ#tre. datity from 1937. and restored the SU￿1 of the trleritage Lott fund in 2010. The wts 263 curtQT*rs aNI a 50 *ai $t*Jio at the rear of the aUdItorf￿ pYovide5 ¢(xTwnunlty faclllttes, meeiing and rehearsal Sp￿e, and sthge5 smaller performatKes. The Regal offers our ¢thi￿￿nIty flkns. broathasts, lfve music and theatre Ferf0MM￿eS, comunlty events and p￿Vate functions. We also an aMLMI pantomlme. The￿ ts a thrivlng Theatre S¢hort for chlldren and YOU peorAe and, for athJlts, the ReEal Comnwnlty Theatre fflount5 at least two wo(hxtions a year. ￿al groups ￿ the Regal as 8 or meeting space and are prrth to te at the heart of the Tenbjry Welk crm)munlty. The ReEal Tethry Trust is a charitable trust set up In 2Q12 to run the Regai. The purpJ5e of the chatlty, a5 Set ryJt in artlcle four of the artlcies of a5xKiation, 15 to advance tdu¢atlon. understand*)8 4)wEtiation of the kn. primarlly not extlu5ively audio visual arts. the beneflt of the P￿)11C of Worcestershire. Hereford5hire and Shropshlre. The Tru5tee5 have pald due feEard to gLrfd&nce ts5￿d by thÈ C￿rity Commisslon In re5FeCt of publlc eflt In deciding what att￿￿¢5 tharity 5hryJld undertake. The Re￿1 theatre Is leased by the Tntst frc4)) Ten￿ry To*n C(uKil. the tyJildirq5 owner. We are hugely grateful for Tthyn Cau￿115 ongoln8 suN)ort wlth thp frewt demands of the b￿l￿n8 of thts age and thdr sfvard5hlp of the requlrements of the FAriith"n¢s herfwe status. a ￿stered tharity, 15 taken from thE Trust and any surpluses made are invested back into its atLivitie5. N¢￿ of thetnjstees recelve any payThent for twr serwice5. Re&al cyerates ￿￿th 7 5alarfed staff and 12 $t4ff on zero.h)ws contract5. Salaried staff InCI￿Je the Theatre Director SUFWrted ty part-tlme staff coveAn8 the Tru5Ys Ilnance, mwketln8. èdministratN?n, volunteer £(￿dInati( ar*1 cieat)InÈ. zerfyI￿rS contracted staff wovidp office s4)port *)d bar YJFPOrt. Specla161 wntractors wovlde additillnal ￿ aTrJ technfcal prod￿th)n YJFWt Regal Is SJFPWted by a civnmltted 8roup of vduDteLY5 who perfom key o￿n￿Onal rcles SLKh as box offi￿, frwt of htyjse. tlim prujertioTh, 118htkng styjnd, backstage Costur￿, bèr. sweets and Th￿han(￿se sale5, ushering? and chaperoninB. Thelr coittltr*Jtlon Is vltal. We would Th)t te able ts+ Vfate Re8al Nyltltht the dedlcated 5WWrt of wrvolurttee Pw1 l Tenbj Trust for the Year ETrJed 31 Jul 2￿15 Our Mfisslon. Vtskn, Value5 stratggk Threctlon In April 2024. the trustees met to establlsh strategic plan for the Rryal for tive 5wrs to 2￿29. The M155hJn. Vlsk)n and Strateglc Prtorftles the trustees set are.. Our mtsslon. as a cultural hth wlthkn TeThb￿ Welts. Is to enrtch Llves of thL*e IMnB corrfftjnlty and the rr¢rtmdin£ are￿. Our 15 to prrNfde the people Ilvln8 In, arthmd or vlsftlNÈ Ten￿ry Wells wFth access to the pwfvrming arts of the hthest (pAllty. offering somethins for everyone tkffough a w￿de.rangIr4 woyamme of films, broadcasts, high-wallty Ilve Ferform￿e5, In.hwsewoFk aTrJ cOmff￿nItY ￿￿VIty. Our actmyes In 2￿14/2￿15 8uSded by the fw Str•te4ic Priorities ad)pted by the P•rd of T￿￿te¢S in Wl 2024. Strawc prforftles ZOZ+2029 Flnandal suStaInabl￿ty. Devetop earned and thated IrKorr* styjrces to gJ5talnably cover fwatln% costs and Impro¥* wr ta￿lItieS whlist malntalthn8 and bviiding tyjr reserve5. D•v•iop our people: ktske the Ile8al a learnir8 enmTor￿t wh￿re eAJr stsff ￿luntee￿ leel suFwted In £reatln4 quality eYwlerKe fcr custcrnera and vthere yc4m8 Feople can ieam loy and the value of the arts, iK)th as entertalnment as a craft. l)•ry•n urKler￿￿￿1ry of audl¢nce'. Dwetop ￿derstandIng of wr *Id1￿ throuth data and ￿p1Th1 engaeement to enha￿e ow pmgranwnlry. align ti closely to rAJr C￿￿M￿(ty5 fntere5ts arKI t￿Ure tt contdbute5 to th? finwKial yjstalnablllty of the Regat. 1￿mISe the prteThtlal of the Re8al as a Cultural Hub: Develop the Regal as a MIXe(1-￿ provlthr4 open actrss to the comunity, mthnE y￿￿tIng the Rwl a merntsratrie expthentt kn¢y4m for hl8h 4LHlity pr¢)grammlr4 and sltty fatiliiies. The Board of Twstee5 ts ￿eaSed to repxt proarets agalnst all of thE5e ￿¢ritie FJThandal SustsinablHty Vthlie are rew)rting a delKit lor Z02412025. our f¢xus b￿l￿"ThA su5talnatle flnarKlal stablllty ha5 led lo an Increase In our ¢peratln8 thrwgh sales of rTXSre ￿Ckets and h(gher bar sales. The number of events we stsged lirKludirq theatre, music etcl InCr￿d from 229 in 202312024 to 261 Sn 2Q2412025. We saw a correswndng Ir*rease in the number of Uckets sdd of 10%, fr<¥Tr 22,349 in 202312024 to 24.794 In 202412024. Ticket reven IrKre0￿ by 5% year year. Bar re4enue increased by IQ%. Thls steady 8rowth is exFected to continue in 202512026 and prtrotdes a piatforn for further 8rMh. IrKome ftxvn fund ralslng also 5trth¥ed good pwre55 vhth rKelpt of ser￿r￿j$ grants frL¥n the Foyle Fr#Jndatlon, Jrford Trysi, the Tumef Trust and hlqlvern Fllis ￿$tr1et CrAJncl. We are aL%¢ ektremely grateful to merrtjers of o CDmnKmty who C￿lStentIY asre lo donate w6th each tlckei purc1** or drop thange In thè tMKket after enjo￿n8 a Wlth contlThthrrf grDwth In aUdfjer￿. carelul mana8anert Of Operating Costs and $￿cesSf￿ fU￿raT11n%1 we e¥fect to rr￿e closer tr+ break*ven in 202512ffl6. The re¢tlpt of a le8acy of £1￿.(￿0 In 202312024 allowed the Regal to rep(rt a yrow surplus for that year. iegary has r*alned to enable the Trust to malntalTh a mlnlmum level of reser￿. We ¢oThtlNe to mcnttor ojr re5¢rYe5 carefully to ensure the contlN*d fiTrandal thabllfty ol the TN5t. DeN*lop I￿r P•opie Pagt 2 Re l TeTh￿ T￿￿t Lid of the Tyiistees for the Year Ended 31 Jul 2￿25 I)￿JE￿NE$ AND ArnvrrE5 The Regal is oFffited by a small group of lar8ely part.tlme emFloyees led by our full ￿me Theatre Plrector. employees progrnmmin& rnarketlng. financè. ¢tx)rdiftatwn of volunteer5, ¢y¥ani5ing arxl en￿￿nI the bthlthrY4 15 clean and reaty for ¢xJr audIen￿. We also employ staff for bar thjrfng bw pwlod5. l>Jr staffln8 has IrKreased &) thecwrent year as we deveiq) sk(ils across Tole5 and focts on sL￿eSsion plaming for key rules. Thè Relal can only tyrnte vrith the inVal￿[e irput of ¥oiur*teers who enyjre the sale LyrattrJn of ¢)w theatre and a wam wei¢m for ojr authence5 and artlsts. Ali key areas of the cperntkn are $4)ported by a v¢lvnteer Team Cc#Jrthnator oversedw teams that dperatè Frts)t of House, Bar, Projection, Technical and U5herfn8. OFeratln8 a theatre hostln4 PL*Jllc eveTht5 15 a corylex undertaklng and the TDJst tskes Its r¢sp¢nslbllltle$ se11￿ly. Tralnlns Is RI￿) to all ¥fAunteers to en5we the safe ioeration of the Reyl. We also prrNfide tethnKal tralnlw lor those yJ&wrtlng lfve events and flim proJectloD. Deepen our wthrstsndkng of•ur We aim to put on a prr*rarnme that ￿11 draw enthwa5tic aLhtherKe5 to all ryjr FwfonnatKe5. We ltsten closely to the feedback we recelve and we condurt research cn ticket sales to better WwJerSt￿ what VAII ent¢rt•ln and en8a8e Trjr a￿￿tel. We are adapttng wr programmi￿ based on w researth and are pa￿nI partlcdar attention to proBrammI￿ that ￿11 wr audlence5 Into the future s￿h as screenlng of thlidren'5 ff Ims 5thwl hotlday5 and muslc atts geared to rnl¥e the potentlal of thg R￿1 a5 a CultyJral Hub.. The Regèl 5its at the heart of Tentr*Jrfs ma5n street ITeme St) 8r41 has Pr￿Ided a favourite venue for the town and the surroundlig ￿liageS to enjoy great entertalryn•t. ¢JJr the COMM￿llY ts rftal to U5 and we IcJays the pTogrwnmlThA tholces are made by a￿lence vote. We h05¢ed the Borderl1￿ Fllrn Festlval kn Mbrch broadpning the ranie of fllm avam)b￿ to wr audierKe wlth the screenlng ef Welcorr* to t￿ord￿rd of En￿￿, ce¢ebratlng orchards theTertsxy area, ￿n8 parttuiarty popJiar. Our toTht?ruJe to attract steady PAJthences. Our Ilve m￿K a￿lenCeS ckcreased sllthuyi larqely as a result ol the [￿￿￿¢t￿lC￿ from other lttal venL￿5 and the deliberate Ii)trrxluctkn ol newer acts that have ie55 estsblished udience5. We c£￿tIN￿e to c105ely at wr pro8rammln8 to etwre we achieve a mlx of acts that wlll aF to a ￿de spectrum of wr oJ5tomers. The rethjttlon In Ilve mwl¢ sale5 was offset by a C(￿Men$￿te increase M live theatre. ￿￿11(￿15 and a i(Kally prcdwed verslon Df Ro3ld Dahl'5 Ma￿ld4 drew Italthy audleKes. Clnder.Ella was c4Jr ftK)st xK¢e5sfd paTrtomlme to date Utket sale5 increased by Z3%. The pantc4mlme remaln5 core of the ReRals programmlng and are happy to have Cth5 GamEr and hi5 r￿atIVe team returnln8 to stage Dkk Whfttkngton lo 2Q5. The Regal Community Treat￿ yoduce5 at least two Pr￿l￿tIOnS a year to the Re441 stage, ￿th a fatAJloJ51y atJW5pheTk Proj￿tiOn of Arnold Rldws 192Cfs thriller The Gh￿ Traln. Ma￿rrf yeat Use of our Stiklio space I October 2024 and Alan Asrkbtyjrn's 'A chD￿￿ of Disapproval, on the maln stage tr) 14Ar¢h 2025. We aTe pr￿Jd of o contlnulny a%yxIa￿On ￿th the RCT arTrJ f•r the creati￿ty they brfng ￿ tht Rwl. The Regal 5ctr*vJl of Creatlve rws weekly for chlidren aTrJ Feople ￿der the d*ertpJn of Ib£hxd Fox staqes at least two performarKes o )tar In the rnain auditoriwn. Students ieam all a¥ects of ￿ wrfoMi￿e frequently co.cre3te thtrlr materlal. Qw fuTrJral￿nS actI￿tIeS ￿ded 51gnlfl(ant wrport to the Rewal durlng the year. Mahy of ryjr cu5tomer5 c￿0$e to donotÈ wher*ver ttr*y purth8se tlcket5 and when tw atte￿ 3 5h¢M. We aL%o actively Icok to ralse funds frcth Trust5 and Foundatlons. In September 2024, the Regal awarded a Erant by the Foyie Fo￿datIoN of c15,0￿ towards ￿Jr )erntln8 £05ts. This made a slgnthcant cmtribJti(￿ to supportlrr4 our activitiE5 and we exter*J r*Jr thanls to the trustee5. We have also cL￿tInUed to recelve Invaluatle support from K)Ivern Hi115 1*"xrlct Coundl vlho have helped u5 host the sÉrond Regal Folk Festival. the Regal Operè Fe5flval have hew us Improve arce55 to our Stwtio. C*her key 5UWters Inci¢Aln8 The Burford Tn15t, the Tumer Tru5l, Mawiw Mllk. Frank hlatthews Ltd recel¥e wr thar*s. Th15 w0￿ded a secure base for us to ccntinLE to ￿￿0￿7de a vat1ed program￿ capital imprnve￿ts. Thts year saw rettrement ol wr Chalr. Janè Alitn whD had 5eryed 2019 and steeTvd the thrwth the dlffltult years durin8 aThl after the parvJeRMc. The bwd Is grateful to her for hw extmr(linary comltment. After CDmpeikfve pyms, a new chalr, Katy RDEer5, ¥Yas apFointed In Ntsvembtr 2024. Fbwever. due to ￿eXpected commltrnents, Katy tendered her re51gnation in Wl 2025 aNI the Dewrty Chair, JarEt ChaF41)an, steFped up as terfm Chair ol Ih? board. A furtl*r k¥oce5S to lthtlfy a new Chalr VAII be run in ￿6. We als(p saw three trustees retlre from the board and in J￿e 2025 a pr0¢e55 to recwuit their replacemth)ts was laLmched. Arp?Tntr￿ts are e)￿Cted to be made In SeptemLEr 2025. PaEe4 alTer* Trust Ltd crt of the Trustees for theyear Enthd 11 2025 We are very aware of the prMle8e of OFeratlng Irorn beauyful U*atre and are hugely grateful to Lur landlord, Ihe Tenbjry Tu4n Cwnc*. for t￿ partnership ￿ ensuring the Regal tan remain own. 0[￿7￿8 rna1ntena￿e of tl* bulldlng reqthres res0Jr￿S frorn both the Tr￿t and the Tenbjry Town c￿￿71 and this Is often th)Ilewn8. herltsge statLL4 ol the b￿lthnI req￿re5 that all repairs are done carefully and in keeplng vrith Its status. MAJor repalr5 to the roof were car￿d out In July and A￿￿$t 2025 and repairs to the took place In July Z025. thanks are extended to the Ten￿ry T0wTh Cwncii forertsuring the 5ucce551ul completion of thls *h￿ FINANCLIL REVIEW FIfia￿al po51tlon The rèwlts for the year sFx)w net exFenditure of E31,B97 Q024.' net IrKome £94.1651. Income d¥crea5ed from C631,1)99 In Z024 to 1558.067 aTrJ expendlture IrKrea*d from E536.934 In 2024 to [589,934. The fall of 173.032 iTh IKome iene¢ts the exceptfonal £ICQ,(I)) leiacy recelved In the Z024 flnar**l year, partly offset IrKrease In tlck¢¢ sales and other I￿0￿. Net assets anwrtsd to (70,23412024: É102,1321. At the sheet Oate the NBV of ftsed assets was (70,48012024.. £83.0391. Res•rve5 pK4Icy The reserves policy aim5 for the charity to hold free reserve5 In unre5trfcted fmts to a level that equates to a mlnlmum ol four m(￿th5 total annual expendlture, or £1￿.[￿A), of thlth o¥erhead5 are CIKJ.(K¥). The t￿￿tee5 con￿¢jer that this level wlll fLmd5 a¥aliètAe to c(ver stafhng and o¥*rtEad costs In tl methum term. At year end the chatlty had Unr￿tr￿ed resetwes of £65,235 Q024.. £11YI,1321 . A de5i8nated reserve of £5,¢lJl has been created 05 a rewlt of Ilmlt8tilX15 on our irfjurance aga￿$t flotidingtr see further detalis In thp ￿t£S to the finandal stataments. At the yearer¥J thecharttyhad watfve fr* reserves of £Z4512024.' £19,093>. s of 31st of July 2025. the resebves th) meet the req￿rtMent of fo￿ mnths eX4JenthW￿ and decreased nts 31st July 2024. The £thtiwln4 Improvements in Lperatkffial reverwe In 202412025 8fve5 the Trustees Intre45ed conf1th￿e In thè Ongolng cyeraiions of the Reg41 and the athllty to 8•)erate 5rnall sury>iuses ln the futwe. Hthvever. theTru5tees rKo8nise that thvTru5tcontinues to operatEwith re5erYe5 below the wefeNed FUWRE PLANS The Regal has establIs￿d a Set of Strategfc prf(￿*￿E$ for the yeaTS 2024-2029 that are set ￿J¢ on page 2. We have also e5tabllshed a b￿[r￿sS plan for 2025.2027 that priorit￿eS two a5PECts of ow chthtabie wrpose: We wfjll co)1lni* ro devetcp prt*4r•Trffiry to appeal to 8 whjè audyence ￿th ￿ area to thKreaskn8ly draw a￿Ter￿e$ from lurther afkld to enjoy a nlght out kn Terljwy at ojr t￿atre. gxcess In 8rwT our authents *fjll alithv the contlwed ¢tywildation of our ftnarthl p￿stiOn. The Regal 15 an important part of the Tenb￿ camn￿nItY and we ￿11 IncreasÈ (xjr tomrTxJnlty enqa8eN*nt throu¥h the deVelcp￿￿rt of p￿rarnTr￿ for 16. to 21-year.oids incluthnq tralnlns In ￿e1T￿nn¥ the r*rf¢*my rt5 as weil as prtrwdmmln8 thsl8ned to eiKoufdge th15 age group io cciY* to the thea￿. STRIKTURE. GOVERWICEAND IA4NAGE f￿vernI￿1 document The chadty 15 controlled by lts fovernME documeni. a deed of tnJ5t, and ccd)Siituie5 0 limited compary. 1lmlt¢d by 8uar4ntee, as deflned by the Compan6es Act 2Cth. Page 5 lTeD￿j TnJst Ltd of theTru51ee5 for the Year Ended 31 2025 Charfty constltu¥on The Reqal Tenbjry Trust Lknlted ts a thtsritabit tixnp*)y Ilmited by guarantee gover￿d by it5 Vemorandum and Artlcles of Assoclatlon dated 17th February 2012. ￿ 15 reglrtered a5 a tharity wlth the Charity C(xmmtssioi. EN mether of the d)artty prtynise5, 11 the charity 15 di5501ved while he or she or it 15 a rnern￿r or ¥*ithin twelve nyjnths after he or she or it ceases to be a member. to contrlbute gxh Inot eK(eedlng É101 as may be +J¢*))anded of hlm or her or it trhyards the pa5*y￿nt of the debts and liabilftles of the Charity inturred befwe he or She or it cea5e5 to be a member. and of the costs chargts and expenses of up. arKI the adliistment of the dghts of the Idbutorte5 arrnng themseiNts. Trwstees are recrnited th￿￿h advertlsing and Iden￿fied thrrAryh l((al nel￿￿nI aTrJ prlor to apwlntment are Inrfted for m*trng50r Interviews invOl￿r￿Tr1￿tee$. stall. volunteer represet)tstlves a)d The Board was supwted by four sU￿0￿￿ttee5 durfng the year. FlnarKe, Facflltles, Fundrnlslng and HR & Voiunteerk The Board keeps its govemance 3rranll￿nts unthr annual rerfew to ersgjre the scope of the w1￿0mMIttee ￿ti￿tieS provth the best support f￿ the Trusts objectfves. (tton and tralnfjn#rf new trustt*5 Tntst¢e5 are Introduced to the Regal's OFeraiioos and strLKwre aTrd brlefed ￿ thelr leKal L*ll1a￿On$ urbyer charity * conyany law. They are ail Invlied to partKipJte by Joini￿ the Boordb 5ubKonwnfttees are exFected io become Involved thrtyjq￿rt year. manag￿eTht r•mLThratlon RemuneratlDn of the Theatre ￿reCrllr Is pror&sed W the Chalr aFprwd by the FiMKe Commlttee. Her remuneratlon 15 e5tab115hed thr￿gh bencF*narklng of slmliarorganlsatkns annualEy. REFERENCE A14D ADWNi¥fRATIVE PETAIL5 stered Company rwjmber 07954848 IEn8lathl •nd Wale51 st¢r¢d Ch*ity n￿ber 1148555 Re￿￿tered offke 47- 49 Tame street Tentyjry Wells Worce5ter5hire wR15￿E Page 6 l Tertbu Tntsi Ltd of the Trusrees for Year Ended 31 Jul 2025 hlr J Brethert+2n hls J Chapff￿rn IlntÈrim Chali from 7.4.251 Ms R Cc 1115,8641 12451 19,ClJ3 TOTALA55Efs LESS CURRENT LLIBIUTIES 70,235 102,132 70.235 102.132 FUNDS Unrestrfeted funds 17 70,235 11r£.132 TOTAL FUNDS 70,235 102.132 The tharltable Crth￿y 1$ entltled to exemptknn tr￿ autht under Seetloh 477 of the Compjhles Act I￿6 for the year erthd 31 2025. Tre meffthr5 have not requlred the corry)any to obtaln an avdlt of its fln8ndal statement5 for the ended 31 July 2025 In accordarKe wlth SettSTh1476 of the Companfe5 Act 2(Q6. Tf* tntstees aCkr￿¥[edge thelr reSp)￿lbo1j￿e5 fc ensurin8 that the tharftabie company keep5 XCOLntiw record5 that comply with 5ecticfi5 386 and 387 of the CompaTTrie5 Act 21Xb and preparfng flnandal staterntnts which wve a true ar￿ falr of the state of affair5 of the tharliabie ccffipBny as at the end of exh flnaKtsI year and of fts Sutplus or t￿￿11 for each flnaxlal year In atcordance wlth thÈ req￿rernents of Sectknns 394 and 395 arkl whkh Othe￿￿Se comply the requlreftvts of the Companle5 *£t 2LW relatin¥ to knarKial staternents. so far as aFpiKable to the charftatle ccTrpany. Ibl These ft￿￿Tal statements have been prepared in xcrydance wlth the prov151￿ ar4ylltabie to Ch￿tsbLe crAnpanie5 bJe£t to IlK& Small companies rwrre. The firor 1 statements were apwoved by tht Bc4ird of Trustees and auth0ri5ed for i55up on MEre 518ned cn Its trelwlf by.. P￿n- Trust The note5 fc￿ partof the*fiianaal State[￿nts Page 12 or the Year Ended 31 Jul 2 31.7.25 31.7.24 Notes Cash ge￿rated fmm operatlor 12,438 75,rL3 Net cash byopera¢irB act￿￿e5 12,418 75.T13 Purthase of tangible fixed assets Interest rKelved 15,0601 1.839 146,5651 Net cash wed In thye511￿ 7￿Mt*S 13.2Z11 144,6691 Chanp In tash and ush •whTalents In the rèportin4 P*Tlod Cash and tash •(pfval•rts atthe bfflnnlr8of the reportlw per￿d 9.217 31.054 97,689 66,635 Cash and cash e¢wlvalerts •ttheend of thtr reportlnqpwlod iC6.906 notes fcffm p¥tof these fknanclal $tatemtnts P4e 13 Re ITentr¥J Tru5tLtd Note$ to the C•th F￿statement forthe Yèar Er￿ed 31 thjl 2025 RECONCILLITION OF IEXPEF4)rrupE)nNCOME TO CASH FLOW FROM OPERATING AcnvmES 31.7.25 31.7.24 Net {exP￿dItuTell1rKrffj& far the repwthg pertod la5 ppr the StateW￿t ol Flnanclal Acti￿t￿$1 Adlu5tmentsfor: Depretiatkn charges Interert rèceived IrKrease In st¢¢ks Decreaselllncrea*l In debtors IrKreasellde¢reasel In creditors 131,8971 94.165 17.619 11,8391 11,3761 2Q,194 9,737 17.4C¢] 11,8961 18551 P7.6431 15,4481 12,438 75,n3 ANALY515 OF CHANGES 14 FUNDS At 1.8.24 C45h thy At 31.7.25 Net cash Cash at bank and in 97,689 9,217 1￿,9c 9,217 1Q6, Totsl 9,217 106.9C6 The N)tes fcvm partof the*financiai statements Page 14 Tenbj TrLtst Ltd or the Year ETrJed 31 Jul 2025 ACCOU1￿1NG POLICIES Basts of preparlrvJ the flnantial ststements The flnanthl 5tètwnents of the charltable c￿y. whkh 15 a public ￿lefit entSty ￿der FRS 102. haye prepared In accordaKe wlth the (￿ritIeS ￿)RP IFRS 1021 'AttthJnttng aNI Repwtin8 by Charities.. Statement of Recommended Practltr applicable to charities Prepa￿ne thelr acc¢u)ts IN accordance ￿th the Firwidal Standard 4pplicabie in the UK aThd Rewblic of Ireland IFRS 1021 leffectiye 1 Jar¥Jary 20191,, Flnanclal Rep)rtlng Standard 102 The Flnandal Reptrtlns Standard applicable in the UK and RewNic of Ireland aTrJ the Ccmpanles kt IC￿. The financial staternents been prepared ￿dtrr thtr htstorical c05t The t￿￿tee5 a$5e5s vlhether the use cl golng concern Is aprxwiate l.e. w￿h?r th¥e are aTW rroterfai urKertalntles reiatsd to eYent$ or condltlons that rnay c35t ￿en1￿ca￿t dryjbt on the ability of the company to cth)tlnuè as a goln8 t¢yit¢m. The trustees makÈ this as5esynent in respect of a pet1od of at least year from the date Of authodsatlon for 15sup of the flnanclal staten￿ts have cMtltsdÈd that ¢tyhpany has adequate reS￿r￿S to continue in 4)peratfjonal existence for the foresee*e futwe and there are no material Lttertah)tles about the ¢harlty's ablllty to ContIr￿ as a golng concern, thl￿ tw conilryje ￿ adcpt wloB ttfflcern basis of ￿C￿ting in preparing financ*1 st)tements. As of 31st of July 20Z5, the reseNes do Th)t meet re¢￿TeM￿￿ of four nYJnth5' expenthture and have iknreased slrKe 31st July 2024. The wntlnulTr4 Improvements In cperatfr)n41 reven￿ In Z02412025 ￿e5 Trustees Increased £cmfldeTKe kn the ot4olng ope￿il0n$ of the Reqal aTrJ the ability to generate small 5urpiu5e5 in the fuuwe. trb)wever, the Trustees reco8nlse that the Tru51 ContIn￿ w operate Mth ￿5￿YeS iowthe preferred Minim￿￿. kntome ts ietogty)Ised when the coryany ts legally entltled to It after any WomwKe conthtlon5 been met, the arr￿ts can be measthEd reliably* an¢J It Is prob3bie thai Income wfll be recelved. Cash dLX)atfens are recoBTrlsed cfi recelpt. Other dOna￿C￿5 are recognfsed ¢XKe the ¢ompany hos teen Th)tified of thé d(fftatlon. unless wlorff44n¢e t￿ditiOnS rewire deferral of the *nowt. I￿orne tax retover•ble in rdation to donotions recewed undef Glft Atd or deed5 of covenant Is recognlsed uwi recelpt. Le8xie5 are rtrogni5ed on recelpt cf otheM5e If the cc4np3ny has ￿ rKJtlfiel of an Imp￿￿Ing d15tslbutl￿1, the amtyjni Is known, arx1 re¢elpt ts expected. kncome that Is recefved In advance of 8 belmE delivered 15 reco8nised in the accoLrtin8 period in which the prfyluctlonl fllm is showTh. Grant irKorf* Is recognlsed kn the acco￿L￿rVI pekfjod In whlth It Is recelved unless performance condltlons requlre deferral of thÈ aNthnt. E¥p¢ndlWre Llablllttes are reco8nlsed as Èxpendlture as S￿rI a5 th2re is a Legal or constructl¥e cbligation commlttlng the chatfjty to that ewthture, 1¢ 15 Pfrt)aN¢ that a tranrfer of ec0￿M* benefits I￿11 be reothred In seitiement the awKMJTht ol the cbll8atfjM caTh be measured rellably. Ex￿￿thI￿re is accrAJnted for on an accnIa￿ b35iS ha5 bew (la55rli￿1 urthr FEadlry that ag8regate al cost related to the category. w￿re cosrs cann(* be directly attributed to partlcLlar headkn85 tw ￿ve t*eD ailttated to 4thikne5 rffi a ba515 (￿SIStent with the Use of re￿l￿CeS. Tanwble Ilxed assets Deprrflatlm ts caiwlated to wrlte off the cost of au ftsed assets over thelr estknated ifve The rate5 In ￿ are as follows.. Plant & machlnery xtures & flitlngs ComtxrtereryJl)ment ZO% redutlng balance 2(¥X reducing balan 20% reducirq balance St¢Kks Stsxks are vJiued Jt the of cort oTrJ net reallsatrle ¥aiue. after maklng allthYaKe for obsolete slow mrNSng Items. PaEt 15 Re l Tenbj TnJ5t Ltd Notes to the Flnbndal 5tateri*)ts. CC*ll1￿d for the Year ETrled 31 2025 ACCOU1￿ING POLKIES- contfjnued The charity15 exempt from tax ￿ Its charltabie actMtle5. accountln8 Unrestrf¢ied furKts can be In èteordarte the tha￿table objeeti¥es )t the dlscreweffi of Injstee RestrTCted f￿d5 (an only be used for particular restricted purF#J5es vrithin obiects of the tharlty. Restrtctk)ns afftsewhen speclffjed ty the donor or w￿n funds are ratsed for partlcular re￿rfcthd purF05e5. Furthw explhnation of the nature ènd ol each fthd is included In the Th)tes to the fknarKlal statements. Pensknn costs and other k*)5t-retlrement benefits The Cha￿table ¢t*nP8ny fwates a dÈfined coniibutlrm peth)n stheme. Ccntrtbutlorffj pa￿le to the chthtable company's F￿n￿on xheme are chty to the Staternent of FlnaTKlal ￿tIvItIeS In the to whkh they ieiate. Trade and other ¢￿torS are recwlsed at the settlement arrKMnt due. Cash at bank Cash at b￿k and In hthd Includes cash short term hl8hly Ilqukl InveStn￿￿5 wlth a th)rt rnatwity of three rrthths or le55 fr￿ the date of OFenlr@ of the deposit or ￿MIlar aCcO￿lt. Credltors credit￿ and rectynised where thE t￿rrtY ha5 a t*e5ent cl)IIEatfth) resultfng (rom a past event that villl probably re5uIL the transfer of fund5 to a thfrd party and the ¥￿L￿￿￿t due to settle the obilgatfjon can be measured Qr eS￿rr￿ted iell*ly. Credltor5 and priwlslDThs are ￿rInallY recogn15ed at thelr setrlernent arrrfj￿t. DWTbJNS AND LEGACIES 31.7.25 31.7.24 Total funds iknre5trlcted Re5trfc fund% f￿dI funds Dcffjatior Gifi aid 15,277 2,619 15,277 2.619 9,744 Grar Regal membershlp ItK¢xr 53,951 2.133 61,481 2.133 60,934 73,9 7,530 81,510 173,468 Pagé 16 tINJed... for the Year Ended 31 Jul 2WLS DC*4ATIONS AND LEGACIES. ￿ntInUed Grants recei¥ed. Included In thp aik)ve, •re as folirpw5: 31.7.ZS 31.7.24 Mjlvern Hills fhstrict (￿J￿1¢ Grants Worcester County (ounol Burford Tnjsi Tur￿ TnJ5t Thèatre Tax Credit 8,434 26,8Z3 27,127 14,051 11.OJ) Foyle F￿￿datI Tenb￿TOWn Coundl Worcs CC Holidays *£tfvittes and Frod Prograrn￿￿ grant 15,OWI 3,420 61,481 é0.934 OThER ACTMTIES J1.7.25 Totsi fwd$ 31.7.24 Totsl fl￿dS unreStr￿ted Restrfcted lunds fund5 h*rthandise income A¢fvertlsln8 Inc￿¢ 1.471 1,471 9,823 8,597 11,294 11.294 ESTME*if INCO 31.7.25 Total fLmds 31.7.24 Total funds fund5 fund5 Der**ii acc1)￿t interest 1,839 1,839 1,896 INCOME FROftA CfriIRrrABLE ACnVITIES 31.7.25 31.7.24 Actlytty ClnÉ4Mtk. Tlwtrical & Art5 entertainment Clneffotk, Tratrfcal & Arts ent*ttlnr￿nl Ciner(otK, Theairfcal & Arts entertainrrEnt ClnÉ*natk. Tthlrfcal & Arts entertalnrrEnt Flim Lfve show5 BroaLtasts Bc#Jknng fee5 Theatre cc¢np3Thy ilckers 5ubxription incame Regal Sch￿1 ot Creatlve Art5 ticket and subscrtptl￿s 17,638 276,137 9.207 49.713 23,627 274,025 9.158 37,894 ClnernitlE, Theatrkal & Arts enterta￿[r￿L 10,764 15,248 Ctr)mitt¢, Theatrlcal & Arts ffitertah)ment Ctr*rThitic, Theatrical & Arts entertalnment Cknernatic, Trattkal & Arts thtertalhment 7,929 8.117 68.732 Studlo and thE4tse hire Bar IncLvr Schjol. hollday clubs, )rk%h(y5 and sknlar 5,321 63,883 Clnmtk, TratrKal & Arts ￿tertaInmÈrtt 5,187 8.554 463.424 446,2n Page 17 Re l Tenbu Trust Ltd es to the FinarKial Statements - C￿tInued for the Year Ended 31 jul￿2025 CHARtTABLE ACTivmES cosrs Suppyt costs (see rKJie 71 rect Costs Totals Cinematlc, Theatrical & Arts entertainment 326,965 262,999 589,964 SUPPORT cosrs Other Cinematk. Theatrfcal & kn entertainment 262,999 INC(WIExPEND￿uREl Net Incomellexpenditure} 15 stated after chargingll¢redltlngl: 31.7.25 31.7.24 Depreciatlon. owrRd a55ets 17,619 15,414 TRU5fEES' REIAUNERATION AND BENEFrrs There were r¥J trustees reMUr￿tIon or other tenefits for star ended 31 July 2￿25 f(¥ the year aKled 31 July 2024. Trustee expenses of £515 {2024: 3421 were relmbjrsed to 1 12024: 11 trust￿ the year In reiatfon to travel cost 10. STAFF cosrs 31.7.25 31.7.24 Wage5 and 5alarfe5 Social security costs Other penSiC￿ ¢￿t5 f52.069 3,063 2.293 115,469 2,368 2,030 157,425 119,867 The total aTr￿nt of etyyioyee beneflts of k6y managemeni Fer4)nnel of the twst were £XI,248 121rd4: E39,1121. The average tY￿￿t￿y numter of employees duth4 the year was as follows.. 31.7.25 31.7.24 10 Theatre 16 15 No emplo5ees recewed eThAurrents in excess of £60,((O. Paqe 18 al Tenbu Tntst Ltd for the Year Ended 31 JLé 2025 CQWAR4MVES FOR THE STATEME1￿ OF FINANCi4L ACTIV￿ Unresth¢ted Restritted fund5 Total funds IIKOK AND ENDOWMENTS FROM Dwtlms and iegathe5 137.583 35.885 173,468 Charft*l¢ a¢ilvlil¢s Cknematlc. TWrtc)l & kn entertaiM*nt 446,2TI 446,zn OtFEr tradin8 actmtles rmènt I 9.463 1,896 T•t41 595.214 3S,885 631,099 EYPENDrfuREON Charitable artivitie5 Clnematlc. Theattfjcal & Arts entertalnment 536.934 536.934 NEf IKOIAE Transfers f￿d5 58, 35,885 35,885 135,8851 94,165 94.165 94.165 RECONCIUATION OF FLINDS Total fund5 bruht lorwar 7,967 7,967 TOTAL FUNDS CAKRIEP FORWARD 102,132 102,132 11 TANGIBLE FfxED A55Ers Flxtures Plont fittin45 equipment Trta15 COST At 1 2024 Adtht1c￿S 117.332 3,617 9,52S 9,613 136,470 At 31 July 2025 120,949 10,968 9,613 141,530 DEPRECWnON At 1 August 2024 43,926 15.4)4 4,38Z 1,317 5,1Z3 53.431 17,619 At 31 J￿Y 20Z5 59,330 5.699 6,021 71.L150 BWKVALUE At 31 July 2025 61.619 5,269 3.592 At 31 July 2￿24 73.4X 5,143 4.490 83,039 Page 19 Re l Ten￿ Trust Ltd Nots5 to the Flnatxlal taten￿rtS. c£￿￿Tr￿ed or the Year Ended 31 Jul 2￿25 13. 31.7.25 Jl.7.24 Sti 3.849 2.473 14. DEBTOPS: AAIOUNTS FALUNG DUE WITMN ONE YEaR 31.7.25 31.7.24 Trade debt￿$ Other debtors VAT Prepayw*nts Deferred exp¢rKMturt 592 3.420 1,647 21.385 1.693 8.663 9.481 14,601 34.795 15. CREDITOPS: AMOUNTS FALLING DiEIVTtHIN ONE YEAR 31.7.25 31.7.Z4 Trade credfto al ¥ffurity and othw tues VAT lTrher crethtors Penslons UnredeeTr*d 8llt v Third party hfrer5 26,Q80 5,963 31,551 990 12,665 504 4,787 7,387 9,B81 55,786 5,2J7 3.719 517 6.019 67,371 125,601 115.8é4 Income that 15 receiY*l In ad￿￿ of a r*oductitffl i fibn I hlre IIKO￿ belr4 deil¥ered Is deferred. The ir￿0￿*15 rrlea5ed durfn8 the xcountlng Ythen the prcojctlw l film I hlre IrK¢¥Y* Is thiivered. 16. ANALYSB OF Assrfs BThEEN Fuk 31.7.Z5 Total lund5 31.7.24 Total funds Unrestricted fund Ffjxed assets CLNent assets Currenl Iia)tllties 7Q,480 125,356 1125.6011 83.039 134.957 125,356 11Z5.6011 70,235 70,235 102.132 Prfe 20 tènt1n￿d... the Fina or the Year EThJed 31 2￿25 WKIVEMENT IN FUNDS Transfers betw&n At 31.7.25 At 1.8.24 in fuThJ5 Unre#rfct¢d funds Gerffil fund Ir6urnnts ReseNe 1WL,132 133,3971 13,5ts)1 65,235 102,132 133,3971 7Q.235 R•StrIrt￿ fund5 Restmcted 102,132 131.8971 70.235 nh)vement In fvnds. lrtlthled In thè ab*e are as follo￿. In funds UnreSt￿cted funds General 550,537 1583,9341 133,3971 Restrlcted 7,530 16.0301 TOTAL FUNDS 55B,067 1589,9641 131,8971 Coryatfv* lor moY•mentln fur￿$ Twan5fets At 31.7.24 At 1.3.23 fLnd5 funÉts Unrestrlcttd funds r*wal fund 7,%7 35.885 11ri,132 Re51rlcied fund5 Restrlcted 35.885 135,8851 TOTAL FUNDS 7,967 94,165 102,13Z Pap 21 Tnist Ltd Note5 to the Flna I Slatern¢ryts- tontln forthe Year Ended 31 Jul 2￿25 IA0vEMEF￿ IN fUNDS.cMtknued Comparative net mLwen*rt In funds, Included In thè atthe are a5 fdLw'. Irthnln8 Resources Mo¥emenl ln fund5 Ur*es¢ritt•d fund5 General fund 595,214 1536,9341 58,280 ReStriC￿d fund5 Resthcted 35.885 35,885 TOTAL F1Tr4DS 631.099 1536.9341 94.165 fj**ral fLThIs General I￿1$ can be Used th ac¢tydafKe ￿ the Chtht￿le c*Jloctive5 at the discretion d the trLLstses. A deslgnated reserye of É5.C¥J) has bew created os a reyjlt of Ifmftstiuns our insura￿e aqalrtst fl¢>>Jlr4. A ew of wr I￿ra￿e resulted In a decrease in premlum of approxknateiy the armwt of the reserve, thlch VAII be ch*ged any costs Incurred 85 a result of Iloodin8 whlch wtsjid In the wt l¥ave given rf5e io an At the year end a transfer of £1,500 was made frcth restkfjtted fuTrJ5 to the fuThJ to #t￿Unt to re5trtcted furn15 all￿ated to flxed a5S¢t addltlcms. EMPLOYEE BENEFIT OBLIGAmOM5 The Company cperates a deflned ¢mtributlcfi ￿$10ft s￿￿rne for all quallfWng employees. The assets of the ￿h￿e are heid separdtely fr￿n thxe of the Cr￿panY ITh an inthperklently admln15tered fvTrJ. The chargÈ to SOFA In re5Fert of defined contrlbutkjn sthemes was E2,Z93I2￿24. £2.0301 19. RELATED PARTY DISCLOSURES There were related party transactions for the eThJed 31 Juty 2WI5. Page 22 Re l TentrAJ Twst Ltd Detsiled 5tatetY*nt of FIna￿la1 ktfvfiies for the Year EThJed 31 Jul 2025 31.7.25 31.7.24 INCOK AND ENDOWMENTS Dona￿￿$ G1ft a 75.277 2,619 9.744 11]O,tM]o 60,934 Grants Re￿1 frfend n*mbershfp Inc 61,481 2.133 81,510 173,468 Merch•)dise IrLome Ad¥èrti5illR TrKome 1.471 9,823 8.597 11,294 9,463 Inyestmentlncomè Deposit arc￿¢ irtsrest 1,839 Charttable acliviii25 Fllm Uve shows Broadcasts Beo￿nE fee5 Theatre company tkkets wbxrfptlon fjrKo￿ Re8al khooi of Creatl¥e Arts tltket and sub5crlptlC￿ Incorr StL4110 and theatre hire Bar Incorne s￿1, hrlidayclut6. ththop5and sirnliar 27.638 276,137 21,627 274,025 9.158 37,894 49,713 10,764 15,248 7,9Z9 ,117 66.732 5,187 5.321 63,863 8,554 463,424 446,2TI Toi41 IrKomlrty reswrees 558,(*7 631,099 nitn Llve thows Bma(kast Theatre companyexFendltwe Regal sch￿1 of creative arts exFthlitiJre Other prOducUC￿ exFendlture Bar eKpendlture AdVer￿SIng and costs Box offke software cost3 Licences Cartw f¢xward 12,316 220.OYL 4.232 7,767 5,935 11,171 218,333 4,045 4,519 7.941 3,253 28,729 14.671 12,232 30,361 14,824 13,049 829 309,345 Thos pap thes Thjt fomi part of the stat(rttry finaKial stale￿ts Paffe 23 R al Tenbu Tr￿t Ltd Detailed Statement of Fina￿al A￿￿tIeS for the Year Ended 31 Jul 2025 31.7.25 31.7.24 ChaTlt•blè%¢Mttes Broughi lokward Depr¢ciaUm of tawble flxed assets Impairrrtht losses for tangltle figed assets 309.345 17.610 JQ6.OT2 15.414 1.986 326.965 J23.4n Oth•r Wage5 151.069 3,C63 1,293 3.115 10,588 16,711 2,632 115,469 Pensions )i aTrJ wa*r rates Inswan Llght and h¢è¢ Tele￿ P<8t4e and stattonw Sundrfes Card PToce55ing and bart ¢harqe5 Accountancy and bookkeepir Legal and Fyofesslonal fees Irrecoverable VAT CL¥hWter eq(￿Pment and se￿k$n8 Repalr5 and Inalntw￿nce Staff tralnlng.IKisPitality and wtifare Travel Recnritrf*Tht and wjiunteer eyperfjes CleJnlr#s and waste dlsposal 2,030 5.557 13.118 2.145 ,417 457 5,841 7,507 3.971 8,197 21,540 5,263 21,649 5.471 13,180 2.329 365 17,010 2,419 1,139 3,4n 1,698 262.999 213,462 Total reswrce5 expended 589.964 536.934 131,8971 94,165 Th15 yge the5 not form partof the stsfUtoryfinarKial staterrtnts Page Z4