Charity reglstratlon numb¥r 1206822 (England and Walasl CIDERMILL THEATRE TRUST ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025
CIDERMILL THEATRE TRUST LEGAL AND ADMINISTRATIVE INFORMATION Trust• Mrs S Steele Mr5 D Lodge Mrs B Grègory Mr G Barrett Mr D Gale Mrs J J8mes Mrs M Ja¢kson Mr M Pleasance (Appointed 6 November 20241 (Appointed 6 Novèmber 20241 (Appointed 6 November 20241 (Appointed 6 Novernber 20241 (Appointed 6 Novernber 20241 (Appointed 24 March 20251 (Appointed 28 January 20251 Charity number IEngland and Wales) 1206822 Prlnclpal addréss Cidemiill Lane Chipping Campden Glouce51er5hire GL55 6HU Auditor CKCA Lirnited No 4 Castle Court 2 Castlegate Way Dudley West Midlands DY1 4RH
CIDERMILL THEATRE TRUST CONTENTS Pag• Trvstees, report Statament of trustees, re5ponsibililies Independent auditof s report 7-10 Stslemenl of financial activities Balance sheet 12 Notes lo the financial statements 13-21
CIDERMILL THEATRE TRUST TRUSTEES. REPORT FOR THE YEAR ENDED 31 AUGUST 2025 The trustèes present their annual r6port and financial stslernents for the year ended 31 August 2025. The financial 51alernenls have been prepared in accordan with the accounting policies set out in note 1 to the Inancial statements and comply wf(h the charity's constitution, the Charities Act 2011 and AccoLJnting and Reporting by Charities.. Statement of Recommended Practice applicable to charits'es preparing their accounts i accordance with the Financial Reporting Stsndard applicablè in the UK and Republi¢ of Ireland IFRS 1021" (effective 1 January 20191. Objectives and activities The purpose of the ¢harity is the advancemeril of performance art for the public benefit al amateur and professional level, in particular by the provision of perf0mlan arts facilities for the students of Chipping Campden School and the inhabilanls of Chipping Campden and the surrounding area. Public benefit The trustees have paid due regard to guidance issued by the Charity Commission in do¢iding what actiwlies the charity should undertake. The Cideirnill Thèatrè stands out within the region for ils dislinclive dual-use model. serving both as a school facility for Ghipping Cempden School ICGSI students and as a community resource open to local residents and Insitors. This unique arrangement ha5 brought about considerable public benefit, as demonstrated by stakeholdèr fèèdba¢k. which highlights the positive impact across a wide range of performing arts events hosted at the venuè. A¢hievem•nts and p•rfomiane During the academic year 2024- 25 the Cidermill Theatre Tnjst celebrated several significant accomplishments. The Theatre delivered a much-enhancèd programmé of Èvenl$. broadening ts cUra1 offer lo the school and wider public community, and developing an outrèach progiamme. Among its achievements, the Theatre was selecled as a national finalist for the Royal Institution of Chartered Surveyors IRICSI Award, in the Community Benefit category, r8fleeting its contribution to the local are8. The Final RICS Awards Ceremony look place in London in October 2025, w((h the Cidemiill prominently featured. We were honoured lo participate. During 2024-25, a period of restructuring occurred, which induded changes lo key stsff. A new Operations Manager was appointed by the Trustèes togèthèr with a SeniorTechnical Manager who is employed by the School. The Trustee body was expanded in 2025 to incorporate additional areas of expertise in financ8. marketing and programming,. posrtively influencing the strategy and dirèction of thè théatrè.
CIDERMILL THEATRE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Financial review Total income for the year was £298,63812024.' period £107,8771 and total expenditure was £375,925. The financial period 2024 -25 has seen a strong irnprovemenl in performance frtsm 2023 - 24 following the restructuring, a focus on events, and careful expenditure. The Trust's strategic focu5 during this lirne was on curating a well-considered prograrnrne of events. This in¢luded a varièty tsf professional productions, screenings of National Theatre Live and Royal Opera House pèrformance5. as well as 5econd-run cinema screenings. Although the programme succeeded in delivering a culturally rich experience lo the comrnunity, the Trust recognisès that there is scope lo improve trading pèrfortnance based on the review ol each production's outcomès. Musi¢ and Dance events have featured prominently. as w811 as a very successful Conversation with series. The Theatre is regularly hired lo local oiganisalions for talks, screenings, awards evenings, dan and music events. The Tru51 works closely with local organisations to promote Lileralure, Plays and Music Festivals. The Trust notes that the programme has provided a culturally diverse offering to the local comrnunity and identifies opportunitiès foi further improvement in trading performance. There have been no significant evènl$ requiring disdosure in the period. The Cidermill Theatre has made a valuable and positive contribution Its both the students of Chipping Campden School Academy and the broader community. The theatrè's defi¢il and cash flows are supported by the school's r05erves. as the school is the ultimate parent entity of thè Trust. This arrangement aligns with the inlellded dua purpose function of the Cidemiill Theatre, sèNing as both an educational and community facility. R&s&S ptrli¢y It is the policy of the ¢hority that unre51ricted funds which have not been designated for a specific use should be maintainèd at a level equivalent to beMeen three and six month's expenttilure. The trustees consider that reserves at this level will ensure that, in the event of a significant drop in funding. they will be able to continue the charity, current activities while consideration is given to ways in which additional funds may b6 r8*sed. This level of reserves ha5 been maintained throughout the year. Plans for future periods The Trust plans lo continue offering the programme of events dgscribed above while also proactively exploring additional u5e5 of the Theatre building. Current opportunities under consideration include both catered and non-catered event hire, as well as fijrther development of live music performances, second release cinema screenings. and a comedy club. During this period, live music, the Conversation with series, and pantomime have produ¢ed the greatest commercial revenue for the Theatre. The current plan 15 to concentrate efforts on continuèd prornolion of these activities. The Trust aims to engage with local musiaans and prode a plaffoirn for emerging talent to be showcased. The Trust intends lo collaborate with a Youth Theatre group to establish a regular programme and support ils outre8ch activitie5. In the summer of 2026, as part of Community outreach efforts, the Theatre and the School will serve as the hub for the biennial Town Twinning events trom 14th to 18th August 2026. There are plans to develop this inb an annual summer festival wrth a focus on youth and families, incorporating the biennial Town Twinning visits as an additional ornponenl. The programme may also includè youth theatre workshops. Structur•. govemance and management The Cidermill Theatre Tru51 is a Charitable Incorporated Organisation governed by it's Conslitution document. 11 is règistered a5 a charity with the Charrty Commission. Mernbership of the CIO is open to anyone who is illteTesled in furthering 115 purposes. There is currently only 1 member, Ghipping Campden School. a charitable company. The member has no liability to ¢¢nlribule lo Ils assets in the event of the CIO winding up.
CIDERMILL THEATRE TRUST TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 The trustees who served during the year and up to the date of signature of the financial statements were.. Mr P Jackson IResigned 24 March 20251 MrA J Sunderfand IResigned 5 November 20241 Mr$ S Steele Mr G M Burton Mrs D Lodge Mrs B Gregory Mr G Barrett Mr D Gale Mrs J James Mrs M Jackson Mr M Pleasance Mr D J Q Greenwell IResigned 5 November 20241 IAppointed 6 November 20241 (Appointed 6 Novemb&r 20241 IAppointed 6 November 20241 (Appointed 6 November 20241 (Appointed 6 November 20241 (Appointed 24 March 20251 IAppoint8d 28 January 20251 (Appointed 28 January 2025 and resigned 3 November 2025} Rectuitment ancl aPpntM&t ortwslees As the Cidermill Theat Trust develops. there will be the requirement to expand the number ol Nominated Truste6s. This pro55 is driven by the Trustees Skills Audit. Posts a advertised and a full selection process followed to ensure that appropriate personnel are recruited, iTFline with the Trustees Skills Audit. Organisational sttucture The board of trustees, which can have up to 8 members13 elected Iruslees and 5 nominated Irusteesl, administers the charity, and the board normally meets 6 times annually. An Operations Manager is appointed by thè Trustees to manage the day to day operations of the charity. To farililate effective operations. the Operation5 Manager has delegated authtsrity, within tèms of delegation approved by the Trustees, for operational matters induding finance. employment and attisli¢ performance related activity. A Senior T&chnical Manager is èmployad by the School. A Marketing Con5ullanl is engaged lo work on slralegie5 to promote the theatre across many channeb. an81y5e the performance ol events, and provide input to future direction. Remuner&tt"on pglffcy Thè pay of the senior staff is rèviewed annually and normally increased in accordance with average earnings.
CIDERMILL THEATRE TRUST TRUSTEES. REPORT {CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 othermatte In-line with the Charitie5 Commission, the Cidemiill Theatre Tru$l 1$ structured as follows.. 3- Elected TtU51ee5 Mrs D Lodge Ichairpersonl Mr G Barrett (Vice Chairperson and Trustee of CCS) Mrs B Gregory 5- Nominated TTUStees Mr D Gale Ms J James Mr M Pleasance Mr D Greenwell Icurrently stood downl Mrs M Jackson In addition to thé abové. al 811 ft>rmal meetings, the following are in attendance.. Mr P Jackson (Chief Operations and Finance Officer al CCS) Meetings of the Ciderrnill Theatre Tru51 are held six times annually. Sub Cornmittee Meeting5 are hdd regularfy.. Marketing.. Finance.. Programming.. Operations Risk management The trustees have a risk management strategy which comprises.. An 8nnu81 review of the principal risks and uncertainlies that the charity faces The establishment of policies, systems and procèdures lo mrtigate those risks identified in th6 annual VIeW The implemenlalion of procedures designed to rninimise or manage any potential impact on the charity should thosè risks materialise. Financial sustsinability 15 the major financial risk for the charity. The risk is being managed by support from Chipping Campden School as the ullirnate parent undertaking. A key elément In the management of financial risk is a regLJlar review of the performance of all events hosted by thè Cidermill Theatre which has now been embedded in the meetings of the goveming bodies ol both the CIO and Chipping Campden School. Relationship Mth related partS None of our Iru51ees receive remuneration or other benefit from IheiT WOTk with the charity. Any connection btheèn Iruslee or senior manager of the charity with a productitsn cornpany, contracted actor, performer or exhibitor must be disclosed to the full board of trustees in thè same way as any other contractual relationship with a related party. Related party transaction5 are reported in note 18.
CIDERMILL THEATRE TRUST TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 AUGusf 2025 Auditor In accordance with the company's articles. a resolution proposing that CKCA Limited be reappointed as alsditor ol the company will be put at a General Meeting. Disc105ure of information to auditor Each of the trustees has confimed that there is no information of which thèy ar8 aware which is relèvant lo the audit, but of which the auditor is unawarè. Th6y hav& further eonfimed that they have taken appropiiale 51ep5 to identify such relevant information and to establish that the auditor is aware of such information. The trustees. report was approved by the Board of Trustees. MrsDLo Trustee 2 Oecember 2025
CIDERMILL THEATRE TRUST STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 AUGUST 2025 The trustees are responsible for pParIng the Ttuslees, Report and the financial slalemenls in accordance with applicable law and Unitèd Kingdom Acoounling Standards (United Kingdom Generally Accepted Accounting prad1). The law applicable to charities in England and Wales requires the trustees to prèpare fin8n¢ial stslernenls for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and applieation ol resources of the tharity for that year. In preparing these financial slalements, the trustees are required to.. select suitable accounting policies and then apply them consislenlly.. observe the methc)ds and principles in the Char((ie5 SORP.. make judgements and estimates that are reasonable and prudent., slate whelhei applicable accounting Standards have been followed, subject to any material departures disdosed and explained in the financial stalemenls., and prepare the financial slalements on the going concem basis unless it is inappropriate lo presume th81 the charity will continue in operation. The Iru51ees are responsible fLir keeping 5ufficAent accounting records that disclose with reasonable accuracy at 8ny time the financial position of the charity and enable them to ensure that the financial statements eomply with the Charities Act 2011, the Charity IAccounts and Reports) RegLJlations 2008 and the provisions of thè trust deed. They are also responsible for safeguarding the assets of the char(ty and hence for taking reasonable steps for the prevèntion and detection of fraud and other iiiegulaiilies.
CIDERMILL THEATRE TRUST INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF CIDERMILL THEATRE TRUST Opinion We have audited the financial statements of Cidermill Theatre Trust (thè 'charity'l for th& year ended 31 August 2025 which comprise the statement of financial activities, the balancé shèèt and notes lo the fin3naal slatemenls, in¢luding significant accounting policies. The financial repotting framework that has been applied in their preparation Is applicable law and United Kingdom Accounting Standards. induding FinancAaS Reporting Standard 102 The Financial Repothng Standaffd applicable in the UK and R8publiG of Ireland (United Kingdom Generally Accepted Accounting Practice}. In our opinion, the finanaal statements.. give a true and fair view of the state of the charity's affairs as at 31 Au9USt 2025 and of its incoming resources and application ol resources, for the year then endèd", have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practi." and have been prepared in accordance with the Charities Act 2011. Basi$ for oplnlon We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are furthèr desGribed in the Audilorfs responsibili1195 for the audit ol thfj fAnancNal statèm&nts section of our report. We are Independent of the charity in accordance with the ethical Tequirernenls that are relevant to our audit of the financial slalemenls in the UK, including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate lo prowde a basis for our opinion. Concluslons Nlatlng to golng concern In auditing the financjal statements. we have conduded that the trustees, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work w8 have pèrformad, we havè not identified any material uncertainties relating lo events or condition5 that, individually or wllectively. may ¢asl significant doubl on the charity's ability to continue as a going concern for a period of al least twelve month5 from when the finanoal staternents are authorised for issue. Our responsibilities and the responsibilities of Ihe trustees with respect to going concern are dos¢rib&d in the relevant sections of this report. Other information The other information wmpFises the infomation included in the annual report other than the finala1 statements and our auditor's report thereon. The trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and we do not express any forrn of assurants conclusion thereon. Our responsibility is to read the other information and, in doing so. consider whether the other information is materially inconsistent with the finanal slalemenls or our knowledge obtained in the oourse of the audit, or othénvisè appèars to be materially misstated. If we identify such material inconsistencies or apparent material mi55taternenls. we are required to determine whether this gives rlse to a materHI misstatement in the financial statements themselves. If. based on the work we have performed, we conclude that therè is a material misstatement of this other infomiation, we are requirèd to report that fact. We have nothing lo pOrt in this regard. Mattarn on whSch wè arn required to report by •xceptlon We have nothing to report in respect of the following matters in relatitsn to which thè Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion". the infomiation given in the financial slalements is inconsistent in any material respect wrth the Iruslees. port,. or sufficient accounting records have not been kept., or the financial 51aternenls are not in agreement with Ihe accounting records., or we have not received all the information and explanations we require for our audit.
CIDERMILL THEATRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CIDERMILL THEATRE TRUST RPonsibl11tieS of trusto•s As explained more fully in the statement of tiuslee5' responsibilities. the trustees are ie5ponsible for the pparatIon of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Iru5tees determine is necessary to enable the preparation of financial 5taternents that are flee from material misslalement, whether due to fraud or error. In preparing the financial slalements. the trLJStéès are responsible for assessing the charty's ability lo continue as a going concern. disclosing, as applicablè, matters related to going concern and using the going conrn basis of a¢wunling unless the trustees eithèi intend lo cease operations. or have no rèalistic allernalive but to do so. Auditorfs responslbilitie$ for the audit of th8 financlal statèments We have been appointed as auditor under section 144 of the Charities A¢t 2011 and report in aeeordance with the Act and relevant regulations made or hawng effect thereunder. Our objèctives are lo obtain reasonablè assuiance about whether the financial slalemenls as a whole arè free from material misslalement, whether due lo fraud or error, and to issue an auditorfs report that indudès our opillion. Reasonable assurance is 8 high level of assurance but is not a gijaranlee that an audit condu¢ted in accordance with ISAS IUKI will always delecl a rnaterial misststement whÉn il exi51s. Misstatements Can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influenee the economi¢ decisions of users taken on tho basis of these financial statements. The extent lo which our procedure5 are capable of detecting irrègularities. including fraud. is dètsiled below. Extènt to which the audit was consld•rèd capable of detecting irrngularftlès. In¢luding fraud We identified and assessed the risks of material misststemenl of the financial siatements. in respect of irregularities whether due to fraud or error, or non compliance with laws and regulations and then designed and performed audit procedurès responsive lo those risks, including obtaining audit evidence that is sufficient and appropriate lo prowde a basis ft>r our opinion. In identifying and assèssing risk5 of material misstatement in respect of irregularities, including fraud and non- compliance with laws and iegulalions, our procedures included the following.. We obtained an undeislanding of the legal and règul31ory frameworks that are applioable lo the Charity by discussion and enquiry with the trustees and managernenl learn and our general knowledge and experience of the th8atre and drama sector. We focused on spètyfic laws and regulats'ons which we considered may have a direct m*erial effect on the financial statemènts or the operations of the company, induding the Charits'es SORP, production licensing regulations, employment, and health and safety legi51alion., We a55essed the extent of compliance with the laws and regulations idenlrfied above through m3knng enquiries of rnanagernent and reviewing other relevant information.
CIDERMILL THEATRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CIDERMILL THEATRE TRUST Audit re$pens8 to rlsks identified Wè assessed the susceptibility of the Charity's financi81 slalèmènts to material misstatement, including how fraud might occur. Audit procedures performed included but were not Iirnited to.. Discussions with Irustees and management as lo where they ¢tsnsidered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud., Confirming our understanding of controls by performing a walk through le51 or observation and enquiry., Performing analytical procèdurès to identify any unusual or unexpected relationships.. Challenging assutnplions and iudgemenls made by management in its significant accounting e51irnales'. Identifying and testing joumal entries.. Reviewing unusual or unexpected transactions.. and Agreeing the financial statement disclosures to underlying Supporting documentation. Owing lo the inherènt limitations of an audit, there is an unavoidable risk that we may not have detècted some material rnisslalement5 in thè financial statèmènts, even though we have property planned and performed Qui audit in accordance with auditing stsndards. The mole removed that laws and regulations are frorn financial Iran58clion5. thè less likely il Is that we would become aware of non-compliance. Audrting standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other manageFnent and the inspection of regulatory and legal correspondenoe. if any. Material misstatements that arise due to fraud can be harder lo detect than thosè that arise from error as they may involve deliberatè concealment or collusion. A further description of our re5ponsibililies is available on the Financial Reporting Council's website al.. https'.11 www.frc.org.uklauditorsrespon5ibililies. This description forms part ol our auditorfs report. othèr matters Your attention is drawn lo the fa that the charity has prepared financial statements in accordan with 'Acoounling and Reporting by Charities.. Slalemenl of Recornmended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in thè UK and Republic of Ireland {FRS 1021 las amended) in preference to the Accounting and Reporting by Charities.. Statement of Recommended Practice issued on 1 April 2005 which is referred to in the extant regulations bul has now been withdrawn. This has been done in order for the financial slalements to provide a true and fair view in accordance with current Gènerally Accepted Accounting Practice. Use of our rèport This report is made solely to the charity's trustees, as a body, in accordance with Part 4 01 the Charities IAccounts and Reportsl Regulations 2Q08. Our audit work has been undertaken so that we might state to the charity's trustees those matters we ale required to state to them in an auditor's report and for no olhei purpose. To the fullest extént permitted by law, we do not accept or assutne 18sponsibility to anyone other than the charity and the charrty's trusteès as a body, for our audit work, for thi5 report, or foi the opinions we have formed.
CIDERMILL THEATRE TRUST INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF CIDERMILL THEATRE TRUST CK Audlt 2 December 2025 Chartèrèd Accountants Statutory Auditor No 4 Castle Court 2 Castlegat& Way Dudley We51 Midlands DY14RH CKCA Limited is eligible for appointment a5 auditor of the charity by virtue of its eligibility for appointment as auditor of a company und6r section 1212 oflhe Companies Act 2006. 10-
CIDERMILL THEATRE TRUST STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 AUGUST 2025 Unrestricted funds 202S Restrl¢tsd funds 2025 Totsl Unr•strlct8d funds 2024 2025 Notes Income from: Donations and legacies Charitable adiviti&s 8,822 261.757 28,059 36.881 261.757 778 107.099 Totsl income 270,579 28,059 298,638 107,877 Expenditure on: Raising funds Charitable actiwties 28.0 297,315 28.096 325,374 13,288 166,568 28,059 Totsl expenditure 325,411 28,059 353.470 179.856 Nèt 8xpendltyJre and movement in funds 154,8321 154,8321 171.9791 Reconciliation of fund$= Fund balanees at 1 SÈptÈmb6r 2024 171,9791 171.9791 Fund balances at 31 August 2025 1126,8111 1126,8111 171,9791 The statement of finanual activities includes all gain5 and losses re¢ognised in the year. All income and expenditure derive from continuing activities.
CIDERMILL THEATRE TRUST BALANCE SHEET AS AT31 AUGusf2025 2025 2024 Nots$ Current assets Slod(s Debtors Cash al bank and in hand 11 12 2,469 1Q,287 18,240 2,175 2,752 9,073 30,976 14.000 CreditOTS: amounts falling du• wlthin one year 13 1157.78n 185,9791 Nèt eurr¢nt liabilities 1126.8111 171,9791 The funds of the charfty Unresliicled funds 16 1126,811) 171,9791 1126,8111 {71,9791 Thè finaneAal slalements were approved by the trustees on 2 Decembèr 2025 Mrs D Lodge Trust88 12
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2025 Accounting poli¢ie$ Charity inforniation Cidermill Theatre Trust is a Charity governed by a trust deed approved by the Charity Comrnission. 1.1 Rèportlng p•rlod The charity was registered with the Charity Commission 01 February 2024. The comparativè period ol accounts were prepared up lo 31 August 2024 to fall in line with the rest of the group. rlleaning Ih8t the comparative accounting period is le55 than 12 months. As a rèsult, the comparats've figures are not neces58rily Comparable with the 12 month period for the rrent a¢ix)unting yèaf. 1.2 Basis of preparation The financial Statements have been prepared in accordance with the charity's trust déeds, the Charities Act 2011. FRS 102 'The Finanaal Reporting Standard applicable in the UK and Republic of Irèland. I'FRS 102,1 and the Charities SORP Accounting and Reporting by Charities.. Statement of Recommendéd Practi applicable to charities preparing thèir accounts in accordan with the Financial Reporting Standard applicable in the UK and Republic of Ir&land IFRS 1021" (effective 1 January 20191. The charity is a Public Benefit Entity as defined by FRS 102. The charity has tskèn advantage of the provisions in the SORP for charities not lo prspare a Statanent of Cash Flows. The financial statements have departed from thè Charities (Accounts and Reports) Regulations 2008 onty lo the extent required to provide a true and fair view. This dèparturè has involved following the Statement of Recomrnended Practice for charities applying FRS 102 rather than the version of the Statement of Recomrnended Practicé which is referred to in the Regulations bul which has since been withdrawn. The financial statements are prepared in sterfing, which is the functional currency of the tharity. Monetary amounts in th6se financial slalernen15 are rounded to the nearèst £. The financial stslements have been prepared under the historical cost convention. The principal accounting poIic4es adopted are sel out bel(>w. 1.3 Going ¢on¢om At thè timè of approving the financial slalemenls. the Ituslee5 have a reasonable expectation that the charity h85 adequate rèsources to continue in operational existence lor the foresee3ble future. Thus the trustees continue lo adopt the going concern basis of accounting in preparing the financial statements. Net current liabilities al the end of the period are £126,811, of this balance £68,320 is owed to other entities within the Chipping Campden School Group. The Cidèrmill Thèatrè Trust continues to provide a comrnunily facility for members of the local community and beyond. The Cideirnill Thèatre is a young facility and is exploiing a wide range of programming to identify the needs of the local area. Plan5 ale being prO9SSed to increase the commercial viability of the Cidermill Theatre Trust which will be done while balancing the need to protect the cultural offering lo the community. 1A Charltabla funds Unrestricted funds are availabl& for use at the discretion of the trustees in fvrtherance of their tharilablè objectives. Restricted funds are subject to specific Gondilions by donors or grantors as to how they may be used. The puiposès and uses of the restricted funds ale sel out in the notes lo the financial statements. Endowmènt funds are subject to specific conditions by donors that the ¢apitsl must be maintained by the charity. 13-
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST2025 Accounting poli¢1 IContinu•dl 1.5 Incomo Income is re¢ognised when the charity is legally enlilled to it after any perforrnance conditions have been mel, the amounts can be measured ieliably, and it IS Probable that incomè will be received. Cash donations are recognis8d on receipt. Other donations are recognised On the charity has been notified ol the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations re¢eived under GiftAid or deeds ol covènant is recognised at the lime of the donation. 1.6 Expenditure Expenditure is recognised once there is a lègal or constructive obligation to transfér economic ben&fil lo a third party, il is probable that a transfer of econornic benefits will be required in sèttlement, and the amount of the obligation can be rneasured reliably. Expenditure is classrfied by a¢tivity. The costs of each activity are mad8 up of the total of dIrt costs and sharèd costs. including supptsrt costs involved in undertaking each activity. Direct costs attributable to a single actiwly are allocated didIY lo that activity. Shared costs which contribute to more than one activity and 5UPPOrt costs which are not attributablè to a single activity are apportioned behvèèn those activitiès on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time Spent, and depreciation charges are allocatèd on the portion of the asset's use. 1.7 stocks stocks are stat8d al the lower of cost and estimat&d selling price less co$15 to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks lo their present location and condition. Item5 held for distribution at no or nomin81 consideration are measured the lowèr of replacement cost and oost. Nèt realisable value is the estimated selling price less all èstimated costs of completion and costs lo be incurreLf in rnarketing, selling and distribution. 1.8 Cash and cash equivalents Cash and cash equivalents include cash in hand, dÈposils held at call with banks, other short-lerm liquid investments with original matLJrities of three months 01 less, and bank overdrafts. Bank ovèidrafts are shown within borrowings in current li8bililies. 1.9 Financlal instruments The charity has elè¢led lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12 'Other Financial Inslrurnents Issues, of FRS 102 to all of ils finaricial instruments. Financial instruments ar8 recognised in the charity's balance sheet when the charity becomes party lo the contractual provisions of the instrument. Financial assets and liabilitiès are offset, with the nel arnounls presented in the finanaal stslements, when there 1$ 8 legally enforceable right lo set off the recognised amount$ and there is an inl&nlion lo settle on a nel basis or lo realise the asset and settle th8 liability simultaneously. Basle financial assets Basic financial as5els, which indude debtors and Cash and bank balances, are initially measured at transaction pri including transaction costs and are subsequently cairied al amortised cost using the effective inleiesl method unless the arrangement constitutes a finanojng transaction, where the transaction is measured at the present value of the future receipts diseounled at a market rate of interest. Financial assets classified as receivable within onè year are not amortised. 14-
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Accounting pollcles Icontlnuedl Basic financial liabilities Basic financial liabilities, including creditor5 and bank loans are initially recogni5ed al transaetion price unless the arrangement constitutes a financing transaction. whera the debt instrument is measured al thè present value of the future payments discounted at a market rale of interést. Financial liabilities cJa55ified as payable within one year are not amortised. Debt instruments are subsequently carrièd at amortised cost, using the effeclivtr interest rate method. Trade creditors are obligations to pay for goods or strtvices that have been acquired in the ordinary course of operations from suppliers. Amounls payable are classified as current liabililies if payment is dLJe within one year or less. 11 not. they are presented as non-currenl liabilities. Trade creditors are recognised initially al transaction price and subsequently measured at amortlsed cost Using the effective interest rnethod. Derecognltion of flnancial liabilities Financi81 liabilities are derecognised when the ¢harty's contractual obligations expire or are discharged or cancelled. 1.10 Employee benefits The cost of any unLJsed holiday enlillement is recogni5ed in thè period in which the employee's senric8s are received. Tèrmination benefits are recognised immediately as an expense when the charity is demonstrably comrnitted to terminate the employment of an employeè or to provide termination benerts. 1.11 Retirement benèfits Payments to defined contributs'on retirement benefit schemes are charged as an expense as they fall due. Incomè from donation$ and lègacles Unrestricted Rèstriet8d funds funds 2025 2025 Total Unrestri¢t¢d Rastrlcted funds funds 2024 2024 Total 2025 2024 Donations and gifts Membership fees 7.547 1,275 28,059 35,606 1,275 478 300 478 300 8,822 28,059 36,881 778 778 15-
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 Income from eharitable activities Unrestricted funds 2025 Unrestricted funds 2024 Theatrlcal pèrforniances Sale of tickets 232,738 97,581 Booklng and èxternal hire Sale of tickets 29,019 9,518 261,757 107,099 Expendltur¢ on raising funds Unrestricted unrtriCted funds funds 2025 2024 Fundraising and publicity OlheT fundraising costs 28,096 13,288 Expenditurè on ¢haritable activitlos Theatrical perfornianc•s 2025 Thèatriral performances 2024 Direct costs Staff costs Production Costs rickel offi Costs 63,950 161,997 371 51,800 63.154 226,318 114,954 Sharo of $upport and govemanco eo¥ts (see note 61 Support Govemance 94,2 4,800 47,214 4,400 325,374 166.568 Analys1$ by fund Unrestricted funds Restricted funds 297,315 28,OS9 166,568 325,374 166.568 16-
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Support costs allocated to a¢tivÉtie$ 202S 2024 Staff costs 23,717 11,379 3,500 1,301 5.130 35(1 455 8,285 2.103 425 8,392 5,894 4.400 Maintenance Cleaning Water Staff tiaining Advertising Support & Bought-in services Stationery IT Licences l ¢onsumablès Inler-company support Governance costs 753 27,672 5.715 168 11,392 24,839 4,800 99,056 51,614 Analys•d beoe. Theatrical performances 99.056 51,614 N•t movement in funds 2025 2024 The net movemant in funds is stated after chargingllcredilingl.. Fees payable for the audit of the charity's finan¢ial statements 4,800 4,400 TTu$tsos None ol the trustee5 (or any persons connected with Iheml received any iernuneralion or benefits from the charity during the year. EmployeeB The average monthty nurnber of employees during the year was.. 2025 Numb•r 2024 Numbar 17-
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI FOR THE YEAR ENDED 31 AUGUST 2025 Employees Icontinuedl Employment costs 2025 2024 Wages and salaries Social security costs Other pension costs 80,216 5,811 1,640 55,561 4,301 3,377 87,667 63,179 There were no amployees whose annual remun&ralion was more than £60.000. R•mvneration of key managèmènt personnel The rernuneialion of key managemènt personnel was as follows.. 2025 2024 Aggr8gate cornpensation 29,749 26,292 10 Taxation The charity is exernpl frorn taxation on its activities because all its in¢orne 15 applied for charitsble purposes. 11 Stocks 2025 2024 Finished goods and goods for resale 2,469 2.175 12 Dèbtors 2025 2024 Amounts falling due within one year.. Trade debtors Amtsunls owed by fellow groLJP undertakings P¥epaymenls and accrued income 3,915 4,322 2.030 125 2,627 10,267 2,752 18-
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 13 Cr•dltors: amounts falling due within one year 2025 2024 Notes Oeferred income Trade credrf(ors Amount owed lo paienl undertaking Amounts owed to fellow group undertakings Accruals 14 57,820 6,018 68,320 12,626 2,123 22,591 33,507 15,132 25,629 157.787 85,979 14 Deferred income 2025 2024 Other deferred income 57,820 12,626 Deferred income is induded in the financial statements as follows.. 2025 2024 Deferred income is induded wilhin_' Current liabilities 57,820 12,626 Movements in the year.. Deferred income at 1 September 2024 Released from previous periods Resources dele[d in thè yèar 12,626 {12,6261 57,820 12.626 Deferred income at 31 August 2025 57,820 12,626 16 R•tlr•mènt bènofit schemes 2025 2024 Defined contribution schemes Charge lo profit or loss in respect of defined contribution scheme5 1,640 3.317 The charity operates a defined ¢ontribulion pension scheme for all qualifying employees. The assets of the scherne are held separately from those of the ¢harity in an independenly administered fund. 19
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS {CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 16 Unre¥trictsd funds The unrestricted funds ofthe charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include dèsignated Ikjnds which hava baen sèt aside out of unrestricted funds by the trustees for sperAfic purposès. At1 September 2024 Incoming resources Resources At 31 August expended 202S Genèral funds 171,9791 270,579 1325.4111 1126,8111 Previous period.. At1 September 2023 Incoming resources Resources At 31 August expended 2024 General funds 107,877 {179,8561 171,9791 17 Operating lease commltments L*s$è• At the reporting end date tha charity had outstanding commitments for future minimum leasè paymènts LJnd8r non-¢an¢ell8ble operating leases. whlch fall due as follows.. 202S 2024 Wfithin onè year Beeen fv40 and five years 972 243 972 1,215 1,215 2,187 18 Relatsd party tran$a¢tlon$ Transactions with related parties During the year the charity entered into the following transactions wf(h related parties.. Recharged staff costs Utility costs and cleaning servlcès 2025 2025 2024 2024 Entities With control. joint contToI OT signific3nt inffuence over the company Other related parties 15,925 86,063 40,840 86,063 40,840 15,925 .20-
CIDERMILL THEATRE TRUST NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 AUGUST 2025 18 Related paity trdnsactlons (Continued) During the year the Trust purchased sundry goods lo the value of £24 from Mid(leton Hills Fami, a company ¢onlrolled by one of the TIu51ees. There were no balances outstanding between the Trust and Miekleton Hills Farm al the end of the year. 21