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2025-03-31-accounts

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THEATRE CENTRE LIMITED (A company limited by guarantee)

Report and Financial Statements

For the Year Ended 31 March 2025

Charity number 210262 Company number 0585723 (England & Wales)

Breckman & Company Ltd Chartered Certified Accountants 49 South Molton Street London W1K 5LH

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

CONTENTS

Page
Reference and Administrative Details 3-4
Report of the Directors (Trustees) 4-11
Independent Examiner’s Report 12
Statement of Financial Activities 13
Balance Sheet 14
Notes forming part of the Financial Statements 15-22

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

Reference and Administrative Details

Constitution

The company is incorporated under the Companies Act, company number 0585723 and its governing document is its Memorandum and Articles of Association. The company is a registered charity, number 210262.

Directors and Trustees

The directors of the charitable company ("the charity") are its trustees for the purpose of charity law and throughout this report are collectively referred to as the trustees.

As set out in the Articles of Association each trustee shall hold the office for a term of three years. A trustee is eligible for reappointment for a further term of three years upon the expiry of his or her previous term of office. A trustee who holds the office for two consecutive terms shall not be permitted to hold the office for a further term unless a period of not less than one year has elapsed from the date of the expiry of the previous term of office. Notwithstanding the foregoing, the directors may by simple majority waive the One Year Restriction in respect of any director who has served two consecutive terms (and who would therefore otherwise be required to retire) if they consider (acting reasonably) that such waiver would be in the best interests of the charity.

Policies and procedures adopted for the induction and training of trustees are ongoing and incorporated indirectly into the regular trustees’ meetings.

The trustees throughout the year and since the year end, were:

Aleksa Asme
James Cooney appointed 12thJuly 2024
Titilola Dawudu
Benjamin Eva-Griffiths appointed 12thJuly 2024
Romana Flello appointed 12thJuly 2024
Frazer Flintham
Joanne Leung appointed 12thJuly 2024
Kieran Lines appointed 12thJuly 2024
David Richard Luff resigned 28thNovember 2024
Rebecca Major Chair
Karl Singporewala appointed 12thJuly 2024
Caroline Wilkes appointed 12thJuly 2024

Chief Executive

Emma Rees – Executive Director/CEO

Independent Examiners

Breckman & Company Ltd, Chartered Certified Accountants, 49 South Molton Street, London W1K 5LH.

Bankers

The Co-operative Bank plc, Skelmersdale WN8 6WT Solicitors Harbottle & Lewis, Hanover House, 14 Hanover Square, London W1S 1HP. Operation Address & Registered Office 1 Town Barn Road, Crawley, RH11 7XG

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

The trustees present their annual report together with the financial statements of the charity for the year ended 31 March 2025, which are also prepared to meet the requirements for a directors' report and accounts for Companies Act purposes.

The reference and administrative details set out on page 1 forms part of this report. The financial statements comply with 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 accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).

Principal Activity

The principal activity of the company during the year continued to be the encouragement of the arts by the production of educational plays.

Objectives and Activities

Founded in 1953 by Brian Way and Margaret Faulks, we've been a vital catalyst for youth leadership and creativity for over 70 years. In this time, we’ve commissioned 110 writers and produced 239 plays. We have played to audiences of over 1 million in schools and theatres and have worked with over 250,000 young people. Some of those young people are now working in the arts or in education teaching drama to the next generations.

We see access, equality, and representation as foundations of a fair society and work to dismantle exclusion and systemic injustice. We prioritise areas that are systemically underserved, removing economic and social barriers, and working where young people can benefit most. We celebrate the true creative diversity only the widest access can bring.

The purpose of the charity remains to promote, maintain, improve and advance education, particularly by the production of plays made with and for young people and the encouragement of the arts. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)’.

The principal strategy for achieving the stated objective is in the commissioning of new plays to tour to schools and theatres, and in running Future Makers year-round in locations across the country. Future Makers is a fresh approach to empowering young people to become artists, active members of society, and influential leaders, while helping us to tell relevant, authentic stories. Future Makers is at the heart of our work, enabling us to implement our youth-focused approach in schools and communities. Our touring shows come directly from Future Makers spaces, the engine of our ‘creative circular economy’, connecting all aspects of our work. We work with innovative writers, brilliant artists and dedicated teachers, bringing them into the heart of communities that are underserved, underrepresented and under the radar

Structure, governance and management

Theatre Centre is governed by its Memorandum and Articles of Association dated 16 March 2016. As well as being a Company Limited by Guarantee, we are registered as a charity with the Charity Commission, registration number 210262. Following a successful Trustee recruitment process completed during 2024/25, the Charity is administered by a board of eleven Trustees.

Our Board has a strong track record of inclusivity and intersectional representation across age, class, disability and ethnicity and includes lived experience of the care system. Our current Board of Trustees

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

are: 55% female, 36% Global Majority, 27% disabled, 55% under 35, and 18% LGBT+. The Board has three sub-committees: Development, Finance & Operations, Income Generation.

The day-to-day activities of Theatre Centre are managed by the Executive Director/CEO together with the Artistic Director. Remuneration for all staff is discussed and agreed annually by the board of Trustees at the point of agreeing the annual budget for the forthcoming year.

Creative programme during 2024/25

Audiences and Future Makers total reach:

New writing and Touring work:

Future Makers:

Tour of DIZZY by Mohamed Zain Dada, September to November 2024 in co-production with Sheffield Theatres touring to schools and theatres across the UK.

DIZZY resonated strongly with audiences nationwide. The total audiences for our touring work were 5,286, over 70% of whom were under the age of 21. We gave 54 performances, 32 of which were presented in 17 schools and 22 in 3 theatres (The Hawth in Crawley and Half Moon in London, plus 8 workshops and a number of talks and Q&As. Throughout rehearsals we engaged with early career dramaturgs, movement directors, and director with shadowing and mentoring opportunities and ran a rehearsal insight workshop for 15 yearly career artists.

Selected press quotes on Dizzy

“The deft direction from Rob Watt has as much to deliver as Mwen’s exceptional sound design. Hannah Sibai’s economical, beautifully sparse set and Jess Brigham’s fluid lighting plot work hand-in-glove to elevate the experience.” Yorkshire Post

"has all the makings of a magnificent piece of theatre…Qamar is a formidable protagonist, embracing her culture and diversity with verve .” WhatsonStage

“Dizzy is an exciting and incredibly relevant piece of theatre, which should be on every GCSE or A Level curriculum” Theatre and Tonic

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

"Intelligent, witty and very funny… this production is not one to be missed!” Yorkshire Times

“Dizzy is a powerful and engaging production that resonates with both younger and older audiences.” All About Theatre

"Dizzy is not only a great show, but a profound one... use of verbal and physical comedy takes Dizzy from good to great, with a fantastic number of genuinely comical moments in this deep and emotional tale...fantastic... For any teaching professionals considering taking their cohorts of pupils to this play, it is certainly worth its while." Forge Press

Students and teachers both rated the work very highly with 100% of Teachers saying that the script was Excellent or Very Good; that the production was Excellent or Very Good; that they would rebook Theatre Centre (6 or 5 out of 6). 92% of students said that the production was Excellent or Very Good and 86% said that the script was Excellent or Very Good. We also developed our integrated learning resources, Explore the Show, with input from teachers and an education specialist and created a comprehensive Resource Pack to accompany the show. Explore the Show included video contributions from all members of the Creative and Production teams to support teachers and their students unpacking the show.

As in previous years, most teachers said they were planning to use the production for the Live Performance Review element of the Drama GCSE and that the show was also useful in terms of PSHE and Personal Development. Most importantly, teachers and students talked about how Theatre Centre shows make connections with and for students and encourage them to think about and discuss issues in the wider world, both in the classroom, individually and with friends.

In their feedback, young people stressed how relatable and relevant the characters and dialogue was and how recognizable the situations and conversations were, reflecting strongly on the power of both the commitment to new writing and the process we go through to make it.

Feedback on DIZZY from young people and teachers (not individually identifiable for privacy) “I absolutely loved that. It was so good, beautiful, fantastic! There were moments where I was feeling a little bit ‘my god, this is hurting my heart’ because it was so emotional. And we were laughing too, if was so funny, the attitude…!” Young audience member

“I thought it captured young people very well. It showed how grief can impact us at any age and that people cope in their ways. It was realistic and relatable without feeling stereotypical.” Young audience member

“The acting was genuine and thought-provoking. The lighting and sound conveyed an urgency for society to understand how people feel when they lose a loved one. The relationship between the main characters was very believable, inspiring, and powerful .” Young audience member

“The show was absolutely brilliant, making almost everybody in the audience shed a tear. It was a once-in-a-lifetime opportunity.” Young audience member

“Exceptional acting, superb writing, and perfectly suited for secondary school students.” Teacher

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

Future Makers over 2024/25

We continued to develop Future Makers to support young people as creative thinkers, artists, makers, active citizens and leaders. It is the core of all our work and is the key to the way we unlock our young people-centred practice in schools and in our national and local communities.

Future Makers sees us bringing young people, artists, teachers and practitioners together to develop skills, explore big ideas and to make work together, share skills, explore big ideas and empower young people as artists, creatives, active citizens and leaders. Future Makers allows us to open up creative spaces where everyone in the room is valued for what they bring. It enables us to bring the strands of work together and creates our ‘ creative circular economy ’: nothing is wasted; ideas shared in one space can be incorporated into other work and into the new writing we tour; young people’s ideas, experience, questions and perspectives drive all of our work.

Feedback from Young Future Makers and teachers:

"This work builds confidence. It allows for industry working. It inspires new ways to collaborate for students, but also for staff. It encourages young people to speak up; to be changemakers and to be upstanding. It gives them a meaningful, authentic voice" Jan Shapiro, Headteacher, Addey & Stanhope School, Lewisham

“I really enjoyed the creativity and freedom we got from this session. Even if we got a category or theme to work within, we didn't get explicitly told what to do" Year 9 student, Crawley

"This session gave me the freedom to express myself, and to show what you're thinking in your head and to put it into a performance" Year 9 student, Crawley

"We combined all our unique voices to interrogate and dissect the material so that it can have the most impact on young people around the country.” Young Future Maker

"It was joyful and inquisitive. It was never condescending. We were expected to interrogate and engage with the texts as professionals which allowed us to meet theatre and the potential audience to a high quality and level.” Young FM

"It was super fun and extremely enlightening. I left feeling refreshed and inspired having learnt so much about the process of creating theatre." Young FM

"It inspired me to get started with some projects I thought I lost motivation for ” Young FM

"It was amazing, my first research and development for a show and it was an inviting experience that allowed me to embrace my ideas and explore my creativity” Young FM

"An unforgettable experience” Young FM

"I enjoyed every aspect of this amazing opportunity. The staff were very friendly and the group itself was pleasant to work with. The work we did was very educational and fun at the same time. I'm really

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

glad we had this chance to immerse in showmaking in our small town Crawley. I hope there will be more events like this!” Young FM

Artist in Residence pilot at Addey and Stanhope School, Lewisham, SE14

Our Artist in Residence pilot at Addey & Stanhope School, Lewisham, saw us working with students and teachers in the Science Dept. The brief was to explore the idea of creativity, how it is currently used in teaching, and how to open up the curriculum in creative ways. The report took the form of a podcast and posters that were displayed throughout the school.

Quotes from students and teachers:

“The first people doing these experiments weren’t following instructions—they were curious and creative.” Student

“If teachers don’t give direct answers and make us find them ourselves, it makes us creative.” Student

“Science is inherently creative—look at the history—but students see it as all facts.” Teacher

“Creativity doesn’t always lead to the results policymakers want.” Teacher

This work included a well-received strategic planning day for the Governors of the school:

“It was a really important day. I do feel we move forward. Your session was so powerful." Governor at Addey & Stanhope School

Continual Personal Development training (CPD) for teachers

As per the previous year, we continued to offer regular CPD session including Script Detective, Directing, and “How To...” sessions supporting teachers to get the most out of our touring work and prepare for working with their students on our touring work and repertoire of scripts.

We continued to strengthen the national community of teachers through our existing networks and teachers noted the value of direct access to professional theatre makers and peer networks.

Financial Review

National Theatre Centre continued as an Arts Council England National Portfolio Organisation in receipt of public funding. In addition to our NPO grant, Theatre Centre’s income was supplemented by the generation of earned income through touring performances, workshops and training sessions. We also prioritised developing more commercial approaches to income generation through space hire and developing a training and personal development offer for local businesses. Alongside this we are increasing income streams through philanthropic channels, fundraising from trusts and foundations, and donations from individuals, including securing a generous commitment from one major donor giving £10,000 annually.

Following several planned deficit years post-pandemic, in 2024/25 the Company had an unrestricted fund surplus of £6,755 (2024: deficit £18,328) and an overall surplus after movements on restricted funds of £4,794 (2024: deficit of £31,367). Total incoming resources of £374,157 represented a modest decrease of £1,259 over the previous year (2024: £375,416). Total expenditure of £369,363 was £37,420 lower than in the previous year (2024: £406,783), and once again demonstrating Theatre Centre’s prudent controls on expenditure in response to the ongoing challenging financial and fundraising environment. Trustees plan a full audit in 2025/6.

Our priority was to build diverse income streams rather than price the work out of reach.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

Reserves Policy

The Trustees aim to maintain a designated operational reserves fund at a level which equates to a minimum of six months of operational costs, which is £125,000. Additionally, Trustees have recently added a target to build a £10,000 designated premises fund for ongoing repairs and end-of-lease redecorating.

As of 31[st] March 2025, we had total unrestricted reserves of £138,462 (2024: £131,707), of which £125,000 has been designated as an Operational Reserve and £10,000 as a Premises Reserve, with a General Fund of £3,462. There were no restricted reserves at the year-end (2024: £1,961).

Following substantial planned investment of reserves since 2020/21 to support Theatre Centre’s ongoing commitment to be responsive to the pandemic-related needs, Trustees set the objective of achieving a breakeven budget for 2024/25, and are pleased to report a small surplus.

Staffing

There was a significant staff change in 2024/25 as Rob Watt, Artistic Director of five years, moved on to pursue freelance opportunities, leaving in March 2025. The Trustees conducted a successful recruitment campaign and Eleanor Manners joined in April 2025.

The team is currently Executive Director/CEO (f/t), Artistic Director (f/t), Programme & Admin Coordinator (f/t), Marketing Manager (p/t 0.6), Finance Manager (p/t 0.2), and part-time Tour Producer (p/t 0.4) and other freelance specialist and producing staff.

Members of the core team undertook formal and informal training and CPD. The Executive also led external training sessions and contributed to industry panels, e.g. working with Central School of Speech & Drama as part of our ongoing partnership, panels with Independent Theatre Council.

The team were encouraged to network and be active in peer networks such as Assetij UK, Drama & Theatre Education Alliance, National Drama, Participatory Arts London, PYA England, Touring & Producing Companies Network, Art-led Companies Network. The former Artistic Director was a state secondary School Governor and the new Artistic Director is an Artistic Adviser of National Youth Music Theatre. The Executive Director is a Board member of Independent Theatre Council, Vice-Chair Theatre503, Trustee Creative Barking & Dagenham (CPP).

Premises

Theatre Centre remains a tenant of Crawley Borough Council, occupying the West Green Community Space, now renamed West Green Studios. The partnership with Creative Crawley continued in 2024/25 with the development of several artist studios in the space, running during a test phase to explore the appetite and demand for a shared cultural space in Crawley, which is demonstrably very strong, and to develop a sustainable financial model, which is emerging but still proving challenging in a complicated funding landscape.

‘Investment has enabled me to have an outlet to develop my interest in moving from a national to local practice, artist led to community centred and explore how wellbeing can fit within this.’ Resident Artist

Environmental Sustainability

In 2024/25 our total emissions were 3.25 tonnes CO2e, which shows a slight fall on 2023/24. 2024/25 was our fourth consecutive year at Net Zero, using offsets to bridge the gap between reduction, reuse, recycling and zero emissions. To allow for underreporting and unreportable emissions through our supply chain, we doubled our known CO2e emissions and purchased Gold Standard offsets. We recognise this is not a perfect system and continue to prioritise reductions.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

Our ES Policy supported activity across all operational and production areas, using the Theatre Green Book and report to Arts Council annually. We routinely included an Environmental Sustainability clause in all employment contracts, core and freelance and ran in-house training sessions to introduce team members and freelance staff to the Green Book, as well as including ES as an agenda item in all team and production meetings. In 2024/25 we maintained Theatre Green Book progress of Intermediate on Productions, Intermediate on Operations and Basic on Buildings. Our energy contract provides 100% renewable electricity and carbon neutral gas.

Policies

We have a full range of polices (including all required by Arts Council England). We are a Disability Confident Employer and an ITC Ethical Employer (now ITC Fair Pay Approved). We use the Theatre Green Book, the Anti-Racism Touring Rider and take Anti-Ableism action.

Data management & Privacy

Our GDPR systems continue to function effectively. In 2024/25 we had no data breaches and processed no requests for the removal of images or data records. GDPR is reported on each week in team meetings and at each Board meeting.

Risk Management

Trustees have systems to identify and mitigate any major risks to which the organisation may be exposed. The Company updates its Risk Register annually, with more regular review when circumstances require. This is scrutinised at Board meetings and monitored regularly by the Finance & Operations Sub-Committee (FOSC). Arts Council continues to classify our risk as Minor.

Future Plans 2025/26

During 2025/26, we will:

In 2024/25 we analysed recent tour booking data, assessing our position within our school networks. Improved data capture allowed us to evidence a number of encouraging trends with schools over the course of the last four tours and useful insights for future planning.

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

Statement of Trustees' Responsibilities

The trustees (who are also directors of Theatre Centre for the purposes of company law) are responsible for preparing the Trustees' Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year, which give a true and fair view of the state of affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the year. In preparing these financial statements, the trustees are required to:

The trustees are responsible for keeping adequate 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 Companies 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.

The trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

In so far as the trustees are aware at the time of approving our trustees' annual report:

Small Company Exemptions

This report is prepared in accordance with the provisions of the Companies Act 2006 relating to small companies.

This report was approved by the Board of Trustees on 18th September 2025 and signed on its behalf by:

Rebecca Major Chair of the Board of Trustees

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

Independent Examiner’s Report to the Trustees of Theatre Centre Limited

I report on the accounts of the charity for the year ended 31[st] March 2025, which are set out on pages 13 to 22.

Respective responsibilities of trustees and examiner

The trustees (who are also the directors of the company for the purposes of company law) are responsible for the preparation of the accounts. The trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 (the 2011 Act) and that an independent examination is needed.

The charity's gross income exceeded £250,000 and I am qualified to undertake the examination by being a qualified member of The Association of Chartered Certified Accountants.

Having satisfied myself that the charity is not subject to an audit under company law and is eligible for independent examination, it is my responsibility to:

Basis of independent examiner's statement

My examination was carried out in accordance with general Directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as trustees concerning any such matters. The procedures undertaken do not provide all the evidence that would be required in an audit, and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.

Independent examiner's statement

In connection with my examination, no matter has come to my attention

  1. which gives me reasonable cause to believe that in, any material respect, the requirements: · to keep accounting records in accordance with section 386 of the Companies Act 2006; and · to prepare accounts which accord with the accounting records, comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Statement of Recommended Practice: Accounting and Reporting by Charities have not been met; or

  2. to which, in my opinion, attention should be drawn in order to enable a proper understanding of the accounts to be reached.

Richard Nelson FCCA Breckman & Company Ltd Chartered Certified Accountants

49 South Molton Street London W1K 5LH

18[th] September 2025

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Theatre Centre Limited (Limited by Guarantee)

Statement of Financial Activities (including Income and Expenditure Account) For the year ended 31 March 2025

Notes
Income
Donations
3
Income from charitable activities
4
Investments
5
Other
6
Total incoming resources
Expenditure
Raising Funds: Fundraising costs
Charitable activities
7
Total expenditure
Net Movement on funds
8
Reconciliation of funds:
Total Funds brought forward
Total Funds carried forward
18		 Unrestricted
Funds
Restricted
Funds
Total
2025
£
£
£
259,294
-
259,294
77,086
3,499
80,585
1,265
-
1,265
33,013
-
33,013
370,658
3,499
374,157
9,659
-
9,659
354,244
5,460
359,704
363,903
5,460
369,363
6,755
(1,961)
4,794
131,707
1,961
133,668
138,462
-
138,462		 Unrestricted
Funds
Restricted
Funds
Total
2024
£
£
£
249,416 -
249,416
59,240
32,491
91,731
2,340
-
2,340
31,929
-
31,929
342,925
32,491
375,416
14,218 -
14,218
347,035
45,530
392,565
361,253
45,530
406,783
(18,328) (13,039)
(31,367)
150,035
15,000
165,035
131,707
1,961
133,668

The notes on pages 18 to 25 form an integral part of these financial statements.

The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derives from continuing activities.

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Theatre Centre Limited (Limited by Guarantee) Balance Sheet as at 31 March 2025

Notes
Fixed Assets
Tangible assets
12
Current Assets
Stock
13
Cash at bank and in hand
Debtors
14
Liabilities
Creditors: amounts falling due within one year
15
Net Current Assets
Total Net Assets
The funds of the charity
18
Unrestricted funds
– General Funds
– Designated Funds
Restricted funds		 2025
£
1,151
2,644
79,176
67,602
149,422
(12,111)
137,311
£ 138,462
3,462
135,000
138,462
-
£ 138,462		 2024
£
619
1,704
82,426
72,631
156,761
(23,712)
133,049
£ 133,668
-
131,707
131,707
1,961
£ 133,668

The notes on pages 15 to 22 form an integral part of these financial statements.

For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

· The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476;

· The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions of the Companies Act 2006 applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees on 18[th] September 2025 and signed on its behalf by:

Rebecca Major Chair of the Board of Trustees

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THEATRE CENTRE LIMITED Notes to the Financial Statements for the year ended 31 March 2025

1. Accounting Policies

The principal accounting policies adopted, judgements and key sources of estimation uncertainty in the preparation of the financial statements are as follows:

a) Basis of preparation

The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice (issued in October 2019) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019 – (Charities SORP (FRS102)) and the Companies Act 2006.

The charity meets the definition of a public entity under FRS102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s).

b) Fund accounting

Funds held by the charity are either:

c) Incoming resources

All incoming resources are included in the Statement of Financial Activities when:

- Donations and legacies

Grants/donations are recognised in incoming resources in the year in which they are receivable, except as follows:

- Charitable activities

Theatre income: income from box office, performance fees and sundry other theatrical income is included in incoming resources in the period in which the relevant show takes place.

Project specific funding: when donors specify that donations and grants are for particular restricted purposes, which do not amount to pre-conditions regarding entitlement, this income is included in incoming resources of restricted funds when receivable.

- Donated services and facilities

Donated services or 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

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THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

1. Accounting Policies (continued)

use by the charity of the item is probable and that economic benefit can be measured reliably. On receipt, donated services and 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 services or facilities of equivalent economic benefit on the open market; a corresponding amount is then recognised in expenditure in the period of receipt.

- Investment income

Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the charity; this is normally upon notification of the interest paid or payable by the Bank.

d) Expenditure

All expenditure is included on an accruals basis inclusive of any VAT which cannot be recovered and is recognised when:

- Costs of raising funds

Costs incurred in attracting donations, and those incurred in trading activities that raise funds.

- Charitable activities

Production/project costs: costs incurred in the production and running of productions toured in the year.

- Support costs

The administrative and overhead costs associated with running the office from which the company operates as well as governance costs. Support costs are wholly attributable to theatre production costs.

- Governance costs

Costs associated with the constitutional and statutory requirements of the charity.

e) Fixed assets and depreciation

Individual fixed assets costing £500 or more are capitalised at cost. Depreciation/amortisation is provided at annual rates calculated to write off costs less residual value over their estimated useful economic lives as follows:

Website 33% on cost Motor vehicles 25% on cost Production/Office equipment 33% on cost Computer equipment 33% on cost

f) Stock

Stock is valued at the lower of cost and net realisable value.

g) Debtors

Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking into account any trade discounts due.

16

Docusign Envelope ID: 03312D49-F392-4A4C-9AAB-904B5A1F50BC

THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

1. Accounting Policies (continued)

h) Cash at bank and in hand

Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

i) Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

j) Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value, and subsequently measured at their settlement value.

k) Leasing

Rentals payable under operating leases are charged to the income and expenditure account on a straight line basis over the lease term.

l) Pensions

The company operates a defined contribution scheme and the pension charge represents the amount payable by the company to the fund in respect of the year.

m) Significant Accounting Estimates and Judgements

In determining the carrying amounts of certain assets and liabilities, the charity makes assumptions of the effects of uncertain future events on those assets and liabilities at the balance sheet date. The charity's estimates and assumptions are based on historical experience and expectation of future events and are reviewed annually.

2. Incoming resources

The total incoming resources for the year have been derived from the principal activity undertaken wholly in the UK.

3. Income from Donations
Grants
Arts Council England - National Portfolio funding
Donations
Individual giving
4. Income from charitable activities
Earned income (unrestricted)
Performances & workshops
Co-productions
Space hire
Other income		 2025
£
244,416
244,416
14,878
£259,294
28,557
30,000
18,275
254
£ 77,086		 2024
£
244,416
244,416
5,000
£249,416
19,999
30,000
8,660
581
£ 59,240

17

Docusign Envelope ID: 03312D49-F392-4A4C-9AAB-904B5A1F50BC

THEATRE CENTRE LIMITED

Annual Report and Accounts For the Year Ending 31 March 2025

4. Income from charitable activities (continued)
Project specific funding (restricted)
Grants
Arts Council England – Transfer feasibility study
Backstage Trust
John Thaw Foundation
5. Investment income
Bank interest
6. Other income
Theatre Tax Relief
7. Expenditure on charitable activities
Production & project costs
Production costs
Salaries
Fees
Social security costs
Pension costs
Future Makers programme
Royalties & writers’ fees
Touring allowances, accommodation & subsistence
Travel & transportation
Marketing
Educational resources
Support costs – pages 21-22
Governance costs – page 22
Support costs
Office overheads
Office rent & storage
Telephone & internet
Insurance
Repairs, renewals & cleaning
Computer & equipment maintenance
Depreciation of equipment		 2025
£
2,499
-
1,000
£ 3,499
£ 1,265
£ 33,013
14,692
50,185
55,170
3,087
3,534
6,000
6,736
20,158
5,805
8,858
830
175,055
177,950
6,699
£359,704
26,500
542
4,959
7,912
3,301
812
44,026		 2024
£
22,491
10,000
-
£ 32,491
£ 2,340
£ 31,929
17,057
73,949
48,437
5,037
4,045
17,578
9,303
17,271
6,798
10,252
-
209,727
178,004
4,834
£392,565
25,416
938
3,916
3,212
5,038
364
38,884

18

Docusign Envelope ID: 03312D49-F392-4A4C-9AAB-904B5A1F50BC

THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

7. Expenditure on charitable activities (continued)
Administration costs
Salaries & wages
Fees/services
Social security costs
Staff pension costs
Staff training & welfare
Staff recruitment
Accommodation & subsistence
Travel
Premises costs
Relocation costs
Printing, postage & stationery
Conferences
Theatre tickets
Subscriptions & memberships
Sundries
Professional & financial
Bank charges
Total Support costs
Governance costs
Board expenses
Accountancy
8. Net expenditure for the year
This is stated after charging:
Depreciation of tangible fixed assets
Independent Examiner's remuneration:
Independent Examination
Other services
9.
Analysis of staff costs, trustee remuneration and expenses,
management personnel
Salaries and wages
Social security costs
Pension costs		 2025
2024
£
£
99,328
105,467
8,400
3,850
6,109
7,190
4,860
4,985
1,340
404
661
-
685
-
2,022
1,730
8,032
6,571
-
5,891
569
675
79
-
106
146
1,226
1,115
472
1,096
133,889
139,120
35
-
£177,950
£178,004
1,699
234
5,000
4,600
£ 6,699
£ 4,834
2025
2024
£
£
812
364
4,000
4,000
1,000
600
and the cost of key
2025
2024
£
£
149,513
185,609
9,196
12,600
7,316
9,073
£166,025
£207,282		 2024
£
105,467
3,850
7,190
4,985
404
-
-
1,730
6,571
5,891
675
-
146
1,115
1,096		 2024
£
105,467
3,850
7,190
4,985
404
-
-
1,730
6,571
5,891
675
-
146
1,115
1,096
139,120
-
£178,004
234
4,600
£ 4,834
£207,282

19

Docusign Envelope ID: 03312D49-F392-4A4C-9AAB-904B5A1F50BC

THEATRE CENTRE LIMITED Annual Report and Accounts

For the Year Ending 31 March 2025

9. Analysis of staff costs, trustee remuneration and expenses, and the cost of key management personnel (continued)

The average number of employees, including casual and part-time staff, during the year were:

Producing & production staff
Support staff		 2025
1
3
4		 2024
2
3
5

No employee received employee benefits in excess of £60,000 during the year (2024: nil).

The key management personnel of the charity comprise the Trustees and the Senior Management Team. The total employee benefits of the key management personnel of the charity were £99,773. (2024: £102,441).

No trustees received remuneration during the year (2024: £nil).

The aggregated amount reimbursed to trustees during the year was £nil (2024: £nil).

10. Pension costs

The company operates a defined contribution pension scheme in respect of its employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £7,316 (2024: £9,073).

11. Corporation 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 to its charitable objects.

12. Fixed Assets – tangible assets

Cost
1 April 2024
Additions
Disposals
31 March 2025
Depreciation
1 April 2024
Charge for Year
Eliminated on disposal
31 March 2025
Net Book Values
31 March 2025
31 March 2024		 Office
Equipment
Motor
Vehicles
Computer
Equipment
Total
£
£
£
£
7,565
27,700
560
35,825
928
-
416
1,344
-
-
-
-
8,493
27,700
976
37,169
7,210
27,700
296
35,206
487
-
325
812
-
-
-
-
7,697
27,700
621
36,018
£ 796
£ -
£ 355
£ 1,151
£ 355
£ - £ 264
£ 619

20

Docusign Envelope ID: 03312D49-F392-4A4C-9AAB-904B5A1F50BC

THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

13.
Stock
Play texts
14.
Debtors
Trade debtors
Other debtors
Prepayments & accrued income
15.
Creditors: Amounts falling due within one year
Trade creditors
Accruals
Other creditors
Social security & other tax
Deferred income (note 17)
16.
Deferred income
Balance at 1 April 2024
Amount released to incoming resources
Amount deferred in the year
Balance at 31 March 2025		 2025
£
£ 2,644
2025
£
1,560
13,250
52,792
£ 67,602
2025
£
4,701
5,919
-
1,491
-
£ 12,111		 2024
£
£ 1,704
2024
£
11,443
13,250
47,938
£ 72,631
2024
£
8,776
5,702
1,842
6,982
410
£ 23,712
£
410
(410)
-
£ -

Deferred income represents space hire fees received in advance.

17. Limited by Guarantee

The company is limited by guarantee and does not have share capital. Each member gives a guarantee to contribute a sum, not exceeding £1, to the company should it be wound up. At 31 March 2024 there were 5 members.

were 5 members.
18. Analysis of charitable funds Balance
Transfers		 Funds
1 April between 31 March
2024 Income Expenditure Funds 2025
£ £ £ £ £
Analysis of movements in unrestricted funds
General Fund - 370,658 (363,903) (3,293) 3,462
Designated funds:
Operational fund 125,000 - - -
125,000
Premises fund 6,707 - - 3,293 10,000
Total unrestricted funds £ 131,707 £ 370,658 £ (363,903) £ - £ 138,462

21

Docusign Envelope ID: 03312D49-F392-4A4C-9AAB-904B5A1F50BC

THEATRE CENTRE LIMITED Annual Report and Accounts For the Year Ending 31 March 2025

18. Analysis of charitable funds (cont’d)
Analysis of movements in restricted funds
Arts Council England (transfer feasibility)
John Thaw Foundation (Future Makers)
Total restricted funds
Total Funds		 Balance
1 April
2024
Income
Expenditure
Transfers
between
Funds
Funds
31 March
2025
£
£
£
£
£
1,961
2,499
(4,460)
-
-
-
1,000
(1,000)
-
-
£ 1,961
£ 3,499
£ (5,460)
£ -
£ -
£ 133,668
£ 374,157
£(369,363)
£ -
£ 138,462

Designated Funds

The Operational fund is to cover six months of core operational activity in the event of any unforeseen direct charitable and administrative costs, which may be incurred through the loss or reduction of a major income stream.

The Premises fund is to cover any significant repairs and end-of-lease redecorating of our premises.

Restricted Funds

Arts Council England (Transfer feasibility) . This grant is to support Transfer recipients in assessing options and planning for relocation outside of London.

John Thaw Foundation (Future Makers). This grant is to support of our work with underprivileged and disadvantaged young people.

19. Analysis of net assets between funds

Fund balances at 31 March 2025 are
represented by:
Fixed assets
Net current assets/(liabilities)		 General
Funds
Designated
Funds
Restricted
Funds
Total
£
£
£
£
1,151
-
-
1,151
5,161
135,000
-
140,161
£ 6,312
£135,000
£ -
£ 141,312

20. Financial Commitments

At 31 March 2024 the company had total future commitments under non-cancellable

operating leases as follows:

2025 2024
£ £
Due:
Within one year 26,500 26,500

21. Related Party Transactions

During the year the company had no related party transactions that require disclosure.

22