**REGISTERED CHARITY NUMBER: 1186929**
## **REPORT OF THE TRUSTEES AND**
**UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
**FOR**
**GROUNDLINGS THEATRE TRUST**
**GROUNDLINGS THEATRE TRUST**
## **CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
||**Page**|
|---|---|
|**Report of the Trustees**|1 to 5|
|**Independent Examiner's Report**|6|
|**Statement of Financial Activities**|7|
|**Balance Sheet**|8|
|**Notes to the Financial Statements**|9 to 16|
## **GROUNDLINGS THEATRE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
## **OBJECTIVES AND ACTIVITIES**
## **Objectives and aims**
The objects of the charity as laid down in the constitution are: -
The advancement of the performing arts, particularly the art of drama, in the City of Portsmouth and neighbouring districts for the public benefit by:
- a. Educating the public and growing public understanding and appreciation of the performing arts through the delivery of arts events and performances
- b. Providing opportunities for participation in the performing arts including in the production of arts events and performances, particularly but not exclusively by young people.
## **Public benefit**
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 and in planning future activities. The trustees refer to public benefit throughout this report.
Page 1
## **GROUNDLINGS THEATRE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **ACHIEVEMENTS AND PERFORMANCE**
The financial year ending March 2025 saw a step improvement on the prior year, driven particularly by greater participation in our amateur productions along with an increase in our self-generated income.
## **Delivery of arts and performance**
## **In house productions**
This year we produced four in-house productions, all of which featured a majority of amateur performers from our local community, including a new youth drama led production, DNA. Our pantomime, Rapunzel, featured a core cast of professional actors that allowed our local performers to learn and develop during their experience alongside an Arts Council Project Grant supported production of a locally adapted play of The Great Gatsby.
We produced two fully amateur productions featuring a local cast all under the age of 18. Our musical theatre drama school students showcased their talent in an end of year production of 'Annie' that held two sold out shows. New to our programme, we produced the play, DNA, that is part of the GSCE curriculum that featured a local cast of 13 - 18 years. Our pantomime, Rapunzel, featured five professional cast members supported by over 40 children cast members from the local community aged 8 to 18.
In line with our charitable objectives, and in view of the cost-of-living crisis facing many families in the lead into Christmas, we continued with our flat affordable ticket pricing for adults and children. Our overall income from productions was down 3% year on year driven potentially by greater number of amateur productions and increasing cost of living impacting ticket sales.
## **Visiting Shows**
Visiting productions enable the Trust to provide a breadth of shows that appeal to a cross section of age groups and interests including comedy, drama and music. These further support our objective of driving a greater appreciation of the arts across our community while optimising the use of our space. This year, we continued our focus on local creative partnerships that delivered shows of their own work such as local dramatic groups Southsea Shakespeare Actors; The Young Creatives, Abstract and Holmesfest. These were supplemented by travelling productions such as Portsmouth Jazz curated events and dramatic historical performances Henry VII and Edwyrdian tales.
## **Creative & community hires**
We continued to hire out our space to enable local creatives and community groups to rehearse and present their work in our space. This year, these included creative organisations such as Young Creatives, PortsFest and Crowbait, as well as dance troupes including Abstract and Mazerine Effect.
## **Participation in the arts**
## **Amateur acting roles**
Through our focus on in-house production of amateur shows, we have enabled a breadth of ages groups to act, sing and perform in shows ranging from drama to our pantomime. In total, we engaged with more than 140 amateur performers throughout the year.
Through our creative hires there has been an equal number of opportunities for participation, particularly through Abstract, Showbait and Holmesfest.
## **Education**
Our Drama School continued to grow in registration numbers. . Our musical theatre for 7 - 16-year-olds features a mix of singing, dancing and drama and attracted 45 students and our adult drama attracted 7 students. We also ran a successful Summer School programme and conducted one Theatre in Education (TIE) session, fulfilling the completion of the Brunei-developed TIE from the previous Financial Year.
## **Community Engagement and Events**
We continued our programme of engagement with local community groups during the year, actively participating in activities such as Portsea Carnival, Battle of Southsea and the HMS Warrior Christmas Event, as well as presenting local events for the community to engage in including regular pub quizzes and music bingo as well as events designed specifically for children during half term such as our Easter Bunny Experience, Silent Disco and Crafty Kittens event.
Page 2
## **GROUNDLINGS THEATRE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **Work experience**
We offered work experience placements to 10 students over three-day and two-week periods, many of whom have continued to build their relationship with us.
## **Hospitality Hires**
It was a strong year for hospitality hires at the Theatre with many having been booked the year prior and the increase was likely in part due to a continued return to normal after the pandemic.
## **Grants & Fundraising**
We were very fortunate to have the continued support of Portsmouth City Council through a revenue grant, and we were funded to participate in the Holiday Activity & Food (HAF) scheme for children over the summer.
The final 10% of the Project Grant from Arts Council England was received for the delivery of Great Gatsby in April 2024.
We were successful in applying for a Theatres Trust 'Resilient Communities Grants Round 2' for the development of our community engagement and impact practice. A tender process was facilitated and The Audience Agency was appointed to carry out this work. The grant was only drawn down on receipt of an invoice and in FY25 this was the Project Initiation that included our audience data analysis and a survey conducted, with the delivery of this work in 2025.
## **Building and Location**
With the Grade II* listed building the Trust operates out of having been sold to new owners in September 2023, the Trust commenced discussions with the new landlord to ascertain their long-term intention towards supporting the Trust's operation given the Trust would have less than five years remaining on its current lease come April 2025. At the end of the financial year, the new landlords confirmed that they would not be extending or renegotiating the lease to allow the Trust to continue to operate out of the current location. With no long-term security and the privately owned building being on the Heritage at Risk register and requiring significant investment to maintain, improve accessibility and support future growth, it was not viable for the Trust to invest public or charitable funding into the site.
The Trustees therefore looked at options for future strategy with the outcome agreed to move to a new location, just a stone's throw from its current site at Boathouse 5 within the Portsmouth Historic Quarter. This move, scheduled for October 2025, enables the Trust to continue to deliver the drama school and theatre productions in the heart of the community it currently operates and maintain the strong links to the heritage and history of Portsmouth.
## **FINANCIAL REVIEW**
Our income reduced by 8% compared to the prior year, however this reflects a 57% reduction in grant funding. Our self-generated income increasing by 9%, a good result in progressing the terms of sustainability of our operation, which was predominantly due to our bar income associated with our events.
Expenditure also reduced, by 5%, due to primarily due to the staffing restructure implemented in August 2024 creating a 17% year on year decrease against a minor wage increase above minimum wage implemented in April 2024.
As a result, the charity ended the year with total funds of £6,053 in a challenging year. The charity aims to maintain reserves sufficient to fund operations for at least three months and continues to work towards that target. The charity remains reliant on grant income and financial forecasts factor in grant income which is at this time not certain, were the charity to be unsuccessful in obtaining sufficient grant funding operations would need to be scaled back to a sustainable level.
The trustees have considered the charities ability to continue as a going concern and have concluded that there are no uncertainties, with more detail on the assessment within the accounting policies.
Page 3
## **GROUNDLINGS THEATRE TRUST**
## **REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 MARCH 2025**
## **STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document**
The charity is controlled by its governing document, its Constitution, and constitutes a Charitable Incorporated Organisation (CIO).
## **Trustees**
There were 5 trustees in place the full financial year, with one of the six trustees resigning in August 2024.
## **Staffing**
In line with the financial position of the Trust, a review of the structure was conducted to optimise the staffing in line with the hours of operation of the Trust. This resulted in the two full time roles being made redundant and replaced with part time roles to enable greater flexibility in staffing and managing overheads. The two individuals in these roles chose to leave including the Manager. One role was filled in November 2024 and two Trustees stepped in to share the Manager role in a voluntary capacity during the course of the transition to the new location.
## **Risk management**
The trustees have a duty of care to identify and review the risks to which the charity is exposed and to ensure appropriate controls are in place to provide reasonable assurance against fraud and error. The trustees have in place the necessary policies and procedures for the operation of the theatre and regularly review the financial position and policies of the Trust.
The core risk faced by the Trust was in the short tenure left on the current lease and the associated financial position. The Trustees therefore put in place the staffing restructure in August 2024 and decision to move locations in March 2025 in line with supporting the long-term sustainability of the Trust.
As a small charity that was formed in 2020, the first two years were impacted by Covid, the financial position is the key risk that needs to be managed, which the Trustees closely monitor on a monthly basis.
## **THANK YOU FOR SUPPORT**
This Annual Report gives the Board an opportunity to offer public thanks to the many people and organisations who have supported their work during the year. Special thanks this year go to the following:
- All the volunteers who give up so much of their valuable time to support us
- The staff who have gone above and beyond
- All the people who have generously donated to the trust
- All the ticket holders who, when given the choice, chose to donate their ticket money
- All the grant funders who have trusted us with their funding including:
- Portsmouth City Council
- The Arts Council
- Theatre's Trust
The Trust would also like to thank Portsmouth Historic Quarter for their support in providing a new home for the Trust from October 2025.
Local individuals and businesses for their generous support and sponsorship in kind during FY25:
- Spirit Chasers
- Isle of Wight Ferries
- Gosport Ferry
- CrowBait
## **REFERENCE AND ADMINISTRATIVE DETAILS Registered Charity number**
1186929
## **Principal address**
Boathouse 5 Historic Dockyard Portsmouth Hants PO1 3LJ
Page 4
GROUNDLINGS THEATRE TRUST
REPORTOF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
Trustees
C M Alison
R S Sexton (resigned 6.8.20241
H Fl'ley
DHart
S CollEr
A Sirrmons
S E Walker lapp(Mnted 1.11.20251
Independent Examiner
S Mackie FCA
Morris Crocker
Chartered Accountsnts
Lake Hous9
2 Port Way
Port Sol8nt
Portsmouth
Hampshirè
PO8 4TY
Bank•r:
Lloyds Bank plc
Appr
26 January2026
ed by order of the toard of truslees on ............................................. and signed on rts behalf by.
r- Trustee
Page 5
## **INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF GROUNDLINGS THEATRE TRUST**
## **Independent examiner's report to the trustees of Groundlings Theatre Trust**
I report to the charity trustees on my examination of the accounts of Groundlings Theatre Trust (the Trust) for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity trustees of the Trust 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 Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145(5)(b) of the Act.
## **Independent examiner's statement - matters of concern identified**
Since your charity's gross income exceeded £250,000 your examiner must be a member of a listed body. I can confirm that I am qualified to undertake the examination because I am a member of the Institute of Chartered Accountants in England and Wales, which is one of the listed bodies.
I have completed my examination.
Given the negative unrestricted funds of the charity at the year end a detailed review of the going concern status of the charity has been undertaken by the trustees of which a brief narrative is included within the accounting policies.
I confirm that no other matters have come to my attention that give me cause to believe that in any material respect:
1. accounting records were not kept in respect of the Trust as required by Section 130 of the Act; or 2. the accounts do not accord with those records; or
3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 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.
I confirm that there are no other matters to which your attention should be drawn to enable a proper understanding of the accounts to be reached.
S Mackie FCA
Morris Crocker Chartered Accountants Lake House 2 Port Way Port Solent Portsmouth Hampshire PO6 4TY
Date: ............................................. 30/01/2026
Page 6
## **GROUNDLINGS THEATRE TRUST**
## **STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025**
|Unrestricted
funds
Notes
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
2
8,081
**Charitable activities**
4
Operation of theatre
236,408
Investment income
3
165
**Total**
244,654
**EXPENDITURE ON**
**Charitable activities**
5
Operation of theatre
241,107
**NET INCOME/(EXPENDITURE)**
3,547
**RECONCILIATION OF FUNDS**
Total funds brought forward
(12,494)
**TOTAL FUNDS CARRIED FORWARD**
(8,947)|Restricted
funds
£
-
24,013
-
24,013
35,195
(11,182)
26,182
15,000|2025
Total
funds
£
8,081
260,421
165
268,667
276,302
(7,635)
13,688
6,053|2024
Total
funds
£
3,776
287,273
281|
|---|---|---|---|
||||291,330|
||||289,604|
||||1,726
11,962|
||||13,688|
The notes form part of these financial statements
Page 7
GROUNDLINGS THEATRE TRUST
BALANCE SHEEr
31 MARCH 2025
2025
2024
Notes
FIXED ASSETS
T8ngible 8sset$
10
1.456
CURRENT ASSETS
Debtors
Cash al bank
6,869
35,569
8.193
49,439
42,438
57.632
CREDITORS
Arnounts falling due within one year
12
{36,3851
145.4001
NET CURRENT ASSErs
6.053
12.232
TOTAL ASSETS LESS CURRENT
LIABIUTIES
6,053
13,688
NET A8SETS
6,053
13,688
FUNDS
Unrestricted funds
R85trict8d funds
14
18,9471
15,0(X)
112.4941
26.182
TOTAL FUNDS
6,053
13.688
The financial 81atemgnts wgre 8pproved by the B98rd of Trustees arKI 8ulh0ri89d for issue on
26 January 2026 8ndw8ré sign*d on its b8h8lf by..
A Simrnons- Trust8•
The notes form part of these financial statements
Page 8
**GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES**
## **Basis of preparing the financial statements**
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
Whilst the charity shows negative unrestricted funds at 31 March 2025 the trustees consider that there are no material uncertainties regarding the charity's ability to continue as a going concern due to changes made to the Trust's operations during the year and subsequent to the year end. In October 2025 the Trust moved to a new home, eliminating a significant proportion of the Trust's fixed costs and enabling the Trust to focus on its delivery of its charitable objects.
The trustees have forecasted to March 2027 which indicates on a prudent basis that the charity will have enough cashflow to operate. The main assumption in the forecast is future income from grants, which, whilst the Trust has had positive conversations with grantors, is not certain at this time.
## **Income**
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
## **Expenditure**
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
## **Taxation**
The charity is exempt from tax on its charitable activities.
## **Fund accounting**
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.
Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.
## **Pension costs and other post-retirement benefits**
The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.
## **Financial instruments**
The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable investments in stocks and shares. The measurement basis used for these instruments is detailed below.
## **Debtors and cash at bank**
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. Cash at bank and in hand included cash held on deposit or in a current account.
Page 9
continued...
**GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **1. ACCOUNTING POLICIES - continued**
## **Financial instruments**
## **Creditors and provisions**
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.
## **2. DONATIONS AND LEGACIES**
|Donations
**3.**
**INVESTMENT INCOME**
Deposit account interest
All investment income is derived from assets held in the United Kingdom.
**4.**
**INCOME FROM CHARITABLE ACTIVITIES**
Activity
Event Income
Operation of theatre
Bar & Café Income
Operation of theatre
Car Park Income
Operation of theatre
Grants
Operation of theatre
Grants received, included in the above, are as follows:
Portsmouth City Council
Arts Council
Theatre Trust
Low Carbon Across the South and East
HDH Wills|2025
£
8,081
2025
£
165
2025
£
135,628
67,306
22,474
35,013
260,421
2025
£
26,136
3,000
4,877
-
1,000
35,013|2024
£
3,776
2024
£
281
2024
£
134,469
52,940
18,783
81,081|2024
£
3,776
2024
£
281
2024
£
134,469
52,940
18,783
81,081|2024
£
3,776|
|---|---|---|---|---|
|||||2024
£
281|
|||287,273|||
||||2024
£
42,587
27,000
-
11,494
-||
||||81,081||
Page 10
continued...
## **GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **5. CHARITABLE ACTIVITIES COSTS**
|Operation of theatre
**6.**
**SUPPORT COSTS**
Operation of theatre
Support costs, included in the above, are as follows:
**Finance**
Bank charges
**Governance costs**
Accountancy and legal fees
Legal and professional fees
Independent examiners fee|Support
Direct
costs (see
Costs
note 6)
£
£
263,592
12,710
Governance
Finance
costs
£
£
3,276
9,434
2025
Operation
of
theatre
£
3,276
2025
Operation
of
theatre
£
180
7,382
1,872
9,434|Totals
£
276,302
Totals
£
12,710
2024
Total
activities
£
3,736
2024
Total
activities
£
540
2,812
1,442
4,794|
|---|---|---|
||||
## **7. TRUSTEES' REMUNERATION AND BENEFITS**
There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.
## **Trustees' expenses**
During the year no trustees (2024: none) were reimbursed out of pocket expenses totalling £nil (2024: £nil).
Page 11
continued...
## **GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **8. STAFF COSTS**
||2025|2024|
|---|---|---|
||£|£|
|Wages and salaries|74,713|89,189|
|Social security|-|977|
|Employers pension costs|1,288|1,660|
||||
||76,001|91,826|
||||
|The average monthly number of employees during the year was as follows:
2025
Operational staff
5||2024
5|
No employees received emoluments in excess of £60,000.
## **Key Management Personnel**
The key management personnel of the charity comprises the Executive and Creative director. The total consideration paid and employee remuneration and benefits of the key management personnel of the charity was £21,030 (2024: £31,257).
## **9.**
|**COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES**
Unrestricted
funds
£
**INCOME AND ENDOWMENTS FROM**
Donations and legacies
3,776
**Charitable activities**
Operation of theatre
246,192
Investment income
281
**Total**
250,249
**EXPENDITURE ON**
**Charitable activities**
Operation of theatre
274,267
**NET INCOME/(EXPENDITURE)**
(24,018)
**RECONCILIATION OF FUNDS**
Total funds brought forward
11,524
**TOTAL FUNDS CARRIED FORWARD**
(12,494)|Restricted
funds
£
-
41,081
-
41,081
15,337
25,744
438
26,182|Total
funds
£
3,776
287,273
281|
|---|---|---|
|||291,330|
|||289,604|
|||1,726
11,962|
|||13,688|
Page 12
continued...
## **GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **10. TANGIBLE FIXED ASSETS**
|**COST**
At 1 April 2024 and 31 March 2025
**DEPRECIATION**
At 1 April 2024
Charge for year
At 31 March 2025
**NET BOOK VALUE**
At 31 March 2025
At 31 March 2024
**11.**
**DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade debtors
Prepayments and accrued income
**12.**
**CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR**
Trade creditors
Taxation and social security
Other creditors
Brought forward
Amount released to incoming resources
Amount deferred in year
Carried forward|Computer
equipment
£
4,368
2,912
1,456
4,368
-
1,456
2025
2024
£
£
5,607
2,621
1,262
5,572
6,869
8,193
2025
2024
£
£
1,376
9,277
757
3,204
34,252
32,919
36,385
45,400|Computer
equipment
£
4,368
2,912
1,456
4,368
-
1,456
2025
2024
£
£
5,607
2,621
1,262
5,572
6,869
8,193
2025
2024
£
£
1,376
9,277
757
3,204
34,252
32,919
36,385
45,400|Computer
equipment
£
4,368
2,912
1,456
4,368
-
1,456
2025
2024
£
£
5,607
2,621
1,262
5,572
6,869
8,193
2025
2024
£
£
1,376
9,277
757
3,204
34,252
32,919
36,385
45,400|Computer
equipment
£
4,368
2,912
1,456
4,368
-
1,456
2025
2024
£
£
5,607
2,621
1,262
5,572
6,869
8,193
2025
2024
£
£
1,376
9,277
757
3,204
34,252
32,919
36,385
45,400|
|---|---|---|---|---|
||2025||2024||
||£||£||
||12,801||19,882||
||(12,801)||(19,882)||
||22,090||12,801||
||||||
||22,090||12,801||
||||||
Deferred income relates to show and booking income received in advance.
Page 13
continued...
## **GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **13. ANALYSIS OF NET ASSETS BETWEEN FUNDS**
|Unrestricted
Restricted
funds
funds
£
£
Fixed assets
-
-
Current assets
27,438
15,000
Current liabilities
(36,385)
-
(8,947)
15,000
**14.**
**MOVEMENT IN FUNDS**
At 1.4.24
£
**Unrestricted funds**
General fund
(12,494)
HDH Wills
-
(12,494)
**Restricted funds**
Portsmouth City Council
-
Theatre Trust
438
Arts Council
25,744
26,182
**TOTAL FUNDS**
13,688
Net movement in funds, included in the above are as follows:
Incoming
resources
£
**Unrestricted funds**
General fund
243,654
HDH Wills
1,000
244,654
**Restricted funds**
Portsmouth City Council
16,136
Theatre Trust
4,878
Arts Council
2,999
24,013
**TOTAL FUNDS**
268,667|2025
2024
Total
Total
funds
funds
£
£
-
1,456
42,438
57,632
(36,385)
(45,400)
6,053
13,688
Net
movement
At
in funds
31.3.25
£
£
2,547
(9,947)
1,000
1,000
3,547
(8,947)
15,000
15,000
(438)
-
(25,744)
-
(11,182)
15,000
(7,635)
6,053
Resources
Movement
expended
in funds
£
£
(241,107)
2,547
-
1,000
(241,107)
3,547
(1,136)
15,000
(5,316)
(438)
(28,743)
(25,744)
(35,195)
(11,182)
(276,302)
(7,635)|
|---|---|
Page 14
continued...
**GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **14. MOVEMENT IN FUNDS - continued**
## **Comparatives for movement in funds**
|||Net||
|---|---|---|---|
|||movement|At|
||At 1.4.23|in funds|31.3.24|
||£|£|£|
|**Unrestricted funds**||||
|General fund|11,524|(24,018)|(12,494)|
|**Restricted funds**||||
|Theatre Trust|438|-|438|
|Arts Council|-|25,744|25,744|
||438|25,744|26,182|
|**TOTAL FUNDS**|11,962|1,726|13,688|
|Comparative net movement in funds, included in the above are as follows:||||
||Incoming|Resources|Movement|
||resources|expended|in funds|
||£|£|£|
|**Unrestricted funds**||||
|General fund|250,249|(274,267)|(24,018)|
|**Restricted funds**||||
|Portsmouth City Council|2,587|(2,587)|-|
|Arts Council|27,000|(1,256)|25,744|
|Low Carbon Across the South and East|11,494|(11,494)|-|
||41,081|(15,337)|25,744|
|**TOTAL FUNDS**|291,330|(289,604)|1,726|
Portsmouth City Council Support for operational move to new location in 2026
First installment of the Audience Development grant using the Audience Theatre Trust Agency consultancy. Arts Council
Final installment of project grant awarded in 2024.
Page 15
continued...
**GROUNDLINGS THEATRE TRUST**
## **NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025**
## **15. RELATED PARTY DISCLOSURES**
There were no related party transactions for the year ended 31 March 2025.
Page 16