REGISTERED COMPANY NUMBER: 09187162 IEn8land and Wales)
REGISTERED CHARITY NUMBER: 1161483
Report of the Trustees and
Flnancial StstÈmènts
for the Year Ended 310ecember 2023
for
KH THEATRE LIMITED
Calcutt Matthew5 WBZ Ltd
19 North Street
Ashford
Kent
TN24 8LF

KH THEATRE LIMITED
Contents of the Financial Statements
for the Year Ended 31 December 2023
Page
Chairman'5 Repgrt
Report of the Trustees
Report of the Independent Auditors
9 to 11
Statement of Flnantial Activities
12
Balance Sheet
13 to 14
Cash Flow Statement
15
Notes to the Cash Flow Statement
16
Notes to the Financial Statements
17 to 26

KH THEATRE LIMITED
Chairman's Report
for the Year Ended 31 December 2023
KH THEATRE LIMITED
CHAIR OF TRUSTEE'5 REPORT
For the Year Ended 310ecember 2023
This year was a significant one for the charrty, with full planning permission bein8 granted by Islin8ton Borough Council for
Its new purpose-buili home at 116 Upper Street in April, construction work be8inning on site in June, closure of its original
pub theatre home at 115 Upper Street in August, and rehearsals beginning for the opening producrion of the new theatre
in Decernber, ahead of the public opening set lor early January 2024.
The new theatre feature5 a flexible and acce55ible 200-seat main house theatre, a 50-seat cabaret Space, two bars, and
state-of-the-art technical and environmental facilities that allow the charity to look ahead to the next five decades wlth as
much confidence as the King's Head Theatre's founder Dan Crawford dld when he opened the pub theatre in 1970.
Recognising his legacy, the trustees dedicated one of the new batkstage spaces to Dan In his mèmory. with a neighbouring
room named to commemorate Girls Rabinovitch, the visionary develgper whose work over many years made the Islington
Square concept a reality before his deaih in 2020.
Thè trustees and staff remain hugely grateful for the sUPPOrt of the Mayor of London through Round Three of his Good
Growth Fund, as our key funder5 for the move. together with the support of our pub theatre landlords Young's. new
landlords Cain International, the hugely supporknve local authortty Islinston Borough Council and the local tommunitV* who
all continue to champion the Charity's decision to move premises.
Alongside the work on the capttal projert, the final season at the pub theatre was artistically acjventurous - curated by four
6ue5t 3rti5tic directors, each bringing their unique offering to their part of the season. This, and other programming
throughout the final months of the pub theatre, proved popular with audiences. with attendance rebounding notably
compared to how the box office fared after the covld closure period of 202011. The ch3rity'S dedi¢ated staff team continues
to be led by ExecL*tive Producer and acting CEO Sofi Beiewbger, who a5 well as programming great show5 at the pub theatre
Is working closely with the charity's capStal projert dirertor Louise Chantal and the trustees on the new theatre. The team
working ort the new theatre has expanded considerably in 2023, with our project mana8er5 Thomas & Adamson workin8
closely with architects Storey & Co, public welcome deslgners Pup Archltects and contractors Albany International.
This IS the eighth and hnal time I will be comMen￿nE on the charlty's year in these accounts. wlth my commitment to stèy
on beyond my original six-year term as chair and trustee eomlng to a tontlusion with the opening of the new theatre. It hès
been a great privilege to work alongsidè my fellow trustees, the staff of KHT, and all of the charity's invaluable partnèrs both
at the pub theatre and on the realisation of the new theatre.
Although the covid pandemic c105ure period wa5 challenging both to the charity's Su￿1Val and the feasibility of the new
venue plans, it ha5 been inspirational to witness the breadth and depth of support for the King's Head Theatre from all areas
Df the community and theatre ind¢Jstry during my time on the board. and I trust that these lirTrks and roots will only extend
and deepen thanks to the huge potentlal of the new theatre to further the charity's reputation as a cuttlng-edge fringè
theatre showcasing the best work from both new and established artists. As part of that, the newty established Angels of
Angel fund supporttng new shows at KHT Is an essentSal rÈstsurte that I hope will gain ongoing support to allow brilliant
theatre to thrive on Upper Street.
I look forward to continuing to visit KHT as a producer and audience member for many years to come.
James Seabrlght, Chair of Trustees
Page I

KH THEATRE LIMITED
Report of the Trustees
for the Year Ended 31 December 2023
The trustees who are also directors of the charity forthe pvrpose5 of the Companies Art 2006, present their report with the
)Inancial ststements of the charity for the year ended 31 December 2023. The trustees have adopted the provisions of
Accounting and Reporting bycharities.. Statement of Recommended Practite applicableto charhties preparlng their accounts
Sn accordance with the Financial Reporhng Standard applieable in the UK and Republic ot Ireland IFRS 1021 (effective I
January 20191.
OBJECTIVES AND ACTIVITIES
Oblecttves and alms
The Trustees are pleased to present their annual report together with the consolidated financial statements of the charity
for thè year endin8 31 December 2023, which 15 a150 a director'5 report for the purposes of the Companies Art 2006.
The linancial statements comply with the Charitr'es Act 2011, the CompanSes Act 20c￿, the Memorandum ènd Arttcles of
Associats"on, and the Statement of Recommended Practice- Accountt"ng and Reporfjng by charln.es SQRP FRS 102 (effective
I january 20151.
This report looks at what the Charlty has achieved and the outcomes of its work in the reporting period. The tTustee5 report
the success of each key activity and the benefits the charity has brought to those groups of people that It Is set up to help.
The revlew also helps the trustees ensure the charity's activities remain focused on tt5 Stated objectives.
Obiertives and ArtlvStl•s
Our prlncSp31 oblethves are..
To present ambitious theatre and opera that supports. develops and values our arhsts, staff, audiencès and a to be the most
ethically and socially responsible fringe theatre in the UK known for its challenging work and support of young artiSt5.
To commit to fighting prejudlce through the wgrk we stage, the artists and staff we work with and by producin8 work for
minorwty audience groups.
To promote fair pay for all on the fringe 3nd to create accessible routes for eady career artists to stage their work.
Significant artivitles
Present a broad range of production5 covering theatre. opera and musica15 Wlth Jcces51ble ticket price5 at the King's Head
Theatre in London.
Offer opportunithes for regular theatre goers to see ntw work and revivals of work that have not been staged in the UK
before.
Employ tslented emerging artist5 and provide a supportive environment for them to develop their craft and advance ihelr
careers.
Provide training programmes for emerging dlrectors and producers and support for thebr tonttnulng professlonal
development.
To take a leadership role in gethng the Sndustry to follow our commitment to fair wa8es on the fringe and only stagin8
work which agrees to pay fair wa8es.
Page 2

KH TrIEATRE LIMITED
Report of the Trustees
for thÈ Year Ended 31 De￿mber 2023
OBJECTIVES AND AcfiviTIES
Public benefit
Charitable 8th¥1￿e$- Produrtlons
In 2023, the King's Head Theatre IKHTI closed its doors on its historical pub theatre whilst the final works on its new home.
right behind the existing site in Islington Square, were completed. The pub theatre continued to operate until the 13th ol
August 2023. now at full programming and operational capacity having recovered since the pandemSc; though ticket sales
on the whole remained s￿￿1￿Cant1¥ behind its pre-2020 hgures.
The pub theatre's final six months featured a Guest Artistic Directors programmè, supported by Arts Council England, whith
provided four mid-career LGBTQ+ theatre prathJoners the opportunity to gain valuable experience and trainin8 in running
a theatre, curating a programme, WOTkln8 and nurturing their programmed arrists and in the role of arris￿C dlrectorshlp.
The four guett artistic directors were Isabel Adomakoh Youn& Tom Ratcliffe, Tania Azevedo and David Ctsmming.
Isabel Adomèkoh Youn8 15 an actor and drag king performer. Their season spanned theatre. tabaret, drag. comèdyand other
plarforms with a focus on showcasing diverse talent. It featured a seTies of tsne-week runs whith included Perverts by Alice
McKee which feturned later in the year for a full three week run.
Tom Ratcliffe's season fotUS5ed on new writin& world premiering BTeedin8 by Barry Mcstay for a three-week run which
opened to rave reviews and stron8 audtence reacknons. It also featured a week of work-in-progre$5 performances by
emerging LGBTQ+ writers in a new writing festival co-curated by Rikki Beadle-Blair MBE. Breeding went to be programmed
in the openSng season of the new King's Head Theatre. ènd multSple shows in the new writing festival are now tourin8 the
UK with Emmerson & Ward Produthons.
Tania Azevedo'5 seasorb 5howca5ed new LGBTQ+ musical theatre includlnB viral-sensa￿0n Diary of a Gay Disaster, a son8-
cycle Lifeboats by Gus Gowland and fringe cult-hit Juliel The Musical. David Cumming's linal season, which closed the pub
theatre. looked at "Queer Futures" with Dogmouth Theatre's 1(K)O Ways The World Will End and How It Will start Again
which wa5 the final production in our 53-year-old pub theatre. The pub theatre closèd on 13th August 2023 with a gal
celebration eventfeaturing performancesfrom Steven Berkoff. Mark Gati55, Damejanet Svzman and Linda Madowe, h05ted
by David Cumming.
Outside of the Guest Artistic Director programme. the theatre co-produced Mediocre White Male starring and written bv
Will Closè and dirèttÈd by Joe von M31achowski, and also hosted a three.week run of Fringe First Winnin8 Production And
Then The Rodeo Burned Down.
Overall, in 2023, 20,694 people Saw a production at KHT, compared to 24,072 people in 2022 and 44,855 In 2019. Thls was
an average of 2,956 per month of operation. an increase of approximately 68% versus 2022 and dètrease of approximatÈlv
26% versus 2019. After the pub theatre'5 c105ure, the organisètion's focus wa5 On the capital project and opening of it5 new
home at 116 Upper St. London. After a si¥-month fit-out, the new theatre is set to open in January 2024.
Selerted reviews Include..
**** 'There's nothin8 mediocre about this dark and complex tale"
Daily Mall on Medittre White Mèle
**** 'it's beautiful. honest and raw storytelling done terrifically well Theatre Weekly on Breeding
**** 'McArdle is funny, his comedic timing is excellent, including skillfully lethng jokes sit with the audience. He makes
good use of all the space in the King's Head Theatre"
Everything Theatre on The Mannv
**** 'The play takes us on a well-planned emotional path- it feels like we're in safe hènds wrth wrikn.ng like this. It leaves
the b￿gest emotional hit to the end.- The Revlews Hub on The MP, Aunty Mandy and Me
Page 3

KH THEATRE LIMITED
Report of the Trustees
lor the Year Ended 31 December 2023
OBJECTIVES AND ACTIVITIES
Volunteer5
STRATEGIC REPORT
AchlÈvÈmtnt and performanc•
Charltable artl¥ltles
Equlty abd Falr Employment
The King's Head Theatre remains committed to fair employment and has a lantastic relationship with Equity, thè UK'S largest
trade union for the performing arts. We are proud to be one of the very few 5mall-5cale unfunded theatre5 in the UK to
have on Equity House Agreement. This has been in place sin¢e 2011, at which point it was the tirst a8reement of its kind.
Since then. over 300 venue5 and production companies have signed up to the agreement, whieh has brought milllons of
pounds in wages to ador5 and stage managers.
Gender and Equallty Pollcv
In 2018 the King's Head Theatre Implemented a Gender and Equality Policy, furthering our aim to lead the way in making
equitablefringe theat￿. With immediate effect, we committed to working annually with 50% non-male artists and creatives.
and to offer at least 50 hours a year to mentoring and helping emerging companies and championing ethical employrnent.
As the 5ertor continues to recover from the pandemic, and responds io a Changing landscape, it is clear we need to r¢-define
some of these benchmarks, and this a cOn￿nuing process as we also move Into the new venue.
Audlences
Demographic data for 2023 indicates 8% of audience figures represented patrons under the agè of 30. Thls is an increase
on 2022, with audiences under 30 making up ?% of total audiences. Of thi5. 14% of audience5 were between the ages of 26-
35 in 2022 - making up the largest age demographic in retorded data - but in 2023, this 5hol up to 22%. Patrons over the
age of 66 made up 5.9% of audiences for the year in 2022, falling to 3.2% for 2023 which sug8est5 a movement in our
audience reach towards younger audience5 in line with the variance in data towards those aged 26-35 In 2023.
In 2023, 6.1% of audience member5 were based in our immediate vlcinlty Nl. versus 6% in 2022 however the total Nl
3ttendance figure for 2022 was 1455 versus 1258 In 2023, bearing irt mind 1.162 p05tttsde zone5 were retorded for 2022
gainst 1.159 postcode zones in 2023. whilst unique postcode zone figures remain fairly consistent, data indicates that our
audience reach has extended beyond Nl which presènts further opportunities for the venue's outreach.
Fundralslng actl¥Ftles
Through our Support The Kings Head fund. we have seen a drop in average donation5 per customer from £25.73 in 2022 to
£24.81 in 2023. It is Important to note that the difference is widened by the overall drop in total atjdience numbers by 16%
from 2022 to 2023. This remains considerably lower than pre-pandemic levels. However. excluding any membership
scheme5, donation5 continue to represent 6% of total income through Spektiix yèar on year. Butket donations ft)r 2023
equalled £7,282.74.
Staff Tearn
In 2023 the artisttc programme was overseen by Executive Producer (Athng CEOI Sofi 8erenger and the Guest Artisti¢ Dire
Unfortunately. a number of staff roles were made redundant following the closure of the pub theatre and a restructure in antidpa
of the openin8 of the new theat￿ in Islington Square.
Page 5

KHTHEAThE LIMITED
Report of the Trustees
fgr the Year Ended 31 December 2023
STRATEGIC REPORT
Finantial rev5ew
Flnanclal posltlon
IoKome
The total unrestricted income eamed for the period was £516.946.
The total restricted intome earned for the period in relation to the capitsl project was £1,245,000.
VO￿nt•ry Income
We received £152,171 in donation
Theatre and Productton Income
We ￿ceiVed £276,884 from ticket sales and associated booking fees.
Cost of Charltable Activities
Tbe total operational expenditure for the period was £469,594.
Investment poll¢¥ and obleftl¥es
The trustees, having regard to the liquidity requirements of operatlng the theatre, have kept avallable funds In an interest-
bearing deposit account.
Reser¥e$ polky
At 31st December 2023 the charity had unrestrirted reserves of £253,38012022 £197,152) and restricted reserves of
£1.429,66512022 £195,415) givin8 3 total reserves balance of £1,683,04512022 £392.5671.
The company's reserves policy indicates that there should be three months, worth of operation expenditure of unrestritted
reserves on the balance sheet and this crlterion is mèt at 31 December 2023. There are no concerns regarding the charity's
ablllty to conttnue to operate.
Flnantlal and rlsk management objethves and polici•5
The TrLtstees continue to review the malor risks to which the Charity is exposed and are establishing systems to mltlgate
any risks not already coverÈd by the Charity's existing systems and risk management Strategies and controls.
Particular current key risks include..
Vulnerability to drops in generated and voluntary income. The Charity is especially vulnerable to this in this period
when our reserves are not yet at the level the trustees have deemed desirable.
Changes in the political climate, cultural policies and economic health of the country that may have a negative impact
on KH Theatre Limited and the arts or8anisations. artists, audiences, and participants that it works with.
Future departures of key members of staff, a risk whlch is monltored.
Competftor organisations eThterin8 our market space.
Theatre companies and venues are under threat in terms of reduced income from Arts Council England. local
authoritie5, Other funders, and audiences, potentially resulting in less income or increased contrn tosts for the company.
The Trustees regularly monltor these risks. their consequen￿4 and appropriate ways to respond. The Trustees note that a
key element in the management gf financial risk is the 5etts.ng of a Teserves policy and its regular review by the Trustees.
Page S

KH THEATRE LIMITED
Report of the Trustees
for the Year Ended 31 December 2023
5TKATEGIC REPORT
Future plans
As the theatre prèpares to open its new Venue in lslington Square - featurlng a 2(X) seat audltoilum, 50 seat cabaret venue,
multiple bars and office space the theatre will 80 into a period of stabillslng the new operational model. rebulldlng Staff
team5 and a look towards future business planning tor the organisatron in Its new home. With over double the ¢?pacity in
s new main auditorium the organisatson will need to reart accordingly to the new commercial pressijres and scales of the
work.
STRucfuRE, GOVERNANCE AND MAfiAGEMEMT
Governlng document
The¢harity is controlled byits governingdocument, a dèed of trust, and tonstitutes a limited company, limited byBuarantee,
as delined by the Companies Act 2006.
An￿-Ra¢I$M Commhment
The King's Head Theatre has alway5 fostered diverstty and inclusion, and now, morethan ever, we stand with the Black Lives
Matter movement. The Kirtg's Head Theatre rnust be a home for everyone to feel welcome to tell their stories and for us
collectlvely, to change our world f¢r the better. To all our artists, audiences. stsff and community across the world. know
that we will not tolerate racism in any form. We wlll reflect that In everything we do. And while our doors may currently be
shvt, we commit anew to reflecting and protecting our exceptional and diverse society. Today and alway. we Stand with
our Black colleagues and with our community as we fight for a more equal world.
Goveming Dotymenl
KH Theatre Limited is a company limited by guarantee governed by its Memorandum and Article5 of Association dated 24th
September 2014. The current member5 of the company are the Trustees. The liability of the member5 of the company is
limited by guarantee. In the event of the company being wound up during the period of membership or within the year
following, members are required to contribute an amount not exceeding £1.
There were 9 members as at 31.12.2023. The Trustees did not receive any benefft5 in the year.
ReryUiln￿1t and appointment of new trustees
Appolntment of Tru5tee5
Any Tnjstee is entitled to nominate people for board membership and names go forward to be approved by the Board of
Trustee5. The Trustees represent a core of specialist skills, including but not limited to arts administration, programmlng
and producing. international lav4, technical theatre production and HR. An essenttal requirement Is a passion for theatre
generally and the work of KH Theatre Limited particularly, and a desire to increase access to theatre and audiènce diversity-
Organisational strurture
The Board of Trustees oversees and is responsible for the admirtistration ot the company. The board meets at least four
times during the year. Senioi staff are appointed by the Trustees with delegated authority to manage day to day operations
of the chartty.
Page 6

KH THEATRE LIMITEO
Report of the Trusiees
for the Year Ended 31 Decèmber 2023
STRUCTURE, GOVERNANCE AND MANAGEMENT
Induction and tralnlni of new trustees
Potential new board members are given the opportunity to meet the Chalr and a senlor staff member before being invited
to meet the full Board of Trustees and observe a board meeting.
Key management r¢muner4fjon
The Trustees consider the Board of Trustees as comprising the key management personnel of the tharity in char8e of
direthftg and controlling the charity and running and operating the charity on a day-to-day basis. All trustees give of their
time freely and no trustee remuneration was paid in the year.
REFERENCE AND ADMINISTRATIVE DETAILS
Reglstered Company number
09187162 IEn8land and Wales)
Rezlstered Charlty number
1161483
Re8lst•red offite
115 Upper Street
London
NI IQN
Trusttès
M L Lèuder (resigned 28.3.231
J A R Se3bright
M Waiting
R J Williamson
K Farrell
A Porter
M Hedges
H William50n (appointed 18.4.231
K Mullan (appointed 18.4.231
R Khan lappointed 4.12.231
Auditors
Calcutt Matthews WBZ Ltd
19 North Street
Ashford
Kent
TN24 8LF
STATEMENT OFTRUStEES' RESPONSIBILITIES
The tru5tee5 Iwho are also the director5 of KH Theatre Limited for the purposes of company lawl are responsible for
preparingthe Annual Report and theflnancial statements in accordance with applicable law and United Kingdom Accounting
Standards (United Klnedom Generally Accepted Accounting Practicel.
Page 7

KH THEATRE LIMITED
Report of the Trusiees
for the Year Ended 31 December 2023
STATEMEKf OF TRUSTEES. RESPONSIBILITIES- continued
Company law requires the trustee5 to prepare financial statements for each financlal year whlch glve a twe and falr vSew of
the stste of affairs of the charitable company and of the incoming resources and application of resource5, including the
income and expenditure. of the charitable company for that period. In Preparing those financial statements, the trustees
are required to..
select suitable accounting policies and then apply them rpnsistentlv,.
observe the methods and principles in the Charity SORP,.
make judgements and estimates that are reasonable and prudent,.
state whethèr applicable accoLJntin8 Standards have been followed, subject to any material departyres disclosed and
explained in the financial statements,.
prepare the flnancial statements on the going toncern basis unle5$ it 15 inappTopriatÈ to presume that the charitsble
company will tontinue in busine55.
The trustees are responsiblefor keepin8 proper accounting records whlch dlsclose wlth reasonable accuracy at any time the
thnancial position of the charitable company and to enable them io ensure that the financlal statements comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking
reasonable steps for the prevention and detection of fraud and other irrègularities.
In so far as the trustees are aware..
there is no relevant audit information of which the charitable company's aLtditors are unaware,. and
the trustees have taken èll steps that they ought to have takerb to make themselve5 aware of any ielevant audit
information and to establish that the auditors are aware of that information.
AUDITORS
Report of the trustees, incorporatr'ng a Strategic report, approved by order of the board of trustees, as the company
1410612024
directors, on...
and signed on the board's behalf by:
Trustee
Page 8

Report of the Independent Auditors to the Trustees of
KH Theatre Limited
Oplnlon
We have auditetj the financial statements of KH Theatre Limited Ithe 'charitèble company'l for the year ended
31 December 2023 which comprise the Statement of Finantial Athvifjes, the Balance Sheet, the Cash Flow Statement and
noie5 to the financial statements. including a summary of Significant accounting policies. The financial reporting framework
that has been applied in their preparatign is applicable law and United Kingdom Accounting Standards (united Kingdom
Generally Accepted Accounting Practice).
In our opinion the financial statements..
give a true and fair view of the state of the charitsble company'5 affairs as at 31 December 2023 and of its incomin8
resources and application of resources, in¢luding its income and expenditure. for the year then ended..
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice.. and
have been prepared in accordance with the requirements of the com￿nIt$ Att 2006.
Ba$15 for oplnlon
We conducted our audlt in atcordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our
responsibilitie5 under those standards are further described in the Auditors. responsibilities for the audit of the financial
5taternent5 Section ol our report.
We are independent of the charitable company in accordan￿ with the ethlcal
requirements that are relevant to our audit of the financial statements in the UK, including the FRC'S Ethical Standard, and
we have fullilled our other ethical responslbillfjes in accordance with these requirements. We believe that the audit
evidence we have obtained Is sufficient and appropriate to provide a basis for our opinion.
Concluslons relatln8 to ¥oln8 concern
In auijiting the financial statements, we have concludèd that thè trusiees, use of the going concern basls of a¢counifn8 in
the prep3ration of the financSal ststements is appropriate.
Based on the work we have pèrformed, we have not identified any material uncertain￿e$ relating to events or condlttons
that, individually or¢olle¢D"vely, may ¢ast5ignificant doubt on the charitable company's ability to continue asa going conorn
for a period of at least twelve months from when the financS2l statements are èuthorised for Issue.
Our responsibilities and the responsibilities of the trustees with respert to goin8 concern are described in the relevant
sections of this ￿port.
Othèr Informatlon
The trustees are responsible for the other information. The other infoimation tomprises the Informaiion included in the
Annual Report, other than the financial statements and our Report of the Independent Audilor5 thereon.
Our opinion on the financial statements does not cover the other infomiation and, except to the extent otherwise expliatly
ststed in our report, we do not Èxpress any form of assurantè contlusion thereon.
In Connection w￿h our èudit of the financial statements, our responsibility is to read the other infomiation and, In doing 50.
consider whether the other information is Material￿ inconslstent with the financlal staiements, or our knowledge obtained
In the audit or otherwise appears to be materially misstated. If we Identify such material inconsistenties or apparent
material misstatements. we are required to determine whether this g6ves rise to a material misstatement in the financial
statements themselves. If, based on the work we have perlormed, we conclude that there is a material mi5ststement of this
other informats'on, we are required to report that fact. We have nothin8 to report in this re8ard.
Page 9

Report of the It)dependent Auditors to the Trustees of
KH Theatre Limlted
Matters on whlth we arè requTred to report by exceptton
We have nothing to report in respett of the following matter5 where the Charitr'es IAccounts and Reportsl Regulations 2008
require5 U5 to report to you rf. in our opinion=
the information gtven in the fteport of the Trustees is incon5iStent In any material respea wlth the financlal statements,.
or
the charitable company has not kept adequate a¢countin8 records; or
the financial statements are not in a8reement with the accountin8 records and returns,. or
we have not received all the information and explanations we require for our audit.
ResponslbTlitle5 of trustees
As explained more fully in the Statement of Trustees, Responsibilities, the trustees Iwho are also the directors of the
charitable company for the purposes of company lawl are responsible for the preparation of the thnancial statements and
for bein8 5atisfled that they 8Sve a true and fair view, and for such intemal control as the trustees determine is necessary to
enable the preparation of fi'nancial statements that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements. the trustees are responsible for assessing the charitable company's abllity to continue
as a goin8 concern. disclosing. as applicable, matters related to goin8 concern and using the going concern basis of
accounting unless the trustees either intend to liquidate the charitable company or to cease opera￿Orts. or have no reallstic
alternative but to do so.
Our responsibtlities for the audlt of the financlal statements
We have been appolnted as auditors under Settion 144 of the Charities Act 2011 and report in accordance with the Act and
relevant regulations made or having effect thereunder.
Our oblethves arè to obtain reasonable assurance about whetherthe financial 5talements a5 a whgle are freefrom material
mlsstatement, whether due lo fraud or e￿Or, and to issue a Report of the Independent Auditors that includes our opinion.
Reasonable a55urance is a high level of assuranee. but is not a guarantee that an audit condurted in accordance with ISAS
UK) wlll always detect a material mlsstatèment when it exists. Misstatements can arise from fraud or error and are
considered material If. Indivldually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these financial statements.
A fitrther description of OUT responsibillties for the audlt of the th"nancial statements is located on the Financial Reporting
Council's website at www.frc.org.uvaudltorsresponsibilltses. Thls description forms part of our Report of the Independent
Auditor5.
Page 10

Report of the Independent Auditor5 to the Trustees of
KH Theatre Limlted
Use of our report
This report 15 made solely to the charitable company's trustees. as a body, in atcordanee with Part 4 of the Charities
(Accounts and Rèports) Regulations 2008. Our audit work h3s been undertaken so that we mlght state to the charitable
company's trustees those matter5 we are required to state to them in 3n auditors, report and for no other purpose. To the
fullest extent permitted by law. we do not a(￿pt or assume responslbllity to anyone other than the charitable Company
and the charitable company's tru5tee5 as a body. for our audit work, for this report, or for the opinions we have formed.
Xeinadin Audit L(mited
Eligible to act a5 an auditor in terms of Sèction 1212 of the Companie5 Act 2006
19 North Street
Ashford
Kent
TN24 8LF
Date..
Page 11

KH THEATRE LIMITED
statement of Financial Activities
IOT the Year Ended 31 December 2023
31.12.23
Total
funds
31.12.22
Total
funds
Unrestricted
fund
Restricted
fund
Notès
INCOME AND ENDOWMENTS FROM
Donations and legacies
152.172
152.172
78,124
Charltable actSvltles
Encouragement of the Arts
360,894
1,245.000
1.605,894
334,032
Investment income
3,881
3,881
1,932
Toial
516,947
1,245,000
1,761,947
414,088
EXPENDrruRE ON
Ralsin8 funds
1,691
1,691
Charitable actlvltfes
Encouragement of the Arts
459,028
10,750
469,778
574,247
Total
460,719
10,750
471,469
577,291
NET INCOMEIIEXPENDmJftEI
56,228
1.234,250
1.290.478
1163.2031
RECONCIIIATION OF FUNOS
Total funds brought lorward
197,152
195,415
392,567
555,770
TOTAL FUNDS CPJIRIED FORWARD
253,380
1,429.665
1.683,045
392,567
The notes form part of these financial statements
Page 12

KH THEATRE LIMITED
Balan￿ Sheet
31 December 2023
31.12.23
Total
fund5
31.12.22
Total
funds
Unrestitrted
fund
Restricted
lund
Notes
FIXED ASSETS
Intangible assets
Tangible assets
12
13
2,355
289,711
2,355
1,534,711
2,777
172,6S7
1.245,OCQ
292,066
1.245,DJO
1.537.066
175,434
CURRENT ASSETS
Debtors
Cash at bank
14
166,715
99,079
44.788
139,877
211.503
238,956
237.295
216,219
265,794
184.665
450,459
453,514
CREDITORS
Amounts fallin8 due within one year
15
1304,4801
1304.4801
1236.3811
NE[ CURRENT ASSETS
138,6861
184,665
145,979
217,133
TOTALASSETS LESS CURRENT LIABILITIES
253,380
1,429,665
1,683,045
392,567
NET A55
253,380
1,429,665
1,683,045
392,567
FUNOS
Unrestritted funds
Restrfcted funds
16
253,380
1,429,66S
197,152
19S,415
TOTAL FUNDS
1,683,045
392,567
The trustees acknowled8e their responsibilities for
ensuring that the charitable company keeps accoUn￿n8 records that tomply with Sections 386 and 387 of the
Companies Act 20L)6 and
preparing ffnancial statements which give a true and fail view of the state of affairs of the charitable company a5 at
the end of each financial yearand of it5 surplus oréeficit for each financSal year In accordance wlth the requirements
of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 21J)6 relating to
financial statements. so far as applicable to the charltable companv.
Thesè financial statements havè been audited under the requirements of Sethon 145 of the Charitles Art 2011.
The notes form part of these financial statements
Page 13
continued...

KH THEATRE LIMITED
8alance Sheet- continued
31 December 2023
1410612024
The financial statements were approved by the Board of Trustees and authorised for15sue on.....
3nd were signed on its behalf by-
Trustee
The notes forrn part of these financial 5tstements
Page 14

KH THEATRE LIMITED
Cash Flow Statement
tor the Year Ended 31 December 2023
31.12.23
31.12.22
Notes
Cash flows Irom operatin8 artivities
Cash generated from operations
1.395,947
233,￿6
Net tash provided by operating activities
1.395,947
233,906
Cash Ilows from investiTr8 activities
Purchase of tangible fixed assets
Interest received
11,377,091)
3,881
1102.0451
1,932
Net cash used in Investing activities
11.373,2101
100,1131
Change In cash and cash tquivalènts in the
reportlng pèriod
Cash and cash equ5valents at the be8lnnlng
of the reportlng perlod
22,737
133,793
216,219
82,426
Cash and cash eqU￿alents at the end of the
reportin8 pertod
238,956
216,219
The notes form part of these financial statements
Page 15

KH THEATRE LIMITED
Notes to the Cash Flow Statement
for the Year Ended 31 December 2023
RECONCILIATION OF NET INCOMVIEXPENDITUREI TO CASH FLOW FRQM OPERATING ACTIVITIES
31.12.23
31.12.22
Nèt incomellexpenditure) forthe reporting period las per the Statement
of Flnancial Adivitiesl
Adjustments for:
DeprecÉ3tion charges
Loss on disposal of fixed assets
Interest received
1,25X1,478
1163.2031
13,562
1,899
13.8811
11972
11.9321
Ilnereasel/detreasè in debtors
In¢rease in credltors
123,4251
117,316
260,892
126,177
Net cash providèd by <)perations
1,395,947
233,906
ANALYSIS OF CHANGES IN NET FUNDS
At 1.1.23
Cash flow
At 31.12.23
Net ¢ash
Cash at bank and in hand
216,219
22.737
238.956
216.219
22.737
238.956
Total
216,219
22.737
238,956
The notes form part ofthese financial ststements
Page 16

KH THEATRE LIMITED
Notes to the Financial Statements
for thè Year Ended 31 December 2023
ACCOUNTING POLICIES
Basis of preparln8 the financlal rtatements
The thnancial statements of the charitable company. which Is a public benefit entity under FRS 102, have been
prepared in accordance with the Charitles SORP IFRS 1021 'Accountin8 and Reporting by Charities= Statement of
Recommended Practice applicable to eharitie5 preparing their accounts in accordance with the Financial Reporknn8
Standard applicablè the UK and Republic of Ireland IFRS 1021 (effective I january 20191,, Financial Reporknng
standard 102'The Financial Reportin8 Standard applicable in the UK and Republic of Ireland. and the Companies Act
2006. The financial statements have been prepared under the historical cort convention.
Income
All income IS Teco8nised in the Statement of Financlal ACtiV5￿es once the charity has entitlement to the funds, it is
probable that the Income will be received and the amount can be measLtred reliably.
Expendlture
Liabilitie5 are recogni5ed as expenditure as soon as there is a le8al or constructive obli8ats.on committing the charity
to that expend>ture, it is probable that a transfer of economic benelits will be required in settlement and the amount
tsf the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and ha5 been classified
under headings that aggregate all cost related to the category. Where costs cannot be dlrectly attributed to
paiticular headings they have been allocated to a¢tivitie5 on a basi5 ¢OnSiStent with the use of resour¢es.
Yangiblè fixed assets
Depreciation is provided at the following annual Tates In order to wrtte off each asset over its estimated useful Ilfe.
Freehold propertv
Plant and machinery
Fixtures and fith'ngs
Computer equipment
not provided
25% on reducing balènce
25% on reducin8 balance
25% on reducing balance
Taxation
The charity is exempt from corporation tax on its charitsble actiwkne5.
Fund accoundnE
UnrÈstrictÈd funds can be used In accordance with the charitable objethve5 at the discretion of the trustees.
Restricted fund5 can only be used for particular restricted purposes Within the objects of the charity. Restrictions
arise when specified by the donor or when funds are ralsed for partlcular restricted purposes.
Further eXPlana￿On of the nature and purpose of each fund is Included in the notes to the flnanctral statements.
Hire purthase and lèasinz tomrnitment5
Rentals paid under operating leases are charged to the Statement of Financial Acttvlties on a straight line bas￿ over
the period of the lease.
Page 17
continued...

KH THEATRE LIMITED
Notes to the Finèncial Statements- continued
for the Year Ended 31 December 2023
DONATIONS AND LEGACIES
31.12.23
31.12.22
Donations
Visiting Productions Rental In come
Mernbership and Sponsorship
149,071
2.651
450
65,771
6,553
5,800
152,172
78,124
INVESTMENT INCOME
31.12.23
31.12.22
Interest receivable- trading
3,881
1,932
INCOME FROM CHARITABLE A￿1VITIEs
31.12.23
31.12.22
Aclivity
Ticket Sales
Encouragement of the Arts
251,228
295,871
Friends Scherne
Encouragemèrtt of the Arts
425
450
Merchandise
Entouragement of the Arts
1,302
6,746
Botsking Fees
Encouragement of the Arts
25,656
19,115
Grants
Encouragement of the Arts
79,715
10,000
Gift Aid
Encouragement of the Arts
1,850
Other Income
Encouragement of the Arts
2,568
Capital Grants
Encouragement of the Arts
1,245,000
1.605,B94
334,032
Page 18
continued...

KH THEATRE LIMITED
Notes to the Financial Statements- continued
forthe Year Ended 31 December 2023
INCOME FROM CHARITABLE A￿1vITIEs- tontlnued
Grant5 received, included in the above, are as follows-
31.12.23
31.12.22
58,500
5,OC
General
Equitsble Charitable Trust
5,0(￿1
Arts Council England
21,215
79,715
10,000
RAISING FUNDS
Other tradln8 artlvltSes
31.12.23
31.12.22
Purchases
1,691
CHARITABLE ACtIVlTIES COSTS
Support
costs Isee
note 71
Direct
Costs
Totals
Encouragement of the Arts
123,097
346,681
469,778
Page 19
continued...

KH THEATRE LIMtrED
Notes to the Financial Statements- continued
for the Year Ended 31 December 2023
SUPPORT COSTS
Information
technology
Management
Finance
Encouragement of the Arts
263.166
65,905
Human
resources
Other
Totals
Encouragement of the Arts
310
15.992
346.681
NEf INCOMEI{EXPENDITURÉI
Net incomellexpenditurel is stated after ehargingllcreditin81'.
31.12.23
31.12.22
Depreciation- owned assets
Other operatinE leases
Deficit on di5P95al of fixed assets
Development cost5 amortisation
13,139
37,105
1,899
422
11,549
37,200
423
TRUSTEES, REMUNERATION ANO BENEFITS
There were no trustees. reMUne￿￿on or other benefits for the year ended 31 December 2023 nor for the year
ended 31 December 2022.
Trust•es' •xpenses
There were no tru5tee5' expen5e5 paid for the year ended 31 December2023 nor for the year ended
31 Detember 2022.
Pa8e 20
continued...

KH THEATRE LIMITED
Notes to the Financial Staternents- continued
for the Year Ended 31 December 2023
io.
STAFF COSTS
31.12.23
31.12.22
Wages and salarie5
Social security costs
175,8lS
9,984
230.629
13,832
185,800
244,461
The average monthly number of employees during the year was as follows-.
31.12.23
31.12.22
li
Staff
No employees received emoluments in exte5$ Of £60,IYio.
li.
COMPARAMVES FOR THE STATEMENT OF FINANCIAL ACTNMES
Unrestricted
fund
Restricted
fund
Total
fund5
INCOME AND ENDOWMENTS FROM
Donats'ons and legacies
78,124
78,124
Charltable attlvlllès
Encouragernent of the Arts
334,032
334,032
Investment intome
1,932
1,932
Total
414.088
414.088
EXPENDITURE ON
Raising funds
3,044
3,044
Charitable arti¥it5e5
Encouragement of the Arts
569,747
4,500
574,247
Totsl
572,791
4,5¢XJ
577.291
NET INCOMEIIEXPENDMJRE)
1158,7031
14,5001
1163,2031
RECONCIUATION OF FUNDS
Total funds brought forward
355,855
199,915
555,770
Page 21
continued...

KH THEATRE LIMITED
Notes to the Financial Statements- contlnued
for the Year Ended 31 DÈcÈmbÈr 2023
ii.
COMPARATIVES FOR THE STATEMENTOF FINANaAL AcfiviTIES- continued
Unrestricted
fund
Restricted
fund
Total
funds
TOTAL FUNOS CARRIEO FORWARD
197,152
195,415
392,567
12.
INTANG18LE FIXED ASSETS
Development
costs
COST
At l January 2023 and 31 December 2023
4,225
AMORTISATION
At l January 2023
Charge for year
422
At 31 December 2023
1.870
NET BOOK VALUE
At 31 December 2023
2,355
At 31 De¢ember 2022
2,777
Page 22
continued...

KH THEATRE LIMITED
Notes to the Financial Ststements- ¢ontinued
forthe Year Ended 31 December 2023
13,
TANGIBLE FIXED ASSErs
Fixtures
and
fitting5
Freehold
propertv
Plant and
ma¢hinery
Computer
equipment
Totals
COST
At l January 2023
Additr'ons
Disposals
193.578
1,358,275
22,903
5,522
18,816
14,7551
7,501
229,504
1,377,091
114,8431
18,0221
12,0661
At 31 December 2023
1,551,853
14,881
19,583
5,435
1,591.752
DEPRECIATION
At l January 2023
Charge for year
Eliminated on disposal
31,991
9,679
15,291
1,755
17,4321
4,573
1,201
13.9431
4,992
504
11.5701
56,847
13,139
112.9451
t 31 De¢en)ber 2023
41,670
9,614
1.831
3,926
57,041
NETBOOKVALUE
At 31 December 2023
1,510,183
5,267
17,752
1,509
1,534,711
At 31 December 2022
161.587
7.612
949
2,509
172,657
14.
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Trade debtors
Amounts owed by group undertaklngs
Other debtors
VAT
Prepayments
12.105
45.859
35,060
117,694
78S
8.382
188.867
36,454
211,503
237,295
Page 23
continued...

KH THEATRE LIMITED
Notes to the Flnantial Statements - continued
for the Year Ended 31 Detember 2023
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23
31.12.22
Trade Creditors
Amounts owed to group undertakings
Social security and other taxes
Other creditors
Accruals and deferred income
137,207
12,264
5.025
144.634
5,350
99,907
61,481
3,483
65.018
6,492
304,480
236.381
16.
MOVEMENT IN FUNDS
Net
movement
in funds
At
31.12.23
At 1.1.23
Unreslrlcted lunds
General fund
197,152
56,228
253,380
Restr5cted funds
Capltal Projett
195,415
1,234,250
1,429,665
TOTAL FUNOS
392,567
1,290,478
1,683.045
Net movement in fvnds, included in the above are as follows:
Incoming
resources
Resources
expended
Movement
in funds
Unrestrlrted funds
General fund
516,947
1460,7191
56,228
Restrirted funds
Capital Project
I,245,￿0
110,7501
1,234,250
TOTAL FUNDS
1,761,947
1471,4691
1,290.478
Page 24
continued...

KH THEATRE LIMITED
Notes to the Financial Statements- Continued
for the Year Ended 31 December 2023
16.
MOVEMENT IN FUNDS- contlnued
Comparatlves lor movement In funds
Net
movement
funds
At
31.12.22
At 1.1.22
Unre5tr1rted lunds
General fund
355,855
1158,7031
197,152
Restrlcted funds
Capital Projett
199,915
4,5￿}
195,415
TOTAL FUNDS
555,770
1163,2031
392,567
Comparative net movement in funds, included in the above are a5 follows:
Incoming
resource5
Resource5
expended
Movement
in funds
Uvwt5tricted fvnds
General fund
414,088
1572,7911
1158.7031
Restrlrted funds
Capital Project
14,5cKII
14,5001
TOTAL FUNDS
414.088
1577,2911
1163,2031
A current year 12 months and prior year 12 months combined position is as follow5.'
Net
movement
in fund5
At
31.12.23
At 1.1.22
Unrestricted funds
General fund
355.855
1102.4751
253,380
Restricted lunds
Capital Projèct
199.915
1,229,750
1,429,665
TOTAL FUNDS
555.770
1.127,275
1,683,045
Page 25
con￿n￿ed...

KH THEATRE LIMITED
Notes to the Flnancial Statements- continued
for the Year Ended 310ecember 2023
16.
MOVEMENT IN FUNDS- conttnued
A current year 12 months and prSor year 12 months comb1r￿d net movement In fvnds, induded in the above are as
follows..
Incomin8
resources
Resources
expended
Movement
in fund5
Unre5tr1cted funds
General fund
931,035
11.033,510}
1102,4751
RestrScted funds
Capltal Project
I.245,￿0
115,250}
1,229.750
TOTAL FUNDS
2,176.035
11,048,760)
1,127,275
17.
RELATEO PARTY DISCLOSURES
There were no related party transactions for the year ended 310ecember 2023.
This page does not form part of the statutory financial ststements
Page 26