Docus￿n Envelope ID.. BD3061A2-BB804102-AgSC-075480018094 REGISTERED COMPANY NUMBER: 09187162 (England and Wales) REGISTEREDCHARITY NUMBER.. 1161483 Report of the Trustees and Financial Statements for the Year Ended 31 December 2024 for KH THEATRE LIMITED IIIIIIIIIN •AEDB1155* 1611012025 COMPANIES HOUSE #70 D￿uSIgn Envelope ID.. 803061A2-B8804102.A95C_075480018094 KH THEATRE LIMITED CONTENTS OF THE FINANCIAL STATEMENTS For the year ended 31 December 2024 Page Chair's report Trustees, report 4-12 Independent Examlner's report 13-14 Statement of financial activities 15 Balance sheet 16 Notes to the linancial statements 17-21 Docusign Envelope ID.. 80306IA2-B88￿4lO2-AysC-D73480ol8O94 KH THEATRE LIMITED CHAIR OF TRUSTEES, REPORT For the Year Ended 31 December 2024 After 10 years of planning, on 4th january 2024 King's Head Theatre opened the doors of its new home at 116p Upper Street with a brand new play Exhibitionists by Shaun McKenna and directed by Bronagh La8an. The new theatre features a flexible and accessible 220-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 with as much confidence as the King's Head Theatre's founder Dan Crawford did when he opened the pub theatre in 1970. Honouring the history of the pub theatre, a production has been chosen from everv year of the pub theatre's 53-ye3r life to be featuied on the theatre's main stairwell. The 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 funders for the move, together with the support of our pub theatre landlords Young's, new landlords Cain International, the hugely supportive local authority Islington 8orough Council and the local community, who all continue to champion the charity's decision to move premises. In the first year of the new theatre, we worked with Olivier nominated artists, provided stage debuts for excitr'ng up-and-comin8 artists such as Heartstoppers Cormac Hyde-CorrSn and a host of West End star5 such as Luke Bayer, Rob Madge, Kerry Ellis and even featured Dame Judi Dench in the theatre's Christmas pantomime. The theatre's 220 seat maln house, and 50 seat cabaret space "48elow" are able to welcome established artr.sts and larger scale shows appropriate for any mid-sc31e studios, whilst still providin8 accessible opportunities for emerging artists and exciting bold new work - something synonymous with the pub theatre's Identity. Through thls we were able to continue worklng with artists such as Awkward Productions, triple f ringe-first winning clownin8 duo Xhloe & Natasha and actors such as Elijah Ferreira, The staff team expanded rapidly with the opening of the new theatre, continuing to be led by Executive Producer and acting CEO Sofi Berenger. 8ut in summer 2024, the theatre said goodbye to chairman of over 10-years James Seabri8ht and long-standing trustees Richard Williamson and Molly Waiting. I WOLtld like to thank them for their incredible tenures and services to the charlty, particularly around the opening of the new theatre which would not have been possible without all of their incredible work. In reco8nition of this work, we have dedicated spaces to both James Seabright and Richard Williamson in the building. We also launched the Angels of An8el fund, a brand new membership programme and product'on fund. The fund has been set up specifically to support new productr'on5 being produced on our new stage and in 2024 was able to support Breeding by Barry Mcstay and co-produce the pantomime CAnderello. The difficult covid recovery period, venue closure and capital project have resulted in depleted reserves, this meant the theatre made the decision to be primarily a receiving house while it establishes its new space and business model. The f und has however been a vital and exciting lifeline for the organisation to get back to directly producing and supporting the creation of work. So we have immense thanks for everyone who has contributed to this fund, be it by sponsoring one of our previously fftentioned stalrs or by Joining our community of Angel members. Robert Khan. Chair ofTrustee5 Oocusign Envelope10'. 8D3061A2-B8804102-A95C-075480018094 KH THEATRE LIMITED REPORT OF THE TRUSTEES For the Year Ended 31 December 2024 OBJECTIVES AND AcfiviTIES The Trvstee5 are pleased to present their annual report together with the consolidated fi'nancial statements of the charity for the year ending 31 December 2024, which is also a director's report for the purposes of the Companies Act 2006. The financial statements comply with the Charities Act 2011, the Companies Act 2006. the Memorandum and Artr'cles of Association, and the Statement of Recommended Practice- Accounting and Reporting by Charities SORP FRS 102 leffective l January 20151. This report looks at what the charlty has achSeved and the outcomes of its work in the reportin8 period. The trustees report the success of each key activity and the benefi.ts the charity has brought to those groups of people that it is set up to help. The review also helps the trustees ensure the tharlty's activlties remaln focused on It5 Stated objectives. Objectives and Activlties Our principal objectives are.. To present ambitious theatre and opera that supports, develops and values our artists, Staff, audiences and alumnl. To be the most ethically and socially responsible Off West End Theatre in the UK known for its challengin8 work and support of young arts'sts. To commit to fi'ghting prejudice through the work we stage, the ardsts and staff we work wlth and bv producing work for minority audience groups. To prornote fair pay for all Off West End and to create accessible routes for early career artists to stage their work. Key Strategies and Activities Present a broad range of producdons coverlng theatre. opera and musicals with accessible tlcket prices at the King's Head Theatre in London. Offer opportunities for regular theatre goers to see new work and revivals of work that have not been staged in the UK before. Employ talented emerging artbsts and provide a supportive environment for them to develop their craft and advance their careers. Provide training programmes for emerging directors and producers and support for their continuing professional development. To take a leadership role in getting the industry to follow our commitment to fair wages and only staging work which agrees to pay fair wages. Docusign Envelope ID.. BD3061A2-8B80-4102-A95C-D75480018094 KH THEATRE LIMITED REPORT OF THE TRUSTEES For the Year Ended 31 December 2024 ACHIEVEMENT AND PERFORMANCE Chorltable activities- Productions Mair) House Programme hibiti by Shaun McKenna and Andrew van Sickle, directed by Bronagh Logan. Opening the theatre came this brand new play from this Olivier nominated writer & director. A modern take on 8ay relationships, this lighthearted and farcical comedy was able to showcase much of what the new theatre stands to be. A place for emerging 3rtr"Sts, such as debut performer Oyestein Lode and writing debut from Andrew Van Sickle to work alongside established arrists, accessible and universal takes on LGBTQ+ storles whlch can be enjoyed by everyone, and entertainlng new work. Turnin The Screw by Kevin Kelly and directed by Tim McArthur. Playing on some of the theatre's roots in opera this play explores Benjamin Bfitten's unorthodox relationship with a then 12.year old David Hemming5 and illlcit relationshlp with long term partner, tenor Peter Pears whllst homosexual relationships were 5ti11 illicit in the UK. London Pub Theatre Magazine gave the production * *** stating it was a "riveting piece of theatre raising questions which need to be explored" and was made possible thanks to a £25,000 donation from lan McKellan through profi'ts from his "lan at 80" tour. £[££d￿ by Barry Mcstay and directed by Tom Ratcliffe. The first production supported by the Angels of Angel fund, it was associate produced by Mark Gatiss and James Seabright, supporting emerging lead prodvcer Gabble Sills. Originally premiering as part of Tom Ratcliffe's 8uest artt'sts director season at the pub theatre, we really wanted a productt'on to transfer from the pub theatre into the new theatre as part of the openin8 season and were very excited to be able to support this wonderful piece of writing about LGBTQ+ families and the adoption process. The production received ***** from The Arts 0i5Patch who described it as a "moving and hilarious piece." The show received a number of 4-5 star5 aC105S the board. Diana.. The Untold nd bv Linus Karp for Awkward Productions. Frin8e hit-makers Awkward Productr"ons first performed at King's Head pub theatre in 2019 with their fi.rst show so it was great after the success of this production and Gwyneth Goes Skiing to welcome them into a three week main-house run. An Instant hit with audiences and reviewers alike. Houdini, by Feargus Dunlop for New Old Friends. Hit farcical tourin8 producers. New Old Friends, came to London for the first time with this productT'on, co-produced by Yvonne Arnaud Theatre. Programmed In a double bill alongside the one.person musical Divol The production pushed the theatre's production limitations and welcomed it5 largest scale show to-date. Receivin8 * ** * from LondonTheatrel who described it as a "fun and charmlng piece of theatre, performed with enthusiasm by a committed cast." a new play by James Hogan was prodLgced by King's Head Theatre associate Peter Darney and directed by former Trainee Assistant Director Alex Jackson. The play explores a middle-aged man coming to terms with his sexuality with 19-year old hitchhiker Rory. The play was the sta8e debut for Cormac Hyde-corrin IHeort5toppers) who starred alongside Neil Ashton Ilt 5 A Sinl and Sarah Moyle (Doctors). Receiving * *** from LondonTheatrel who said "The King's Head Theatre has always maintained a reputation for impressive LGBTQ+ plays and their latest show is no exception" LLGgLILr by Jonathan Tollins, directed by Kirk Jamieson and starring Olivier nominated Rob Madge. This revival of Off-Broadway hit originally performed by Michael Urie was h'nally able to have its London premlere 10-years after its US debut. The h'ctional story of an actor who is hired by Barbra Streisand to be the Isolel employee of the very un-lictional mall she has in her mansion estate - the piece heralded in a shift for programming as the theatre started to focus on bigger, longer runs. Receiving a slew of ** * * reviews from Dowsign Envelope 10.. 803061A2-BB804702-A95C.075480018D94 KH THEATRE LIMITED REPORT OF THE TRUSTEES For the Year Ended 31 December 2024 What's On Sta8e, LondonTheatrel, Everything Theatre, All That Oa2zles, West End Best Friend, Theatre & TonSc, Sta8e to Page and others. What's on Stage described it as an 'impressive performance from Madge in this fantastical, one-person show., The show transferred to Theatre Royal Plymouth. by Jonathan Maitland, directed by Oliver Dawes. This prominent political journalist has had some recent hits as a playwright, but taking a departure from politics this new play was based on his own memoirs abovt growing up with his abusive mother who started the fi'rst gay hostel. Mait13nd portrayed himself Sn the production next to Emma Davies, John Wark, Peter Clements, Stephen Ventura and Brodie Edwards/Howard Webb as young Maitland. Receiving **** from Broadway World who said It wa5 a "beautiful and moving production that received the ovarion It deserved on opening night." £￿dL£U0 by Andrew Pollard and co-produced by King's Head Theatre Productions, Little Angel Theatre and Elphin Productions. Le55 than 12-months after openin8 the theatre, and thanks to a grant from lan McKellan and the Angels of Angel Fund, the theatre was able to co-produce its first annual pantomirne in the new space. One of the first times the theatre was able to connect with new family audiences which it was never able to at the previous pub theatre the pantomime, and North London's only pantomime, featured the voices of Dame Judi Dench, Miriam Margolyes and Su Pollard and starred UK Drag Race's Ella Vaday. The unique adult-only performantes also featured perfoimances from guest Star5 Cassidy Jonsen, Amy Ross, Vinegar Stroke5, Danielle Steers, John Owen-jones, Helen Woolfe, Trevor Ashley and Christina 8ianco. It recelved a number of * **** review5 includln8 from London Pub Theatres. Curtain Call Revlew5 and North West End. The pantomime was also able to provide cheap or free tickets to 855 schoolchildren who attended, through its Fairy Godmother "pay-it-forward" programme which raised nearly £5,000 for local school children to attend the pantomime who came from disadvanta8ed back8rounds for free. In our first year, lor our maln programme. we had 19 different productions selling nearly 3S,000 tickets - more than doubling our avera8e attendance from the pub theatre. Maln House LATER and 4Below Programme Hl8hll8hts Our late night slot, slthng on top of the maln house production, is the perfect opportursity for emerging actors to work with us in the building, or in our 50-seat cabaret space. some highlights included= a transfer of Silent Faces, Godot Is o Womon which received **** from The Guardian, The Stage and The Scotsman,. triple Fringe-Flrst winning And Then The Rodeo Burnt Down, Whot if they ote the Boby? And o Letter to Lyndon B Johnson, or God,. Whoever Read5 This First from Xhloe & Natasha,. and Mod Goy King by Christopher Adams.Cohen, diiected by Scott le Crass and starrin8 The Stage Debut Award winning Elijah Ferriera. Through this programme, we were also able to work with a number of graduating student5 and emerging artists through showcases from The School. Rose Bruford's MA Queer Performance, Mountview & CSSD'S MA Producing course and UCL. 4Below was also home to ongoing emerging comedy & cabaret nights Wendy 5 House and Comedy Fitfor o King and hosted Edinburgh Fringe Previews and the Camden Fringe. Our 48elow space was also able to work locally with Islington BID,1slingion Giving and other local organisations on local events, and provide space for readings of work-in-development. Oocu819n Envelope ID,. 8D3061A2-BB80-4102-A95C-D75480018D94 KH THEATRE LIMITED REPORT OF THE TRUSTEES Forthe Year Ended 310ecember 2024 Our Main House Later and 48elow programmes h05ted 321 performances of a variety of lengths and productions. The pro8ramme hosted 15,¢)00 audience members, predominantly youn8er than our main house programme and interested in innovative and intersectional forms of theatre. The theatre was also able to give away 6,250 free tickets to the community through partnerships with charities such a5 Switchboard. Forum+, Kinship, Black Children's Initiative and Tickets For Good. Equity and Fair Employment The King's Head Theatre remain5 committed to fair employment and has a fantastic relationship with Equity, the UK'S largest trade union for the performing arts. Gender and Equality Policy In 2018 the King's Head Theatre implemented a Gender and Equality Policy, furtherin8 our aim to lead the way in making equitable theatre. With immediate effect. the theatre committed to working annually with SO% non-male idents'fyin8 artists and creatives, and to offer at least SO hour5 a year to mentoring and helping emer8in8 companies and championing ethical employment. In the first year of the new theatre. we were able to work with a number of female and non-binary led productions including Godot Is A Woman, Green Opera, Xhloe & Natasha, Hannah Kumari's Eng-er-lond, Queer Cowboy5, The Little Death, Queen Bette, A Trojon Woman and Lody Montogue. We were able to provide professional support to a number of schools, working with students on their showcases and professional debuts and h05t placements and Internshlps for 16 students to gain valuable work opportunities . many of whom went onto paid employment as a result of their work at Kln8's Head Theatre or joined the theatre in a paid position. We also continue to run our bi.weekly Skillshares - with sessions hosted by industry leaders across a variety of subject5 includillg business & producin8 skills and 3rtistic skills. Over 150 people attended a skillshare in 2024 completely for free gaining these practical skills designed for early-career development. Audlences Audience statistics for 2024 indicate that 33% were under the age of 3S, a slight 1% decrease in our audiences slnce 2019. Whilst patrons over the a8e of 65 made up 14% of audiences for the year in 2024 also indicating a decrease from 18% since 2019. In 2024, 6.5% of audience members were based in our immediate vicirbity Nl, versus 6% in 2022-23 Whilst unique postcode zone figures remain fairly consistent, data indicates that our audience reach has extended beyond Nl which presents further opportunits'es for the venue's outreach. Some audience responses include.. "I loved the old venue because it was the dingy back roorn of a pub,. I love the new venue because it does justr'ce to the excellence of the team. What they do has always been great and at the forefront of how today'5 theatre should be, but they seem to be getting berter and better (Royal Court better dress warmly). A mvst visit if you're serious about theatre land more so if you're not). Thanks for doing what you dol" "I had a wonderful experience at The King's Head Theatre, seeing their LGBT shows. The new location, situated just behind the original pub, is clean and well-maintained with friendly staff and a great atmosphere" Do¢usign Envelope ID.. B03061A2.88804102-A95CiJ75480018D94 KH THEATRE LIMITEO REPORT OF THE TRUSTEES For the year ended 31 Oecember 2024 "We loved the intimacy of the theatre, the exuberance and skill of all the performers. Everyone looked to be havin8 such a good time ... and the audience did, too" Fundraising The average donation amount in 2024 increased to £19.43 f rom £16.90 in 2022-23. However, as an overall percentage of ticket value sold, the tot31 amount donated online or in person represents only 4.74% of the overall ticket yield vs 6.03% in the previous two years. Conversions from the website remain consistent however. Overall, the charity raised £15,564 from our bucket donations, a tradition the theatre has held for Sts en￿re 54 year history. Since launching in late 2023, the Angels of Angel fund has also raised a further £S9,826 to directly support productions coming to the theatre's sta8e. With a year end balance of £33,044 with most of the deh'cit expected to be returned in 2025. stsff Team In 2024 the artlstic programme was overseen by Executive Producer IActing CEO) Sofi 8erenger. Eight new full time staff members were hired in 2024 FINANCIAL REVIEW Financial posltion Income The total unrestricted income earned for the period was £763,051. The total restricted income earned for the period in ielation to the Angels of Ange15 fund was £44,650 Voluntary Income We received £76,654 in donafjons. Theatre and Produttlon Income We received £488,460 from ticket sales and venue rental. Cost of Charitable Actlvltles The total operational expenditure for the period was £710,548 Investment policy and objectives The trustees, having regard to the Ilquidity requirements of operatlng the theatre, have kept available funds in an interest.bearing deposit account. Reserves policy At 31st December 2024 the charity had unrestricted reserves of £340,32712023 £253,380) and restricted reserves of £1,385,28412023 £1,429,665) giving a total reserves balance of El,725,61112023 £1,683,045). The company's reserves policy indicates that there should be three months Worth of operational expenditure of unrestricted reserves on the balance Sheet and this criteria is met at 31 December 2024. There are no concerns regarding the charity's ability to continue to operate, Docusign Envelope ID.. 803061A2-BB8D.4102-A95C-075480018094 KH THEATRE LIMITED REPORT OF THE TRUSTEES For the Year Ended 310ecember 2024 FUTURÉ PLANS Looking to the second year of the new theatre, a renewed focus on producing and co-producing through the Angels of Angel fund will enable the charity to directly support productions coming to its stage. It is expected that the charity will support and co-produce four main house production5 and lead produce the Christmas pantomime. There will be continued work in improving the facilities and infrastructure of the theatre, through purchasing brand new seats and the creation of a community garden in the courtyard. The theatre will build its membership programmes, including free memberships for N I residents and workers, under 35's and artists who will be able to access a variety of accessible ticket options and opportunities. We will focus on our artist development programmes through the a￿'st club, establishing new writing programmes and identifyin8 new opportunities. A focus on building and broadening our audiences - both recoverin8 from the pandemic and with the new building to ensure that the theatre 15 able to reach as many people as possible will also be a clear focus for the charity in 2025. STRUCTURE. GOVERNANCE AND MANAGEMENT Governing Document KH Theatre Limited is a company limited by 8uar3ntee governed by its Memorandum and Articles of Association dated 24th September 2014. The current member5 of the company are the TrLtstees. The liability of the members 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 10 members as at 31.12. 2024. The trustees did not recelve any benefit in the year. Anti-Racism Commitment The King's Head Theatre has always fostered diversity and inclusion. and now, more than ever, we stand with the Black Lives Matter movement. The King's Head Theatre must be a home for everyone to feel welcome to tell their stories and for us collectively, to change our world for the better. To all our artists, audiences, staff and comrnunity across the woild, know that we will not tolerate racism in any form. We will reflect that in everything we do. And while our doors may currently be shut, we commit anew to reflecting and protecting our exceptional and diverse society. Today and always, we stand with our Black colleagues and with our community as we fight for a more equal world. Appointrnent ol Trustee5 Any Trustee is entitled to nominate people for board membership and names go forward to be approved bv the Board of Trustees. The Trustees represent 3 core of specialist skills, includin8 but not limited to arts administration, programming and producing, international law, technical theatre productron and HR. An essential requirement is a passion for theatre generally and the work of KH Theatre Limited parricularly, and a desire to increase access to theatre and audience diver51tv. Trustee indurtion and training Potentr'al new board members are given the opportunity to meet the Chair and a senior staff member before being invited to meet the full Board of Trustees and observe a board meeting. Do¢usign Envek)pe ID: BD3061A2-88804102-A95C-D7548CMJ18D94 KH THEATRE LIMITED REPORT OF THE TRUSTEES For the Year Ended 31 December 2024 Organisatlonal structure The Board of Trustees oversees and is responsible for the administration of the company. The board meets at least four times during the year. Senior staff are appointed by the Trustees with delegated authority to manage day to day operarions of the charity. Rlsk Management The Trustees continue to review the major risks to which the Charity is exposed, and are establishing systems to mitigate any risks not already covered by the Charity's exists'ng systems and risk management strategies and controls. Particular current key risks Include.. Vulnerability to drops in 8enerated 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 cotsntry that may have a negats've impact on KH Theatre Limited and the arts organisations, artists, audlences and participants that it works with. Future departures of key members of staff.. Competitor organisatr'ons entering our market space. Theatre companies and venues are under threat in terms of reduced income from Arts Council England, local authorifjes, other funders and audiences, potentially resultin8 in less income or increased contra c05t5 for the companv. The Trustees regularly monitor these risks, their consequences and appropriate ways to respond. The Trustees note that a key element in the mana8ement of financial risk is the setting of a reserves policy and its regular review by the Trustees, Key management personnel rernuneration The Trustees consider the Board of Trustees as comprising the key management personnel of the charity in charge of directing and tontrollin8 the charSty and running and operattng the charlty on a day to day basis. All trustees give of their time freely and no trustee remuneration was paid in the year. 10 Oocusign Envelope ID.. 8D3061A2-888D-4102-A95C-D75480018094 KH THEATRE LIMITED REPORT OF THE TRUSTEES For the Year Ended 310ecember 2024 REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 09187162 IEngland and Wales) Registered Charity number 1161483 Registered offlce 116p Upper Street London Nl IQP Trustees JAR Seabright Iresi8ned 31 August 20241 M Waiting Iresi8ned 31 December 20241 RJ William50n (resigned 3 September 20241 K Farrell Ire5igned 14 May 20241 A Porter M Hedges H Williamson K Mullan R Khan VR 8eelaerts van Blokland (appointed 12 February 20241 C Cook lappointed 12 February 20241 D James (appointed 14 May 20241 J Quaife lappointed 3 September 20241 J Smith (appointed 10 December 20241 Independent Examiners Corrigan Accountants Limited First Floor 25 Kin8 Street Bristol BSI 4P8 STATEMENT OF TRUSTEES, RESPONSIBILITIES The trustees (who are also the directors of KH Theatre Limited for the purposes of company lawl are responsible for preparing the Annual Report and the fi'nancial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, 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 consistently: Observe the methods and principles in the Charity SORP. Oocu5ign Envelope ID- B03061A2-88804102-A95C-075480018D94 KH THEATRE LIMITED REPORT OF THE TRUSTEES For the Year Ended 31 December 2024 Make judgements and estimates that are reasonable and prudent- State whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements,. Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charitable company will continue in business. The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safe8uardin8 the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. In so far as the trustees are aware.. There is no relevant information of which the company's independent examiners are unaware.. and The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant information and to establish that the independent examiners are aware of that information. SMALL COMPANY EXEMPTION STATEMENT For the year endin8 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and for the prepar3tr.on of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. Report of the trustees, incorporating a Strategic report, approved by order of the board of trustee5, as 14-Ocl-25 the company directors, on................................... and slgned on the board's behalf bv: Helen Williamson Trustee Docusign Envelope ID.. B03061A2-88804102-A95C-D75480018D94 KH THEATRE LIMITED INDEPENOENT EXAMINER'S REPORT For the Year Ended 31 December 2024 Independent Examiner's Report to the Trustees of KH Theatre Limlted I report to the charity trustees on my examination of the accounts of the company for the year ended 31 December 2024 which ore Set out on page5 15 to 22. Responsibilities ond bosis of report As the charity trustees of the company land also its director5 for the purposes of company lawl you are responsible for the preparation of the occounts in accordonce with the requirement5 Qf the Companies Act 20061.the 2006 Act'l. Having satish'ed myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examinab"on, I report in respect of my examination of your company's accounts as carried out under sectt'on 145 of the Charities Act 20111'the 2011 Act'l. In carryin8 Out my examinatr'on I have followed the OiTection$ 8iven by the Cha rity Commission under sectr'on 14515llbl of the 2011 Act. Independent examiner's 5tt7tement Since the company'5 gross income exceeded £250.000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I conlirm that l am qualified to undertake the examination because l am a member of the ICAEW, which is one of the1Ssted bodies. I have completed my examination. I conh'rm that no matters have come to my attention in connection with the examinatton giving me cause to believe that in any material respect.. l. accounting records were not kept in respect of the company as required by section 386 01 the 2006 Act,. or 2. the accounts do not accord with those records,. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view, which is not a matter considered as part of an independent examination,. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts In accordance with the Financial Reportin8 Standard applicable in the UK and Republic of Ireland IFRS 1021. 33 Q)ocusign Envelope ID.. BD3061A2.8B8D-4102.A95C.D75480018D94 KH THEATRE LIMITED INDEPENDENT EXAMINER'S REPORT For the Year Ended 31 Oecember 2024 I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Signed.. QJW David Wright 8Sc FCA Corrigan Accountants Limited First Floor 2S King Street 8ristol BSI 4P8 Date.. 14-Oct-25 14 Docusign Envelope IO.. BD3061A2-888D4102-A95C-D75480018D94 KH THEATRE LIMITED STATEMENT OF FINANCIAL ACTlVlI'lÈS (including Income and Expenditure Accotsntl For the year ended 31 December 2024 2024 2023 Unrestricted funds Notes Aestricted funds Total funds Total funds Income and endowments Donatfons and legacies 57,004 19,650 76,654 J52,172 Charitable activities Encoura8*ment of the arts 583,844 25,000 608,844 1,605,894 oihtr trading acrivitles Investment in¢ome 119,239 2,965 119.239 2.965 Total 763,051 44.650 807,701 1,761.947 Expenditufe Raisin8 funds S4,587 54,587 1,691 Charitable aet1v5￿aS Encouragement of the arts 621,517 89.031 710,548 469.778 Total 676,104 89.031 765,13S 471.469 Net incomellexpenditurel Translers between funds 86,947 115,1781 144,3811 15.178 42,566 1,290,478 17 Net movement in funds 71,769 129,2031 42,566 1,290,478 Reconciliatr'on ol funds Total funds brov8ht forward li 253,380 1,429,665 1,683,045 392,567 Total funds carried forwaid 340,327 1,385,284 1,725,611 1,683,045 15 Oo¢usign Envelope ID.. BD3061A2.88804102_AgSC_D75480018094 KH THEATRE LIM￿E0 BALANCE SHEET At 310ecembei 2024 2024 2023 Unrestricted funds Notes Restricted funds Total funds Total funds Fixed assets Intan8ible assets Tangible 355ets 13 9,S32 336,987 346.519 9,532 1.519.737 1.529,269 2.355 14 1,182,750 1.182.750 1,534,711 1,537.066 Current assets Siock 8,338 8,338 242,854 326,863 578,OS5 Dèbtors 15 242.854 316,863 211,S03 Cash at bank 238,956 450.459 578.055 Total assets 924.S74 1,182,7SO 2.107.324 1,987,525 Credltor$ Amounts fallin8 ijue within8 one year 16 381,713 381,713 304.480 381,713 381,713 304,480 Net a55et5 542.861 1.182.750 1,?25,611 1.683,04S Fund5 Unrestrltted fund 340,327 1.385.284 253,380 1,429,665 Restricted funds Total funds 1,725,611 1.683,045 The irusiees aknowledge their responsibiities for.. al ensuring that the chaiitable company keeps accounknng records that comply with Sections 386 and 387 el the Cornpanies Act 2006., and bl preparin8 the linancial staternenls which 8ive a true and fair view ol the state of the charitable cornp4ny Js at ihe end uf *ach linancial yeai and of It5 surplu5 or ijefi"£lt for eich hnancial year in accordance withe ihe requlrements of Sections 394 and 395 and whith orherwise comply with the reouSrements ol the Ctsmpanies Act 2006 relating to the hnancl•l statements, in so far as applicable to the charltable company. Small Company Exomptsons For the year ending 31 December 2024 the company was entr.tled to exemption fiom audit under section 477 of the Companies Art 2006 relating to Small cornpènies. The mernbers have not requlred the compan¥ to obtain an audit In accordance ujith SeC￿On 476 of the Companies Att 2006. The dlrectors acknowledge thelr responsibllity for comply5n8 wlth the requlrements ol the Act wlth respect to atcounfjn8 retords and for rhe preparation of accounts. These ac£ounts have been prepared in accordance with the provisions applicable to cornp3nie5 subject 10 the small compaoie5 re8ime. The financial statements were approved by the Board ol Tru51ee5 and authorised for issue on behalf bv.. 14-Ocl-25 and were siened on its Helen Williamson Trustee 16 Docusign Envelope 10.. 803061A2-BB8D4102-A95C-D75480018094 KH THEATRE LIMITED NOTES TO THÉ FINANCIAL STATEMENT5 For the year ended 31 December 2024 I ACCOUNTING POLICIES Basis of preparing the financial statements The financial st3temenrs ¢f the charitable company, which Is a Pltbltc benelit entity under FRS 102, have been prepared in accwdance with the Charities SORP IFRS 1021 'Accounting and ReporriTrg by Charities. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Repo¥tyng Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I january 20191.. Flnancial Repordn8 Standard 102 'The Financial Reporrin8 Standard appllc4ble in ihe UK and Republic of Ireland, and ihe Compènles Act Z006. The hThanclal st3tement5 have been prepared under the historScal ¢05t convenfjon, Incomq All incorne is reco8nlsèd in the Statement of FinancI21 Act?vitSes once the charity has entitlement to the funds. it is probablè that the In¢orne will be ￿ceiVed and the amount cars be measuod reliablv. £xpeAdlluie Liabilitie5 are re¢o8nised as expendltuie as soon as there is • legal or construcdve obligation commithn8 the charity to that expenditure, it is probable that a transfer of économlc benefits w511 be required In settlement and the amount of the oblIga￿On can be rnea5ured rellably. Expenditure is accounted for on an accrua15 basis and has been classilied under headings that agKreEate all cost related to the category. Where costs cannot be directly attributed to parbcular headln8S they havè been allocattd to èc•vides on i basis conslstent with the use of resources. GolnB ronn ol lund5 Tolal funds brou8ht forward 197.152 19S,415 392.567 Total funds carried forward 253,380 1,429,665 1,683,045 19 Dt)cusign Envelope ID.. BD3061A2-BB804102-A95C-D75480018D94 KH THEATRE LIMITED NOTES TO THE FINANCIAI STATEMENTS For the ye3r ended 31 Oecember 2024 13 INTANGIBLE FIXED ASSETS Oevelopment costs Cost At l January 2024 Additions 4,225 8,CX)O Disposals At 31 December 2014 12.22S Amorisation Al l January 2024 Charge for the year At 31 December 2024 1,870 823 2,693 Net book value At 31 Decernber 2024 9,532 2,35S At 310ecember 2023 14 TANGIBLE FIXEO ASSETS Freehol propertv Plant and machinery Fixture5 and httin85 Computer equipment lotal Cost Al l january 2024 Addition5 1,S51,ÉS3 14.881 19,583 5,43S 1.591,752 71,905 71,905 Disposals At 31 December 2024 1,623.7S8 14,881 19,583 5,435 1.663,657 Depreciation At l January 2024 Cha￿e foryear Eliminated on disposal At 31 December 2024 41.670 80.747 9.614 1,831 4,438 3.926 377 57,041 86.879 1.317 122,417 10.931 6.269 4,303 143,920 Net book value At 31 December 2024 1,501,341 1.510,183 3,950 5,267 13,314 17,752 1,132 1.509 1,519,73? 1.534,711 At 31 December 2023 IS DEBTORS.. AMOUNTS FALLING DUE WITHIN ONE YEAR Trade debtors Amounis owed bygroup undertaklngs Other debtors 2024 2023 47.714 ii.ios 45,859 35,060 117,694 785 17S.632 VAT Prepayments 19,508 242,854 211,503 Oo¢usign Envelope IO.. BD3061A2-888D4102-A95C-D75480018D94 KH THEATRE LIMITED NOTES TO THE FINANCIAL STATEMENTS Forthe year ended 3L December 2024 16 CREDITORS.. AMOUNTS FALLING DUE WITHIN ONÉ YEAR 2024 2023 Trade creditors 40,614 48.370 7.969 12.925 218,286 S3.548 381,713 137.207 12.264 S.025 Amounts ovjed to group undertakings Soclèl security and other taxes VAT Other creditors 144.634 5,350 304,480 Aecruals and delerred Income 17 MOVEMENT IN FUNDS Net movement In funds Transfer5 between funds At OII0112024 At 3111212024 UThrestritted funds General funds 253,380 253,380 86,947 86,947 115,1781 115,1781 3ZS.149 325,149 Restricted fvnds Capital works fund An8els of An8els fund 1.429,66S 162,2501 17,869 144,3811 1,367.41S 33.047 1,41XI,462 15,178 15,178 1.429,665 1.683,045 42,566 1,725.611 Net movement In funds, InclLtded In the above arè as follows Incoming resources Resources expended Movernent In lund5 Unrestrlcted lunds General funds 763,051 763.051 676.104 676.104 86,947 86,947 Restricted furbds Capitsl woiks Ivn An8els ol Afi8els fund 61.250 25,781 89.031 162.2501 17.869 144,3811 44,650 44.650 807.701 765.135 42,566 18 RELATED PARTr DISCLOSURES There were no related party iransactlons for the year endtd 31 Oecember 2014. 21