YVONNE ARNAUD THEATRE TRUST LIMITED (A COMPANY LIMITED BY GUARANTEE) Accounts for the Perlod 21 February 2024 to 31 March 2025 Registered No. 15510462 Reg55tered Charity No. 1208066 Page YVONNE ARNAUD THEATRE TRUST LIMITED Registered No. 15510462 Accounts for the Period Ended 31 March 2025 Contents Page Contents Reference and administrative details 34 Directors, reFKbrt 9-12 Auditors, report 13 Staternent of flnancial activities 14 Balance sheel 15 Statement of cash flows 16-27 Notes ta the accounts Page 2 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 1551(1462 Reference and admlnlstrative details Charity name: Yvonne Arnaud Theatre Trust Llmlted Charity number: 1208066 Registered (•ffice: Yvonne Amaud Theatre, Mlllbrook, Gulldford, Surw GUI 3UX Key management personnel Yvonne Avnaud Theat￿ Trust Llmlted: Directors The dlrertors and officers servlng during the period and sino the perfod end were as follow5: Mr Andrew French Mr Stephen Bampfylde Rev Dr Paul Glass Mr Michael More-molyneux Ms Jane Shepperd Chairrnan (appolnted 6 March 2024) (appointed 6 March 2024) (appointed 11 November 20241 (appointed 6 March 2024) lappointed 15 May 2024 Key management personnel of Yvonne Arnaud Theatre Trust Limited: Senlor stsff Director and Chlef Executive Dire¢tor of Flnance Mrs Joanna Read Mrs Sarah Gatward Our advisors Bankers: Barclays Bank pl¢ Woking Corporate Management Suite PO Box 673 Town Gate House Church Street East Woklng GU21 6AE Auditoys: TC Group The Courtyard. Shoreham Road, Upper Beeding Steynlng West Sussex 8N44 3TN Solicitor5: Stevens & Bolton LLP Wey House Farnham Road Guildford Surrey GUI 4YD Page 3 YVONNE ARNAUD THEATRE TRUST UMITED Registe￿d No. 15510462 Report of the D1￿CtOrS for the period ending 31 March 2025 The directors present their annual report together with the financial statements for the period ended 31 March 2025 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Memorandum and Articles of Association. and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191. Theat￿ Chaimian's Report TheYvonneArnaudTheatreTrustundertooka reviewofthecharity'sgovemance in iheyearto 31 March 2024. A decision was taken to register the unincorporated Yvonne Arnaud Theatre Trust as an incorporated charity limited by guarantee. The objects of the incorporated Yvonne Arnaud Theatre Trust will remain unchanged - to advance the arts for public benefit through the provision, maintenance and support of the Yvonne Arnaud Theatre. The main focus of the Trust thls perlod has been the delivery of the front of house renovation and refurbishment project. Intended to make the public areas of the building accessible and fit for purpose, for now and future generations, this six million pound projert is the first phase of a series of major capital renovations that the Trust intends to undertake over the next five years. phase one, which is due to complete in July 2025, includes installing a lift inside the building to serve all floors, provision of accessible toilets on the ground and third floors, conversion of an old bar to a community and education space and replacement and updating of original heating, lighting and plumbing systems. In preparation for the works, the Trust also actioned the replacement of the theatre's boilers. We are grateful to Surrey County Council and Your Fund Surrey for awarding the Trust £2.988 million in grant funding in 2024 towards the costs of the project. This support has made the project possible and enabled the Trust to launch their Play Your Part Campaign, to raise the remainder of the funds needed. The Trust welcomed new directors Jane Shepherd and Reverend Paul Glass to the Board in the year. I would like to thank my fellow directors for their hard work and support throughout the period, together with the Chief Executive Joanna Read and Finance Director Sarah Gatward, who are to be commended for their continued commitment and dedication to the theatre. Andrew French Chairman Page 4 YVONNE ARNAUD THEATRE TRusf UMITED Reglstered No. 15510462 Report of the Directors for the year endlng 31 March 2025 Our Object and Activitles Our Mission Our mission is to support the Yvonne Arnaud Theatre to produce and present vibrant, outstanding, entertaining drama for the public benefit. for the many communities of Surrey and the South-East. This will be through the maintenance and support of the Yvonne Arnaud Thealre buildings and through the provision of eiiher financial Of Other support to ensure the ongoing investment in and development of the Yvonne Arnaud Theatre. Public Benefit In shapin8 our objectives for the perlod and planning our activtties, the trustees have considered the Charity Commission's Euidante on public benefit, including the guidance 'public benefit.. running a charity IPB21" The theatre relies on grants and the income from fees and charges to cover its operating costs. Achievement5 and Perfomiance Estate This period has seen the improvement of the estate through the capital project to renovale the public areas of the theatre. Substantial work was undertaken in the front of house areas to address the lack of acces5, improve sustainability and energy saving and adapt f ront of house spaces to the changing needs of the general public and audiences. In particular, an internal lift has been installed to reach all floors of the building, accessible toilets built and rooms for community Use have been created. The projert team is led by architects Reed Watts Associates, cost consuFtants are Bristow and Cooper Withycombe have provide structural engineering advice. After a competitive tender process, RISE were appointed as the project contractors in June 2024. A separate project was undertaken to replace the old boilers at the start of summer 2024. Stoffing and Opemtions The Trust jointly employs both the Chief Executive and the Flnance Director with the Yvonne Arnaud Theatre Management company. The Chief Executive is responsible for the full executive management of the Trust and delivering their strategic objectives on behalf of the board. The Finance Director provides strategic financial administration for the company. Financial review The theatre reported a surplus in the period of £2,701,022, made up of £117,583 unrestrlcted surplus, £48,360 designated surplu5 and £2.535,079 restricted surplus. Investment powers ondpolicy The directors, having regard to the liquidity requirements of operating the theatre Trust throughout the refurbishment Wof ks, have kept available funds in a combination of instant access deposit accounts and flxed term deposit accounts. Although directors seek to achieve a rate on deposit that either matthes or exceeds the rate of inflation, this aim has not always been possible to achieve. At the period-end. the invested funds held on deposit achieved an average weighted rate of interest of 4.32%12024'. 5.00%}. Pag¢ S YVONNE ARNAUD THEATRE TRUST UMITED Reglstered No. 15510462 Report of the Directors for ihe period ending 31 March 2025 Reserves policy ond going concern ReseNes are needed to bridge the gap between the spending and receiving of income and to cover unplanned emergency repairs and other expenditure. The d1￿CtorS consider that the ideal level of reserves would enable the theatre to cover a twelve-month period of professional fees and overhead expenditure a5 a property-owning charity. As at 31 March 2025 this would be £170k. Taking into account the value of net book assets not covered by either restricted or designated reserves, the charitable company requires a balance of £522k to be maintained on unrestricted reseNes to ensure that it maintains a level of free reserve5 totalling £170k. As at 31 March 2025 the charitable company had a balance on unrestricted reserves of £525k. Plans for future perlod5 The Trustees anticipate thls phase of renovation will complete in August 2025. Future plans for the Theatre Trust include consideration of phase two of the capital refurbishment works. This will include the provision of a new roof for the theatre building, painting the exterior of the theatre building and refurbishment and improvement of the backstage areas. The Trust anticipates continuing its significant fundraising work in order to deliver these ambitions. SINrture, Governance and Management Governing document The Yvonne Arnaud Theaire Trust I"The Trust") (charity registration.. 2005(M)l is an unincorporated charity. established under a Trust Deed dated l May 1961. which launched the appeal which led to the building of the Yvonne Arnaud Theatre on the Millbrook site. The theatre eventually opened in 1965. The unincorporated Yvonne Arnaud Theat￿ Trust undertook a review of the charitls governance in the year to 31 March 2024. A decision was taken to register the unincorporated Yvonne Arnaud Theatre Trust as an incorporated charity limited by guarantee. The objects of the incorporated Yvonne ArnaLEd Theatre Trust will remain unchanged-to be responsible for the theatre building and to advance the arts for public benefit thmugh the provision, maintenance and support of the Yvonne Arnaud Theatre. The charitable company limited byguarantee was reglstered with Companies House on 21 February 2024 (company number= 155104621 and received Charity Commission approval with effect from 30 April 2024 under a new charity registration number (charity registration.. 12080661. An asset transfer agreement was completed, formally transferring all assets and liabilities from the old unincorporated YAT Trust {charity number: 2005001 to the new incorporated YAT Trust, with effect from l June 2024. Appointment of directors The charitable companrfs Articles of Association stipulate that there should be not less than five nor more than seven ordinary directors and shall include one director nominated by Yvonne Arnaud Theatre Management. In accordance with article 21, directors are appointed for a fixed term of three years but shall be eligible for reappointment for a further three-year term unless they have reached their maximum term of office. A director will have reached their maximum term of Offi￿ when they have served three consecutive terms of three years. Page 6 YVONNE ARNAUD THEATRE TRUST LIMITED Registered No. 15510462 Report of the Dlrectors forthe perlod ending 31 March 2025 All directors of Yvonne Arnaud Theatre Trust Limited are the only members of the charilable company. Membership is fKlt transferable and directors shall automatically cease to be members when they cease to be a director. The liability of members is limited to £1 each, being the amount that each member undertakes to contribute to the asset5 of the charity in the event of its being wound up whi15t the person is a member or within a year of the person ceasing to be a member. Director induction and troining New directors are recruited with the aim of ensuring that the balance of skills and experience held bv board members is maintained and relevant to the objectives of the charity. New directors are invited to participate in an induction process, which includes meeting with the Chlef Exeeutlve and Finance Director. Background papers. including business plans, key reports from funding bodies, and financial information are provided. Directors are also sent updates from the Charity Commission and a copy of the Good Trustee Guide. OrgrJnisotion The board of Yvonne Arnaud Theatre Trust Limited I'Trust"I meets quarterly. The Trust owns the theatre building which it leases to Yvonne Arnaud Theatre Management Limited I"Managemenfl who runs the theatre under the terms of the theatre's guiding principles. Yvonne Arnaud Theatre Management Limited I"Management"l is also a charitable company limited by guarantee. Responsibility for the day-to-day operations is vested in the Director and Chief Executive who is jointly appointed by the Board of Yvonne Arnaud Theatre Trust Limited and Yvonne Arnaud Theatre Management Limited. To facilitate effective operations. the Director and Chief Executive has delegated authority, within terms of delegation approved by the directors, for operational matter5 including finance. fvndraising and employment. Fundraising Grant income of £1,920.425 was received in the period from Surrey County Council's Your Fund Surrey scheme. Further significant funds for the Capital programme were raised and pledged during the period including support from Fidelity Foundation, The Foyle Foundation, Syder Foundation, Banham Foundation, Weir Rhodes and others. Several events were presented in the main house to raise fund5 for the Play Your Part campaign. Along with other contributions from individual donors and trusts, the campaign received total funds of £2,602,692 in the period. All contributions received are listed in note 3 to the financial statements. The Yvonne Arnaud theatre operates an internal fundraising team and does not engage commerci81 fundraising participants to carry out fundraising activity. As part of our compliance with the General Data Protection Regulations the theatre has reviewed and updated its privacy policy. The policy is available at onne-arnaud.co.u rivac the policy clearly states what personal data we will hold in relation to SUPPOrters and how this information will be used. The theatre has received no complaints about tt5 fundraising activities either during the financial year or Subsequently. Page 7 YVONNE ARNAUD THEATRE TRusf LIMITED Re8lstered No. 15510462 Report of the Dlrectors for the perlod ending 31 March 2025 Relotedparties ond co-operotion with other orgoni50tions None of our directors receive remuneration or other benefit from their work with the charity. Any connectlon betweerb a director or senior manager of the charity with a company with which business is transacted must be disclosed to the full board of directors in the same way as any other contractual relationship with a third party. Poy policyfor senior5taff The directors corTr5ider that the Board of Dirertors are responsible for reviewing poliry according to the Memorandum and Articles of Association. The Chief Executive and Finance Director comprise the key management personnel of the charity, in charge of directing and controllin& running and operating the company on a day-to-day basis. All directors give of their time freely and no director received remuneration in the year. Related party transactions are disclosed in note 13 to the financial statements. The pay for the executive is reviewed annually. Where an increase is made, it will be no greater than the percentage increase made to the legally set national minimum wage rates. Given that financial Sustainability is one of the major risks for the charity, an increase in pay rates will not always be made. Risk management The major risks to which the charlty Is exposed have been identified by the directors and procedures are in place to mitigate them. A formal risk analysis review 15 presented annually, and the risk register is reviewed and updateLI as a live document with the top risks being presented at each board meeting. Dlrectors, responsibilities In relation to the financlal statements The directors are responsible for preparing a directors, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practicel. Company law requires the direttors to prepare financial statements for each year which give a true and fair view of the state of affair5 of the charitable company and of the incoming resources and application of resource5, including the income and expenditure, of the charitable company for that period. In preparing the financial statements, the directors are required to.. select suitable accounting policies and then apply them consistently- observe the methods and principles in the Charities SORP- make judgements and estimates that are reasonabl@ and prudent; state whether applicable UK accounting standard5 have been folk)wed, subject to any material departures disclosed aftd explained in the financial statements,. prepare the financial statements on the Eoing concern basis unless it is inappropriate to presurne that the charity will continue in business. The directors are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companie5 Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Page 8 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Report of the Dirertors lor the perlod ending 31 March 2025 The directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitable companws website. Legislation in the United Kingdom governing the preparation and dissemination of financlal statements may differ from legislation in other jurisdictions. Statement a5 to dIsclosu￿ to our auditors In $0 far as the directors are aware at the time of approving our directors, annual report.. there is no relevant information. being information needed by the auditor in connection with preparing their report, of which the charitable company's auditor is unaware, and the directors, having made such enquiries of fellow directors and the charitable companws auditor that they ought to have made, have each taken all steps that they are obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. By order of the board of directors ALFJ MrAndrew French 9 September 2025 Page 9 Independent Audltorfs Report to the Members of Yvonne Arnaud Theatre Trust Limlted forthe perfod ended 31 March 2025 Oplnion We have audited the financial statements of Yvonne Arnaud Theatre Trust Limited I'the charitable company'l lor the period ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet and notes to the financial statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law ènd United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Prattice)- In our opinion, the financial statements.. give a true and fairview of the state of the charitable companf s affairs as at 31 March 2025 and of its incoming resources and application of resources for the period then ended,. have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice: and have been prepa￿d in accordance with the requirements of the Companies Act 21XJ6. Basis for oplnion We condurted our audit in accordance with International Standards on Auditin8 IUKI11SAs IUKII and applicahle law. Our responsibilities under those standards are further described the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the charitable company in accordance with the ethical requirement5 that are ￿levant to our audit of the financial statements 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 to provide a basis for our opinion. Conclusions relating to golng concem In auditing the financial statement5, we have concluded that the dirertors, use of the going concern basls of accounting in the preparatlon of the financial statements is appropriate. Based on the work we have performed. we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charity's ability to continue as a going concern for a period of at ￿ast twelve month5 from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant seciions of this report. Other infomiation The dlrector5 are responsible for the other information. The other information comprises the information included in the directors, report, other than the financlal statements and our audltor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Page 10 Independent Auditorfs Reportto the Members of Yvonne Amaud Theatre Trust Limlted forthe period ended 31 Mar¢h 2025 In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial ststements or our knowledge obtained in the audit or otherniise appears to be materially misst?ted. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial ststements or a material misstatement of the other information. If, based on the work we have performed, we conclude that there 15 a materi31 misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Oplnlons on other matters prescribed by the Companle5 Act 2006 In our opinion, based on the work undertaken in the course of the audit: the information given in the directors. report for the financial period for which the financial statements are prepared is consistent with the financial statements,. and the directors, report has been prepared in accordance with applicable legal requirements. Matters on which we are requlred to report by exceptron In the light of our knowledge and understanding of the charitable company and itsenvironment obtained in the course of the audit. we have not identified material vnisstatements in the directors. report. We have nothing to report in respect of the following matters in relation to which the Companie5 Act 21￿6 requires us to report to you if, in our opinion.. adequate accounting records have not been kept. or returns adequate for our audit have not been received from branches not visited by us,. or the financial statements are not in agreement with the accounting records and return5,' or certain di5closure5 of directors, remuneration specified by law are not made: or we have not received all the infom)ation and explanations we require for our audit. Responslbilitles of directors As explained more fully in the directors. responsibilitles statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the charitable company's ability to continue as a going concern, disclosin& a5 applicable, matters related to going concern and using the going concem basis of accountinE unless the directors either intend to liquidate the charitable company or to cease operations. or have no realistic alternative but to do so. Pagell Independent Auditorfs Report to the Members of Yvonne Arnaud Theatre TnJst Limited lor the perlod ended 31 March 2025 Auditorfs responsibllities for the audlt of the financlal statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditorfs report that include5 our opinion. Reasonable assurance is a high level of assurdnce, but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will always detett a material misstatement when it exists. Mi55tatements can arise from fraud or error and are considered material if, individually or in the aggregate. they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements. Irregularities. including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Extent to which the audlt was considered capable of detectlng irregularlties. including fraud The objectives of our audit, in respect to fraud. are: to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtsin sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementin8 appropriate responses; and to resFJond appropriately to fraud or suspetted fraud identified during the audit. However. the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follow5: We identified areas of laws and regulations that could reasonabty be expected to have a material effect on the flnancial statements from our general commercial and sector experience. and through discussion wlth the directors and other management las required by auditing standards), and discussed with the direttors and other management the policies and procedures regarding compliance with laws and regulations,. We identified the following areas as those most likely to have Such an effect= health and safety,. General Data Protection Regulation {GDPRI,. fraud,. bribery and corruption and employment law. Auditing standards limwt the required audit procedures to identify non~compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework IFRS 102 and the Companies Act 2006 and the Charities Act 2011) and the relevant tax compliance regulations in the UK,. We consldered the nature of the charitable company's operations, the control environment and business performance: We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit,. We considered the procedures and controls that the charitable company has established to address risks identified, or that otherwise prevent. deter and detect fraud- and how senior management monitors those procedures and controls. Page 12 Independent Audliorfs Report to the Members of Yvonne Arnaud Theatre T￿￿t Limlted for the perlod ended 31 March 2025 Based on this understanding we designed our audit procedure5 to identify non-compliance with such laws and regulations. Where the risk was considered to be higher, we performed audit procedures to address each identified fraud risk. These procedures included- testing manual jouinals- reviewing the financial statement disclosures and testing to supporting documentation; performing analytical procedures,. and enquiring of management, and were designed to provide reasonable assurance that the financial statements were free from fraud or error. Owing to the inherent limitations of an audit. there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing 5tandard5. For example, the further removed non- compliance with laws and regulations lirregularitiesl is from the events and transactions reflected in the financial statements, the less likely the inherently limited procedures required by auditing standard5 would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery. collusion, omission or misrepresentation. We are not responsible ft)r preventing non-compliance and cannot be expected to detect non-compliance with all law5 and regulatlOllS. A further description of our responsibilities is available on the Financial Reporting Council's website at.. https-l/www.frLorg.uklOur-WorklAudit/Audit-and-assurante/Standard5-and-guidancelStandards- and-Euidance-for-auditors/Auditors-responsibilities-for-auditlDescription-of-ouditors-responsibilities- for-audit.a5px. This description forms part ot our auditorfs report. Use of our report This report 15 made solely to the charitable companvs members. as a IKJdy, in accordance with Chapter 3 of Port 16 ot the Companles Act 2006. Our audit work has been undertaken so that we might state to the charitable company'5 members those matters we are required to state to them in èt) auditorfs report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable companls members as a body, for our audit work. for this report. or for the opinions we have formed. Mark Cummins FCCA (Senior Statutory Auditorl for and on behalf of TC Group Statutory Auditors Office.. Sussex Dated-. £5 54ehi•Kkr S P28¢ 13 YVONNE ARNAUD THEATRE TRusf UMITED Registered No. 15510462 Statement of Flnanclal Actlvities {incorporating income and expenditu￿ attount) For the Period Ended 31 March 2025 2025 Nots Unrestrlrted & De51gnated Funds 2025 Restrlrted Funds 2025 Totsl Funds Income and endowments from.. DonotAons ond legocies 132,875 2,543,579 2.676,454 Other troding octivities Rental income 60,992 60,992 Investmentincome- bank interest 119,008 119,008 Totsl income 312,875 2.543,579 2,856,454 EXp￿dIture on.. Choritable uctivities Operatlon of theatre premises 1146,9321 18,5001 1155,4321 Total expenditure 1146,9321 18,5001 1155,4321 Net income 165,943 2,535,079 2,701,022 Asset transfer agreement transfer at l-Jun-24 23 3,161.584 490,778 3.652,362 Net movement in funds 3,327,527 3,025.857 6,353,384 Re¢onclliatlon of funds: Total funds brought forward at 21-Feb-24 Total funds carried forward at 31-Mar-25 3,327,527 3.025,857 6,353,384 The ststement of financial activities includes all gains and105ses recognised in the period. All income and expenditure derive from contlnuing activities. Page 14 YVONNE ARNAUD THEATRE TrUST LIMITED Registered No. 15510462 Balan¢e Sheet as at 31 March 2025 2025 2tr25 Fixed Assets TarEible fixed assets 13 3,216,083 3,216,083 CurrentAssets tkbtors Cash at bank ènd in hand 14 389.314 3.029,708 3.419,022 Crethtots.. Anx)unts faling due thin one year 1281,7211 3,137,301 Totsl assets les cmnt liat41ities 6,353,384 6,353,384 Fund5 Unrestricted general fund5 rk5ignated funds Restritted funds 17 525.CO) 2.802,527 3,025,857 19 Totsl funds 6,353,384 These financial statements have been prepared in accordance with the provision applicable to companies subject to the small companies regime. The accounts were approved by the board on 9 September 2025 hLFJ Mr Andrew French Page 15 YVONNE ARNAUD THEATRE TRusf UMITED Registered No. 15510462 Statement of Cash Flows for the Period Ended 31 Mar¢h 2025 2025 Nots Cash used In operating activitles 22 2,585,916 Cash flows trom Investing artivitles Interest income Purchase of tangible fixed asset5 Fixed assets transferred under asset transfer agreement Cash (used inl/provided by investing activities 119,008 12,914.9951 1332,2811 13,128,268) Cash flows from financlnz actlvltles Repayment of borrowing Cash used in financing activities Increase/ldecreasel in cash and cash equivalents in the period Cash and cash equivalents at the beginning of the period Cash transferred under asset transfer agreement Total cash and cash equivalents at the end of the period 1542,3521 3,572,060 ,029,708 The notes on pages 16 to 27 form part of these financial statements. Page 16 YVONNE ARNAUD THEATRE TRUST UMITED Reg15tered No. 15510462 Notes to the Accounts for the Period Ended 31 March 2025 l. General Information The company is a charitable company Ilimited by guarantee) both registered with the Charity Commission and incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of It5 registered office is Millbrook, Guildford. Surrey GUI 3UX. Accountl Pollcles The principal accounting policies adopted, judgements and key sources of estimation uncertainty In the preparation of the financial statement5 are as follows= lal Basis of preparation The financial Statements have beer) prepared in accordance with Accounting and Reporting by Charitie5: Statement of Recommended Practice applicable to charities preparing their account5 In accordance with the Financial Reportirkg Standard applicable in the UK and Republic of Ireland {FRS 1021 leffective l January 20191 (Charities SORP IFRS 102>1, the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Yvonne Arnaud Theatre Trust Ltd meets the definition of a public benefit entity under FRS 102. A55ets and liabilities are initially recognised at historical cost or transaction value unle55 otherwise stated in the relevant accounting policy notels). The financial statements are prepared in Pounds Sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest pound. Ibl Preparation of the accounts on a going concern basis The directors monitor the charity's income and costs, whilst considering the state of repair ot the theatre buildings and the potential costs of maintenance work ￿QuIred to ensure they remain fit for purpose. The dirertors aim to build designated reseryes to cover the costs of significant maintenance works required. The forecasts predict that the charitable company will be able to continue as a golng concern for a perrod of twelve months from the date on which these accounts are signed. Based on the forecasts, the director5 believe that it 15 appropriate to prepare these accounts on a going concern basi5. Icl Income Income is recognised when- The charity has entitlement to the funds. Any performance conditions attached to the itemls} have been met, It is probable that the income will be receIv￿, and The amount can be measured reliably. Page 17 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Notes to the Accounts forthe Period Ended 31 March 2025 Accountl Pollcies continued Icl Income Icontinuedl Income from commercial trading activities is recognised as the related goods and services are provided. Income 15 deferred when performance grants are receÈved in advance of the performan￿ or eventto which they ￿late. Income from govemment, local authority and other grants, whether "capital. grants or "revenue- grants, is retognised when the charity has entitlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income will be received and the amount can be measured reliably and Is not deferred. Idl Donated services and facilities Donated professional services and donated facilities are recognised as income when the charity has control over the item, any conditions associated with the donated item have been met, the receipt of economic benefit from the use by the charity of the item is probable and that economic benefit can be MeasU￿d reliablv. On receipt, donated professional services and donated facilities are recogrbised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain services or facilities of equivalent economic benefit on the open market. a corresponding amount is then recognised in expenditure in the period of receipt. {el Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity- thi5 is normally upon notification of the interest paid or payable by the bat7k. lfj Fund accounting Unrestricted funds are available to Spend on activities that further any of the purposes of the charity at the discretion of the directors. Restricted funds are donations which the donor ha5 specified are to be used solely for particular areas of the charitvs work. Igl Operating leases Rental charges paid under operatlng leases are charged on a straight-line basis over the term of the lease. Ihl Expenditure Expenditure 15 recognised when.. There is a legal or constructive obligation to make a payment lo a third party, It is probable that settlement will be required, and The amount of the obligation can be measured reliably. Page 18 YVONNE ARNAUD THEATRE TrUST UMITED Registered No. 15510462 Notss to the Accounts for the Perlod Ended 31 March 2025 Ac¢ountln Pollcles contlnued Ihl ExpendSture Icontinuedl Expenditure is classified under the following activity headings: Cost5 of raising fund5 comprise the costs of commercial trading. Expenditure on charitsble activities includes expenditure relating to the provision of the theatre buildings and the associ8ted support costs relating to this artivity- lil Allocation of support costs Support costs are those funrtions that assist the vmrk of the charity but do not dirertly undertake charitable activities. Support costs include back-office cost5, finante, personnel, payroll and governance costs which 5UPPOrt the charivs attivities. til Tangible fixed assets Individual fixed assels costlng £1,0¢￿) or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-lir7e basis as follows- Refurbishment project Leasehold theatre Fixtures and fittings no depreciation until asset 15 in use 100 years 10 years Ikl Stocks Consufflable goods are written off in the year In which the expenditure is incurred. {11 Debtors Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. {ml Cash at bank and in hand Cash at bank and in hand Includes cash and medium temi highly liquid Investments with maturity of twelve months or le55 from the date of acquisition or opening of the deposlt or similar account. Inl Creditors and provisions Creditors and provisions are recognised where the charity has a P￿sent obligation resulting from a past event that will probably result in the transfer of tund5 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 allowlng for any trade discounts due. (ol Pension costs The pension costs charged in the financial statements represent the amounts payable by the charitable company during the period to defined contribution pension schemes operated by insurance tompaflies. Page 19 YVONNE ARNAUD THEATRE TRusf UMITED Regrstered No. 15510462 Notes to the Accounts for the Perlod Ended 31 March 2025 Accotsntln Policies continued Ipl Judgements and key sources of estimation uncertainty In the application of the company's accounting policies, the directors required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other Sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimate5 and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. (ql Reporting period Yvonne Arnaud Theatre Trust Limited was registered with Companies House on 21 February 2024 (company number: 155104621 and received Charity Commisston approval with effect from 30 April 2024 under a new charity registration number (charity re8iStration'. 1208066). An asset transfer agreement was completed, formally transferring all asset5 and liabilities from the old unincorporated YATTrust (charity number.. 2005001 to the new incorporated YATTrust, with effect from ljune 2024. This first reporting period covers the period from 21 February 2024 to 31 March 2025. Donatlons and le cles Total Grfts Capital wojeLt (see note below) Legaaes 64,762 59,1 64,762 2,fA)2,692 2,543,579 132,875 2,543,579 2,676,454 Page 20 YVONNE ARNAUD THEATRE TRusf UMITED Reglstered No. 15510462 Noles to the Account5 for the Period Ended 31 March 2025 Oonations and le cies continued Unrestrlcted Total Caiytsl woiett ftjndraisl￿. SCCYour Fund Su Fowe FourKlation Fidelity Saloni)m Oppenheimer er Fou￿latIOn >lden BottleTrust John Rigg CharitakAe Trust blloway CharitabIeTn￿t Chaplin Foundation Banham Foundati¢)n Weir Rhodes Prwate doTh)rs incl￿11￿ gift ad Event Findraisir 1,920.425 1.920A25 I￿,([￿) l(K),¢J)) 250,IJJJ 250,IXQ 14L854 182,839 18,128 18,128 59,113 2,543,579 2,EA)2,692 Other tradi activitles and investment income All of the charitys investment income of £119,(X)8 arises from money held in interest bearing deposit accounts. Anal sis of ex nditure on charitable artlvltles Unrestrirted Restricted ants to YAT ￿7nage￿Ent CthernarKe & supwrt cosL8 (see rKrte below) 19,753 28,253 127,179 127,179 146,932 155.432 Page 21 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Notes to the Accounts foi the Perlod Ended 31 March 2025 Anal 150fex endlture on charitsble artivitles contlnued Anal i50f overnance and su rt costs 2025 General support Governance Totsl Staff costs Property costs 57,996 6,977 8,587 18.942 31,193 57,996 6,977 8,587 22,426 31,193 Professional fees Depreaation & loss on disposal 3,484 123,695 3.484 127,179 The charitable company allocates its governance and support costs as shown in the table above. These costs are allocated on a basis consistent with the use of resources. Movement In total funds for the iod This is ststed after chargingthe followir¥: 2025 Deweciation of targible fixed assets Auditors, remuneration- external audit Staff costs (note 81 31,193 57,996 Taxation The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied lo its charitable objects. ¢)sts dlrector remuneration and ex enses and the cost of k man ement rsonnel Wages salaries S(Kial security costs Other ￿nSIOn costs 51,640 3.510 57,996 Page 22 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Notes to the Accounts for the Period Ended 31 March 2025 Staff costs director remuneration and e continued nses and the cost of k mana ement er50nnel The amount for wage5 and salaries of freelance staff Included above was £23,175. inclusive of social security costs. Suth persons are not employed on a regular basis throughout the period and do not appear in the staff numbers table (note 91. No employees had employee benefits in excess of £60,000. Pension costs are allocated to activities in proportion to the related 5taffin8 ¢OSts incurred and are wholly charged to unrestricted fltnds. No compulsory redundancies were made in the year. None of the directors recelved any remuneration or expense5 during the current or previous years, in their role as directors. The key management personnel of the charity comprise the directors. the Theatre Director and Chief Executive and the Director of Finance. The total remuneration of the key management personnel of the charity was £34,821. Staff numbers The average monthly number of persons employed under contracts of service by the charrtable company during the year was as follow5.. 2025 No Management and administration 10. Pen ion Employees of the charity have received a contribution into a pre-existing personal pension scheme as agreed in their contract of employment. The charity has incurred total pension contribution costs in the year amounting to £2,846. This cost represented payment5 to defined contribution pension schemes for two employees. At the period-end a balance of £nil was due to the pension provider. 11. Government Grants Income from government grants comprlses performance related grant5 made by the local authority to fund the redevelopmentof the theatre facilities rented at a commercial rate to Yvonne Arnaud Theatre Management Ltd. 12. Related transactions There were no related party transactions undertaken during the period. Page 23 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Notes to the A¢counts for the Period Ended 31 March 2025 13. Tan ible fixed assets leaselM)Id woieLt FYIJPty in prcyess ts￿1￿￿1t T(tal Transfer5 unthr athtransfer agreenEnt xkfitions Cisp)sals Al 31 ￿rch 2025 217,217 519,295 2,914,995 129,807) 3.41M,483 2,621,IT/ 293,818 I29,￿} 322,959 217,217 2,8￿,307 Transfers un(Èr asset transfer agree￿t Charge fortheyear EEweaation on disp)sals 31 Ivkrch 2025 I28.￿7 1,810 187,014 31.193 129,g 29,383 129,KJ71 58,523 129.877 At 31 Vfirch 2025 87,340 2,86q,307 264,436 3.216,CE3 14. Debtors 2025 Trade debtors Other debtors Prepayments 133,768 213,916 41,630 389.314 15. Credltors: amounts falli due wfthin one ear 2025 Trade creditors Yvgnn¢ Amaud Theatre Management Ltd Accruals and deferred income 17,516 108,457 155,748 281,721 Page 24 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Notes to the Accounts for the Period Ended 31 March 2025 16. Deferred income 2025 Transfer under a55et transfer a8reeTrerbt Amounts deferred in the year Amount released to incoming resources Closing balance at 31 March 2025 5.663 11,190 19.3251 7,528 Deferred income includes grants which the donor has specified must be used In fvture accountlng periods. 17. Re¢on¢iliation of Movement in totsl funds- Unrestrirted funds Income and expendlture account Transfer under asset transfer agreement Incoming Resources Outgoing Resource5 Transfers Carried forward at 31 March 2025 760,857 244,762 1127,1791 1353,4401 525,000 18. Reconcillatlon in I funds- Theatre support fund Dlmmer Phase Two Ilqhtlng repalrs system fund Flood Excess fund Capitsl Project fund Totsl Transfer under asset transfer agreement Incoming ResOu￿e$ Outgoing Resources Transfer5 Carried forward at 31 March 2025 1.094,208 52.527 I00,oC￿ I,IS3,992 2,400,727 68,1 68,113 119,7531 353,440 2,802,527 18,3341 111,4191 303,440 50,OOLI 303,440 150,OfKI 1,222,105 1,085,874 41,108 Page 25 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Notes to the A¢counts for the Perlod Ended 31 March 2025 18. Reconclllation of Movement In total funds- Desl ed fund5 contlnued The Theatre sUPPOrt fund was created to provide financial support to Yvonne Arnaud Theatre Management Ltd. YvonneArnaud Theatre Trust is established to support the arts through the provision, malntenance and support of the Yvonne Arnaud theatre premlses and facilities in addition to providing financial and other support to Yvonne Arnaud Theatre Management Ltd, as necessary. Funds will be transferred with the approval of the director5, to fukFil the business plan in accordance with the organisations, charitable purposes. The dimmer lighting system fund was created in the year ended 5 Aprll 2018 from Several unrestricted legacies received in that and the followin8 year to help fund the replacement cost of the dimmer lightlng system. The project was undertaken in summer 2018 and costs incurred have been capitalised and will be depreciated over a ten-year period. Funds from this designated reseNe wlll be amortlsed over the same ten-year period. The flood excess fund wa5 approved and created by the directors to ensure that refurbishment costs in the event of a flood, not covered by the theatre's insurance policy, could be met. The theatre's insurance policy no longer provides cover for any flood damage costs. A transfer of £50,000 was made at the period end to increase the balance held, to recognise the likely increases to costs of maintenance work required post future fI￿dIng. The directors have continued their review5 of the buildin& repairs required access issues. Plans were drawn up for phase one of the necessary capttal works and refurbishment and capital works were started in July 2024. The designated capital projett fund continues to raise the reserves needed to undertake these improvements. A Phase two repairs and maintenance fund was created in 2024-25 with a transfer from unrestricted reserves of £303,440 at the period end. This is to start to raise the necessary funds to build a reseNe to pay for the costs of rtrrooflng the theatre and painting the outside of the building. 19. Reconcillation of Movement In totsl funds- Restricted funds Capltal Project fund Dlmmer lighting fund Totsl Transfer under asset transfer agreement Incoming Resources Outgoing Resources Carried forward at 31 Marth 2025 451.678 2,543,579 39,1 490,778 2,543,579 18,51KJI 3,025,857 18,5001 30,600 2,995,257 Funds of £1.920,42512024= £nill were received in the period from Surrey County Counciys Your Fund Surrey grant towards the capital project campaign. Additional funds of £623,154 12024: £nill we received in the yearfrom Charitable Trusts and private donors, contributin8 toward5 the capital project campaign. Further details of the funders is provided in n(rte 3 to the accounts. ge26 YVONNE ARNAUD THEATRE TRUST UMITED Registered No. 15510462 Notes to the Accounts for the Period Ended 31 March 2025 19. Reconcillatlon of Movement In totsl furbd5- Restricted funds continued Three restricted donations were received from CharltableTrusts to be used towards the renewal of the Theatre's dimmer stage lighting system. The project was completed in Summer 2018 with costs capitalised and beingdepreciated overa ten-year period. Restricted funds re￿iVed towards this projert arè being amortised over the same ten-year period. 20. Anal sls ol net assets between fun 2025 Unrestrl¢ted & Designated 2025 Restricted 2025 Total Tanglble fixed assets Current asset5 Cash at bank and in hand Current liabiltties 351,776 389.314 2,868,158 1281,7211 3,327.527 2,864,307 3,216,083 389,314 3,029,708 1281,7211 6,353,384 161,550 3,025,857 21. Commitments under o eratin leases At 31 March 2025. the charitable company had no commitments under non