STO STONE NEgr ANNLIAL REPORT F[¥.NCL&L ST.4TF.MEYrs A COMPANY LIl¥lED BY GLARALYTEE FOR THE YEAR ENDED 31 MARCH 2025 CHARITY NLMBER: 1150118 IVLTMBER: 08301111
STO FINANCIAL STATEMENfs FOR THE YLIR E.NT' )ED 31 MARCH 202S coNrENrs Pages Referen and administrative detatls Cbairnian's port Trust¢¢s' report Statement of TTUSttts' resw)nsibilities Independent exatnin&s rert Statcm¢Trt of fllwicial activities Statement of finaneial ryJsitiOD io Staiemenl of casb flows li Notf8 to the financial 5tat¢mcnts 12-16
STO REFERENCE AND ADMINISTRATtVE DETAItS Charity number. Company number.. Registered office. Prin¢ipal office.. 1150118 08301111 Sedulo, Office 605. Ali*rt Hou. 256-260 Old SL London, ECIV 9DD 136 Shaftesbury Avenu4 nd0 WID iEZ. UK DiRECTOLg (the "TRusfEES-) Irina Bro Erica Crump Yvon Patrick Ic Floch Cathy Wearing KEYEMPLOYEES Artistic Director alld Chi¢f Executive: Producer. Inna Schorr Ilallnah Mycrs APPOJ2VTED ADYISORS Banker5.' N2tWe5L Regeni Strcct Branch. 250 Regent StreeL LOnth) Wl B 3BN SolicitOT5: Bates Wells Braitbwaile LLP, 10 Queen Stre¢t Pla¢c, lldO. EC4R IQS. UK Independent examiner. Chris McKain. UHY Hackcr Young LLP. 14 Park Row. Notting NGI 6GR
STO CFL41RfvtAN'S REPORT 2024-2025. Ston¢ Nest's tsyeltlh 11 year of existence. has seen the clwity deliv¢r anoth¢r full public progrumme of varied and vibrant artistie activity, building on existing partnerships with artisls and organisations and creating new ones. As in previous y¢ors, charity has continued to oversee gr&lual impmvements. to the building on 5haftcsbury Avenue, its home and perfomiance venu< which have cnabled it to broaden the public activity it undertakes and mak¢ operations more sustainable. Activity highlights this y¢ar Ilded a collaboration with renowned contemporary dance comp8n}' Ratnb¢rL hosting a Nan Goldin installation with the Gagosi2T] (iallery. an ¢xhibition of Ukrainian photography with charit8bl¢ organisation K0. and our most eclectic mustc pmgTamme to dat¢. Th¢ ¢harity'S growing netm'orl audiell basc and production track record put it in a strong position to pmmote the arts to the generdl public and olTer educational activitic& in furtherdnce of its charitable objects. Ln closing. I would like to th2Dk th¢ sponsors and statTand Ik fotivard to deliveritig positivc ryrts in futur¢ yeats. Yvon Patrick le Floch Chainnan 15 December 2025
STO TRLSTEES, REPORT The Trustees ar¢ pl¢as¢d to present their tweltlh annual rel together with the financial statements of Stone Nest (the "Charity") for th¢ y¢¥r from l April 2024 ti) 31 March 2025 which have been ppared on the basis of the accounting policies set out in te i to th¢ finan¢ial stateniertts and comply with the requirements for & dittctors, report and accoullts. for CoEllp2ni¢s Ath purposes. The comparative year was from l April 2023 to 31 March 2024. The financial statements comply with the Charities Act 201 I, the Companies Aet 2006, thc Memordndum & Articles of Association, and the Stat¢ment of Recomtnended Prdctice - Accounting and Reporting by Chariti¢5 (FRS 102) (SORP 2019). STRuCr[rn GOVEILNANCE AND MANAGEMENr GOVERNING DOCUMENT Stone Nest 15 a wrnpany limited by guarantee by its Memorandum and Articles of Association dated 20 NoveJDbcT 2012. It As registered &s a ¢h2rity with the Charity Cornmission. The sole member of the Charity Argenteuil Lirnit¢d whose membetship is non-transferrdble unless through strIr¢ or th¢ mcmber entering liquidation. The liabtlity of thc Tnernber is limited to GBP 10 in the event of winding up. APPOJNTMENTOF TRUSTEES As set out in the Articles of A550ciation th¢ shall be a minimurn of three trs. Any person willing to act trustee must be app)inted Ls sucb by the s)le member who will scrvc notice of the apwintment up)n the Charity. The mcmbcr may specify the tern)s of otrice which sh811 apply to th¢ how¢vcr to de no such tern have been specificd. TRUSTEEINDucfioNAND TR411VIIVG New trustees are to be briefed on their legal obligatiOJJ5 wid¢r tharity and cornpany taw. the Charity Commission guidance on public FrtefiL content of the Memordlldurll & Articles of Association. the committee and decision- making proc¢55¢3, th¢ business plan and recent flllancial rfOrniace ofthe charity. The bri¢fing is to be undertaken by an existing trustee or a key ernployee. Newly apFointcd ttustees aTe encourdged to attend the fst board tneeting following their apItine ORGAIV1&4TION The board of trustees, which mud have & minimurn of 3 membcrs but no M]rnu administers the Charity. The board typically meets 3 to 4 ttn$ a year. To f&cilitatr cffcctivc oatIOnS on a day-to-day basis, the Trustees have delegated authortty for operational matters and artistic perfoEm8nce related activity to the Artistic Director and Chief Executive. OBJEcfivES AND ACTIVITIES The purpose of the Charity, through its Objec is: To promote the arts for thc bcnefit of tbe public. particularly bul not exclusively thmugh public rfom)anc&8 of dramatic. literary, Musi1 and other artistic Mx)rks and the provision of r¢hearsal faciliti¢s for such public perforniances. and To promote the ethjcation of tbe general publiq particularly but Thot ¢x¢lusively through workshop publio performances and other educational events and services. Stone N£sVs mission is to promote experimentaL unexpecd aTMI daring artistic prncttrx across a diverse rdnge of thth. dance, music and interdisciplinary aru and to bring it to a wide audience. PLfBI.IC BETrIEFIT The Trustees And management committed to providtng public benefit through th¢ charitabl¢ activity of Stone NesL have taken iitto the Charity Commission'5 guidanc¢ in this area Stone Nest atms to create a meetitig of EX>1 visionary art and a wider public. Situated in the heart of London's world- renowned theatreland it is idealty pla¢ed bring the brilliant a{ experimental to a new audience, enriching culTal life through inspiring eXrience& Ily pn)ducing and presenting a diverse program of ¢ontempordry performing arts in a centra] and acceiblY designed perfoTmance space with an affordable ticketing poli¢y. w¢ will ensure that our activity benefits as wide an audience &$ w>&sible.
STO TRUSTEES, REPORT ACHIEVEMENfs ALIII PERFORÈKLNCE Over the last year Stone Nest h&s focused its efforts in the following k¢y ar¢as'. Cotttinuing to support the Émprovem¢nt of th¢ building in tern)s of its operation as a flexible perfornitng arts space; Continuing to d¢v¢lop 4 sustsiDable operational and business model. Strengthening the organisation building its professional network. curlg a broad prograrnme of public perforniances and culturnl and educational events Th¢ Stolle Nest t¢am ¢ontinues to be a1ve in the cultural and perfotrnance sectors, attending perfonnances and cultivating relatiOll5hips for funtre collaknrdtiotl, and spr¢ading awaronc55 of thc organisation and its vision. In 2024- 2025. &s in previous year& the organisation built on prtjgress made in r¢£¢nl y¢ars to dclivcr its m05t artistica]ly succcssful and widest reaching progtamme yeL with a vibrdnt and eclectic live progvdmme of theatre, music, vksuh] arts and dance. co-productng new 'orkS and presenting existing productions, &8 well supporting artists behind th¢ cenes in rehearsal and d¢v¢lopmcnL "the 24-25 &e&%on opened with Kiss Alarry Kill, a provocative new play inspired by rvdl life events. explortng the frst same sex wedding in a UK priso from loog-ternL &8SryKiate theatre company Dante or Die. The work vcry successful and went on to tour nationally. Across th¢ ycar wc hosted a 5ertes of concerts IM)th independently and in collalx)ration with promotepi Such &s Seriou5. BuildTng on an cxisling r¢lationship with forward thinking historical music ensemble Figure. we presented a series of exciting show5 iDcluding a particularty tn¢morable new work from James Larter. which re-imagined Viyaldi's Four Se&8ons Is a concerto for perc$10[1. At the other end of the spectnmi, Palli Cousins, Atomised Lislening. a unique interactive sound instsllation that explore5 our rElatiOllship with obsolet¢ tcchnology, turned the chapel into a saTtctiiary of Soun The London Handel Festival rebjrned to Stone Nest lor an evening of perforrnances radically reaginIng what Hand¢l's arias could Ee today. in collaboration with the laiKI nonclassical. Holly Herndon and Matt Dryhurst's The Cull invikd audience and choir tnernbu5 to record & training data s¢t for a suite of choral Al odels, closing their exbiTrJition at the Serpelltine. Genre defying Brussels based Erho Coll¢¢tivc brought thought provoking rontempordry, Cxperimentsl classicat music. Our regular ja72 programme in the chapel 8nd grassroots gig5 and javn nights in the bar continued to thrivc and build their following. Makam Salam. a transfomiative evening or music and art for peace in the Middle featuring a host of ttnowned local and vi5lting artisLs from across thc region. The London Review of Books presented their seasonal event AlIentive Le550ns and CaroLY, which featured readings from & lin¢-up of cstccm¢d cultural voices and artist& as well as experimental vocal ensemble Shard5. We welcomed back productions of Adham Fardmawy's Daughters of the River (Serpenline) and Hunch Tbeatre's P5 Ihe Hal. During Frieze we hosted Julian Charrière's ConÉTolled Burn. which invites the viewer on a cosmic journcy through deep time. soaring through an aerial landscape of implimling fjreworks. The Duplaced Dreams cxhibition presented more than IIMJ photos and s¢vcra] short films created by Ukrainian teenagers who were scattered aeross differeni locations amidst the tunnoil of war. Our work with r¢nowncd c4)ntcrnporary dance company Rambert Saw thcir cxtraordinary dafflcers perforni wotk Cated with cutting-edge cknr¢ogrApher Jill Johoson, and music by David Poe. presented tntimately in the TO In addition to public activity. thaTity also coThtinued to offer rehearsal and development space and support for artists and companie& We have Continued develop the music prngratlln in the bnnt bar Spa "Below Stolle Nest" building a strong network of protnoter partner5. This strayKI of activity attracts a diffeMt audience and allows us to host rforniances which sit better in a more c&8uaL intimate space. The income strearn proi'ided by the bzr 0[ratIOn offers the Charity a reliable Vr¢¢ of fvThJs which (xynrribute greatly to cote costs and pn)8ramme activity. FLNANCIAL REVtF.W During the period the Charity did not receive any charitable Contributio8. inst¢ad its in¢otne was d¢rived from rental fees collected on the building occupied bj the Cbarity. and a slwe of the b8r proeeeds iDwwne from a semi- rniallent arrdngement with Below Ston¢ Ne5L The rental in(xTrme and other income receivwj during the year have en sufficient to meet all expenditttre of the Charity over the same yeaT and con5equentl)' there are no funds in d¢fi¢il.
STO TRUSTEES. REPORT RESERVES POLICY R¢serYes are needed to bridge the gap between the spending and CeiVing of resources and to cover unplamied eXnSes. The Trustees consider that tbe ideat level of reseThes &$ at 31 March 2025 would be GBP 30,000. The TnJ5tr5 believe this io b¢ a r¢lcvaDt wnsirkrdtioll as these fidS would ensure that the charity would be able lo meet the salaries of the Charity's employees for three month4 and all other fLx¢d ¢xpcn5es ¢ould b¢ canc¢ll¢d with Inlled1ate effect if it were deemed nece&88ry for cashflow. Th¢ actual reserves for the year ending 31 March 2025 were GBP 36.609 (2024: GBP 84.595). The Trustees shall consider the reserves policy on an ongoillg basis and make changes as deemed necessary. The ChaTity has & sllrplus of reserves of GBP 6.(A)9 as * the y¢w-cnd which the TTUStc¢s intend to us¢ to fiwther the Chartry's objectives, includillg for the provision of rehearsal space ffft-of-ch2rge to Artists and PErfortn¢rs, and foT the on-going promotion of the performing arts ID Lonthn. PLANS FOR FUTURE PEIUODS As in PvIouS year4 Stone Nest will Trtinue to supwyrt the grJuai improvement of the building in li with its practical Tequir¢tncnts and arti51ic vision. and the dei'elopment of the organisation. its networL ndraISing strategy, business miKlel, bar and artistic programmc. Th¢ management will continue lo research the local and international arts scene in order to plall the programme, attending performance5 aDd festiva15 and meeting with artists and partncrs. Building improvements irL this period and the income stream getmted by the b8r operation will enable Stone Nest to mak¢ fullcr of th¢ building. reach a wider audience. and Lwra a programme olartist SIdencIeS, workshops and PToductiODS in ord¢r to mc¢t its rjwitable objectives. Artistic plans for the a)ming year incIe. •Fightfor Americal in collalM)ration with our existing partnerthe american vicarious (Debate." Buldwin VS Buckley). A groundbtraking particip&tOTy iDSta]latton in5pifEd bv tarticat tablctop wargarn¢5, scl on thc morning of January 6th 2021. FightforAmerical explorts the legacy of the Capitol riot and th¢ gam]filon of American lIticS. • On The Other Earth- a virthal choreograpbic instsllatioD in lIation with Studio W&yn¢ MCGgor and Somerset House • An eclectic music prOgramTh f¢aturing Sam Amidon. Martin Haye& Enji. Mark Fry. Gagarin Quartets. the Jewish Music tnsitute and mo REL4TED PARTtES None of the Trustees receive remunetatioll or other financial IerIt from their work with the Chartty. Any onnertion betw¢¢n a Tnjstee or senior manager of the clwtty with a production company, COntrted actor, perfom)er or exhibitor be disclosed to th¢ full board of Trustees in the same way &$ any other contractual relationship with a related party. In the current yeHr uo such related party traT]saction$ were ported. As mentioned alK>v¢, the sole meTnber of thc CTharity, being Argcnlcuil Lirnitr& has the ability to appoinl tile, and set tern]s of office for the TnLStees. Mr Yvon Patrick Le Floch is the sole dirertor of Argenteuil Limited. The Chlty is current]y occupying the prorErty known &$ 136 Sbaftesbury Avenue. the above mentioned principal otTice. on a Licence to Occupy. Mr Yvon Patrick Le Floch 15 the 501e director of Balta Limited - the landlord of the prOrtY. Erica Crnmp is a partner of Bot¢5 Wells Braithwaite LLP. a law frn providing legal advice to the Charity on one atea of advice only for the perM)d of these &ccounts. Erica Crump doe5 Ilot provid¢ any legal services herself and is not involv¢d in instruthing Bates Wells in this One area (and in any evenL the legal services aMolted to ns1 its this year).
STO TRUSTEES. REPORT EXEMPTIos FROM DISCLOSUIIE The Charity has Dot utilised any exemptions from disclosure. FLThT)S HELD AS CUSTODIAN TRbSTEE ON BEHALF OF OTHEIiS The Charity and its Trustees e t)ot acting as ¢ust(xlian trust¢¢s. FUNDS IIELD AS cusfoDJAI% TRusfEE ON BEHALF OF OTHERS The Chartty and its Tntstees noi tIng as custodian Ins. RISK mNAGE(lE1[ The"I"rusttes have k risk managmcnt slratrgy which comprises". An annual review of the risks. th&t the charity rnay" faLt" The establishment of systems and procedutes to tnitigate those risks id¢ntificd in the annual review.. and Th¢ implementstioo of proCedUS designed to minimise anv )ntial impact on th¢ charity should tho Ei5ks mat¢rtaiisc. The review h&8 identified that flnancial STLStAin%thility 15 the niajor fllwicial risk for the charity. In collaknration with Ihc landlord, attention h&$ also been focussed oll )-r3clal risk5 from fire. hcalth and safety of artists and &udience and managcrnent of wtorniing rights. By order of the Trustees Yvon Patrick le Floch Chairn)#ll 15 December 2025
STO TRUSTEES, liESPONStBtLrriES Company law requires the director4 wtrK> are ft¢ferred to bC as th¢ TruMe¢s, to prepar¢ fman¢ial ststements for each rinon¢ial ycar whicb give a true and fair view of the state of affairs of the Cbarity at the year end and of its incoming resources and resources exr*nded during that year. In preparing those fInCiti1 statements. the TnteeS are required • s¢l¢¢t 5Ultabl¢ a¢¢ounting policies and then apply them consistently: • makc judgements and estimates that are re&sollable and pruden4 • state whether applicable aCCoting stsndards and statentents of recommended practice have been followed subjecl to any dcpartures dI105¢d and explained tn the fuwicial statements: and • prepare the fmancial statements on the going coucerll b&%is unle55 il is inappropriate to psume that the Charity will eonlinu¢ in business. The TnteeS are responSile for k¢¢ping propcr accounting records. which disclose with reaso[1¢ ac¢uwy at any time the fmancial sitiOn of the Charity alld enable to thsure that the funCIal statements comply with tbe Companies Act 2(K)6. They aTe also responsli )le lor safeguarding the assets of the Chartty and hence lor taking r¢&fonabl¢ steps for the prevention and detection of fTaud and other irregularities. Ihe I'rustees have prep[ed forccast financial information aDd iKlicvc that th¢ charity ha5 suifi¢i¢nt c&sh flow5, including support from its anonyTllQUS donors Wh¢ r¢qui to ntInue to 0rate as a going conccrn. By order of the Trustees Yvon Patrick le Floch Chairman 15 December 2025
STO INDEPENDENf EXknMLNER'S REPORT TO THE TRI',STEFS OF STONE NEST I rert on the charity trust¢¢s on my exwnination of the accounts of the company for the year ended 31 March 2025. which are set out on pages 9 to 16. Responsibilities basis of report As th¢ Charity's Trustees of the Company (and akn its ditectors for the purp)ses of eompany law) you 8re re$poTisible for the pr¢paration of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act?. Having satisfied myself that the accvunts of the copartY are not rEquired to be audited und¢r Part 16 of the 2006 Act and are eligible for independent enItiatIO I Itrt in resiKct of my exarniD8tion of your Charity's aounts as carried out und¢r scction 145 of the Charities Act 2011 (Ibe 2011 Act). tn carrying out my examination I have followed the Directions given by the Charity Commission Under section 145(5) (b) of the 2011 ACL IndepeDdeDt examiner's statemettt I have compleled my examination. I confum no matters have come to my attention in coTItLe¢tion with tb¢ ¥arninatiou giving me cause to believe: (l) acLounting recoTd5 We not kcpt in rcspect of the company as required by section 386 of the 2006 Act. or {2) the ac(x)unts th) not accord with those aceountiDg recor(Ls: OT {3) the accounts do not comply with the accounting requirements of section 396 of the 2006 Act oth¢r than any r¢qUir¢t that th¢ accounts give a ITue and faiv view which is Dot a matter considered as part of an independent ex8mination- or (4) the accounts have ttot ptEpared ID accordan(% with the rnethods and prin¢ipl¢s of the Statement of Recommended practice for accounling and reportillg by charitie5 [applicable to charities pr¢ppring their accounts in accordancc with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no CODcerns and have comc across no other matteT5 Tn connectioll with the examtnation to which attention should be drawTr in this rewrt in order to enable a proper understanding of the accouDts to bc r¢aC1(L Cbris McKaiTr FCA 15 December 2025 Llll, Hacker Young Chartered Accountants 14 Park Row, Nottingham NGI 6GR
STO STATEMEIIT OF FIANCIAL ACTIVITIES FOR THE YEAR E.llED 31 K4RCH 2025 Ullrestricted fullds Yearto 31 M4rch 21125 GBP Total funds Ytar to 31 Mareb 2025 GBP Total funds Ye4r to 31 Marcb 2024 GBP IYot¢s INCO.ME AND ENDOWMENfs FROM: Rental inc¥*me -I'icket sales Other in(x)tne 197,534 49.581 49,110 197,534 49.581 49,110 264.557 109.062 TOTAL 296.225 296.225 373,619 EXPENDrrLIiE OY: Charitrbl¢ artiviti¢s 344,211 344,211 340,681 TOTAL (344.211) (344.211) (340.681) NET MOVKMbNf FOR THE YEAR (47.986) (47,986) 32,938 Totsl fLwds brought forward 84,595 84,595 51,657 TOTAL FUNDS CARRtED FORWARD 36.609 36,609 84,595 All of the above results are derlved continuing activitie& The 51atetuent of fmanciaj activitÉcs includes all gains and losses tEcognised in the year. ITh¢ llOt¢s on wag¢s 12 to 16 fomi part of these financial statements)
STO STATEMENT OF FINANL CIAL POSITIO1% AS AT 31 hL4RCH 2025 31 Ma 2025 GBP 31 Marcb 2024 GBP Notrs CITRRENT ASSETS Receivables Prepayments Cash 49 4.041 43,997 392 873 90.310 48,087 91,575 CREDrroRS (amounts falling due within ottt yexr).. clitOrS and accruals tkposits r¢¢¢ived io 11,478 1,980 5,000 NET CURRLN"r ASSETS 36.609 84,595 TOTAL NET ASSETS 36,609 84.595 CHATy bUNDS Unrestricted in¢J)me fijnds 36.609 84.595 TOTAL CHARrfY FLfNDS 12 36,609 84.595 For the financial ycar in question ihe company w&8 entitled exemption under Section 477 of the Companies Act 2006 Yelating to small companie5. No members hav¢ r(4uircd the company to obtain an audit of its account for the year in accordance with section 476 of thE Companics Act 2006. The dtrector5 acknowkdgc thcir resrmmsibility for complying with the requirements of the C4)mpanics Art 2006 with respect to accounting records and for the preparation of financial ststcmen The financial 51atcmcnts were appmved and authorised for i&8u¢ by the 0rd of TnJ5te¢s on .. were signed accordingly: Yvon P2tri¢k 1¢ Flo£h Tnjstee Company Registr8tiDll Dumber 118301111 (The not¢5 on page5 12 to 16 fonn part of tIe firlle11 statements) io
STO STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 MARCH 2025 l April 2024 l April 2023 Notes 31 March 2025 31 Mareb 2024 GBP GBP Csb Iloiv from operting acliviti Net (Ios5y inco¢ ncre&8ey decre&se in ptepaytnents Inereasel (decre25e) in payables Decrease in receivables {Decreasey Incre in de)sits received (47.986) (3,168) 9.498 343 (5,000) 32,938 2,736 (7,853) 193 3.000 Net ¢8sh inflow5 (uscd iny from operatiODS (46,313) 31.014 Cash at the beginning of the year 90,310 59296 Cash at the end of tbe year 43.997 90,310 (The notes on p8g¢s 12 to 16 form part of these fujancial ststemeDts) li
STO NOTES TO THE FIYANCIAL STATENIEiwrs FOR THE YEAR EYDED 31 MARCII 2025 ACCOLNTING POLICIES The principa] accounting policies adopkd in the preparntion of the fillaneial statements are as follows: (a) Basis of prepardtion The finan¢ial siatements have been prepared in 7rdanCe wtth Accounting and Reporting by Charities: Statement of Recommended Prdciice applicable to charities preparing th¢ir a¢¢owits in accordance with the Financial Reporting Standard applicable in the UK and the Republic of Ireland (FRS 102) {effective l January 2015) - (Charities SORP 2019 (FRS 102)). the Financial Reporting Standard applicable in the UK 4md Republic ofireland (FRS 102) the Companies Act 201. Sione meets the def]nition of a publie b¢ncfrt entity wid¢T FRS 102. (b) Cash flow statement Th¢ Charity has prcparcd a statcment of cash tlows using the indirect method. (c) Funds GcD¢ral funds are unrestticted funds available for use at the discretion of the Trustees in fLtherdn(% of the general objectivcs of thc Cljarity aljd which have not i1 designated for other pufj)oses. There dcsignatcd funds and no restrÈcted funds. (d) Interest payable Interest payable is reLxJgnised in the Statement of FinancÉal Activitics in thc y¢ar in which th¢y are incurr {e) Incoming resources All inCo]ng re50urecs are accounted for .hell the Charity l]as entstlement to the fimd4 probability of receipt and the amount is measurable. Where income is received itL &dvance of A perfort[th[ or other S¢ir1ed service it is deferred ntil lh¢ charity is cntitlcd to that income. ID Resources expended 8nd irnover&ble VAT All resourcc5 exp¢nded arc r¢cogDiScd oncc there is a legal or cons1CtIve obligation to makc a paymcnt to a third party. AU rcsouw¢s ¢xpcnd¢d ¢Ilfied under activity headings that aggregate all costs relatcd to thc catcgory. Donations are charged in the year when formally awarded by the Trustees and communicated to the recipienL Irre5pe¢tive of the year wvered by the donatio as they arc rcgaTded by thc Truslc¢s as fanCial obligations. Irrecoverable VAT is cFw8ed against the category of rwurces ext*nded for which it w&s incurred. {g) Going concem The Trustees consider that there are no rnatrriai uncertainties atrx)ut the Trusvs ability to continue &s a going concern. These financial statements are prepared under the going concern 3ssumplion. The Charity 5ha]I considered a going concern unless the Ttustees coSIder the purposos of the Charfttv longer applicable or deem that they are no Ioll8er able to source fidIng to meet the puTSeS of the Charity. or bave no Tealistic alternative but to wind up the Charity. 12
STO NOTES TO THE FINNCIAL STATEI¥IENTS FOR THE ITAR Ef4DED 31 MARCH 2025 2025 SUPPORT COSTS Builditsg Deytlopmettt rtistit ofptrforniattee progrmme Spgce GBP Total 2025 GBP Basis of GBP Governance [0[ation tecknology Payroll administratioIi Generat management 1.040 700 1,172 135.436 2,080 1,399 2,343 270,872 Tim¢ SF¢nt Time sFnt Tirlle ttt Time spent 699 1,171 135,436 138.346 13&348 276.694 2024 SUPPORT COSTS Building DeveloprneDI artistie of perfomDee programEne spaee Total 2024 GBP Bsis of GBP GBP Governance tnforn)ation technology Payroll adrninistrdtiorL General managernent 2,388 2,157 635 110,108 2.387 2.156 634 110,108 4,775 4.313 1.269 220.216 Time Snt I'ime spent Time spent Time spent 115.288 I15285 230,573 ANALYSIS OF EXPENDITURE OY CHARITABLE AcfiviTIES Ytsr ended 31 M*Yeb Totsl 2025 GBP Year eDded 31 Mareb 'rotal 2024 GBP Aetivities Grant httdtttg undertakell dirfftly of actKviti GBP GBP Support costs GBP Building artistic programme 67.517 276,694 344,211 340,681 67.517 276.694 344.211 340,681 13
STO OTES TO THE FLYAIlCtAL sfATEMEiwrs FOR THE YEAR EhDED 31 MARCH 2025 ANALTrSIS OF EXPENDrruRE BI. YATURE Year ended 31 M4rch 2025 GBP Year ended 31 M*reb 2024 GBP Agency fees Annual premises iiiynce fee Bank oharg¢5 Bu5ine&8 property Communications Company fees Computcr equipment CourÉ¢r a[ postage IS Due5 and 5ub5criptions Electricity Employels NIC Employe¢s pension wntributioos Evcnt ¢xpendt Independellt examineTS fees Insurance Legal and professional fees larkcling ¢0sts Mea15 and h05Pitaiity OtTice equipmettt Officc supplies Performance expenditure Project expenditure Project mattageent fees Rcpair5 and maintcnance Rcscarch cxpcnditurc Security Statutory maternity Pay Subscriptions manuals & publications Travel and accornmodation Wages and salaries Warehousing & stordge Water 9.300 590 231 4.919 5.060 40 .399 26 12.588 249 3,345 3,732 3.575 3.398 15 40 20,549 9.180 2,470 67,638 2.160 31,372 19,670 ioii 1,178 28.924 8.284 3,372 65,896 2,040 45279 2,122 1292 837 264 300 225 2,909 19.620 7,751 14.507 24241 2.219 4,162 (3.(X)8) 3.466 ,511 114,547 4.058 (7.585) 1,214 815 120,944 3.120 1.390 2,691 344,211 340.681 14
STO NOTES TO THE FINCIAL STATEMElYtS FOR THE YEAR ENDED 31 MARCH 2025 ANALYSIS OF STAFF COSTS Year eDded 31 Mar¢b 21125 GBP YeAr ended 31 March 2024 GBP Saiari¢s and wages Emplo)¢ls NIC contributions ETnployeVs pension contributions Statutorv maternity. pay 114,547 8,284 3,372 {3.008) 120,944 9,180 2.470 {7.585) 123,195 125.009 One employee emolumellts in ex¢¢s5 of GBP 60,IKK) dwing y¢ar. The Cbarity TThteeS were aot paid or reimbursed eXlse5 durttig the year and no Charity Trustee received any emolument or payment for pTh)fessional or other ser%'ices. STAFF YUMBEILS The average number of ll-tiM¢ equivalent employees during the yearlperiod was as follows: Year ended 31 Mareh 2025 Year end¢d 31 Marcb 2024 Number Number TAXATION The Charity is exernpt fiDm tax on income and gains failing within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable G8in5 Act 1992 to the extent that these are applied to its charitabl¢ objects. CASH AT BANK 2025 CBP 2024 GBP Natwest ¢UTr¢nt t¢count- GBP Casb held byl {owll)g to) payroll provider 43,987 io 90.624 (314) 43,997 90JIO 15
STO NOTES TO THE FTh ANCIAL STATEMENTS FOR THE YEAR EED 31 MARCH 21125 io CREDITORS D ACCRUALS 2025 GBP 2024 GBP ACcnl for irtdep¢nd¢nt ¢xominefs review fee Oth¢T ¢r¢ditors and accruals 2.040 9.438 1,980 11,478 1.980 li ANALYSIS OF ASSETS BETWEEN FUNDS UDrestric¢ed Dds GBP Restricted d5 GBP Total 2025 GBP Total 2024 CBP Cash at bank C&8h held by third parties Prepayments D¢btors Dcposits received AccnEa15 43,987 10 4.(Hl 49 43,987 io 4.041 49 90.624 (314) 873 392 (5,000) (1,980) {11.478) (11,478) Total 36.6(W) 36.609 84,595 12 ANALYSIS OF MOVETrIENfs LY UNREsfRicfED FUNDS Broughi fonv¥rd Carried forward CBP Income Expenditsre C.BP GBP GBP General fund 84595 296,225 (344,211) 36.609 Totsl 84.595 296.225 (344.211) 36,609 13 RELATED PARTIF Any connection between a TnL8tee or senior manager of th¢ CbaTity with a produclion company, contracted actor. perfomier or ¢xhibitor must disclosed to the fi)11 board of TnL8lees in the same way as any other ontractual relatiOll5hip with a relat¢d p8rty. In current year no such relatcd party transakOnS were rerted. The Charity 15 CWfEntly omipyiog the PTop¢ty kDowD as 136 Shaftesbury Avenue, the abov¢ mention¢d principal office, on a Licence to Occupy for nil consideTation. Yvon Patrick Le Floclb on¢ of tbe Charity's trustee4 is also the sole director of Balta Limited- th¢ laudlord of the protty. Erica Ctump is & partner of Bates Well& a law fimi bistorically providing legal advire to the Charity on olle matter Wkne the firn] h&8 historically advised the cFwity. Bates Wells ha5 not been insttucted to provide legal advice on Jny other tnatter (and any new instructiot]s would need to lollow a conflicts proc¢s5 specifically adopied by the trustees for aPIntIng Bates Wells). In any evenL the services totall¢d GBP llil in this year (2024.. GBP nil) and Bates Wel]s discontinued the provision of Tegislered oifio¢ services effective 23 June 2025. Services in the prior year totalled nil in the current prior years. As at the year end there was no work in pr9$5 with Bates Wells. No employee is considered to be key managerDent pEThonn¢l. 16