Chortty Reg151rollon No. 1180336 Company Reglthatlon No. 11240693 (England and Wales) Cambridge Theatre Trust Annual report and unaudited financial statements For the year ended 31 March 2025 Cambridge Thealre Trust LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mr G Mvllon Mt C Cuming Mr N Holl M5 N J Roach Secretury Ms N J Rooch Chorty nvmber {England and Wales) 1180336 Company number 11240693 Reglstered ofhce Chopel Cottoge 38 High Streèt Wesl Wrolling Camb5 CB21 SLU Independent examiner The MHH Partnership Elslree House Watson's Yard High Street Cottenhom Cambridge CB24 8RX Cambridge Thealre Trust CONTENTS Ptsge Tiustees, report Independent examiners report stotement ol linoncial activities Balance Sheet Notes to the finoncial stotements Cambridge Thealre Trust TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2025 The Irvslees presenl Iheir annuol report and finonciol slolement5 for the yeoi ended 31 March 2025. The linanciol statements have been prepored in occordonce with Ihe accounling policies sel out in note I lo the linanciol statements and comply with the trust'g orlicles ol associotion. the Companies Act 2(M)6 ond 'Accounting ond Reporting by Choiities.. Stotement ol Recommènded Practice applicoble to charitie5 preparing their accounts in accordance with the Financial Reporting Slandord opplicable in the UK and Republic ol Ireland IFRS 1021 las omendèd lor occounting periods commencing from l Jonuory 20161 Oblectfves tsnd acllvNles The trust's objects ore.. To odvance the educotion ol the public in all aspects ol dramatic ort including the orts ol drama. mime. opero. bollel. music. singing ond dance.. The developmenl ol public oppreciation ol art by the presentation ol public perfoimonces ond ony other means deemed oppropriale.. And to lurlher the sociol and culluiol welfare ol the communily. The tIU5tee5 have paid due regard to guidance issued by the Charity Commi55ion in deciding what activities the trust should vndertoke. Achlevements ond perfomiunce Flnonclal revlew The charity's tumover lor year ending 31 Morch 2025 wos £132.655 Aller operating costs, there was a surplus ol £1.880 lor the year. Re5er¥es Pollcy Our continued plcjn ha5 been to Set 05ide at least IO% Df annual tumover to protect the charity. We have achieved thi5 during 2024-2025 ond now hold hèolthy rèserves in our soving5 occount. Glfl Ald We continued to be iegi5teied for gift aid. which ha5 allowed u5 to take advantage Of thi5 Scheme. We wll continue to claim back 25% of membe15hip fees on futuie 5how5. Thealre Tax Rellel It 15 our intention to continue claiming back Theatre Tax Relief which allows theotiical charitie5 to claim back 40% against certain areas Of spend ielating to productions. Investment Pollcy und Oblectfves Aside from retoining o prvdent omounl in reserve eoch yeor, most of the chorily's funds ore spent in the short term so ot present. there ore few funds for long term investment. The tiusteeg have assessed the mojoi risks to which the trust Is exposed. and ore galislied that systems ore in ploce to miligale exposure to the mojoi risks. FUTURE PLANS This yeai. we have produced 4 show5 IFootloDse. Guys & Do115. Into the Wood5 Jni and Nativifyl. Our focu5 on the youth pioductions see5 U5 build upon our previou5 success and piovide5 a unique experience foi our young membership. Our commitment to continuing adull shows that include children provides a pathway for perfDimer5 to continue their ielation5hip with the company. Having 1051 our Aitistic Director in July 2024. we are looking to focus on producing fewei shDWS but will continue to piovide access to challenging and thought-provoking theatie. Cambridge Thealre Trust TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) {CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 structure. govelnunce ond monggement The Irusl 15 0 compony limited by ouorontee. The tnJstees. who are also the directors for the purpose Df company law, and who served during the year and up to Ihe dote of 5ignoture of the finonciol stotements Wele.. Mr G MLJllon Mr C Cuming Mr N Hall tsNJRooch TIu5tee5 ale selected to represent a lange of expertise that will benefit the chaiity a5 It glov￿. We have twstee5 with 5ki115 in finance. child protection and theatre 05 well a5 widei cornmercial busines5 exp05uIe. No formal tiaining of tru5tee5 15 given a5 geneialw they ale already knowAedgeable in their field. None of the trustees ha5 any beneficial inteiest in the company. All of the tfU5tees are rnembers of the compcjny and guaiantee to contribute £1 in the event of a winding up. The Iruslees, report wos opproved by the Lloord of Trustee5. MI G Mullan Trustee 1611212025 Dated.. Cambridge Thealre Trust INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF Cambridge Theatre Trust I report to the trustee5 on my exominotion of the finonciol stotement5 of Combridge Theotre Trust (the trust) for Ihe yeor ended 31 Morch 2025. Responslbnltles and bo$l$ of ￿pOrt As the tiustees of the trust land olso its direclors for the purposes of compony lowl, you ore iesponsible for the preparation ot the financial statements in occordonce with Ihe iequiiements of the Companies Act 2006. Hoving sotislied myself that the linoncial statements ol the trust are not required lo be oudited under Port 16 of the Companies Act 2006 and are eligible lor independent examination. I report in respect ol my examination of the Irusl's finonciol stoterY)ents corried out under section 145 01 the Chorilies Act 2011. In carrying out my examination I hove followed the Directions given by the Chorily Commission under section 14515llbl ol the Chorities Act 201 Independent examlnew'$ slotemenl I hove completed My exominalion. I confirm thot no mallers have come to my attention in connection with the exominotion giving me couse lo believe thot in any moteriol respect.. accounting recoid5 weie not kept in ie5pect Df the tnJst as required by section 386 Of the Companies Act 2006. the financiol slolemenls do not occord with Ihose records.. or the finonciol stotements do not comply with the occovnting requirements ot seclion 396 of the Componies Act 2006 other thon ony requirement that the linanciol slalements give a true ond foir view. which is not o motter considered os porl ol on independent exominotion., or the financial Statements have not been prepared in accoidance with the method5 and principle5 of the statement Df Recommended Practice for accounting and reporting by charitie5 applicable to charities piepaiing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Iielond IFRS 1021. I hove no concerns ond hove come across no other motters in connection with the exominotion to which ollenlion should be drown in Ihis report in order to enoble o proper understonding of the financiol stotements lo Hayden Wat50n FCCA E15ttee Housè Wotson's Yard High Street Cottènhom Cambridge C824 8RX Dated.. 1711212025 Cambridge Thealre Trust STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2025 Unre$lrlcled funds 2025 Umestrlcled funds 2024 Notes Income from: Donotions ond legocies Choritable oclivilies Investmenls 54,436 77.804 415 15,828 83.931 237 Total Income 132.655 99.996 Expenditure on.. Choritoble oclivilies 130.775 93.858 Total exPend￿vie 130.775 93.858 Net Income ond movement In lund5 6.138 Reconclllallon of funds- Fund balances al l April 2024 30.(K)9 23.871 Fund bab]nce5 al 31 March 2￿25 31.889 30,009 The stCTtement of financial aclivitie5 include5 all gain5 and 1055e5 recogni5ed in the year. All income and expenditure derive from continuing activities. Cambridge Thealre Trust BALANCE SHEET AS AT31 MARCH 2025 2025 2024 Notes Current as5et5 stocks Debtors Cash ot bank and in hand 1.750 1.750 305 32.037 12 32.367 34,117 34.092 Credllors.. amounts lalllng due wllhln one year 13 12.2281 14.0831 Net current assets 31.889 30.009 Income funds Unrestricted funds 31,889 30.009 Total Funds 31.889 30.009 The company is entitled to the exemption from the oudit requirement contoined in section 477 ol the Companies Act 2006. for thè yeoi ended 31 Morch 2025. The director5 acknovAedge their iespon5ibilitie5 for complying with the requirements of the Companies Act 2(K)6 with respect to accounting record5 and the preparation of financial 5tatement5. The members hove not required Ihe company to obtoin an oudit of its finonciol stotements for Ihe yeor in qvestion in occoidonce with section 476. These linanciol slalements have been prepored in occoidance with the provisions opplicable lo companies subject to the smoll companies regime. 1611212025 The financial 5totèment5 were opproved by the Trustee5 On ......................... 6ak8&k MRUft fvlr G Mullan Trustee Company Reglstrotlon No. 11240693 Cambridge Thealre Trust NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 Accountln9 pollcles Chailty Infomiatlon Cambridge Theatre TnJst is a piivate company limited by guarantee incoipoiated in Englond ond Wales. The iegisteied office is Chopel Cottoge, 38 High Stieel, West Wrolling, Comb5, CB215LU. l.l Accounllng conventlon The financial slalement5 have been piepaied in accordance with the trust's governing document. the Companies Act 2006. FRS 102 'The Financial Repoiting Stondoid applicable in the UK and Republic of Iieland and the Chaiities SORP "Accounting and Reporting by Charitie5.' Statement of Recommended Practice opplicable to charities preparing their accounts in accordance with the Financial Reporting Standoid opplicable in the UK and Republic of Ireland IFRS 1021" The tIU5t is a Public Benefit Entity as defined by FRS 102. The tIU5t has taken advantage of the provisions in the SORP for charities not to piepaie a statement of cash flow5. The linoncial statements ore prepored in slerting, which is the lunclional currency ol the trust. Monetory amounts in these linonciol stotements are rounded to the neoresl £. The linonciol slolements hove been piepoied under the historicol cost convention. Imodilied to include the ievalLJation ol freehold propertiès ond to inclLJde investment propertie5 and ceitoin finonciol instrument5 at fair valuel. The principal accounting policies odopted orè set out below. 1.2 Golng concern At the lime ol opproving the linanciol slolements. the trustees have a reosonable eKpectotion thot the trust hos odèquote resources to continuè in operotionol existence for the fore5eeoble future. Thus the tIUStees continue to adopt the going concern bosis of occounting in prepoiing the finonciol stotemènts. 1.3 Chavllable lund$ Unrestricted fund5 are available for use at the discretion Of the trustee5 in furtheiance of their charitable objective5. Reslricled funds are subjecl to specific conditions by donors or giantois as to how they moy be used. The purposes and uses ol the restricted funds ore set out in the notes to the financial statements. Endowment funds are subject lo specific conditions by donors Ihal the copitol musl be mointoined by the trust. 1.4 Income Incomè is iecognised when the trust is legally entitled to it aller ony perlomonce conditions hove been met. the amounts con be meosuied reliably. and it is proboble thot income will be received. Cosh donations ore recognised on receipt. Olher donotions are recognised once the trust hos been notified ol the donotion. unless performonce condilions require deferrol of the omount. Income tox recoveroble in relotion to clonations received under Gilt Aid or deeds ol covenant is recognised al the time ol the donotion. Legacie5 are recogni5ed on ieceipt or otherwise if the trust has been notified of on impending distribution, the amount is known. and receipt is expected. If the amount is not known. Ihe legacy is treated as a contingent asset. Cambridge Thealre Trust NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Accounllng pollcles (Conllnued) 1.5 Expenditure Expendiluie is recognised once there is a legal or consliuclive obligotion to Iransler economic benefit lo o third porty. it is probable Ihol a transfer ol economic benefits will be required in selllemenl. ond the omounl of the obligation con be meosuied reliably. Expendiluie is classified by aclivily. The costs ol eoch activily ore made up ol the lolal ol direct costs ond shored costs. including support costs involve(J in undertaking each oclivily. Direct costs allributable lo a single activity are allocated directly to thot octivity. Shared costs which conliibute to more Ihon one octivity ond support costs which ore not alliit)utot)le lo a single octivily ore apportioned between those oclivilies on a basi5 consistent with the use ol resources. Cenliol stall costs ore ollocoled on the bosis ol time spent. ond depreciation charges ore allocated on the portion ol the osset's use. 1.6 Stocks stocks ole stated at the lower of c05t and estimated selling piice le55 Costs to complele and sell. C05t comprises direct mateiia15 and. Mthere applicable, direct labour Costs and those overhead5 that have been incuired in biinging the 5tock5 to their present location and condition. Items held foi distribution at no or nominal consideration are measured the lower of replacement Cost and cost. Net realisok)le value is the eslimoled selling price less all eslimoled costs ol completion ond costs to be incurred in morkeling. selling and distribution. 1.7 Cash and cash equwalents Cash ond cosh equivalents include cash in hond. dep0511s held al coll with banks. other shorl-term liquid investments with original malurilies ol three months or less. and bank oveidralt5. Bank overdrolls are shown within borrowings in current liobililies. 1.8 Financial in5trument5 The trust hos elected to apply the provisions ol Section I I 'Bosic Finoncial Instrumenls, ond Section 12 '0ther Financiol Instruments Issues. ol FRS 102 to all ol ils finoncial instruments. Financiol instruments are recognised in the Irusl's bolonce sheet when the tIU5t becomes porly to the controctual provisions ol the instrument. Financiol assets ond liabilities c]re offset. with the nel amounts presented in the finoncial stotements. when there is o legolly enlorceoble right to set oll the iecognised omounts and thère is an inlenlion to sellle on o nel basis or to rèolise the osset ond settle the liability simultaneously. B05ic finoncial assets Basic financial Ossets. which include debtors and cash ond bank balonces. are initiolly measured ot Iionsoction price including Ironsoction costs ond ore subsequently coriied at amoitised cost using the ellective interest method unless the arrangement conslilules a financing transaction. where the Iionsoclion is tmeasuied al the present volue ol the luluie receipts discounted ol o morket rote ol interest. Finonciol ossets clossilied 05 receivable wthin one yeoi are nol omorlised. 805ic financtul liabililies Basic financial liabilities. including creditors and bonk loans are initially recognised at transaction price unless the arrangemènt constitutes o linoncing tronsaction. where the debt instrument is measured ol the present volue ol the future payments discounled al a market rote ol inleresl. Finoncial liabilities clogsilied as poyoble within one yeoi are nol omorlised. Debt instruments ore subsequently coiried ot amoitlsed cost. using the effective interest rote method. Tiode creditor5 ole obligations to poy for good5 or services that hove been ocquirèd in the ordinory course of operolions from suppliers. Amounts poyable ore clossilied os current liabilities if poyment is due within one year or les5. If not, they ale presented a5 non