Company regi5tra¢¥on Durnb¢r'. 08821450 ChaTiiJ registyaiion number.. 1199099 Nonsuch Theatre Limited IA compan) limiicd b). guardnl¢¢) Ann￿￿ ReTX>rt and Firtat)cial Ststrments forthe Year Ended 31 March 2024 RM'B CA Lirnit Northgaie Flouse Nonh (tat¢ N¢i%" Basfurd Nottingham NG7 7BQ Non5ueh Tbeatre Limited Contents Reference and Administrative Detsils Trusitts, Report 2to9 Independent ENamirt¢l$ Report 10 Siatemeni of Fift￿la1 Aciivitics Balance Sheti 1310 14 Noos ts) ihc Financial Stat¢Tn¢nts 15To29 Nonsuch Theatre Limited Reference Admini5trntive Details C-hair Mr5 Catherine AnrK Mahmood Ch*rity Rezistr*tion NumbtT IIW99 CompAn) Rtgistratlon liumbtr 08821450 The Charity LS Lncorpordied in ED8land & Wales. BroailM?y Cirwna Broad Streei Noirsngham NC¥l 3A1. R¢glittrtd Offiet Indtp¢Nd¢nt Ex*mhner RWB CA Limited North8aie IIou5C North (iaie Niw. Basford oiiin8ham NG7 7BQ Page I Nonsuch Tbealre Limited Trustees, Report The tTUSte¢s, who are diTe¢tors tor thc purposes of company lam,. present ihe annual rcport iogLther with the rinancial stai¢menis of Ihe chariiablL compan}. for Ihc Jeoir ended 31 Mdrch 2024. -l-hc acLI)Urtis haKL bLLn prLparcd tn accordancc wilh th¥ arcounlinb p(>liciL'S sei out in NOTE I to thc 3rrounis and coMpIN ii'iih thu chai'iil 5 801'crning doLumLni. Ihe CompanI￿s Act 21)06 and 'ALcountinLJ and RiP011ing by Charities.. SiaiLmLnt or ReLommLndcd PraLtii¢ applicable iv Lhdrilies preparing their ac£ouii15 in accordaiirc iiiih Ihc Ftnancial Reporting Siandard opplic4bl¢ 2n the LIK and Rcpublic of Ircland 11.'RS IU21" las amLnded for ¢counting periods Commencing from l January 20191. 'fhe Annual Repurt represenis Nonsuch Siudi05 Iihc irading name tsf Nortsucb-fheairL' Lidl. a rcgisicr¢d charity, and iis wholl), 0￿med subsidiary Nonsuch Studivs-l'rading Lid. Administrative details I Non5uch Theatre Ltd Chariiy regisiraiion number.. 1199099 IRegisi¢red on the 26 May 20221 Company Limiied by Guarantee without sh3re capitsl, Numb¢r'. 08821450 Principal & R¢gist¢red o£fiLe'. BToadivaN Cincma, Broad Sireei, Nollingham NGI 3AL Tru5Iee￿DireC1or5 Caihcrinc Mahmood (Chairl LaurLn IlJrkL5¥Nickolds (Resigncd 20 Novembcr 20231 Tamil> Cookson CourinLy NLiilclord ChTlStoph¢T Seivell Manin Valeiiline Secr¢iary = Aoifc imiiria Daniels CEOIArtistic Director= Edward Booti 2 NoD$u¢h Studio$ Trading Ltd Privaic Limiicd Company Number: 14125.108 {Regisicred on 23 Mav ?0221 Princ&pal & Rcgisicrcd Office.. Broadm'ay Cinemi Broad StrL'ei. Noiiingham NGI 3AL Dirccior5 '. Courtney NLiltlcford Martin Val¢niiDe Secreiary Aoife M￿la Daniels Pa8e 2 Iyonsueh Themtre Limiled TruJt¢¢s' Report Strueiure? gov¢rnin¢t man￿gerne￿t Noiisuch Theatre l.td Nonsu¢h 'fheatre LLd registered on 19 Dlcember 2013 Js a compan>. limited by and lis governing docunieni coinprisi.4 MLmvrandum and Anicles ofAs5Dcialithn I'ru%iL'CS ar¢ rccruilLd Ihrough a fvrmul prv¢¢ss Ih41 in¥ludcs OPLn inviluiiLlll lu apply dnd with diie reLuKniii(In ofihL harilv's rLqUINlll¥nts for skills aiid experienL¢ and ol. it¥ Jiversiiy balaiice. 'I'hL rLcruitniLnl pri￿¢￿S inLludLS dissLmintiiion i)I' a I'ru8iLe Rliruiimcni ljuck., ini¢rvi¥lV, and iniiial nppi)rtuniiy Iii aiiind 14oord mLciing in l)h%LrvLr 51aius. An induciion 1% pri)vid¢d I'iir n¢1% Iru51LL5 ihrou¥h thL Lhair an¢J CLO/ArtisiiL Dircclor and Iriiinin is providLd in rnilltlrb a% ¢.bb. %alLbuardin8 aiid fiiJilliiiiil Inuniioring. 'rhv <>rgani%(Ili(Inul 8iruiiur¢ ¥ll()ivs li)r ￿ C'l-.()IAr1151ic l)iN'eioi wilh a small supporting *L'niur manJg¢meni ieam. vhii mandg4 i(1 duv (Ipcruliiins ()i-Ihi Lhurit).. 'S'ru8i¥Yg JpprovL all 51all'.gulari¢s Jnd ¥Vd81S. 'rhi I'ru¥(¥¥S m¢¥'l lormg11)' oil a 4uariirly ba515 Nnd also #¢i¢nd aciiviiic5 and evert￿. 'I'h¢ Cl-.OIArii51ic DireLiur riP(lrt% 11) IhL C'hair ol. Ihc l-rust¢Ls in thddiiion 10 aryLndinx Jnd rcp(>rtin&p ai TrusieL meciin¥s. Dcci5ion muking Nonsuch Stud105 Trhdln% Ltd NonsuLh Studs()4-1'rydinb l.imiiLd i%a5 fL&1151Lrcd (In 23 Mav 2022 as u whi>ll¥ (Iwned subsidiary of Nvn5uLh ThLiilrL -iJ. in r¢4pL?II&L Ici d TL4UL41 Iriiin IhL C'harily ('i)nimi%%ii)11 li> managc iinv Lnmm¢r¢ial aLliViiy Ihrougli a 5Lparai¢ company. DirLYioTS ofNon5urh %tudii)s I'rJdinB l.ld are nominal¢d by lh¢ I ru$teLS CII'NL)n5uch 'l'liiatrL l.td. ()ni¢ irading comniences Ihc Dirc¥lors will mce¢ formally on 41 4uartcrl>' basis wilh aiiLndÉiniL and a TLPQrt Irum lh¢ CI-.QIAni¥iiL Dirlciiir. l)¥¢i%iE?n makiiibi incluEILs d¥liii¥d d¢l¥8aie(l auihority and any kvy dc¥ision$ r¢f¢rrL,d 10 th¥ Ili)iird vfiliL' p&fLni Ll)mpanyy Niinsu¥h 'l'h¢41r¢ l.Id. PulJll¢' benejlt To ihL bL51 of Ihcir abiliiy Ihi charity -fiuslLiS have. in Lx¢fLi%in¥ their POiVLf5. compilLd with IhL guiduncL' on publiL bLnefit puhlisliL,d by IIIL C'liarily C-()nimi%%ii)n. 'I'h¢ 'l'nisi¢c5 liaic cn$urc(J compliatlLC ivith public bLncfit bv (7l¥fs1'iing lh¢ dLIi%-LTr ol'ihi acliviliL5 id¢niiliwd hLIoiv. l-he iruslles cunlirm Ihdl th¥> hdVL LcimpliLd with Ihc reqiiirnmcnls ol. %eLlion 17 of the C-.harilic5 A¢t 2011 io have du¢ rL'gard 10 ili¢ publiL hcnclii guidaiicL publishLd by IhL Charity c.ommission flir l.-n&*land Wale5. Page 3 Nonsuch Theatre Limited Trustees, Report Objectives and activitie5 'I'he charily's objects per the Articles of AssD¢iation arc a5 follows.. The advancement of the arls of drama. perfom)aiir¢, music. pociry. collaboraiiv¢ arts. contemporary Nisual arts and mldia art% for th¢ public benetii in Noiiingham primarily. and thc midlands region. naiionall). an(1 intemationall!, b! the preseniaiion of artwork5. work5hi)ps, concert5. p¢rfornith¢es. exhibitions and f¢s1ii'al% and by encouraging and dcv¢loping publi¢ pariiLIPdiion in these art foTms. Our values And vision Non5uch Studi05 b¢lirve ihat CREATIVITY [% POWI.'R and our mission is ID see a world Iransformed through culturdl and creative freedom. A¢T(Iss all our pro8ramme5 w'¢ aim to empower cultural und ¢r¢aiive freedom5 Ihrough unlocking creaiivity and celebraiin8 lite. IN'¢ lunddmentdllj beliLvL Ihai ihe pow¢r vf crLdllVltJ can b¢nLlit thc lii'es of cvcryon¢ Tcgardlcss of agc, culiuTal background or acce5% to opportulllly. WL want to make sure thai evcrvonc ha5 the chance to explore their creatii'iiy. artistic e.¥pru81ion and cultural frccdoms and, bj dning so. li'¢ 51rii'¢ lo empower our communitl¢S to make posiiive changes 10 CLlibrdte lite, ltingham and iour acro*% the LK and bcyond. Il'e support artists. IheairL' makcr5 and CTeatives ai anv stage ofiheir career to makt their bcsi w(Irk, lind Ihcir pgih and support Iheir econoiniL d¢Nelopment. Strategi¢ objectives Tts empowLr indi%iduals lo unlock ih¢ir poienligl 'fo support comniuniiie% to ihrii'c To provide opporluniii¢s for ¢cvttomic devclopment "lo irnproi'c menul h¢alth and ivellbeing 'I'o aci as champions ttt"social justice. Page 4 Nonsuch Theatre Limited Tru5tces' Report A¢hitYem¢nt$ #nd performance Ni)nsu¢h Siudius b¢ram¥ a r¢gisi¢r¢d ¢h8riiy on 26 May 2022. Bet%ieen l April 2021 and 31 March 2024. Non$u¢h Siudios delivered the folluiving ￿livi¢1¢$.. Crealivt PToKramm¢ •Nisnsuch Pri)du¢¥d £hvMs CrLtsIIVL bven ..Ni)rt%LILh Sludiv8 coniinuL'd io loius (jn rLC(Ivery Irom Covid ov¢r Ihis financial y¢ar. whiLh led In much ol. Ihe Aft¥r mdkink IhL dL'LISIL)n 10 venue i)piriiiiuns bbhind in %¥pi¢mbLr 2023. Ihe N'iin%uch I'c(Im rLfLILU55cd touring niw wirk. 'I'hi¥ wd¥ %uppciri¥d hv d Iran%iiion i)rganisoiionol dLv¥lttpm¢nt kyr#ni Irom Artq C'vunLil England which cnablLd lis 10 Lrcall u nLM' 14u.%in¥s¥ ChangL Plan ahead of hal'ing J nL%v Busin¥s5 1)Idn Ir(im WL rii¥ivLd (i Lomini%$inn fri)m Nniiingham C 11> C'i)uncil li) dL%'LI()P il digiliK.d v¥rsion ol'iiur curl) Yiurs shom, Jirikrts. I'his wa.% pri)ducLd iii punnirship wilh 'l'hL lJnivLrsiiy cil. Noi¢in%h#m's Virtuul InimersivL' Pri)LluLflC)n 51Lidii) und ivill luunLh in 2U24125. IIWL rL¥L'ii'¢d a birani ITi>lll AT1% ('ouiiLil l.'Il&Tliiiid tts hrinb haLk nur C'cnlrL %iagiL pri)&runiini Inr Iw(i yLor5. work'ing i%'iih 5 %iLiindJri' %ihcicils uimss Nuiiin&Trhum%hirL I(1 Lornini%$iiin ILiur nlw ¥vi>rks l(Ir ti¥nu¥ udi¥n¥¥S. I'hi% pri?jL'LI %vu% rL%¥i)I'kLd 10 liKus uii Iiiurinb Iu SLhool% iii&tL'ud 1>1. h()%iinB ¢rips du¢ lo ihe iialurL ol. iiln l)CLLinbLI' 21121, WL pr(?diiiL,d Ili¥ lirsi Niin%uLh %hnw madL Irom scraiih Jl 92 1.1)%vcr l)arliamLnl SirLLI, (11 li'l.AWI.: NI>%L'mbLf £iiid DK¥imb¢r wcl¢vrning somL ul. our sir(Ingisl uudiinL¢S and s¥tlin8 lh¢ Ii?ne li)I' Nflll.4uLli 4 fuiur pr(>dLtcLd wi)Tk. ()Il'l'l.A Wl.;l) will i()ur ihc UK in 202.1126. •VisitinbJ l)ri)btrrdnimLd Show.5 & l.-vcnL8 . 5WL IVLl¢ilDi¥d $274 audiLnLL' nii'mbcrs io livi cven¢5 aErp$s our visiiin8 PTO8r*unmc of show$ pnd p¢rlormance o¥ir lh¢ v¥or. ucross 107 evlnis. ,)WL I?£iniLul&irly f(￿￿5*ed i)ii buildinu mL)TC rcsilicnl audi¢nGes Ivr ¢vcnLs progrxniming and rcduEcd (¥v¢rall nuinbirs ol. k*'¥nis in i)rdLf li) inLrca5i aiiLnduncL. Wc 4LI41i Wnrkcd wilh key louring i11mp￿l¢S io ulTcr mur¥ shi?rt.runs i)f$hoiY$ 12-3 nib7hisl sucli Aiikivdrd l>roJuLiions. ,.IWe %upportL.d dn%' pTI)bTrrammid 5111?ws i%.hci %vcrL dul Ii? all¢'nd Nun5u¢h Siudi()& in 2U24 10 find ulicmalive Vlnu Slots in Npllingham dller IhL' announcemrni nf our v¢nu¢ Closure in Sepiernber 202.1. Communlty Pro%rAmme •Rc¥iilur L Sjrogrammc ihrough thc vcur we conlinued io run tiur Inng-8ianding regular class progiramme and %u¥i¢%slully 1r￿%111￿ncd our pro¥ramiiiL' froiii uur pivn VL'lluL io nliv l<)Luti(In% acr4)S5 Nnllin¥hdni C'ily CLiiirL. ,N(Iiihuih Young? C()mpan>'" M'¥eklv l'ciuih IhcdirL Ic?r a8L% 5-9 .1 li)mL Rangirs vcckdlly voiith ihLaire and crl'uiive aciivil%' .4rs$ion$ ftsr ihe home cducotLd communitv og¢d 5-13. Jscripl Rcad¢rs- a weekly SLript rcdding group Page 5 Nonsuch Theatre Limited Trustees, Report •N'onsu¢h Siudios rLmained a k¢v partner ot both ChalleNGe and Caplii'aiL Culiural l-'ducaiion Partii¥r4liips. working e.xtcn5iv¢ly with SLhools and children and Joun8 people Jcr05s Nottingham City. Ashfield and Martslield respectii'¢l)'.. •l'his vLar saw us lini8h ihe deliv¢r> vf ihe TakL'over.' You¢h Volunicers PTograJntne in partncrship with Inspire Culiur¢ dnd Captii'ati CLP. l.undLd by a parin¢Tship bciivLin Art5 C.tsuncil England and IhL DLpartmini for Culiural. Media and Sporl 10 enablL morc young peaplc accc5s high.qualitk voluntL'erin¥ i)pponuniiie5. ArFÉ?%s Ihe 5ccond I'car of delivLtv. Nlonsuch %tudios %vorkcd 10 support grO1￿h ol lh¢ pni¥rdmmL. and cultnindiion ol. lh¢ IWU•vLars with a youih-l¢d TAKEOVER P'L51ival i%hich took plarL' lrt an abandoD¢d DcbLnham5 5lore in Mansfield tom￿ cvntrL. 'fhc cveni 5howca%id ihc %i'ork of ovcr 300 14-21-vcar-old5 and i¥Lliomed ¢lose 10 2000 audieR¢¢ m¢mbcrs. •W¢ worked with Linculn Arts CenlT¢ and siudcnts ol. l.in¢oln Lni%'crsity School of PLrlom)ing arts 10 produce d ¢ommunity-foLussed conJTnission callcd DON'T PANIC i%'hich explored a respvnse io LAL s spring programming thcTne Art in Ihc PLrmaLfisi5. W0￿1ng M'iih 5tudLlllS to co-¢reaie thL project w¥ pr()duccd a vo-day outdoor iakeovLr of lh¢ Lincoln Unil'ersity Catnpus welcoming 51udent$ tth participa1¢ in o live podcast. •Working in further panner5hip wilh Capiivaic CEP, we finished Ihi delii'ery and eV￿lIU￿1111)n of ihc Nunuring Througbh ThL Art5 PrvgratllrnL' whiih explored d rLsLarch meihadolu8)' its crcaic imm¢rsii'c, IvLllbcing foLUSSLd exp¢rienc¢3 in primar% SLhools in5pirLd b% the Ll.SA nicthDdologv. W¥ 5UCCCSslullN' rbcLivLd funds 10 further expand this Ivtsrk undcr the tiilc of Thc W¢llbciDg Classroom and ivith some additi(Inal funding fr()rn "I"he Unii'ersily of Nollingham LnablLd Nonsuch Studios io become a Punchdrunk LnrichniLnt PannLr for Ihc b.asi Midlands. l-his Lnabl¢d us iu dLlii'¥r a Teacher l.ed AdvLntur¥ iviih 6 primary schoo15 in NollinEham and NoiiinglJdm511irL ￿ld lurEhLr ditrclop clustLr.ILd ILachcr support and CPD for primary 5chuols. •Working i¥ith Thc unl￿¢r$I1Y of Noiiin¥ham's Cily as Lab progrummL we wcrc 5UPPOrt¢d io run Ni)Itin8harn%hirt Youih I'rends. wliich tinishLd its data gaihcTing in 2023-2024 and will havl its rLpon launLh in 2024-2025. •AcrLlSS Ihc Summ¢T and OLiobLY halt'.tcrTn.4. we delifvcrcd a number (if programmcs fund¢d b). thL Ilulida! Acti￿1￿ l.IJDd aCTtsS% Ni)iiingham Cii!,. Ashfield and Man5fi¢ld in a mix of 5ei-ups drtd PdrtnLrships eDabling ¢hildrL'n in rLcLiPI of Iree-5cho(Il•lllLdls 10 aiLc5S CT¢ative opportuniEie5 and free loud during school holida)'s. Wc ran projeLlS in Sution in A5hfi¢ld, M￿SfI¥ld. Nuttinghotn Citfv and Flucknall over the vcar. •We fJni%hLd Ihe dcliNcry ot. our fir£t st￿1 trom Ihc Nalivnal Lotiery Heriia&i¢ FUDJ whiLh enablLd us 10 d¢liNL'r LLnnox Sirlxi Unlock¥d projLiI thai ¢xplur¢d Ihe hiSlLlry of our pr¥mi5es at 92 Lower l?arliatnLni SirLci aloiig5id¢ Ilie %YiJer LfLaiivL changc (If thL' I￿( 100 yLars in I lockl¢y. NotiinEham. This prnj¢ct saiv us hosi a ividL range ()I' ¢ummuiiit)' workshop5 and Ivork wilh a numbeT of voluniLxrs to creale a physical digitsLI £ine-ILd exhibiison callllogue iN'hich recorded local Social hisieries and cr¢atii'e Lhan¥e. •We r¢ceiv¢d our first grant Irom Hi5tOTiC Ènglattd as pon of their Everyday Hcriiage ProgTamme 10 d¢livLr a programmc looking ai Ihe rolc of art5 and culiurc in relation to Nutiinghani's Victoria l-.mb2nkment Elandsiand. This project Lommenc¢d in planiiing in Q4 of 2023124 and will be rLalisLd in full in 2024125. Page 6 Nonsuch Thealre Limited Trustees, Report Flnsnclal RtvI¢w In ScpiLmbcT 2023 in lighi ofconiinuing challenging trading cir¢umsian¢¢s and ihe increased compeliiion of grani lundiii2 alongside intlaiiiinary pirs%ures. Ihl iru%lLL.s madi IIIL de¢ision IOT N(Insuch Studius io ¢¢#s¢ operaitn8 our '¥DUL ai 92 Loii'Lr Parliamlnl SirL¢l 411 lh¢ Lnd urJ￿uarV 2024. Thi% dcLi%iDn wa8 mad¢ in unanimit). wilh ihL i)rgani8ation'5 .wllioT managLillLni tLam i(1 focu$ on our iliariiable %'nrk nl. proLiuLinK nLW IhLulre unij delii'Lring IraDyli)miaiional Lommunii%' priij¢Llb thdi deliver publiL IliItKiLI Kind bcnifit d.4 w¢ll as finun¥ially saf¢¥uardin8 Ihe organi%alion for lh¥ luiure. Whi151 il ivtss cliar Ih&i prL-¢i)i'id o i'¥nuL ivas u cIL'ar &85el Ihai wi)uld prDvidL ImpL)rtani cornm¢rLiuI inLom¢ i() 4ui)pi)rt ¥vidbr Lhariiable aLIiviiiLS, li bLLdm¥ ei'idLni Ihat ihL L()mmLr¢ial ¥iiviri>iiniLnt hdd &hillLd Iii suLh LXl¥ni Ihal lh¥ I'isk% asSC)Cialid i%iih Poliniiiil LiirnLd inc()m¥ and th¢ iJrgils riLiuiNd iii LIiViT 11)%i$ %v¢rL bL¥ominb inLr¢d%ing 1¥ss-likely lo bc mcl ivi¢h u ante n¥l.k.n J$ pts%siblL and rLdu¥L Ihi s1Jll'i¥￿ 10 jusl 3.6 F'l-I'- InLnihir% Ind inioticinal. was madL in ordLr ID Eiili&iuard ihL wid¢r ¥hdriiahle i)bjLciivL$ ol. Ilii organi$aiian Jnd prLVL'ni luiur dLfi¢iii impdiiing lh¢ charitlCS ￿lbilIti￿.4 In dclivLr our iyork. 'Ihcs¢ acii()ns, once iuken, ov¢rhLud& Irom £40,IIUD- Lfill.OUO pLr niiinth tl) jU%l uii¢J¥r £12.000. Wl)il.41 li 1$ clear Ihal in IL'Qi'in¥ IhL ILo%L (Il. y? l.i)Iv¢r Parliomenl. in Ihis financial v¢ur lh¢ orkyani5ulion ha5 niadl a r¥prLSL'nis IhL' ￿OUnt5 cupiiuliscd Ih¢ a¢pri¢iJiiun up 10 2023. 'fhL iivirJll riyuli br¥n on upirthiing diliiii CXPL'ndiiurc 1% cxcludbd. Ihl op¥rniinb pii.%iii()n VWLrull was cIusL l(I Ihi bN'tsk¢vL'n.-fhis 1.% VIL'wLYi by lh¢ I'ru%ieL% I)VLrall inLDmc lor IhL ycar is 1403,1111 ¢iimparLd 10 £355.081 11 iih u slibthi 2nLreose in churilubl¢ and irddin8 incomc in Ihi.% }'¢ur. New sourLL'5 ul. iradinbi jiiki)111¥ sa%v iL)nsuliancy wurk briiig in ¥ibTnifi¢ani sum% 10 IhL' Lharily highlighied huw Lomm¥rcio1 inr(Im¢ was nol dir¢Lily linked io a vcnuc i)p¢ru¢ion. I..XPLli$e% liir Ihc >'Lar ]% £509,612 ciimp&r¢d io lasi y¥ar £411.384 iviih in1r¢4yi du¢ to luysey iliLurrLd Irom ¢ndiiig %'illuL iipLraliun ab l)uilin¥d *ibiive. 1'hL currl'iii i)olic>' ol. IIIL '] Tu%ILL8 IS li) grnii unrL'siriclLd rc%crvcs cquivalcnt to thrcc monih5 rcducLd uperaling co&is. Prior lo closing our v¥nu4 Ihis w(iuld bL L4ikivalLnt io unrL51fi¢i¢d ri%iri'¥s vl. £96.00(J and 5inLc L105ing ihL v¢nuL Il)is has bLen rLinudell¢d lu £45,f)011, -rhi I￿gLI is an annual £15.fl011 £onirihuiion io re5LfvLS Irom unre8irtilLd surplus Starting friim th¢ Y¢ar ¥Ddirt8 31 March 2025, Ilhich is a vcar lolcr than our 1&81 TrusieLS rcporl, duc In tlic linancial %trnirt piJs¢d by Ihc MONL a%￿Y venue op¢raliLIn. I'hc it)ial funds ol. Ihc ch3riiv 15 nigdlivc £146,027 which compri1¢ of n¥gJliv¢ fr¢¢ r¢scrves tif £175.¥U2 und r¢siri¥lid lunds ot. L29.775. rii%le¥% fLmain Lonfideni in IhL rL5iliLiici' of Ni?n%urh Sliidi()% as a ¥oin¥ concLm. dc5Pll¥ faring very ¢hallL'llLbing circuniiianiL.4 and ali aDlicipai¢d and dpiJrvvLd dlliuii in 2023124. In cnding nur rL'spDnsibiliiiLs ass(Icialed iviih rinanLldl risk io Ihl orgdnisi& lion and N'mov¢LI Ili¢ Ixain linllnLial risks ITI)In Ihe or&ianisaiion's opiiraiions. Nonsuch Theatre Limited Trustees, Report In particular note ofthe current ov¢rdraim position reached ai ihc Lnd ofthe 2023124 financial ycar, lh¢ Tru.%tec% are '¢r) cl¢ar iii their a5SCS5m¢llt ol'ihL PL)silive actions iak'Ln iliihin ihc >'car lo rnmoi'c ihc niaiii causLs Dfthis position and are already seeing ihe positive impaci ihcsc changcs havc had on the organisaiion's finances in Ihc final quarter of ihe year. This 15 already bcing 5¢¢n Ihrough ihc suc¢esstul funds and commissioning PTojec15 that h£ive been delivLrcd in Ihc rinal Tnon¢hs of the 2023124 fittancial Jear. sciiing a clear ton¢ and trajeLlury for tuture recovery, ￿1th th¢ organisaiton on trnck to makc a mode51. but irnportthi surplus in 202412025. 'rh¢"I'rustees coniinu¢ to tnonitor thl siiuation Closcly, as they did Lhroughout thi5 year. m¢eiing regularly to en5urc rundraising and in¢i)mL ¥ienLraiing iargLiS are being mtl lind PTO&'ide addiiiunal suppon ia IhL staffing tearn Thher¢ nLxessary. TrusiLLS arL updated quan¢rl>' in ordLr to dSSLSS an), risks Ihai may ari5c duc to pDIcDii411 t¢duLtion in funding i¥r income iargeis. Fundrai$iDg x¢hi¢vements IrtSPlTe Cultural Le2ming and Libraries coniinu¢d lo be a ke}. panner in funding Nonsuch 5tudiu to deliier Ihe Takcovcr Capiivaie projects in the areas of Mansfield and Ashficld. Somc of thc5c progTamrn¥% w'ill ci>niinuc inio 2Q24.2i. In addition li¥ this Nansueh Siudios 5ecurcd funding ITOM Historic England. Arts Council Eiigland's projiyi grani fun& Noitinghamshire County. Council Youth Service and Thom&8 Farr Trust. Key risks are considered to he: -The continued redevelopmcni of thc organisation's business model. especially in light ot the iTansition away from wenu¢ management. -I".nsuring IhL Nonsuch Studi05 iegm, now reduced in si£e, has the capacities and support lo dclivrr all elemenis of Ihe programme and ivviklvad effectively. -'I'v ¢i?niinu¢ l() lundraisL'. ILI'era8c commercial income amd build donations in ()ider 10 movc the Organisation out of IhL overdrawn tM)sition idcntificd at thc cnd of thi5 )'ear. All Irustees and senior managemeni work iogeiher 10 use an organisalional risk regisier which 15 reviewed and updaied regularly ai Trustee board meetings with athlon$ minuicd and implemcnicd to miiigat¢ any poiential risks. Page 8 Nonsuch Theatre Limited Truslees, Report Si#temtnt of trusttes. responsibilities 'I'hL' Iiusl¥L'S ii%hci ari alN(l LhL dirLcior5 of Nonsuch 'l'hcotre l.imil¥d for Ih¢ purpn%e% of company lawl are rLspLiiisiblc lor PTLparin¥ Ihc trusiLi%' r¢port and thi financial siatemLntb in ￿li￿Ordani¥ wilh 3ppliidbl¥ lui%' ali UDil¥d Kinbdi)m AL¢iiuniink Sianddrds IuniiLd Kingdom Gejitrallv Ar¢Lpi¢d ALLUUrtiirtg PrdCIILel, inLluding F'R% 102 '-1'hL l. inaiiLial Reporting %i¢indard appliidblr in lh¥ LIK und RLpubliL of Ircland" Ci)mpany lllw require% ihe iru$ieLs to pripar¢ lindiicial 51aieinenis lur Lalli linanLial >'Lar. Und¢r Lompaiiy laiy tIiL Iru%iLL% mu%1 n(It dppri)W¥ IliL finJn¥ial siulLinenis unlis5 thi), arc salisfi¢d ihill Il)¥>' giv¥ J Irue and lair vicw (If Ihl %¢di¢ t)1. 411￿1r5 ol. IhL LhariiablL coiiipunv and of Ihc incoming r¥soufLLS und application al. rL%(iurcLs. inLluJin&i 118 in¢atii¢ aiid Lxpindiiur¢, Ill. Ihe Lliariiable Ll)mpany for ihat perii)d. In prLparin& these IlnanLial SidlLm¢nLq, UI¢ 5IILCi %iiilablL E¢r¢ouniing pi)li¢ics und apply ihcm consisllnily; ob8¢rvi Il)¢ mltlithls and principle% iii Ihc ('.haritic.4 S()EiP., make judbTLmiiils dnd Lstimdi¢¥ thai ur¢ r¢asonable and pNd¢ni', ialc Mh¥ihLr dpi)li1obl¥ aecouniing siondords, c(Iinprisink S.'RS 102 hav¢ b¢¥n fallowed. subjeci tu any maikrial dL'panurL's disc105L,d Lipluinld in lh¥ linth¢iJl stal¥mL'nis,' und pr¥pare rhe financial 51alcmeni$ ()ii Ih¥ bioing ¢on¢crn basis unle55 il is inappropri&ie 10 prL'sume Ihai the churii¢LblL cumpan). Ivill Loniinu¢ in bu%in'$¢if Ihyi the aLcount% of Ihc C()mp)ny are nor requircd to he audited tsndLr Pan 16 of lh¢ 2006 Aci and orL' ¥likpibl. for indLpLndLlli LXUtninaiii)n. I rL'POrt in rLSP¥LI (If my ¢x￿1nd11On ()( y(iur Lhiirily'5 aLLI)unis li% ¢arri¥d ciui und¢r S¥Liivn 145 1)I' Ihl C'liarit1¢5 ALI 2011 I'ihe 2011 Ait'l. In carrying out ni) L'xaminaiion I huv¢ lollowLd IhL DirL'iiions gi￿en h>. Th¥ Charilv Commis5ton undcT seciiiin 1451511bl ol'the 2011 Act. Indtptndent txamlD¢r's st*tement inL¢ th¥ C'ompdiiy's ¥ri)s% inLtrniL ixL¥¢d¢d £250,OUO )'uur cxamincr must bc a m¢mk.r ul'a body lislLd in ￿￿tIOn 145 01. IhL 21111 Aci. I conlirm ihts¢ l am quulilicd 10 undenuk¢ ih¢ examinaiion beLuusi l am a m¢mkr ol., which 15 on¢ ()i-Ih¢ li¥lLd bodiLS. I ￿￿￿¢ CDmplcied mv exuminalion. l ¢onlirm ihat na muiier5 hY4i'C come io my ait¢niion in c()nniLlion iviih ih¢ cxaminalipn givinuT L4U%' 10 iK.IiLvL.' l. lli¢ouniin¥ r¢¢ord3 w¢fL' noi kcpt in r¥SPL*I ol. Nunsuch -fhL'atre Limited N'quirld by scciion 3¥6 01. Ihe 2006 Aci. or th¢ aLci)uni8 d() noi aLLvrd wilh Ihi)qL' re¥i)rds.' or Ihc acc(iuni¥ dii n<)1 £i)mpl)' wilh IhL aicouniing rLquir¢m¢ni8 of $Lciion 396 of ihl 211116 Arl i>ihLr than Linv rL'quirLmL'liI Ihai Ihi a¥counis &iji'¥ a 'ifuL Jnd lair i'iLw' Ivhi¢h is not a mJitLr LonsidLrLd a% part ol- In indLpiiid¢nt ¢Xiiminaii()n,' c)r 4. Ihc QLLI>U1115 havi nut bL¥n pr¥'pJr¢d in accordancc with the meihi)ds and principle5 (Il. Ihc Si&l¥in¢ni tsl. RLc(ImmLnd¥d I)r￿like fvr YiL(>uniing and r¥pnriing hy Chariti¥% lappliiable lo churili¥% pfiparing ihLir aiic?uni% in a¢¥ord4n¢e wilh the l.-inan¢ial K¢pnnin8 siandard applicablc in IhL UK and K¥publiL ul. IrLland 11-.KS ia211. I hllvc no conccrn5 and have come J¢m88 no Diher maltLf5 in conn¢¢tion with thL Lxuminotion to whiih Jiteniion should be drdi%Th i i iii ordir lo cnabl¥ a pri>pLr undLrsiandingy of Ihi acruunis In bL' rLaLhL.d. N Cihli TISSLIS InvL51menis 1.222 131.769 16 1.223 131.770 Current Assets 2,330 78.620 36,424 283 Cdsh ai t>ank and in hand 30.707 11)3.05Q Credltori.. Amounls fAllln% dut wiihln one ytar 20 198,1621 1174.5771 Net turrtnt Ilabllitlts Ihl,6551 171,5271 1611.4321 611,24. Crt¢lllor%'. Amuunt% filling duc *ft¢r mort th#n ont ytar 21 IR5.5951 l()g.751)1 141?.1)271 'uiii14 ul the C.'harltv: Re¥trliled inrvme fund5 23 29.775 42.035 Unrestrltted Intomt fund5 LJnrt'striii¢d lunds 175.11021 Total funds 23 l.or the finan¢ial year ¢ndtng.I l Murch 2024 Ihc L'harit) was iniiil¥d 10 cx¢mpiion Irom audil under ￿C¢ll(}n 477 cir lh¢ Companie% Act 2006 rclaiing lo small Lomponi¢.4. l)ir¢¢iors' r¢spon8ibiliiies'. I"hc mcmb¢r5 hav¢ no¢ r¢quircd the Charity to obiain audii of ils accounts fnr (he year in qu¢siiDn in L¢ordancL %%'iih scciion 476., and I'hL dirccloTS aiknc?wlcdg¥ Ili¥ir r¢spnnsibiliiies for complving with the rcquiremeni8 of the Aci with rcspccl 10 acc()uniing records and Ihc prcparalipn iil'ilfCI?uni5. For Ihc finiincial v¢ar indin¥ 31 MdrLh 2024 Ihl Charity IVE15 inliilcd to ¢x¢mpiii>n from audit under seclion 479A of thL C'i)mpaniLs Act 2006 rLlaling 111 5uhsidiary ciimpanic%. Page 13 NoDsueh Theatr¢ Limited (Registration number: 08821450) Balancc Sheet as at 31 March 2024 DirLciors' respon5ibilitie5'. The m¢mb¢r5 hav¢ noi required iht Chariiy to ob¢ain an audii of lis accounis for the v¢ar in qULsiion in a£Lordance wilh section 476. and The dircciors acknowledge ilieiT responsibilitiLs for complying with the requirements olthe Act with r¢sF*¢t io acrounling r¢cuTd5 Ihe preparaiion of accounts. 'I'h¢ financial 5ta¢¥ments on pagLs 1110 29 wer¢ approved by ihe trusiees. and auihoris¢d for issu¢ i)n 18 Nofvcmber 2024 and signcd on (heir behalf by.. Mrs Catherint Anne Mahmood ChaiT Pag¢ 14 Nonsuch Theatre Limiled Noles In th¢ Fingncial Stalem¢nts for the Year Ended 31 March 2024 I Charlty status 'rhc Charily is limiiLd by guaranicL, incorporated in Ln¥liind & Wdl¥%, tind ¥on5¢quenily dlies noi hav¢ shar¢ capiliil. l.'aLh ol. Ilir tIUSlLrs is liabl¢ to ¢tsniribut4 an aniouni not excLediiix £1 ioivurd& th¥ as￿,1& ol. lh¢ ChJi'iiy in 'rhL addr¢8% 1)I'ii$ r¢8lSl¢r¢d offi¢¢ 1$: Bruadivay Cin¥ma Ilruud sifLei Nollin￿¥huM NCJ13AL 2 Attounilng i)ollclt$ ummArv of slEnifirHTht aceountlng pollrlc$ artd kty a¢¢ountln2 estlmatts poli¢i¢s havL been Lon5151ciiily applild Iu dll Ihe y¥ars pr¢senled. unlrsl iiih¥rwi.%L siaikd, St4ttment of ¢onipllaDee 'rhL liiiiinliiil %l(il¥in41114 h¥i'e bL'Ln prLPiinJ iii aLLurdanri %viili A¥¢()uniinbi 4Lnd RLp()nin¥ hy C'.lidriliLS.. 4idlL'mL'ni Ilcpiiriing %lundiird uppliLdbli in Ihl I,'K Rlpuhlic ol. IrLlund 11.'tIS 11121111ssuid in l)Lli>bLr 2UI I)) . IL'hdriii¥ I)RI' 11.'K4 10211. tli4 1'.in&nLial RLponing Siurtdard appliiable in th¥ UK und kLpubliL nl. IrLliind 1S.'RS 11121 and tli1 CiimpdniL'% ALI 211116. BAS15 uf i*rei)4r#tion Nunhuili 'l'liLati'L l.imi1¥￿ m¢cl$ th¥ d¥linilii)n i)I' a public bcnclil cniity undLr blls IU2. A5%cl% and lijbiliiies or¢ iniliallv r¢'¢ogni%L'd ai hisiorical ci)st vr irnn%ailll)n valuL unlL85 1)IhLfw15¥ slal¥d io lh¢ rL.ILvunl acLountsn¥ poli¢y Goln2 ¢Ollttrn -I'h¥ truslLLS LL)nsidLr Ihui ih&rL arL nu niaierial uneL¥rtainiics ab(iut Ihc Chdrity's dbiliiy li> ciinliiiuc a 8oin8 concirn nor &ny 5i&iniliiJnl Iil'unLLrtaini> Ihai allcci Ihc rurying vuloc i)fassLl% hcld by ihc C'hJrily. Exemption from prepxring now sixtement 'I'he Lhdril¥ Lipitrd il) carl> adopt Ilullctin I published on 2 Fcbniury 2010 und havc ihcr¢for¢ nol in¢lud¢d a ¢llsh t10￿. %lalcnicnt in Ihc%L financial $iaiLm¢ni5. Rt¢lAssifi¢nlion of ¢onip*rhtivt grnountS I'hL companN aihiLI'Ld chaTlI)' .sialu% 2()th May 2022. As a result. th¢ a¢¢ounis have been preparcd in aLcordanc¥ i¥ith Chariiv Sl)FiP. Reall(ILatiun of Ihe compuraiive value iy nLLLssiial¢d to malLh th¥ iiimparalivv values &$ rLquirLd by ihL SORI,. Pag¢ 15 Nonsuch Theatre Limited Notes to the Financial Statements for the Year F.nded 31 March 2024 Income and endowmeDt5 All Income is rkvo¥ll15cd on¢¢ the Charity has entitlement to the incomc. Lt 15 probable thai the incom¢ will be received and the amount of the income r¢c¢ii'able Lan be me&surLd T¢liabl)'. Donations t7ndl¥gacies Donaiions ar¢ recognised when the charl￿ has be¢D notificd in Ivriling of both Ihc omouni and 5cltILrn¢nl daic. In lh¢ ei'ent Ihat a donaiion is .4ubjtcl la Londiiions that rcquirc a Iti'el of pcrformantyv b). the Chariiy befor¢ the Charity is entiiled io ihe fund%. IhL incomc i5 dcfLrrLd and not r¢cognisvd unlil either IhoSL ionditi()n.s afL fully MLI, or thL fulfilmLni ol. IhosL coiiditiODS 15 wholly within th¢ ¢orttrol ol- Ihc Lhariry and 51 is probable Ihai th&%c iondiiiun5 will be lullill¢d in the reporting period. Grqniy re¢elvuble (irani% arL rLcogni%cd when Ihe Charity has an cntiilcmcnl tts the funds and ￿lY conditiuns linkLd io ihe gran15 hal'e bcen nict. Wher¢ perlormun¢¢ CLTrndiiions are altaLh¢d io ihL grani and are )'¢t to be m¢t, rhe incomc 15 rerognised as a liability and inLluded u>n IhL balance she¢t delL'rrLd income to be rel¢￿d. Deferredincome DLfcrrcd incom¢ r¢presents alnounts r¢ceiv¢d for future periods and 15 r¢le3s¢d to incoming resourc¢5 Irt the period ror M'hich. it been receivLd. Such income is onlN. difcrr¢d M'hen.. 1.hc donor Specifies that the Rrdnt or donation must Iinlv be used in futu￿ itcLvuniing period5: or The donor has imposed conditions ivhich musi be mei b¢for¢ lh¢ Charity h&$ unconditional ¢nlitlemeni. Dii'idcnds arc recogni5ed onc¢ lh¢ dividend ha5 bcen dcclar¢d and noiificaiton ha5 b¢¢n Teteived of Ihe dividend du¢. Exptnditsre All CNPLnditure is r¢¢ogni8ed once thcre 15 a legal or consiwctivt obligalion 10 ihat expendiiure. li is probabl¢ SL"ItlemL'nt is required and IhL amounL can be measured rLliabl>. All are dllvLaied ti) thc applivahlc c¥pLiidilUfL heading ihat a¥gregui¢ simil(Y Cosls lu Ihai category. Il'h¢re co$1% Ldrtrtoi bL dirccilv aiiribul¢d li) pJriiLular hladings they hai'c bL'L'n allocaicd on a basis mn5isient iviih thc usc ot. re50ufLes. with LLniral sialT ct)51s dll()tatcd un thL basis of lim¢ $perti, and deprLcialion charg¢5 dllucai¥d on ihe ponion of th¢ dssei's u%c. ()thcr support co$ts are 11()Cdled based (>n Ihe sprlad ofsialTcnsl%. I'h¢s¥ ar¢ ccisis incurrcd in aiiracling voluniary income. lh¢ ma￿agemen1 of invesimenls and those incurred in Irdding aciivitics Ihai raise funds. ChariiAble ￿cliVI1￿es Charitable expendiiure compri%¢3 ihosL costs incurred b}. the Chariis. in thc dclivcrn. of its aclivities and scrvice5 for its bcncfi¢iarie&. li includis both c05ts that can be a]locaiid dir¢cil}' io such aLtiviiies and thos¢ i0515 of an indireci nature neLessary to Support them. Page 16 Nonsuch Theatre Limiled Note5 to the FiDan¢ial Statements for the Year Ended 31 March 2024 GoierThat)tt Costs 'rh¥5L inLILidL' IhL LOSIS aiiribuiable io ihe C'harity's complianre with constiiuiional and 51aiuiory rcquircmenls, including audit. siraicgic rnanagcmcDi and irusic¢5 metlings and rcimbursLd expcnsc5. Government grant5 Croi'ctnniL'lli gTant% arL' recogniscd based on (he accrual mod¢l and ar¢ mLasured ai Ihc fair value of the assei receii'Ld or riceivablL. Granis art Lla55ifitd as r¢lating ¢iiher lu reN'enue or 10 as5e15. Gr¢int5 r¢lclting ILI re￿LnUt arL recoÈni5eJ in incomL ov¢r IIiL p¢riud in which Ihe rclatcd cosis aT¥ rccognisLd. Cyran15 fLldiing 10 a55C15 are r¥cogni%Ld ui'¢T ihL expLcted uscful lit¢ ol- thc asset. Wherc part of a grant relaling lo an a55¢1 15 d¢f¢rred. IL is recognised as difcrr¢d ittcome. l-h¢ Charil!. is considercd io pa55 the ie51S bet (iul in P4fdgraph I Schedule 6 of ih¢ finance Acl 2010 Iherifort it iii¢¢i% ili¢ deliniiiui) ol. a Lhariiable companj lor IIK Lorpnraliun purposLs. .4ccordingly. Ihe Charity 18 polCrtii211% Lxempt Irom ia¥aiion in TLSPC¢I nl- IDri)m¢ L?r capiial gains rcccivcd iiiihin caiegc)riLS COVLrcd b!. Chap￿r I Pan I l of Ihc Ctsrp()raiion T&x ALI 2010 or %eciion 256 vf IhL T*Lxaiion of ChargeablL Gain5 Aci 1992. 10 th ¢Xleni Ihat such tnlonie or gaiiis arc applied ¢xclu%ivel)' 10 charilablc PUTP05¢.S. Tan%iblt fixed #5sels Indii'idudl fixLd ds%L•ts cosiing £O.IX> or MOT¢ are initially rec(Irded al c05t, 1655 any sub%Lqueni accumulatl depriciaiion and sub5equ¢nt accumulai¢d impaimieni li7sscs. Deprerislion ond AmortlSAtion l)eprcci¢iliiiD [.% prnfvidLd on 141ngiblc fix¢d asscis 80 &% io ￿rIte off Ihe cosi or vuluaiion, less arty estimated residual valuL. OVLr IhLir expLcied useful e¢onomic life as folluws.. Business combinations Business Lornbinaiion5 are ac¥ounied for undLr Ihe purchase meihod. Ik'here iiecessary. adjusiineiiis are madc 10 th¢ rinancial 5tJl¢mertls Of subsidiaries 10 bring the acrounting w>liciL's usLd into line wilh th05C USLd b), Ihe Charit!. All inird-¥mLlP Iransociions, balanc¢.s, incolnc and txpcnsLS arc climinaicd on ¢ons0lidation. In accordance ivith %e¢ii()n 35 01- l.-R% 102. SLLlion 19 of l-.RS 102 has noi b¢¢n applied in IhLs¢ linancial st41¢n)Lnls in rLspLCt ol. busines. combinaiions el'fecied prior iu th¥ dat¢ c)f Irdnsition. Fixed asset bn%'estmtnt5 FixLd <155¢t Illl'L51mi1115, oih¢r thdn pro¥rammL related invesim¢nts, are in¢ludcd di markci value at ihc bJl4n¢¢ shecL dai¢. K¢alised 82ins and Iossc5 011 inv¢sirnc1115 Calculated as thc dillercncc b¢iii'e¢n .S￿1￿8 stocks. Cost Is deterniincd u.8ing ihe firsi.in. firsi-oui IFIFOI. Trade debtor5 'I"rade debtors ar¢ atnounts due fn)rn cusiomers for merchandise sold or setviccs pcrfornied in th¢ ordinary course ot. business. 'I"rade d¢biDrs are TttogJi.%ed initiall). 2t Ihc iransaclion priL¢. The) 8re subscqu¢nil!' mLasured ai amortlSLd cosl using the e*Tective inierLS1 meihod. 1¢55 PTovisiun f<)r impairmeni. A prO￿ls1Oll for ih¢ itnpairtneni ol'iradc dcbtors is esiablishcd 14.hen ihere 15 obj¢iiii'L' Lvidence Ihai ihc Cliarit), H'ill nol bc ablL 10 collcct all amounts du¢ a¢Lordin2 10 lh¢ origsnal t¢m)s ofthe recei%'able5. Cash find cash equivalents Cash and ca%h equivalcnis compri5c cash on hand and call dcposiis, and oth¢T sh(In.lemi hi¥hl%. liquid inv¥sim¢nls Ihat arc rbadily conv¥rtibl¢ ¢0 d knoiin amount of cash and air 5ubjecl lo 20 insignifiLani risk ofchang¢ in Tralue. Trade trtdliors Trade crediiors arc obligaiions io pa) lor goods or sernice5 Ihai have been acquired in Ihe ordinary cour5c of ￿￿51￿¢55 fri?m 5upplier5. Acc()unlS payable arc cla5Eificd a5 rurreni liabilities if thc Charity docs not ha¥'e an unconditional righi, ai the cnd of ihc reporting p¥rii)d. to ijefer seitlumeni of the crediti)r fvr dt le￿1 i1￿¢1v￿ rnonih5 atter the reporting dale. If th¢r¢ is dn unLondiiional righi io d¢f¢r settl¢inenl IUT al ILasi iwLlI'e months after ihe r¢pvrting ddt¢, Ih¢y are presL'rtied as non-current liabilitl¢5. Trade erediLors are rccogniscd initially ai the trJnsacLion price and sUb￿qUentIY measured at amort2sed c05t using lh¢ eff¢ctiv¢ inier¢sl method. Borrowlfftgs Inieresi-bearing borroivings are initiallv r¢cord¢d at fair vliluL', rtei ol. Iransaciion costs. IDi¢rcsi-bLaring borrowir aTL %ub5cquenilw carried at amoniscd cost. w'iih Ihl ditTer¢ncL beli￿Cen (he PToccLds. nei ol. Iran&￿tiOn costs. and the am(>uni duc on rcdLmplion bcing reLognised as a charge io IhL Sialemenl of F illiinci41 ALliViiiLS over Ihe period ol- Ihe r¢l¢vant borrowing. Inieresi LXPLnse is recognised on thc ba515 of the effeilive inieresi method and 15 included in inierest paj'able a￿d similar charge5. Borroivings ar¢ Cl￿SIr1¢d a5 ¢vrreni liahilities EJnles5 thc ChaTLty has an uncondition21 riEhi io dcter 5eiilcmen¢ of the liabilily for ai le&st Ntli'e months aftLr Ihe reportinby dale. Fulld structure lJnresiriLtLd ineomc funds arn g¢n¢T?I furtds thai are available for us¢ ai ih¢ trustees discretion in furtherancc of the objectives ol'ih¢ Iharily. R¢5tri¢t¢d income fundb are those donated for use in a particular area or for specitjc purp05¢s, the us¢ of which is rLstricicd to ihal arca or pury)0sc. Page 18 Non5uch Theatre Limited Notes to tbe Financial Statemellt5 for the Yeir Ended 31 March 2024 Pt11510115 othcr p05t rttir¢m¢nt obliK•tlon$ -I'lii C'li4irii) opLraiLs J dLlinLd iontribuiiiiii pLnsi(In 5rhcme whi¢h 1$ a p¢n$ion plan Under which fixed oniribulioiJs arc puid iiilci a p¥n.%ion lurtd and Ihe C'hariiv ha% ni) legal Iir constNciivL obliguiiiin Iv pdy fuTth¢T cciniribuiii)ns even il'ihL fund doLs not hold sullicilni ll55ets ¢0 pav all ¢mploy¢¢s Ih¢ b¢n¥fii$ r¥laiin8 10 ernplil>'¢L %erviLe in IhL ¢urr¥iil diid priur PLriods. ConlTibulions io dcfincd coniribuiion plun% ur¢ r¢¢Diinis¢d in ihe Siaiemeni of Financial Aclivilics when ihc> ore due. Il'cDniTibuiion paynieiils exL¢Ld tliu contribulion duL lor servir¢, IhL Lx¢4SS is re¥osinisLd as a prepayrneni. liistrum¢nls Cla&.fiJi¢'iiilfJll l-'IlldllLiJI JS4¥1¥ linJn¢ial liobiliiiL8 ar¢ recognised when the Chwilv b¢Lom¥S a party 10 ih¢ coniraLIU41 l.'inan¢ial li(tbilitl¥S (Ind 10.261 133 16.094 4,747 2.889 2S.4311 10,261 -1.166 3.783 960 4,733 2,323 3.166 3,783 goo 4,733 2.323 Pagc21 Nonsucb Theatre Limited Notes to the FinanciMI Statements for the Year Ended 31 March 2024 Unrt5tricttd runds G¢ncr#l R¢stri¢ttd funds Total 2024 LiLence and subKripiions C'l¢aning sLThices -I'rav¢lling ¢XP¥ns¢5 Adycnising & Markciing ni¢rtdinm¥ni Cansuliing l.egiil expen%Ls ank charg¢s ini¥r¢si l)LpNciaiiiin Staff ¢o$is 1.05s (kn disposul of PTop¢rly impniv¢m¢ni3 2,175 3.764 4,725 5,924 755 8,000 1,217 14.962 1.201 107.42U 79,1)411 411 2,223 3.764 4,838 7,976 755 13,500 1,217 14.962 2.052 5,500 )6.714 25.942 204.134 In5.X90 J40.944 146,596 487.540 Unrestricted funds C¢ii¢r#l R¢51rleied 'rotAI 2023 Li)Inmunty & 4￿U¢&I10￿ Plrfomiance and L%'enlS Rate8 and iYal¢T RLnl l.iKht and heal In%uran¢¢ RLpairs aiid mainlcnane¢ l ¥l¢phone & Iniernei l)Ific¢ cxpcn5CS Compuicr and softwarc Printing und stulionary LiLence dnd subscripiions (icncral cxpLns¢S Cl¢dning seThiLes -I'ravcllin8 cxpcnsc5 Advertising & Markeiing l.iiiLrtainm¥nt Cunsuliiiig l.¢gJl exp¢nies Ilank chargLs and it)ier¢si DLpr¢ciation 1,629 36.307 1,13U 28.OlX> 13,IW 6,1611 585 5,587 972 13,909 3,217 3,593 702 732 8.600 2.-361 44.907 2¥,000 13.1951 6,168 585 5,587 972 37 3,254 3,593 702 4.668 869 2.11111 296 5,500 1,525 14.07.7 25.661 4,668 60 2,818 296 5,500 1,525 14,073 22.403 809 3.258 Page 22 Nonsuch Theatre Limited Notes to the Finan¢ial Statemeots for the Year Ended 31 March 2024 Vllres¢r5tted rujjds Geiieral Restricted fuDd5 Total 2023 Siaff cosis 149,150 210.671 74,957 390,448 In addilion tci th¢ cxp¢ndiiure analiSLd abowc, tlicrc ar¢ alsu guvemance cosis of £3,525 12023 - £3.5101 which rL'laiL diriLily 10 char&iablL aciivilirs. S¢¢ noi¢ 10 for further d¢idils. 10 Athalysls of governance and support ¢ost5 Govtrnance cost5 Unr¢stri¢i¢d funds Ccntr¥l Total furbds IndepLndLnt cxaminer fees F.xaminalion i)t'the tinancial %tatcrnents 3.525 3.525 Total for 2024 3.525 3,525 l-oial for 2023 3.ilo 3.510 I l rntt in¢omin%ltbuigolng rtsourcts NL4t ouigoiiig rcsourccs for thc yLar include.. 2024 2023 Depreciation of li%ed assits 1,201 25,660 12 Trustce5 remuneration and ¢xp¢n5¢5 No iruSlLes. nor any p¢rsonb i¥nnLLILd iyiih Ihem, have receivid any remunerniion Irom ihe Charity durin8 Ihe year. 13 Staff costs ThL' ag¥rL'gaiL payroll costs were as follows.. Pag¢ 23 Nonsuch Theatre Limited Note5 to the Financial Statements for the Year Ended 31 March 2024 2024 2023 Statf Costs during the year w¢rc= WaELS and salarics Social securilv eOSIS Pension cosis OihLr stalT¢osts 191.638 8,529 3,482 4%5 196.337 9,759 3,614 961 204.134 210.671 No employee r¢¢eived emolumenLS of more ihan £6fl.(K)O during the year. 14 Taxation The ChaTit)' is a ffgistered charity and is therefore cxempt from ￿xatIOn. IS Tangible filed i$set$ Land and buildin8$ Furniture and tquipment Total Cost At I April 2023 Addilii)ns Disposals 188.379 44.682 233,061 279 279 130,5801 {218,9591 188,3791 Ai 31 March 2024 14,381 14,381 D¢prcci8tioD At l April 21123 Ch9rgc for Ihe vear l-'lirninatcd on disposals 66,160 35.132 -202 123,1751 101,292 1.202 189,3i51 166.1601 At 31 MaTch 2024 13.159 13,159 Net book value At 31 Marcli 2024 -222 .222 At 31 m￿Lh 2023 122,219 9,550 131,769 Includcd iiithin ihc ncl book value of and buildings above is £Nil12023 - £liill in rcspcct of fT¢ehold land and buildings and £Nil 12023- £122,219) in respect of leascholds. Page 24 NonJuch Theatre Limited Notes to the Fillan¢i¥l St*¢ements for the Year Ended 31 M4rch 2024 16 Fixed xsstt investments 2024 2023 Shares in gTOUP undertakings Ind participaiing iniercsts Sh*rt8 In group und¢rt*kinzs and p*rtlcip#tini interest5 Subsldl*ry undertskinv Cost Ai l April 2Q23 At 31 March 2024 Net book vilwt Al 31 MdfLh 2024 Ai 31 2023 Dtt8llJ of undtrtaklnv DL•iai15 01'ih¢ ini'e5thi¢nis itt wht¢h the Chariiy holth 21Ph or more ofthe nominal value of any class of shar¢ eapiiol Country of lthcorpomilon Proportlott of Vollnz rlghts Printli)41 •nd 5h*Ms held #rtlvlty [Indert#kln£ HoldlDK 1024 2023 Sub51dl•ry undtrt*klJgs Non$u¢b Studios Trading l.ld Engl8nd & Wal OrdÉnorv Durniani 17 Stock 2024 2023 S¢Dcks 2,330 Pagc 25 Nonsuch Theatre Limited Notes to the Financial Ststements forlbe Year EDded 31 March 2024 18 Debtors 2024 2023 Trade debtors Prep2vmenis AccTu¢d irtcome VAT r¢co¥¢rabl¢ 24.775 2,341 5.952 i.356 17.988 5.306 60.750 15.4241 36.424 78.620 19 C#$h and tash tquivalents 2024 2023 C&sh on hand Cash ai bank 21K> 200 21.900 283 22.100 20 Creditors: amount5 f¥lling due within ont ytxr 2024 2023 Bank loans l-rade creditors Other ￿atiOn and social Security l)Ihcr creditors AccnLals D¢ferTd income 24.676 44,130 9.461 13.244 1.851 5.000 24.159 57.207 12,232 4,441 39.588 36.950 98.362 174.577 21 Creditors.. glllollllts f8lling dut after one year 2024 2023 Bank loans 85.595 99.759 22 Ptllsion other s¢heme5 Defined ¢ontribution pensioD $¢hemt The Chari1> oplrdtes a defined con￿bull0￿ pension scheme. The pension rost charge for th¢ year Tepre5en contribution5 pl￿&ble bi. the Charii%' io the schcrne and amourtted to £3.48212023 - £3.6141. Page 26 Nonsuch Theatre Limited Notes to the Fingncial Statements for the Year Ended 31 March 2024 23 Fund$ ltt¢oming r¢$ourct$ Re$ourrtS expended BAIAn¢e Ai 31 Mllrch 2014 Aprll 2023 Unr¢strlr¢cd funds GeMero71 268.759 1363,QlOI 117S,8021 Restricted fund5 25,5QD {25,SUOI (18,035) 18,035 Iii%pir¥ Luliural ILdmin8 & lihrarics I'huini1S l.'arr Chuiriy 'rhi hiriiJuy¢ lait¢ry fund Cintri SiuuL lund AC'I.. AudiLnLc Dcvilopmeni Puii¢hdrunk. lund Culiural r¢cov¢ry lund 14,1100} 200 52.500 9,275 20,511U 132.00a1 3.200 25.()42 13.2001 125.9421 Tolsil rc51rlrt¢d 42,035 134,142 29,775 To¢01 fund 139,5161 403.101 1509.(112 114(),027 l)dg¢ 27 Nonsuch Thealre Limited Not￿ to the Finan¢i¥l StAtemcnts for the Year Ended 31 March 2024 IncomiDg resourtts Rt$ourcts expended Balance at JI M*rch 2023 ApTiI 2022 UnrestTl¢ted fund5 GeNerrtl G¢neral fund 16,187 237.537 1335,2751 Regtricted LuliurAI r¢¢iivary fund Granis 10 purchasL assLits. eic Mighty creatives Holida> aciiviiy fund Inspirc cultural liarning & librarie3 Thonias l.'aiT Chuirty The hLriio¥L, 10llLry lund 44.356 3,258 17,166 144,-7561 13,2581 18.035 111.IX)D 4.1>00 10,000 10,Iiix> 10.000 Tot&1 restricted lundi 42,035 Total funds 355,682 ￿4￿] 3851 3Y,516 24 An*lysls of ntt #Jsels betwten funds Unrt5trlrttd ruThd5 General 'rotMI funds 1¢ JI M*r¢h Z024 Re5tricttd Tangible lixed assets Progbrammi N.laivd invcslm&nlS C'urrn'ni Js8LblS 1.222 1.222 6,931 198.3611 18S,5951 29.775 36.706 Cr¢diior5 OVCT l year 185.5Y51 Total net a5SCIS 1175.8021 29,775 1146.0271 Pag¢ 28 Nonsuch Theatre Limited Notes ¢0 ihe FiDan¢ial Statement5 for the Year Ended 31 Marcb 2024 Unresiricted fund5 C¢n¢ro1 Tot*1 fund5 at 31 MArch 2023 R￿trIct¢d funds Tangible lixed dssets. IJrts¥ramin¥ rclaiLd in%'eslillcnt5 CurrL'nl {￿SLI$ 131.768 131.768 13.297 1126.X5111 199,7591 95,177 153.1421 IU8.474 I I Xu,￿OI 11)9.75V)I CrLdilurs over l >'ear Toial nct asscls 42,035 IS Rtlllltd pArty trAnsficllons I'h¢r¢ wLre no rclut¢d party iransa¢tinns in ihe year. Pagc 29