YVONNE ARNAUD THEATRE TRUST Accountsfor the Year Ended 31 March 2025 Reglstered Charlty No. 200500
Page I YVONNE ARNAUD THEATRE TRUST Accounts for the Year Ended 31 March 2025 Contents Page Corrtents Reference and admlnistrative detsils
7 Trustees, reF)Ort 8-11 Auditors, report 12 Statement of financial actlvlties 13 Balance sheet 1ty25 N¢)tss to the accounts
Page 2 YVONNE ARNAUD THEATRE TRUST Reference and adrnlnistrative detalls Charity name: Yvonne Amaud Theatre Trust Charlty number: 200500 Registered office: Yvonne Arnaud Theatre, Millbrook. Gulldfonl, Surrey GUI 3UX Key rnanagement personnel Yvonne Amaud Theatre Trust: Trustees The trustees and officers serving during the year and since the year end were as follows: Mr Stephen Barnpfylde Mr RogerBlack MBE Mrs Emma Brunjes Mr Andrew French Mr Charles Geffen Mr Peter Gordon Mrstsven Lee Mrs Wivlenne Mather Mr Mlchael More-molyneux Chairman GBC Representative Key management personnel of Yvonne Arnaud Theatre Management Llmited: Senlor Stsff Dlrertor and Chlef Executive Dlrector of Finance Mrs Joanna Read Mrs Sarah Gatward Our advisors Bankers: Barclays Bank pl¢ Woklng Corporate Mernet Suite PO Box 673 Town Gate House Church Street East Wokln8 GV216AE Auditors". TCGroup The Courtyard, ShohaM Road. Upper Beeding Stsynlng West Sussex BN44 3TN Solicltors: stevens & Bolton LLP Wey House Famham Road Guildford Surrey GUI 4YD
Page 3 YVONNE ARNAUD THEATRE Tru Report of the Trustees for the year ending 31 March 2025 The trustees present their annual report together with the financial statements for the year ended 31 March 2025. The financial statements comply wtth the Charities Act 2011, the Trust Deed and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their financial statement5 in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151. Theatre Trust Chalrnian's Report The Yvonne Arnaud Theatre 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 Arnaud Theatre Trust will remain unchanged- to advanc& the arts for public benefit through the provision. maintenance and support ofthe Yvonne Amaud Theatre. The limited by guarantee company 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 Icharty number.. 12080661. An asset transfer agreement was completed, fomially transferring all assets and liabilities from the old unincorporated YAT Trust (charity number: 2CK)51X)I to the new incorporated YAT Trust with effett from I" June 2024. I would like to thank my fellow trustees for their hard work and support throughout the year, together with the chief executive Joanna Read and Finance Director Sarah Gatward. who are to be commended for their work on the governance matters and continued commitment and dedication to the theatre. Stephen Bampfylde Chairman Our Object and Artlvities 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 Theatre buildlngs and through the provision of either financial or other support to ensure the ongoing investment in and development of the Yvonne Arnaud Theatre. Public Benefit In shaping our objectives for the year and planning our activities, the directors have considered the Charity Commission's guidance on public benefit. including the guidance "public benefit.. running a charity IPB21" The theatre relie5 on grants and the income from fees and charges to cover its operating costs.
Page 4 YVONNE ARNAUD THEATRE TRusr Report of the Trustees for the year ending 31 March 2025 Achlevements and Performance StaJTing ond Operations The Trust jointly employs both the Chief Executive and the Finance 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 revlew The Yvonne Arnaud Theatre Trust Icharlty number.. 2005001 reported a surplus on nomal operations for the first two months of the year of £17,52512024: £468,314). After exceptional grant transfers in the previous year from Yvonne Arnaud Theatre Trust (charity number.. 2005001 to Yvonne Arnaud Theatre Management Limited, the Trust reported a deficit of £177,223. From l June 2024, all assets and liabilities were transferred to the newly incorporated Yvonne Arnaud Theatre Trust Limited Icharf(v number.. 12080661- Investment powers and pollcy The trustee5. havin8 regard to the liquidity requirements of operatlng the theatre Trust throughout the upcoming refurbishment works, have kept available funds in a combination of instant access deposit accounts and fixed term deposit accounts. Although trustees seekto achieve a rate on deposit that either matches or exceeds the rate of inflation, due to wider economic circumstances this aim has not always been possible to achieve. At the end of May 202412024.. year*ndl, the invested funds held on deposit achieved an average weighted rate of interest of 5.02%12024= 5.CK)%I. Plans forfuture perlods With effect from l June 2024, all 3ssets and liabilitie5 were transferred to the Yvonne Arnaud Theatre Trust Limited Icharity number: 12080661 under an asset transfer agreement. Yvonne Arnaud Theatre Trust Icharity number.. 2005CI)I did not trade from this date and it is anticipated that the charity will remain dormant for the foreseeable future. Structure, Governance and Management Governing document The Yvonne Arnaud Theatre Trust (The Trust") (charity registration: 2¢)05001 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 Theatre Trust undertook a review of the charivs 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 Arnaud Theatre Trust will remain unchanged- to be responsible for the theatre building and to advance the arts for public benefit through the provlslon, maintenance and 5UPPOrt of the Yvonne Arnaud Theatre.
Page 5 IVONNE ARNAUD THEATRE TRUST Report of the Trustees for the year ending 31 March 2025 The charitable company limited by guarantee was regiSted 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 re8lStration number Icharity number.. 12080661. An asset transfer agreement was completed. formalty transferring all assets and liabilities from the old unincorporated YAT Trust (charity number: 2500} to the new incorwrated YATTrust, with effect from I" June 2024. Appointment of trustees The Board of Trustees consists of Ordinary and Representative Trustees. At any one time. there should not be less than five and not more than ten OrdinaryTrustees. Representative Trustees shall not number more than seven. The Trustees may appolnt any person to be an Ordinary Trustee at any time provided the maximum number of Trustees is not exceeded. Representative Trustees may be appointed at a meeting convened and hekl according to the policy of the appolnting body. Orgonisotion The board of Yvonne Arnaud Theatre Trust (charity number: 2005001 meets quarterly. The Trust owns the theatre building which it leases to Yvonne Arnaud Theatre Management Limited I"ManagemenVI 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 joint appolnted by the Board of Yvonne Amaud 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 trustees, for operational matters inclltding finance, fijndraising and employment. Fundroising The Yvonne Arnaud theatre operates an internal fundraising team and does not engage commercial fundraising participant5 to carry out fundraising artivity- As part of our compliance with the General Data Protection Regulation5 the theatre has reviewed and updated its privacy wjlicy. The poliiw is available at www. onne-arnaud.co.uk p.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 its fundraising activities either during the financial year or subsequently. Related parties and co-operation with other organisotions None of our trustees receive remuneration or other benefit from their work with the charity. Any connection between a trustee or senior manager of the charity with a company with which business is transacted must be disclosed to the full board of trustees in the same way as any other contractual relationship with a third party.
Page 6 YVONNE ARNAUD THEATRE TRUST Report of the Trustees for the year ending 31 March 2025 Poy policyforseniorstaff The trustees consider that the Board of Trustee5 are responsible for reviewing policy according to the Memorandum and Articles of Association. The Chief Executive and Finance Director comprise the key management personnel ot the charity, in charge of directing and controlling, running and operating the company on a day-to-day basis. trustees give of their time felY and no trustee received remutleration in the year. The pay for the executives is reviewed annually. Where an increase is made. it wlll 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 monogement The major risks to which the charity is exposed have been identified by the trustees and procedures are in place to mitl8ate them. A formal risk analysis review is presented annually, and the risk register 15 reviewed and updated as a live document with the top risks being presented at each board meeting. Trustee< responslbilltle5 In reLitlon to the financial statements The trustees are responsible for preparing a trusrees, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdorn Generally Accepted Accounting Practice). Charity law requires the trustees to prepa financial statements for each year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resoijrces, including the income and expenditure, of the charity for that period. In preparing the financial statements, the trustees requlred to- select suitable accounting policies and then apply them consistently,. obseNe the methods and principles in the Charities SORP.. make judgements and estimate5 that are reasonable and prudent.. state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial stètements. prepare the financial statements on the going concem basis unless it Is inappropriate to presume that the charity will continue ill business. The trustees a responsible for keeplng proper accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for Safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraLKI and other irregularities. The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in otherjurisdictions.
Page 7 YVONNE ARNAUD THEATRE TRusr Report of the Trustees for the year ending 31 Mar¢h 2025 Statement as to disclosure lo our auditors In so far as the trustees are aware at the time of approving our trustees, annual report: there 15 no relevant information, being information needed by the auditor in connection with preparing their report, of which the charit(s auditor is unaware, and the trustees, having made such enquirie5 of fellow trustees and the charivs au(iitor that they ought to have made, have each taken 811 steps that they are obliged to take as a trustee in order to make themselves aware of any levant audit information and to establish that the auditor is aware of that information. By order of the board of trustees Mr5teph 16 July 2025 Bampfylde
Page 8 Independent Audltorfs Rep to the Members of Yvonne Amaud Theatre Trust forthe year ended 31 March 2025 Opinion We have audited the financial statements of Yvonne Arnaud Theatre Trust I'the charity'l for the year ended 31 March 2025 which comprise the Statement of Financial Activitie5, the Balance Sheet and note5 to the financlal statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation 15 applicable law and 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 Practice). In our opinion, Ihe financial statements: give a true and fair view of the state of the charitWs affairs as at 31 March 2025 and of Its incoming resources and application of resources for the year then ended- have been property prepared in accordance with United Kingdom Generally Accepted Accounting Practice- and have been prepared in accordance with the requlrements of the Charities Act 2011. Basls for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statement5 section of our report. We are independent of the charity in accordance with the ethical requirements that are relevant 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. Concluslons relating ta going concern In auditing the financial statements, we have concluded that the trustees, use of the going concern basis of accounting in the preparation 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 collecttvely, may cast significant doubt on the charity's ability to continue as a going concern fora period of at least twelve months from when the financial statements a authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report. Other Infwmation The trustees are responsible for the other information. The other information comprises the information included in the trustees, report. other than the financial Statements and our auditorfs 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 9 Independent Audltorfs Reportto the Members of Yvonne Arnaud Theatre Trust forthe year ended 31 March 2025 In connection with our audit of the financial statement5, our responsibility is to read the other nformation and, in doing so, consider whether the other information is materially incon51Stent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material mi5Statements, we a required to determine whether there is a material misstatement in the financial statement5 ora material mi55tatement of the other information. If, based on the work we have perfomied, we conclude that there is a material mi55tatement of this other information, we are required to report that fact. We have nothing to report in thi5 fegard. Matters on which we are requlred to report by exception In the light of our knowledge and understanding of the charity and its environment obtained in the course of the audit, we have not identified material misstatements in the trustees, report. We have nothing to report in respect of the tollowing matters in relation to whlch the Charities Act 2011 quires 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 u5,. or the financial Statements are not in agreement with the accounting records and returns: or certain disclosure5 of trustees, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Responsibllitle5 of trustees As explained more fully in the trusteed responsibilities statement, the trustees are responsible for the preparation of the financial statement5 and for being satlsfied that they give a true and fair view, and for such internal control as the trustees determine is necessary to enable the preparation of financlal statements that are free from material misstatement. whether due to fraud or error. In preparlng the financial statements, the trustee5 are responsible for assessing the charivs ability to continue as a going concern, distlosin& as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the charitable company or to cease operations. or have rm) realistic alternative but to do so. Auditorfs respon51bllities for the audlt of the flnancial statements Our objectives are to obtaln reasonable assurance about whether the financial statements as a whole are free from material misstatement, whetherdue to fraud orerror, and to issue all auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but 15 not a guarantee that an audit conducted in accordance with ISAS IUKI will alway5 detect a material misstatement when it exists. Misstatements 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.
Page 10 Independent Auditorfs Reportto the Members of Yvonne Arnaud Theatre Trust forthe year ended 31 March 2025 Irregularities, including fraud. are instances of non-compliance with laws and regulations. The extent to which tsur procedures are capable of detecting irregularities, including fraud. is detailed below. A further description of our responsibilities is available on the Financlal ReportinB Council's website at: https=l/www.frc.org.uk/Our-Work/Audit/Audit-and-assurancelStandards-and-guidancelStandards- and-guidance-for-auditors/Auditors-re5ponsibilities-for-auditlDescription-of-auditors-responsibilities- for-audit.aspx. This description forms part of our auditor's report. Extent lo which the audit was ¢onsidered capable of detertSnz Irregularitles, including fraud The objertives of our audit, in respect to fraud. are= to identify and asse55 the risks of material mi5Statement of the financial statement5 due to fraud- to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate Sponses- and to respond appropriately to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests Wlth both those charged with governance of the entity and its management. Our approach was as follows- We identified areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general commercial and sector experience, and throuEh discussion with 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 regulation5,' We identified the following areas as those most likely to have such an effect.. health and safetv General Data Protection Regulation IGDPRI.. fraud: bribery and corruption and employment law. Auditing stsndards limit the required audit procedures to identify non<omplian¢e 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 statemellts reporting framework IFRS 102 and the Charities Act 20111 and the relevant tax compliance regulations in the UK- We considered the nature of the charitws operations. the control envlronment and business perfom)ance: We communicated identified laws and regulation5 throu8hout our team and remained alert to any indications of non-compliance throughout the audit,. We considered the procedures and controls that the charity has established to address risks identified, or that otherwise prevent, deter and detect fraud,. and how senior management monitors those procedures and controls. Based on this understsnding we designed our audit procedures to identify non-compliance with such laws and regulations. Where the risk was considered to be hlgher, we performed audit procedure5 to ddress each identified fraud risk. These procedure5 included= testing manual journals,. 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 fmm fraud or error.
Pagell Independent Audltorfs Reportto the Members of Yvonne Arnaud Theatre Trustfor the year ended 31 March 2025 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 standards. For example, the fvrther removed non- compliance with laws and regulations (irregularities) is from the events and transactions reflected in the flnancial ststements, the less likely the 1ftherent limited procedures required by auditing Standards would identify it. The risk is also greater regarding irreEularities occurring due to fraud ratherthan error, a5 fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be expected to detect non-compliance with all laws and regulations. Use of our report This report is made solely to the CharItS members, as a body. in accordance with the Charitie5 Art 2011. Our audit work has been undertaken so that we might state to the charitfs members those matters we are required to state to them in an 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 charity and the charivs Members as a body, for our audit work, for this report, or for the opinions we have formed. Mark Cummins FCCA (Senior Statutory Auditor) for and on behalf of TC Group Statutory Auditors Office.. Sussex Dated.. I i ?42S
Page 12 YVONNE ARNAUD THEATRE TRUST Ststement of Flnancial Artivltles (incorporatin8 income and expendlture account) For the Year Ended 31 March z025 2025 2025 Note Unrestrkted Re#rlcted & De518nated Funds Funds 2025 Total Funds 2024 Total Funds Income and endowrnents from: DOn0tnS ond leguC5 40,822 4,025 44847 455.563 Othei troding ttctlvities Rental income 10,532 10,532 63,190 Investment income- bonk interest 24.838 24,838 148.111 Total kncome 4,025 80,217 666,864 Expendlture on: Churitoble ocrivities - Operation of theatre premises 160,9921 11,71XII 162,6921 1198,5501 Total expenditure 1,7(KJ 162,692 1198.5501 Net income Exception81 fund transfers to YAT Mana8ement Net mov¢ment in funds betDre net assei transfer 15,200 2,325 17,S25 468,314 645,5371 1177,2231 15,200 2,325 17,525 Asset transfer agreement transfer at l-Jun-24 24 3,161,584 1490,778 3,652.362 Plet movement in funds 24 13,146,384) 1488.4531 13.634,8371 1177.2231 Rètonciliatlon of fund5: Total funds brou8ht forward at 31-Mar-24 3,146,384 488.453 3,634.837 3,812,060 Total funds carried fonvard at 31-Mar-25 3,634,837 The statement of financial activlties includes all Bains and losses recognised in the period. All income and expenditu derive from continuing activities.
Pag¢ 13 YVONNE ARNAUD THEATRE TRusr Balancesheetas at 31 March 2025 2025 2025 2024 2014 Note fixed Assets Tangible fixed assets 14 331,668 331.668 Current Assets Debtors Cash at bank and In hand 15 48,427 3,612,793 3,661,220 Credltors.. Amount5 falling due within one year 16 1358,0511 Net Current Assets 3,303,169 Total assets less current IlabHitles 3,634,837 NetAssets 3,634,837 Funds Restrfrted Funds Capltal Project Fund Dimmer Lighting Fund 21 447,653 40,800 De51Bnat•d Funds Capitsl Projett Fun Theatre Support Fund Dimmer ghtIng Fund Flood Excess Fund 488,453 20 1.125,849 1,135.874 54.811 Unrestrlcted Funds Charitable Funds 2,416,534 19 729,850 3,634,837 The accounts were approved by the board on 16 July 2025 Mr Stephen B pfyl
Pdge 14 YVONNE ARNAUD THEATRE TRusr Notes to the Accounts for the Year Ended 31 March 2025 l. General Infom)ation The Trust is an unincorporated charity, having been established under a Trust Deed dated l May 1961, as amended 30 July 1975, which launched the appeal which led to the building of Yvonne Arnaud Theatre on the Millbrook site. In the event of the Trust being wound up, the trustees have no liability. The address of its registered office is Millbrook. Guildford, Surrey GUI 3UX. Poll¢i Accountln The principal accounting pollcies adopted. judgements and key sources of estimation uncertainty in the preparation of the financial stalement5 are as follows.. lal Basi5 of preparation The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20151 (Charities SORP IFRS 10211 and the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. Yvonne Arnaud Theatre Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy notelsl. The financial statements are prepared in Pounds Sterlin& 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 On l June 2024 the assets and liabilities of the charity were transferred to Yvonne Arnaud Theatre Trust Limited (Charity no. 1208066 and Company no. 155104621. The charity will remain dormant for the foreseeable future, therefore it Is considered appropriate to adopt the going concern basis of accounting in preparing the financial statement5. Icl Income Income is recognised when.. The charity has entitlement to the funds, Any performance conditions attached to the itemlsl have been met. It is probable that the income will be received, and The amount can be measured reliably. Income from commercial trading activities is reco8nised as the related goods and Services are provided. Income Is deferred when perfomance grants are received in advance of the perfomiance or event to which they relate. Income from governmenl, local authority and other grants. whether -capital" grant5 or "revenue" grants, is recognised when the charity ha5 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.
Page 15 YVONNE ARNAUD THEATRE TRUST Notes to the Accounts for the Year Ended 31 March 2025 Accountl Policies contlnued Idl Donated seThices alld facilities Donated professional seiceS and donated facilities are recogni5ed 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 measured reliablv. On receipt, donated professional services and donated facilities are recognised 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 seice$ or facilities of equivalent economic benefit on the open market.. corresponding amount is then recognised in expen(fiture in the period of receipt. lel Interest receivable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notificatlon of the interest paid or payable by the bank. 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 has specified are to be used solely for particular areas of the charitWs work. Igl Operating lease5 Rental charges pald under operating leases are charged on a straight-line basis over the temi of the lease. Ihl Expendtture Expenditure is recognised when- There is a legal or constructive obligation to make a payment to a third party. It is probable that settlement will be required, and The amount of the obligation be measured reliably. Expenditure is classified under the following activity headings: Costs of raising funds comprise the cosis of commercial trading. Expenditure on charitable activities includes expenditure relating to the provision of the theatre buildings and the associated support costs relating to this activity. lil Allocation of support costs Support costs are those funcrions that assist the work of the charity but do not directly undertake charitable activities. Support costs include back-office costs, finance. personnel, payroll and governance costs which support the charity's actnfities.
Page 16 YVONNE ARNAUD THEATRE TRUST Notes to the Accounts forthe Year Ended 31 March 2025 coun Polici contlnued til Tangible fixed assets Individual fixed assets costing £1,0 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight-line basis as follows: Leasehold theatre Fixtures and fittin85 100 years 10 years Ikl Debtors Trade and other debtors are recognised at the settlement amount due after anytrade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. 111 Cash at bank and in hand Cash at bank and in hand includes cash and medium term highly liquid investments with a maturity of twelve months or less from the date of acquisition or opening of the deposit or similar account. Im} Creditors and provisions Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Credttors and provisions are normally recognised at thelr settlement amount after allowing for any trade discounts due. Inl Pension costs The pension costs charged the financial statements represent the amounts payable by the charitable company during the perrod to defined contribution pension schemes operated bv insurance companies. (ol Judgements and key sources of estimation uncertainty In the appllcation 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 estimates 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.
Page 17 YVONNE ARNAUD THEATRE TRusr Notes to the Accounts for the Year Ended 31 March 2025 Donations and le acles (4ft5 Qtita {see mte IAowl 12,679 ,168 92,942 44974 3(A,766 10,881 91942 351.740 ,881 9,143 4025 40,822 4,025 44,847 0.797 3[.766 455,563 ihYestrfcW Re5triLted Trtal ilwÉttrkted P£strfcted T(knl &tiated Caixtal project fUndrats¥'. &g¢kstaBeTr (off & fiona Squire FntIon Garfk1 WeStC Foundlon The InyamTru Maria Bpjrrwn rial Ftwwj Mchad Charftsblefrust The Patrioa Rout1* Foundation rwS(ware (haritsbleTru5t PrivatedorK)rs Ilud[rft31d EventfurKlraisirg ,(m ),{xA) lo,) 9,143 3.525 3,l&K) 1&7E6 43,834 9,143 4.025 46,974 304,766 35L740 hertradl actlvitles and investment incom All of the charity's investment income of £24,838 12024-. £148.1111 arise5 from money held in interest bearing deposrt accounts. The income arising from other tr4ding activities and investment income for the 2024 comparative year was all unrestricted.
Page 18 YVONNE ARNAUD THEATRE TRUST Note5 to the Ac¢ounts for the Year Ended 31 March 2025 Anal isofex nditure on charltable activlties fyantstoYAT MarbagerTEnt Gnce & SLtppJrtcosts Isee Trxè below) 43,950 i7() 45,650 163,702 16,777 ,479 17.rA2 17,(k12 18,071 ,071 (Q,992 L7(X> 62.692 18L773 16,7n 198,550 2025 60neral General SUPPOrt GovemarKe Tot suppvrt G7¥emance Total Staff costs Pmperty tosts Office Costs Professional fees Depreciation & ltsss on disposal .144 13,144 720 4,022 4,022 11,877 2,172 18.071 816 2,816 362 17.042 11.877 362 16,226 2,172 6,194 816 11,877 The charity allocates its governance and support costs as shown in the table above. These costs are allocated on a basls consistent with the use of resources. Movement in total funds for the ar This is statd afterchawrethefdlowng.. CyreaatiC of tanÈible fixed assets Auditors, remuneration- extwnal audit Staff t05ts Inote91 362 2.172 816 13,144
Page 19 YVONNE ARNAUD THEATRE TRusr Notes to the Accounts for the Year Ended 31 March 2025 Exce ional Fund transfers to Yvonne Arnaud Theatre Mana ement Ltd 2025 UnTestrkted Re5tr1cted & rswated Totsl Excertional furKI transfers.. Iyoduttion fvnd Restoration levyfund Creatrve leaming fulld Other 5C¥J.QX) 136.5( 8,279 754 645,537 136.504 8,279 5(1).IWJ 145,537 Taxatlon The charity is exempt from tax on income and 8airTrs falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Char8eable Gains Act 1992 to the extent that these are applied to its charitable objects. Staff Costs dl or remuneratlon and ex nses and the cost of ke man ement rsonnel 25 Wagesandsalaries al SJrity costs Other ctssts 11,873 13,144 The amount for wages and 5alarie5 for freelance staff included above was £6.1801£2024: Enill. inclusive of social security costs. Such persons are not employed on a regular basis throughout the year and do not appear in the staff numbers table (note 101. With effect from l April 2024, The Trust jointly employed both the Chief Executive and the Finance Director withthe YvonneArnaud Theatre Management company. No employees had employee benefits in excess of £60,OiX)12024: £ nill. Pension costs are allocated to activities in proportron to the related staffin8 Costs incurred and are wholly charged to unrestricted und5. No compulsory redundancies were made in the year. None of the trustees received any remuneration or expenses during the current or previous years. in their role as tru5tee5.
Page 20 YVONNE ARNAUD THEATRE TRUST ote5 to the Accounts for the Year Ended 31 March 2025 Staff costs dire¢tor remuneration and ex continued enses and the ci)St of k mana ement rsonn The key management personnel of the charity comprise the director5, the Theatre Director and Chief Executive and the Director of Finance. The total remuneration of the key management personnel of the charity was £6,964 12024.. £ nill. The average monthly number of persons employed under contracts of service by the charity during the year wa5 as follows.. 2025 2024 No Mana8ement and admlnlstratlon 11. Pension costs 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 £56912024: £nill. This cost represented payment5 to defined contribution pension scheme5 for two employees12024: nil). At the year-end a balance of Enil was due to the pension provider12024: £nil due to the pension provider). 12. Government Grants Income from government 8rants comprises performan related grants made by the local uthofity to fund the redevelopment ofthe theatre facilities rented at a commercial rate to Yvonne Arnaud Theatre Management Ltd. 13. Related art transaction5 There were no related party transartions undertaken during the year12024.' nonel.
Page21 YVONNE ARNAUD THEATRE TRUST Notes to the Accounts for the Year Ended 31 March 2025 14. Tan ible fixed assets IthId vAykln I) (Uwe) li1 At1112024 dit)n$ 217,217 242,155 518,320 1217,217) 1243,1301 I5&) At31 Vord) 2025 1519,2951 t Iwil 21r24 ¢JaryefortFEyear TraSfer uNleras*ttransfer 31 0rd) 5)25 127,7(6 L86,652 15&%7) 1187,0141 At31 2025 At Ihpril 224 89,512 242.155 331,f68 15. Debto 2025 2025 2024 2024 Taxation recoverable Trat75fer under a55et transfera8reement 2,678 12,6781 6.380 YvonneArnaud Theatre Management Ltd Transfer underèsset transferagreement 6,380 10,338 110,3381 Prepayments Transfer under aertranSferareemÈnt 38.486 138.4861 42,047 42,047 48,427
Page 22 YVONNE ARNAUD THEATRE TRUST Notes to the Accounts for the Year Ended 31 Mar¢h 2025 Cash balances of £3,572.060 were held at 31" May 202412024.. £3,612,7931. These balances were included in the asset transfer agreement effective from l June 2024, transferring all assets and liabilities to the newly incorporated charitable company Yvonne Arnaud Theatre Trust Ltd. 17. CredIto. amounts fallin due withln one ear 2025 2024 Trade creditors Transfer under asset transfera8reement 4.8001 YvonneArnwd Theatre Management Ltd Transfer under asset transfer agreement 104.0 104.018 Accruals and deferred incon Transfer underasset transferagreement 298,680 298.6 254,033 254,033 358,051 18. Deferred income 2025 2024 Opening balance at l April Amounts deferred in thè year Arnount released to incoming resource5 Transfer under assets transfer a8reement Closin8 balance at 31 March 7.528 7,528 7,528 17,5281 11,8651 5.663 7.528 Deferred income includes grants which the donor has specified must be used in future accounting periods.
Page 23 YVONNE ARNAUD THEATRE TRUST Notes to the Accounts for the Year Ended 31 Marth 2025 19. Reconclllation of Movement In total funds- Unrestrlcted funds 2025 Charltable funls 2024 Charitable fund5 Brou8ht forward at l April Incomln8 Resources Qut80ing Resource5 Transfer under asset transfer agreement Carried forward at 31 March 729,850 48,049 117.0421 760,857 604,558 293.363 1168,0711 729,8SO 20. R nclllatlon of Movemenl In total funds- De51 nated funds Aood Capltal Proiert fund 5UPPOrt fund lightlng system Tvtal Broughtforward at l Aprtl 2024 Incoming Resources Outgoing Resources Transfer under a55et transfer agreemert Carried fonMard at 31 March 2025 1,135.874 54.811 ioo,ooo 1,125 28.143 2,416,534 28,143 143,9501 141,6661 12,284 11.094,2081 152,5271 I1.) 11,153.9921 12,4CQ.7271 The Theatre support fund was created to provide financlal support to Yvonne Arnaud Theatre Management Ltd. YvonneArnaud Theatre Trust Is established to SUPPOrt the artsthroughthe provision. malntenance and support of the Yvonne Arnaud theatre premises and facilitles 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 dlrectors, to fulfil the business plan in accordance with the organisations, charf(able purposes. The dimmer Ilghting system fund was CTeated in the year ended 5 April 2018 from several unrestricted legacies received in that and the following year to help fund the replacement C05t of the dimmer lighting system. The projert was undertaken in summer 2018 and costs incurred have been caprcali5ed and will be depreclated over a ten-year period. Funds from this designated re5eNe will be amortised overthe same ten-year period. The flood excess fund was approved and created by the directors to ensure that refurbishment costs in the event of a flood, not covered by the theat,5 insurance poliry, could be met. The theatre's insurance policy no longer pmvides coverfor any flood damage costs.
Page 24 YVON14E ARNAUD THEATRE TRUST Notes to the Attounts for the Year Ended 31 March 2025 20. Reconciliation of Movement in total funds- Des. nated funds contlnued The trustees have continued their reviews of the buildin& repairs qUired and access issues. Plans We drawn up for phase one of the necessary capital works and refurbishment and capital works were started in July 2024. The designated funds were transferred to Yvonne Arnaud Theatre Trust Limited on l June 2024. 21. Reconciliatl n of Movement in total funds- Restritted funds Capltal Project fund Dimmer 118hti fund Total Broughtforward at l April 2024 Incoming Resources Outgoing Resources Transfer ut)der asset transfer agTeerneTrt Carried forward at 31 Marth 2025 447.653 4,025 40,800 488,453 4.025 11.7001 490,778 11,7(K)I 139,100 Funds of £4,02512024: £304,766> were received In the yearfrom Charitable Trusts and private donors, contributing towards the capital project campaign. Further details of the funders are provided in note 3 to the accoun Three re5trirted donatlons were reiVed from Charitable Trusts 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 being depreciated over a ten-year period. Restrirted funds re1Ve towards this project are being amortised over the same ten-year period. The restricted funds were transferred to Yvonne Arnaud Theatre Trust Limited on l June 2024. 22. Anal is of net assets between funds 2025 2025 Unr•strlrted Restrlrted & Dtsl¥noted 2025 2024 2024 Unrestri¢t•d Restricted & Desi8nated 20Z4 Total Total Tanglble fixèd assets Current assets Cash at bank and in hand 89,513 48.427 3,366,495 1358,0511 3,146,384 242.155 331,668 48.427 3.612,793 1358,051 3,634.837 246.298 488.453
Page 25 YVONNE ARNAUD THEATRE TRUST Notes to the A¢counts for the Year Ended 31 fvlarch 2025 23. Commltments under o eratln leases At 31 March 2025, the charity had no commltments under non-cancellable operatlng leases. 24. Transfer of o eration assets and liabllltles to Yvonne Arnaud Theatre Trust Llmfted The Yvonne Arnaud Theatre Trust undertook a review of the charitys governance In the year to 31 March 2024. A decision was taken to register the unincorporated Yvonne Amaud Theatre Trust as an incorporated charity limited by guarantee. The objects of the incorFM)rated Yvonne Arnaud Theatre Trust will remain unchanged-to advance the arts for public benefit through the provision, Maintenan and supportof the Yvollne Arnaud Theètre. The limited by guarantee company was registered with Companies House on 21 February 2024 (company llumber: 155104621 and received Charity Commission approval with effect from 30 April 2024 under a new chaiity registratlDn number (charity number.. 12080661. An asset transfer agreement Wa5 completed, fom)ally transferring all assets and liabilities from the old unincorporated YATTrust (charity number: 2005001 to the new incorporated YATTrust with effect from l June 2024.