Charlty registration number 223923 IEngland and Walesl
Company reglstration number 00463046
HIGHBURY THEATRE CENTRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

HIGHBURY THEATRE CENTRE LIMITED
LEGAL AND ADMINISTRATIVE INFORMATION
Trusteès
Mr S Bowyer
MsMILane
Ms C Lea-Redmond
MrA C Noakes
Mr M C Walker
Mr K RAgnew
Mr R J Irons
Ms A J Cahill
fjrPJOwen
Ms S F Haynes
Mr R Phillips
Ms E Parry
Ms G Evans
(Appointed 15 April 20241
(Appoinlgd 15 April 20241
(Appointed 27 March 2024}
Senior managem9nt
Mr S Bower
Ms A J Cahill
MrPJOwen
Chair
Vice chair
Secretary & Finance Director
Charlty number (England and Wales)
223923
Company number
00463046
Reglstered office
Sheffield Road
Sutton Coldfield
West Midlands
England
B73 5HD
Auditor
Haslehursls Limited
88 Hill Village Road
Sutton Coldfield
Wesl Midlands
England
B75 58E

HIGHBURY THEATRE CENTRE LIMITED
CONTENTS
Page
Trustee, report
Irnde￿nde￿t audilo¥'s report
Statement of financial activities
Slalemenl of financial position
Notes to the financial statements
10-18

HIGHBURY THEATRE CENTRE LIMITED
TRUSTEE, REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 JULY 2024
The trustees present their annual report and financi81 statements for the year ended 31 July 2024
The financial slalements have been prepared in accordance with the accounting policies set out in note 1 to the
financial slalemenls and comply with the Charity's governing document, the Companies Act 2006 and "Accounting
and Reporting by Charities.. Statement ol Recommended Practice applicable lo charities preparing their accounts in
accordance with the Financial Reporting Standard applicable In the UK and Republic ol Ireland IFRS
1021 leffeclive 1 January 20191.
Oblèctives and actlvltles
The company is limited by guarantee and is registered as a charity IRegislered No 2239231.
Our aim is to raise, develop and re-define the standards of community theatre.
Public beiiefil
The IrLJslees have psid due regard to guidance issued by the Charity Commission in deciding what activities the
charity should undertak&
The Highbury Theatre Centre Limited was established lor the public benefit lo promote. maintain. improve and
advance education through the performance and pra¢lising arts. Including drama, mime. dance, film. mus5c and
visual arts.
Achlevements and performance
Sigi?ificai?l acfivities ai?d achi&vemenls againsl objeclives
The theatre tries to include a Creative and challenging programme ol stage performances which may or may not be
seen al other Ihealres nationally bul are of an interest lo our patrons.
The theatre also hires out their facilities to other Ihealres to stage their productions and also allows local artist lo
display their works lo our patrons
Productions during the year..
Relatively Speaking
Taking Sides
The Farndale Avenue Housing Eslale Townswomen's
Guild Dramatic Society Christmas Carol
Abigail's Party
Blue Remembered Hills
A Bunch ol Amateurs
How lo Dale a Feminist Isludiol
London Suite
45%
22%
560
740
390
Flnancial revlew
A summary ol the Charity's fInan￿S is sel out in the allached financial slalemenls for the year ended 31 July 2024.
Income from charitable activities amounted 10 £77,330 12023 - £81,892). Costs of theatre activities amounted lo
£110.74512023 £106,851)
Inveslmenl properties generated rental income of £35,91012023 £29.6551 lor the year.
The nel deficit in funds of £7,67212023 - £110,642 surplus) has been deducted from reserves.
Accumulaled unreslricled funds carried forward al 31 July 2024 were £1,832,41212023 - £1,840.0841.
Accumul8led reslricled funds Carried lO￿ard al 31 July 2024 were £62.27612023- £62.2761.

HIGHBURY THEATRE CENTRE LIMITED
TRUSTEE, REPORT {INCLUDING DIRECTORS. REPORT) {CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
ReseNes poI￿Y
It Is the policy of the charity that unreslricled ftjnds which have not been designated for a specific use should be
maintained al a level equivalent lo between three and six mgnth's expenditure. The trustees eonsiLler that reserves
at this level will ensure that. in the event of a significant drop in funding, they will be able to continue the charity's
currenl activities while consideration is given to ways in which additional funds may be raised. This level of reserves
has been maintained throughout the year.
Plan$ for future pgrlods
The charity has a full prtsgramme of performances planned lor the forthcoming year. 11 will continue lo bo actively
involved in the local community and encourage participation throughout.
Structure, governanc8 and managemgnt
The organisalion is a charitable company limited by guarantee, incorporated 3 January 1949 as amendèd by special
resolutions dated 20 FebTuary 1990. The company was established under a Memorandum and Articles of
Association, which imposes reslri¢lions on the scope of th8 Charity's operations. The activities of the Charity are
limited lo those related lo the regeneration ol ils area ol benefit and the promotion of the ben?fil of the inhabilanls ol
ils area of benefit. The Memorandum of Association provides that the Charity has Ihg ppwer lo invest money not
immediately required for the Charity's obieels in such investments, securities or property as may be thought lil by
the company. The company is governed under 115 Articles ol Association. In the event of the company being wound
up. members are required lo contribute an amount not exceeding £1.0D.
The Iruslees, who are also the directors for the purpose of cornpany law, and who served during the year and up lo
the dale of signature of the financial statements were..
Mr S Bowyer
M5MILane
Ms C Lea-RedmDnd
MrA C Noakes
Mr M C Walker
Mr K RAgnew
Mr R J Irons
MSAJ Cahill
MrPJOwen
Ms S F Haynes
Mr R Phillips
Ms E Parry
Ms G Evans
{Appoinled 15 April 20241
{Appoinled 15 April 20241
{Appoinled 27 March 2024>
Recruilmenl and &ppoinlment of Irus(ogs
We have people who are player members of the Highbury Theatre. Those who are involved with the rL*nning of Ihg
Theatre over al least 3 years, not necessarily as actors, are invited lo become members of the CoMp￿Y Highbury
Theatre Centre Limi(ed. As the company is limited by guarantee, these members agree lo pay £1 in the event of
nLYing up of the company. These members are those who attend the AGM and can vole lo approve the accounls
and lo elect the directors lo the Board. The Directors gf the company, Highbury Theatre Centre Limited, are also
Trustees of the charity.
None of the Iruslees has any beneficial interest in the tompany. All ol the Iruslees are members of the company and
guarantee lo contribute £1 In the event of 8 winding up.

HIGHBURY THEATRE CENTRE LIMITED
TRUSTEE, REPORT (INCLUDING DIRECTORS, REPORT) ICONTINUED)
FOR THE YEAR ENDED 31 JULY2024
The company's current policy ¢onceming the payment of trade creditors is lo follow the CBI'S Prompt Payers Code
{¢opies are available from the CBI, Centre Point, 103 New Oxford Street. London WC1A 1 DUI.
The company's current policy conceming the payment of trade creditDr$ is to..
• sellle the terms ol payment with suppliers when agreeing the terms of each transaelion.,
ensure that suppliers are made aware ol the temis of payment by inclusion of the relevant terms in conlracls.,
and
pay in accordance with the company's conlraclual and other legal obligations.
Owanisalional slruclure
The Charity has".
Audience members
As the theatre is 8 'Club' under the Licen¢ing Act, people attending lo watch a perfc*rmance
have lo be al least an Audience Member. They are able lo usè the facilities at the Ihealre.
Player Members - We ask that Ih05e people who want to perform in our plays that they are Player Members. We
also ask that people who help in thè running of the theatre are also Player Membèrs.
The Charity has a Board of Directors who are the Trustees. The Board confirms the work dor￿ in the theat￿. There
are various committees that decides what plays we will perform, what work needs to be done lo improve the Ihealre,
and a player's management lo run the acting siole.
Statemènt of trustee. responslbllltles
The trustees, who are also the directors ol Highbury Theatre Centre Limited for the purpose of cornpany law, are
responsibl8 for preparing the Trustee, Report and the linancial 51alemen15 in acwrdance with applicable law and
Lsniled Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Pra¢licel
Company law requires the trustees lo prepare financial statements lor e8ch financial year which givè a true and fair
view of the stale of affairs of the charity and of the incomirsg resources and application of resour￿5, including the
income and expenditure. of the eharilable company lor that y$ar.
In prepsring these financial sla18ments, the trustees are required lo..
select suitable accounting policies and then apply them consislenlly,.
observe the method5 and principles in the Charities SORP.,
make judgements and eslimales that are reasonable and prudent",
slate whether applicable UK Accounting Slanclards have beèn followed, subject lo any material departures
disclosed and explained in the financial slalemenls., and
Prepare the financial statements on the going concern basis unless il is inappfopfiale lo presume that the charity
will continue in operation.
The trustees are responsible for keeping adequate accounting records that diselose with reasonable accuracy at
any lime the financial position of the charity and enable them lo ensure that the financial slalemenls comply with the
Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking
reasonable steps for the prevention and detection of fraud and other irregularities.
Auditor
In accordance with the company's articles, a resolution proposing that Haslehursls Limited be reappointed as
auditor of the company wll be pul al a General Meeting.

HIGHBURY THEATRE CENTRE LIMITED
TRUSTEE, REPORT (INCLUDING DIRECTORS, REPORT) (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
The Iruslee, reF)Qrt was approved by the Board of Trustees.
MrPJOwen
Trustee
14 April 2025

HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF HIGH8URY THEATRE CENTRE LIMITED
Oplnlon
We have audited the financial slalemenls ol Highbury Theatre Centre Limited (the 'charity'l IDr the year ended 31
July 2024 which Comprise the statement of financial activities, the slalemenl of fi'nancial position and notes to the
financial slalement5, including significant accounting pglicies Thè financial reporting framework that has been
applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial
Reporting Standard 1 C12 The Financial Reporting Sland&rd &pplic8ble in th8 UK and Republic of Irgland (United
Kingdom GenerallyAccèpled Accounting Praclicel.
In our opinion, the financial slalemenls..
give a true and fair view of the slate of the charitable company's affairs as al 31 July 2024 and of ils incoming
resources and application of resources, for the year then ended..
have been property prepared in accordance with United Kingdom Generally Accepted A￿oUntIng practi￿.,
and
have been prepared in accordance wlh the Tequiremenls of the CompaniesAcl 2006.
Basis for oplnlon
We conducted our audit in accordan￿ with Inlemalional Standards on Auditing IUKI IISAS IUKII and applicable
law. Our responsibilities under those standards are further described in the Audilorfs respo17sibilili&s lor th8 audit ol
Èhg finai?cial slat8menls section of our report. We are independent ol the charity in accordance with the ethical
requirements that are relevant lo our audit of the financial slalemenls in the UK, including the FRC'S Ethical
Standard, and we have fulfilled our other elhical responsibilities in aecordants with these requirem&nls. We believe
that the audit evidence we have obtained is sufficient and appropriate lo provide a basis for our opinion.
Concluslons relatlng to going concern
In auditing the 1snan¢ial slalemenls. we have concluded that the trustee, use of the going concern basis of
accounting in the preparation of the financial slalemenl$ is appropriate.
Based on Ihe work we have performed, we have not identified any material uncertainties relating to evgnls or
conditions that, individually or ¢olleclively, may cast significant doubl on the charity's ability lo continue as a going
COn￿rn for a period of al least twelve months from when the linancial stalemenls are aulhori5ed for issue.
Our responsibilities and the respon5ibililies of the Iru5tees with respect to goin9 COn￿M are described in the
relevant sections of this report.
Other Informatlon
The other information Comprises the information included in the annual report other than the finarcial slalemenls
anrj our auditorfs report thereon. The trustees are responsible for the other informaliDn ¢ontsined within the annual
report. Our opinion on tho financial statements does not cover the other information and we dD not express any form
of assurance conclusion Ihereon. Our responsibility is lo read the other information and, in doing so, consider
whether the other infomalion is maleiially inconsislenl with the financial slalemenls or our knowledge obtained in
the course of the audit, or olhorwse appears lo be materially misslaled. 11 we identify such material inconsistencies
or apparent material misslalemenls, we are required lo determine whether this gives rise lo a malerkil misstatement
In the financial statements themselves. If, based on the work we have performed, we conclude that Ihere is
material misstslemenl of this other information, we are required lo report that fact.
We have nothing lo report in this regard.
Matters on whlch we are requirgd to report by exceptlon
We have nothing to report in respect of the following matters in relation to which the Charities (Accounts and
Reports) Regulations 2008 requires us lo report to you if, in our opinion..
the information given in the financial statements is inconsislenl in any material respect with the Iruslee, report".
or
sufficient accounting records have not been kept," or
the financial slalemenls are not in agreement with the accounting records.. or
we have not rèceived all the informalioft and explanations we require for vur audit.

HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Responslbllilles of trustees
As explained more fully in the slalement of Ifuslee, responsibilities. Ihe trustees, who are also the directors of the
tharily for the purpose ol company law, are responsible for the preparation of the financial slalemenls and for being
satisfied that they give a true and fair view, and for such internal control as the Iruslees delermino is necessary to
enable the preparation of financial ststemenls that are free from material misstalemenl. whether due lo fraud or
error. In preparing the financial slalemenls, the Irusl&es are iesponsible for assessing the charity's ability to
continue as a goif)g concern, disclosing, as applicable, matters relaled lo going concem and using the going
eoncern basis of accounting unless the Iruslees eithèr intend lo liquidate the charitable company or lo cease
operations, or have no realistic allernalive bul lo do so.
Auditor's responsibllltles for the audlt of the flnanclal statements
We have been appointed as auditor under s&clion 144 01 the Charities Act 2011 and report in accordance with the
Act and relevant regulations made or having effect thereunder.
Our objectives are lo obtain reasonable 8ssurance about whether the financial slalemenls as 8 whole are free from
material misslalemenl. whether due lo fraud or errof, and lo issue an auditor's report that includes our opinion.
Reasonable assurance is a high levèl of assurance bul is not a guarantee that an audit conducted in accordance
with ISAS IUKI will always delecl a material misslalemenl when il exists. Misslalemènls can arise from fraud or
error ond are considered matèrial if, Individually or In the aggregate, they could reasonably be expected to influence
the economic decisions of user5 taken on the basis of these financial slalements.
The extent lo which our procedures are capable of detecting irregularities, induding fraud. is detailed below.
We obtained an understanding of the company's legal and regulatory framework and the industry in thich it
operates. We considered Ihe risk of acts by the company that might have contravened applicable laws and
regulations, including fraud. Our audit procedures wtsre designed lo respond to the risk, recognising that the risk of
not delecling a material misslalemenl due lo fraud is higher than the risk of not delecling one [esL￿tIng frotn error,
as fraud may involve deliberate eoncealmenl by way ol forgery. inlenlional fepresentations or through collusion.
We focussed on laws and regulations which Could give nse lo a material misstslemenl in the fi'nanaal slalemgnls,
including, bul not limilgd lo the Companies Act 2006 and UK lax legislation. Our tests included agreeing the
financial slalemenl disclosur&s lo underlying supporting documenlalion. enquiries with rnan8gemenl and third party
company representatives. There are inh8renl limitations in the audit procedures described above and, the further
removed non-complian￿ with laws and regulations 15 from the events and transactions reflected in the financial
slalemenls, the less likely we would become aware of it. We did not identify any key audit mallers relating lo
irregulari11&5, including fraucj. As in all our audits. we 31so addressed the risk of management override of internal
controls, including lesling journals and evaluating whether there was evidence of bias by the directors that
represented a risk of material misslalemenl due lo fraud.
A further description of our responsibilities is available on the Financial Reporting Council's website at.. hllps.'Il
wwM.frc.org.uklaudilorsresponsibililies. This description forms part of our auditor's report.
Usè ofour report
This report is made solely lo the ¢harily's trustees, as 8 body, in accordan￿ with Part 4 01 the Charilies (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might slate lo th& charity's IrLtslees
those matters we are required lo slate to Ih6m in an auditor's report and for no other purpose. To the fLtllest exlenl
permllled by law, we do not accept or assume responsibility lo anyone other than the charity and the charity's
trustees as a body. for our audit work. for this report, or lor the opinions we have fomied.

HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT ICONTINUED)
TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Stuart Penfold {Sonlor Statutory Auditor)
For and on behalf of Haslehursls Limited, Stalijlory Auditor
Chartered Accounlanls
88 Hill Village Road
Sutton Coldfield
Wesl Midlands
875 5BE
England
14 April 2f125

HIGHBURY THEATRE CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY2024
Unrestrlcted Restricted
funds
funds
2024
2024
Total Unrestrlcted Restricted
funds
funds
2023
2023
Total
2024
2023
Notes
Income from..
Donations and legacies
Charitable activities
Investments
3,124
77,330
36,992
3,124
77.330
36,992
53,615
81,892
30,070
62,276
115,891
81,892
30,rJ70
Total income
117,446
117,446
165,577
62,276
227,853
Expenditure on:
Charitable activities
125.118
125,118
117,211
117,211
Total expenditure
125,118
125,118
117,211
117,211
Net incomellexpendlturèl and
movement Sn funds
17.6721
17,6721
48,366
62,276
110.642
Reconclllation of funds:
Fund balances al 1 August
2023
1,840.084
82,276 1,902.360
1.791.718
1.791,718
Fund balances at 31 July
2024
1,832,412
62,276 1,894.688
1.840,084
62,276 1,902,380
The statement of financial activities includgs all gains and10sses recognised in the year. All i￿ome and expenditure
derive from continuing activities.

HIGHBURY THEATRE CENTRE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024
2024
2023
Notes
Flxed assets
Tangible assets
Investment property
11
12
789,079
800,000
808.884
800,000
1,589,079
1,608,684
Current assets
Stocks
DeblDf5
Cash at bank and in hand
13
14
1,349
2,233
314,867
1,017
17,980
297,693
318,449
316,670
Creditots.. amounts falling due within
onè yèar
15
112,8401
{22,9941
Net current asset$
305,609
293,676
Total ass8ts 19$$ curront Ilabllltles
1.894,688
1,902,360
The funds of the char5ty
Restricted income funds
Unrestricted funds
16
17
62,276
1,832,412
62.276
1,840.084
1.894,688
1,902,360
The company is entitled lo the exemption from the audit fequiremenl contsinèd in seetion 477 of the Companies Act
2006, for the year ended 31 July 2024.
The directors acknowledge their responsibilities lor complying with the requirements of the Companies Act 2006
with respect lo accounting records and the preparation of financial slalemenls.
The members have not required the company ID obtain an audit of ils financial slalements under the requirements
of the Companies Act 2006, for the year in question in aceordanee with section 478.
These financial slalements have been prepared in accordanee with the provisions applicable to companies subject
lo the small companies regime.
The financial statements were approved by the trustees on 14 April 2025
Mr S Bowyer
Trustee
Trustpe
Company registration nLtmber 00463046 (England and Wales)

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024
Accounting pollcles
Charity information
Highbury Theatre Cenlrè Limited is a private Company limited by guarantee incorporated in England and
Wales. The registered office is Shèffield Road. Sullon Coldfield, West Midlands, B73 5HD, England.
1.1 Accounting ¢onvelltion
The financial slalemèn15 have been prepared in accordance with the charity's governing document, the
Companies Act 2L)06. FRS 102 "The Financial Reporting Standard applicable in the UK and Republic ol
Ireland" and the Charities SORP "Accounting and Reporting by Charities.. Statement of Recommended
Practice applicable lo charities preparing their accounts in accordan￿ with the Financial Reporting Standard
applicable in the UK and Republic ol Ireland IFRS 102)" The charity is a Public Benefit Enlily as defined by
FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a slal8nenl ol
cash flows.
The financial statements are prepared in sterling, which is the lunclion31 currency of the charity. Monetary
amounts in these fi'nancial slalemenls are rounded lo the nearest £.
The financial slalemenls have b@8n prepared under the historical cost convention, modified lo include the
revaluation of freehold properti$s and lo include investment properties and certain financial instruments al fair
value. The princip81 aecounling policies adopted arg sel out below.
1.2 Golng concern
Al the lime of approving the financial slalgmenls, the Iruslees have a reasonable expectation that the charity
has adequate reSoUr￿S to continue in operational existence for th? foreseeabl8 fuluro. Thus th? tr￿￿teeS
onlinue lo adopt the going ctsncem basis of accounting in preparing the financial slalements.
1.3 Charitable funds
The unreslricled funds of a charity compromiso of the unexpended balances of donations and grants which
are not subject lo specific conditions by donors and grantors as lo how they may be used. These include
designated funds which have been set aside out of unreslricled funds by the Iruslees for specific purposes.
The restricted funds of a charity compromise of the balances of donations and granlg which are subject lo
specific conditions by donors and grantors as to how they may be used.
1.4 Income
Income is recogni5ed when the charity is18gally enlilled lo il after any performan￿ conditions have been mel,
the amounts Can be measured reliably, and it Is probable that income will be received.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified
of the donation, unless performance coftdilions require deferral of the amount. Income tax recovèrable in
relation to donalions received under Gift Aid or deeds of covenant is recognised al the lirne of the donation.
Legacies are recognised on receipt or otherwise if the charity has been notified of an impending distribution.
the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a
conlingenl asset.
10-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Accounting pollcles
Icontlnued)
1.5 Expendlture
Expenditure is recognised once there is a legal or conslnjclive obligation lo transfer economic benefit lo a
third party, il is probable that a transfer ol economitt benefits will be r8quired in setllemenl, and the amtsunt of
the obligaliDn can be measured reliably.
Expenditure is classlfied by aclivily. The costs of each activity are made up of the lolal of dir￿1 costs and
shared costs, including support costs involved in undertaking each aclivily. Direct costs atlribulable lo a single
activity are allocated directly lo that activity. Shared costs which contribute lo more than one activity and
support costs which are not atlribulable lo a single activity are apportioned between those activities on a basis
consislenl with the use ol resour￿$ Central staff costs are allocatèd on the basis of lime spent. and
depreciatron ¢harges ale allocated on the portion of the asset's use.
1.6 Tangible flxed assets
Tangible fixed assets are initially measured at cost and subsequently measured al cost or valuation, nel ol
depreeialion and any Impairment losses.
Depreciation is recognisèd so as to write off the cost or valuation of assets less their residual valuos over their
useful lives on the following bases..
Freehold land and buildings
Plant and equipment
2% straight line on cost
10¥0 reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between tt)e sale proceeds
and the carrying value of the assel. and is recognised in the slalemenl of financial aclivilies.
1.7 Investment property
Investment property, which is property held to eam rentals andlor for capital appreciation, is Initially
recognised al Cost, which includes the purchase cost and any directly allribulable expenditure. Subsequently
il is measured al fair value al the reporting end date. The surplus or deficit on revaluation is recognised in
profil or loss.
1.8 Impainnent of flxed as$ets
Al each reporting encl dale, the charity reviews the carrying amounts of ils tangible 2ssets lo delemiine
whether there is any indication that those assets have suffered an impaimienl loss. If any such indication
exists, the recoverable amount of the asset is eslimaled in grder lo determine the exlenl of the impairmènt
loss lif any).
1.9 Stocks
Stocks are slated al the lower of cost and eslimaled selling price Eess costs to complete and sell.
1.10 Cash and cash equivalents
Cash and cash equivalents incluLle cash in hand, deposits held al call with banks, other short-lerm liquid
investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2024
Ac¢ounting pollcles
{Continugdl
1.11 Financlal Instruments
The charity has elected to apply the provisions of Section 11 'Basic Financi?1 Instruments, and Section 12
'Olher Financial Instruments Issues. of FRS 102 to all of ils financial inslrumonls.
Financial instruments are recognised in the charity's balance sheet when the charity bectrmès paty to the
conlraclual provisions of the instrument.
Financi81 assets and liabilities are offset, with the nel amounts presented in the financial stslemenls, whèn
there is a legally enfor￿able right lo sèt off the recognised amounts and there is an intention lo sellle on a nel
basis or lo realise the asset and settle the liability simultaneously.
Basic financlal assets
Basic financial assets, which include debtors and cash and bank balances. ale initially measured at
transaction price including transaction costs and are subsequently carried al amortised cost using the effective
interest method unless the arrangement conslilules a financing transaction, where the transaction is
measured al the present value of the fulure receipts discounted at a market rale of interest. Financial assets
classified as reeèivable within one year are not amortised.
Basi¢ financial Ilabilitles
Basic financial liabilities, including credilors and bank loans are initially recognised al transaction price unless
the arrangement conslillttes a finanung transaction, where the debt instrument is measured al the present
value of the future payments discounted al 8 market rale of irsleresl. Financial liabilities cl8ssffied as payable
within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rale method.
Trade creditors are obligations lo pay for goods or service8 that have been acquired in the ordinary course of
operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one
year or less. If not, they are presented as non-currenl liabilities. Trade ciedilors are recognised initially al
Iransacknon price and subsequentty measured al amortised cost using the effective interest method.
De￿ogniTtI0n of financlal liabilities
Financial liabilib'es are dèrecognised when the charity's contractual obligations expire or are discharged or
cancelled.
1.12 Short term debtors and creditors
Short term debtors are measured al transaction price, less any impairment. Loan's receivable is measured
initially al fair value. nel of transaction costs. and ar& measured subsequently al amortised cost Ltsing the
effective interest method, less any impairment.
Short term creditors are measured al the transaelion pri￿. Other financial liabiliknes, including bank loans, are
measured initially al fair value, net of transaction costs, and are measured subsequently al amortised cost
using the effective inler&sl method.
12

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Critical accounting estlmates and ludgements
In the application of the charity's accounting policies. the Iruslees are required lo 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 factor5 that
are considered to be relevant. Actual results may differ from these estimates.
The estsmales and underfying 8ssumplions are reviewed on an ongoing basis. Revisions lo accounting
eslimales are recognised in the period in which the estimate is revised where the revision affects only that
period, Cir in the period of the revision and future periods where the revision affects both current and future
periods.
Key sources of gstlmation uncertalnty
Depreclatlon and resldual values
The Trustees have revièwed the asset lives and associaleLI residual values of all fixed asset calculations and
have Concluded that asset lives anrs residual values are appropriate.
Income from donatlons and legacles
Unrgstrlcted Restricted
funds
fun(Js
2024
2024
Total Unrestrlcted Restricted
funds
funds
2023
2023
Total
2024
2023
Donations and gifts
Legacies
Grants
Other
894
894
413
53,202
413
53,202
2.230
2.230
62,276
62,276
3.124
3,124
53.615
62,276
115.891
Income frorn ¢har5table activities
Unrestricted
funds
2024
Unrestrict8d
funds
2023
Theatre Income
Theatre activities income
77,330
81.892
13-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Income from Investment5
Unreytricted Unre5trictgd
funds
funds
2024
2023
Rental income
Interest receivable
35.910
1,082
29,655
415
36.992
30,Q70
Expendlture on charitable actlvitles
Theatra
Expenses
2024
Theatre
Exp&nses
2023
Direct costs
Depreciation and inlpairmenl
Bar and Catering costs
Dgvelopmenl costs
Players- Tolal costs
Theatre- Total costs
Film club c051s
19,605
9,606
5,656
16,890
57,918
1,070
20,701
9,030
15,799
14,185
46,206
930
110,745
106,851
Share of support and gov&rnance costs {see not9 71
Governanc
14,373
10,360
125,118
117,211
Analysls by fund
Unreslricled funds
125,118
117.211
Support costs allocated to a¢tivltles
2024
2023
Govemance costs
14,373
10.360
Analysed between:
Theatre Expenses
14,373
10,360
14-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
Support costs allocated to aetivilies
Icontlnuedl
2024
2023
Govgrnance costs compr5so'.
Audrt fees
Legal and professional
Bookkeeping
7,877
4,886
1,610
4,040
3,652
2,668
14.373
10,380
Net movem&nt In funds
2024
2023
The net movement in funds is slated after chargingl{creditingi'.
Fees payable for the audit of the charity's fingncial slalemenls
Depreciation of owned tangible fixed assèts
7,877
19,605
4,040
20,701
Tru$tg9s
None of the Iruslees lor any persons connected with them) received any remuneration or benefits from the
charity during the year.
10 Taxatlon
The charity is exempl from laxalion on ils activities because all ils income is applied for charitable purposes.
11 Tangible flxed asset$
Freehold tand
and buildlngs
Plant and
equlpm?nt
Total
Cost or valuatlon
Al 1 August 2023
807,230
138,971
946,201
Al 31 July 2024
807.230
138,971
946,201
Depreclatlon and IrnpaSrment
Al 1 August 2023
Depreciation charged in the year
97.159
9,744
40,358
9,861
137,517
19.605
Al 31 July 2024
106,903
50,219
157,122
Carrying amount
Al 31 July 2024
700,327
88,752
789,079
Al 31 July 2023
710,071
98,613
808,684
15-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 JULY2024
11 Tangible flxed asyets
Icontlnuedl
Land and buildings with a carrying amount of £700,327 were revalued al 5 July 2013 by Browne Chartered
Surveyors, independent valuers not connected with the charity on the basis of market value. The valuation
conforms lo International Valuation Standards and wa5 based on recent market transactions on arm's ￿ngth
terms for similar properties.
Al 31 July 2024, had the revaluerl assets been carried al historic cost less accumulated depreciation and
accumulated impairment losses, their carrying amounl would have been approximately £986,127 12023
£991,474)
The freehold properties were devalued by £242,646 Icost £291,897 less accumulated depreciation £49,271)
which was recognised immediately to the unrestricted reseryes, and therefore there are no revalu8tion
reserves.
Included in freehold land and buildings is lanc* valueLI al £320,000 which is not depreciated
12 Investmont property
2024
Falr value
Al 1 August 2023 and 31 July 2024
800.000
lllveslment property comprises of a historic cost value of £565,000. The fair value of the investment property
has been arrived al on the basis of a valuation carried out at 14 December 2020 by Green & Co Limited,
Chartered Surveyors, who are not connected with the charity. The valuation was made on an open market
value basis by reference lo markèt evidence of transaction prices for similar properties.
13 Stocks
2024
2023
Consumable stocks
1,349
1,017
14 Debtors
2024
2023
Amounts falllng duo wlthln one year:
Trade debtors
Other debtors
Prepayments and accrued income
517
4,298
13,145
2,233
2.233
17,960
16-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y 2024
1 S Credltors-. amounts falllng due wlthin one year
2024
2023
Other laxalion and social security
Trade creditors
Accruals and deferred income
812
2,842
9,186
15,893
7.101
12,840
22,994
16 Rgstrlctfrd funds
The reslricled funds of the charity Comprise the unexpended balances of donations and grants hèld on trust
subject to specific conditions by donors as lo how they may be used.
At 1 August
2023
Incomlng
resources
At31 July
2024
62,276
62,276
Prgvlous year:
At 1 August
2022
Incomlng
resources
At 31 July
2023
62,276
62,276
17 Unrestricted funds
The unrestricted funds of the charity comprise the vnexpended balances of donations and grants which afe
not subject lo specifsc condrtions by donors and grantors as lo how they may be used. These include
designated funds which have been sel aside out of unrestricted funds by the trustees for specific purposes.
At l August
2023
Incoming Rèsoureès
resources
expended
At 31 Juty
2024
General funds
1,840.084
117,446
1125,118)
1,832,412
Previous year:
At 1 August
2022
Incomlng Resources
resources
expended
At 31 July
2023
General funds
1,791.718
t65.577
1117,2111
1,84D,084
17-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2024
18 Analysls of n&t assèts betwe•n funds
Unrestricted
funds
2024
Restricted
funds
2024
Total
2024
Al 31 July 2024..
Tangible assets
Investment properties
Current asselsllliabilities)
789,079
800,000
243,333
789,079
800,000
305,609
62,276
1,832,412
62,276
1.894,686
Unrestricted
funds
2023
Restrlcted
funds
2023
Total
2023
At 31 July 2023:
Tangible assets
Investment properties
Current asselsllliabililies}
808,684
800,000
231,400
808,684
800,000
293,676
62,276
1,840,084
62,276
1,902,360
19 Relatsd party transactlons
There were no disclosable related paty transactions during the year12023- none).
18