YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Consolidated Accounls for the Year Ended 31 March 2025 Reglstered Company No. 814453 Registered Charity No. 238436 P8ge I YVONNE ARNAUD THEATRE MANAGEMENT LIMITED GROUP Consolidated Accounts for the Year Ended 31 March 2025 Contents Page C4)ntent5 Reference and adrnlnlstrailve details 3-16 Dlrectors, report 17-20 Auditors. report 21 Consolidated Ststement of financial activitles 22 Balance sheet 23 Statement of cash flows 2H2 Notes to the accounts Page 2 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED ReElstered No. 814453 Reference and administrative details Charlty name: Charity number: Company number: Reglstered office: Yvonne Arnaud Theatre Management Ltd 238436 814453 Yvonne ATnaud Theatre, Millbrook, Gulldford, Surrey GUI 3UX Key management personnel Yvonne Amaud Theatre Management: Director5 The dlrertor5 and offlcers ser4lng durfng the year and since the year end were as follows: Mr Stephen Bampfylde Mr Roier Black MBE Mr5 Emma Brunjes Mr Andrew French Mr Charles Geffen Mr Peter Gordon Slr Stephen Lamport Mr Steven Lee Mrs Wi¥ienne Mather Mr Mkhael More-molyneux Chairman Ireslgned 23 May 2024) {appolnted 6 August 2024) GBC Representative {resigned 6 August 2024) Key management personnel of Yvonne Amaud Theatre Management.. Senior 5tsff Dlrector and Chief Executlve Director of Finance Dlrector of Marketlng and Customer Experlence Dlrector of Development Mrs Joanna Read Mrs Sarah Gatward Mrs Sally-Anne Lowe Mr David Beal Our advisors Bankers: Barclay5 Bank plc Woklng Corporate Management Sulte PO Box 673 Town Gate House Church Street East Woking GU216AE Auditor5: TCGroup The Courtyard, Shoreham Road, Upper Beeding Steyning West Sussex BN44 3TN Solicltors: Stevens & Bolton LLP Wey House FaTnham Road Guildford Surrey GUI 4Y Page 3 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Report of the Dlrertors for the year ending 31 March 2025 The directors present their annu81 report together with the Consolidated financial statements for the year ended 31 March 2025 which are also prepared to meet the requirements for a directors, report and accounts for Companies Att purposes. The financial ststements comply with the Charilies Art 2011, the Companies Act 2006. the Memorandum and Articles of Association and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective l January 20151. Theatre Chalrman's Report This ha5 been an exciting and dynamic year for the theatre as we continue our ambitious plans to create and present incluswe and inspiring theatre for the people of Guildford and Surrey. In early June. the Theatre Trust embarked on a significant refurbishment project aimed at enhancing the front of house areas of the theatre. This long-awaited initiative. made p055ible thank5 to a substantial grant from Surrey County Council's Your Fund Surrey. has spanned the course of this year and is due to conclude in July 2025. During this time, to ensure that we maintain audience engagement and a vibrant schedule throughout the year, the Management company have continued our operational attivities in the buildin& working alongside the contractors. While the long-term benefrts of this refurbishment for the Management company are undeniable, it has not been without its challenges. Throughout the year, the theatre experienced planned operational di5ruption5, includin8 a complete closure for 13 weeks, with a concentrated nine-week period during the summer dedicated to critical phases of the refurbishment. In the face of these challenges, the theatre team demonstrated commendable creativity and resilience. To mitigate the impact of the construction workon our audience experience, we relocated the Riverbank Café to the Mill Studio for the summer months. Additionally, we utilised our main stage to host our regular creative learning workshops during the school holidays, ensuring that our engagement activities were not impeded. We were pleased to reopen in late September with a full programme of work on the main stage, despite a scaffolded front of house and temporary toilet facillties. Despite the dark periods and disruptions, l am pleased to report that attendance for the year improved again in 2024-25 with an average attendance of 62% of capacity being achieved across the year. Altogether 113,446 people from Guildford. Surrey and the wider southeast region attended one of the 350 performances at the theatre during the year. A further 7,837 people took part in a communlty workshop, event or activity durin8 the year and 3,098 took park in our Creative Learning Programme, making our total number of engagements. 124,381. These figures are naturally lower than the previous year due to the 13 dark weeks when no performances We￿ scheduled. However, we anticipate that the refurbishment and increased access to the building will support our audience development plans. l am pleased to report our autumn programme was both Stimulating and diverse, capturing the imaglnatlon of our audiences and providing invaluable educational opportunities for local schools. We began the season with Bath Theatre Royal's gripping production of 1984. which set a strong tone for the months to come. Following that. we delighted audiences with Sebastian Faulk< evocative Birdsong and the unique musical experience of Pride ond Prejudice- Sort Of. These productions not only entertained but provoked thought and discussion amongst our audience. "It is such o pleusure to leove the virtual world for a few hours and see real high quality live performance."_ audience member on 1984 and Birdsong Page 4 YVONNE ARNAUD TMEATRE MANAGEMENT UMITEO Registered No. 814453 Report of the Dlrertors for the year ending 31 March 2025 In the spring, we were pleased to offer secondary schools the opportunity to witness classic set texts such as Droculo and Animul Farm, effectively enriching their studies and helping to foster a love for literature and theatre. Additionally. we presented The Shork is Broken, a captivating modern drama from the West End, alongside Michael Maloney in the classic thriller Murder on the Orient Express. These performances continued our commitment to providing quality, inspiring and diverse stories for the broadest range of audiences. "I've read the book (Jnd seen the film, but the stoge play blew me oway... I dt)ft't think I blinked once, I didn't wont to miss a second. Absolutely riveting"_ audience member on The Kite Runner Once again this year, we were delighted to host a number of Stars of the stage generously giving their time to support the Trusvs Play Your Part Campaign. Charles Dance, Brian Cox and Craig Revel Hoywood all gave an evenin& regaling audiences with conversation, anecdotes from their careers and smatterings of performances. Their contributions not only entertained but also offered unique insights into the world of theatre, makin8 for an enriching experience for all attendee5. These events exemplify the spirit of our Play Your Part Campaign, highlighting the importance of community engagement and the vital role that the art5 play in our lives whilst raising money for the critical restoration of the theatre's estate. We are immensely grateful to Charles. Brian, and Crdig for their generosity and enthusiasm in sharing their stories. Their presence not only elevated our programming but also encouraged more individuals to appreciate the wonderful opportunities the theatre offers. As we move forward, we are eager to continue this tradition of bringing esteemed talent to engage with our audiences, fostering a deeper connection between artists and the community. This was the final year of our three-year grant funding agreement with Guildford Borough Council. The grant reduced again in 2024-25 to £200k from £236.5k. We were pleased with the council's decision to award a further one-year grant for 2025-26 whilst a full review of 8rant funding is undertaken by the uthority in 2025-26. The Council's financial position is clearly a cause for concern- however, the grant support the theatre receives from Guildford remains critical to the theatre's long-term operational success. Funding from GBC enables the theatre to deliver a diverse range of programming and community outreach initiatives that enrich the cultural landscape of Guildford, support the health and well-being of residents and the economic and social health of the borough. With their support, we are able to present high-quality productions, offer educational workshops, and engage with local schools and community groups. This funding is essential not only for maintaining our facilities and operational costs but also far continuing to foster artistic development and accessibility within the region. It also helps subsidise ticket prices, ensuring our performances remain affordable and èccessible to all, including underrepresented communitie5. As we navigate the changing financial landscape, we remain committed to our mission of providing a vibrant arts experience that resonates with our community. We look forward to collaborating with Guildford Borough Council and other stakeholders to ensure the theatre's sustainability and 5ucce5S in the coming years. We continued to grow our creative learning and community engagement programme this year, widening ourofferto include activitiesfor adults alongside ourwork with young people and families. The Showgoers is a new project designed to support people's mental health and well-being, enabling adult$118+1 living in Guildford, Waverley and beyond, to watch live theatre at the Yvonne Arnaud and share their experience with others. The theatre works with Surrey based charities Catalyst and Oakleaf who directly support people who are experiencing loneliness, social isolation and poor mental health. Page 5 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Report of the Directors for the year ending 31 March 2025 Dementia friend￿ performances were also a new addition for this year and were offered for both Robin Hood and as part of our film programme. Staff and volunteers were provided with training in working with and supporting audience members with dementia. This year, the theatre produced two original Yvonne Arnaud productions: Porty Gamesl by Michael Mcmanus and our traditional pantomime. Robin Hood. Producing original work is at the heart of what the Arnaud does. Creating our own productions enables us to offer something unique to the Guildford audience and provides a creative resource to support all our activities. With all creative artists and rehearsalson site, we are able to integrate the production and creatwe processes into our creative learning programmes. For example. the Discover Drama Project, working with the Light House unit in Grove Pork Primary School, has been built around the pantomime rehearsal process. Additionally. Robin Hood provided access to technical work experience and production week opportunitie5 for a range forsecondary school students and young people not in education Dr training. The Directors Circle for both show5 engaged a dedicated group of philanthropists, bringing them closer to the production process whilst supporting the production costs. Our productions also create employment opportunities for both the local and national industry, offering first jobs to local drama school students from the Guildford School of Acting, Perfonnance Preparation Academy, and Laine Theatre Arts. We were plea￿d to see the return of our regular Arnaud trio Peter Gordon as the Dame, Lucy Benjamin as the villain and Matt Pinches as the comic in Robin Hood. A￿lenCe feedback and reviews were excellent. "This wos the bestpuntomime we'veeverseenl It was absolute joyform stort tofinish. We loughed, Sang, danced. It Was so muchfunl It was exactly whot we needed to get U5 in the Christmas spirit ond moke us hoppy" Audience member e love (Ind care thot 9￿5 into producing the Yvonne Arnoud pontomimes is always evident, and iYsfantGT5tic tosee this trodition continue. With beautiful bockdrop5, colourful costumes, high stondard of performonce5 and o great deal of infertious energy, Robin Hood adds anotherfestive feother to the creative cop of the tolented teom." British Theatre Guide. I would like to thank my fellow Directors for their support and work this year on behalf the theatre and also to welcome new director, Sir Stephen Lamport GCVO DL to the board. On behalf of them all I would like to commend and thank all the staff of the theatre, led by Chief Executive Joanna Read and Finance Director Sarah Gatward, for their excellent work this year arbd their positive enthusiasm and good humour during the upheaval of the capital works. The team's warm welcome, dedication to their roles and commitment to the theatre makes the Arnaud a special and inspiring place. Stephen Bampfylde Chairman Page 6 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Report of the Olrector5 for the year ending 31 March 2025 Our Objett and Aclivltles Our Mi55ion A regional theatre wlth a national reach our mission is to produce and present vibrant, outstandingl entertaining drama for the many communities of Surrey and the South-East. With a thriving studio space and creative learning programme, we are an artistic resource and a cultural hub- a safe space for our many communitie5. We enable people of all ages across the South to participate in the thrill and delight of live theatre, benefiting their health and well-belng and realising Stronger, more meaningful, social relaiionships and building prosperous and cohesive communitie5. The Yvonne Amaud Theatre believes that art changes lives,. thatengagement in arts activlty as a participant or an audience member is central to the wellbeing of an individual, to promoting good mental health and emotional engagement and that theatre is a cohesive and socialising force for good. The Yvonr)e Arnaud Theatre enriche5 the Sives of the communities it seTves by offering and encouraging opportunities for learning, for creativity and personal and social development through its broad programme of theatre and art5 activity. Vision A community and cultural hub with theatre at its core. Based on: our Artistic Programme, Community Engagement, Creative Leamin8 Programme and Cultural leadership. Supported by: Public Engagement. Customer Experience. Fundraising. Public Benefit In shaping ourobjectives for the year and planning our activities, the directors have considered the Charity Commission's guidance on public benefit. including the guidance "public benefit.. running a charity IPB21" The theatre relies on grants and the income from fees and charges to cover its operating costs. Affordability and access to our programme is central to the theatre'5 mission and is refletted in our dwerse programme, community and creative learning offer and our pricing policy both later detailed in thi5 report. The theatre Is committed to arts participation as a tool to explore the world, raise awareness, educate, empower, and inspire real and lasting change. The theatre is a major arts and culture provider in the South-East and the only producing venue in Surrey. Our work enables people from all communities to enjoy and engage with theatre and the performing arts on many levels. Through our work, we support good mental health and well-being for Guildford residents. gniing a sense of self. place, and pride to those we engage with. Engagement in the arts is proven to have a positive impact on the mental and physical health and wellbeing of participants. The work we programme and produce is intended to appeal to a diverse and broad range of communities and to promote, by engagement with the work. an under5tantling and appreciatioll of the world and others around them. Page 7 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Report of the Directors lor the year ending 31 March 20Z5 The theatre reaches under-represented groups in the wider community by providingtargeted programmes and activities that specifically engage those people who have limited access or opportunities to engage with the arts. This includes families. children and young people who have a low household income or low socioeconomic status- young carers- care experienced children and young people and those who are not in employment, education or training INEETI; adult5 and older members of the community who may be at risk of harm or social isolation. The theatre works with schools, agencies, and community Partners acr05S the county to design and deliver tailored programmes, workshops and creative activity to meet the needs of these groups. In Guildford we have put a priority on working with clients and groups from the wards of Stoke and Westborough as these wards are identified in the IMD as being two of the most deprived wards of Surrey. As part of the theatre's commitment to access and inclusion, all creative learning and family activities are desiBned to support individuals with special educational needs or a disability, to participate in them. We ensure Deaf and disabled people are able to access and engage with our creative learning offer across all strands. Captioned and signed performances for deaf people and the Deaf and hard of hearing community as well as a relaxed performance for our annual Christmas show are part of our core offering. With a fully acce55ible and renewed building we will increase our creative learnin8 offer and ensure it is fully accessible and inclusive to all, including groups such as= People living with dementia and their carers- wheelchair users,. people who have restricted mobility- blind and partially sighted people; parents and carers of children who use buggies. The theatre is a regular meeting venue for many arts and activities groups in Guildford and Surrey. Athievements and Perforniance The Moin House Progrumme A total of 330 performances were seen by over 111,000 people in the main house during the year. Highlights of the season Included Pride ond Prejudice (Sort Of). Filumena. Murder on the Orient Express, and a themed run of George Orwell's works with Theatre Royal Bath's 1984 in October and DerbyTheatre's AnimalFt7rm in March. Schools enjoyed a wide Selection as well, with productions of Birdson9, and Druculo playing in the year in addition to the George Orwell productions. Musicals were well represented with Pride ond Prejudice (Sort Ofj and Carrie Hope Fletcherfs Love Letters, while modern comedy featured Kenny Wa￿5 tour of The Shork Is Broken, straight from the West End. Martin Shaw made a welcome return to Guildford with A Monfor All Se050ns. One audience member commented". "I was lucky enough to see both these play5 in the lost couple of weeks. I thought they were both impressive GTnd powerful theotre-difficult ond hounting themes, but well orted and an enjoyable time well spent. A lot to think about ofterwcjrds tool Thonk you. We continue to be very successful in booking larger-name comedy acts, which has boosted box office revenue while attracting a younger and wider audien￿ demographic. This season we welcomed lack Dee, Ruby Wax, Harry Hill, anil John Shuttleworth. Ruby Wax's show gave audiences "t7n (Jmozingty candid ond funny insight into the meonlng of depre5510n... thonk you.- audience member. Page 8 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Report of the Dlrectors for the year endin¥ 31 March 2025 Family work remains a key element of our programme, with visits from In The Night Garden. The Baddies, Zog and The Flying Doctor. and Stick Mon. We showcased the best of student performing artlsts with the return of The Central School of Ballet and the Guildford School of Actin& who brought their final year production of The Hunchback of Notre Dome. For the first time, we included a dementia-friendly panto performance. To support this initiative, Front of House, cafe staff, and volunteers undertook dementia awareness training during the year. We also offered captioned performances, audio described perfomlances and touch tours for a number of productions. Our national tourfor 2024 was the new political comedy Party Gomesl. starring Matthew Cottle and Debra Stephenson, alongside Krissie Bohn, Jason Callender, Natalie Dunne, and William Oxborrow. After opening in Guildford, the tour played Windsor, Cardiff, Worthing, Cambridge, Bath, and Malvern. Despite strong attendance in Guildford, the production struggled to attract a substantial audience on tour. with the announcement of the general election mid-tour impacting sales and press coverage. "beors the powerploy t7nd insider knowledge of Yes Prime Minister°_ the Times on Porty Gamesl The calendar year concluded with our productlon of Robin Hood. One review noted.. his is traditionoj pontomime with u twist. It plays with the genre without going toofar- subtle modernisotion that retoins the essence of what it 15 all about ond, most importantly, what the oudience want tosee and hear... the perfect ontidote to oll the madne55 going on in the world right now." Parikiaki Newspaper Community Engagement ondAnimation Progrom Impacted by the refurbishment, our regular groups Pop Up Play and Knit and Knatter moved to the Mill Studio during the extended Summer closure of the main house. We were pleased that a number of informal groups, such as adult learners and breastfeeding sUPPOrt, continued to meet during this period. Pop Up Play provides a free weekly drop-in session for parents and carers of pre-school-aged children. Children enjoy toys and colouring activities. which are overseen by the Creative Learning Department and volunteers. Our Easter Family Fun Day offered arts activities for families. children. and their carers promoted through The Hive. Pop Up Play. and the Heritage Open Day. Throughout the year, several talks and presentations on the work and history of the theatre were given to local groups including U3A, history societies, and Rotary clubs. These events provided valuable Opportunities to engage with new audiences, many of whom were unfamiliar with the theatre's mission and the breadth of it5 work. Volunteer5 The theatre benefits significantly from the dedication and commitment of approximately IIXI volunteer5 who provide essential support across front of house operations, facilities and estates management, creative learning initiatives, and archival seThice5. We are profoundly grateful for their invaluable contribvtions. While their participation is integral to the theatre's daily functions, volunteering also enable5 individua15 to foster social connettions and pursue personal development. Pag¢ 9 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED RegIste￿d No. 814453 Report of the Directors for the year endlng 31 March 2025 Over the course ofthe year. a range of trainin8 and professional development opportunities were provided to volunteers. These included an annual training session encompassing fire evacuation procedures, the major incident response plan, safeguarding protocols, Scanner operation, and updates on the capital Works programme. Additionally, various social events were organised to promote community engagement and morale, such as an evening of music and dance on the maln Stage accompanied by a receptlon, a Christmas quiz, and a combined Staff and Volunteer Christmas party. The Mill Studio The Mill Studio continues to be home to our programme for young people, emerging artists, and local companies. There was a slightly reduced performance programme in 2024-25 due to the studio hosting other elements of our operation. Performances included our re8ular collaboration with Short Stories Tall Tales for babes in arms and toddlers. featuring shows such as The Night Before Christma5, Town Mouse ond Country Mouse, Am¢s Rocket, and Giraffes Can't Bath. We also welcomed visits from emerging and contemporary performers including Bi Topia, Alison Spittle, and Nasty- Solo artists were represented by productions like I, Emily Dickinson and the ever-popular one-man production of A ChrAStmos Corol. The Mill also serves as a dedicated space for our Creative Learning Programme, with the studio theatre hosting workshops, creative activities, and school holiday programme5. Additionally* it provides rehearsal space for both our own productions and other local companies. During 2024-25, while refurbishment was underway, the Mill Studio also functioned as our café and welcomed many of our regular community groups when the Riverbank Café was temporarily closed due to building works. Thls summer, we were dellghted to host the Gulldford Arts exhibition once again. In January, we were proud to hève the Mill Studio officially designated as a Community Asset. This recognition highlights the important role the building plays a5 a hub for arts activities and as a valuable resource for the people of Guildford. Creotive Leorninq The Creative Learning team delivers a variety of workshops. placements, tours, talks, and art5 activities both inside and outside the theatre to schools. community groups, teachers, and the public across Surrev. We maintain regular partnerships with Kings ColleEe School in Guildford, Merstham Park and Tomiead School, Guildford College and Activate Learnin& Guildford Grove Primary, and Gosden House SEND school. Highlights from this yearfs pro8ramme include.. Discover Theatre Project - Now in ils third year. our annual funded project for Deaf and disabled young people has supported 40 children to achieve their Explore A￿5 Award. Working in partnership with Guildford Grove Lighthouse Unit and Gosden House School, the Discover Theatre project uses the theatre's artistic resources and expertise to provide practical workshops on pantomime and theatre- making for Deaf and disabled young people. Through learning about the panto genre, characters, 5105h scene5. technical theatre, devisin& and directing, each participant works towards achieving the Explore Arts Award. In 2024-25, the project was delivered to 10 children attending Guildford Grove. Page 10 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Registered No. 814453 Report of the Dlrectors for the year endtng 31 March 2025 he sessions are the highlight of the pupils. weekl They are growing in confidence, becoming more expressive,. they hove on outletfor creotivity, are developing theirl(Jnguage und vocubulary, social skills. ond turn-tuking... Icould go onl-_ Taken from mid-point evaluation, Alice South, Lighthouse Unit Team Leader "It ha5 been ufontastic opportunityforour leorners to experience on in-depth study of pontomime and tt7ke part in creotive artivities where they ore encourt7ged to use their imogin(rtion.° Catherlne Kneller, Woodpeckers Teacher, Gosden House Young Creatlves Project - Working wilh Merstham Park Secondary School. the theatre's Young Creatives project annually engages twenty-five Year 10 pupils interested in the arts. This targeted projert focuses on classes with a high proportion of Pupil Premium and SEND students. Through a series of creative workshops, particlpants develop their arts and cultural practice alongside young leadership skills. By visiting the theatre and working with our staff, they learn about progression foutes Into careers in the creative and cultural industrie5. The project is designed around the Arts Award, with all participants working towards their Bronze Award. Work Experien￿ & Careers Programme - Each year. the theatre offers opportunities for young people to tske part in backstsge workexperience. We alsodelivera week-long summerworkexperience programme for pupils from local schools. This year, we welcomed fifty Year 10 student5 from Broadwater School and Kings College to our annual free Creative Careers Morning. Additionally, we provided 5eventy-eight opportunities throughout the year for young people with aft Interest in the arts to shadow rehearsals for YAT produrtion5, tour the theatre, and meet Staff to discuss creative career pathways and training. Workshops and Workshop Bursary Programme- Engaging in arts activities is a proven way to build young people's confidence, social skills, verbal and literacy skills. foster teamwork, good citizenship, and develop empathy. The theatre delivers a variety of high-quality creative learning workshops for children aged 5-18 to participate in during school holidays. Workshops include Theatre Explorers, Stage Combat, Lighting Design, Sound Design. Drama Camp, Poetry & Performance, Musical Theatre, Puppetry, and Creative Make-up. These sessions are designed and led by artist practitioners who regularly work in the art5 industry and with young people from dNerse backgrounds. To ensure accessibility, we provide funded bursaries for children and young people who, due to financial constraints or caring responsibilities (such a5 young carers), may struggle to access arts activities during the holidays. We work closely with Surrey Young Carers and the SENC05 in local schools to identify beneficiaries eli8ible for free School meals and/or Pupil Premium, or who might benefit from these opportunities. Panto Partnership - Through c105e collaboration with The Hive community centre, Guildford Action for Families, RUSA Care Surrey Young Carers. Surrey Children's Services, and YMCA Guildford, we ensure access to our annual Christmas panto for young carers, looked-after children, young people living in supported accommodation, and families facing various challenges. The Panto Pannership project provides over 200 funded tickets annually for specific groups of younE people and their families. Opportunities extend beyand the show, including visits by cast members to The Hive, social support, and refreshments on the night of the performance, followed by tours and workshops for the YMCA. Pagell YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Report of the Dlrertors for the year ending 31 March 2025 Showgoers- New this year, the Showgoers project is designed to support ment31 health and well-being bv enabling adults118+1 living in Guildfofd, Waverley, and beyond to watch live theatre at the Yvonne Arnaud and share their experiences. We collaborate with Surrey-based charities Catalyst and Oakleaf. which support people experiencing loneliness, social isolation, and poor mental health. In partnership with their group support workers. we enable clients to attend performènces on funded tickets. Refreshments are included, and groups are assisted by members of the Creative Learning team and volunteer ushers. In addition to funded tickets. we offer eighteen Show8oers events annually for those who can afford discounted tickets. The group sits together and meets before the show and during the interval. Participants have a range of accessibility and medical needs, including anxietvp claustrophobia, obesity, poor mental health, social isolation, and loneline$5. Attendees include recipients of Universal Credit. JSA, ESA, tax credits, and some who identify a5 disabled. Stoffing, Operotions ond Estote Following the departure of the Box Office manager. a new Box Office Manager was promoted from within the team and two new staff recruited. A new Community Engagement Practitioner joined the team followin8 reconfiguration of one role to supportthe increased deliveryof the creative learning programme. Flnancial review The theatre group reported a small deficTi in the year of £26.1)0512024: surplus of £689,043). The trading subsidiaries, ￿SUItS have all been consolidated into the group results. All profits generated by trading subsidiaries are used to assist the theatre charity to meet its objectives. Our pricin9 policy Our pricing policy reflects our Strategy of enabling all within our community, whatever their means, to take part in our activities and to attend our theatre. We offer discounted rates to schools, under 25's, and low- income group5 a5 well as funded Ino costl tickets to Partners in our Creative Learning Programme and free companion tickets. Discounts are a150 available for large group bookings. Conce55ion5 are intended to ensure those from a low-income background can access the arts and to foster and encourage an appreciation of and enEagement with theatre and drama. The athiance (half pricel tickets introduced as part of our 2022-23 pricing review. ensure that those on low incomes can access the proEramme at a substantially reduced cost. Likewise, our multi buy offers support lower cost regular attendance. Investment powers fJnd policy The directors, having regard to the liquidity requirements of operating the theatre, have kept available funds in instant access deposit accounts. Although trustees seek to achieve a rate on deposit that either matches or exceeds the rate of inflation, due to wider economic circumstance5 deposit rates have been depressed and so this aim is not always achievable. Cash reserves surplus to day-to-day operating requirements are held by Yvonr)e Arnaud Theatre Management and placed on longer term deposits. The invested funds held on deposit earned a weighted average rate of interest of 4.50%12024: 5.03%1- Pag¢ 12 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Regists￿d No. 814453 Report of the Directors for the year ending 31 March 2025 Reserves policy ond going concern Reserves are needed to bridge the gap between the spending and receiving of income ond to cover unplanned emergency repairs and other expenditure. The directors consider that the ideal level of rese￿e5 would enable the theatre to cover a three-month dark period. A5 at 31 March 2025 this would be £610,0￿. At 31 March 2025, the charitable group has free reserves of £338,303. The theatre has included unrestricted and the balance from one designated reserve in this calculation as the dlrectors are able to re-de5ignate or retLbrn these funds to general reserves as required. The Theatre Management Group has the financial support of Yvonne Arna￿l Theatre Trust which has a balan￿ of £1.085,874 on a designated support fund as at 31 March 2025. Plans for future perlods Thls year marks the diamond jubilee of the Yvonne Arnaud Theatre as we celebrate 60 years of its remarkable history. To commemorate this milestone, we are planning a special celebration concert in September. We eagerly anticipate the completion of the capltal programme in July and the full occupation of the newly renovated Spa￿5. Among these improvements is the creation of the River Room- a dedicated space for workshops. as well as creative and community activities. which will enable us to expand these vital areas ofourwork. Our Creative Learning team will launch the Young Company in early summer. This initiative will offer a year-round youth theatre programme Specifically designed to support young people from socially disadvantaged communities. In July, we will present ourco-production with the Guildford Shakespeare Company-A Compony of RGscols, written by Phil Porter. Thi5 production will be performed simultaneously with The Comedy of Error5, Ill format inspired by Ayckbourn's House and Garden. The Comedy of Errors will take place on the main stage, while A Compony of Rascals will promenade through various parts of the building. including the Studio. cafe, and garden. The evening will commence on the riverbank opposite the theatre. We are bringing a group of volunteers together to catalogue and create order in our archives. Once the refurbishment is complete, we hope to have the space to display the theatre's heritage and legacv information and are in the early stages of an application to Heritage Lottery Fund to see if we Can support a heritage and history project, encouragin8 our audience and public to engage with the heritage of the theatre. The first part of this will be restoring order to the archivesl Looking ahead to December, our pantomime will be BeGUty and The Beost. Page 13 V4lONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Report of the Directors for the year ending 31 March 2025 Strurture. Governance and Management Governing document The Yvonne Arnaud Theatre Management Limited is a company limited by guarantee and a registered charity. The Memorandum and Articles of Association, dated 4th August 1964, amended str April 1965 alld 8th March 1976, govern the charitable company. The theatre opened in 1965 and lays Claim today to be one of the country'5 leading regional iheatres. Appolntment of directors The charitable companvs Article5 of Association stipulate that there should be not less than nine nor more than fifteen ordinary directors. Guildford Borough Council also has the right to nominate up to two additional directors. In accordance with article 28, one third of the ordinary directors retire from office each year. All retiring directors are eligible and offer themselves for re-election. New directors may be appointed by the existing directors, the appointment being subsequently approved by the members at the Annual Generdl Meeting. All directors of Yvonne Arnaud Theatre Management Limited must also be members of the charitable company. The liability of members is limited to £1 each. The Directors will be undertaklng a review of the articles of association in the third and fourth quarters of the year, with the intention of updating them to be fit for current and future needs. This is like￿ to address the comp051tion and numbers of the ordinary directors. Direttor indurtion und troining New direttors are recruited with the aim of ensuring that the balance of skills and experience held by board members is maintained and relevant to the objectives of the charity. New directors are invited to participate in an induction process, which includes meeting with the theatre 51aff and a one to one with the Chief Executive and Finance Director. An understanding of theatre operations 15 provided through meetings with heads of department and senior personnel. Background papers, including business plans, key reports from funding bodies. and financial infomiation are provided. Directors are also sent updates from the Charity Commission and a copy of the Good Trustee Guide. Orgonisotion The board of Yvonne Arnaud Theatre Management Limited l°ManagemenVI meets quarterly and there are sub-committees covering building projects, finance and audit, which meet more frequently. Responsibility forthe day-to-day operations 15 vested in the Director and Chief Executive who is appointed by the board of Management. To facilitate effective operations, the Director and Chief Executive has delegated authority, within terms of delegation approved by the directors, for operational matters including finance, employment and artistic performance related activity. The bars and restaurant areas within the theatre are operated through a subsldlary of Management, Yvonne Arnaud Theatre Icateringl Llmited 1"Caterin￿l. Catering is not a registered charity, but surplus funds are used to support the work of the theatre. There is one further subsidiary of Management. Yvonne Arnaud Theatre IProduction51 Limited is commissioned by Management to take resFionsibility for the pre-production, rehearsal and running of all in-house productions. Page 14 VVONNE ARNAUD THEATRE MANAGEMENT UMITED Registered No. 814453 Report of the Directors for the year endlre 31 March 2025 Fundrt7i5ing Revenue fundraising remains an essential part of the financial model. The regular%ivlng Vanbrugh scheme has seen a reduced income this year. This is partially due to the age of some of the donors, who are no longer able to attend the theatre due to age or infirmity and therefore do not wish to continue their supportof the programme. Corporate 5UPPOrters continue to grow with new corporate supporters, Harding Financial and Jones Tomlin joining the scheme. The Directors Circle. a new scheme introduced in 2023 continues to prove popular with a small group of sophisticated donors, bringing them closer to the work on our own productions, through their support. Trust and foundation support exceeded its target this year and has largely supported the creative learning and community work. We were fortunate to receive a new annual contribution from the Alchemy Trust for the next three years to support core Creative Learning costs. Other 5UPPOrt came from The Community Foundation Surrey, the Bassil Shippam Charitable Trust and the Sparks Fund (Voluntary Actlon Surrey). The Yvonne Arnaud theatre operates an internal fundraising team and does not engage commercial fundraising participants to carry out fundraisir)g activity. As part of our compliance with the General Data Protection Regulations the theatre has ￿VieWed and updated its privacy policy. The policy is available at onne-arnaud.co.uk] rivac the policy clearly states what personal data we will hold in relation to supporters and howthis information will be used. The theatre has received no complaints about its fundrèising activities either during the financial year or subsequently. This year, as part of their due diligence ar)d to provide suitable guidance to the staff team, the directors instigated an ethics committee to provide due scrutiny and review of fundraising opportunities and potential gifts. Related porties ond co-operation with other orgonlsotions None of our directors receive remuneration or other benefit from their work with the charity. Anv connection between a director or senior manager of the charity with either a production company or production company must be disclosed to the full board of directors in the same way as any other contractual relationship with a third party. Guildford Borough Council provides essential core funding in sUPPOrt of the artistic programme as an amenity for Guildford Borough residents and the public. The funding agreement was formalised in March 2022 for a three-year period. The theatre reports back against a number of agreed measures and deliveries. A summary of transactions is set out in note 18 to the financial statements. Paypolicyfor5enior5tuff The directors consider that the Board of Director5 are responsible for reviewing policy accordlng to the Memorandum and Artlcles of ￿socIation. The senior management team comprise the key management personnel of the charity, in charge of directing and controllingi running and operating the company on a day-to4ay basis. All directors give of their time freely and no director received remuneration in the year. Page15 YVONNE ARNAUD TPIEATRE MANAGEMENT LIMITED Registered No. 814453 Report of the Directors for the year endlng 31 March 2025 The pay for senior staff 15 reviewed annually. Where an increase is made. it will be no greater than the percentage increase made to the legally set national minimum wage rates. Given that financial sustainability is one of the major risks for both the charity and its subsidiaries, an increase in pay rates will not always be made. Risk monugement The major risk5 to which the charity is exposed have been identified by the directors and procedures are in place to mltigate them. A formal risk analysis review is presented annually, and the risk register is reviewed and updated as a live document with the top risks being presented at each board meeting. In critical areas, particularly those involving emergency procedures, fire and health and safety, management team5 conduct regular meetings on a more frequent basis and regular awareness training for staff working in these operational areas. Directorf responslbllltles In relatlon to the flnancial ststements The director5 are responsible for preparing a directors, annual report and financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generallv Accepted Accounting Practi¢el- Company law requires the directors to prepare financial statements for each year which give a true and fair view of the state of affairs of the charitable company and of the incomin8 resources and application of resources, including the income and expenditure, of the charitable company for that period. In preparing the financial 5tatementS, the directors are required to.. select suitable accounting policies and then apply them consistently.. observe the methods and principle5 in the Charities SORP,. make judgements and estimates that are reasonable and prudent. state whether applicable UK accounting standards 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 charity will continue in business. The d1￿CtOrS are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements wmply with the Companies Act 2006. They are a150 responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. The directors are responsible for the maintenance and integrity of the corporate and financial information included on the charitsble companvs website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions. Page 16 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Registered No. 814453 Report of the Dirertors for the year endlng 31 March 2025 Statement as to d15closure to our audltors In so far as the directors are aware at the time of approving our dirertors. annual report.. there is no relevant information, being information needed by the auditor in connection with preparing their report, of which the charitable company's auditor is unaware, and the directors, having made such enquiries of fellow directors and the charitable companws auditor that they ought to have made, have each taken all steps that they are obliged to take as a director in order to make themselves aware of any relevant audit information and to establish that the auditor is aware of that information. By order of the Board of Directors Mr Stephen B 16 July 2025 pfyld Page 17 Independent Auditorfs Report to the Direct¢Ys of Yvonne Arnaud Theatre Management Limited forihe year ended 31 March 2025 Oplnion We have audited the financial statements of Yvonne Arnaud Theatre Management Group Ithe parent company and the group) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Consolidated Cash Flow Ststement and notes to the financial statements, 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 Standafds, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Atcounting Practitel. In our opinion, the financial 5tatements'. give a true and fair view of the state of the group's and parent company's affairs as at 31 March 2025, and of the its incoming resources and application of resources for the year then ended,. have been properly prepared in accordance with United Kirkgdom Generally Accepted Accounting Practice: and have been prepared in accordance with the requirements of the Companies Act 2006. Bas15 for oplnion We conducted our audit in accordance with International Standards on Auditing IUKI IISAS IUKI) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the group and parent company in accordance with the ethical requirements that are relevant to our audit of the financial ststements in the UK, including the FRC'S Ethital Standard, and we have fijlfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Conclusions relati￿ to going concern In auditing the financial statements, we have concluded that the directors, use of the going concem basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed. we have r)ot identified any material uncertainties relatingto events orconditionsthat, individually or collectively, may cast significant doubt on the group or parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the directors with respect to goir5g concern are described in the relevant sections of this report. Other Informatlon The directors are responsible for the other infom)ation. The other information comprises the information included in the dire¢tors' report, other than the financial statements and our auditor's report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitw stated in our report, we do not express any form of assurance conclusion thereon. Page IS Independent Auditorfs Report to the Dlrertors of Yvonne Arnaud Theatre Management Umlted for the year ended 31 March 2025 In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially mi5Stated. If we identify such materlal incon51Stencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements or a material misstatement of the other infomiation. 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 nothlng to report In thls regard. Matter5 on whlch we are required to report by exception In the light of our knowledge and understanding of the group and parent company ond its environment obtained in the course of the audit, we have not identified material misstatements in the directors, Teport. We have r)othing to report in respect of the following matters in relation to which the Companies Act 2QK)6 requires us to report to you if, in our opinion= adequate accounting records have not been kept, or returns adequate for our audit have not beer¢ received from branches not visited by us- or the financial statements are not in agreement with the accounting records and returns: or certain disclosures of directors, remuneration specified by law are not made,. or we have not received all the information and explanations we require for our audit. Re5pon5ibilities of dlrectors As explained more fully in the directors, responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of flnancial statements that are free from material misstatement. whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the group and parent companvs ability to continue as a going concern, disclosing, as applicable, matter5 related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or parent company or to cease operations. or have no realistic alternative bL*t to do so. Auditorfs responsibilities for the audit of the financial ststements Our objectives are to obtain reasonable assurance about whether the flnancial statements as a whole are free from material mi55tatement, whether due to fraud or error, and to issue an auditorfs report that includes our opinion. Reasonable assurance is a high level of assurance, but Is not a guarantee that an audit conducted in accordance with ISAS IUKI will always detect a material fflisstatement when it exists. Misstatements can arise from fraud or errorand are considered material if, individually or In the aggregate, they could reasonably be expected to influence the economic decision5 of users taken on the basis of these financial statements. Irregularities, including fraud, are instances of non-compliance with laws and regulations. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below. Page 19 Independent Auditsls Report to the Dlrettors of Yvonne Arnaud Theatre Management Llmfted fortheyearended 31 March 2025 A further description of our responsibilities is available on the Financial Reporting Council's website at.. https://www.frc.org.uk/Our-Work/Audit/Audit-and-assurance/Standards-and-guidance/Standards-and- 8uidance-for-auditors/Auditors-responsibilities-for-audit/Description-of-auditors-responsibilities-ftJr- audit.aspx. This description forms part of our aL¢ditorfs report. Extent to which the audit was consldered capable of detectlng Irregularities, Including fraud The objectrves of our audit, in respect to fraud, are: to identify and assess the risks of material misstatemerbt of the financial statements due to fraud- to obtain sufficient appropriate audit evidence regarding the assessed rlsks of material misstatement due to fraud, through designin8 and implementing appropriate responses,. and to respond appropriateFy to fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both those charged with governance of the entity and its management. Our approach was as follows.. We identrfied areas of laws and regulations that could reasonably be expected to have a material effect on the financial statements from our general Commercial and sector experience, and throu8h discussion with the directors and other management las required by auditing standards), and discussed with the directors and other management the policies and procedures ￿gardIng compliance with laws and regulations,. We identified the following areas as those most likely to have such an effect.. health and safety,. General Data Protection Regulation IGDPRI: fraud- bribery and corruption and employment13w. Auditing slandards limit the required audit procedures to identify non-compliance with these laws and regulations to enquiry of the directors and other management and inspection of regulatory and legal correspondence, if any. We considered the legal and regulatory frameworks directly applicable to the financial statements reporting framework IFRS 102, Companies Act 2006 and the Charities Act 20111 and the relevant tax compliance regulations in the UK,- We considered the nature of the group and parent company's operations. the control environment and business performance,. We communicated identified laws and regulations throughout our team and ￿mained alert to any indications of non-compliance throughout the audit- We considered the procedures and controls that the group and parent company has established to address risks identified, or that otherwise prevent, deter and detect fraud; and how senior management monitors those procedure5 and controls. Based on this understanding we (lesigned our audit procedure5 to identify non-compliance with such law5 and regulations. Where the risk was considered to be hiEher, we performed audit procedures to address each identified fraud risk. These procedures included= testing manual journals,. reviewing the financial statement dixlosures and testing to supporting documentatioft,. performing analytical procedures; and enquiring of management, and were designed to provide reasonable assurdnce that the financial statements were free from fraud or error. Page 20 Independent Auditorfs Report to the Directors of Yvonne Arnaud Theatre Management Lirnited for the year ended 31 March 2025 Owing 10 the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the financial statements, even though we have properly planned and performed our audit in accordance with auditing standards. For example, the further removed non- compliance with laws and regulations lirregularitlesl is from the events and transactions reflected in the financial statements, the less likelythe inherently limited procedures required by auditing standards would identify it. The risk is also greater regarding irregularities occurring due to fraud rather than error, a5 fraud involves intentional concealment, forgery, collusion, omission or misrepresentation. We are not responsible for preventing non-compliance and cannot be experted to detect non-compliance with all laws and regulation5. Use of our report This report is made solely to the group and charitable parent company'5 members, as a body, in accordance with chapter 3 of Part 16 of the Companips Act 2006. Our audit work has been undertaken so that we might state to the group and charitable parent compan¢s members those matters we are required to slate to them in an auditorfs 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 group and charitable parent company and the group and charitable parent companls members as a body, for our audit work, for this report, or for the opinion5 we have formed. Toqrtv4) Mark Cummins FCCA Isenior Statutory Auditor) for and on behalf of TC Group Statutory Auditors Office= Sussex Page21 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Registered No. 814453 Cons01id?ted Statement of Flnancial Activltles Ilncluding the Income and expenditure account) for the Year Ended 31 March 2025 202S 2025 Note Unre5trfcted Restrfrted & Dèslgnated Funds Fund5 2025 Total Funds 2024 Total Funds Incorne and endowTnentsfrom: DDnutions andlegacies 63,7￿4 io,xo 73,903 180,479 aJt7ritobleoctiwties - Operatiun of Main House - Creative LeaTnin8 Programme 3,370,553 20,276 3,390,829 401,636 29,415 431,051 3,772,189 49,691 3.821,880 3,869,617 25,494 3,895.111 Otl)er troding uclivitjes External set building - Vanbrugh Club 5ubKriplion5 - Catering operations 30A91 50,156 S95.820 676,867 .363 536.503 59),866 54,363 536.503 590,866 In￿￿t income-bonk rnterest 29,267 29,267 2,396 T¢)tsl income 4 074 665 4 515 916 4 754￿53 E￿enditurÉ on: Ruisingfvnds -catering operations 1468,tYJ91 1468,CY391 1468,099 1468,0991 1460.8991 1460W91 O￿ntobIe uctiwtie5 - Operation of Main House -youth & Educ*ion Programme 13,591,863) 1523,7751 14,115,638) 1118,8831 33,5571 I￿2,440 13,710,746) 1557,3321 14,268,078) 14,210,8321 133,466 14,344,298> Total eMpendi¢ure 4,178 8451 1557,3321 14,736,1Tr1 4,805,197 expenditure Taxation Transfers betW￿n funds (lo4,￿0) 1116,0811 1220,2611 I￿,350 93.9)6 194,256 150,3441 93.850 645,537 Net movement in funds 13,830 22,175 26,C05 689,043 ReconclHath)n of funds: Totsl funds brouthtforward at i Aprll 2024 Total fund5 carried forward at31 Maich 2025 374.357 370,527 688.430 666,255 l.C62.787 1,036.782 373,744 1.062.787 26-28 The statement of financial attivities indudes all gains and1055es recognised in the period. l income and expenditure derive from continuing actFvitie5. The Income and Expenditure account of the parent undertakin8 Is not presented as part of thesefinancial statements. The pareni undertakin¥s total income for the peiiod was £4,850.62212024'. £4.794.7211 and its result of inccbme over expenditure for the period amounted to a deficit of £11,58112024= 5urplu5 of £692,483). Page 22 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Registered No. 814453 Balance Sheet as at 31 March 2025 Group 2025 Group 2024 Charlty 2025 Charlty 2014 Note Flxed Assets Investments Tangible fixed assets 19 20121 250.689 250,689 379,746 379,746 227,645 227,650 344.920 344,925 Current Assèts Stock Debtors Cash at bank and in hand 22 23 11.402 485.054 1,746,226 2.242.682 14,155 645.291 1,037,226 1.696.672 565,195 1.601.330 2.166.525 681.476 928.539 1,610,015 Creditors-. Amounts falling due within one year Net Current knets 25 11.456.589) 786,093 11.013.631) 683,041 11,426,265) 740,260 1975,4491 634,566 Net Assets 1,036,782 1,062,787 967,910 979,491 Funds Restrlcted Funds Building Restoration Fund Prod4Jttioft Fund Creative Learning Fund Other Restricted Funds 236.520 415.168 4,567 10,000 666,255 178,967 500.000 8.709 754 688,430 236,520 415,168 4.567 10,OOD 666,255 178.967 5(M).000 8,709 754 688.430 De51gnatèd Funds Tech Replacement & Improvement 28 172.500 172.500 172,500 172.500 172,5WJ 172,5 172.500 172,500 Unrestrlrted Funds Chzritable Funds Non-charitsble Tradin8 Funds Reserve arising on tonsolidation 27 129.155 131.1231 99.995 198.027 118,561 116,6991 99,995 201,857 129,155 118,561 129,155 118,561 1,036,782 1,062,787 967,910 979.491 The xcounts were approved by the Directors on 16 July 2025. Stephen Bampfylde (Cha Registered no. 814453 an) Pag¢ 23 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Reglstered No. 814453 ststement of Cash Flows and Consolidated Statement of Cash Flows for the Year Ended 31 March 2025 Group 2025 Group 2024 Charlty 2025 Charlty 2024 Note Cash used In operatlng artlvltles 32 709,591 507,812 657,576 512,097 Cash flows from invesiing activities Interest income Purchase of tangible fixed assets Cash lused inllprovided bv investing activities 29,267 129.8581 2,396 127.4841 29,267 114.0521 2.396 126,6251 591 125,0881 15,215 24,229 In¢reaselldecrea5el in cash and Cash equivalents in the yeai 709,000 482,724 672,791 487,868 Cash and cash equivalents at the beginnin8 of the year 1.037,226 554,502 928,539 440,671 Total cash and cash equivalents at the end of the year 1,746,226 1,037,226 1,601,330 928,539 All cash held con5iSts of cash and cash equivalents. The notes on pages 24 to 42 form part of these financial statement5. Page 24 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Notes to the Accounts for the Year Ended 31 March 2025 General Infomiation The company Is a charltable company Illmited by guarantee) both ￿gIstered with the Charity Commission and incorporated in England and Wales. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity- The address of its registered office 15 Millbrook, Guildford, Surrey GUI 3UX. Accounti Policies The principal accounting policie5 adopted• judEements and key sources of estimation uncertainty in the preparation of the flnancial statements are as follows.. lal Basis of preparation The financial statements have been prepared in accordan￿ with Accounting and Reporting by Charities- Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leffertive l January 20151- (Charlties SORP IFRS 10211, the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2￿6. Yvonne Arnaud Theatre Management Group meets the definition of a public benefit entity under FRS 102. Asset5 and liabS1itles are Initlally recognlsed at historlcal cost or transactlofj value unless otherwise stated in the relevant accounting policy notelsl. The financial statements are prepared in Pounds Sterling, which is the functlonal currenLry of the charity. Monetary amounts in these financial slalement5 are rounded to the nearest pound. Ibl Preparation of the aCC¢yJnts on a going concern ba515 The directors continue to closely monitorthe theatre's income and cost5, as well as considering other plans to increase income in future years. The directors review the artistic programme, pricing policies and discounts offered on an ongoing basis. The directors remain in regular contact with the grant making local authoritylsee note 17) to secure their ongolng flnancial support. The forecasts predltt that the charitable company will be able to contlnue as a going concern for a period of twelve months from the date on whith these accouftts are signed. Based on the forecasts, the dirertors believe that it is appropriate to prepare these accounts on a going concern basis. Icl Group financial statements The financial statements consolidate the results and net assets of the parent charity Yvonne Arnaud Theatre Managemerrt Lirnited and its wholly owned subsidiaries Yvonne Arnaud Theatre IProductior151 Limited IYATPI and Yvonne Arnaud Theatre (Cateringl Limited IYATQ. YATP is incorporated in the United Kingdom. Its principal activity is the resF)onslbility for the production, rehearsal and running of all in-house theatre productK)n5. YATC Is incorporated in the United Kingdom. Its principal activity is the operation of the catering facilities and bars within the Theatre. Idl Income Income s recognised when.. The charity ha5 entitlement to the funds. Any performance conditlons attached to the itemlsl have been met It is probable that the income wlll be received, and The amount can be measured reliably. Page 25 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Reglstered No. 814453 Notss to the Accounts foi the Year Ended 31 March 2025 ountln Policles contlnued Idl Income Icontinuedl Income from commercial trading activities is recognised as the related goods and sèNices are provided. Income is deferred when admi55ion fees or performance grants are re￿iVed in advance of the performan￿ or event to which they relate. Where a show straddles the year-end, box office revenue relatingto that show is reflected in the accounts in which the majority of performan￿5 fall. Income from 8overnment, local authority and other grants, whether -capital" grants or "revenue" grants. is recognised when the charity has entltlement to the funds, any performance conditions attached to the grants have been met, it is probable that the income wlll be receNed and the amount can be measured reliably and is not deferred. lel tksnated services and facilities Donated professional seNices and donated facilities are ￿cOgnised as income when the charity has control over the item, any conditions associated with the donated item have been met, the re￿ipt of economic benefit from the use by the charity of the item is probable and that economic benefrt can be measured reliably. On receipt, donated profe￿lOnal seryices and donated facillties are recognised on the basis of the value of the gift to the charity which is the amount the charity would have been willing to pay to obtain seNices or facilities of equivalent economic benefit on the open market,. a corresponding amount is then recognise(l in expenditure in the period of re￿ipl. (fl Interest re￿1Vable Interest on funds ￿ld on deposit 15 included when receivable and the amount can be measured reliably by the chartty,. this is normally upon notification of the interest paid or payable by the bank. Igl Fund accounting Unrestricted funds are available to spend on activities that further any of the purposes of the charity at the discretion of the trustees. Designated funds are unrestritted funds of the charity which the trustees have decided at their discretion to set aside for a specific purpose. Restricted funds are donatlons which the donor has specrfied are to be used solely for particular areas of the charity's work. {hl Allocatk>n of support costs Support costs are those functions that assist the work of the charity but do not d1￿CtlY undertake charitable activities. Support costs include back office costs, finance, per50nnel, payroll and governance costs which support the charity's artistic programmes and activities. These costs have been allocated against charitable activities in proportion to the direct costs incurred for each of the cate8ories of charitable artwities. {il Expenditure and IT￿coVerable VAT Expenditure is ￿Cognised when.. There is a legal or constructive obligation to make a payment to a third party, It 15 probable that settlement will be required, and The amount of the obligation can be meaSU￿d ￿ liablv. Page 26 IVOIINE ARNAUD THEATRE MANAGEMENT LIMITED Registered No. 814453 Notes to the Accounts for the Year Ended 31 March 20Z5 Accounti Pollcle5 (ontlnued 111 Expenditure and irrecoverable VAT Icontinuedl The direct expenses of a Show straddling the year end are reflected in the financial statements In which the majority of performances fall. Expenditure is classified under the following activity headings: Costs of raising funds comprise the cost5 of commercial trading. Expenditure on charitable activities includes expenditure associated with stage productions and educational programmes and inclutle both the dirert costs and support costs relating to these actlvitles. Irr￿0Verable VAT is charged as a cost agalnst the attivity for which the expendtture was incurred. til Redundancy costs Redundancy cost5 are recognised at the point where the charity is committed to making the payment in return for employee redundancv. Ik) Operatin8 leases Rental charges paid under operating leases are charged on a straight line basis over the term of the lease. 111 Tangible fixed assets Individual fixed assets costing £500 or more are capitalised at cost and are depreciated over their estimated useful economic lives on a straight line basis as follows.. Leasehokl theatre Improvements to leasehold premises Fixtures and fittings. including kltchen equipment Computer equipment 100 years 5 to 20 years 5 year5 5 years The gain or loss arlslng on the disposal of an asset is determined as the difference between the sale prO￿ed$ and the carrying value of the asset, and is credited or charged to proftt and loss. Im) Stock Stock 15 valued at the lower of tost and net realisable value, after making due allowance for obsolete and slow moving rf(ems. At each reporting date, an assessment is made for impairn)ent. Any excess of the carrying amount of stocks over its estimated selllng price less costs to complete and sell is reco8nised as an impairment loss in profrt or Ios5. Reversals of impairment losses are also recognised in profrt or loss. Inl Debtors Trade and other debtors are recognlsed at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. lol Cash at bank and in hand Cash at bank and in hand includL4 cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Pag¢ 27 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Notes to the Accounts for the Year Ended 31 March 2025 countln Poll¢les contlnue Ipl Pènsion costs The pension costs charged in the financial statement5 represent the amounts payable by the group during the period to defined contribution pension schemes operated by insurance companie5. Iql Creditors and provisions Creditors and provi510115 are recognised where the charity has a present obligation re5ultlng from a past event that will probably ￿SuIt in the transfer of fund5 to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provlslons are normalfy recognlse(l at their settlement amount after allowing for any trade di5COUFlts due. Irl Judgments and key sourcès of estimation uncertainty In the application of the companvs accounting policies. the directors required to make judgement5, estimates and assumptions about the carrying amount of assets and liabilities that are not re8(lil¥ apparent fmm other sources. The estimates and associated assumptions are based on historical experlence and other factor5 that are considered to be relevant. Actual results may differ from these estimate5. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recogni5ed in the period in which the estimate is revised where the revision affert5 that period, or in the period of the revlsion and future periods where the revision affects both current and future periods. Flnanaal rfonnance of the charl 2025 2024 The sumrnaryfinancial performan￿ of the charlty alone Is.. Incomè 4,850,622 4,862,203) 111,5811 4,794,721 14,747,775) 46,946 645,537 287,CQ8 979.491 Expendlture on charitable activities Net incomellexpendlturel Grantlran5fer5 from Yvonne Arnaud Theatre Trust Total funds brought forward 979.491 967,910 Reprèsented by.. Restricted income fund5 DesiEnated income funds Unrestriste(l income funds 666,255 172.51X) 129.155 967,910 688.430 172,500 118,561 979.491 Page28 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Notes to the Accounts for the Year Ended 31 March 2025 Income from donations and I acies 2Q24 (kant fr￿YATTrust t￿r￿[￿r lighting repla￿m￿nt creatffi￿ leaming 10,2CO 23,9)3 13,703 10,2LX) 23, 6,576 6,576 16,776 180,479 63,703 10,2 73.￿3 1&3,703 Income from charitsble attivlties BoXth￿ RestoratK)n I FurKlraigTESUPP Friend5 menknrship &j￿Iry i perf0m￿rte grants{￿ n(Jte 61 3,(W,957 181,522 3,262,479 210,114 210,114 3,319,325 3,319,325 195.699 195,69J 16,638 16,638 29,025 29,025 71930 71.930 236, 237,(XK) 3,673,418 196.199 3.869.617 30,1 27,533 27,533 31StB 3L9CB 2(D.C(KJ 10,CxY) 210,CMf) 3,370,553 401,636 3,711189 Cre*l¥e Wfwdnyne Wrfshop incon performa￿￿ants{See rKte 7) 20,276 20,276 29,415 49,691 lo,3￿) 10,3 29,415 29,415 ,050 44 ￿,050 20,276 25,494 3,3￿.829 43L051 3,821,8K) 3,683,862 211,249 3,895,111 Main house rants &C*5iVAted Guildford Counril C Cwnrillorcomrrnnity Fund CYFS Snwll Comrnuntty Projects Wiceship fvndir . 23&5 2rx),¢xtJ 10,(XLI 210,( 23&5C 237,IYKJ Pag¢ 29 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Registered No. 814453 Notes to the Akval￿. At31Marth 2025 198,917 36,￿)6 14,866 250,689 At 31 March 2024 331,861 36,165 IL720 379,746 21. Tan Ible fued assets-char Improvements to leasehold premlses Fixtures, fittinys & equipment Computer equipment Total At l April 2024 Additions Dispo￿lS At 31 March 2025 1,157,263 287,777 50,842 14,052 1,495,882 14,052 172,0861 1,437,848 133,150) 1,124,113 138,9361 248,841 64,894 Depreciation- At l Aprll 2024 Charge forthe year Depreciation on disposals At 31 March 2025 843,979 111,186 129,2741 925,891 267,862 5.359 138.9361 234,285 39.121 10,906 1,150,962 127,451 168,2101 1,210,203 50,027 Net book value: At 31 March 2025 198,222 14,556 14.867 227.645 At 31 March 2024 313,284 19,915 11,721 344,920 Page 37 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Notes to the Accounts for the Year Ended 31 March 2025 22. Stock Graup (tharity 2025 Charfty 2024 FLKKI and drink Dry gwdslDiswsables 9M26 1576 11,402 12.958 1,197 14,155 The amount of stock recogni5ed as an expense during the year was £142.40612024: £149,132). 23. Debtors 2025 2024 2025 2024 Trade debtors Other debtors Yvonne Arnaud Theatre Trusi Amount5 duefrom subsith3ry undertakings Prepay￿nts and accrued inccrfne 50,729 434 72,368 13,797 104,018 50.638 433 108,457 274.784 130,883 565,195 69,898 13,799 104,018 132,503 361,258 681,476 IC8,457 325,434 485,054 455,1( 645,291 24. Cash Ofthe cash balances held at 31" March, £986,07212024- £469,294) is for a(fvènce tlcket sales in relation to future shows. These èmounts are held on behalf of third parties. 25. Credltors: amounts fallin due withln one Group Gr￿P 2024 (hadty 2025 Charlty Trade Cred￿rS Afvanced bookings Am)unts dueto subsidiary undertaknng5 Other taxe5 soaal securtty Other creditors Accruals and deferred income 125,706 986,072 160,331 111484 986,072 25.681 20,947 50,437 231,644 1,426,265 143,447 469,294 25,681 22.592 48,863 265,572 975,449 42R34 51,326 250,651 1,456,589 51,215 285,951 10ts,631 Page 38 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Registered No. 814453 Notes to the Accounts for the Year Ended 31 March 2025 26. Deferred income 2024 openi￿ balan￿ at l 4)ri1 ArTh)unts deferred in year Aft￿vnt released to incoming resour aosifE balance at 31 March 475,ELKs I,¢￿2,971 1475,6c(JI I,Q)2,971 469X)79 475,E 1469,0791 475,f Deferred income includes box office Income in advan￿, and grants whlch the donor has speclfied must be used in future accounting periods. 27. Reconclllatlon f Movement In total funds- Unrestrirt funds Unrestricted Funds- Gr Non-tharftable Resetvo trading arlsin8 on funds consolldation Charltable funds Total Brought forward at l April 2024 Incoming Restturces Outgoing Resources Carried forward at 31 March 2025 118,561 3.624,809 13,614.2151 129.155 116.6991 536,503 1550,9271 131,1231 99.995 201,857 4,161,312 14,165,142) 198,027 99,995 unresIrf¢t￿ FwKls. Cha Inwme and Expendlture account Brought fotward at l April 2024 Incoming Resources Outgoing R￿0￿[CeS Carrled forward at 31 Marth 2025 118.561 4.1(YJ.640 14,099,046 129,155 Total Un￿strICted funds reflected In the consolidated accounts Include a resetve arislng on consolidation of £99,995. Page 39 YVONNE ARNAUD THEATRE MANAGEMENT UMITED Registered No. 814453 Note5 to the Accounts for the Year Ended 31 March 2025 28. Reconclliatlon of Movemert in total funds- D nated funds Desi nated Fund5- Grou and Chari Ilding Refurb TethThcal Equipment Trtal Brought fO￿ard at l April 2024 Ir￿mIng Resource5 Outgoing Resour Carriedforward at 31 March 2025 172,SOD 172,500 13,703 113,703 172,500 13.703 113,7031 172,5 Funds of £13,703 were received in the year from a designated reserve in Yvonne Arnaud Theatre Tmst iowards the depreciation on the theatre's dimmer lighting system which was replaced at a cost of £445.301 in 2018. A transfer of £172,500 was made in the year to 5th April 2022 to a deslgnate(I tethnical stagè equipment fund. This is to provide the necessary funds to replace the countenveight fiyln8 System In the main theatre audttorium. 29. Reconciliatl of Movement in total fwds- Restrlcted funds ,Cffj 17C8 27%428 29,415 11ry2QX)1 13fA),W 133,557) 415, 4.￿7 754 210,114 535,157 17541 1551,3321 r￿fc￿*dat3l￿rth 2025 236.5 The theatre starteil a building restoration fund in September 2LN)7. All proceed5 are being used directly forthe increasing level of repairs and maintenance projects required to keep the bvilding in a good state of repair. The theat￿ building is owned by the Yvonne Arnaud Theatre Trust but the Management company take responsibility for the ro￿lne repairs to the theatre building. The sum of £210,114 {2024: £195,699) has been rdlsed during the year with £152,561 12024= £153,2341 being used to cover the maintenance works undertaken during the year. Total funds of £10,200 were re￿iVed in the year from Yvonne Arnaud Theatre Trust from a restricted grant received towards the dimmer Ilghting replacement. The restricted grant is being written off to match the ten year write down of capitalised costs. Page 40 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Reglstered No. 814453 Notes to the Accounts for the Year Ended 31 March 2025 29. Reconciliatlon A designated production fund of £500k was created in the yearto 5 April 2019 to enable the newTheatre Director and Chief ExecutNe the abllity to start producing and touring the theatre's own produrtions. There is a significant demand for good quality drama on the national touring circuit and a lack of Product. Producing our own workwill enable the theatre to develop Its audience by providing high quality drama and maximise the investment in the work through tourin8 the work to other venues. A￿hough a strong production can improve financial performance, there is a greater level of risk and need for initial investment. This fund will allow production opportunlties to be explored. Thls production fund was previously held by the Yvonne Arnaud Theatre Trust but was transferred to the Management company as a restricied fund in Ihe year ended 31 March 2024. f Movement in total funds- Restricted funds contlnu A £25,000 donation was received in the year to 5 April 2019 from the Alchemy Foundation. These fund5 are to be used for workwith youngdisadvantaged people who would not otherwise be able to participate in such opportunities. The balanceof this fund was fully utilised Intheyearended 31 March 2025 covering the costs of tickets provided for young carers in the Guildford area to attend the opening night of the Christmas production of Robin Hood and to fund bursary places on holiday workshops delivered bv Creative Learning. Funds of £29,415 12024.. £15,050) were received in the year to contribute towards the costs of the Creatwe Learning progrdmme. Further detalls of the funders and actNity undertaken is provided in note 7 to the accounts. Agrant of £2.OOOwas received in theyearfrom Surrey County Council's Your Councillor Community Fund. This is to be used towards provlding two captioned performances on the main theatre stage. A further £8,000 grant has been received from Syrrey County Council's Your Fund 5urrèy small Community Projects. This is to be used to help fund the purchase of audiovisual equipment for the recent refurbished community room in the theatre. 30. Anal Is of net as ts between funds Group X125 General Designated Rèstricted funds Jnts fvrtds rot Tangiblefixed assets CurTent assets rash * bank and in hand Current liabilities 250,689 496.456 7,471 11.456,5891 198.027 250,689 496,456 1,746,226 11.456,5891 1.036,782 172.5(KJ 666,255 172.5 666.255 Page 41 YVONNE ARNAUD THEATRE MANAGEMENT LIMITED Registered No. 814453 Notes to the Accounts forthe Year Ended 31 March 2025 30. Anal is of net assets etween funds contlnued Group Z024 t)￿Sn￿ed Restricted funds fund5 funds Total 379,746 659,446 1,037,226 11.013.6311 1,062,787 Tangible flxed aksets Current wets Cash at bank and in hand Current liabilitie5 379,746 659,446 176.YJ6 1,013.6311 201,857 172.5C(I 688,430 172,50) 688,430 Charlty 2025 Gewal De51inated Re5trfcted funds funts funts Total 227.650 565,195 762,575 11,426,265) 129,155 227.650 565.195 1,601,330 11,426.26SI 967,910 Axed assets and investments Current assets Cash at bank and In hand Current lialMlitie5 172,5CK) 666,255 172.5C 666,255 Charfty 2024 furtd5 fund5 fund5 Total fiKed assets and investments Current assets Cash at bank and in hand Current liabilities 344,925 681,476 67.6C 1975,4491 118,561 344,925 681A76 928,539 1975,4491 979,491 172,5CII 688,430 172.5 688.430 Page 42 YVONNE ARNAUD THEATrE MANAGEMENT LIMITED Reglstered No. 814453 Notes to the Accounts forthe Year Ended 31 March 2025 31. Commitments und r o eratin leases At 31 March 2025. the group had commitments under non-cancellable operating le&es as set OLrt below: 2025 Operating lea5e5 which expire.. Wrthin tx)e year lamj and builditig5 s0,ocpJ 40,[￿￿7 Two tofiveyears land aNJ buildirlgs 2C(),(XX) 160.C(M) Overfive years land and buildings 708,333 186,667 The amount of non-cancellable operating lease payment5 made by the group and recognised as an expense in the year was £71.08312024: £89,905). 32. Re¢on¢lliatlon ol net movement In funds to net cash Ilow from o erall activftles GfOUP 2025 fjroup 2024 Charlty 2025 Charity 2024 Net movernent in funds Add back deprecialion Add back Ios5 on disposal of Ilxed assets Deduct intèrest income shown in investlng activitie5 Iln¢reasellOecrease in stodt IlncreasellDecrease in debtors IlncreasellDecrease in gift aid 1lncreasellDec￿3se in VAT recoverablè IlntrèasellDecrease in corporation tax Increase/lDecreasel in ueditors 126,lJ)S1 143,227 15,688 689,043 141,953 369 111,5811 127,451 3.877 692.483 126,188 129,2671 2,753 250,139 12.6231 13,127 1100,4061 442.958 709,591 12,3961 13,2161 1403,3041 11.2271 113,1271 76.360 23,357 507,812 129,2671 12,3961 118,903 12,6231 1314,5221 11,2271 450,816 657,576 11,571 512.097