OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-06-30-accounts

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

Charity no. 1177812

The Wardrobe Theatre Report and Unaudited Financial Statements

30 June 2025

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Reference and administrative details

For the year ended 30 June 2025

Charity number 1177812 Registered office and 25 West Street operational address St. Philips Bristol BS2 0DF

Trustees

The trustees who served during the year and up to the date of this report were as follows:

Naomi Miller Chair Daniel Watson Treasurer Kerry Francis Joe Hill Lynette Wilson Caitlin Anniss Susanna Amato Andrea Keogh Lydia Scott Aisha Stewart (appointed 1st October 2024) Natasha Bergg (appointed 1st October 2024) Ryan Wilce (appointed 1st January 2025) Independent examiners Hewitt Accountancy Ltd Chartered Accountants 40 Harcourt Road Redland Bristol BS6 7RE

1

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

The trustees present their report and financial statements for the year ended 30 June 2025.

Reference and administrative information set out on page 1 forms part of this report. The financial statements comply with current statutory requirements, the Constitution and the Statement of Recommended Practice - Accounting and Reporting by Charities (effective from January 2019).

Governing Document

The Wardrobe Theatre is a charitable incorporated organisation (charity number 1177812), registered with the Charity Commission on 4 April 2018. The charity's governing document is its constitution, updated on 9 October 2024.

Purpose & Activities

The Wardrobe Theatre is driven by a bold mission to advance the arts and inspire a deeper public appreciation and understanding of all art forms. Through the operation, facilitation, and management of The Wardrobe Theatre, we are dedicated to enriching the community by offering diverse and dynamic artistic experiences. While our impact extends far beyond, we are especially proud to serve the City of Bristol and its surrounding areas, bringing culture, creativity and education to the public for the benefit of all.

The 4 core aims of The Wardrobe Theatre are:

The charity’s vision, strategy and objectives will be reassessed in 2025-2026 and a new business plan published after work carried out this year.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives for the year.

Achievements & Performance

2024-2025 was a strong year for The Wardrobe Theatre with a high-quality artistic programme and high audience figures as we continued our prominent position in the city as Bristol’s leading fringe theatre.

Behind the scenes, The Wardrobe Theatre transitioned into the beginning of a new chapter this year: a period of consolidation as we secure our foundation, strengthen our internal systems and reaffirm our values, moving from, as we see it, an organic, spirited adolescence into a grounded, purposeful adulthood.

2

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

In-line with our core aims, in 2024-2025 we built on our work with grassroots artists by working with 146 visiting companies and giving performing opportunities to new, young, emerging artists such as Mia Macleod & Daisy Kennedy (and their show Scraps ) and children’s author/environmental campaigner, Lindsey Cole, making her first ever theatre show ( The Mermaid, The Otter & The Big Poo ), hosting 55 scratch/amateur performance cabaret nights and poetry/storytelling slams and producing our relaunched local theatre work-in-progress showcase night, ITCH .

We worked to keep the theatre financially accessible with the average/mean ticket price for all shows this year £12.40, below the national average (£39.50 or less - source: SOLT & UK Theatre) and saw an increase of 60% in new audiences. We welcomed 7,648 family audience members and hosted over 120 hours of theatre for families. We supported local artists, ensuring the majority of theatre companies we presented on our stage were Bristol-based (71%) and by recruiting a 95% Bristol-based cast and creative team for our in-house Christmas show. We strove to create inclusive opportunities and address imbalances - we supported local new mother Helena Middleton in her career as director, and helped local young, emerging artists forge a career in the arts such as associate designer Ruby Brown - an example of our Artist Hub aim in action.

Behind the scenes we also developed significantly this year by:

These were all large and strategically important projects, achieved after many months of hard work from the entire team and reflect the increasing professionalisation and maturity of The Wardrobe Theatre as an arts organisation.

Thanks to funding from Bristol City Council, this year The Wardrobe Theatre was able to trial film nights at the venue for the first time, leading to the creation of a regular movie night and also the charity participating in National Theatre Live events.

This year The Wardrobe Theatre was a Finalist in the category of Best Arts & Creative Organisation at the Bristol Life Awards 2025 and Nominated as the Best Theatre/Arts Venue in Dorset, Somerset & Bristol at the Muddy Stilettos Awards 2025.

3

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

Artistic Programme

This financial year a total of 33,392 audience members came to see a live show at The Wardrobe Theatre (a 0.4% increase on 2023-24, showing remarkable consistency).

The Wardrobe Theatre’s artistic programming is renowned and our stage hosts everyone from international talent, household names, local voices and people taking their first steps in theatre. The programme is more than just theatre, it is a proud assembly of clowning, drag, live music, family shows, poetry, comedy, community nights, film, improv and much more. Across the year, within the venue we presented a total of 459 live performances and hosted 146 visiting companies, a mix of Bristol-based, UK and international artists.

Particular highlights this year included:

The festivals we were proud to be a part of this year included Bristol Pride, Papaya Fest, Translated By: Bristol and Lyra Festival. Partnership work is important because we believe collaboration, connectedness and shared resources are vital for the future of the UK arts and culture sector.

4

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

Work shown at the venue chiefly included theatre (devised work, storytelling, improvisation and new writing), secondary to that stand-up comedy, then poetry/spoken word. Family audiences remained a core pillar of The Wardrobe Theatre’s work and we presented family shows during school holidays and on weekends. This year we presented a total of 120 family performances to a total audience of 7,648 (up 4% on 2023-2024).

The mean average ticket price at The Wardrobe Theatre this year was £12.40 (up 2.5% on 2023-2024). Financial accessibility remains a core ethos of the way we work and affordable ticket prices have helped us achieve good audience attendance throughout the year (77% attendance on average) and helped us have great success in continuing to attract a young-adult audience.

In-House Productions and Co-Productions

During this year, 1 new Wardrobe Theatre production was R&Ded, created, staged and toured:

1 new Wardrobe Theatre production was R&Ded (due to be devised, rehearsed and staged in 20252026):

And 1 existing Wardrobe Theatre production was revived and staged in the theatre:

5

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

A Hub For Artists

Artist development and supporting Bristol-based, emerging theatre-makers continued to be a priority for The Wardrobe Theatre this year.

Having been revived in 2023-2024 after a hiatus of several years, in March 2025 we staged our work-inprogress showcase night, ITCH , for local artists to try out and show something brand new. The show was a success and provided support for a diverse mix of artists including Crumplehorn Theatre, Guenevere Lambert & Phoebe Mulcahy, Judie Boom, and Amber Charlie Conry & Rosalie Roger-Lacan, several of whom we offered free rehearsal space and dramaturgical support to in the lead up to the event. Following their performance at ITCH , we felt inspired to give targeted mentoring, dramaturgical, marketing and financial support to local emerging theatre-company Crumplehorn Theatre, (including providing a puppetry workshop from local theatre-company, Soap Soup Theatre) helping them develop their show, The Necromancer , into a full production to be presented at the theatre in 2025-2026. Also in October as part of Papaya Fest 2024 we hosted Juicy Bits , the festival’s own work-in-progress theatre showcase from Latinx artists and theatre-companies.

We worked with artists, theatre companies and organisations to offer artist development workshops and talks throughout this year:

We also hosted several post-show Q&As, giving an opportunity for audiences to engage directly with artists after a show.

We also presented several workshops ourselves including: free comedy/theatre devising workshops at Front Room Theatre (Weston-super-Mare) as part of our development of in-house production, Notting Hell: The Greatest Love Story In The Underworld ; and a talk on the history of The Wardrobe Theatre with students from Bristol School of Acting.

Helping to build a stronger theatre sector, we remained in regular communication with other theatres, festivals, venues and arts organisations in the region, maintaining our strong relationship with Tobacco Factory Theatres, Bristol Old Vic, The Bristol Improv Theatre and continuing our mentoring of WestonSuper-Mare’s new fringe theatre, Front Room. The Wardrobe Theatre also continued to be a member of the city-wide arts organisation forum, DIY Network.

The Wardrobe Theatre and our staff continued to be on-hand to offer extensive in-kind support, advice, guidance and mentoring to many artists, companies and theatre-makers, and during the year we also offered free or affordable rehearsal space to theatre companies in Bristol including: Kiota, Closer Each Day Company, Riddlestick Theatre, The Wardrobe Ensemble, Clare Murphy, Roustabout Theatre, Mia Macleod & Daisy Kennedy, The Shade Pullers & Lash Stackers Social Club, Shôn Dale-Jones, Lucy Hopkins, The Lost Cabaret, Crumplehorn Theatre, Adam Mort, Impromptu Shakespeare, Bristol Institute of Performing Arts and Fionn Gill. Support for these artists led to several productions being developed into full shows which have subsequently been programmed here to be performed in-front of a live audience in 2025-2026.

6

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

Participation and audience development

Participation

Our participation programme remains an evolving element of The Wardrobe Theatre’s work. This year, with grant support from Bristol City Council secured in 2023-2024, we built stronger partnerships with local primary schools including Hannah More Primary and hosted 3 free private performances for school groups (aged 5-8) with tours of the theatre and talks from our Artistic Director. 95% of the children in attendance said it was their first time watching a live theatre show. With decreasing levels of drama and performing arts education in schools, it is imperative that charities such as ours continue to provide opportunities for arts education and engagement. We will continue and widen our offer of free performances for local primary schools in 2025-26, something we are able to do with funding already secured from The Arts Society.

Audience Development

New parents with young babies was an audience we continued to develop and improve this year, an area we identified we were lacking in and at a time when some of our staff were themselves starting young families. This year we hosted more relaxed, babe-in-arms performances in the theatre than ever before including the popular monthly stand-up comedy show Aftermirth and baby-friendly performances of our summer run of The Good, The Bad & The Coyote Ugly and Christmas show Notting Hell: The Greatest Love Story In The Underworld . We also welcomed a new family show to the theatre, Rock The Tots , which we will continue to host once a month on a Thursday morning. Audience response to these babe-in-arms performances was extremely positive, with many remarking they are a much-needed community service.

Diversity & Inclusion

Broadening the diversity of the people we work with, our audience, our participants, our visitors and the stories that are told on our stage continues to be a key goal of The Wardrobe Theatre. We continued to develop and implement the learnings and outcomes of our inclusivity action plan and widen our knowledge and understanding about the types of barriers communities can face in accessing culture. It is our ambition to have a deeper understanding of who our audience is and how we can proactively reach and respond to the needs of those audiences underserved in our city and representative of our local community.

We worked hard to ensure there was diversity in the cast and creative team of our 2024-25 in-house Christmas show, Notting Hell: The Greatest Love Story In The Underworld , and were thrilled to work with artists including movement director, Deepraj Singh, and performer, Adiza Shardow.

Located as we are in Old Market, the heart of Bristol’s LGBTQ+ quarter, this year we continued our work to engage, welcome, collaborate with and actively support the LGBTQ+ community. We worked with local LGBTQ+ organisations and businesses, were a key venue partner during Bristol Pride and worked to increase the numbers of LGBTQ+ stories being told on our stage, with LGBTQ+ productions hosted this year including:

7

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

We further worked to increase the diversity of the productions and performers on our stage this year with stories from the global majority such as:

We continue to work to develop and diversify our programming to ensure a wide diversity of stories and artists are featured on our stage.

Development and marketing

Funding grants

This financial year, 2 grants were successfully awarded to The Wardrobe Theatre, forming 7.5% of our total income. This is a 4.5% decrease on the 11% from 2023-2024:

This financial year we also applied to but were unsuccessful in securing grants from Idlewild Trust, The Grocer’s Charity, The D’Oyly Carte Charitable Trust, Enterprise Nation & Vista Print, Consortium: LGBT+ Futures, YTKO, WECA, Wingate Foundation, Paul Hamlyn Foundation, Jerwood Foundation, Oak Trust, and Race Furniture & Theatres Trust. Success in grant funding continues to be ever more competitive and ever harder due to shrinking arts budgets at both a local and national level. This year we applied to a wider range of grants from trusts and foundations and other smaller bodies than ever before, something we will continue to pursue in the future to protect ourselves from an over-reliance on a narrow range of grant givers including Arts Council England.

Fundraising

This financial year, public donations to The Wardrobe Theatre totaled £27,476, 5.5% of the theatre’s total income and an 844% increase on 2023-24. This increase in individual donations is down to the charity's adoption of Spektrix, an expert Customer Relationship Management system, since April 2023, generating £8,164 of revenue, a 64% increase on the equivalent donations in the previous financial year This is the first full financial year we’ve been able to request bookers add a donation to the value of their ticket on our website during their checkout journey and this boost in revenue alone proves Spektrix’s worth. The longer we use Spektrix and the greater audience data we gather, we will be able to make more strategically targeted fundraising requests.

The Wardrobe Theatre also received two major donations of £5,000 and £9,300. One was an anonymous donor who contacted the theatre through CAF bank and the other from a major donor who contacted us by email. In the previous year financial year the Wardrobe Theatre received no major donations. We are working towards building relationships with major donors to encourage similar donations in the future.

The £27,476 also includes an accrued gift aid total of £4,913 and £100 in donations from our previous donation scheme. Our adoption of Spektrix means we can keep better track on which donations are allowable in a gift aid claim.

8

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

Separately, at the end of this financial year, we had 31 members in The Wardrobe Theatre Fan Club (our membership scheme) each donating £40/year, and generating a total of £1,200 for the year. This year the cost of membership increased by £10/year in July 2024, a move we felt necessary due to inflation and the rising costs of managing the scheme. This year we also integrated the Fan Club into our Spektrix system so all our customer information was in one place. It required us to contact members to ask them to cancel their membership on our previous system and then to re-sign up – in this process we lost 64% of our members but are working to build numbers back up.

Through our scheme with our building partners, The Old Market Assembly, whereby The Wardrobe Theatre gets £1 from every purchase of one of the pizzas on their menu and 50p per pint from one of the beer pumps on their bar, this year raised £1890 for the theatre.

This year for the first time £97,000 of The Wardrobe Theatre’s reserves were placed in a instant access savings account to provide another income stream for the charity, generating £756.

Marketing

The Wardrobe Theatre maintained strong marketing practices this financial year, with a refreshing of all marketing strategies thanks to the hiring of a new Marketing Manager (part-time) from October 2024.

Marketing was supported by a solid foundation of social media followers:

Despite our 8,800+ followers, we took the decision to stop posting on X (formerly Twitter) from January 2025.

We continued to print a What’s On brochure every season (3 per year).

The adoption of our own Spektrix account at the end of 2023-24 dramatically improved our ability to communicate directly with our audience and send more targeted mailouts. As we build our audience data, our ability to market shows will get better in years to come.

We renewed our Silver Membership of Destination Bristol/Visit Bristol, the city’s tourism and destination management organisation.

Staffing, Structure, Governance & Management

Staffing

This year 2 of our senior staff both started young families and our Box Office Manager requested to reduce their hours as they began a Phd and so there was a period of staff development, restructuring and recruitment to provide robust paternity cover and to ensure the working capacity of the theatre was not negatively impacted by these changes. Supported by the board, we designed a new staffing organogram to improve lines of oversight, reporting and line-management and clearer delineation of areas of responsibility throughout the staff. As a result, 3 new members of staff were recruited:

9

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

These new staff members joined The Wardrobe Theatre’s existing team consisting of:

Due to a strong financial outlook for the charity and the ongoing rising cost-of-living, all staff received a 5% pay increase in October 2024, approved by the board of trustees.

In the summer 2024 we also held annual staff check-ins with every staff member having a one-to-one with their line-manager and/or a member of the Board. The sessions were deemed valuable by trustees and staff alike. This practice will be continued and strengthened in 2025.

In the spring 2025 a full Staff Away Day was held at The Bristol Improv Theatre, facilitated by the Chair of the board. During this excellent session, staff bonded and reflected on the history of the theatre and its operations, interrogated our current position and models of working, and shared ideas, thoughts and perspectives on the future ambitions of The Wardrobe Theatre. The outcomes of the staff Away Day will be used in the creation of a new 3-year Business Plan for the charity, due to be published in 20252026.

This year we consulted with our front of House team and agreed a change to their working arrangements to be casual workers rather than to contract as freelancers, to more accurately reflect the working arrangements.

The Wardrobe Theatre continues to run supported by our excellent team of volunteers who check audience tickets for performances each night, overseen by our Theatre Manager. This year we also reviewed and updated our Volunteer Agreement to bring it in line with our responsibilities to our volunteers.

10

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

Governance

The Wardrobe Theatre’s board of trustees met quarterly this year, offering invaluable insight and support in furthering the charity’s ambitions and embedding an improved professionalisation and organisational development. This year the updating and professionalisation of some of the board’s systems was prioritised including updating the charity’s constitution, formalising the way agendas and minutes are presented, and the creation of a new Action Log. The operations of the board were supported and delegated through 5 sub-committees, made up of staff and trustees:

We have a strong and hands-on board who engage regularly with live productions as well as the engagement and artist development work that the theatre hosts and produces. We’re so grateful they give their time and expertise in the pursuit of something they really believe in.

After an intensive period of trustee recruitment in 2023-2024, 8 new trustees were appointed with 5 starting their terms last year and 3 this year. It was felt important to stagger the arrival of some of the new trustees to create a pipeline of trustees and to ensure they don’t all retire at the same time in the future - therefore this year the charity welcomed Natasha Bergg, Aisha Stewart and Ryan Wilce to the board. Significantly this year we also said goodbye to Pippa Warin who served as our Chair for over 6 years. Her invaluable support and expertise in arts management and fundraising were utterly invaluable for many years during the charity’s adolescence and she will be missed.

A trustee Away Day was held in the spring, facilitated by the Chair. The session was used to give the newer trustees a deeper insight into the history, workings and existing systems of the charity and to give all trustees a chance to reflect and interrogate them. Outcomes of the staff Away Day were also shared. The outcomes of this Trustee Away Day will be used in the creation of a new 3-year Business Plan for the charity.

At the end of the financial year, The Wardrobe Theatre's board of trustees was made up of: Susanna Amato, Caitlin Anniss, Natasha Bergg, Kerry Francis, Joe Hill, Andrea Keogh, Naomi Miller (Chair), Lydia Scott, Aisha Stewart, Daniel Watson (Treasurer), Ryan Wilce, Lynette Wilson

Management

The Wardrobe Theatre Company is a Charitable Incorporated Organisation (CIO). The objects of the CIO are:

The advancement of the arts and the education of the public in the appreciation and understanding of performing arts in all their forms, through the operation, facilitation and management of The Wardrobe Theatre for the public benefit, taking place in particular but not exclusively in, the city of Bristol and surrounding areas. The full powers of the CIO are listed in our constitution.

A copy of The Wardrobe Theatre’s Governing Document (Constitution, updated on 9 October 2024) is available on request.

Trustees and staff carried out a comprehensive policy audit for the theatre this year to review, update and create all the policies required by the charity. Updates included an updated Constitution, a new Risk Management Policy and a refresh of the theatre’s Risk Register. This work is ongoing and carrying on into 2025-26.

11

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

Financial Review

For the year ending 30 June 2025, income was £502,825.

and expenditure was £540,041.

resulting in a deficit for the year of -£37,216.

Total funds at 30 June 2025 were £44,517.

There were no restricted funds at the year end (2024: £4,419).

Total income from ticket sales in 2024-2025 was £406,842, which represents 81% of the charity’s income.

From January 2025 the rent and service charge of the theatre space from our landlords, The Old Market Assembly, was increased by 28%, prompting the charity to review and update our lease agreement, work that continued into 2025-2026.

The charity aims to hold sufficient reserves to cover three months’ normal operating costs. Based on previous financial years and forecasts for 2025-2026, the trustees estimate this to be £53,000. At 30 June 2025, unrestricted reserves stood at £44,517 which is behind this target. However, our positive outlook in terms of grant funding and advanced ticket sales for the financial year 25/26 shows that is the charity remains a going concern.

The trustees consider that the charity will continue as a going concern for a period of at least 12 months from the date on which these financial statements are approved for the following reasons. The charity holds unrestricted reserves that exceed £53,000; and The charity’s key funders have confirmed future support and a determination to ensure The Wardrobe Theatre will outlive the cost of living crisis.

12

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Report of the trustees

For the year ended 30 June 2025

Statement of Responsibilities of the Trustees

The trustees are responsible for preparing the trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102: The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

The law applicable to charities in England and Wales 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 charity and the incoming resources and application of resources, including the net income or expenditure, of the charity for the year. In preparing those financial statements the trustees are required to:

The trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy at any time the financial position of the charity and which enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the constitution. The trustees are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £10 to the assets of the charity in the event of winding up. The trustees are members of the charity but this entitles them only to voting rights. The trustees have no beneficial interest in the charity.

Independent Examiners

Hewitt Accountancy Ltd were appointed as independent examiners to the charity during the year, replacing Godfrey Wilson Limited.

Approved by the trustees on 29[th] January 2026 and signed on their behalf by

Naomi Miller - Chair

13

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

Independent examiner's report

To the trustees of

The Wardrobe Theatre

I report to the trustees on my examination of the accounts of The Wardrobe Theatre (the CIO) for the year ended 30 June 2025, which are set out on pages 15 to 27.

Responsibilities and basis of report

As the charity trustees of the CIO you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the CIO’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner’s statement

I confirm that as a member of the ICAEW I am subject to the FRC’s Revised Ethical Standard 2016, which I have applied with respect to this engagement.

Since the CIO’s gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies.

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

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.

Date: 29[th] January 2026

Peter E K Hewitt ACA Member of the ICAEW

For and on behalf of:

Hewitt Accountancy Ltd

Chartered Accountants 40 Harcourt Road Redland Bristol BS6 7RE

14

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Statement of financial activities

For the year ended 30 June 2025



Note
Income from:
Donations
3
Charitable activities
4
Other trading activities
5
Investments
6
Total income

Expenditure on:
Raising funds
Charitable activities
Total expenditure
8

Net expenditure and net
movement in funds
9

Reconciliation of funds:
Total funds brought forward

Total funds carried forward		 Restricted
£
31,717
-
-
-
31,717
-
36,136
36,136
(4,419)
4,419
0		 Unrestricted
£
30,086
431,844
8,423
755
471,108
29,319
474,586
503,905
(32,797)
77,314
44,517		 2025
Total
£
61,803
431,844
8,423
755
502,825
29,319
510,722
540,041
(37,216)
81,733
44,517		 2024
Total
£
52,440
318,943
15,165
-
386,548
22,896
412,529
435,425
(48,877)
130,610
81,733

All of the above results are derived from continuing activities. There were no other recognised gains or losses other than those stated above. Movements in funds are disclosed in note 16 to the accounts.

15

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Balance sheet

As at 30 June 2025 2024
£
-

Note
Fixed assets
Tangible assets
12
Current assets
Debtors
13
Cash at bank and in hand
Liabilities
Creditors: amounts falling due within 1 year
14
Net current assets
Net assets
15
Funds
16
Restricted funds
Unrestricted funds
General funds
Total charity funds		 £
34,896

91,204

126,100

82,023
 2025
£
440
44,077
44,517
-
44,517
44,517
32,585
91,138
123,723
41,990
81,733
81,733
4,419
77,314
81,733

Approved by the trustees on 29[th] January 2026 and signed on their behalf by

Naomi Miller - Chair

16

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

1. Accounting policies

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities in preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019) - (Charities SORP (FRS 102)), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

The Wardrobe Theatre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note.

b) Going concern basis of accounting

The accounts have been prepared on the assumption that the charity is able to continue as a going concern, which the trustees consider appropriate having regard to the current level of unrestricted reserves. There are no material uncertainties about the charity's ability to continue as a going concern.

c) Income

Income is recognised when the charity has entitlement to the funds, any performance conditions attached to the item of income have been met, it is probable that the income will be received, and the amount can be measured reliably.

Income received in advance of the provision of theatrical performances is deferred until criteria for income recognition are met.

d) Interest receivable

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity: this is normally upon notification of the interest paid or payable by the bank.

e) Funds accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Restricted funds are donations which the donor has specified are to be solely used for particular areas of the charity's work or for specific projects being undertaken by the charity.

f) Expenditure and irrecoverable VAT

Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably.

Irrecoverable VAT is charged as a cost against the activity for which the expenditure was incurred.

17

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

1. Accounting policies (continued)

g) Allocation of support and governance costs

Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. Governance costs are the costs associated with the governance arrangements of the charity, including the costs of complying with constitutional and statutory requirements and any costs associated with the strategic management of the charity’s activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities on the basis of the direct costs incurred, as follows:

2025 2024
Raising funds 5% 5%
Charitable activities 95% 95%

h) Tangible fixed assets

Depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life. The depreciation rates in use are as follows:

Fixtures, fittings and equipment: 3 years

i) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

j) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

k) Creditors

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

l) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently recognised at amortised cost using the effective interest method.

m) Pension costs

The charity operates a defined contribution pension scheme for its employees. There are no further liabilities other than those already recognised in the SOFA.

n) Accounting estimates and key judgements

In the application of the charity's accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on

18

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

1. Accounting policies (continued)

n) Accounting estimates and key judgements (continued)

historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

The key sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Depreciation

As described in note 1(h) to the financial statements, depreciation is provided at rates calculated to write down the cost of each asset to its estimated residual value over its expected useful life.

Theatre Tax Relief

The charity has estimated the credit receivable under Theatre Tax Relief based on its eligible production expenditure incurred during current and prior periods. The amount receivable as at 30 June 2025 is estimated at £26,538 and included within accrued income. As this amount is subject to review and approval by HMRC, actual results may differ. Any changes to the expected amount receivable during the year are adjusted through income from charitable activities.

2. Prior period comparatives: statement of financial activities

Income from:
Donations
Charitable activities
Other trading activities
Total income
Expenditure on:
Raising funds
Charitable activities
Total expenditure
Net expenditure and movement in funds		 Restricted
£
43,585
-
-
43,585
-
47,086
47,086
(3,501)		 Unrestricted
£
8,855
318,943
15,165
342,963
22,896
365,443
388,339
(45,376)		 2024
Total
£
52,440
318,943
15,165
386,548
22,896
412,529
435,425
(48,877)

19

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

3. Income from donations

Income from donations
2025
Restricted Unrestricted Total
£ £ £
Grants:
Arts Council England 27,243 - 27,243
Bristol City Council 2,474 - 2,474
The Arts Society 2,000 - 2,000
Donations:
Public donations - 27,476 27,476
Pizza and beer donations - 1,890 1,890
Fan club subscriptions - 720 720
Total income from donations 31,717 30,086 34,327
Prior period comparative 2024
Restricted Unrestricted Total
£ £ £
Grants:
Arts Council England 31,598 - 31,598
YKTO 7,568 - 7,568
Bristol City Council 4,419 - 4,419
Donations:
Public donations - 2,909 2,909
Pizza and beer donations - 1,783 1,783
Fan club subscriptions - 4,163 4,163
Total income from donations 43,585 8,855 52,440

4. Income from charitable activities

Ticket sales
Theatre tax relief
Total income from charitable
activities		 Restricted
£
-
-
-		 Unrestricted
£
406,842
25,002
431,844		 2025
Total
£
406,842
25,002
431,844		 2024
Total
£
309,920
9,023
318,943

All income from charitable activities in the prior year was unrestricted.

20

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

5. Income from other trading activities

Income from other trading activities
Advertising
Kiosk sales
Merchandise
Space hire
Total income from other trading
activities		 Restricted
£
-
-
-
-
-		 Unrestricted
£
600
1,058
5
6,760
8,423		 2025
Total
£
600
1,058
5
6,760
8,423		 2024
Total
£
-
-
15
15,150
15,165

All income from other trading activities in the prior year was unrestricted.

6. Income from investments

2025 2024
Restricted Unrestricted Total Total
£ £ £ £
Bank interest received - 755 755 -

7. Government grants

The charity received government grants, defined as funding from Arts Council England, Bristol City Council and The Arts Society (2024: Arts Council England, YTKO and Bristol City Council) to fund charitable activities. The total value of such grants in the year ending 30 June 2025 was £31,717 (2024: £43,585). There are no unfulfilled conditions or contingencies attached to these grants in the year.

21

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

8. Total expenditure

Production fees
Staff costs (note 9)
Box office service charges
Rent and service charges
Advertising and marketing
Premises costs
Repairs and maintenance
Insurance
Accountancy
Depreciation
Miscellaneous costs
Subscriptions
Travel and subsistence
Sub-total
Allocation of support and
governance costs
Total expenditure		 Raising
funds
£
-
27,811
-
-
-
-
-
-
-
-
-
-
-
27,811
1,508
29,319		 Charitable
activities
£
309,754
97,337
24,244
27,188
13,154
4,184
5,205
-
-
-
-
-
996
482,062
28,660
510,722		 Support
and
governance
costs
£
-
13,905
-
-
-
-
-
1,539
7,080
30
5,197
2,417
-
30,168
(30,168)
-		 2025 Total
£
309,754
139,053
24,244
27,188
13,154
4,184
5,205
1,539
7,080
30
5,197
2,417
996
540,041
-
540,041		 Raising
funds
£
-
21,699
-
-
-
-
-
-
-
-
-
-
-
21,699
1,197
22,896		 Charitable
activities
£
229,541
75,946
22,675
23,068
18,510
3,669
13,691
-
-
-
-
-
2,686
389,786
22,743
412,529		 Support
and
governance
costs
£
-
10,850
-
-
-
-
-
1,508
4,421
-
3,615
3,546
-
23,940
(23,940)
-		 2024 Total
£
229,541
108,495
22,675
23,068
18,510
3,669
13,691
1,508
4,421
-
3,615
3,546
2,686
435,425
-
435,425

Total governance costs were £7,080 (2024: £4,421).

22

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

9. Net movement in funds

This is stated after charging:

This is stated after charging:
2025 2024
£ £
Depreciation 30 -
Operating lease payments 15,120 12,840
Trustees' remuneration Nil Nil
Trustees' reimbursed expenses Nil Nil
Independent examiners' remuneration:
▪ Independent examination (including VAT) 1,650 1,650
▪ Other services Nil 2,771

10. Staff costs and numbers

Staff costs were as follows:

Salaries and wages
Social security costs
Pension costs		 2025
£
134,342
2,592
2,119
139,053		 2024
£
101,959
4,122
2,414
108,495

No employee earned more than £60,000 during the year.

The key management personnel of the charity comprise the trustees, the co-directors and chief financial officer. The total employee benefits of the key management personnel were £85,334 (2024: £75,854).

2025 2024
No. No.
Average headcount 10.2 5.2

11. Taxation

The charity is exempt from corporation tax as all its income is charitable and is applied for charitable purposes.

23

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

12. Tangible fixed assets

Cost
At 1 July 2024
Additions
Disposals
At 30 June 2025
Depreciation
At 1 July 2024
Charge for the year
On disposals
Net book value
At 30 June 2025
At 30 June 2024
13.Debtors
Trade debtors
Accrued income
14.Creditors: amounts due within 1 year
Trade creditors
Accruals
Other taxation and social security
Deferred income
Other creditors		 Fixtures,
fittings
and
equipment
£
5,460
470
(4,904)
1,026
5,460
30
(4,904)
586
440
-
2025
£
3,445
31,451
34,896
2025
£
21,337
9,625
1,377
47,773
1,911
82,023		 Total
£
5,460
-
-
5,460
5,460
30
(4,904)
586
440
-
2024
£
3,773
28,812
32,585
2024
£
4,035
6,095
3,119
28,066
675
41,990

24

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

15. Analysis of net assets between funds

Tangible fixed assets
Current assets
Current liabilities
Net assets at 30 June 2025
Prior year comparative
Tangible fixed assets
Current assets
Current liabilities
Net assets at 30 June 2024		 Restricted
funds
£
-
-
-
-
Restricted
funds
£
-
4,419
-
4,419		 Unrestricted
funds
£
440
126,100
(82,023)
44,517
Unrestricted
funds
£
-
119,304
(41,990)
77,314		 Total
funds
£
440
126,100
(82,023)
44,077
Total
funds
£
-
123,723
(41,990)
81,733

25

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

16.Movements in funds
Restricted funds
Arts Council England
Bristol City Council
The Arts Society
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds
Prior period comparative
Restricted funds
Arts Council England
YKTO
Bristol City Council
Theatres Trust
The Arts Society
Total restricted funds
Unrestricted funds
General funds
Total unrestricted funds
Total funds		 At 1 July
2024
£
-
4,419
-
4,419
77,314
77,314
81,733
At 1 July
2023
£
-
-
-
4,920
3,000
7,920
122,690
122,690
130,610		 Income
£
27,243
2,474
2,000
31,717
471,108
471,108
502,825
Income
£
31,598
7,568
4,419
-
-
43,585
342,963
342,963
386,548		 Expenditure
£
(27,243)
(6,893)
(2,000)
(36,136)
(503,905)
(503,905)
(540,041)
Expenditure
£
(31,598)
(7,568)
-
(4,920)
(3,000)
(47,086)
(388,339)
(388,339)
(435,425)		 At 30 June
2025
£
-
-
-
-
44,517
44,517
44,517
At 30 June
2024
£
-
-
4,419
-
-
4,419
77,314
77,314
81,733

Purposes of restricted funds:

Arts Council England : For the production of the 2024/2025 Christmas Show. Bristol City Council: Funding for family theatre performances and High Street recovery grant. The Arts Society : For a family theatre for East Bristol communities.

26

Docusign Envelope ID: 75A0D7EA-8608-4347-8A53-5051A27F3497

The Wardrobe Theatre

Notes to the financial statements

For the year ended 30 June 2025

17. Operating lease commitments

The charity had operating leases at the year end with total future minimum lease payments as follows:

Amount falling due:
Within 1 year
Within 1 - 5 years		 2025
£
8,220
-
8,220		 2024
£
6,420
-
6,420

18. Related party transactions

There were no related party transactions during the current or prior period.

27