Company number.. C(J556251 Charity Number= 233801 Pioneer Theatres Limited Trading as "Theatre Royal Stratford East" Report and financial statements For the year ended 31 March 2025 "AEE8IFIU* 30110r2025 COMPANIES HOVSE A13 #125 SA YER oo•oo ••••• VINCENT ooo•ooo ••••••• Ploneer Theatres Umlted (fheatre W Strarford East) Contems For the ￿ar Ènded 31 Marth 2025 Reference and adminlstratfft information Trusiee5' annual repon Independent auditor's report Consolidated 5taiement of ftnancial aaiviiies lincorporaTln9 an income and expendiiure accounil Balance sheets Consolidated statement of cash flows................................................................ . -23 .28 .29 -30 Notes to the financial staiements .31 Ploneer Theatres Limlted (fheatre W Strafftird East) RefererKe and administrat￿ information For tho year ended 31 March 2025 C¢mpany number 00556251 incorporated in the United Kingdom Charity number 233801 registered in England and Wales Reglstered office and Gerry Raffles Square Operationaf address Strarford London E15 IBN Trading name Theatre Royal Strarford East Trustees Trustees. who are a150 directors under company law. who served durin9 the year and up to the date of this report were as follows." 8arone5s Hodge of Barking. Chair (resigned 28 February 20251 Cllr Joshua Garfield Dr Elizabeth Glyn Patricia Ham2ahee Simon Haynes Christopher Hird (Interim Co-Ch&rl Francesca Hutchin Franceca Moody Ilnterim Co-chair) David Olaniregun Martin Pilgrim MBE Bryan Raven Paula Roberts Robert Whiteman (resigned l July 20251 Artlsilc Director Lisa Spirling EXe￿il¥e Dlrector Hanna Streeter Banktfs Na￿￿st Bank plc. I Stratford Broadway London E154DX Auditor Sayer Vincent LLP Chartered Accountants and Statutory Auditor I l O Golden Lane LONDON ECIY OTG Ploneer Theatres Limited mieatr* Royal Strarfofd Eas Trustees. annual report For the ￿aff ended 31 March 2025 Ch￿r.5 Statement 2024-25 has been an artistically excellent year for Stratford East. Both on our stage and across our learning & participation work. we have delivered a vibrant programme which speaks to our audiences and our local community. while celebrating our 1401h Birthday with a series of community events which reflect on our history and our values. We have achieved critical acclaim for all producrions. 2 Olivier Award nomirtatiorts and significant box office success in the second half of the year. It has also been a year of significant leadership change for the theatre. with the departure of our Artisiic Director. Nadia Fall. our Executive Director. Eleanor Lang and our ChaTrr. Rt Hon Dame Margaret Hodge MP and we would like to exiend our thanks to all of them for everything they have done for Siratford East over the past 8 years. We continue to face rough challenges. with inflation. standstill statutory funding. the Ioss of our local authority grant. a challenging environment for fundraising and si9nifrcant investment needed to marntain our Grade 11 listed building for another 140 year5. In keeping wirh tradition. our shows during the year aimed to tell important stories. stT)ries that were entertaining. mowng and challengin9. Our work included the extraordinary Now I See. written, choregraphed and directed by Lanre Manalou. a sold out remval of Mike Leigh's classic Abigai15' PJrty. directed by Na(lia Fall. a hugely successful production of Animal FArm in a new version by Tatty Henne55y, co-produced ¥￿th Leeds Hayhouse and Nottingham Playhouse and Azuka Oforka's searing new play. The Women olLlanrumney. co-produced th the Sherman Theatre. Our annual pantomime this year was hnocchio. which delighted adults and children alike and reunited Stratford East pantomime règular's Trish Cooke Ibook and lyrics). Rob Hyman (music and lyrics) and Omar F ok￿ Idirertorl. Our Learning & Participation work continues to have a profound local impact. Our adult drama programme continues to be very popular. as has our community social programme. But our main f￿u5 remains with young people. with the Young Company, Youn9 Techs and Technical Insight Days all contribuiing to our offer. Our Community Ambassador's scheme continues this year. and we have built a team of exceptional volunteers who are Teaching our ro groups and ne￿workS in East London and bringing new audiences to our theatre. Our Freelance Royalty Scheme also continues to grow. and now has over 1.500 members. as we provide much needed free support io local freelancers. On behalf of the Board. we would like ro express heanfelt thanks to the whole team. led bv Nadia Fall. Artistic Director. and Eleanor Lang. our Executive Direcior. for all their hard work and dedication. At the same time, we are also delighted to welcome knsa Spirling as our new Artlstic Director this year, and very much look forward to a new phase for Stratford East. and oneer Theatres Llmlttd (Theatre Royal Strarford Eas Trustees. annual report For the ￿ar ended 31 Marth 2025 the renewed energy and creative thinking which Lisa and incoming Executive Director Hanna Streèttr will bring. The year ahead will no doubt present new challenges. and it will certainly be another year of change. but we remain confident that the theatre is in a strong p051tion. We would also like to extend our thanks to the trustees. who have provided important advice and support ro the organisation and who give of their time freely. The rrustees are grateful to Arts Council England for their ongoing support and to the London Borough of Newham for iheir funding this year. as well as to all our supporters who havè supported the work we do both on and off the sta9È. Christopher Hird and Francesca Moo(Jv Interim Co Chairs Ploneer Theatres Llmittd (Theatre Royal Strarford East) Trustees. annual report For the year ended 31 March 202S TRUSTEE REPORT The trusiees present their report and the audited group financial statements for the year ending 31 March 2025. The financial sthtements have been prepared in accordance with current statutory reouirements.. Statement of Fiecommended Practice ISORP) applicable to charities preparing their accounts in accordance with the Financial Reporiing Standard applicable in the UK and Republic of Ireland (FRS 1021 leffective l January 201 S}. Objectives anil actI￿tieS The trustees rewew the aims. objectives and actiwtie5 of the charity each year. This report l¢)ok5 at what the charity has achieved and the outcomes of irs work in the reporting period. The trustees report the success of each key activity and the benefits the charity has brought to those groups of people thar it 15 set up to help. The review also help5 the rrvstees ensure the charl￿S aims. objectives and acrivitie5 remained focused on its staled purposes. The objects of the charity as set out in the Articles of As50ciarion are-. to promore. rnainrain. iinpmve. and advance education. particularly by fhe production o edu¢Jtional plays and the encouragement of rhe Arts. includin9 the arts drama. mime. dance, singing and music. ondto formulate. prepare and establish schemes thereforprovided rhar all objetts of the Company shall be ola charirable nature. The trustees have referred ro the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the charity's aims and objectives and in planning its future artivities. In particular. the trustees consider how planned activities will contribute to the aims and objectives that have been set. Structure Pioneer Theatre5 LJ"mited (trading as Theatre Royal Stratfofd Easrl is constituted as a company limited by guarantee and is governed by its Mèmorandum and Articles of Association as amended 18th November 2015. In the event of the charitablÈ company being wound up. the liability in respect of the guarantee is limited to £ l O per member of the charitable company. Il"oneer Theatres Limited has wholly owned subsidiaries. The results of Strarford East Trading Limited are consolidated into these financial statements. Strarford East Productions Limited 15 a dormant company. Ploneer Theatres Limited (fheatre Royal Stratford East) Trustees. annual report For the y ended 31 Marth 2025 OL5r alms Stratford Easi has six key aims.. Produce bold. excliin9 and outstanding theatre The quality of the work on ihe siages is wtal to the success of Stratford East. and we are committed io producing exiraordinary shows which are accessible and affordable for all Grow our audiences We have Slowly seen audiences returning to the theatre over the past 2 years. and we will continue ro place audience development at the hean of our work. appealing to our local community and a wider iheatre going audience from the resi of London and beyond. Develop creatlw talent We want to grow our talent development work. ensuring that tht industry remains diverse and that barriers to working in the indusiry are reduced. We will work with young people and artists in Easr London to provide development and sUPPOrt. We want to centre thi5 vrfork and to be a flagship for taleni development. Three further aims underpin our organisaiional value5 and will be iniegral to Ihe delivery of the first three aims. Embed Representatlon. Belonging. and Justice in our organisation We want our organisation to reflect the community in which we work. We want the programming on our stage to speak to the people who come to the theatre. We want everyone who works with u5 to feel empowered and supported. and we want our theatre to feel accessible to anyone. no matter their background. Reduce our envlronmenul impart Clifflate change is the biggest threat facing humanity. We want to ensure that we work in an environrnentally responsible way. frorn how we make productions. to h¢)w we work in the office. and ensure that all decisions consider the environmental impact and how to reduce it. Ensure are resilient for the future We will coniinue to review and refresh our strategic plans to ensure that our financial P051tion and business models are robust and resilient for the future. We need to make sure that the choices we make and the work that we do balances risk. with commercial viabilitv to protect the charity long term. Honeer Theatres Limfted (Theatre Royal Stratford East) Trustees, annual report For the y￿r ended 31 March 2025 ACtIMTY IN 2024-25 Public Benefft Over the course of the year Sirarford East has fulfilled its charitable objectives through contFnuing to engage wth the widesi possible audiences. 67.27S people Saw our work on stage I I productions with 217 performances 25 nights of music and comedy Engaged wth l 0, 104 young people Worked with 2179 adults in our community work Hosted 3 artist scratch nights Employed 209 freelancers Provided S free work5hop5 for our freelance network Gave away 600 hours of free space for artists to use Engaged I SOO freelancers in our freelance neThvork Recruited and trained 9 Communtty AMb￿SadOr5 who allocated XXX free ticke15 10 first time Gave away 2981 free pantomime iickets to secondary school students Celebrated our 140th Birthday with a year round programme of performances, talk5, tour5. open days and workshop5. Artlstlc Programrne 2024-25 included stveral visiting shows alongside Stratford East's own produced programme of bold and diverse work in a Season which markÈd the end of Nadia Fall's tenure as Artistic Director. Stratford East productions were all highly acclaimed. receiving 4 and S star reviews and 2 Oliwer Nominations. Aprll 2024 Cheeky Little BrM- by Paparango Prize winning playwright Nkenna Akunn< wth original songs. this corning-of-age story examines a friendship between rwo Black women. on diverging paths of self-love and acceptance. A tiata fahodzi production. Original tour co-produced by riata fahodzi. Bristol Old Vic & Belgrade Theatre. "Irresistibly funny"* * * * The Srage Pioneer Theatres Umlted rnbeatre Royal Stratfofd Eas Trustee5' annual report For the year erthd 31 March 2025 May 2024 Now I See: the second instalment in a trilogy written. choreographed and directed by Lanre Malaolu that excavaies and celebrate5 the trurh of being a Black man in contemporary Britain. Now I See was nominated for outstanding achievemeni in an affiliare thearre in the 2025 Olivier Awar(ls. Produced by Stratford East. 'remArkabl* for it5 emotionalpunch. gut-wrenchingperformances andformal invenTron'" * * * * The Guardian June 2024 Black is ihe Colour of My Voic*- Inspired by the life of Nina Simone and featuring many of her most iconic songs performed live, Apphia Campbell's acclairned play follow5 a successful stnger and civil rights activisi a5 she seeks redempiion after the untimely death of her father. She rèflecis on the Journey that took her from a young piano prodigy destined for a life in the service of the church. to a renowned jazz vocalist ai the forefront of ihe Civil Ri9hE5 Movement. 'Mowng portrayal of determination andsurwval.. **** The Times Nothing short of sensational... will niake you cheer forher. smile ￿th her and then stsng your eyes ￿th tears, ***** 8roadway Baby July 2024 rthmarked: an award-winnin9 9i9-musical. written and composed by Brook Tate. tells the story Tate's own story- of a young gay Jehovah's Witness. coming to terms with his sexuality and find￿ng his feet land high hee151 in a world he once believed would be desiroyed at Armageddon. With original music performed with his onstage band and directed by Olivier Award winning director Sally Cookson. Tate weave5 the crafts of songwriter. storyteller and drag artist into a perforrnance that is unlike any other. Originally commissioned by 8risiol Old Vic. **** jorftsl. life-amirming show-The Stage **** "Sincerity. genérosity& glorious cheek...bursting swth revelatJon-The Guardian We All Kn¢￿ Htyv This End5.. A big-hearted new play about life. death. and all that stuff in between. performed by Stratford East Young Company- a group of young artists who work together for just under a year with Dirertar Katie Greenall. In collaboration with the writer Molly TaWor, they developed a brand-new play for the Strarford East stage to share the story they want to tell. Ploneer The4tre5 Limited (theatre Royai Strarford East) Trustees, annual report For rhe year ended 31 Marth 2025 September l Ocfober 2024 Abigail's Partrf. Mike Leigh's tragicomic portrait of social class, materialism, and sexual tension in 1970s England. Directed by Nadia Fall. Abigail's Party was well received by audiences and critics and played 10 sold out houses over a six weèk run. °A brilliantly casr Tamzin Outhwaite plays hostess in this cleverly Thveaked take on Mike Leigh s immortal social satire"**** Timeout Whip-smart Andsurpri5ingly energetic" **** The Stage Wonderboy. Olivier Award-winner Sally Cookson directed the critically acclaimed Bristol Old Vic production of Wonder Boy by Ross Willis. a heart-warming and inspiring Story about the power of communicarion. An audaciou51yinventive. sparky yet sensirive. giddily enjoyable newplay that deserves to be packed to the rafter5' ***** The Guardian Audience roarin9 Wlth laughterand love fr¢)m the first minure, ***** WhatsOnSia9e let 81￿k returned io Stratford Easr in Ckrober 2024 with their new double bill", Heroes Ballet Black ha5 transformed the landscape of British ballef. creating a prominent platform for dancers and art15t5 of Black and Asian descent. as well as establishing a new canon of b￿let repertoire that resonaie5 wirh audtence5 arourtd the world. They arÈ an extremely popular element of our programme and shows are well attended. The Mountaintop- Katori Hall's Seminal play. a thrilling and often funny reimagining of Dr. King's final hours. confronting life, legacy and everything in between. Directed by Nathan Powell and presented by Cur¥e and MAST Mafflower Studios. by arrangement with Josef Weinberyer Lrd. December 2024 PinKchio.- our annual pantomime this year was a new version of the fairy tale classic which proved popular with both adults and children. Written by Strarford East pantomime regulars Trish Cooke Ibook and lyric51 and Rob Hyman (music and lyrics) and directed by Omar F Okai. oneer Theatres Llmited (Theatre Royai Stratford Eax) Trustees. annual report For the year ended 31 Marth 2025 -Upbear song and dance-ledpantomime wirh strong message andperfom?ances.- **** The Stage Excellentlyréalised andperfertlyperformed. Srrarford Easr's Rnocchio is a highlighr of the estive season thus far. and one that if would be a shame to miss. Gorgeou5 to look out, delighrful to listen to. and sending ev*ryone - no matter their age - home with plenty to rhink abour. and wirh importanr lessons learned. panromime5 rarely come be(rer rhan rhis glorious. utrerly hearrfelt offering. **** All That Dazzles January l F*bruary 2025 Animal Farni: George Orwell's classic. in a new adaptation by Tatty Hennesy. explores loss of identity. the seductive allure of 9reed. and the corrupting nature of political power. Directed by Amy Leach. presented by Strarford East and Leeds Ilayhouse. in association with Nottingham Playhouse. The produciion sold out over a 4 week run and was nominated for an Olivier Award as an outstanding achievement in an affiliate theatre. "muddy. sweatyproduction updates Onvell's classic ￿th asft)undin9 results- ***** The Guardian Everygenerarion deserves a defining pmduction of this school-sOlabus favounre... Surely this is ir. ***** The Stage -Ir's essenTral vie￿n9 in rhe currenrpolitscal climafe.- ***** Broadway World March 2025 The w￿en of Uanrumney. Set in 7 8th century colonial Jamaica, Azuka Oforka's searing yet witty new play powerfully explores the experience of women during slavery - rhose who benefite(I from it. those who were brutalised by it and those who fought to destroy it. THE WOMEN OF LLANRUMNEY puts Wales'5 role in slavery centre stage,. illuminaiing a hidden chapter of British hi510ry. Presented by SiratfoTd East and Sherman Theatre. Originally produced by Sherman Theatre. "Azuka Oforka's drama is a tremendous andpowerful debur. impeccablyacfedand produced and lully deserwn9 of its London transfer"**** The Telegraph In addition to OLJr main artisiic programme. we conrinued with our successful one night events of comedy. music, cabaret. and storytelling. With performances from a range of artists including Sophie Duker. Jeff Innocent. Nbna Conti. Ivo Graham. Kiell Smith Bynoe, Patter50n Joseph. the Comedy Store Players and the extraordinary Palesiinian comedian and Ploneer Theatres Umltèd (Theatre Royal Strarf¢yd Eas Trustees. annual report For the Iyar ended 31 Ma￿h 2025 actor Alaa Shehada. Music nights encompa55ed Gospel. Gershwin. FleeTh¥ood Mac. 70s disco. Sounds of the $05 and 605. Bollyrtood and Soul. We look forward in 25-26 to a full programme of productions. including a new musical. Lovestuck. a community pr¢)duciion of Romeo and Juliet. a revival of the hit musical The Harder They Come and our 2025 pantomime. Mama Goose. Lisa Spirling joined Strarford East. taking over from Nadia Fall as Artistic Director in January 2025 and Lisa will be announcing her first season of work in the Autumn. 140th celebra￿¢￿$ During the year. and as pan of our 140th celebrations. we ran a hugely successful Open Day in October - airended by over 300 people. Free workshops throughout the day included stage combat, sia9e design. lightiftg design. writing. and acting, comedy for kids. improvisation, and BSL interpreiation. There wa5 face painting and live music in ihe bar and heritage tours throughout the day. A second open day will take place in July 2025. Other 140th events thi5 year included 2 panel talks". Champlonin9 SI￿k and Asian Voices Ichaired by Chinonyerem Odimba. with Roy Williams. Tanika Gupi4 Oipo Baruwa Etti and Tamika Empsonl Politics and Theatre Ichaired by comedian Mark Thomas with Bonnie Greer, directors Suba Das and Amy Leach and academtc Torn Six}. One more event. another ￿Ik and a Variety Night wll be taking place in 2025126. Learnlng & Partklpatlon Learning and Participation is at the very hean of Stratford East and we offeretl a range of free cièative programmes for young people throughout the year. most of them specifically for Newham residents and all of it free to access. Key pillar5 of the 24125 Learning and Parttcipation programme were Giving a platform to emerging artists Prowding training pathways for Jobs and careers in thearre Opening up ihe ihearre and creating a welcoming civic hub for our Newham community. Youth Theatre and Junior Youth Theatre continued. and we have moved the criteria for both groups to Newham only. Boih are heavily oversubscribed with a total of 34 youn9 people aged between 12 -15 Uunior Youth Theatre) and 16 - 19 (Youth Theaire) taking pan in weekly sessions which run during the academic year and culminated in sharings for an invited audience. Ploneor Theatres Limlted (fheatre W Strarford East) Trustees. annual report For the ￿ar ended 31 Marth 2025 Our Young Company consists of 12 young people aged 19 - 25 {recruited in September 2023) who continued to in the first quarter of 24-35. working towards a production. We All Know Hobv This Ends was written by Molly Taylor. with input from the young people, supported by a professional director and creative team and played in the theatre to a paying public audience for 4 performances in July 2024. A new Young Compafty cohort was recruited in September 2024, with weekly sessions starting in the Autumn. This group will be workin9 towards a large-scale community production of Romeo andjulier. in collaboration with young dancers from Sadlers Wells East and our adult community company. Romeo andjulierwill be presented at Strarford East in August as part of our 140rh Season. Young Technldans is a free 7-week training programme Uan- March 251 for local young people 118 - 25-year-oldsl to learn antl develop prartical skills in technical theatre. This year we recruiied 9 Young Technician5 for the 4th iieration of the programme. and we increased the age eligibility to enable panicipants to move 5traighr to paid work once they have completed the course. Our Young Technicians received training from theatre professionals on all aspects of technical theatre." li9hting. sound and stage craft and had che opporrunity to take on paid work experience ai a trainee rate a5515ting our technical team on both Animal Farm and The Women of Llanrumnev. Our community programme ha5 grown from scratch to a rich year-round programme. aimed exclusively at Newham residents and groups. The programme runs activities ihat are designed to introduce and open up the world of iheatre ro people who may not otherwise have the opportunity to engage with theatre and the arts. Key programmes include.. An Adulf C4wnpany. an introductory attingltheatre-making programme for Newham residents over the age of 26. This programme has proved hugely popular and allract5 a vast range of participants from all walk5 of life. Regular Communitysocials h05ted by us in our fronr of house areas where we share food. engage in conversation and panicipate in rheatre-ba5ed activities. A brilliant low risk way to make our theatre feel welcorning and open to all. Free tsckets io in-house production5 - offered io Newham groups and resident5. A great firsi introduction to our iheatre for people who could nor normally afford to come along. Sometimes the free ticket includes food and a pre- or post-show talk. MéetAleAfteris a show and workshop-based programme. Where we invite Newham groups to see an in-house produciion and then enjoy 2-4 workshops afterwards at Pioneer Theatre5 Umlted (Th￿tre Royal Strarford East) Trustees. annual report For the ￿ar ended 31 March 2025 their venue. Led by an artist and designed in consultation with the group leader to meet their participants. needs. CommunltyAmbassadofS- a new NLHF funded programrne, for which 9 Newham residents have been recruited to act as volunteer arnbassadors for our theatre. The Ambassadors give out free iickets in Newham targeiing specific area5 and groups of people currèntly under-represented in our audience. They run backsta9e tours and help at community events. including open days. They are an exceptional group of people committed to and invested in our theatre and this programme has already made a significant difference - a￿ractIng more local audiences to Stratford East. 7he Reading Room- first one was held on March 25. The Reading Roorn 15 a regular session for a group of 8-1 O local adults to meet. read and discuss scripts. Our human and financial resources were stretched this year and as a result our schools programme has been reduced. However. we have been able io keep going with our key programmes and retain our strong relationships with Newham schools which are $0 vital io the long-rerm continuation of this work. Cultural Enrichment funding from Newham also enabled us ro offer free iickeis for h"nocchio to Newham secondary school siudent and lake up for this was strong with 2.981 young people attending the show thanks to this funding. We also provided additional Wfap around activity. CPD for teacher5. resource packs and a digital Q&A. Sadly. with a reduced team. we were unable to run a work experience programme for secondary schools this year. Technical Insight Days - from April 2024 we welcomed students frorn 2 Newham secondary schoo15 and a group from Icon Youth Theatre - a youih group attached to our partner Icon Theatre. Sessions took place in the theatre against the backdrop of our production of Now I See. Learnin9 in a professional thearre environment. students explored 119hting, sound and stage craft and sta9• management. This year workshops were extended from 1.5 hours to 2. 5 hour5, in response to feedback from teachers and siudents. We also reduced the size of the groups ro 15 to support a more focused lèarning experience for the students. We were also able to offer each group a ticket ro see a performance at Strarford East following their workshop. On The Spot was a free 6-week drama programme designed for Newham secondary schools to introduce students to the principles of devising and improvisation. which are key components of the GCSE drama curriculum. In September and October 2024. we worked with 29 students in a series of workshops which culminated in an informal sharing at the schools of a piece created by the siudents. All participating Students also received a free ticket to See Abigail'5 Party. Young Company Alumni had ihe opporrunity to assist the facilitators on Ihis course. to develop skills antl increase employability. Ploneer Theatre5 Umited (Theatre W Stratford East) Trustees, annuaf report For the ￿ar ended 31 March 2025 Artist Development and support Now in its third year. our Freelance Royalry Scheme continues to support freelance art15ts who live or work in East London and now has over 1.500 member5. It is free to join. Thi5 vear the scheme gave away 60 free tickets and 600 hours of free space use and hosted 3 scratch nights in our bar. These are free to aitend but Ihe performers get paid professional rates. Other events for our Royalty Member5 included pre-show talk5. surgeries and workshops lon Wellbeing. Developing Your Creative Practice and Demystifying Thearre Buildings) and an end of year party In 25-26 we will continue to develop and enhance this popular scheme wilh the involvement of our newly appointed A550ciaie Arii5tic Orrector. responding to the needs of ihe freelance arrbstic community to offer a unique 511PPOn programme. career development. platforms. and ne￿OrkIng opportunities. Tradlng Subsldlary The Bar performed well this year, ending the year with a surplus of £76k 12024.. £47kl. Thi5 is largely due to the extensive programme of music and comedy evenis, as well as increased audiences for productions in the second half of the year and regular events in the bar for the local communiry. We have continued with reduced opening hours - Tuesday to Saturday and will be revrewing the business model for the bar in 2 5-26. Represenrarion. Justtce amd Bel4)nging We want Strarford East to reflect the community in which we work and the programming on our stage to speak to the people who come to our thearre. We want everyone who works with us to feel empowered and supported and we want our theaire to feel accessible ro anyone . no matter what their background. Strarford East's programme of work has always championed a diversity of stories $0 that any audience member might see their story represenred on our stage. We are committed to our anri racism and anti ablism work as a continuous journey of change. progression and learning. This work is spearheaded by Closing The Gap. our staff led. anti racism workin9 group which leads on policy. training and accountability across the organization. For 7 years Sirarford Easr was part of the first Ramps on the Moon consortr"um. a group of theatres working to increase Dldeaf. disabled and neurodivergent representation in theatre. This con50rtium has now ended bui we are committed to continuing this work and we now cafry the momentum forward ihrough RADAR, oyr staff led disability and accessibility working group. which guides inclusive practice and ensures barrier free experiences for artists. staff and audiences. Pioneer Theatre5 Limited (fheatre Royal Stratford East) Trustees. annual report For the ￿aT ended 31 Marth 2025 Building There are number of areas of the building that do need capital investment. including our Heating and Ventilation system. as wèll our lighting and sound systems. We have carried out a full review and are now working on the first stage of a capital replacement programme. We have successfully raised some funds towards this work and will continue with our fundra¢sing to deliver a phased capital plan over 25-26 and into 26-27. Staffing 24-25 has been a year of change for Stratford East, wth both Artistic Director, Nadia Fall and Executive Director. Eleanor Lang leaving the organization during the course of the year. Interim arrangements were put in place from Ocrober 2024 while the recruiimenr for their replacements was undertaken and the experienced Senior Mafta9ement team remained stable during this transition. b'sa Spirliny was appointed as Srrarford Ea5t'5 new Artistic Director in Autumn 2024. joining rhe organization from Theatre 503 where she had been Artistic tArector since 2016. Lisa started in January 2025 and will be joined by Executive Director Hanna Streeter in July 2025. The Finance Director will be leaving the theatre in September 2025 and the recruitment process Nwll be compleied by August 2025. General staff turnover during the year remained low. Fundraising Ouring the year £452k 12024.. £248kl wa5 raised through Trusts and Foundation5. Corporates and individuals. an increase of £204k from the amount raised in the previous year. Income from individual and corporate donors increased from £183k in 2023124 to £256k an increase of £73k. During the year £122k 12024.. £199k) was Spent on fundraising costs. or 27%12024.. 80%) of the funds raised. The increase in fundraised income together with ihe reduction in departmental costs reflect a vast improvement on previous years results. The Trustee5 take their responsibilitie5 under the Charities IProrectTron and s￿la1 Investment) Act 2016 seriously and have considered the implications on their aciivities. There is a tledicated permanent fun(Iraising team at Stratford East, which in 2024-25 was led by a Finance and Fundraising Direcror who is support by a Development Committee. Ploneer Theatres Limited (Theatre Royal Stratford East) Trustets. annual report For the ￿ar ended 31 March 2025 which was formed in May 2019. ThÈ committee has a remit to advise and support on all fundraising activitie5. There are no commercial participator5 used. Stratford East closely follows the Code of Fundraising Practice and stays up to date with all compliance and regulation aroun(J fundraising. Stratford East is careful ro protect the data of our supporters and is fully GDPR compliant. Stratford East has not received any complaints about our fundraising activities. We do not approach members of the public to ask for charitable support. Looking ahead to 25-26. we continued our season of work with a brand new Musical. Lovestuck. followed by a large scale community producrion of Romeo and Juliet. a new bold production of the classic musical The Harder They Come and our Pantomime. Mama Goose. Romeo and Juliet is being co produced with Sadlers Wells East and features our Young Company. Sadlers Wells Young Dancers and our adult community company. Wilh wrap around activities including a choir and a visual art psece. this production We have begun planning for Lisa Spirling's first season. due to be announcÈd in September 2025, whith will run from January to August 2025. Our 140th programme continues into 2S-26. thanks ro a gentfOUS grant from the National Lottery Heritage Fund. and we will be delrverrrtg another Open day. a Variety Night, Monthlv heritage tours and one-off artistic events exploring Strarford Easi's rich history - including a scratch performance of a musical about rhe life of Joan Liitlewood. We have also installed an exhibition of past production photographs in our Front of House areas. showcasing the theatre's history. The loss of our London Borough of Newham grant from April 202S will ineviiably impact on the work we are able to do in our Learning and Participarion prograrnme but we are workjng hard to continue with our key programmes and maintain our relationships with schools in Newham. FINANCIAL REVIEW Review of tlnanoal performancé TRSE continues to be in receipt of annual fundin9 from Arts Council England of £l,125k. Pboneer Theatres Limited rnieatre Royal Stratford East) Trustees. annual rewt For the year ended 31 March 2025 erall, income for the year was 14.340k. a slight decrease of 3% from £4,496k in 202 3124. Income frorn productions decreased from £1.735k in 2023124 to £1.497k in 2024125 due to the fact thai there was no musical production in the current year. Income from the trading subsidiary a150 increased to £407k compared 10 £396k in 202312024. Theatre Tax Relief. at £478k was also a slight increase from £463k recorded in 202312024 reflecting increased activity on ihe stage as well as a stable enhance¢J TTR rate of 45% (50% tourin9 reliefj on all productions during the year. Total resources expended in the year were £4.487k (2023124". £4.647kl. 3.5% decrease is largely due to staff cost reductions made during the year with savings in Fundraising and Learning and Participation programmes. Theatrical costs are in line with 2024.. over￿1, group net deficit for ihe year to 31 March 2025 was £147k12023124 Deficit of £1 Sokl. Principal fvnding sources Strarford East was successful in its re-application to the Arts Council of England for National Portfolio Funding in 2022. The current agreement. initially running to March 2026 ha5 now been extended to March 2027. Strarford East received an annual grant from the London Borough of Newham of 1256.500 this year. In February 2023 the London Borough of Newham confirmed that this would be the final year of thi$ 9rant and it would not be awarded in 25-26. Reser4es The Trusrees believe the company should hold in reseThe a sufficient cushion of funds to enable it to continue to exist through a period of reduced income and. should st be necessary to. wind up in an orderly fashion. Ilease refer to Note 17a in the Financial Statements for more details. The trustees consider the desirable level of feserve5 for these purposes to be £400k, approximately equal to three months runnin9 and production costs. A5 at 31 March 2025 the groLJP restricteil reserves amounted to £35k 12023124.. Nill. The reserves balance relates io granrs made during the year for capital projects beyond March 2025. Ploneer Theatres Limited mieatre Royal Stratford Easr) Trustees, annual report For the ￿ar ended 31 March 2025 A5 at 31 March 2025 the group unrestricted reserves amounted to £1.915k12023124'. £2.098kl of which £1.329k are designated for the following purp05es'. The Building Fund of £291 k is allocated for the purpose of setting aside funds for essential Major building repairs. The Operational Fund of £400k represent5 the amouni required to cover liabilitie5 and operating costs in the e¥ent of an orderly ￿nd-uP of operations if that situation were to ar15e. The Fixed Assets fund represents the net value of Fixed A55ets 1638k at the end of March 2025. The current funds position shv•VS Testricted funds £35k12023124.' Nil). designated funds of £1.329k12023124'. £1.293kl and general unrestricted free reserve funds of £495k 12023124. £789k) Golng Concern The Trustees are confident of the charity's abilities to continue as a going concern due to the historical evidence of suppori from the Art5 Council England and other donors. and believe that this suppon is likely to continue for the foreseeable fuiure. For ihe purp05e5 of approving the annual report and financial statement5, Ihe foreseeable fuiure is deemed to be at least 12 months from the approval of this document. so into autumn 2026. The Finance Committee receives regular updaie5 on the financial performance and risk mana9ement. reporting to the full board. In order to a55ess the going concern assumption budgets aftd cashflows have been reviewed. as well as scenario plans based on the risks and uncertainties facing the theatre. These scenarios and associated mitigations have allowed managemeni and the board ro conclude on the ability of the theatre's ability in remain a going concern for the foreseeable futu￿. Prlnclpal Risk5 and UncertslnTies The major ri5k5 can be broken down into these categories. Box Offlce While audiences improved considerably from March 2024. box office still remains a St9niftcant risk - especially around new work. To mitigate this risk. programming choices reflect audience demand together with rigorou5 rnarketing campaigns & monitoring of stats. We are also mitigating risk by building co production partnerships with commercial l¥onÉèr Theatres Limlred mieatre W Strarford East) Trustees. annual report For the year ended 31 March 2025 producers and other iheatres who can share the capitalisation costs. There is also risk around box office income inflows are cancelled due io arri5ts sickness. This is considered low risk. and for shows with higher box offices understudies are cast. Fundraising.. We are enormou51y grateful to many of our donors who have sUPPOrted us over the past fèw yÈars and continue to do so. The climare for fundraising remains challen9ing and we will need to balance ambition WFth realism in our targets and approach. We have set realistic targets. which have been achieved in the year. However. with the loss of the Newham funding we will need to auraci some new funders 10 support our work. Since Spring 2024 we have had a reduced fundraising team with the Finance Director overseeing a team of 2. In 25-26, with a new leadership team in place. we are looking to recruii a specialised and experienced Developmeni Director l Head of Development to work with the Executive team to maximise our fundraising poienrial. Economic Climare.. The economic climate remains a difficult one. while inflation has reduced. there is siill above inflation cost increa5e5 and audiences are still feeling the impact of the cost of living crisis. Statutory funding remain5 at a siandstill, which is in real terms a reduction. Budget5 have been adjusted with inflation taken into accouni on all cost centres. The Board and senior team continue to consider other income streams and business models to ensure the theatre's economic viability. We will be introducing a ticket lewy to raise funds for our capital work and some core costs. We are mindful of keeping ticket price5 affordable for our audiences in the current economic climate. Building Fabric and equipment.. Much of our plant and equipment is now more than 20 years old and reaching the end of its working life. Substantial investment will be needed in the future to sustain it. Ongoing maintenance happens throughout the year and monitoring of building management 5yStems, fundraising planned around these needs. The intention is to raise £1.8m over the next year to undertake essential roof work as well as plant and equipment replacement programme. Staff Changes.. With two major changes at ihe top of the executive team an¢J thè search for a new Chair. there is a risk of loss of insiitutional knowledge and the impact of the transition lime. The charity has a stron9 senior leadèrship team with shared vision and commiiment. Proactive appraisal and increased offer of professional development tO9ethef wth regular benchmarking of salaries. Ploneer Theatres Lirnited (fheatre Royal Strarford E*st) Trustees. annual report For the ￿ar ended 31 March 2025 GOVERNANCE AND MANAGEMENr Appointment of trustee5 Our long serving Chair. Baroness Hodge. stood down at the end of this year, and recruitment began for her successor in April 2025. Trusiees Christopher Hird and Francesca Moody are acting a5 Inrerim Co Chairs during the search for a new chair. New trusiees are elected to the Board by existing members. Annually, a third of the Board must retire and trustees may be eligible for re-election up to a maximum of nine years, service. The Board regularly reviews the skills mix of ihe trustees and con5ider5 whether it adequately represents the community which it serves. Various methods are then adopted to identify and recruit potential trustees. if required. Trustee inductton and trainin9 All new trusiees receive the support of staff and exisiing members of the Board during an Induction period. as well as receiving key organisational d¢xumentS. Organisation and key management The Board is responsible for the strategic management of the charitable company and the setting of policy. It has ultimate responsibility and control of the charitable company which it exercises through quarterly meetings of the Board and a Finance Commitiee. The key management is considered to be ihe Artistic Director and Executive Director who are Co- CEOS. The Board seis rhe pay and remuneraiion of ihe Co-CE05 , informed by a benchmarkin9 exercise of industry peers. The Co CEOS set the pay and remuneration for the rest of the staff team. in line with the organisation's remuneration policy and the annual budget which is approved by the Board Charfty G0￿ManCe Code The Board has adopted the Charity Governance Code for lar9er charities (the 'Code'l. The Code encourage5 charities to publish a shon narrative in Iheir annual report explaining their Use of the Code. 20 oneer Theatres Llmited (fheatre W Stratford East) Trustees. annual report For the year ended 31 March 2025 Related partles The charitable company has a wholly owned Subsidiary. Strarfofd East ffradingl Limited. which provides the bar and caiering facilities at Strarford East. It has a dormant subsidiary Stratford East Productions Limited. which is to be used in the case of commercial productions. It also has a relared charity, Theatre Workshop Trust. which owns the freehold of the Theatre. Auditar sayer Vincent LLP wa5 re-appointed as the charitable company's auditor during the year and has expressed its willingness to continue in that capacity. srATEMENT OF TRUSTEES. RESPONSIBiunES The trustees (who are also director5 of Pioneer Theatres for the purposes of company law) are re5pon5ible for preparing the trustees. annual report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the stale of affair5 of the charitable company and group and of rhe incoming resources and application of resources. including the income and expènditure. of the charitable company or group for thai period. In preparin9 these financial Statements. the trustee5 are required to.. Select suiiable accouniing policies and then apply them consistentlv Observe the methods and principles in ihe Charities SORP Make judgements and estimaie5 that are reasonable and prudent State whether applicable UK Accounting Standards and statements of recommended practice have been followed. subject to any material departures disclosed and explained in the financial statements Prepare the financial statements on the going concern basis unless it is inappropriate to presume that the chariry will coniinue in operation The trustees are responsible for keeping adequate accountin9 records that disclose with reasonable accuracy at any time the financial position of the charirable company and enable them to ensure that the financial 5tarernents comply with the Coms>anies Art 2006. They are also re5pon5ible for safeguardbn9 the assèts ol the charitable company and group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. 21 Ploneer Theatres Llmited (Theatre Rordl Stratlord East) Trustee5' annual report For the year end*d 31 March 2025 In so far as ihe trustees are aware". There 15 no relevant audit information of which the charitable company'5 auditor is unaware The trustees have taken all steps that they ought to have taken to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information The trustees are responsible for the maintenance and integriry of the corporate and financial information included on the charitable companrfs websiie. Legislation in the United Kingdom governing the preparation and di55emination of financial statèments may differ from legislation in other jurisdictions. Members of the charity guarantee to contribure an amount not exceeding £ l O to the assets of the charity in the event of winding up. The total number of such guarantees at year end date was 13 12024.. 121. The trustees are members of the charity but this entitles them onlv io voting rights. The trustees have no beneficial interest in the charity. The trusiees. annual report which include5 the strategic report has been approved by the trustees on 17 September 2025 and signed on their behalf by Christopher Hird and Francesca Moody Interim Co Chairs 22 Independent auditorf5 report To the rnembers of oneer Theatres Llmfted (fheatre Royal Strarford East) Opinlon We havè audited the financial 5tatement5 of Pioneer Theatres Limited Ithe 'pareni charitable company'l and ils subsidiarie5 (the 'group') for the year ended 31 March 202 5 which comprise the consolidated and parenr charitable company statement of financial activities. the 9roup and parent charitable company balance sheets, the consolidated statement of cash flow5 and the note5 to the financial 5taiements. including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including FRS 102 7he Financial Repomng StandJrdJpplicable in the UK andRepublic of Ireland(United Kingdom Generally Accepted Accountin9 Practice). In our opinion. the financial statements.. Grve a true and fair wew of the state of the group's and of the parent chariiable company's affairs as at 31 March 2025 and of rhe group's and parent charitable company's Incorning resources and application of resources. including bts income and expenditure. for the year then ended Have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice Have been prepared in accordance with the requirements of the Companies Act 2006 and ihe Charities Act 2011 Basis for opini¢)n We conducted our audii in accordance with International Standards on Auditing (UK) {ISAs IUKII and applicable law. Our responsibilities under rhose Standards are further described in the Auditor's responsibilities for the audit of the group financial statements seciion of our report. We are independent of the 9roup and parent charitable company in accordance with the ethical requiremenis that are relevant to our audit of the financial statements in the UK. including the FRC'S Ethical Standard. and we have fulfilled our other ethical responsibilities in accordance with ihese requirements. We believe that the audit evidence we have obtained 15 Sufficient and approprjate to provide a ba515 for our opinion. Condusions relating to going concern In auditing the financial statements. we have concluded that the trustees, use of the going concern basi5 of accounting in the preparation of the flnancial statements is appropriate. Based on ihe work we have performed. we have not identified any material uncertainties relating to events or conditions that. individu&ly or collectively. may cast significant doubt on Pioneer Theatres kn"mited's ability to continue a5 a going concern for a period of at Itast twelve months from when rhe financial statements are authorised for issue. 23 Independent audltorfs reporr To the members of oneer Theatres Limited (Theatre W Stratford East) Our responsibilities and the responsibilities of the trustees w¢th respeci to going concern are described in the relevant sections of this report. Other Informatlon The other informarion comprises the information included in the trustees, annual report other than tht group financial statemenrs and our auditor'5 report thÈrèon. Thè trustees are responsible for the other information contained within the annual report. Our opinion on the group financial statements does not cover the other information. and. except io the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing 50, consider whether the other information is materially inconsistent with Ihe group financial statements or our knowledge obtained in the course of the audit or othe￿1$e appeals to be materially misstated. If we identify such material inconsisiencies or apparent material misstatements. we are required to determine whether this gives rise to a material misstatement in the group financial staternents themselvès. If. based on the work we have performed. we conclude that there is a material misstatement of this other information. we are required to report that fact. We have nothing ro report in this regard. Opinions on other matters prescribed by the Companies kt 2006 In our opinion, based on the work undertaken in the course of the audit.- The information given in ihe tru5tees' annual report. for the finaftcial year for which the financial Statements are prepared is consistent with the financial statements The trustees. annual report. been prepared in accordance with applicable legal requirements Matters on Wthlch ￿ are required to report by exception In Ihe light of Ihe knowledge and understanding of the group and the parent charitable company and their enwronment obtained in ihe COLJrse of the audit. we have not identified material rnisstatements bn the trLbStees' annual reporL We have nothing to report in respect of the following matters in relation io which the Companies Act 2006 and Charities Act 2011 requires us to report to you if. in our opinion.. Adequate accounting records have not been kept by the parent charitable company. oi returns adequate for our audit have not been received from branches not visited by us., or The parent charitable company financial statements are not in agreement with the accounting records and returns., or 24 Independent auditorfs report To the members of Ploneer Theatrés timited (fheatre Royal Stratford Ea5tl Certain disclosures of trustÈes' remuneraiion specified by law are not rnade: or We have not received all the information and explanations we require for our audit., or The rrustees were not eniitled to prepare the financial statemenis in accordance with the small companies regime and lake advantage of the small companie5. exemptions in preparing the tru5teès' annual report and from the requirement to prepare a Strategic report. Respon51bll￿1es of trustee5 As explained more fully in the statement of trustees. responsibilities set out in the trustees, annual report. the trustees (who are also the directors of the parent charitable company for the purposes of company law) are re5pon5ible for the preparation of the financial statemenrs and for being satisfied that ihey give a true and fair view. and for such internal control as ihe trustees determine is necessary io enable the preparaiion of financial statements thai are free from maierial mtsstatement, whether due to fraud or error. In preparing the financial sktements. the trustees are responsible for assessing ihe group's and the parent charitable company's ability to continue as a going concern. disclosing. as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquitlate ihe group or the parent charitable company or ro cease operations. or have no realistic alternaiive but to do so. Auditor's responsibilitie5 for the audlt of the financial statements We have been appointed auditor under the Companies Act 2006 and section 151 of the Charites Act 2011 and report in accordance with those A(t5. Our objectives are to obtain reasonable assurance about whether the financial statement5 a5 a whole are free from maierial misstatement, wheiher due to fraud OT error. and to 155ue an auditor's report that includes our OPFnion. Reasonable assurance is a high level of assurance. but is not a guarantee that an audit conducted in accordance with ISAS (LIK} will always detect a material mi5statement when it exists. Misstatements can arise from fraud or error and are considered material if. individually or in the aggre9ate. they could reasonably be expected ro influence the economic decisions of users taken on ihe basis of these financial statements. Irre9ularities. including fraud. are instances of non-compliance with laws and regulations. We design procedure5 in line with our re5pon5ibilities. outlined above. to detect material misstatement5 in respect of irregularitie5. including fraud. The extent to which our procedufes are capable of detecting irregularities. including fraud are sei out below. 25 Indep￿dent auditorfs report To the members of Fyoneer Theatre5 Lirnited mieatre Royal Strath>rd East) Capability of the audit in detertin9 irregularitie5 In identifying and assessing risks of material mis5tarement in respeci of irre9ulariiie5, including fraud and non-compliance with laws and regulations. our procedures included the following". WÈ enquired of management. which included obtaining and reviewing Supporting documentation. concerning the group's policies and procedures relatiri9 to.. Identifying, evaluating. and complying with laws and regulations and whether they were aware of any instances of non-compliance". Detecting and responding io the risks of fraud and whether they have knowledge of any actual. 5U5pected. or alleged fraud". The internal controls eS￿blished to mitigaie risks related to fraud or non- compliance with laws and regulaiions. Wè insperted the minutes of meetings of those charged with governance. We obtained an understanding of the legal and regulatory framework that the group operates in, focusing on those law5 and regulairons that had a material effect on the financial statements or that had a fundamental effect on the operations of the group from our professional and sector experience. We communicated applicable laws and regulations throu9hout the audit team and remained alert to any indications of non-compliance throughout the audit. We reviewed any reports made to regulators. We reviewed the financial statement disclosures and tèsted these to supporting d(Kumentation to assess compliance with applicable laws and regularions. We performed analytical procedures to idenrify any unusual or unexpected relationships thai may indicate risks of material misstatement due to fraud. In addressing the risk of fraud through management override of controls. we cesred the appropriateness of journal enirie5 and other adjustment5, assessed whether the judgements made in making accounting estimates are indicative of a potential bias and tested significant transactions that are unusual or those outside the normal Course of business. Because of the inherent limitations of an audit. there is a risk Ihat we will not delect all irregularities. including those leading to a maierial mi55tarement in the financial starements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation 15 removed from the events and transactions reflected in the financial statements. as we will be le55 likely to become aware of instances of non-compliance_ The risk is also greater regarding irregularities occurring due to fraud rather than error. as fraud involves inrentional concealment. forgery. collusion. omission or misrepresentation. A fur(her description of our responsibilities is available on the Financial Reportin9 Council's web51te at.. This description forms part of our auditor's repori. 26 Independent auditorfs rewt To the members of Pioneer Theatre5 Limited (fheatre Royal Styatford East) Use of our repryt This report is made solely to the charitable companrfs members as a body. in accordance with Chapter 3 of Pan 16 of the Companies Act 2006 and Section 144 of the Chariiies Act 2011 and regulations made under section 154 of ihat Act. Our audit work has been undertaken 50 that we fllight State to the charitable company's members those matters we are required io state to them in an auditor's report and for no other purpose. To the fullest extent permitted by law. we do not accept or assume responsibility to anyone other than the charitable company and the charitable companws members as a body. for our audit work. for this reporr. or for the opinions we have formed. Judith Miller (Senior siatutory audiior) 27 October 2025 for and on behalf of Sayer Vincent LLP. Statutory Auditor I l O Golden Lane, LONDON. ECI Y OTC Sayer Vincent LLP is eligible to act as auditor in terms of seaion 1212 of the Companie5 Act 2006 27 oneer Thtatres Urniied Tradlny as stratrord E￿￿ consolidat￿ statement ol ¥d%4ties IirKorpv•Lry an In¢¢me For the 14r tndod 31 202S 2025 2024 L4irestricied Fur45 To Funds Lknrestricred Fund5 Restiiaed Fynd$ Total Fund5 Funds Notes Oonations and legaaes Charitable ￿ty111e$ Thèatre Edu¢atioffl and Y•Mk%htsps Qiher tradin9 attmti 1.640.178 230.667 l.a70.845 1.687.933 67.155 1.7SS.088 2.￿7.523 2.061.523 Z.345.6S8 2.345.658 407.263 407,263 395.550 395.550 4.108.964 230.667 4.339,631 4.4Z9.141 67.155 4.496.296 Expthdlture on.. Raisifig funds Cbariiabl* attNit*s TheatfE Educatlon and wor*sho95 122.159 122.IS9 19B.840 198.840 3.930.7eJ) 238.122 195.667 4.126,447 238.122 3,993,578 4,123.733 324.110 To1￿ expendlNf• 4.291.061 195.667 4,416.n8 4.516.S28 110.155 4.646,683 Ner ifflcomt I lexpendlturt) fw the 1182.097) (147.09 187.38n 161.1)001 1150.38 Transfv$ tse￿ee￿ fvnd5 N¢L rnovemenr kn fvnd5 1182.09 3S.O (147.09n 187.387) (63.0001 11 SO.38n Reconullatlah ￿lunds.. Total fuThds b¢ou9hr fowid 2.097.737 2.097.737 63.000 1.248.124 foral funds caffled forwud 1.91 S.640 35.tY)O 1,9SO.640 2.097.737 2.097,737 14Dlo 16 to1￿ financlal sLNttrntnts. 28 Pitsnttr Theatres Llmiied Tradlng as Yheaife Royal Srraiford Eas Balance 5fve￿$ Company no. 00556251 As at 31 March 2025 Group 2025 Charity 2025 2024 2024 Notes Fixed a55et5- Tangible assets Invesimenrs io 644.732 533.580 638.020 523.323 644.732 533.580 638.022 523.325 CuNent assets.. Stock of g¢)ods for resale Debtors Cash at bank and in hand 17.475 1,424,562 756.926 15,493 777.519 1.345.466 1.435.458 627.533 836,722 1.243.718 2.198.963 2.138.478 2.062.991 2.080.440 Llabllities.. Credirors.. amount5 falling due within one year (893.OS51 1574.3221 1841.6061 1520.9701 Net current assets 1.305.908 1.564.156 1,221.385 1,559.470 T￿al assets less ￿rrent liabilitie5 1.950.640 2.097.736 1.859.407 2,082.795 Net assets 1.950.640 2.097.736 1,859.407 2,082,795 Funds.. Restricted fund5 Ufirestricied funds.. Desi9nared funds Charitable fund5 Non chariiable trading 5urplu5lldeficitl 35.01]0 35.000 1.329.020 495.387 91.233 1,293.323 789.472 14.941 1.329.020 495.387 1.293,323 789.472 Total unrestfiaed fund5 1.91 5.640 2.097.736 1.824.407 2.082,795 Total funds 1.950.640 2.097.736 1.859,407 2.082,795 Approved by the trustees on 17 September 2025 and signed on rheir behalf by Christopher Hird Chair 29 PSoneer Theatres Limited Tradlng as Yheatre Rwdl 5tratford Easf Consolldated statemeni of cash flty•s ear ended 31 March 2025 Note 2025 2024 Cash tlows from operating aciivities Ner Income foi the reporting period las per rhe Statement of financial acrivitiesl Depreciation char9es Ilncreaselldecrea5e In 5rocks Ilncreaselldecrea5e in debtors Increaselldecrea5el in creditors {147.097J 1150.387) 69.994 11.9821 1647.0431 318.734 57.885 (4.2821 1216.7441 1122.4381 Net cash u5td in operaiing all1￿11*5 1407,394) 143S,9661 Cash flry*5 fr(Kn investlng aalvltles.. Purchase ol fixed asset5 Loans 1181,146) 147,5761 137,SOI I Net cash used iwt investing aCllTAties 185.077) Change in cash and cash equiftlent5 in the year 1588.5401 IS21,0431 Cash and cash equivalents at the beginning of the year .345.466 1.866.509 Cash and o5h equivalents at the end of the year 756.926 1,345,466 Analysis of r45h and cash equlvalents and of net debt Orher non- Cash flows cash changes At 31 March 2025 At l Awl 2024 Cash at bank and In hand 1.345.466 1588.5401 756,926 a Total cash and cash equivalents 1.345.466 1588,5401 756.926 Totsl 1.345,466 1588.5401 7S6,926 30 pioneer Th•iires Llmttqd Tr*dlng 4$ Tratyt Rty41 Eas Notès to the ftTrand￿ swofflonts r ihd¢d 31 M•rth 202 l Acco￿n￿￿9 polklej The prlntlpal a¢£Q￿ntiNg poiiaes adopt￿. Judgtmonts and kty StyJrces olestsmation unceFWnty in the Pre￿rat￿)n of the flnanc&l siaiefflen￿ are as foll¢rt¥S-. a) Ba51s of prw¥iifjoTr The finAnCial statemthts ha¥e been kvtyared In accordance *ith Accwnrury Jnd Reporting by chari1￿$." Stat¢M*fit ￿RecoMMer$d¢￿ Practlce appliuble 10 thanTIt5 preganrtg thtir Ittbunts In aCCOtdantt ¥nth the Finafjcial Reportin9 applicthle ITh tht ahd Attyblic of Ire￿nd (FR5 1021- Ichanlies 9)RP FRS 1021. The Firnaht￿l A*p￿tIng Standard ap￿1(&￿e In the UK 4nd Reputyli¢ of IrElahd IFRS 1021 and the Companie5 Acr 2QD6. b) *j￿Ie brthtfit th¢ty The charity metis iht definiti¢￿ ol a pub¥c btThefir erbtity under FP$ 102. c) Srawt•ry Ihf•rm4￿ onÈtr Theatrts knmittd Trading as Thoatre R+sW 51r4rford Easf is a tharitsblt ¢ampany Iiiblii*d ￿9uarante0 and Is Incorptyaied In Tht rogisf*r*d addt*ss and ￿nCiPal ￿￿ce of busir*55 Is Theaue Wal sirarforil Ea51. Cerry Raffle5 Squlie. Siraiford. London. El 5 IBN. Assets and 11a￿￿tIeS are Iniridty recogni5ed ai ￿5￿1(￿1 co51 ry tran5wion v•1* unless •th*r￿S* Ststhd Ih tht rele¥*it acoxtntSDg poll¢y or In tht linancial repvtiDg fvamv¢wth. the truste¢5 have rnadr a Trumbtr of SubJtCtib* judgtrnents. for exafflle in rt5pea of S￿nIfi￿nI a Incorne fvorn yoyrnment and vthrr yranTS. *thrthtr'caw1￿. grants Or'revtrtt. gr￿r5. is ¥ttO9niStd lh¢ thartry has tntltltmenr to rhe fuDd5. any PÈrforrThance trustees had travel and 5ubsi5rence expen5e5 reirnbursed in ihe yEar 12024 ENill. The key managernent of the Charity comprise of ihe Truste￿. Ihe Exe(vtiVE DiTe(tor and the Arlistic Director The toial employee benefirs (includiry pensh?n ￿nirl1￿j11Q￿5 and ewnploytrfs natK)tial insurafitt) OF the key matla9emen¢ personnel were 1140,91312024. £141.5351. Staff numbers The average weekty rIum￿r of employees (head couni baxd on number of stsff employedl during ihe year %¥a$ 88 IZOZ4'. 991. 2025 2024 Fundraislry Produaions Press and Publicity Education Support and Admini5rration Trading Acriviiies 57 65 88 99 Employee lime has beeth all¢xaied eiiher.. il To direci cost5 on a percenia9e of iht riwdE SPÈnt by aD tMpk)yee on an arti￿ty ill TO 5UPPOrt costs allocated on a percenTage basls o%*r all the costs 38 oneer Theaire$ Limited Trading as Iheatre Royal *rarfthl Easf Notes to ihe financlal siat¢m¢ms For the ear ttyded 31 March 20 Taxaiion The charity is exempr from cotporation tsx as all rts inn-caKellable operating leases is as follws for each of Ihe foll￿1n9 periods.. Equipment 2025 2024 Less than one year One to twe years 3.316 2.417 531 5,803 531 19 Capbtal commirmenis At ihe balance sheei dale. Ihe gr(wp had comrnitrr*nts Q024.. £mil I rrb respeci of development V40rks. 20 FU￿re Commltments The charltable company eniered inw a 15 yeaf kase WiTh rhe Theatre Workshop Tr¥st in September 2020.. this is Current￿ rent free. 21 Legal charyts There are no existln9 legal charges. 22 Related party tTansaction5 Joshua Garfield (rru5teel 15 a asuncillor for L8 NEwham prO￿e TR5E wilh fLJfrtling durin9 ihe year. The following trustees of ihe charity are also di￿00r5 of the 5ubsidiiry, StraifoTd Ea51 Trading LimiTed." joshua Garfield. Chilstopher Hird and Martin ￿lgrIM There are rothher related party iransa