Company regl$trdtion numbèr 00463D46 (England and Wales)
Charlty registratlon number 223923 (England and Wolesl
HIGHBURY THEATRE CENTRE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2025

HIGHBURY THEATRE CENTRE LIMITED
LEGALAND ADMINISTRATIVE INFORMATION
Trustees
Mr S Bowyer
M5MILane
Ms C Lea-Redmond
Mr A C No8kes
Mr M C WalkÈt
Mr K RAgnew
Mr R J Irons
Ms A J Cahill
MrPJOwÈn
Ms S F Haynes
Mr R Phillips
MS E Parry
Ms G Ewans
Senior m•nagemont
T S Bowyer
Ms AJ Cahill
Mr P J c￿len
Chair
Vice chair
Secretary & Finance Direclor
Country of incorporation
United Kingdom
(England and Wales)
Charity reglstr#tson
England and Wales
223923
RegistÈ*d offKe
Sheffield Road
Sutton Coldffiekl
West Midlands
England
873 5HD
Audltor
Haslehursls Limited
88 Hill Village Road
Sutton Coldfiekl
West Midlands
Er¥Jland
B75 5BE

HIGHBURY THEATRE CENTRE LIMITED
CONTENTS
Page
Tm8tee' report
Slatement of trustee, le8￿Ms1b1litIeS
I1￿ependent auditD¢s report
Statement ol financial aelThiitiès
Statemènt of financial positi'on
Notes to the financial ststemenls
10-18

HIGHBURY THEATRE CENTRE LIMITED
TRUSTEE. REPORT (INCLUDING DIRECTORS. REPORT)
FOR THE YEAR ENDED 31 JULY2025
The trustees present their annual report and financial statements for thè year ended 31 JUFY 2025.
The finanaal slalements have been prepared in accordano with the accounting policies set out in note 1 to the
financial statements and comply with the charity's governing document, the Companies Act 2006 and Accounting
and Reporting by Ch8rilies.' Statement of Recommended Practice applicable lo charities preparing their accounts in
accordants wilh the Financial Rèporting Standard applicable in the UK and Republic of Ireland {FRS
1021" (effective 1 January 20191.
Oblgctives and activltles
Ihe company is limited by guarantee and is registered as a charity (Registered No 2239231.
Our aim is to raise, dèveFop and re-define the standards of CL)rllmunity theatre.
Public benerrf
The trustees have paid due regard to guidance issued by the Charity Commisslon In deciding what activslies the
charity should undertake.
The Highbury Theatre Centre Limited was established for the public benefit lo promote. maintain, improve and
advance education through the perfomance and praGtising arts, including drama, mime, dance, film, music and
visual arts.
Achievaments and performance
Signlfjcanl activities and achEveirJenÉs against objectives
The theatre tries lo include a usative and challenging programme of stage performances ￿lch may or may not be
seen at other theatres nab'onally bul are of an interest to our patrons.
The theatre also hires out their facilltles to other theatres lo stage their pr￿1￿ctIonS and also allows local artist to
display their works to our patrons.
Producb'ons during Ihe year..
Attendance
The King's Speech
Sheila's Island
Notes from a Small Island
Home. I'm Darling
The Father
Little Wars (Studio)
Th& Heartless Princess
Hansard (Studiol
Stepping Out
32%
50%
380
470
22%
83%
30°
680
49Yo
FinanGlal revlew
A summary of the Charity's finatKes is sel out in the attached finanaal statempnts Igr the year ended 31 July 2025.
Income from charitable activities amounted lo £82,687 12024 - £77,330). Costs of theatre activiti'es amounted to
£122,781 12024- £110.7451
Investment properties generated rental income of £39,951 12024- £36,992) for the year.
The net sijrplus in ft2nds of £13,551 {2024- £7,672 deficill.
Accumulated unrestrict8d funds carried forward at 31 July 2025 were £1,845,96312024- £1,832,412).
Accumulated restricted fvnds carried fO￿ard al 31 July 2025 were £62,27612024 - £62,276).

HIGHBURY THEATRE CENTRE LIMITED
TRUSTEE, REPORT IINCLUDING DIRECTORS, REPORTI {CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Rgserves poI￿Y
11 is the policy of the charity that unreslrieted funds which havè not been designated for a specific use should be
maintained at a Jevel equivalertrt to bett￿een Ihiee and six month's expendtture. The trustees Considei that reserves
at this level will ensurè that, in the event of a significant drop in funding, thèy wll be able to ¢onlinue the charity's
cuttent activities while consideration is gwen lo ways in which additional funds rnay be raised. This level of resèrves
ha5 been maintalned throughoul the year.
Plan$ for future perfodÈ
The charity has a fvll progiamme of performances planned foT the forthcoming year. It will continue to be activety
involved iri the local community and encourage participation throughout.
Structure, govèrnance and management
The organisab'on is o charitable company limited by guaianlee, incDrpor8tÈd 3 January 1949 as 8mended by special
solutions dated 20 February 1990. The company was establishèd under a Memoiandum and Artides of
Association, which imposes restrictions Dn thè s¢trpe of the Chaiity's operations. The actimlies of thè Chanty are
limrted lo those related to the regeneration of its area ol benefit and the promoion of the benefit of the inhabilanls of
s a￿a Df benefit. Thè Metnorandum ofAssOciat￿n provides that the Charity h¥$ the power lo invest monèy not
imtnedialely required for the Charity's objects in such investments, secuttties or property ès may be thought fit by
thè company. The company is govemed under ils ArticlÈs ofAssoaalion. In the event of the company being wound
up, members ale required lo contribErte an amount not exceeding £1.00.
The truste&5, who are a150 the directors for the purpose c)f company law, and who served during the year and up to
the date of signature of the finanrAal statemènts were..
Mr S Bowyer
MsMILane
Ms C Lea-Redmond
MIAC Noakes
Mr M C Walker
Mr K R Agnew
Mr R J Irons
Ms A J Cahill
MrPJOwen
Ms S F Haynes
Mr R Phillip5
Ms E Parry
MS G Evar¢s
RecruitARent and appointm6nl of tmstees
We have people who are playèr members of the Highbury Thèatre. Those who are invofved with the running of the
Theatre over al least 3 ypar5, not necessarily as actors, are invrted to becorne members Of the oompany Highbury
Theatre Centre Limited. As the company is limited by guarantee, thesè membeis agree to Pay £1 in the event of
winding up of thè company. These members are those who attend the AGM and can vole lo approvè the accounts
knd lo elect the directors to the Board. The Oirèctors of the company, Highbury Theatre Centre Limited, are also
Trustees of the charity.
None of the trustees has any beneficial inteTe5t irl the company. All of Ihe Iwslees are membets of the crAmpany an¢J
guarantèè lo contribute £1 in the event of a winding up.

HIGHBURY THEATRE CENTRE LIMITED
TRUSTEE. REPORT IINCLUDING DIRECTORS. REPORTI (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
Thè ¢ompany's current policy ￿ncernIng the payment of trade creditors Is to follttw the CBI'S Prompt Payers Code
IcopEes are available frotn the CBI, Centre Poinl, 103 New Oxford Street, London WC1A 1DU).
The company's current policy conceining the payment of trade cr￿rtOrS is lo..
settle the terms of payment with suppliers when agreeing thè temis of each Iransaction.,
ensure that suppliers ar8 madè aware of the terms of payment by inclusion of the relevant terms in C￿ntraCts.
and
pay in accor(lance wllh the company's conlr8¢Lual and other legal obligations.
Organisglional sIn￿lU
The Charity has:
Audien￿ members
As thÈ theatre is a 'Club' under the LIGen￿ng Act people attending lo watch a performance
h8Vts to be at least an Audience Member. They are able lo use the facilitlès 81 thè ihealre.
Player Members - We ask that thosè pèoplè who want to wrfoim in our plays that thèy ore Player Members. We
also ask th81 people who help in the running of the theatre are 8150 Player Membèrs.
The Charity has a Boar(l of Directors who are the Tnjslèès. The Board confirms the work done in the thèatrè. There
are various committeès that ￿e￿￿eS what plays we will perform, what work need5 to be done lo improvè thé theatre,
and a player's management lo run the ac￿'n9 $￿e.
Audrtor
In accordanee wilh the company's aTticle5. a resolution proposing that Haslehursts Limited be rèapp(Trinl&d as
auditor ofthe company Mll be pul al a General Meel4)g.
The trustee. feport was approved by the Board ofTruslees.
MrPJOwen
Trustèe
Dalè..

HIGHBURY THEATRE CENTRE LIMITED
STATEMENT OF TRUSTEE. RESPONSIBILITIES
FOR THE YEAR ENDED 31 JULY2025
The trustees, who are also the directDrs of Highbury Theatre Centre Limited lor the purpose of company law, are
responsible for preparing the Trustee. Report and the finanual staleffjenls in accordance with applicable law and
United Kingdom Accounting Standards (United Kingdom Genèrally Accepted Accounting Practice).
Company law requirès the trustees to p￿parE financial statements for each financial year whith give a true and fair
view of the slate ol 8ffairs of the charity and of the incoming resour￿$ and application of resource8, including the
in¢ome and expenditure, of the charitsble company for that year.
In preparing these finanaal stslernenls, the trustees a￿ iequireLI to..
- select suitable awunting policies and thèn apply them consislently.,
obseNe the methods and principles in thè Charities SORP.,
make judgèments and estimates that are reasonable and prudent.,
stste whether applicable UK Accounting Standards havè bèen followed. subject to any material departures
disdosed and explained in thè financial ststements., and
Prepare the financial statemènts on the going con¢em basis unless it is inappropriate to presume that the charfty
will continue in operation.
The trustees are responsibl6 for kÈeping adequate accounting iecords that disclose with rèasonable accuracy at
8ny lime the finanaal position of the charity and enable them to ensure that the financF31 st8tÈmenls cornp￿ wilh the
Companies Act 2Wfj. They are also responsible ft>r $#feguard￿g the assets of the charty and henee for taking
reasonablè st8ps for the preverFtion and detection of fraud and other irregularities.

HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Opinion
We have audited the ffinancial statemènts of Highbury Thealie Centre Limited (the 'ch8rity'1 for the year ended 31
July 2025 which cornprise the statement of finawal activities, the statement of fin8neial position and notes to t
financial slalements, including signrficant 8CLounling policies. The finaw)Thal Teporting framework that has been
applied in their pieparation is applicable 18w and United King(knm A¢cL)unting Standards, induding Finanual
Reporting Standard 102 The Financial Reporting standa￿ applFcable in th& UK and Republic of I￿l￿n￿ (Uniced
Kingdom Generamy A¢¢epled AccountirYJ Practice).
In our opinion, the finanaal statements".
give a true and fair view of the stalè of the eharrtable cornpanls affairs as al 31 2025 and of ils Sncoming
resources and application of resoureÈs, for the year then ended.,
have been propedy prepared in accordan￿ wrth United Kingdom Generalty Accèpted Account4ng Practce,.
havÈ ￿en prepared in accordance with the requtrements ofthe Companies Act 2006.
Basis for opinlon
We conducted our audit in accordaneÈ with 1ntèmab.onal Standards on Auditing (UK) (ISA5 IUIQ} and applicable
law. Our responsibilities under those 51andai(Js aTe further described in the AUdftto￿s m&ponsibilitios for the audit of
the financial slalemenls sèdion of oui report. We are independent of the charity in Alxordance with the ethical
requirements that are relevant to our audit CTrf the finanaal statements in thÈ UK, ineluding the FRC'S Ethical
Standard, 8nd wè have luKilled our other ethical responsibilities in accoidance wlh these requirements. We believè
that the audit ewdence we have obtained is suffiaenl and appropriate lo prowde a basis for our (￿l￿10n.
Conclusions rnlating to going eon¢ern
In auditing the finanaal statements, we have conduded that the trustee, use of thè going coneèm basis of
accounting in the preparation ol the fjnancial slalements is appropriate.
Based on thè work WÈ have pèrformed, we have not idenl1￿d any material uncertainties Telaling to even15 or
conditions that, individually or collectively, rnay cast significant doubl on the ¢harity's abilty lo continue as a going
concem for a period of al least h¥efve months from whèn the finanixal statements ale authorised for issue.
Our iesponsibilrties and the responsibilities of the Iwslees with respect lo going concern are dès¢xib8d irF the
relevant sectiOFlS of this report.
Other Infom)atlon
The other infomiation comprises the infomiation included in thè annu81 report other than the financial 51alements
and our audrtorfs report Ihereon. The trustees are r&sponsiblÈ for thè other infr>rmation eontainéd wrthin the annual
report. Our opinion the finan￿al 5taternenls does not cover the other information and we do not express any form
of assuiance conclusion thereon. Our responsibility 15 to read the other infomation and, in doing so, consider
whelheT the other information is materially inconsistent with the financial statements or our knowledge Obtain￿ In
the course of the audit, or othe￿ise appears to be materially misstated. If we identify such material inconsistencies
or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement
in the ffi'nancial statements themselves. If, basÈd on the work we havè ￿rformed, we condude that thèrè is a
material misstatèmènt of this other information, we arÈ required to report that fact.
We have nothing lo report in thi5 regard.
Matters on whlch we are requlred lo report by exceptlon
We have nothing to report in ￿$[￿Ct ckf the following matlers in relat'on to which th6 Charities (Accounts and
Rèports) Règulations 2008 requirès us to report to you if, in our opinion..
the information given iri the financial statements is rnconsistent in any Material respect wilh Ihe trustee, report.,
or
suffiaenl accounting records have not been kept.. or
the finanual statements arÈ not in agrÈÈmènt with thè a(fA)unting rècords,. or
we have received all the hnfDirnation and explanations we requÉre for our audit.

HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT {CONTINUED)
TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Rosponslbilities of trustae$
As explained more fulty in the staterllenl of trustee, responsibilities, the trustees, who are also the direetors of the
charity for the purpose of company law, are responsiblè ft>r the preparation of the fjnancial statements 2nd lor being
Satisfied that they give a true and fair vw, and lor such internal control as the trtsslees determine is nèoèssary to
enable Ihe preparation of financ481 slalements that are free from material misslJlement, whether due lo fraud or
error. In preparing the financial slalements, thè Iru51ees are responsible for assessing the Charity's ability to
conlinve as a going concern, disdosing, as applicable, matters related lo going concèm and using the going
concern basis of at¢ounling unless the Iwstees either intend to liquidate the charitable company or to ￿aSe
operatsons. or havè no realistic attemalive bul to do so.
Auditorfs respDnsibllltiÈs for the audkt of the financial ststemonts
Wè have been apptsinled a6 auditor under section 144 of the Charftles Ad 2011 and report in aco)rdance with thè
Act and relevant regulations made or having Èffect the￿under.
Our objectivè5 are to obtain reasDnable assurance about whether Ihe finan￿al slalements as a whole are free from
material misstatemènt, whether due to fraud or &rror, and to issue an audrtor's report that includes our opinion.
Reasonable assurancè is a high level of a58ur3nce bul is not 3 guararktee Ihal an audit conducted in accordan
with ISAS (UK) will a￿ayS detect a material misstatement when it Èxists. Misstatements can arise from fraud or
error and are considered material if, individually or in the 899regate, they could reasonably be expected lo influeneé
the economi¢ decasions Of users taken on the basis of these financial statements.
The extent ID which our procedures are capablè of detecting irregulatiti"es, including fraud, is dètsiled below.
We obtainèd an underslandrng of Ihe CDmpanV% lÈg81 and regulatory framework and the industry in which
operates. We consmlered the risk of acts by thè company that might have contravenèd applicable laws and
gulakn'ons, including fraud. Our audit procedures were designed to respond lo the risk, recognising that the risk of
not detecting a matèrial misstslement due to fraud is higher than the risk of not detecting one resU￿1ng from error,
85 fraud may invofve deliberate coneealmttnl by way of forgery, Intent￿}nal represenlalions or through collusion.
W8 fo(x)8sed on laws and regulations which could gwe rise lo a matèri81 misstslement in the finaTK?al statements,
induding, but not lÉmited lo the Companies Act 20￿ and UK tax legislalDn. Our tests in¢luded agreeing the
financial statement disclosures to undertying supporbng documenlalioll, enquiries with manaoemenl and third party
company repres8ntalives. There are inherent limitations in the audrt procedures describèd above and, the fvrther
removed non-eompliance with laws and iegulalions is from the events and transactions refiected in the finanoal
statements. the less like￿ we would become aware of tt. ￿ did not identify any key audit mattèrs relating to
irregulèrilies, including fraLJd. As in all our audits, we also addressed the risk of managemenl ovèrridè of Iniernal
controls, including testing jourrials and evaluating whether theie was e￿dence of bias by the directors that
represented a risk of Fnaterial misstatement due to fraud.
A further description of our responsibilrties is available on the Finawal Rèporting Council's website at.. https.'Il
vANw.fr¢.org.ukJauditorsrttsponsibililies. This dèscription fofftis part of rAJr audltovs report.
Use of our report
This report is made solely to the charity's trustees, as a body, in accordanGe with Part 4 of thè Ch8rities (Accounts
and Reports) Regulations 2008. Our audit work has been undertaken so that we might state lo thè charity's trustees
those matters wè arè rèquired lo state to them in an auditor's report and for no other purpose. To the fullest extent
petmitted by law, we do not accept o¥ assume responsibilty tD 2nyonè other than the charity and the charity's
trustees as ¥ tK)(ty, for our audit work, for thÈg report, or for the opinlons we have formèd.

HIGHBURY THEATRE CENTRE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE TRUSTEES OF HIGHBURY THEATRE CENTRE LIMITED
Stuart Penlokl (Senior Statutory Audltorl
For and on behalf of Haslehu15ts Limited, SlaluloryAuditor
Chartered Accountants
88 Hill Village Road
Sutton Coldfield
West Midlands
B75 5BE
England
Dale.. IG. CJL4 2 L 6

HIGHBURY THEATRE CENTRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 JULY 2025
Unrestricted Restricted
funds
funds
2025
2025
Totsl Unrestd¢ted Restricted
funds
fund$
2024
2024
Total
2025
2024
Notes
Intomè from:
Dc)nalions and legacies
Charitable adniitiès
Investments
27,346
82,687
39,951
27,346
82,687
39,951
3,124
77,330
36,992
3,124
77,330
36,992
Totsl income
149.984
149,984
117,446
117.446
Expendlture on:
Charitable adiMties
136,433
136,433
125,118
125,118
Totsl expenditure
136,433
136.433
125,118
125,118
Net Incomoll¢xpendltu￿Tr
movement in fvnds
13,551
13,551
17,6721
{7,6721
Reconciliation of funds..
Fund bala￿eS at 1 August
2024
1,832,412
62,276 1,894.688
1.84J,084
62.276 1.9C)2,360
Fund balance$ at 31 Juty
2025
1,845.963
62,276 1,908,239
1,832,412
62,276 1.894.688
The statement of finana81 activities indudès 311 gains and lossès rÈcognisèd in thè year. All ineomè and expènditure
derlve from contlnulng 8Ct4viJes.

HIGHBURY THEATRE CENTRE LIMITED
STATEMENT OF FINANCIAL POSITION
AS AT31 JULY2025
2025
2024
Nots$
Fixed assets
Tangible assets
Investment property
12
13
794,454
800,OLX)
789,079
81M),OL
1,594,454
1.589,079
Cunpnt ass•ts
Stocks
Debtor5
Cash at bank arKI in hand
14
15
1,731
14,347
308,751
1,349
2,233
314,867
324,829
318,449
Creditors.. amounts falling due within
ofle year
16
111,044}
112,8401
Net cufftnt a3sets
313,785
305.609
Tolal assets less current Ilabllltles
1,908,239
1,894.688
The funds ofthe chaiity
Reslri¢ted ineA)me funds
Unrestricted funds
17
18
62,276
1,845,963
62,276
1,832.412
1,￿8,239
1,894,688
Thè eompany is entitlèd tr) the exèmption from the audit requirement contained in section 477 01 the Companie5 Act
2CQ6, for the year ended 31 July 2025.
The directors acknowledge their respor)sibilities for complying wrth the requirernents of Companies Act 20(
w￿h respect lo accounting records and the preparation of financ4al statements.
The Membe￿ have not iequired the ¢x)mpany to obtain an audit of its finanaal slalemenls under the requirements
of the Companies Act 2006, for the year in question in 8¢u)rdancÈ with section 476.
These ffinancial s18lerpents hovè beèn prèparèd in actordance with the provisions applicable to Cotnpaniès Subject
to the small ￿MpanieS regirne.
The financial statements wèrè apprO￿d by the Iruslees on .
l ts e)L, Z.uLL
-kn￿-
Mrs
Tntstee
Ms A J Gahill
Tru$tee

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY2025
A¢¢ounting polici8s
Charlty Infomiation
Highbury Theatre Centre Limrted is a privato company limited by guarantee incorporated in England and
Wal6s. Thè regigleied Offi￿ is Sheff￿d Road, Sutton Coklfield, Wesl Midlands, 873 5HD, England.
1.1 Basis of prepardtlon
The finan￿01 statements have beèn prÈpared in accordance with the charitls goveming doournenl, the
Companies Act 2006, FRS 102 The Finanrial Reporting Standard applicable in the UK and Republic of
Irèland. and the Charitie5 SORP "Accounting and Reporting by Charities." Slalement of Recommended
Practice applicable lo chaiilies preparing their aceounts in accordance with the Financial Reporting Standard
applicable in the UK and Republic ol I￿land IFRS 1021" Th8 charity is a Public Benefft Enlty as defineL¥ by
FRS 102.
The charrty has taken advantagè of the provisions in the SORP for chariltes not to prepare a statement of
tash flows.
The financial statements are prepared in slerting, which is the functional currency of thè tharity. Monetary
amourils in these financial statements are rounded tr> the ne8iest £.
The financi81 statements have been prepa￿￿ under the histori(¥l cosl convention. modified to indude the
revaluation of freehold properties and lo include investrnent properties atKI certain finandal Snslrumenls al fail
value. The Principal accounting policies adopted are set out bèltwi.
1.2 Golng concèm
Al the lime of appro￿n9 the financral statemènts, thé tru$lees have a reasonable expeelation that the charty
has adequate resources to continue in operation81 Èxaslence for the foreseeable future. Thus the trust@8S
continue Its adopt thè going COn￿rn basis of accounting in preparing thè financial 51alernents.
1.3 Charftsble funds
The unr&strietÈd fLJnds of a charity compromise of the unexpended balances of donalions and grants which
are not subject to Specific c4)ndrtions by donors and grantors as to how they may be used. These indude
designated funds which have been sel asidè out of (tnrestricled funds by the trustees fof specific purposès.
The restricted fund5 of a charity compromise of the balances of donallons and grants whth are subiecl lo
spectfic condibons by donors and grantors as to how they may be used.
1A Income
Ineome is reeognised when Ihe charity is leg81ty entitled to it after any pèrforrnance conditions have been met,
the amounts can be measured reliabty, and (( is probable that incomè will be re￿Ived.
C8sh donations are recognised on re￿Ipl. Other donations arè rècx>gnised once the charity has been not￿ed
of the donation, unless performance conditions require dèfeNAI of the amounl. Income lax recoverable in
relation to donations received under GiftAid or deeds of e£)venant is recognised at the lime of the donation.
Legacies are recognised on receipt or othe￿ise rf the charity has been notified of an impending distribution.
the 3moLint is known, and re￿Ipt is expected. If the arllounl is not known, the legacy is Irealed as a
¢onlingenl asset.
io-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
Aeeounting policies
Icontinuedl
1.5 Expenditure
Expenditure is recognised oncè thère 15 a legal or construth've obligation lo transfer &CDnomic benefit to a
third party, it is probable that a transfer of economic benofft5 win be required in settlemènt, 8nd the arnount of
the obligation can be measured reliably.
ExpenditLJre 18 classified by actiMty. The costs of eath actmty are made up of the total of direct costs and
sharèd costs, including support costs involved in undertaking each actiwty. Direct costs attributable lo a $4ngle
activity 3Te allocated direct￿ to that activity. Shared costs which Contribute to more than one ath'vity and
support costs whith are not 8ttribulable lo a single astiwty are apportioned between those actiwlies on a basi5
consistent with thè use of resources. Central staff cx)sts are allcKated on the basis of time spent, and
depreaation charges are allocated on the portion of the asset's use.
1.6 Tanglble ffxed assets
Tangible fixed assets are initi81ty meaSUTed al cost ar￿ subsequenlty measured al cost or Va￿all0￿, nel of
depreiialion and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their ￿57￿ual values over their
useful lives on thè following bases..
Freehold land and buildings
Plant and equipment
2% straight line on cost
10% reducillg balance
The gain or loss arising on the disposal of an asset 15 determined as the drff8rence bèlween the sale pro￿edS
and the carying value of the asset, and is recognised in the statement ol financial adivibes.
Undpr prèvious UK GAAP the company had a policy of revaluing freehold land and buildings_ On 113nsition to
FRS102 the charity elected to use the prevÈous revaluation at 5 July 2013 as thè dèemed cost for those
assets.
1.7 Investrnent property
Investment propety, which is propety held lo eam rentals andlor for caprtal appiecialion, is initially
recognised at cost, which in¢lude5 the purchase c05t and any directly attribulable expenditure. Subsequenuy
il is measured at fair value * the reporting end date. The surplus or dèfirxt oft revaluation is recognised in
profit or loss.
1.8 Impalrnwnt offixed assets
At each reporting end date. thè itharity rèviews the carying amotjnts of ils tsngible ass&ls to deteTrnine
whether there is any indication that those assets have SLJffered an impaimienl loss. If any such indication
exists, the re¢overyable 8rn0unl ol the asset is estimated in order to dètèmiine the extent of the impaimient
losg (rf any).
1.9 Stock6
Stocks are stsle(l al the knwer of cost and estimated sellÉng priGe less costs to ￿mplete and sell.
1.10 Cash and cash equivalents
Cash and cash equivalents include cash in hand, dèposÉts hdd at Call wrth banks, other 5hort-lem) liquid
inve51rnen15 wlh original maturities of three months or lèss, and bank overdrafts. Bank overdrafts are shown
within borrowings in current liabilities.
11

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 JUL Y2025
Accounting pollelgs
Icontinuedl
1.11 Financial Instruments
The charity has eleGted lo apply the provisions of Section 11 'Basic Financial Instruments, and Section 12
'Other Financial Instrumenls15sue5' of FRS 102 to all of its finanei81 instrumertts.
Fin8nci31 instruments are recognised in the tharity'5 balan￿ sheet when the charity bÉcomès party lo Ihe
contractual provisions of the instrument.
Financial assèts ènd li8bilitie$ are offset, with the net amouFts piesenled in the financial statements, vth8n
Iheip is a legally enfoiceable right to sel off the recognised amounts and there is ar) intention to settle on a nel
basis or lo realise the asset and Sètt￿ thè liability simultaneously.
Basic financlal assets
Basic financial assets, whieh include debtor5 and cash and bank balan￿$, are Inltlally MeaSu￿d al
transaction price including tr8ns8ction costs and are subsequently carried at amorlised oosl using the effective
interest rnelhod unless the arrangement constitutes a financing Iransacb"on. where the transaction is
measured at the present value of the future receipts discounted at a market rdle (Trf inleiesl. Finanual assets
dassified as receivable within one year are not amortisÈd.
Basic financial liabllities
Basic financial liabilities, includin9 crèdttors and bank loans are initially recognised al transaction price unles5
the arrangement constitutes a financing transaction, where the debt instrument is measured al the present
value of the future payments discounted at a m3rkel rate of interest. Financial liabilit￿S dassifièd as payalAe
within one year are not amortised.
Debt instruments are subsequenlty carried at amorlised cost, using the effectNe interest rate method.
Trade creditors arè obligatiDns to pay for goc%ls or setvices that have been acquired in the ordinary Gourse of
opèrations from supplièrs. Amtsunls payable are classified as current liabilities if payment is due wrthin one
year 01 les5. If not, they are presented as non-current liabilities. Trade ¢￿ditorS afe recogrFised initially al
Iransacb'on price and subsequently measured at amortised cost using thè Èffécb"ve interest method.
D*rn¢ognitic•n of financial lffabilities
Finanaal liabilities are dèrècognisèd whèn th6 charity's ujrntractual obligations expire or are discharged or
cancelled.
1.12 Short temi debtors and creditors
Short tem debtors are measured al transaction price, less any impaiment. Loan's receivable is measured
initially at fair value, net of transaction Costs, and are measured subsequenuy al amorl.sed Cost using the
@ffectDie interest method, less any impairmènt.
Short lem) creditors are measured al the Iransadlon pri(*. Other financial liabilities, induding bank loans, are
easured Initial￿ al fair value, nel ol transaction costs, and are measured Subsequent￿ al amortised cost
using the effective interest method.
12-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
Critical accounting estimatès and Judgemènts
In the applrcalion of the charty's accounting polieiès, the trustee$ are required to make judgements, Bstimates
and assLJmptions about the carrying amount of assets and liabilities that are not readily apparent from other
sources. The eslimales and associated assumptions are based on historical experien¢e and other factors that
8re considered to be relevant. Actual ie5ulls rnay dnyer from these @stimalès.
The estimatès and undertying assumptions are ￿vieWed on an ongoing ba515. Revisions to accounting
estimates arè rècognised in the period in which the eslitllale is Tevised where the revision affects only that
periDd, OT in the period of the revision and fLrture peiiods where the revision affects both Current and future
periods.
Key sources of èstimation uncertainty
Dèpreclatlon and residual values
The TrLlStees have iewewed the asset lives and associatèd rÈsidu81 values of al fixed asset cal¢ulalitin8 and
have eoncluded that asset lives and residual values are appropriate.
Ihcome from donations and ￿9#¢1*&
Unrestrfctèd
funds
202S
UnrÈstrfeted
fund$
2024
Donations and gtftg
Grants
25.646
1.700
894
2,230
27.346
3,124
IncoTh from charitablè aetrvhiès
Unrestricted
funds
202S
UnTestricted
funds
2024
Theatre Income
Thèat￿ actiwlies income
82,687
77,330
13-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JUL Y2025
Income from investments
Unrestricted Unrèstrictèd
fund$
funds
2025
2024
Rental Inttome
Interest recEivabk
38,560
1,391
35,910
1.082
39,951
36,992
EX￿ndIturn on eharltsble activities
Theatre
Expenses
2025
Thèatrè
Expenses
2024
Dlr•et eosts
Depreciation and impaim)ent
8er and Catering costs
Development Costs
Players- Total costs
Theatre- Total costs
Film dub costs
18,620
10,631
5,553
17.860
69,319
798
19.fj05
9,6[
5,656
16,8
57,918
1,070
122,781
110,745
Share Df Support and governance costs lsee notè 71
Govemance
13,652
14.373
136.433
125,118
Analysls by fund
Unrestricted funds
136.433
125,118
Support costs allocatsd to a¢tivitie$
2025
2024
Governance costs
13.652
14,373
Anatysed befvfftn..
Theatre Expenses
13,652
14.373
14-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
Support costs allocatèd to activitsè¥
{ContSnuèdl
2025
2024
Govfrman¢e ¢osts comprise:
Audrt fe
Legal and profess￿nal
Bookkeeping
7,877
4,886
1,S10
4,025
3,563
13,852
14,373
Net movement in fuTrJ$
2025
2024
The net movement in lunds is ststed after chargingl{(xedlling}=
Fees payable for the oudil of the ¢h8rity8 financ4al statements
DepreciatK>n of ownÈd tangiblé fixèd assèts
7,877
19,605
18,620
None of thè Injstees lor any pèrsons eonnectèd with them) recewed any remuneratiori or beneffts from the
(tharity during thè year.
10 Employees
The average monthly number of emphyees durlng the year was..
202S
Number
2024
Number
Totsl
There were no employees whose annual remuneration was more than £60,(XIO.
11 Taxation
The charity is exempl ffom laxalion on ils activities because all its income is applied for charitsble purposes.
15-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
12 Tangible fixed assets
Freèhold land
and bulldlng
Plant and
equlpmBnt
Totsi
Cost or valuation
At 1 August 2024
Additions
807,230
138,971
23,995
946,201
23,995
Al 31 Juty 2025
807,230
162,966
970,196
Depr*¢iation and impairn￿nt
Al 1 August 2024
Depreryation charged in the year
t(￿,903
9,745
50.219
8,675
157.122
18,620
Al 31 July 21Y25
116,648
59.094
175,742
Carying amount
Al 31 July 2025
690.582
103.872
794,454
At 31 Juty 2024
7L)0,327
88,752
789,079
Land an4J buildings with a carrying amount of £700.327 were revalued al 5 JU￿ 2013 by Browne Chartered
Surveyors. independent valuers not connerted with the chaiity on the basis of market value. Thè valuation
conforms to Inlemational Valuation St8ndaid$ and was based on recent rnarket transactions on arm's length
terms for similar propertiès.
At 31 July 2025, had the revalued assèts beèn eArrièd at historic ¢tsst less accurnulaled depreckglion and
accumulated impairnienl 10&8eS, thèir carrying amount wouky have been approximalety £980,780 12024
£986,127).
Induded in freehold land buildings is land valued al £320,CX)O which is not depreciated.
13 Inve8tsnènt property
2025
Falr valuè
Al 1 August 2024 and 31 July 2025
800.000
Investment property cornprises of a historic cost value of £565,OOC). Thè fair valuè of thÈ invèstmènt propèrty
has been arrived al on the basis of a valualion carried out at 14 Oecember 2020 by Green & Co Limited,
Charteied Surveyors, who are not wnne¢ted with the thaiity. The valuation was rnade on an open matkel
value basis by iefeience to market evidence ollran58Ction wices for simLlar properties.
14 Stocks
2025
2024
Consumable slodrs
1,731
16-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2025
15 Debtors
2025
2024
Amt>unts falling due within onè yÈai:
Trade debtors
OlheT debtors
PrÈpayments and accrued Income
589
7,532
6,226
2.233
14,347
2,233
16 CredltorB: amounts falling due within one year
2025
2024
Othèr tsxalion and social securty
Tiade creditor5
Accruals and dèferred income
812
2,842
9,186
339
10,705
11,044
12,840
47 Restricted fvnd
Thè reslricled funds of the Chartty (x)rllprise the unexpended balances of donat¥Jns and grdnts held on trust
subject to specific condrtion5 by donors a5 to hDW *hÈy may be used.
At l August
2024
At31 Juty
2025
62,276
2.276
Prevlou$ year:
At l August
2023
At 31 July
2024
62,276
62,276
18 Unrestrlctsd funds
The Unrestrict￿ funds of the charity comprise the unexpended balances of donations and grants whl¢h are
not subjed lo specific conditions by donors and grantors as lo how they may be used. Thèse includè
designated fvnd5 which have been set asidè out of unreslrided fvnds by the trustees ft)I specific purposes.
At 1 August
2024
In¢ominy
rèsourtès
Resources
expended
At31 Ju
2025
General fvnds
1.832,412
149,984
1136,433)
1,845,963
17-

HIGHBURY THEATRE CENTRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY2025
18 Unrèstrfctèd funds
(Continued)
Previou$ year:
At 1 August
2023
In¢omlng
re¥ources
ResoU￿e5
Èxpended
At 31 July
2024
General fvnds
1.840,084
117,446
(125,118)
1,832,412
19 Anatysi$ of net assèts funds
Unrestritted
funds
2025
Rèstricted
funds
2025
Total
2025
At 31 July 2025:
Tangible assets
Investment propèrtiès
Cuirenl asselslll1abilit￿s)
794.454
800.000
251,509
794,454
8QO.000
313,785
,276
1,845,S63
62,276
1,908,239
Unresbl¢ted
funds
2024
Re5￿Cted
funds
2024
Total
2024
At 31 July 2024:
Tangible assets
Investment properties
Cutrent asselsllliabilitièsl
789.079
800,000
243.333
789,079
8￿,000
305,609
62,276
1.832,412
62,276
1,894.688
20 Related party Iransactions
During the year Iruslees expenses amounted to £14,181 12024 - £11,008). At the year end £458 was owèd
from Irustees12024- £628 owed lo trustees).
18