Company registration number.. 591781 Charity registration number.. 211361 The Stables Trust Limited (A company limit¢d by guarantee) Annual Report and Financial Statements for the Year Eryl¢d 30 Sepmbet 2025 'AEOTXV66 2411LV2025 COMPANIE5 HOUSE Illllll
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Manningtons 39 High Street Battle East Suss¢x TN33 OEE
The Stables Trust Limited Contents Reference and Administtative Detsils Trnstees, Rqjort 2to5 Statement of Tn¢s, Responsibilities IndepelldEDi ExamiD&5 Report Sratement of Financial Aetiviiies 8t09 Balance Sheei 10 Notes to thc FInala1 Statements 11 to21
The Stables Trust Limited Referen¢e and Administrative Details Chairma Neil SellmaD. Chairnjan Trwtees Ha1¢1 Davey, Secretary David Harding Stsart Baillic Hugo Trebels Christsne wattinOn Caioline Saint Vire Benjamin Randall The Stables Theatre High Str¢¢t Hastings East Sussex TN34 3EY Reglstered Offitè The charity is Incor[led in England ond Wales. 591781 Company Registratlon Number Charlty Registration 211361 Bankers National Wrsttninstcr BaDk plc Havelock Road Hastings TN34 IBW Hampshir¢ Trust Bank PO Box 74(K)3 London EC2P 2QR ManniDgions 39 High Street Battle East S&SeX TN33 OEE Indepettdttht Exqminer Page I
The Stsbles Trust Limited Trustees, Report The tntstees, wtrlo dtr¢ctors for the purpos¢5 of npanY law, preseni the 8Dnual report together with th¢ fiDaDcial statemenls and audiiors, report of the charithble company for ihe year ended 30 Sepiember 2025. Obje¢tlves ind ttiviti¢s Objects and aims The objecrs of the charity aTe the preservation of The Sthbles. building and ihe education of the publtc in the dramalie arts. The chariry owns and occupies The Srables, building_ Having initially restored the Ihen derelici Grade 2 Itsred building and conv¢rted ti into a th¢atre and arts centre, the chaTity continues to maintain and operate li. Obieeiives. sirrtr¢gies 4nd rt¢tivities Th¢ StraY of the cbarity is to provid¢ th¢ publi¢ with oppwtiiIiities to ¢xp¢ri¢Dce the dramatic arts at ail levels, whether as direci participattts or audience. and at affordable cost. The Stables venue is operar¢d entirely by volunt¢¢r members wbo undenake all the wks associaied with a theatre aDd ans ceotre. such as stsge management, set design and buildin& lighting and sound, wardrobe. art gallery n]anagemen4 box officc, bar and front of house duties. FOI those wi5hin¥ to act or direct the chan.ty an &tnateur"group which Produces 9-[0 play5 uch ye4r io a very bigh standard aThJ is a member of Ihe Littl¢ Theatre Guild ol Greai Bri1n. In addition to these plays. touring 8nd other professional producrions are 5ge the fa¢iliiies are rnade available to other local amateur 2nd cornmunity groups. art exlubiiTrons are held each rtK)nth in the gallery ind wotk5hops and other items are programmed. P4bli¢ benefit The trustees confirm that Ihey have complied with the reguiremenL8 of section 17 of th¢ Chariries Act 2011 to have due regard the public benefit guidance b]iShed by the Charity Cornmission for England and Wale&. Structsre? governan¢e and manag¢m¢n¢ IVo¢¥r¢ of8ovrrn¢ng docMmi¢irl The Stables Trust LIlled is a COTnpany limiied by guardntee governed by its rnemorandurn and 3rticles of associ10. It is TeEisi¢red as a cbarity with lh¢ ChStY Commission. Aoyone over the age of 18 call become a [neMb of th¢ company and ther¢ are CUTTently at)ui 1,8(K) member& Recruitment tTnd appointhientoftrustees Trustees are elected a1U¥llY by the members of the charitable company atteDdiDg the Annual GeD¢ral M¢¢ting. All n)ernbers are circulated with iDvitstions to nominate ttustees pnor to the AGM advisiDg them of the retiring truste¢s and requesting nominations for the AGM. JAdMaion 4TndtruiMing oftrMsÉees New tsust¢¢s undergo an orientatioll sesslon to brief them QD th¢ir legal obligations und¢r chaTity and company law, lh¢ content of th¢ m¢morandum aDd ani¢les of association, the decision making processes, th¢ busiDe5S plan and recertt faclaI trforrnance of the charity. They will bB given a tour of the building and all outline of Ihe work of the various depamienrs. Arrwig¢M¢n¢sf•r sethng key mau4gemeAkper50nMel remunemtion The charity doe5 not employ any illdkvKluals. all trust5 a1 key management contribut¢ rbeir tirne on a voluntary basis. Page 2
The Stables Trust Limited Trustees. Report Orgonis41ional str¥eiMre The council of management (the trustees) meets regularly to admillistrr the cbaTity. Day to day operatiojj of the th¢atr¢ is in th¢ Iwids of various dep3rtnlaI groups ¢xh of which has a Enttt link to th¢ council. Generol RiskMorta8emenl The trust¢es have a tisk management Strategy wbich ¢ompns¢s an ongoing revicw of the risks th¢ Charity may face.. tbe cstablishmcnt of Systems and proccdures to mitigatc the identified risks: and the implernentation of procedures designed to minimise any poteniiai impaci on the charity should ihose risks maierialise. Dlsclosure of ithforrnation to *uditDr Each trustee has taken sieps that they ought ro have taken as a trust¢e in order to make thems¢lv¢s aware of any rel¢vznt audit infomjation attd to esthbljsh that the cbarity's audjtor is aware of tbai Inf0mti0ty. The trustees t]r that there is no r¢levani iofornthiion that th¢y know of and of wbith they know the auditor is unaware. Achievements 4nd perfonn•nee Girl on A Trnin, 51age adapthtion by Rachel Wagsthff & Duncan Abel. based on the book by Paula Hawkins opened our 2024125 S¢aSOD. This along with UneXpted Gu¢5t by Agatha Chrisu¢ gave the thea¢re a great financial sthrt the year. In b¢tween th¢s¢ two shows the Stables & CbrÉs New joiDily prothjced, with The Stables Actors Group, a week long festival dedicated to Tennessee Williams. AD Evcnirtg with Teon¢ssee Williams showused ttvo onc act plays, Talk to me of Rain and Auto Da Fe and the artiStilY a¢¢]aitned Glass Menageric. 2025 opened with the beautifully stsgfyj and acied After Miss Julie by Patrick Marber wirh the equally enihTalling Mayfly by Jo¢ White following in March. A new venture for June 2025 - 'Stsbles Theatse Scene and Heard FeIval 2025 - Led by Wornen., workshops. exbibitjOlk5 al perfonnances all led by women proved to be an extremely su¢¢e$sl evenr for the Theatre. This event enabled us to attta¢t sp0nsotsb1t fidIng and bas paved the way foi future Scene and Heard Festivals. Next year we will be iyorking with Royal Holloway UniveIty on'Tellillg Lo¢al Stories. a llationwide project. The Turn Of Tbe Screw, a Dew adaptation by Tim Bla¢kwell. writlen especially for the Stsbles Theatre prtsved to be both an artistic and ftnancial success. 1066 Youth Theatre retyrned wilh art excilittg. origirtal show which took ihe audience into the dramatic world of Ihe highly popular Penny Dreadfitl stories of the Gothic ¢ Wriiien by Niatl and Jess Ward. The production was ¢ntirely supported by a young teehnical team. The UThstable Ensemble (our tr)0 old foT youth tbea¥re grovp) Tetwntd kn the theatre with a stll oui produciioD of 'li's the End of the World and l am Srdl io The closet. a devtsed pic¢c written and directed by the group under the wat¢hfvl eye of Daisy liussell. This productioo sp)nsored by the 'chael Boakes Legacy. Th¢ season c105ed with A Single Man. by Sirrth Reade based on the book by Christopher Isherwood and ThE One Good Thing by Joe BrdVaCO winner of the 2024 Trlew WTiting wmpEtilion- greai acting in boih pixes. Pa8c 3
The Stables Trnst Limited Trn5tees' Report tmprov ai the S(abl¢s has now been Fuuning for & year and their audiences have beeo 8rowiti& they are even begiDning to tour. Stani51avsky, Athirnal Swdy 8j Th¢ Actor and th¢ Target workshops hav¢ bc¢n fxiLitat¢d at th¢ th¢atr¢. This season w¢ were able to welcome Jeff Graves, Vanessa CoaK Adam Buniing-smith. Jane Midwinter and Tim Blackw¢ll &% TMV directors to th¢ th¢atre. The Youth Boord continue to work behind the s¢enes ?rran8ing and PTesenting workshops for young people, this group have fflanaged to 5ccure fundiu8 throughout tbe year. whKh has rneant that all youtb projects have been free of ¢harg¢ to participants. There has been a frasibiliry swdy catried out on the Gwell Watford Gallery and it is planDtd that work on turning it into a perforniiDg space wiu commence at the kwnning of January 2026. Exterior work and redecor8tlOD was carried out to the theatr¢ during Au8USt. the Gw¢n Watford gallery windows were reconditioned ID September. We ère hoping the reflective film that has been added to the glass will make th¢ summv heal I5 intea5e in the gallery. We have played host to a number of pie¢ts of new writing Jusr for Forever, The Good Thing, Bard Times, The Tum of The Scrtw. Penrty Dreadfuls. Follow The Eyds. Behind The W&shin8 Lrnt and Sir. We have been part of the research and dev¢lopment phase of HEY Gty)d Lookn"Dg. Mettle ai]d 15 that a Whip in Your Hand and played h05t to a number of local aThl touring produ¢tion companies, Same Page Prcmjuctsons, Dyad and Fet¢b Theatre. putting us at the forefront of supp)nittg new work. The Thearre is now also recognised &$ a music venue hosting Nighi & Spiers, Stealer, Jason McNiff, Rauti Piano Trio. Apollo's cabit)ei Prologue Opera and Toby BarellT & King Size Slim and recently the stage for IndiTa May's new music video. None of the above lists are exhaustive. We ¢on¢inue the challenge of making thE theatre sustainable tmjth financially aud operdtl0n]y. A special thank you to members of tbe Council and Producing Tea Niall ¥Dd Barbara for their work with Youth Th¢atte. Claire for her work with Youth Board. Ingrid for h¢r work In tbe Gallery. Jane. VaThe55a and Jrnlly foi their ¢ommi¢tnent to the Scene aDd Heard Festsval. m¢mtw of the box office. Bar. Front of House and backstag¢ Teatn5 without whom the th¢atr¢ would noi fijncuon. Special Ihank5 go to Caro, Lynd4 Chrisiine, June. Manin, Colin. Cliff. Per. Sam. Anni4 Frank, Dave and special thanks to Hugo for being a superb Treasurer, we all wish you well for the future. Volunieers will alway5 be the backbone of the thtstre and the main reason we can exist, they mak¢ th¢ theatre sucb a jewel in our comrnuuity, Thank yo For those of you who have been to the The4tr¢ this season, Ihank you for your support. I hope you h4ve found it a w¢l¢oming, inclusive and exciting place to be.. Page 4
The Stables Trust Limited Trustees, Report Fin*n¢i&l revi¢Tv . Policy on reserves By having a policy of operating entirely with volunteers the charity is able io meet th¢ nonnat njnning costs of its activiti¢s wjthout tht need for reÈular grant funding. Howcvcr, Lt is the policy of the trustees to mailltain free reserves of £55.000 to cover possible emergency repairs to the buildillg and other contingeDCieS. The actual free reserves at the year end datr, that is funds which are not restricteil or represented lyy fixed assets or designated by the iwstee5 for a particular puwjse. were £252.740. which the twustee5 consider is satisfactory. IHvesimenÉpoliLy 4ndtpbieclive5 Under IhE eoradUM and articles of 3550ciation the chariry bas the power to iovest in any way the stetS wish. The tnjstees. having regard to the liquidity requiternents of operating the theatre and to the reserves policy. h&ve operated a rM)li¢y of keeping availabl¢ funds iti an Inre$l bearing deposit account whicb pays rate of interest as close as possible to the rate ofinflation. Page 3
The Stables Trust Limited Statement of Trustees, Responsibilities The trustees (who are also the dlrectors ol The Stables T[t Littiited for the PUTPOS¢5 of wmpaDy law) are re5poDsible for weparing the It1¢¢5. report and tbe fman¢ial slemen1$ in a¢¢oidance with applicable law and United Kingdorn Accounting Smndards (United Kingdom Generally Accepied Accounttng Practice), including FRS 102 "The Financi&l R¢poniftg Standard appliuble in th¢ UK 8nd Republi¢ of STelafftd'. Company law Tequir¢5 tbe trus¢ecs to prepa fu)an¢ial ststements for each fiTJotscial year. Under company law the tn]stees must not approve the financial statements uoless tbey are satssfied that tbey give a truc and fair view of the state of affairs ol the charitable company and of the in¢oming r¢source5 and appli¢aiion of r¢sources. including its income aDd expEDdiDJre, of the charitable company for that period. In prqjaring th¢se finaocial statements, the mistees are required 10.. select suitable a¢ntIng poli¢i¢s and apply them consis*ntly; obste the methods atsd prirtciples in the ChltIeS SORP. make jud8emcnts attd cstimatcs that art ffra50nablt and prudent" state whether applicable accounting standards, comprising FRS 102 have been followrt subject to any rnaieTi31 d¢panLW disclosed and explaiDed in the fioaociai srarements; and prepare the finanGial statements the going wncern basis lleSS it is in8ppropriat¢ to presume that the charitsble company wiIl ¢ontinu¢ in business. The trnsttts are responsible for keeping proper accounting record5 that can disclose iyith reasonable accuracy at any time the financial position ofthe tharioble company and enable (hem io eDSUrt tbat the finanei#l statements comply with the Companies Act 2006. They are also responsible for 5aleguardiDg the assets of the charitable company and hence for thking reasonable steps for IhE prevention artd deteciion of fraud and oiher irregulariiies. The thjstees are iesponsible for the inaintenan¢¢ and int¢grity of the coOrdte and financial infottnatLQD included on the cknaritable compan$ website. txgislatioD governing the preparation and dissemination of fIllancial statements may differ from legislatiott io othcr jwisth"ctions. prov¢d by the Irustees of the charily on . signed on its behalf by.. il Seliman Chairman Page O
The Stables Trust Limited Independent Examiner's Report to the trustees of The Stables Trnst Limited {'the Company,) I report tt> the Charity ITUSte¢s on my ¢xamiDation of th¢ xcouots of th¢ Company for the year eDd¢d 30 Sqjteinber 2025. R¢spon$ibiliti¢s and basis of report As the charity's trustees of the Company (and also its directors for the purtM)ses of cornpany law) you are responsible for the preparaiion of the a¢¢ounts in accord3ncc with the r4uiremcthts of the Companies Art 2006 ('the 2(KJ6 Act.). HaviTL8 satisfied mysclf that tbe accounts of the Company arc not required to be audited under Part 16 of the 2006 aJ)d are ellble for independent examiDatioN I report in respect of my examinaiioD of your charity'5 acwunts carried out under S¢¢Lion 145 of the Charities A¢r 2011 ('the 2011 A¢t'). Jn carrying out my examination I have followed the Dir¢¢iions giv¢n by the Charity Commission uNler section 145{5)(b) of the 2011 A¢¢. Independent ex#mlts¢r's $¢atemeDt I have COllLpleted my ¢xarninatlOD. I confinD that no matlers bav¢ o)me to my aueniion in ¢onne¢iion with the exa]nin8tion givin¥ rne Cause believe: l. accounting recoTds were not kept in respect of The Stsble5 Tnl Limited 85 requtred by s¢ctioD 386 of the 2006 Act,. or 2. the accounts do not aOrd wilh those recoTds.' or 3. th¢ accoullrs do noi comply with the accowiting requircrnents of section 396 of the 2006 A¢t other tha any requirement that the accounts give a 'ttwe and fair Vic w"(h is no¢ a mattel considered as part of an iDdrpeudent exatDiiiation' or 4. the accounts have noi been prepared in accoTdaoce with the method5 and priticip1¢5 of the Stst¢ment of Recommended Practice for accouniing and ieporting by chariti&% [applicable 10 charitie5 prep8ring their a¢counts in accordan¢e with the Financial Reporting Stsndard applicable Tn the UK and Republie of Ireland IFRS 102)]. I have no ¢on¢erns and have Come acros$ no other matters in connection with the ¢xarnination io which all[lOn should be dra in this r¢port ID Order to ¢nable a proper understsnding ofthe accounts to be Ih¢d. R Wa15h FCCA 39 Higb Street Battle East Sws¢x TN33 OEE Page 7
The Stsbles Trusl Limited Staternent of FinanciAI Activities for the Year Ended 30 September 2025 Oncluding Income 2nd Expenditure Account and Stalement of Total Recognised GAins and Losses) UDr¢stri¢ted Restricted fund5 Total 2025 - Note Incorne and Endowntents from: Donations and legacies Charitable activities tnvestment income 23.770 186,941 5.20 17,081 40,851 186,941 3,020 Total income 213.731 17.081 230.812 Expenditllrt on- Charitsble aciivities (198.460) (2,468) 200,928 Total expendhture (198,460) (2.468) (200,928 Net sncome. 15,271 14,613 29,884 Net movement in fundi 15271 14,613 29.884 R¢¢fjDciliation of funds Totsl funds brougbt fonward 521.237 20.535 541.772 Total funds carried fon¥ard 16 536,508 35.148 571.656 The notes Oll pages I I to 21 forni an ini¢gral part of these financial seMents. Page 8
The Stables Trust Limited Statement of Flnancial Aetfivities for the Year Ended 30 Septernber 2025 (Including Income 2nd Expenditure Ae¢ount 2nd Statement of Tot21 Recognised Gains and Losses) Unrestrieled [d$ Restrietsd lunds TotAI 2024 Note Ineomt #nd Endowments frnm: Donations and legacies Charitsble activities Jnveslment income 34,543 179271 2.328 34.543 179.271 2.328 Total income 216,142 216,142 Expenditre OD: Charitsble activities 01.291 1,225 202.516 Total expenditure 201,291 (1,225 (202,516 Net income/(expenditure) Nei movement in funds 14.851 (1.225 13.626 4.851 (1.225) 13.626 Reconeillation offund5 Totsl fijnds brought forward 506.386 21,760 528,146 Total funds carried forward 16 521.237 20,535 541,772 All of the ¢h#rity'S activiti&s derive from continuin8 operations during the above rwo periods. The fundg breakdown for 2024 is shown in note 16. The notes ou pages I I to 21 fom) aD integtal part of thEse fitwicial slat¢mellts. Page 9
The Stables Trnst Limited (Registration number: 591781) Balallce Sheet As at 30 September 2025 2025 2024 Nole Flxed fissets Tangible assets 318,916 319.638 Curremt assets Sto¢b3 Debtor5 Casb ai ballk ad ill hand 12 4,878 11,824 256,236 272,938 20.198 4.764 10.182 222.483 13 14 237.429 Creditors: Amounts fallAng due within one ytr Net turrent aMtt5 15 (15,295) 252,740 222.134 et A55ets 571.656 541,772 Furtds of the charity: Restricted incomt fuods ResIricd fimds 16 35.148 20.535 Unre31rided income funds Unrestricted Ojnds 536,508 521,237 Toial fund5 16 571.656 541,772 For the fiDaDcial yeai endTng 30 Septernber 2025 the rharity wd5 entiiled to exemption fTOrn audit under sectlOD 477 of the Companies Act 2006 relating to 5rnall Companies. Directors, tesponsibilities.. The mtrnbe have not required the cbarity to okAaill 8n 8jIt of its attouDts for the year ill qiiestion accordance with section 476; and Th¢ dittctors xknowled8e their r&%poosibiliti&s for complytng with the r¢quirem¢nts of th¢ Art with Tespect ts> a¢counting re¢ords and th¢ pr¢pararioD of accounts. These financial ststements have been prepa1 in #¢wrd with the special provisions latittg to companies subject to the sm411 companies regllne within Part 15 ot the CompaDies Act 20(M). The financial sthternents on pages 8 to 21 rre approved by the tswtees. and authorised for issue on signed QD their behalf by- ChaillnaJ] The notes on pages I I to 21 form an inttgtal partof these finan¢ial stslerneDts. Pa8e 10
The Stables Trnst Limited Notes to the Financial Statements for the Year Ended 30 Septernber 2025 I Cbarity status The charity is a Charity limited by guarantee and consequently does noi have share capilal. Each of the mernbe is liabl¢ tt> ¢oDtribute an amouni noi ¢x£¢"n8 £1 tOWdrd5 th¢ as5¢ts of the Charity in th¢ ¢v¢llt o( ILquidation. The address of its registered offjce is= Th¢ Stables Theatr¢ High Street Hastings East Sussex TN34 3EY 2 AeeountSng polltles Summary of 5ignificaDt a¢countiDg policies and key a¢¢ouDting estimat¢s The principal a¢ntIng lIci¢S applied in the preparntson of these fin8ll¢ial sratemenis are Set out below. These policies have been consistently applied 10 211 the years presented. unless otherwise 5t8ted. Statement of compllxllce The financial sthtements have begn Pfepared in accordance Accounring and Reporting by Charities.. Sraiemthjt of Reconllneuded Practice applicable to charities pr¢panng their aecounts in accordan¢¢ with th¢ Financial Reporting Standard applicable ill the UK and Republic of Jrelamd (FRS 102) (effective l Jalluary 2015) - (Charities SORP (FRS 102)), the Financial Rtportiog Staodard applicable in tbc UK aod Republic of trelaTKI (FRS 102) and th¢ Companies Act 2C(b6. Basis ofprep*r8tion The Stables Trust Limited mcets the defJnitlOD of a public benefit entity under FRS 102. Assets and liabilities are initially regniSed at historicat Cost or transaction value UTh1$ oiheThse stated in the relevant accounting policy note5. Golng Concern The trurtees consider tbai there are no rnatrrial uncertainties aboLLt the charity's ability to Continue as a going concern nor atty shgnificattl areas of uncertaitity that affect the carryittg value of asscts held by the charity. ExeJDption frotD preparing a cash flow st&twn¢at The charity opted to adop¢ Bulldin I published OL 2 February 2016 and hav¢ therefore not its¢luded a cash flow statement in th¢5¢ fwaneial Statements. IncDme And endowments All income is recognised once the ¢hariiy has enri(lemeni io ihe income, it is probable thar the inoome will be received and the amount of the income receivable can b¢ mwuted reliably. Page 11
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2025 Donations are recognised wheD the clwi.ty bas bEen no¢ified in writsDg of iM)th the amount and sett]emeni date. In the eveDt that a donation is subject ro condittolls that require a level of perfornuDce by the cbariry before the ¢h8rity is entitl¢d to th¢ funds. th¢ iD¢om¢ is d¢f¢Ned and not r¢co8tkised utttil eithcr thos¢ conditions ar¢ fully met. or the fulfilment of those conditions is wholly wiihin ihe control of rhe charily and it is probable that these condiiions will be fijlfilled in the reporting period. Gronts receivable Grants dre recognised whEll the ¢harhty bas an entitlement fo the fisllds and any ¢ondilioD5 Ihnkcd to the grants have been met. Wlbere perforniance wndiiions are allached to the grdni and are yet io be mei, the income is reco8ni5ed &$ a liability and included on the balance sheei &$ deferred income to be released. Inveslrfftenl income Inveslment income is recognised ott a receivables basis. Expenditure All expenditUT¢ is recognised once there is a legal or constructive obligation to that expthjditure, it is probable setil¢m¢nt is requir¢d aod the amowit can be measured r¢liably. All costs ar¢ allocated to th¢ applicable expenditur¢ headin8 that aggr¢gate similar ¢osts to that category. Wh¢re costs cannot b¢ dIrUY attribut¢d to particular headillgs tbey have b¢eu alloca*d on a basis coll51Stent with the use of resources, with central staff osts allocated on the basis of lime speni. and depreciation Charges allocated on the ponion of ihe assei's use. Other suppoit ¢osi$ are allocated b&sed on the spread of s&ff c05ts. Chdru4lJle activiti Charitable exndire compnses th¢)se costs iTKurred by the charity Tn the delivery of Tts aclivitle5 2nd services for its beneficiaries. It includes both costs thai can be allocated directly ro such activiiies and those cosis of an indirect nature necessary to 5UPPOrt them. Governance Costs These inelude the costs attributable to the chartty's ¢ompliance with ¢onsututioDal aDd statutory requirements. including audit, strategic managemeot and trustce5 meetings and rcimbws¢d expcDSeS. Taxatio The charity is considered pass the iests sei out LD Patagnph I Schedule 6 tsf the Finance Act 2010 and therefore it meets derltion of a eharirable ¢ornpany for trK corporation tax puxposes. AtcordiDgly, the Charity is p)ientially exempt from taxation in respect of income or capital gains re1ved withill Categories covered by Chapter 3 Part L l of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gairks Act 1992. (o the ¢xi¢Dr that sucb income or gains are applied excl81vely to charitAble purposes. Tangible fTx¢d assets Individual fixed assets costing £IOO.OLI or art iuitially recorded at cos¢ less auy subsequent accumulated depreciats.on and SubSeqt accumulated illjpairnJeDt losses. DepTecl¥Jtion amortlsatlo Depreciation is provided on tangible fLxed assets 50 as to wrilc off the cost or valuatiou, less any estimated residual value, ovcr their expected usefvl ¢conomic life as follows= Page 12
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2025 Asset class Freehold interest in laDd trtd buildings FixbJr¢s. fittings aDd equipment Depreciatioft method )Ind r#ie 2•/• straight line basis 4%- 25 /• on rbe reducing balance Stock Stock is valued at the lower of cost and e5timared selling price less costs to complete and sell. after due regard for obsole* and slow moving stocks. Cost is detemiined using the fitst-in. firS(u¢ (FIFO). Trade debtors Trade debtors are amounts due from cu5tomets for merdwodi5e sold or services perfonned ID tlbe ordinary course of busiuess. Tradc debtors are recogllised initially at tbe transactioD price. A provision for the impainnent of trdde debtors is established when thete is objeclive evidEnce that the charity V4LII not be.able to collect all amounts due according to the origiDal t¢rns of the re1¥able5. Cash and e•sh equlvalettts Cash and Cash equivalents ¢ompTise cath on Ihand and call dep)5its, and oth¢r short-t¢nn highly liquid investtn¢nts that are readily CODvertible to a known amount of cash and are subjwt an inSi]rIcant risk of hange in value. Trade credSlors Trade Creditors are obligations pay for good5 or services (hat have been aquired in Ihe ordinary Urse of business from supplier5. A¢counts payable are classified as curreni liabiliiies if the charity does not have an uncondi(ional right, at the ¢nd of the reporting Per1 to defer settlemeni of rhe ¢dItOr for ai least twelve months after the report¥ng date. If there 15 an unconditional ri8ht defer settlement for at leasi Iwelve months afl¢r Lhe reponing dat¢, Ihey are presenied as non4urreni liabilities. Trade creditors are recogDised iniiiaily at the transacts.on price. Fund structure Unrestricted incorne flu are general fvnd5 that are available for use at the ttwtees discretion in fiJrther#nce of the objectives of the ¢harity. Designated fuDds are unrestrictcd fithds sct aside for specific purposes at the discretion of the rrnstee Restricted income fund5 ar¢ thoK donated for us¢ ID a path"cular area or for spccific Pu05¢5. th¢ u5¢ of which is restricted to that area or PUTPOS4 Page 13
The Stables Trust Limited Notes to the Financi21 Statements for the Year Ended 30 September 2025 3 Iocome from don4tions l¢g¢i Unrestricted Total 2025 Total 21124 Designated Geerl Re5trieted Appeals 2nd donations Granis. including capital grnnls; GraT)1s from othcr charities Membership subscriptTons Sponsorsbip 4,550 1,760 6.310 16.733 17,081 17.081 16,260 1,200 16260 1,200 16,610 1,200 4,550 4 Income from ¢bri¢abl¢ acd¥itie8 UArestrietrd (und% DeJignat¢d General Total 2025 Tot*1 2024 Admission charge5 and progrdmmes Bar income An gallery income Th¢aiTe and eostyme hire Other income 3.941 123,853 48,232 2,536 245 8.134 127.794 48,232 2,536 245 8,134 126,983 45,741 3,516 195 2.836 3,941 183.( 186.941 179,271 5 Inv¢stn)eDt iD¢OllIt Unrestrlcted funds General Total 2025 Total 2024 Inlerest receivable and sitnilar income.. lnIesL receivable ort bank deposiL8 3.020 2.328 Page 14
The Stables Trnst Limited Notes to the Financial Statements for the Year Ended 30 September 2025 6 Expettditsre on eharAtsble actlviti Ure5trfttrd fufids l)esiEMted General Restrlfttd funds Tot*1 2025 2024 Note Operatiort of (htre and arts theatre Depreciatton, amortisalion and other similar cos Goveman¢e c05rs 6.747 177.043 1.3fKI 185.090 187.308 92 14.578 1,168 15.838 15.808 600 6.839 191,621 2.468 200,928 202,516 Vnrestri¢ted funds De$igDated Gellernl Restricted Total 2025 Total 2024 Produciiou5 Costs Bar purcbases Training Art gallery costs Estsblishment cosrs Repairs and m&nienance Office expenses Prinring posiage and SI70n¢ry Sundry and other cost5 Cleaning and refuse Marketing Bank charg¢s atKI credit card Charges D¢prcciation of tattgibl¢ fixed assers 59.976 27.756 720 3.322 24.919 13.571 10,710 1,922 .233 15.475 9.138 66.622 27.756 720 3,322 24.919 13,871 10.710 1,922 1,233 15.475 10.239 75.118 27,015 125 1.576 24.232 11,876 10,479 2.463 26 15.358 9.352 300 i.ioi 8.301 8.301 9.088 92 14,578 1.168 15.838 15.808 6.839 191.621 2.468 200.928 202.516 Page 15
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2025 7 Analysis of goverD#Dfe and 511PPOrt co$ts Governance costs Total 2025 Tot#1 2024 A¢¢ourt¢an¢y fees Other fees paid a¢¢ounthD (600) 8 Trusteo remuneratioTr xnd eipen5es During the year thc cb2rity made tht following trnnsactions with tr1¢¢$.. ¢11 SellmAD £108 {2024". £86) of expeJJs<8 were reimbursed to Neil Sellrn duting the.year. Hugo Trebels £576 (2024.. £1,228) of ¢xpeDS¢S were reimbursed th Hugo Trebels during the year. Chr•stine W*rriTrgton £629 (2024.. £5741 of expense5 We reimbursed Chrisiine Warrington during the year. Stuart Ballll¢ £12 (2024.. £Nill of expenses were reimburs to Sttkrt Baillie during ihe year. Colin Dormer £38 (2024.. £Nil) of expenses were reimbwsed to Colin Dormer durtng the Yr. No rrusiees. nor any persons connected with them. have received any remuner41ion fTom th¢ charity during ihe year. 9 Stxff ¢0sts The TAt does not ernploy people. There Were no employtts in this fi30claI pEriod. noi in 2024. 10 Taxation The charity is a r¢$1 dwity aDd is thereftsre exempt from CoryK)ration Tax. Pa8e 16
The St¥bles Trust Limited Notes to the Flnancial Statements for the Year Ended 30 September 2025 11 Tartgible red assets Lsnd And buildings Furnit¢ gnd equipment Total Cost Ai l Octob¢r 2024 Additions 346.202 278.047 624,249 15,116 At 30 Sept¢rnber 2025 346.202 293.163 639,365 Depretiti•n Ai l October 2024 Charg¢ for the year 136.276 5.149 168.335 10.689 304,611 15.838 At 30 September 2025 Net book value 141.425 179.024 320,449 At 30 Septrmber 2025 204,777 14,139 318.916 AI 30 Sept¢mber 2024 209,926 109,712 319,638 12 Stock 2025 2024 Stock5 4,878 4,764 13 Debiors 2025 2•24 Trade debtors Prepayments 238 11.586 10,182 11.824 10,182 14 Cash Dd eqwiv*leAts 2025 21124 Cash QD hand Cash at bank 980 25S.256 1.179 221,304 256.230 222,483 Pagc 17
The Stables Trust Limited Notes to the Financial St2tsments for the Year Ended 30 September 2025 15 Creditors: falling due within one y¢4r 2025 2024 Trade creditors A¢cnJals 1,690 18,S08 4.336 10.959 20.198 15,295 16 Funds BAlance at JO September 2025 . Balance #i i Ortober 1024 Rewure expended resourt Unrestrieted funds GenenTI G¢neral fund 519,589 205,240 (191.621) 533,208 Designotsd George Leach Memorial fijnd 2025 Scene & Heard Festival fid 2026 S¢ene & H¢ard Festival 1.648 (92) 1.556 6.441 2.050 (5.747) .000 694 1.050 1,648 8,491 6,839 3.300 Total urtrostricted fund5 521.237 213.731 (198.460 536,508 R¢strlcled fund5 Auditorium and Access Proje 20,269 266 (1,055) (113) (300) {1,0) 19.214 153 I,7() 2.190 Bar Furnitu fijnd S010 Theatre Conversion ftll Youth Board fiu 2026 S¢¢n¢ & Heard Festival fund 3.190 11,891 11.891 Total restricted fuDds 20,535 17.081 (2.468) 35.148 Tot*1 funds 541.772 230.812 {2.928) 571,656 Pa8e 18
The Stables Trust Limited Notes to the Financial Statements for the Year Ended 30 September 2025 BalnCe xt 30 September 2024 Inconrtg Tesourees Rt50urces txpended October 2023 Unrestritted f•nd$ Gemeral General nd 504.642 216.142 (201,195) 519,589 De&ignoréd George Leach Mcrnorial fuod Total unrestrieted funds 1,744 1,648 506.386 216,142 201.291 521.237 Rfstricted Auditorium and Access Project 21,368 392 {1.099) (126) 20,269 266 Bar Furnitrjre fimd TotAI r¢stri¢t¢d 21.760 ,225 20,535 Total funds 528.146 216.142 {202,516) 541,772 Page 19
The Stables Trust Limited 1¥4otes to the Financial Statements for the Year Ended 30 September 2025 The specific purposes for which the funds are to be applied are as follows.. Designated fijnds: Funeral donaiions in respect of ihe late George Lexh were received by the eharity and were designated by the tswtets for use in ryla¢ing the theatre hO$t tsbs (stsge Curtains). Depreciation on tbe assets financed ftD the fvNI are charged agaiD5t the filnd balance. The 2025 Scene & Heard Festiv21 fulld was to raise fimds for thai pioject. included donations from the Gloria Kitchener and SIla Lincoln chaTiry shop in Welling and ticket sales. The 2026 Scene & Heard Festival fund was to Taise fimds for that yoject. incluthd donaiions from the Gloria Kitch¢ner and Sylvia Lincoln cbariiy shop Welling. Restri¢ted funds: Th¢ Auditorium and Access Project fund was to raise funds for that project. These included a grant frorn ALts Council England and the Sear Sponsots Scheme. DepreciarioD on the assets rJna from the nd is charged aainSt th¢ fwld balance. The Bar Furniture fid consists of a grant from the Isobel B]a¢ktnan Foundation towar the cosi of new bar fUrnIre. Depreciation on ihe assets financed from the fund is charged aga1ft the fund balte. The srL10 Theatre Conversiort fi]nd con5iw of a from tl* Dunard Fund toward5 the ¢ost of ¢onv¢ning the Gwen Watford room into a snhall swdio theatre. The work is due to start in Januray 2026, it will bave dual use and will reKnain a5 an overlloiv area for the bar. The Youth Board fid ¢onsi5ts of a granr ftom The Cbalk Cliff for young people interested in variou5 aspects of theatre and live wforn)an¢e, funds for this projxt tnclude running various workshops. The 2026 Scene & HeArd Fe51ival fLWLd was to raise funds for thai projttt. Thcse included a 8rant frorn th¢ School of Perforning and Digital Arrs and the S Communily Fund. This is following from the successful 2025 Scene & Heard Fesrival. the theme for 2026 is.. Making L(Kai Stories: Coastal Towihs - HasiiDgs, which will Comprise of various workshops, perfornwices and various other compoDeJiLS. Page 20
The Stables Trust Limited Notes to the Flnantlal Slatements for the Year Ended 30 September 2025 Analysis of D¢¢ assets between funds Tot1 funds •t 30 Seplember 2025 Unrestricted f¥nds General Dtsighated Restricted futhd$ Tangible fixed assets CurreDt assets Current liabiknties 297.993 255.413 (20,198 .556 1.744 19.367 15.781 318.916 272.938 20,198 Totsl nei assets 533,208 3,31K) 35,148 571,656 Ttttxl funds #i 30 Stpternber 2024 UDrestricted funds GeTherl Designated Restrtcted funds Tanglble fixed assets ce0t &5sets cellt liabiliti¢5 297,455 237,429 15,295 1.648 20,535 319,638 237,429 15.295 Total net assets 519.589 1.648 20.535 541,772 Pa8e 21